Speculators took a shine to an increase in gold exploration expenditures Wednesday, while a mobile stock popped on a license deal.
Stockhouse Canadian Small and Micro-cap Stock Report for Wednesday, September 24, 2008
TORONTO (SHfn) - Speculators took a shine to an increase in gold exploration expenditures Wednesday, while a mobile stock popped on a license deal.
Roxmark Mines (TSX: V.RMK, Stock Forum) shares shot up 13% to nine cents on Wednesday after the micro cap explorer said joint venture partner Premier Gold Mines (TSX: T.PG, Stock Forum) has more than doubled minimum required exploration expenditures for certain gold properties held by Roxmark in the Geraldton Camp of the Beardmore-Geraldton Greenstone Belt in northwestern Ontario during the past 12 months. Under the terms of the agreement, Premier, as operator of the joint venture, can earn a 51% interest in the Geraldton Project over four-year period by incurring $7 million in expenditures.
As well, shares of Chalk Media (TSX: V.CKM, Stock Forum) soared 64% to nine cents as the provider of mobile content deployment systems reported that a Fortune 200 defense contractor has licensed 10,000 seats of its Mobile chalkboard Version 5.1 to utilize Chalk's BlackBerry Productivity Library, a series of courses designed to provide basic training to BlackBerry users.
Bioniche Life Sciences (TSX: T.BNC, Stock Forum) shares powered 20% higher to 59 cents after the biopharmaceutical firm said it has received notice from the Canadian Food Inspection Agency that the data package for its E. coli O157 cattle vaccine provides definitive evidence that the vaccine meets the efficacy and safety requirements for full licensing of the vaccine.
Microbix Biosystems (TSX: T.MBX, Stock Forum), meanwhile, announced that it has completed a $2.5 million acquisition of all Urokinase assets from ImaRx Therapeutics (NASDAQ: IMRX, Stock Forum). Urokinase is an FDA-approved drug formerly marketed by Abbott under the brand name Abbokinase. Microbix said the acquisition will be immediately accretive with generation of new revenue and free cash flow beginning in 2009. Microbix stock popped 27% to 66 cents.
Shares of Sandvine (TSX: T.SVC, Stock Forum) jumped 11% to $1.13 mid-day Wednesday after the provider of broadband network solutions for Cable, DSL, FTTx, fixed wireless and mobile operators reported three new customer wins in Latin America-all through global reseller relationships. By the end of trading Wednesday, shares of the company were up 2% to $1.04.
And, Golden Predator Mines (TSX: T.GP, Stock Forum) Wednesday said it has intersected near surface tungsten mineralization in drilling at its wholly-owned Springer tungsten project in Nevada, which included 1.00% tungsten over 3.5 metres. Its shares surged 13% to 87 cents.
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