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Energy services stock powers 78% higher on financial results

Sean Mason Sean Mason, Freelance
0 Comments| November 29, 2012


Stockhouse Canadian Small and Micro-cap Stock Report for Thursday, November 29, 2012   

TORONTO (SHfn) – Macro Enterprises (TSX: V.MCR, Stock Forum) shares surged 78% to $1.05 on Thursday after the provider of pipeline construction and maintenance services reported third-quarter net income of $5.8 million, or 24 cents a share, compared with $2.9 million, or 11 cents a share, during the same period last year. Operating expenses were 68.2% of revenue in the quarter compared with 83.1% in the same quarter last year. 

Encanto Potash (TSX: V.EPO, Stock Forum), meanwhile, announced the completion of an aggregate $2.5 million principal amount 5% secured convertible debenture, which can be exchanged for common shares of the company at a price of 25 cents per share until November 28, 2014. Encanto Potash stock gained 37% to 20.5 cents on volume of more than 3.5 million shares.   

And, Fire River Gold (TSX: V.FAU, Stock Forum) Thursday said total gold produced from both the Carbon in Leach and flotation circuits at its Nixon Fork project in Alaska during in the three month period between August and October 2012 was 3,048 ounces. Fire River Gold shares rose 7% to eight cents.    

Top Canadian Small/Micro-cap Advancers (as of 4:00 PM Eastern)
Macro Enterprises Inc. (V.MCR, Stock Forum) 77.97%
Greenock Resources Inc. (V.GKR, Stock Forum) 50.00%
Lipari Energy, Inc. (T.LIP, Stock Forum) 47.83%
Golden Dawn Minerals Inc. (V.GOM, Stock Forum) 42.86%
Noveko International Inc. (T.EKO, Stock Forum) 38.46%
Top Canadian Small/Micro-cap Decliners (as of 4:00 PM Eastern)
Touchdown Resources Inc. (V.TDW, Stock Forum) -50.00%
Canadian Imperial Venture Corp. (V.CQV, Stock Forum) -50.00%
Totally Hip Technologies Inc. (V.THP, Stock Forum) -37.50%
Centurion Minerals Ltd. (V.CTN, Stock Forum) -29.41%
Ross River Minerals Inc. (V.RRM, Stock Forum) -28.57%


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