Stockhouse Canadian Small and Micro-cap Stock Report for Wednesday, August 31, 2011
TORONTO (SHfn) – Typhoon Exploration (TSX: V.TYP, Stock Forum) shares surged 42% to $92 on Wednesday after the micro cap miner reported a new series of drill results from the ongoing infill program on the Fayolle Project in Quebec, which included 14.9 grams per tonne (g/t) gold over 30 metres. Aurizon Mines has the option to acquire up to a 65% interest in the Fayolle Project by incurring total expenditures of $25 million and subscribing for common shares of Typhoon, for gross proceeds of $2 million.
As well, shares of Cornerstone Capital Resources (TSX: V.CGP, Stock Forum) gained 29% to 24.5 cents as the junior explorer and 50% joint venture partner Thundermin Resources (TSX: T.THR, Stock Forum) announced that they have exercised their option to acquire a 100% interest in the Little Deer Copper Deposit in Newfoundland.
Solara Exploration (TSX: V.SAA.A, Stock Forum), meanwhile, reported oil and gas revenue of $4,664,451 for the or the six-month period ended June 30, 2011, up 102% compared to $2,305,859 for the first six months of 2010. Solara stock popped 37% to 28 cents.
and, Petroamerica Oil (TSX: V.PTA, Stock Forum) Wednesday announced a light oil discovery with its Las Maracas-2 Sidetrack well on the Los Ocarros Block in Colombia. During initial testing, the well produced, under natural flow from a six-foot perforated interval in the Mirador Formation, light oil (37 degree API) at rates up to 938 barrels of oil per day with bulk sediment and water of 1.3% through a fully open choke size of two inches. Petroamerica shares jumped 10% to 16.5 cents.
| Top Canadian Small/Micro-cap Advancers (as of 4 PM Eastern) |
| Top Canadian Small/Micro-cap Decliners |
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