Stockhouse Canadian Small and Micro-cap Stock Report for Thursday, May 17, 2012
TORONTO (SHfn) – Extorre Gold Mines (TSX: T.XG, Stock Forum) shares surged 16% to $2.65 on Thursday after the gold junior announced drilling results from its Cerro Moro project in Argentina, which included 5.00 metres at 54.0 grams per tonne (g/t) gold and 7,155 g/t silver.
As well, shares of Gabriel Resources (TSX: T.GBU, Stock Forum) moved up 27% to $1.72 on volume of more than 1.5 million shares as the resource company reported that a written judgment released in respect of a recent ruling of the Alba Iulia Court of Appeal has confirmed that the urbanism plans currently in place for the Rosia Montana gold and silver Project in Romania remains legal and valid and have been since its approval in 2002.
Pershimco Resources (TSX: V.PRO, Stock Forum), meanwhile, said it will postpone the planned update on the mineral resources and geophysics survey conducted on Cerro Quema gold project in Panama. Management added that it is not satisfied with some elements contained in the mineral resources evaluation and has decided to rerun 1,700 assays out of the 40,000 assays used in this resources calculation using a special protocol adapted to the hydroscopic gold nature of the deposit. Pershimco stock dropped 13% to 83 cents.
And, Horn Petroleum (TSX: V.HRN, Stock Forum) Thursday confirmed the presence of oil at its Shabeel well in the Dharoor Valley basin of Somalia's Puntland. The Shabeel well is operated by Horn Petroleum and holds a 60% working interest in the Dharoor and Nugaal permits in Somalia. Horn Petroleum shares sank 51% to 80 cents on more than 4.1 million shares traded.
| Top Canadian Small/Micro-cap Advancers (as of 4 PM Eastern) |
| Top Canadian Small/Micro-cap Decliners |
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