Stockhouse Canadian Small and Micro-cap Stock Report for Tuesday, January 31, 2012
TORONTO (SHfn) – Explor Resources (TSX: V.EXS, Stock Forum) shares jumped as much as 23% to 49 cents on volume of more than 1.9 million shares Tuesday after the micro cap explorer reported the results of nine drill holes on the Timmins Porcupine West property in northern Ontario, which included 114.8 grams per tonne (g/t) gold over 7.8 meters.
As well, shares of Jite Technologies (TSX: V.JTI, Stock Forum) moved up 90% to 57 cents as the manufacturer of electronic and electrical connection devices said McVicar Industries (TSX: V.MCV, Stock Forum) has agreed to acquire all outstanding common shares of Jite that it doesn’t already own and up to an additional 1,186,000 shares issuable upon exercise of existing options for a cash price of 60 cents per share, or a total consideration of approximately $5.4 million.
North American Nickel (TSX: V.NAN, Stock Forum), meanwhile, announced that the three-dimensional modeling of SkyTEM helicopter time domain electromagnetic (EM) data collected last fall over parts of its Maniitsoq project in southwest Greenland is complete and has identified three high priority targets for follow-up this summer. North American Nickel stock popped 25% to 20 cents.
And, Northern Shield Resources (TSX: V.NRN, Stock Forum) Tuesday said it has entered into a subscription agreement with HudBay Minerals (TSX: T.HBM, Stock Forum) pursuant to which HudBay has agreed to purchase 11,300,000 units of Northern Shield at a price of 22 cents per unit for gross proceeds of $2,486,000. Northern Shield shares powered 17% higher to 24.5 cents.
| Top Canadian Small/Micro-cap Advancers (as of 4 PM Eastern) |
| Top Canadian Small/Micro-cap Decliners |
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