Stockhouse Canadian Small and Micro-cap Stock Report for Wednesday, June 22, 2011
TORONTO (SHfn) – Goldstone Resources (TSX: T.GRC, Stock Forum) shares surged 20% to 85 cents on Wednesday after the micro cap explorer reported that Premier Gold Mines (TSX: T.PG, Stock Forum) will acquire, by way of a plan of arrangement, all of the outstanding common shares of Goldstone. Under the arrangement, each Goldstone shareholder will receive 0.16 of a Premier share plus $0.0001 in cash for each Goldstone share held.
As well, shares of Edleun Group (TSX: V.EDU, Stock Forum) gained 29% to $1.19 as the consolidator and developer of child care facilities across Canada announced that for its first quarter ended March 31, 2011, it achieved positive Funds From Operations (FFO) and Adjusted Funds From Operations (AFFO) for the first time in the company's history. Revenue rose 12% from the three months ended December 31, 2010.
Geomega Resources (TSX: V.GMA, Stock Forum) shares powered 28% higher to $3.45 after the junior miner reported the latest results from its Phase I diamond drilling program conducted on the Montviel property in Quebec, which revealed 1.41% total rare earth oxides (TREO) over the entire 544.6-metre core length.
Icron Technologies (TSX: V.IT, Stock Forum), meanwhile, said it has entered into an arrangement agreement with Pender Financial Group Corporation pursuant to which it is proposed that an affiliate of Pender, 7895461 Canada Inc., will acquire all of the issued and outstanding common shares and options of Icron for 53 cents per common share in cash, or a total consideration of approximately $11.828 million. Icron stock popped 47% to 52 cents.
And, Verde Potash (TSX: V.NPK, Stock Forum) Wednesday reported the discovery of what the company calls “a major high grade limestone unit” located approximately 100km from the Cerrado Verde Potash project in Brazil. Drilling has targeted the calcitic limestone unit and has returned an average grade of 53.0% CaO (calcium oxide) and 1.8% SiO2 (silicon dioxide) over an average thickness of 36.4 metres. The company stated that the production of ThermoPotash requires significant quantities of limestone as one of its raw materials. The limestone must have CaO content higher than 50% with associated SiO2 lower than 2%. Verde Potash shares jumped 13% to $6.17.
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