Stockhouse Canadian Small and Micro-cap Stock Report for Monday, March 11, 2013 TORONTO (SHfn) – Petrodorado Energy Ltd. (TSX: V.PDQ, Stock Forum) jumped 15% to 11.5 cents Monday after the company said it intends to case and test the second exploration well, Loto-1X, in the CPO-5 Block in the Llanos Basin in Colombia. The CPO-5 Block is currently undergoing phase one of a two-phase exploration program, including a total of five committed exploration wells. “The conventional cores and logging indicate excellent quality sands in the target zones and are similar to the sands found in nearby discoveries,’’ said Petrodorado CEO Krishna Vathyam.
Canamex Resources Corp. (TSX: V.CSQ, Stock Forum) rose 5.6% to 9.5 cents. The company said it has signed a contract with AK Drilling of Butte, Montana for 22,000 feet of reverse circulation drilling at its Bruner gold project in central Nevada, about 200 kilometres southeast of Reno. Drilling on the property is expected to commence on or around March 15, 2013, and continue through June 2013. Canamex can earn a 70% interest in the Bruner project by spending $6 million before May 2017, and an additional 5% by completing a bankable feasibility study.
Cub Energy Inc. (TSX: V.KUB, Stock Forum) rallied 3% to 34 cents on news that drilling has commenced at the Olgovskoye-15 well. The Olgovskoye production license is located about 160 kilometres northeast of the City of Lugansk in northeastern Ukraine. The 0.15 well, with a planned total measured depth of 3,200 metres, will be drilled as a directional well with a K-200 drilling rig, provided by KUB-Gas LLC, a partially-owned subsidiary in which Cub has a 30% stake.
Colombia Mines Corp. (TSX: V.CMJ, Stock Forum), meanwhile, fell 7% to 41 cents after the company announced the formal registry of its previously approved consolidated concession contract for its Yarumalito project in Colombia. This action consolidates the 1,456-hectare Yarumalito property into a single concession contract with up to an 11-year exploration period and many other benefits that the company said will simplify the management of the property in future.
Rogue Iron Ore Corp. (TSX: V.RRS, Stock Forum) was off 13.3% to 6.5 cents. Rogue said its spin-out company, Rapier Gold Inc. (TSX: V.RPR, Stock Forum) has completed two private placements for a total of about $2.5 million. Proceeds will be used to pay Rio Tinto Plc. (NYSE: RIO, Stock Forum) for the acquisition of two subsidiaries, which contain the Pen North Gold Project. Pen North is situated along a gold belt that straddles the Porcupine-Destor Fault in Ontario.
| Top Canadian Small/Micro-cap Advancers (as of 4:00 PM Eastern) |
| Trident Gold Corp. (V.TTG, Stock Forum) |
900.00% |
| Canadian Silver Hunter Inc. (V.AGH, Stock Forum) |
80.00% |
| Med BioGene Inc. (V.MBI, Stock Forum) |
61.54% |
| Perlite Canada Inc. (V.PCI, Stock Forum) |
46.67% |
| El Tigre Silver Corp. (V.ELS, Stock Forum) |
34.21% |
| Top Canadian Small/Micro-cap Decliners (as of 4:00 PM Eastern) |
| Blackdog Resources Ltd. (V.DOG, Stock Forum) |
-52.38% |
| Southern Legacy Minerals Inc. (V.LCY, Stock Forum) |
-37.50% |
| High North Resources Ltd. (V.HN, Stock Forum) |
-37.50% |
| PyroGenesis Canada Inc. (V.PYR, Stock Forum) |
-36.11% |
| Zaio Corporation (V.ZAO, Stock Forum) |
-30.77% |