Stockhouse Canadian Small and Micro-cap Stock Report for Friday, April 13, 2012
TORONTO (SHfn) – PNG Gold (TSX: V.PGK, Stock Forum) shares powered 10% higher to 21.5 cents on volume of more than 2.7 million shares Friday after the micro cap explorer announced assay results from its 2011 exploration program at the Imwauna gold project in eastern Papua New Guinea, which included 112 grams per tonne (g/t) gold over 6.0 metres.
As well, shares of COM DEV International (TSX: T.CDV, Stock Forum) gained 14% to $2.32 on more than 1.7 million shares traded as the provider of space hardware and services reported first-quarter net income attributable to shareholders of $3.6 million, or five cents a share, an increase of $3.5 million compared to $77,000, or break even on a per-share basis, during the same period last year. Revenue, though, slipped 6% to $47.2 million.
Parex Resources (TSX: T.PXT, Stock Forum), meanwhile, said it is revising its 2012 guidance as a result of the reduced 2012 activity on blocks LLA-29, LLA-30 and LLA-57, due to recent civil disruptions, and lower than expected production from Sulawesi. Exit rate production on its current Colombian operations has been reduced by 3,500 bopd to approximately 13,500 bopd, net before royalty. Parex stock dropped 18% to $5.76.
And, Simba Energy (TSX: V.SMB, Stock Forum) Friday announced that it has been notified by GeoDynamics Research S.R.L. (Italy) that on site reconnaissance of its 100% interest in Block 2A - Kenya is to begin in April. The scope of this survey covers 750 square kilometers with 250 MPS (measuring points) on 2 km spacing to identify, and evaluate areas with hydrocarbon potential on Simba's Block 2A. Simba Energy shares moved 18% to 13 cents.
| Top Canadian Small/Micro-cap Advancers (as of 4 PM Eastern) |
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