Stockhouse Canadian Small and Micro-cap Stock Report for Wednesday, July 11, 2012
TORONTO (SHfn) – Cline Mining (TSX: T.CMK, Stock Forum) shares sank 43% to 34.5 cents on volume of more than 8.7 million shares Wednesday after the coal miner announced that it will be temporarily suspending production at its New Elk coal mine in Colorado to manage costs.
As well, shares of Frontier Rare Earths (TSX: T.FRO, Stock Forum) shot up 25% to 60 cents as the explorer/developer said Korea Resources Corporation has confirmed a $23.8 million investment for an initial stake in Frontier's Zandkopsdrift rare earth project in South Africa.
Eagle Hill Exploration (TSX: V.EAG, Stock Forum), meanwhile, reported additional assay results from its current drill program at the Windfall Lake Gold Deposit in Quebec, which included 41.8 meters of 4.60 grams per tonne (g/t) gold. Eagle Hill stock popped 11% to 15 cents.
And, PetroFrontier (TSX: V.PFC, Stock Forum) Wednesday said Macquarie Capital Markets Canada has terminated its agreement to raise $15 million for the company on a bought deal basis without reason. PetroFrontier added that it is weighing its legal options in response to Macquarie’s action. PetroFrontier shares fell 23% to 64 cents on more than 1.4 million shares traded.
| Top Canadian Small/Micro-cap Advancers (as of 4 PM Eastern) |
| Top Canadian Small/Micro-cap Decliners |
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