Speculators reacted positively to a uranium development and exploration deal Wednesday, while the junior resource market just can't get enough coal news.
Stockhouse Canadian Small and Micro-cap Stock Report for Wednesday, May 14, 2008
TORONTO (SHfn) - Speculators reacted positively to a uranium development and exploration deal Wednesday, while the junior resource market just can't get enough coal news.
Consolidated Pacific Bay Minerals (TSX: V.CBP, Bullboard) shares soared 17% to 10.5 cents on Wednesday after the micro-cap explorer reported the signing of an agreement with Golden Eagle Minerals to negotiate rights to, and develop, known uranium resources and uranium exploration potential on several hundred thousand acres on a particular Native American Indian Reservation in the south-western United States.
As well, shares of North American Gem (TSX: V.NAG, Bullboard) shot up 26% to 27 cents as the junior miner said it has signed an agreement with Adamas Minerals for exclusive rights to coal, oil shales and/or all hydrocarbon discoveries on a land package in Saskatchewan, on which coal permit applications have been submitted.
Amarillo Gold (TSX: V.AGC, Bullboard) shares powered 57% higher to $1.57 after the junior explorer reported assay results from its Lavras do Sul project in Brazil, which included 206 metres averaging 2.16 grams per tonne (g/t) gold from 73 metres.
Golden Chalice Resources (TSX: V.GCR, Bullboard), meanwhile, announced that new modeling of the Langmuir nickel airborne VTEM survey has detected numerous large conductive bodies at depth that have geophysical signatures similar to the discovery zone. The conductive bodies occur at depths of over 300 meters beneath the discovery zone. They can be traced for over two kilometres along strike. Golden Chalice stock popped 12% to $1.32.
Shares of Intertainment Media (TSX: V.INT, Bullboard) jumped 12% to 9.5 cents after the new media firm said it will be supplying its voice powered social networking program, Itibiti, to major U.S. and Canadian Television networks to promote their online and broadcast programming.
And, Wescan Goldfields (TSX: V.WGF, Bullboard) Wednesday announced that it has applied for a package of coal dispositions covering about 240,000 hectares in the east central area of Saskatchewan. Its shares added 2% at 61 cents.
| Top Canadian Small/Micro-cap Advancers (as of 4 PM Eastern) |
| OMT Inc. (TSX: V.OMT, Bullboard) |
+ 67% |
| Sedex Mining (TSX: V.SDN, Bullboard) |
+ 54% |
| Rochester Energy (TSX: V.ROH, Bullboard) |
+ 46% |
| Northern Gold Mining (TSX: V.NGM, Bullboard) |
+ 35% |
| Oromonte Resources (TSX: V.ORR, Bullboard) |
+ 33% |
| Top Canadian Small/Micro-cap Decliners |
| Synodon (TSX: V.SYD, Bullboard) |
- 35% |
| Milagro Energy (TSX: T.MIG, Bullboard) |
- 33% |
| Forterra Environmental (TSX: V.FTE, Bullboard) |
- 33% |
| Arura Pharma (TSX: V.ARP, Bullboard) |
- 29% |
| Aura Silver Resources (TSX: V.AUU, Bullboard) |
- 26% |
