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Oil and gas junior up on warrants news

Elizabeth Walters Elizabeth Walters, Stockhouse
0 Comments| May 10, 2013


Stockhouse Canadian Small and Micro-cap Stock Report for Friday, May 10, 2013 VANCOUVER (SHfn) –  

Africa Hydrocarbons Inc. (TSX: V.NFK, Stock Forum) climbed 4% to 13 cents after the international oil and gas company announced that it has extended the expiry date of an aggregate of 27.7 million common share purchase warrants originally issued on June 15, 2012. The expiry date of the warrants has been extended from June 15, 2013 to Dec. 15, 2013. The amendments to the warrants are subject to the approval of the TSX Venture Exchange.

SGX Resources Inc. (TSX: V.SXR, Stock Forum) the mineral exploration and development company rose 6.7% to eight cents after announcing that drilling in and around the Tully gold deposit located 25 kilometres north of Timmins continues to identify wide, high-grade veins within and to the east of the main deposit. The highlight was drill holes 13 through 18, which cut seven separate intersections at the eastern extent of the Tully deposit including a new zone of 17.6 metres grading 11.1 grams per tonne gold as well as 7.7 metres of 6.1 grams per tonne gold, less than 250 metres below surface.

Lake Shore Gold Corp. (TSX: T.LSG, Stock Forum) lost 3% to 32.5 cents in mid-morning, but after the bell was unchanged at 33.5 cents. The mine development and operating company announced proposed amendments to certain matters which are to be considered and voted upon at its annual and special shareholder meeting scheduled to be held on May 15, 2013. The management information circular of Lake Shore Gold dated April 15, 2013 indicated that at the meeting, shareholders would vote on the unallocated options, rights and other entitlements issuable pursuant to the stock option plan for the company and confirm a new By-Law No. 2 for the company.

Select Canadian Small/Micro-cap Advancers (as of 4:00 PM Eastern)
Quest Rare Minerals Ltd. (T.QRM, Stock Forum) 42.00%
Rare Element Resources Ltd. (T.RES, Stock Forum) 29.51%
HRT Participacoes em Petroleo S.A. (V.HRP, Stock Forum) 16.35%
Avalon Rare Metals Inc. (T.AVL, Stock Forum) 14.29%
QHR Technologies Inc. (V.QHR, Stock Forum) 11.54%
Select Canadian Small/Micro-cap Decliners (as of 4:00 PM Eastern)
Malaga Inc. (T.MLG, Stock Forum) -50.00%
iCo Therapeutics Inc. (V.ICO, Stock Forum) -27.50%
IBI Group Inc. (T.IBG, Stock Forum) -23.81%
Southern Pacific Resource Corp. (T.STP, Stock Forum) -11.82%
San Gold Corporation (T.SGR, Stock Forum) -11.11%

Tags: INDUSTRIAL METALS & MINERALS GOLD OIL & GAS E&P STOCKS

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