Stockhouse Canadian Small and Micro-cap Stock Report for Thursday, April 26, 2012
TORONTO (SHfn) – North Country Gold (TSX: V.NCG, Stock Forum) shares continued to move higher Friday, surging 17% to 37.5 cents on volume of more than 1.7 million shares. Its stock price rose 9% on Thursday after the micro cap explorer reported initial results from the 2012 spring drilling program at its 100% owned Three Bluffs Gold Project in Nunavut, which included 6.74 grams per tonne (g/t) gold over 17.4 metres.
As well, shares of Trelawney Mining and Exploration (TSX: V.TRR, Stock Forum) gained 41% to $3.27 on more than 54 million shares traded as the gold junior said it has entered into a definitive agreement by which IAMGOLD Corporation (TSX: T.IMG, Stock Forum) will acquire all of the issued and outstanding common shares of Trelawney. Trelawney shareholders will receive $3.30 in cash for each Trelawney share held, for a total consideration of approximately $585.3 million.
VMS Ventures (TSX: V.VMS, Stock Forum), meanwhile, announced that a statement of claim has been filed against the company in Manitoba Court by W. Bruce Dunlop Limited, the vendor of certain of the claims comprising the Reed Lake Joint Venture, pursuant to an agreement signed by both parties on December 2, 2008. The claim seeks to compel the Directors of VMS Ventures to give up VMS' 30 per cent participating, carried to production, interest and to elect to become a non-participating party to the Reed Lake Joint Venture in order to trigger certain alleged royalty entitlements, the company asserts. VMS Ventures views this claim to be completely without merit. VMS Ventures stock, however, dropped 14% to 24.5 cents.
And, NiMin Energy (TSX: T.NNN, Stock Forum) Friday reported that it and its wholly-owned subsidiary, Legacy Energy, Inc., have entered into a definitive agreement for the sale of its assets in California's San Joaquin Basin to Southern San Joaquin Production, LLC for a total cash consideration of approximately US$27 million. NiMin shares jumped 15% to 90 cents.
| Top Canadian Small/Micro-cap Advancers (as of 4:00 PM Eastern) |
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