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Junior explorer powers higher on graphite deposit acquisition

Sean Mason Sean Mason, Freelance
0 Comments| November 22, 2012

Stockhouse Canadian Small and Micro-cap Stock Report for Thursday, November 22, 2012   

TORONTO (SHfn) – Zenyatta Ventures (TSX: V.ZEN, Stock Forum) shares surged 11% to 70 cents on Thursday after the micro cap explorer said it has now acquired 100% of the Albany graphite deposit in northern Ontario from Cliffs Natural Resources Exploration Canada. Zenyatta will issue to Cliffs a total of 1.25 million shares in the company in addition to a net smelter return royalty of 0.75% on the project, of which 0.5% can be purchased at any time for $500,000.   

As well, shares of RDM Corporation (TSX: T.RC, Stock Forum) rose 13% to $1.50 as the provider of specialized software and hardware products for electronic payment processing reported a 16% increase in fourth-quarter revenue to $5.7 million, while net income for the period was $616,000, compared with a $1.5 million loss in the fourth quarter of 2011.

Changfeng Energy (TSX: V.CFY, Stock Forum), meanwhile, announced a 34% surge in third-quarter revenue to $7.9 million, while net income for the quarter was $0.06 million, compared with a net loss of $0.3 million during the same period last year. Changfeng Energy stock gained 14% to 25 cents.  

And, Tembec (TSX: T.TMB, Stock Forum) Thursday said it has received group certification of forest management units 084-51 and 087-51, covering more than 1,375,000 hectares near Senneterre, Quebec, from the Forest Stewardship Council. Tembec shares added 14% at $2.15.   

Top Canadian Small/Micro-cap Advancers (as of 4:00 PM Eastern)
Phoenix Copper Corporation (V.PHC, Stock Forum) 55.56%
Laurentian Goldfields Ltd. (V.LGF, Stock Forum) 50.00%
Serabi Gold plc (T.SBI, Stock Forum) 42.86%
Intrinsyc Software International, Inc. (T.ICS, Stock Forum) 36.36%
Erdene Resource Development Corporation (T.ERD, Stock Forum) 33.33%
Top Canadian Small/Micro-cap Decliners (as of 4:00 PM Eastern)
Vast Exploration Inc. (V.VST, Stock Forum) -50.00%
Frontline Gold Corporation (V.FGC, Stock Forum) -50.00%
Sonomax Technologies Inc. (V.SHH, Stock Forum) -33.33%
Sagres Energy Inc. (V.SGI, Stock Forum) -33.33%
Bard Ventures Ltd. (V.CBS, Stock Forum) -33.33%

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