JUNIOR MINER SOARS ON GOLD DRILL RESULTS
Stockhouse
8/12/2009 5:24:49 PM
Gold assays made more than a few shareholders happy Wednesday, while
financial results propelled a health care play.
TORONTO (SHfn) – Gold assays made more than a few shareholders happy
Wednesday, while financial results propelled a health care play.
Lydian International (TSX: T.LYD, Stock Forum), shares surged 105%
to 84 cents on Wednesday after the micro cap explorer announced the
first results from a 14000 metre step-out drilling program recently
initiated at its Amulsar gold discovery in Armenia, which included
82 metres at 2.5 grams per tonne (g/t) gold.
As well, shares of Healthscreen Solutions (TSX: V.MDU, Stock
Forum) gained 18% to 10 cents as the provider of physician practice
enhancement services and electronic medical record software reported
third-quarter revenue that surged 33% to $3,501,141, while net income
from continuing operations was $156,552, compared with a loss of
$735,368 during the same period last year.
WGI Heavy Minerals (TSX: T.WG, Stock Forum), meanwhile, announced
a 15% increase in second-quarter revenue to $7.02 million, while
net income for the quarter was $0.28 million, or a penny a share,
compared with a net loss of $0.72 million, or three cents a share,
in Q2 2008. WGI stock popped 22% to 28 cents.
Alhambra Resources (TSX: V.ALH, Stock Forum) shares soared 150%
to 25 cents after the junior explorer reported that the five member
panel of judges representing the Supreme Court of the Republic of
Kazakhstan heard the company’s appeal to overturn the decisions of the
lower courts of Kazakhstan, which invalidated the original agreement
whereby Alhambra purchased Saga Creek Gold Company LLP. As a result
of this hearing, the Supreme Court issued a verbal ruling reversing
the decisions of the lower courts and dismissed the plaintiffs’ claim.
And, Wescan Goldfields (TSX: V.WGF, Stock Forum) Wednesday said
drilling has begun on its Hudson Bay, Saskatchewan coal exploration
project. Wescan will initially explore a large block of coal permits,
approximately 86 kilometres wide lying north of the Pasquia Hills
in an area where potential depth to coal may be shallow. Within
this northern block, Fugro Airborne Surveys has identified a number
of priority geophysical anomalies that may be related to laterally
extensive coal deposits. Its shares powered 32% higher to 25 cents.
Top Canadian Small/Micro-cap Advancers (as of 4 PM Eastern) Eloda
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T.SFK.UN, Stock Forum) + 43% Top Canadian Small/Micro-cap Decliners
Kingsman Resources (TSX: V.KSM, Stock Forum) – 39% OSE Corp. (TSX:
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