Stockhouse Canadian Small and Micro-cap Stock Report for Friday, July 13, 2012
TORONTO (SHfn) – La Mancha Resources (TSX: T.LMA, Stock Forum) shares powered 52% higher to $3.43 on volume of more than 7.8 million shares Friday after the gold junior announced that Egypt-based Weather Investments II S.a.r.l. has offered to purchase all outstanding common shares of La Mancha by way of a take-over bid at a price of $3.50 per share in cash.
As well, shares of WGI Heavy Minerals (TSX: T.WG, Stock Forum) gained 136% to 59 cents as the industrial abrasive minerals provider reported that Opta Minerals (TSX: T.OPM, Stock Forum) has made an offer to acquire all of the outstanding common shares of WGI for 60 cents per share in cash, or a total consideration of about $15.45 million.
Baja Mining (TSX: T.BAJ, Stock Forum), meanwhile, said its cash forecasts indicate that it will have insufficient funds to maintain current levels of effort beyond August 1, 2012. In May, Baja retained BMO Capital Markets to assist in considering financing options and possible sources of funding but the company has yet to receive any proposals as a result of this process. Baja Mining stock dropped 15% to 14 cents on more than two million shares traded.
And, Temex Resources (TSX: V.TME, Stock Forum) Friday announced that Gregory Gibson, former President and CEO of Trelawney Mining, has been appointed Chairman of its Board of Directors. Temex shares jumped 15% to 19 cents.
| Top Canadian Small/Micro-cap Advancers (as of 4 PM Eastern) |
| Top Canadian Small/Micro-cap Decliners |
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