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Coal continued to stir speculator excitement Tuesday, while a small biotech stock powered higher on an Asian agreement.

Stockhouse Canadian Small and Micro-cap Stock Report for Tuesday, May 13, 2008

TORONTO (SHfn) - Coal continued to stir speculator excitement Tuesday, while a small biotech stock powered higher on an Asian agreement.

West Hawk Development (TSX: V.WHD, Bullboard) shares soared 36% to 34 cents on Tuesday after the micro-cap explorer announced that it has entered into a letter of intent with privately-held FEV to acquire and develop a coal mine and coalbed methane gas operation in Oklahoma and Arkansas.

As well, shares of Bioxel Pharma (TSX: V.BIP, Bullboard) shot up 81% to 19 cents as the manufacturer of taxane active pharmaceutical ingredients (APIs) and developer of targeted oncology drugs said it has extended its marketing presence in Asia through the execution of letters of intent with two major Korean generic drug companies for docetaxel active pharmaceutical ingredients.

Pacific Ridge Exploration (TSX: V.PEX, Bullboard) shares skyrocketed 119% to 17.5 cents after the junior miner reported it has recently acquired a major phosphate exploration project in eastern central British Columbia.

Pemberton Energy (TSX: V.PBT, Bullboard), meanwhile, has estimated total probable undeveloped gross reserves in the Montney zone of the 10-15 well, using a 30% conservative rate, at 80 bbl/day. Pemberton stock popped 17% to 27.5 cents.

Shares of Bayou Bend Petroleum (TSX: V.BBP, Bullboard) powered 23% higher to 70 cents after the energy explorer announced that it has made a gas condensate discovery on its Eagle's Nest prospect in Louisiana. The Eagle's Nest prospect was drilled to a total depth of 16000' TVD and encountered 56' TVD net effective gas pay.

And, Tyhee Development (TSX: V.TDC, Bullboard) Tuesday reported preliminary results from the initial seven drill holes on its Clan Lake Property in the Northwest Territories, which included 21.5 metres grading 10.39 grams per tonne (g/t) gold. Its shares surged 6% to 41.5 cents.


Top Canadian Small/Micro-cap Advancers (as of 4 PM Eastern)
Bus Systems (TSX: V.BUS, Bullboard) + 300%
G.I.E. Environment Tech. (TSX: V.GIE, Bullboard) + 214%
Cloudbreak Resources (TSX: V.CDB, Bullboard) + 129%
Jantar Resources (TSX: V.JR, Bullboard) + 82%
Bennett Environmenta (TSX: T.BEV, Bullboard) + 60%
Top Canadian Small/Micro-cap Decliners
Golden Odyssey Mining (TSX: V.GOE, Bullboard) - 33%
WestCan Uranium (TSX: V.WCU, Bullboard) - 33%
Northstar Healthcare (TSX: T.NHC, Bullboard) - 31%
Southern Arc Minerals (TSX: V.SA, Bullboard) - 30%
Texada Software (TSX: V.TXS, Bullboard) - 27%


 

 
ABOUT THE AUTHOR
Sean Mason
Sean Mason is a Stockhouse market reporter and editor.

 
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