Stockhouse Canadian Small and Micro-cap Stock Report for Friday, July 8, 2011
TORONTO (SHfn) – Questerre Energy (TSX: T.QEC, Stock Forum) shares climbed 16% to $1.06 on Friday after the independent energy company focused on shale projects said it has closed on an acquisition of producing Bakken/Torquay oil assets and undeveloped land in the Antler area of Saskatchewan. The company acquired approximately 100 bbl/d of light oil production and 6,942 net acres of undeveloped land for cash consideration of $13.25 million.
As well, shares of Dios Exploration (TSX: V.DOS, Stock Forum) added as much as 22% at 33 cents as the junior explorer reported the execution of the AU33 West Gold Property (AU33) option and joint venture agreement with Osisko Mining, whereby Dios grants to Osisko the option to earn a 51% participating interest, by incurring expenditures in an amount totaling $5 million on AU33 and making cash payments to Dios in an amount totaling $700,000 during a five-year period (incl. LOI payment)
Thor Explorations (TSX: V.THX, Stock Forum), meanwhile, announced that it has entered into a definitive share purchase agreement to acquire all of the issued and outstanding shares of African Star Resources for a purchase price of approximately $2.6 million, which shall be satisfied through the issuance to the vendors of 16,745,795 common shares of Thor. African Star is a party to an option agreement pursuant to which it has the option to acquire a 70% interest in the Douta Gold Project in Senegal. Thor stock popped 16% to 22 cents.
And, Kilo Goldmines (TSX: V.KGL, Stock Forum) late Thursday reported that Klaus Eckhof will be stepping down as Chief Executive Officer and Peter Hooper will be stepping down as Executive Chairman. Kilo Goldmines shares surged 18% to 22.5 cents on Friday.
| Top Canadian Small/Micro-cap Advancers (as of 4 PM Eastern) |
| Top Canadian Small/Micro-cap Decliners |
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