Stockhouse Canadian Small and Micro-cap Stock Report for Tuesday, June 5, 2012
TORONTO (SHfn) – PetroMagdalena Energy (TSX: V.PMD, Stock Forum) shares jumped 26% to $1.58 on volume of more than 16 million shares Tuesday after the oil and gas producer/explorer said it has entered into a definitive agreement in which Pacific Rubiales Energy (TSX: T.PRE, Stock Forum) has offered to acquire all of the issued and outstanding common shares of PetroMagdalena for $1.60 per share in cash.
As well, shares of Fairmont Resources (TSX: V.FMR, Stock Forum) shot up 43% to 10 cents as the junior explorer reported results from its spring 2012 drill program on the Marmion South property, located east of Atikokan, Ontario, which included 2.00 grams per tonne (g/t) over 8.00 meters.
Miranda Technologies (TSX: T.MT, Stock Forum), meanwhile, announced that it has entered into an agreement in which Belden (NYSE: BDC, Stock Forum) has agreed to purchase all outstanding common shares of Miranda at a price of $17 per share in cash. Miranda Technologies stock popped 62% to $16.87 on more than 6.3 million shares traded.
And, Horn Petroleum (TSX: V.HRN, Stock Forum) Tuesday reported that drilling operations have begun on the Shabeel North well in Puntland, Somalia, the second well in the current drilling campaign. Horn Petroleum shares moved up 8% to $1.28.
| Top Canadian Small/Micro-cap Advancers (as of 4 PM Eastern) |
| Top Canadian Small/Micro-cap Decliners |
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