Stockhouse Canadian Small and Micro-cap Stock Report for Thursday, June 28, 2012
TORONTO (SHfn) – Mart Resources (TSX: V.MMT, Stock Forum) shares powered 28% higher to $1.34 on volume of more than 8.5 million shares Thursday after the oil and gas explorer/developer with operations in Nigeria said it will be paying its first dividend of 10 cents per common share payable on August 8, 2012, to shareholders of record at the close of business on July 23, 2012. Mart's Board of Directors has also adopted a dividend policy reflecting its intention to pay quarterly dividends of five cents per common share beginning in September 2012.
As well, shares of Woulfe Mining (TSX: V.WOF, Stock Forum) slid 31% to 17.5 cents on more than 3.1 million shares traded as the junior miner announced a further 60-day extension to complete the transaction in which IMC will purchase a 25% interest in the company's Korean subsidiary holding the Sangdong tungsten-molybdenum mine for cash consideration totaling $35 million.
MGM Energy (TSX: T.MGX, Stock Forum), meanwhile, reported that it has entered into a farmout agreement with Shell Canada Energy pursuant to which Shell has agreed to fund the drilling and completion of up to two wells in the Central Mackenzie Valley Canol shale oil play to earn an 37.5% interest in MGM Energy's Exploration Licence 466B. MGM Energy stock popped 29% to 20 cents.
And, Calibre Mining (TSX: V.CXB, Stock Forum) and B2Gold (TSX: T.BTO, Stock Forum) Thursday announced final phase I drill results at the Primavera Gold and Copper Porphyry joint venture project in Nicaragua, which included 159.53 metres of 0.46 grams per tonne (g/t) gold. Calibre shares fell 22% to 14 cents.
| Top Canadian Small/Micro-cap Advancers (as of 4 PM Eastern) |
| Top Canadian Small/Micro-cap Decliners |
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