Stockhouse Canadian Small and Micro-cap Stock Report for Friday, March 9, 2012
TORONTO (SHfn) – Banks Island Gold (TSX: V.BOZ, Stock Forum) shares climbed as much as 31% to 67 cents on Friday after the micro cap explorer reported that it has received assay results for nine diamond drill holes completed at the Tel Zone in British Columbia in February 2012, which included 50.8 grams per tonne (g/t) gold and 43 g/t silver over 3.0 metres.
As well, shares of Neo Material Technologies (TSX: T.NEM, Stock Forum) soared 37% to $10.94 on volume of more than 22.6 million shares as the producer of neodymium-iron-boron magnetic powders, rare earths and zirconium based engineered materials and applications announced the signing of a definitive agreement under which Molycorp (NYSE: MCP, Stock Forum) will acquire Neo Materials for approximately $1.3 billion. Neo Materials shareholders will receive consideration equal to 11.30 per share, comprising of $8.05 per share in cash and 0.122 Molycorp shares.
Cobalt Coal (TSX: V.CCF, Stock Forum), meanwhile, said it has entered into both an option agreement and a letter of intent which together contemplate the acquisition by Cobalt of the mining rights to five separate tracts of lands in Virginia, covering a total of 4900 acres, each tract containing at least four seams of metallurgical coal. Cobalt Coal stock popped 17% to 17 cents.
And, Xinergy (TSX: T.XRG, Stock Forum) late Thursday reported fiscal 2011 coal sales revenue of $166.3 million, and adjusted EBITDA of $30.6 million, which represents increases of 53% and 13%, respectively, year over year. Xinergy shares jumped 16% to $2.50 on Friday.
| Top Canadian Small/Micro-cap Advancers (as of 4 PM Eastern) |
| Top Canadian Small/Micro-cap Decliners |
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