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Junior exploration stock soars 74% on takeover agreement

Sean Mason Sean Mason, Freelance
0 Comments| October 25, 2012


Stockhouse Canadian Small and Micro-cap Stock Report for Thursday, October 25, 2012    

TORONTO (SHfn) – Hana Mining (TSX: V.HMGStock Forum) shares powered 74% higher to 79 cents on volume of more than 9.4 million shares Thursday after the micro cap explorer said it has agreed to be acquired by Cupric Canyon Capital LP for 82 cents in cash for each common share of Hana held, or a total consideration of approximately $82 million.

As well, shares of Moneta Porcupine Mines (TSX: T.ME, Stock Forum) rose 12% to 23.5 cents as the gold project developer announced an updated National Instrument 43-101 mineral resource estimate on its 100% owned Golden Highway Project east of Timmins, Ontario, which showed an increase to 1.1 million Indicated gold ounces plus a 55% surge in the Inferred resource to 3.2 million ounces of gold.   

LOREX Technology (TSX: V.LOX, Stock Forum), meanwhile, reported that it has entered into a definitive agreement to be acquired by FLIR Systems for a price of $1.30 per share in cash. LOREX stock popped 32% to $1.27 on more than 3.5 million shares traded.

And, Peregrine Diamonds (TSX: T.PGD, Stock Forum) Thursday announced a financing with both Newstar Securities SRL, a company wholly-owned by Robert Friedland, and Ned Goodman’s Dundee Corporation for total proceeds of $10 million. Peregrine Diamonds shares jumped 19% to 44 cents.   

Top Canadian Small/Micro-cap Advancers (as of 4:00 PM Eastern)
Hana Mining Ltd. (V.HMG, Stock Forum) 73.63%
Formation Fluid Management Inc. (V.FFM, Stock Forum) 60.00%
AQM Copper Inc. (V.AQM, Stock Forum) 41.18%
Canasil Resources Inc. (V.CLZ, Stock Forum) 36.67%
Alexander Nubia International Inc. (V.AAN, Stock Forum) 36.36%
Top Canadian Small/Micro-cap Decliners (as of 4:00 PM Eastern)
Carlin Gold Corporation (V.CGD, Stock Forum) -58.06%
Bell Copper Corporation (V.BCU, Stock Forum) -50.00%
Hillcrest Resources Ltd. (V.HRH, Stock Forum) -29.41%
Cresval Capital Corp. (V.CRV, Stock Forum) -28.57%
Extenway Solutions Inc. (V.EY, Stock Forum) -27.78%


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