Stockhouse Canadian Small and Micro-cap Stock Report for Tuesday, May 29, 2012
TORONTO (SHfn) – Oromin Explorations (TSX: T.OLE, Stock Forum) shares climbed 22% to 67 cents on Tuesday after the resource junior said it has received the final approval from the Government of Sénégal for an Environmental and Social Impact Assessment for its Oromin Joint Venture Group Gold Project.
As well, shares of Ithaca Energy (TSX: T.IAE, Stock Forum) sank 35% to $1.83 on volume of more than 34.9 million shares as the oil and gas producer/explorer reported that it has ended discussions with all parties in regards to a sale of the company. Ithaca added that although it had been approached by a number companies, the offers did not reflect the true value of Ithaca particularly in light of the current global markets volatility and easing Brent crude prices.
Dynamic Fuel Systems (TSX: V.DYA, Stock Forum), meanwhile, said it has received the California Air Resources Board Executive Order D-697 signifying that its HydraGen hydrogen generating device has received an exemption in accordance with Section 27156 of the California Vehicle Code. This Order permits the advertising, sales, and installation of the HydraGen hydrogen generator. Dynamic Fuel Systems stock popped 32% to 25 cents.
And, Edgewater Exploration (TSX: V.EDW, Stock Forum) Tuesday announced a National Instrument 43-101 Inferred Resource Estimate for its Enchi Gold Project in Ghana, which shows 20.6 Mt grading 1.13 grams per tonne (g/t) gold containing 749,000 ounces of gold. Edgewater shares rose 17% to 35 cents.
| Top Canadian Small/Micro-cap Advancers (as of 4 PM Eastern) |
| Top Canadian Small/Micro-cap Decliners |
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