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Junior explorer soars on copper assays

9/25/2008 5:00:10 PM | Sean Mason

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Speculators took a shine to copper results Thursday, while a gold joint venture generated some investor interest.

Stockhouse Canadian Small and Micro-cap Stock Report for Thursday, September 25, 2008

TORONTO (SHfn) - Speculators took a shine to copper results Thursday, while a gold joint venture generated some investor interest.

Richview Resources (TSX: T.RVR, Stock Forum) shares surged 23% to eight cents on Thursday after the micro cap miner reported assay results from its Thierry Mine Property near Pickle Lake, Ontario, which included 14.94 metres of 3.0% copper.

As well, shares of Nightingale Informatix (TSX: V.NGH, Stock Forum) powered 37% higher to 26 cents as the application service provider of electronic medical record software and related services said it is ranked first among the Deloitte Technology Fast 50, a ranking of the 50 fastest-growing technology companies in Canada, based on the percentage of revenue growth over five years.

EcuaGold Resources (TSX: V.EGR, Stock Forum) shares shot up 25% to five cents after the junior explorer announced that its wholly-owned Colombian subsidiary, ColombiaGold Resources S.A., has signed a letter of intent to enter into a joint venture operating agreement with the Colombian owners of the Santa Cruz and Palmichala gold concessions in Colombia.

CryoCath Technologies (TSX: T.CYT, Stock Forum), meanwhile, reported that it has entered into an agreement whereby Medtronic (NYSE: MDT, Stock Forum), through a wholly-owned subsidiary, will make a takeover bid for all of the outstanding shares of CryoCath for $8.75 a share in cash, or about $400 million. CryoCath stock popped 91% to $8.50.

Shares of Allen-Vanguard (TSX: T.VRS, Stock Forum) climbed 27% to 37.5 cents after the provider of solutions for protection and counter-measures against hazardous devices announced proposals to reduce annual operating costs by about $6.5 million through consolidation of facilities and other efficiency measures.

And, Bellhaven Copper & Gold (TSX: V.BHV, Stock Forum) Thursday said it has been granted three gold/silver metallic exploration concessions covering 6,440 hectares in Colombia. Its shares jumped 11% to 20 cents.

Top Canadian Small/Micro-cap Advancers (as of 4 PM Eastern)
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ABOUT THE AUTHOR

Sean Mason

Sean Mason is a Stockhouse market reporter and editor.

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