Stockhouse Canadian Small and Micro-cap Stock Report for Monday, July 16, 2012
TORONTO (SHfn) – Reservoir Minerals (TSX: V.RMC, Stock Forum) shares climbed 75% to $1.14 on more than 1.5 million shares traded Monday after the micro cap explorer reported that diamond drilling on its Timok Project in eastern Serbia has intercepted copper and gold mineralization, including 266 metres grading an average of 1.23% copper equivalent from 598 to 864 metres. Freeport-McMoRan Exploration Corporation can earn an initial 55% interest in the Timok Project by spending US$3 million by March 2014.
As well, shares of Sennen Resources (TSX: V.SN, Stock Forum) shot up 24% to 18 cents as Liberty Silver (TSX: T.LSL, Stock Forum) announced an offer to acquire all the outstanding common shares of Sennen. Sennen shareholders are entitled to receive 0.28 of a Liberty Silver common share for each Sennen common share held, implying an offer price per Sennen common share of 20 cents.
CGX Energy (TSX: V.OYL, Stock Forum), meanwhile, said drilling operations at the Jaguar-1 well on the Georgetown PPL, Guyana have ended and the well will be plugged at a depth of 4,876 metres without reaching the primary objective in the Late Cretaceous geologic zone. The decision to stop drilling at this point was unanimously agreed by all partners based on safety criteria and was taken after reaching a point in the well where the pressure design limits for safe operations prevented further drilling to the main objective. CGX Energy stock dropped 30% to 30 cents on volume of 15.8 million shares.
And, SENSIO Technologies (TSX: V.SIO, Stock Forum) Monday reported the signing of an agreement for the integration of the SENSIO Hi-Fi 3D and SENSIO S2D Switch technologies in TCL Multimedia Technology Holding’s 3DTVs. SENSIO shares rose 16% to 37 cents.
| Top Canadian Small/Micro-cap Advancers (as of 4 PM Eastern) |
| Top Canadian Small/Micro-cap Decliners |
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