Stockhouse Canadian Small and Micro-cap Stock Report for Tuesday, October 25, 2011
TORONTO (SHfn) – Northern Tiger Resources (TSX: V.NTR, Stock Forum) shares jumped 17% to 24.5 cents on Tuesday after the micro cap miner reported that assays have now been received for an additional four diamond drill holes from the Main Zone at the 3Ace Property in the Yukon, which included 4.61 grams per tonne (g/t) gold over 35.0 metres.
As well, shares of TriOil Resources (TSX: V.TOL, Stock Forum) moved up 17% to $1.59 as the oil explorer/developer announced initial production results from two recently completed light oil horizontal wells in the emerging Cardium oil trends in Alberta. One well was completed with an 18 stage, water-based foam fluid system and flowed hydrocarbons over a 68 hour period at an average rate of 1,630 barrels per day of oil and 1.4 mmcf of natural gas per day, for a total of 1,870 barrels of oil equivalent per day, with a water cut of 1% and a final flowing wellhead tubing pressure of 2,000 kPa. TriOil owns a 30% working interest in this well and three potential development locations on the section.
Futuremed Healthcare Products (TSX: T.FMD, Stock Forum), meanwhile, said it has entered into a support agreement pursuant to which Cardinal Health Canada has agreed to make a cash take-over bid to acquire all of the outstanding shares of Futuremed for $8.15 per share, or a total consideration of $165 million. Futuremed stock popped 31% to $8.11.
Shares of Liberty Mines (TSX: T.LBE, Stock Forum) climbed 13% to 17 cents after the junior miner announced initial results from its Groves drill program near Gogama, Ontario, which included 11.70 meters grading 2.10% nickel, 2.03% copper, and 0.57 g/t gold.
And, Silver Sun Resource (TSX: V.SSU, Stock Forum) Tuesday reported that metallurgy test results indicate recoveries of 94.69% for gold and 87.15% for silver are attainable for material from its wholly-owned Cherry Hill Gold Mine in California. Silver Sun shares added as much as 11% at 59 cents.
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