Stockhouse Canadian Small and Micro-cap Stock Report for Friday, June 10, 2011
TORONTO (SHfn) – Silver Bear Resources (TSX: T.SBR, Stock Forum) shares climbed 13% to 81 cents on Friday after the micro cap explorer said it will complete a Preliminary Economic Assessment (PEA) at its 100% owned Mangazeisky silver project in Russia early in the third quarter of 2011, to assess the viability of advancing the project towards production based on its current scale. The company will also expand its exploration program for 2011 to include a drilling program of 15,000 metres. In addition, Silver Bearnarrowed its first-quarter net loss to $0.8 million, or two cents a share, from $1.1 million, or three cents a share, a year earlier.
As well, shares of Poynt (TSX: V.PYN, Stock Forum) rose 15% to 15 cents as the mobile local advertiser announced that it and Wi-LAN Inc. (TSX: T.WIN, Stock Forum) have entered into a partnership that will see WiLAN assist Poynt in the licensing of Poynt's portfolio of patents related to Internet advertising.
Ram Power (TSX: T.RPG, Stock Forum), meanwhile, reported that the Northern California Power Agency (NCPA) has signed an amended and restated power purchase agreement with the company's subsidiary, Western GeoPower, Inc. (WGP), for the purchase of all energy and available environmental attributes from WGP's proposed geothermal power plant at The Geysers Geothermal Field in California, extending the term of the agreement from 20 to 25 years, among other things. Ram Power stock charged as much as 14% higher, before closing up 4% to 47.5 cents.
And, Nautilus Minerals (TSX: T.NUS, Stock Forum) Friday said it has decided to withdraw its proposed capital raise as a result of weak financial market conditions. Chief Executive Steve Rogers said Nautilus had a cash balance of $139 million at March 31, and no debt. Nautilus shares added 10% at $2.47.
| Top Canadian Small/Micro-cap Advancers (as of 4 PM Eastern) |
| Top Canadian Small/Micro-cap Decliners |
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