Stockhouse Canadian Small and Micro-cap Stock Report for Tuesday, January 24, 2012
TORONTO (SHfn) – Hana Mining (TSX: V.HMG, Stock Forum) shares jumped as much as 12% to $1.55 on volume of more than 2.2 million shares Tuesday after the miner reported its most recent drilling results from the completion of 13 infill diamond drill holes in the Banana Zone at its Ghanzi sediment hosted Copper-Silver Project in Botswana, which included 7.62% copper equivalent (5.11% copper and 172.0 grams per tonne silver) over 5.3 metres.
As well, shares of Gennum Corporation (TSX: T.GND, Stock Forum) shot up 119% to $13.45 on more than 9.6 million shares traded as the supplier of analog and mixed-signal semiconductors for the optical communications and video broadcast markets said it has entered into a definitive arrangement agreement for Semtech Corporation (NASDAQ: SMTC, Stock Forum) to acquire all of the outstanding shares of Gennum for $13.55 per share in cash, or a total consideration of about $500 million.
Vendome Resources (TSX: V.VDR, Stock Forum), meanwhile, announced additional chip and channel samples from its San Javier Mine property in Mexico. Sample analyses returned values up to 15,042 grams per tonne (g/t) silver, 3.19% zinc, and 3.41% lead. Vendome stock popped 16% to 22 cents on volume of more than 1.3 million shares.
And, Eaglewood Energy (TSX: V.EWD, Stock Forum) Tuesday reported that it has executed farmout agreements with Ketu Petroleum Ltd, a wholly-owned subsidiary of Horizon Oil Ltd., and Mega Fortune International Ltd., currently a 10% equity participant in Eaglewood's PPL 259 and PRL 28. Each farmout is for 25% of Eaglewood's 90% equity interest in PPL 259 in the Western Province of Papua New Guinea. In the event of completion of both transactions, Eaglewood will continue to own a 40% equity interest in PPL 259 and retain operatorship. To earn their respective 25% interests, each of Horizon and Mega will pay to Eaglewood US$15.4 million. Eaglewood Energy shares climbed 8% to 27 cents.
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