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Junior miner powers 36% higher on a favourable ruling

10/5/2012 5:38:25 PM | Sean Mason

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While an energy services stock popped following a hostile bid Friday

Stockhouse Canadian Small and Micro-cap Stock Report for Friday, October 5, 2012

TORONTO (SHfn) – Primero Mining (TSX: T.P, Stock Forum) shares climbed 36% to $7.20 on volume of more than 5.4 million shares as the precious metals producer announced that its Mexican subsidiary has received a positive ruling from the Mexican tax authorities.

As well, shares of Hyduke Energy Services (TSX: T.HYD, Stock Forum) shot up 36% to 76 cents after privately-held Do All Industries went hostile with its takeover bid for the integrated oilfield services company. Do All, however, slashed its offer price to 83 cents per share, or $20.1 million, from $1.37 per share, or $34 million.

Finavera Wind Energy (TSX: V.FVR, Stock Forum), meanwhile, said it has expanded its discussions with four potential bidders for the company. The company added that these discussions are at an advanced stage and initial offers are expected shortly. Finavera stock popped 21% to 35 cents.

And, Bengal Energy (TSX: T.BNG, Stock Forum) Friday reported results of an independent report, which showed a more than 600% increase in proved plus probable plus possible oil reserves at the Cruisinier project onshore Australia. Bengal Energy shares added 10% at $1.04.

Top Canadian Small/Micro-cap Advancers (as of 4:00 PM Eastern)
San Antonio Ventures Inc. (V.SAN, Stock Forum)	100.00%
Zinco Mining Corp. (V.ZIM, Stock Forum)	50.00%
Rodinia Oil Corp. (V.ROZ, Stock Forum)	42.86%
Klondike Gold Corp. (V.KG, Stock Forum)	41.67%
Mainstream Minerals Corporation (V.MJO, Stock Forum)	37.50%
Top Canadian Small/Micro-cap Decliners (as of 4:00 PM Eastern)
Mooncor Oil & Gas Corp. (V.MOO, Stock Forum)	-50.00%
Liberty Silver Corp. (T.LSL, Stock Forum)	-38.61%
Messina Minerals Inc. (V.MMI, Stock Forum)	-33.33%
Alexander Energy Ltd. (V.ALX, Stock Forum)	-31.25%
Pacific Booker Minerals Inc. (V.BKM, Stock Forum)	-25.56%

ABOUT THE AUTHOR

Sean Mason

Sean Mason is a Stockhouse market reporter and editor.

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