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Gold junior jumps 53% on resource surge

Sean Mason Sean Mason, Freelance
0 Comments| December 7, 2012

Stockhouse Canadian Small and Micro-cap Stock Report for Friday, December 7, 2012  

TORONTO (SHfn) – Brazilian Gold (TSX: V.BGC, Stock Forum) shares powered 53% higher to 24.5 cents on Friday after the micro cap gold project developer reported an amended NI 43-101 mineral resource estimate for the São Jorge gold deposit in Brazil, which showed a 32% increase in its Indicated resource from 541,000 gold ounces to 715,000 ounces, as well as a 69% jump in the Inferred resource from 611,000 ounces to 1.035 million ounces using a 0.3 g/t cut-off. The Indicated gold grade has also risen from 1.18 grams per tonne (g/t) to 1.54 g/t, and the Inferred gold grade has increased to 0.68 g/t from 1.14 g/t.

As well, shares of Dejour Energy (TSX: T.DEJ, Stock Forum) added 16% at 22 cents as the independent oil and natural gas producer/explorer said it has executed a sale and farmout agreement covering its 100% owned western Piceance Basin lands to a NYSE-listed E&P with operations in the Piceance and other portions of the U.S., for an undisclosed cash consideration and a commitment to carry Dejour through the drilling and completion of three earning wells, with certain performance provisions. Dejour will retain a 20% working interest in more than 5,100 acres in this project.

Strateco Resources (TSX: T.RSC, Stock Forum), meanwhile, reported that the Indicated mineral resource at its Matoush project in Quebec has increased by 58% since the last mineral resource estimate was published in January 2012. The Indicated resource is now estimated to be 586,000 tonnes with an average grade of 0.95 % U3O8 containing 12.33 million pounds of U3O8. Strateco stock gained 14% to 20 cents.  

And, Sirona Biochem (TSX: V.SBM, Stock Forum) Friday announced that its sodium glucose transporter (SGLT) inhibitor for Type 2 diabetes reduced blood glucose more effectively than Johnson and Johnson's canagliflozin, an advanced SGLT inhibitor being considered for market approval in Europe and the U.S. Sirona Biochem shares shot up 60% to eight cents on more than 3.7 million shares traded.  

Top Canadian Small/Micro-cap Advancers (as of 4:00 PM Eastern)
Las Vegas From Entertainment In (V.LVH, Stock Forum) 66.67%
Sirona Biochem Corp. (V.SBM, Stock Forum) 60.00%
Brazilian Gold Corporation (V.BGC, Stock Forum) 53.12%
Anglo Swiss Resources Inc. (V.ASW, Stock Forum) 50.00%
AQM Copper Inc. (V.AQM, Stock Forum) 42.86%
Top Canadian Small/Micro-cap Decliners (as of 4:00 PM Eastern)
Trijet Mining Corp. (V.TJT, Stock Forum) -50.00%
MPH Ventures Corp. (V.MPS, Stock Forum) -50.00%
Alaska Hydro Corporation (V.AKH, Stock Forum) -50.00%
United Hunter Oil & Gas Corp. (V.UHO, Stock Forum) -40.00%
Fjordland Exploration Inc. (V.FEX, Stock Forum) -40.00%

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