Stockhouse Canadian Small and Micro-cap Stock Report for Friday, July 27, 2012
TORONTO (SHfn) – Online Energy (TSX: V.ONL, Stock Forum) shares jumped 46% to 19 cents on Friday after the oil and gas producer/explorer provided an update on the completion and testing of its Paddle River 1-5-55-7W5M Ostracod horizontal oil well in Alberta. During the final three days of the test the well flowed oil and associated solution gas at an average rate of 438 boe/d (73% oil). During the final 24 hours the well flowed at an average rate of 417 boe/d (70% oil).
As well, shares of Ivernia (TSX: T.IVW, Stock Forum) rose 47% to 14 cents on volume of more than 2.4 million shares as the international base metal mining company said it has received the approved operating conditions for its wholly-owned Magellan Mine from the Western Australian government.
CanAm Coal (TSX: V.COE, Stock Forum), meanwhile, reported that it is exercising its option to acquire an additional 30% ownership interest in Birmingham Coal & Coke. The purchase price of US$11,505,682 will be funded through a non-brokered private placement. CanAm Coal stock popped 23% to 13.5 cents.
And, East Asia Minerals (TSX: V.EAS, Stock Forum) Thursday announced the appointment of Dave Anthony as Chief Operating Officer of the company. Anthony recently worked with Barrick Gold as its Chief Operating Officer, responsible for African Barrick Gold (ABG) Mines & Capital Projects. East Asia Minerals shares surged 17% to 17 cents on more than 2.3 million shares traded Friday.
| Top Canadian Small/Micro-cap Advancers (as of 4 PM Eastern) |
| Top Canadian Small/Micro-cap Decliners |
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