Stockhouse Canadian Small and Micro-cap Stock Report for Monday, August 29, 2011
TORONTO (SHfn) – Softrock Minerals (TSX: V.SFT, Stock Forum) shares climbed 100% to 10 cents on Monday after the micro cap explorer said it has received final documentation from the Alberta Government allotting the company 100% interest for two years (subject to extension with further work) in 204,634 acres of potash, lithium and other industrial and metallic minerals permits.
As well, shares of Northgate Minerals (TSX: T.NGX, Stock Forum) shot up 27% to $3.93 as the gold junior reported that it has entered into a definitive acquisition agreement to be acquired by AuRico Gold (TSX: T.AUQ, Stock Forum). Under the terms of the agreement, AuRico will acquire all of the issued and outstanding common shares of Northgate on the basis of 0.365 AuRico common shares per Northgate common share.
Vast Exploration (TSX: V.VST, Stock Forum), meanwhile, announced that it has entered into an Encumbrance for Financing Agreement with Nikoresources (Kurdistan) Ltd. (Niko) in regard to the Qara Dagh Block in Kurdistan. Under the terms of the Financing Agreement Niko will provide financing of US$9 million to be used by Vast to pay outstanding amounts to Niko under a joint operating agreement as well as to fund future expenses related to the deepening of the Qara Dagh well to 4,150 meters. Niko will, additionally, provide financing to Vast in regard to 34.78% of Vast's share of the cost of all operations going forward. Vast stock popped 30% to 13 cents.
And, Azure Dynamics (TSX: T.AZD, Stock Forum) Monday reported that its Norwegian Ford dealership, RøhneSelmer, has signed an order for an additional 100 Transit Connect Electric vans. Azure rose as much as 23% to 13.5 cents.
| Top Canadian Small/Micro-cap Advancers (as of 4 PM Eastern) |
| Top Canadian Small/Micro-cap Decliners |
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