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A small mining stock popped on Chinese zinc/silver production Thursday, while an oil and gas explorer climbed on a cash flow surge.

Stockhouse Canadian Small and Micro-cap Stock Report for Thursday, May 15, 2008

TORONTO (SHfn) - A small mining stock popped on Chinese zinc/silver production Thursday, while an oil and gas explorer climbed on a cash flow surge.

Arehada Mining (TSX: T.AHD, Bullboard) shares soared 31% to 36 cents on Thursday after the micro-cap miner announced first-quarter revenue of $5,259,000 from the mining of 101,845 tonnes of ore, compared with $4,611,000 from 105,000 tonnes during the same quarter last year. Arehada is engaged in the exploration, development, extraction and production of zinc, lead and silver in Inner Mongolia, China.

As well, shares of Adherex Technologies (TSX: T.AHX, Bullboard) climbed 20% to 32.5 cents as the biopharmaceutical firm reported results of a preclinical study of ADH-1 in combination with chemotherapy published in the May issue of Cancer Research. In the study, the researchers noted a 30-fold reduction in tumor size following treatment with ADH-1 and melphalan chemotherapy compared to the chemotherapy alone.

Shares of International Sovereign Energy (TSX: T.ISR, Bullboard) shot up 21% to $1.16 after the oil and gas explorer announced first-quarter cash flow from operations of 14 cents a share, compared with eight cents a share during the same period last year.

And, Gentry Resources (TSX: T.GNY, Bullboard) Thursday reported first-quarter gross revenue that surged 86% to $29.3 million, while average daily production for the period increased 34% to 4,854 boe/d. Its shares surged 9% to $3.77.


Top Canadian Small/Micro-cap Advancers (as of 4 PM Eastern)
World Heart (TSX: T.WHT, Bullboard) + 119%
Amadeus International (TSX: V.AII, Bullboard) + 100%
Family Memorials (TSX: V.FAM, Bullboard) + 82%
Golden Cariboo Resources (TSX: V.GCC, Bullboard) + 75%
Petrolympic (TSX: V.PCQ, Bullboard) + 71%
Top Canadian Small/Micro-cap Decliners
Texada Software (TSX: V.TXS, Bullboard) - 30%
Prosys Tech (TSX: V.POZ, Bullboard) - 29%
Sedex Mining (TSX: V.SDN, Bullboard) - 20%
Sidon International Res. (TSX: V.SD, Bullboard) - 20%
OMT Inc. (TSX: V.OMT, Bullboard) - 20%


 

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

 
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