Stockhouse Canadian Small and Micro-cap Stock Report for Monday, March 8, 2010
TORONTO (SHfn) – Dorato Resources (TSX: V.DRI, Stock Forum) shares climbed 28% to $1.19 on Monday after the micro cap miner reported that it has received final assay results from Minera Afrodita relating to drillhole TAR-012 in the Taricori Gold Zone within the Cordillera Del Condo in Peru, which included 18.0 metres grading 41.58 grams per tonne (g/t) gold and 46.9 g/t silver. Dorato has a right to acquire 100% of Minera Afrodita.
As well, shares of MTI Global (TSX: T.MTI, Stock Forum) shot up 30% to 26 cents as the developer and manufacturer of custom-engineered products using silicone and other cellular materials said it has entered into a share and note purchase agreement to sell MTI PolyFab Inc. and other aerospace-related assets to 3M Canada Company, for cash consideration of US$24 million, subject to certain pre- and post-closing adjustments.
Hard Creek Nickel (TSX: T.HNC, Stock Forum), meanwhile, announced that it has completed an updated positive Preliminary Assessment Study (PA) of its 100% owned Turnagain Nickel Project in British Columbia. On average, the project will produce 35,000 tonnes (77 million pounds) of payable nickel metal per year with a C1 cost of $3.34 per pound. The C1 operating cost is defined as the cash cost incurred at each processing stage, from mining through to recoverable nickel metal delivered to market, net of by-product credits (cobalt). Hard Creek stock popped as much as 13% to 35 cents.
Shares of Salares Lithium (TSX: V.LIT, Stock Forum) added 8% at 79 cents after the lithium explorer reported the results of the first phase of a transient electromagnetic survey (TEM) completed on the northern portion of the Salar de la Isla, which is part of its Salares 7 project in Region III, Chile. The TEM survey was carried out by Geodatos SAIC of Santiago, Chile, and was designed to define the size and extent of the brine pool within the salar. Geodatos has calculated the brine bearing horizon within the northern portion of the salar to have a volume of 2.459 billion kilolitres (kilolitres are equivalent to cubic metres). Using a resistivity cut-off of 2 ohm/metres (interpreted by Geodatos as possible brines) the calculated volume of this horizon increases to 5.393 billion kilolitres.
Revett Minerals (TSX: T.RVM, Stock Forum) shares surged 20% to 42 cents on Monday. On Friday, the company reported the fifth consecutive year of increased productivity at its 100% held Troy silver/copper mine in Montana, in which it achieved US$ 20.32/st direct operating cost compared to US$ 26.18/st in 2008, a 22% reduction. As of February 28, the mine had produced 228,829 ounces of silver and 2,027,970 pounds of copper. For more insight into the Revett story please see Thom Calandra’s article.
And, Stornoway Diamond (TSX: T.SWY, Stock Forum) and Shear Minerals (TSX: V.SRM, Stock Forum) Monday announced that processing of the minibulk sample from the Notch kimberlite at the Churchill Diamond Project in Nunavut is complete with an overall diamond recovery of 86.2 carats per hundred tonne. A total of 129 diamonds greater than 1.18 mm were recovered from 17.26 dry tonnes of Notch kimberlite. The five largest recovered stones weigh 0.92, 0.81, 0.77, 0.63, 0.63 carats. Stornoway shares jumped as much as 11% to 55 cents.
| Top Canadian Small/Micro-cap Advancers (as of 4 PM Eastern) |
| Top Canadian Small/Micro-cap Decliners |
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