Some speculators were jolly over moly results Thursday, while a contract powered a tiny telecom stock higher.
Stockhouse Canadian Small and Micro-cap Stock Report for Thursday, November 13, 2008
TORONTO (SHfn) - Some speculators were jolly over moly results Thursday, while a contract powered a tiny telecom stock higher.
Roxmark Mines (TSX: V.RMK, Stock Forum) shares jumped 20% to six cents on Thursday after the micro cap miner reported results of surface exploration work completed on vein No. 3 at the Nortoba-Tyson molybdenum gold property approximately 200km northeast of Thunder Bay, Ontario, which included values as high as 1.68% molybdenum over 0.70 metres.
As well, shares of Loring Ward International (TSX: T.LW, Stock Forum) climbed 46% to $11.65 as the asset manager said it has entered into a new arrangement agreement with Werba Reinhard, Inc. (WRI), a company controlled by Loring Ward's largest shareholder, Eli Reinhard, under which an affiliate of WRI will acquire all of Loring Ward's outstanding shares for US$11.25 per share in cash, or approximately CDN$13.92 a share.
HSE Integrated (TSX: T.HSL, Stock Forum) shares soared 25% to 50 cents after the supplier of industrial health, safety and environmental services reported record third-quarter revenue of $28.2 million, up 19.6% from a year ago. HSE also reported a profit for the quarter of $0.4 million, or a penny a share, compared with a loss of $15.9 million, or 42 cents a share, during the same period last year.
Guardian Exploration (TSX: V.GX, Stock Forum), meanwhile, announced that it has settled $738,142.82 of trade payables through the payment of $300,000 in cash and the issuance of 276,534 common shares of the company at a deemed price of 55 cents per share. Guardian stock popped 25% to 7.5 cents.
Shares of Mitec Telecom (TSX: T.MTM, Stock Forum) powered 27% higher to seven cents after the manufacturer of mobile wireless, fixed wireless, broadcast and satellite components said it has been selected to supply products from its fixed wireless product line to one of the world's largest telecom providers. Mitec's CEO said, "This is a significant deal for Mitec because it helps reduce our reliance on any single customer or product. It also has the potential to deliver results that equal our present day wireless business, which had revenues of $15 million in 2008, over the next several years."
And, Wi-LAN (TSX: T.WIN, Stock Forum) Thursday announced that it expects to report revenues and pro forma earnings for its fiscal year 2008 ended October 31, 2008, that exceeds previous financial guidance. Its shares surged 20% to $1.44.
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