Investors reacted positively to a uranium 43-101 Monday, while copper shipments made some shareholders happy.
Stockhouse Canadian Small and Micro-cap Stock Report for Monday, January 5, 2008
TORONTO (SHfn) - Investors reacted positively to a uranium 43-101 Monday, while copper shipments made some shareholders happy.
UEX Corporation (TSX: T.UEX, Stock Forum) shares climbed 19% to $1.08 on Monday after the miner announced that it has received a National Instrument 43-101 Mineral Resource Estimate report for the Raven Deposit and the West Bear Deposit in the eastern Athabasca Basin of northern Saskatchewan. The new Raven resource estimate contains 3.97 million tonnes grading 0.105% U(3)O(8) in the Indicated category containing 9.15 million pounds of U(3)O(8), and 0.49 million tonnes grading 0.104% U(3)O(8) in the Inferred category containing 1.13 million pounds of U(3)O(8) at a cutoff grade of 0.05% U(3)O(8).
As well, shares of Mercator Minerals (TSX: T.ML, Stock Forum) soared 55% to 85 cents as the micro cap miner said it has begun shipping copper concentrates from its newly expanded Mineral Park Mine in Arizona, less than two years from completion of its December 29, 2006, Technical Report.
AeroMechanical Services (TSX: V.AMA, Stock Forum), meanwhile, reported that it has received a five-year contract extension from a major Bombardier Q Series (Dash-8) regional operator based in the West Indies. The contract extension includes equipping an expanded fleet with AMA's Automated Flight Information Reporting System (afirs(TM)), UpTime(TM) web-based services, and on-site assistance. The five-year value of the new contract is in excess of US$2.2 million, depending upon the timing of the additional installations and the extent of on-site services required. AeroMechanical stock popped 14% to 20 cents.
Shares of Active Control Technology (TSX: V.ACT, Stock Forum) powered 15% higher to 7.5 cents after the designer of wireless network control and communication systems for buildings and extreme environments and MeshDynamics announced the sale of an ActiveMine system to a Wyoming open pit coal mine - the companies' first sale to a surface mining customer in the United States.
And, Probe Resources (TSX: V.PBR, Stock Forum) Monday said that commercial gas reserves have been discovered in the Probe operated South Timbalier 214 A-6 Sidetrack #1 well located in the U.S. Gulf of Mexico. The anticipated gross production rate from this formation is 25 - 35 MMcfd based on similar well performance in the area. Probe holds a 100% working interest and a 70% net revenue interest in the well. Its shares surged 10% to 23 cents.
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