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A big coal acquisition boosted a penny mining stock Friday, while an energy explorer's cash flow generated speculator interest.

Stockhouse Canadian Small and Micro-cap Stock Report for Friday, May 9, 2008

TORONTO (SHfn) - A big coal acquisition boosted a penny mining stock Friday, while an energy explorer's cash flow generated speculator interest.

Cline Mining (TSX: T.CMK, Bullboard) shares soared 107% to 91 cents on Friday after the micro-cap explorer announced that it has acquired the existing coal property surface assets, including the coal preparation plant, silos, buildings, railway right of way, surface real estate, mining equipment, conveyor systems, electrics, and coal waste dump all related to the New Elk Coal Company LLC coal properties in Colorado. The New Elk Coal Properties include New Elk's metallurgical and thermal coal resources of 315 million total tons of National Instrument 43-101 compliant in-place coal.

Upper Lake Oil and Gas (TSX: T.UP, Bullboard), meanwhile, reported financial and operating results for the first quarter of 2008, which included cash flow of $2.6 million. Upper Lake stock popped 25% to 85 cents.

Shares of Redline Communications (TSX: T.RDL, Bullboard) jumped 13% to $1.35 after the provider of WiMAX and wireless broadband solutions announced a 19% increase in first-quarter revenue to $13.8 million. Its net loss for the quarter was $4.2 million, or 20 cents a share, compared with a net loss of $2.9 million, or 27 cents a share, during the same period last year.

And, Esperanza Silver (TSX: V.EPZ, Bullboard) and Silver Standard Resources (TSX: T.SSO, Bullboard) Friday reported that the joint venture has received the necessary permits to begin surface drilling at the San Luis gold and silver project in Peru. Esperanza shares surged as much as 8% before adding a penny at $1.06.


Top Canadian Small/Micro-cap Advancers (as of 4 PM Eastern)
Universal Uranium (TSX: V.UUL, Bullboard) + 89%
Unitech Energy Resources (TSX: V.URX, Bullboard) + 86%
GEO Minerals (TSX: V.GM, Bullboard) + 74%
Milagro Energy (TSX: T.MIG, Bullboard) + 50%
Sedex Mining (TSX: V.SDN, Bullboard) + 50%
Top Canadian Small/Micro-cap Decliners
World Heart Corporation (TSX: T.WHT, Bullboard) - 73%
MedX Health (TSX: V.MDX, Bullboard) - 31%
Vigil Health Solutions (TSX: V.VGL, Bullboard) - 25%
Greentree Gas & Oil (TSX: V.GGO, Bullboard) - 24%
Nyah Resources (TSX: V.NRU, Bullboard) - 23%


 
 
 
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SOLITAIRE MINERALS CORP
Solitaire Minerals Corp. (TSX-V symbol: SLT) is a diversified junior Canadian mineral exploration company with a specific focus on mineral properties in North America. The Company has assembled a portfolio of precious and base metal exploration prospects in Ontario, Saskatchewan, Alberta, and the North West Territories. Solitaire's Ontario properties in the Red Lake/Birch-Uchi Greenstone Belt include the Baird, Heyson and Chukuni River Prospects, in which the Company has agreements to earn 100% ...