Stockhouse Canadian Small and Micro-cap Stock Report for Friday, March 20, 2009
TORONTO (SHfn) A surge in a shale gas resource powered a small explorer Friday, while a cyber stock gained ground on soaring revenue.
Stealth Ventures (TSX: V.SLV, Stock Forum) shares jumped 25% to 12.5 cents on Friday after the micro cap explorer announced results of its 2008 independent reserve evaluation, which estimates that total proved plus probable reserves from its Alberta shale gas property increased 71% in 2008 from the precious year.
As well, shares of Tundra Semiconductor (TSX: T.TUN, Stock Forum) surged 47% to $4.50 as Gennum Corporation (TSX: T.GND, Stock Forum) said it will acquire all of the issued and outstanding shares of Tundra for a total purchase price of approximately CDN$86 million. The purchase price payable by Gennum for each Tundra common share will be, at the election of the holder, CDN$4.43 in cash or 1.1575 common shares of Gennum, or a combination thereof.
Harry Winston Diamond Corporation (TSX: T.HW, Stock Forum), meanwhile, said it and Kinross Gold (TSX: T.K, Stock Forum) have signed a subscription agreement further to which Kinross will make a net investment of US$150 million in exchange for an indirect interest in the Diavik Diamond Mine in Canada's Northwest Territories and a 19.9% shareholding in Harry Winston. Harry Winston stock popped 35% to $3.08.
Shares of Cyberplex (TSX: T.CX, Stock Forum) shot up 55% to 79 cents after the provider of online performance-based advertising solutions reported 2008 revenue of $57.3 million, an increase of 225% over the $17.7 million reported for 2007. The company also recorded earnings per share of 11 cents for the year, compared with a loss of three cents a share in 2007.
And, Baffinland Iron Mines (TSX: T.BIM, Stock Forum) late Thursday said that it has been advised by KfW IPEX-Bank that its Mary River Iron Ore Project in Nunavut is eligible in principle for untied loan guarantees from the Federal Republic of Germany. Its shares soared 31% to 31.5 cents.
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