Stockhouse Canadian Small and Micro-cap Stock Report for Monday, March 12, 2012
TORONTO (SHfn) – Sundance Energy (TSX: V.SNY, Stock Forum) shares climbed 20% to 21 cents on Monday after the oil and gas explorer said it has finished the completions of the 6-5-18-3W2M exploratory test well on its 40,000 acre Ochapowace First Nations Lands and the 5-3-27-15W2M exploratory test well on its 58,000 acre Muskowekwan First Nations Lands in Saskatchewan. Sundance's two exploratory test wells encountered oil and gas shows in samples and core data and, when analyzed with the well log interpretations, the company has determined that the reservoirs present have enough thickness and sufficient porosity and permeability to be capable of supporting potential hydrocarbon production.
As well, shares of Caledonia Mining (TSX: T.CAL, Stock Forum) added as much as 29% at 13.5 cents on volume of more than 1.3 million shares as the micro cap miner reported the results summary of the 2011 exploration program at its Nama Copper/Cobalt Project in Zambia, in which a new mineralized copper zone has been identified with an estimated weighted average copper grade of 0.47% and estimated weighted average thickness of 41 metres.
Allon Therapeutics (TSX: T.NPC, Stock Forum), meanwhile, announced the completion of its first phase of work in a preclinical Parkinson's disease model and advancement into the second phase of work. Allon Therapeutics stock popped as much as 17% to 35 cents.
And, Invicta Energy (TSX: V.VCA, Stock Forum) Monday reported results of its independent reserve evaluation, prepared in accordance with National Instrument 51-101, evaluating the company's crude oil, natural gas liquids and natural gas reserves, which showed a 411% increase in proved reserves to 1,935 mboe. Invicta shares moved up 10% to 26.5 cents.
| Top Canadian Small/Micro-cap Advancers (as of 4 PM Eastern) |
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