Speculators took a shine to gold assays Tuesday, while the market reacted positively to a uranium 43-101.
Stockhouse Canadian Small and Micro-cap Stock Report for Tuesday, September 30, 2008
TORONTO (SHfn) - Speculators took a shine to gold assays Tuesday, while the market reacted positively to a uranium 43-101.
Committee Bay Resources (TSX: V.CBR, Stock Forum) shares jumped as much as 30% before closing up 15% to 11.5 cents on Tuesday after the micro cap miner reported final drill results for the 2008 summer program at its Greenstone Belt Project in Nunavut, which included 23.53 grams per tonne (g/t) gold over 13.59 metres.
As well, shares of Lignol Energy (TSX: V.LEC, Stock Forum) shot up 25% to 35 cents as the lignocellulosic biorefining technology provider said it has signed a memorandum of understanding with Weyerhaeuser Company (NYSE: WY, Stock Forum) to explore the development of commercial applications of biochemical outputs from Lignol's proprietary biorefining technology.
Antrim Energy (TSX: T.AEN, Stock Forum) shares powered 23% higher to $1.20 after the oil and gas producer/explorer reported that, on September 18, the gas gathering system for its Tierra del Fuego project in Argentina went on stream, delivering gas to mainland Argentina. Antrim's working interest in the Tierra del Fuego concession is 25.78%. The system will deliver at rates rising to 12.25 million cubic feet of gas per day (mmcf/d) during the fourth quarter, and the company expects that will increase to 24.5 mmcf/d in April 2009.
UEX Corporation (TSX: T.UEX, Stock Forum), meanwhile, announced that it has received a National Instrument 43-101 compliant mineral resource estimate report for its Horseshoe Uranium Deposit in Saskatchewan. The September 2008 mineral resource estimate contains 3.578 million tonnes grading 0.237% uranium in the indicated category containing 18.693 million pounds of uranium and 0.311 million tonnes grading 0.208% uranium in the inferred category containing 1.426 million pounds of uranium at a cut-off of 0.05%. UEX stock popped 13% to $1.51.
Ringbolt Ventures (TSX: V.RBV, Stock Forum) shares soared 67% to 25 cents after the junior explorer reported that its 90% owned U.S. subsidiary has received 15 state exploration in Arizona covering 9,594 acres. It is estimated that a potash bed may lie at the top of the salt sequence, at depths of 700 to 2,000 feet, shallow enough to permit possible underground mining rather than solution mining.
And, Noveko International (TSX: T.EKO, Stock Forum) Tuesday said its Taiwan subsidiary, Purer Life Technology Co., has been awarded an initial order to supply high-performance filters, combined with Noveko's antimicrobial filtration technology, used under the cars of Taiwan High Speed Rail's high-speed trains for a one-month period. Its shares surged 12% to $2.
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