Stockhouse Canadian Small and Micro-cap Stock Report for Thursday, January 5, 2012
TORONTO (SHfn) – Brixton Metals (TSX: V.BBB, Stock Forum) shares surged 35% to 25 cents on Thursday after the micro cap explorer reported assay results from the balance of the 2011 drilling program at its Thorn gold-silver-copper project in British Columbia, which included 95.08 metres of 904 grams per tonne (g/t) silver equivalent.
As well, shares of Berkwood Resources (TSX: V.BKR, Stock Forum) shot up 25% to 12.5 cents as the junior miner announced that effective January 3, 2012, Altair Ventures Inc. and the company (formerly Consolidated Spire Ventures Ltd.) mutually agreed to terminate their two stage option agreement, signed on July 20, 2009, with respect to Berkwood's Prospect Valley gold project near Merritt, British Columbia. Berkwood will now control 100% of the property and act as the operator.
First Uranium (TSX: T.FIU, Stock Forum), meanwhile, said it has received official notification that the South African Water Tribunal has dismissed the appeal lodged by the Federation for a Sustainable Environment against Mine Waste Solutions' Water Use Licence. First Uranium believes the ruling vindicates its decision to continue operating the Mine Waste Solutions project in accordance with the terms and conditions of its valid water use licence since the purported appeal was lodged in March 2011. First Uranium stock popped 30% to 24 cents.
Shares of Cline Mining (TSX: T.CMK, Stock Forum) powered 21% higher to $2.07 after the coal junior announced that further to its news release of December 30, 2011, New Elk Coal Company, a wholly-owned subsidiary of Cline, received the last regulatory approval required for room and pillar mining in the Blue Seam on January 3, 2012. Accordingly, all approvals are now in place for mining in both seams in accordance with the mining plan at the New Elk Coal Mine in Colorado.
And, Sonoro Energy (TSX: V.SNV, Stock Forum) Thursday reported that it, through its wholly-owned subsidiary Sonoro Energy Iraq B.V., has entered into a Farmout Agreement with Geopetrol International Holding Inc. and its subsidiary, Geopetrol Iraq Corp. for the assignment by Sonoro to Geopetrol of a 30% participating interest in the Asphalt License Agreement in the Salah ad Din Province of Iraq. Geopetrol will pay Sonoro an initial cash payment of US$3 million as partial reimbursement of past costs and fund the first US$9 million of the costs to be incurred by Sonoro and Geopetrol in respect of the License. Sonoro will retain a 40% participating interest in the License and operatorship. Sonoro Energy shares rose 11% to 10 cents.
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