Stockhouse Canadian Small and Micro-cap Stock Report for Thursday, October 6, 2011
TORONTO (SHfn) – Hyperion Exploration (TSX: V.HYX , Stock Forum) shares powered 29% higher to 71 cents on Thursday after the oil and gas producer/explorer reported initial production results from its operated 2011 Cardium light oil drilling program in Alberta. Initial results have exceeded the company's original estimates for wells completed and on production. At Garrington two gross (2 net) wells are now on production and at Buck Lake one gross (0.6 net) well is currently being tested. The first well, 9-27, achieved a production rate of 744 boe/d (89% liquids) over the first 14 days of production.
As well, shares of Kiska Metals (TSX: V.KSK, Stock Forum) moved up 14% to 45 cents as the junior explorer announced further drill holes from Island Mountain at the Whistler Project in Alaska, which included an average of 1.28 grams per tonne (g/t) gold-equivalent over 161 metres.
BRS Resources (TSX: V.BRS, Stock Forum), meanwhile, said it has jointly acquired an additional 20% interest in AleAnna Resources LLC, an independent oil & gas exploration company operating exclusively in Italy. BRS Resources stock popped 57% to 23.5 cents.
Shares of Talon Metals (TSX: T.TLO, Stock Forum) jumped 30% to 50 cents after the micro cap miner announced results from the sampling of three trenches at its 100% owned Inajá South Iron Project in Brazil, which included 81.5 metres at an average of 40.3% iron.
And, Inter-Citic Minerals (TSX: T.ICI, Stock Forum) Thursday reported that it has rejected an unsolicited preliminary proposal from a large Chinese mining company to acquire all of the outstanding shares of Inter-Citic. The proposal, from a company that to the best of Inter-Citic's knowledge is neither an insider nor shareholder of the company, included an indicative price of between $1.20 and $1.70 per share for Inter-Citic. Inter-Citic shares surged 26% to $1.07.
| Top Canadian Small/Micro-cap Advancers (as of 4:00 PM Eastern) |
| Top Canadian Small/Micro-cap Decliners |
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