While a small gold miner moved up following record production Wednesday
Stockhouse Canadian Small and Micro-cap Stock Report for Wednesday, November 14, 2012
TORONTO (SHfn) – Petroamerica Oil (TSX: V.PTA, Stock Forum) shares jumped 17% to 27 cents on volume of more than 5.4 million shares Wednesday after the oil and gas producer/explorer reported the discovery of light oil at La Casona-1 in Colombia. During an 8 hour and 30 minute flow period, the well produced under natural flow conditions light oil at an average rate of approximately 1,200 barrels of oil per day (bopd) with 4.0 MMCFD of gas and a maximum oil rate of 1,288 bopd.
As well, shares of Prophecy Coal (TSX: T.PCY, Stock Forum) rose 8% to 14 cents as the energy projects developer said it has entered into a Memorandum of Understanding with one of the world's largest power generation groups to jointly develop the company's Chandgana Power Plant project in Mongolia.
Orsu Metals (TSX: T.OSU, Stock Forum), meanwhile, announced third-quarter net income of $3.8 million, compared with a net loss of $2.7 million for the three months ended September 30, 2011. Orsu Metals stock moved up 25% to 12.5 cents.
And, Caledonia Mining (TSX: T.CAL, Stock Forum) Wednesday reported a 33% increase in third-quarter production at its Blanket Mine in Zimbabwe to a record 12,918 ounces of gold. Cash operating costs in the quarter decreased to US$508 per ounce of gold produced from US$583 in the comparable quarter. Caledonia Mining shares added as much as 10% at 11 cents.
|Top Canadian Small/Micro-cap Advancers (as of 4:00 PM Eastern)
|Kanosak Capital Venture Corporation (V.KKV, Stock Forum)
|Oil Optimization Inc. (V.OOI, Stock Forum)
|JNR Resources Inc. (V.JNN, Stock Forum)
|Bellhaven Copper & Gold Inc. (V.BHV, Stock Forum)
|Orsu Metals Corporation (T.OSU, Stock Forum)
|Top Canadian Small/Micro-cap Decliners (as of 4:00 PM Eastern)
|Transeuro Energy Corp. (V.TSU, Stock Forum)
|VoodooVox Inc. (T.VVX, Stock Forum)
|ArPetrol Ltd. (V.RPT, Stock Forum)
|Green Swan Capital Corp. (V.GSW, Stock Forum)
|Serabi Gold plc (T.SBI, Stock Forum)