Stockhouse Canadian Small and Micro-cap Stock Report for Tuesday, December 20, 2011
TORONTO (SHfn) – San Gold (TSX: T.SGR, Stock Forum) shares jumped 41% to $1.94 on Tuesday after the gold junior reported results of drilling conducted since January in the 007 Zone of its Rice Lake Mining Complex in Manitoba, which included 23.2 grams per tonne (g/t) gold over 11.5 metres.
As well, shares of Lakeside Steel (TSX: V.LS, Stock Forum) shot up 279% to 26.5 cents as the company said it has executed a non-binding letter of intent with a strategic purchaser regarding an offer to acquire all of the company's common shares at 40 cents per share in cash.
China Gold International Resources (TSX: T.CGG, Stock Forum) shares surged 17% to $2.41 after the miner provided an update on its exploration progress for 2011 at its CSH gold mine in Inner Mongolia, China. Highlights of the 2011 drill program from the recently received assay results include intercepts of 340.36 meters (true width 248.09 meters) grading 0.78 g/t gold.
Continental Gold (TSX: T.CNL, Stock Forum), meanwhile, announced results for 20 diamond drill holes and 272 metres of underground channel sampling from its ongoing program at its Buritica Project in Antioquia, Colombia, which included three metres of 162.7 g/t gold and 41 g/t silver. Continental Gold stock popped 12% to $7.71.
And, Portal Resources (TSX: V.PDO, Stock Forum) Tuesday reported that the terms of the company's proposed acquisition of oil and gas production assets in Saskatchewan have been amended, in that the purchase price will now be $8.3 million (previously $9.1 million), and the seller will be issued $300,000 of common shares of the company at 11 cents per share as a portion of the purchase price. Portal shares rose 25% to 10 cents.
| Top Canadian Small/Micro-cap Advancers (as of 4:00 PM Eastern) |
| Top Canadian Small/Micro-cap Decliners |
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