Stockhouse Canadian Small and Micro-cap Stock Report for Monday, November 14, 2011
TORONTO (SHfn) – Temex Resources (TSX: V.TME, Stock Forum) shares climbed 13% to 26.5 cents on Monday after the micro cap miner reported that near surface exploration drilling on the Upper Hallnor Mine area of the Whitney Property near Timmins, Ontario, intersected 2.22 grams per tonne (g/t) gold over 35.70 metres.
As well, shares of Emerge Oil & Gas (TSX: T.EME, Stock Forum) shot up 20% to $1.19 as the oil and gas producer/explorer said it has entered into an arrangement agreement providing for Twin Butte Energy (TSX: T.TBE, Stock Forum) to acquire of all of the outstanding common shares of Emerge on the basis of 0.585 of a common share of Twin Butte for each outstanding Emerge share. The deemed purchase price is approximately $170 million in value, comprised of the issuance of approximately 54 million Twin Butte Shares (at a deemed price of $1.97 per Twin Butte Share) and the assumption of approximately $63 million in net debt estimated at closing.
GLG Life Tech (TSX: T.GLG, Stock Forum), meanwhile, announced third-quarter revenue of $1.7 million, a decrease of 92% compared to $20.9 million in revenue for the same period last year. The company has also decided to temporarily discontinue providing formal financial guidance on revenues, EBITDA and capital expenditures. GLG Life Tech stock dropped 11% to $2.
And, Fission Energy (TSX: V.FIS, Stock Forum) and its limited partner, the Korea Waterbury Uranium Limited Partnership, Monday reported that a $7.3 million winter exploration program, including 25,000 metre of drilling with three drills, at its flagship 40,256 ha Waterbury Lake uranium project, located in the eastern part of the Athabasca Basin, will begin in early January 2012. Fission Energy shares rose as much as 13% to 93 cents.
| Top Canadian Small/Micro-cap Advancers (as of 4 PM Eastern) |
| Top Canadian Small/Micro-cap Decliners |
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