Stockhouse Canadian Small and Micro-cap Stock Report for Monday, January 30, 2012
TORONTO (SHfn) – Matamec Explorations (TSX: V.MAT, Stock Forum) shares climbed as much as 15% to 47.5 cents on volume of more than 2.7 million shares Monday after the micro cap miner reported results of the Preliminary Economic Assessment (PEA) study at its Kipawa HREE (Heavy Rare Earth Elements) Project in Quebec, which included a $606 million before-tax value (NPV 8%) and a 36.9% before-tax Internal Rate of Return. The study also forecasts average annual production of 5,072 tonnes of mixed TREO (Total Rare Earth Oxide) concentrate.
As well, shares of RuggedCom (TSX: T.RCM, Stock Forum) shot up 25% to $32.85 on more than 6.2 million shares traded as the provider of rugged communications networking solutions designed for harsh environments announced that it has entered into an agreement pursuant to which Siemens Canada Limited has agreed to make an offer to purchase all outstanding common shares of RuggedCom by way of take-over bid at a price of $33.00 per share in cash, or a total consideration of approximately $440 million.
MENA Hydrocarbons (TSX: V.MNH, Stock Forum), meanwhile, said it has signed a contract with Petroservices Drilling Overseas (PSDO) of Egypt for the rental of their 750 HP rig Shams 1 in order to begin operations on its Lagia oil field development in Egypt. MENA Hydrocarbons stock popped 61% to 18.5 cents on volume of more than 3.3 million shares.
And, ProSep Inc. (TSX: T.PRP, Stock Forum) Monday reported it was awarded a contract valued at approximately $13 million for the design and supply of a seawater treatment and water injection system for installation on a floating production system that will operate in a deepwater Gulf of Mexico field. ProSep shares rose 10% to 11 cents.
| Top Canadian Small/Micro-cap Advancers (as of 4 PM Eastern) |
| Top Canadian Small/Micro-cap Decliners |
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