Junior miner surges on pending gold production

Stockhouse Canadian Small and Micro-cap Stock Report for Monday, September 29, 2008

TORONTO (SHfn) - A report's impact was good news for some junior gold shareholders Monday, while a once popular diamond play's days are likely numbered.

Emgold Mining (TSX: V.EMR, Stock Forum) shares shot up 14% to eight cents on Monday after the micro cap miner said the City of Grass Valley, California, is nearing completion of the Draft Environmental Impact Report for the Idaho-Maryland Gold Mine Project, which should provide the basis on which Emgold can advance the project toward production.

As well, share of DHX Media (TSX: T.DHX, Stock Forum) climbed 29% to $1.10 cents as the international producer and distributor of children's entertainment content reported that it has entered into an agreement to combine its business operations with those of Entertainment One Limited in a deal valued at about $68 million, or $1.59 a DHX share. DHX Media also reported 2008 revenue that soared 102% to $52.5 million.

Tahera Diamond (TSX: T.TAH, Stock Forum), meanwhile, announced that, as a result of the court-approved marketing process undertaken in the company's ongoing proceedings under the Companies' Creditors Arrangement Act, a Plan Sponsorship Agreement has been signed with 0835732 BC Ltd., a privately-held company owned by a group of Vancouver based resource explorationists and developers. The cash consideration being paid by the Plan Sponsor under the Agreement is insufficient to pay all of the claims of creditors of the Company in full. It is currently contemplated that if the restructuring plan is ultimately approved and implemented, the existing shares of the company will be cancelled or acquired by the Plan Sponsor which will ultimately acquire the company. No value will remain available to shareholders as a result of this transaction. Tahera stock plunged 57% to 1.5 cents.

And, Patrician Diamonds (TSX: V.PXC, Stock Forum) Monday reported that John McNeice has resigned as CFO of the company to pursue other full-time activities. Its shares popped 25% to 2.5 cents.