Stockhouse Canadian Small and Micro-cap Stock Report for Tuesday, January 17, 2012
TORONTO (SHfn) – Kivalliq Energy (TSX: V.KIV, Stock Forum) shares jumped 21% to 52 cents on volume of more than 2.1 million shares Tuesday after the micro cap miner reported a 92% increase in the NI 43-101 compliant Inferred Mineral Resource estimate for the Lac Cinquante uranium deposit in Nunavut, which now totals 27.13 million lbs U3O8 (15.2 lbs U3O8/tonne) at a 0.2% U3O8 cut-off grade.
As well, shares of Pelangio Exploration (TSX: V.PX, Stock Forum) moved up 13% to 43 cents on more than 1.4 million shares traded as the junior explorer announced results from seven additional diamond drill holes totaling 1,574 metres on the Manfo Property in Ghana, which included 9.05 grams per tonne (g/t) gold over seven metres.
CriticalControl Solutions (TSX: T.CCZ, Stock Forum), meanwhile, said its subsidiary, CriticalControl Energy Services Inc., has acquired the operating assets of DGL Software Services Ltd. and Gas & Oil Accounting (1988) Ltd., which provide land, production accounting and financial accounting software and outsourced business processing to over 100 producers in Western Canada. For the 12 months ended October 31, 2011, the DGL Assets generated revenue of $1.3 million and are expected to generate earnings before interest, tax, depreciation and amortization of $300,000 for CriticalControl on an annualized pro-forma basis. The purchase price for the assets was $1 million, with $600,000 paid in cash on closing and the remainder to be paid over a 24-month period post closing. CriticalControlstock popped as much as 22% to 36.5 cents.
Shares of Starcore International Mines (TSX: T.SAM, Stock Forum) surged 21% to 25.5 cents after the gold and silver miner announced first-quarter revenue of $20.4 million, in addition to record earnings for the period of $3.2 million, or two cents per diluted share, which included a net $3.1 million realized and unrealized loss on forward sales contracts.
And, Geologix Explorations (TSX: T.GIX, Stock Forum) Tuesday reported results of the remaining South Zone drill assays from the recently completed resource expansion and infill drilling program at its 100% owned Tepal property in Mexico, which included 1.45 g/t gold and 0.44% copper over 104.8 metres. Geologix shares climbed as much as 30% to 28 cents.
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