Stockhouse Canadian Small and Micro-cap Stock Report for Friday, October 28, 2011
TORONTO (SHfn) – Continental Gold (TSX: T.CNL, Stock Forum) shares climbed 10% to $7.95 on Friday after the gold junior late Thursday announced that it has achieved 97.04% gold and 95.65% silver recoveries from metallurgical test work for the Buritica Project in Colombia.
As well, shares of Andean American Gold (TSX: V.AAG, Stock Forum) sank 10% to $7.95 cents as the copper/gold junior said it may need considerably more capital than previously planned to put its Invicta mine in Peru into production and, as a result, has delayed completing a feasibility study on the project. The company also said it is considering options including joint venture partners, the sale of some of its properties, as well as the possibility of buying new projects.
Mountain Lake Resources (TSX: V.MOA, Stock Forum), meanwhile, reported the latest drill results from the Valentine Lake Gold Property in Newfoundland, which included 5.99 grams per tonne (g/t) gold over 10.8 meters. Mountain Lake stock popped 14% to 66 cents.
And, WesternZagros Resources (TSX: V.WZR, Stock Forum) Thursday announced that it has received payment for its first sale of crude oil to the domestic market in the Kurdistan Region of Iraq. The company also said it has signed an initial sales contract for delivery of approximately 33,500 barrels of oil priced in the range of US$50 to US$60 per barrel. WesternZagros shares added 10% at 75 cents on Friday.
| Top Canadian Small/Micro-cap Advancers (as of 4:00 PM Eastern) |
| Top Canadian Small/Micro-cap Decliners |
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