Stockhouse Canadian Small and Micro-cap Stock Report for Thursday, February 9, 2012
TORONTO (SHfn) – Lake Shore Gold (TSX: T.LSG, Stock Forum) shares powered 12% higher to $1.55 on volume of more than 11.1 million shares Thursday after the gold miner reported that it has entered into an agreement with Franco-Nevada (TSX: T.FNV, Stock Forum) through which Franco-Nevada will pay to Lake Shore US$35 million for a 2.25% net smelter return royalty on the sale of minerals from its Timmins West Complex. In addition, Franco-Nevada will pay $15 million to acquire 10,050,591 common shares of the company on a private placement basis, with the purchase price per share of $1.49.
As well, shares of MedX Health (TSX: V.MDX, Stock Forum) skyrocketed 467% to 25.5 cents on more than 12.8 million shares traded as the provider of low level laser light therapy and light imaging systems announced that its MoleMate has received approval from Health Canada, and is immediately available and in stock for all Canadian physicians. The company claims that MoleMate is a pain-free, non-invasive imaging system to see approximately 2 mm below the surface of suspicious moles, and provide additional information and images related to every mole and all types of melanomas and non-melanomas.
Perpetual Energy (TSX: T.PMT, Stock Forum), meanwhile, said it added 48.1 Bcfe of proved and probable reserves in 2011, excluding production and net dispositions. The company also calculated its reserve-based net asset value at year-end 2011 at $3.15 per share discounted at eight percent. Perpetual Energy stock popped 21% to 87 cents.
And, Petromanas Energy (TSX: V.PMI, Stock Forum) Thursday reported that it has entered into a definitive farm out agreement with a wholly-owned subsidiary of Royal Dutch Shell plc, whereby Shell will farm into Petromanas’ rights on onshore exploration Blocks 2-3, comprising approximately 852,000 acres onshore Albania. Under the terms of the agreement, Shell will acquire a 50% participating interest in the Blocks in exchange for payments and carried costs up to US$50.3 million. Petromanas will continue to act as operator of the Blocks. Petromanas shares added 9% at 32 cents on volume of more than 11.5 million shares.
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