Stockhouse Canadian Small and Micro-cap Stock Report for Wednesday, May 16, 2012
TORONTO (SHfn) – Metanor Resources (TSX: V.MTO, Stock Forum) shares climbed 8% to 21.5 cents on Wednesday as the micro cap miner provided an update of its exploration work at the Bachelor project in Quebec. Recent drill results included 26.36 grams per tonne (g/t) gold over 4.08 metres.
As well, shares of TomaGold (TSX: V.LOT, Stock Forum) fell 4% to 23 cents as the junior explorer announced the acquisition of a direct property interest of 100% of the 20 mining claims covering an area of 1,070 hectares located in the district of Chibougamau, south of the Monster Lake property in Quebec, for the purchase price of $32,000 by the issuance of 106,666 Class "A" shares of the corporation at a price of 30 cents per common share.
ZENN Motor Company (TSX: V.ZNN, Stock Forum), meanwhile, said it has entered into a new technology agreement with EEStor Inc., which ZENN believes will increase and improve its exclusive rights to purchase electrical energy storage units under development by EEStor. ZENN Motor stock dropped 27% to $1.25.
And, Ram Power (TSX: T.RPG, Stock Forum) late Tuesday reported first-quarter revenue of $6.3 million and a net loss of $2.4 million, or a penny a share, compared with revenue of $1 million and a net loss of $5.8 million, or four cents a share, during the same period last year. Ram Power shares added 10% at 28 cents on Wednesday.
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