Stockhouse Canadian Small and Micro-cap Stock Report for Wednesday, August 4th, 2010
TORONTO (SHfn) – Eagle Hill Exploration Corp. (TSX: V.EAG, Stock Forum) rose 19% to 25.5 cents after the company released assay results from the first four holes of a summer exploration program at the Windfall Lake property in the Abitibi area of northern Quebec. Eagle Hill said final assays show gold results in all four holes, and indicate that mineralization throughout Zone 27 is continuous.
As well, Trivello Energy (TSX: V.TRV, Stock Forum) jumped 19% to 12.5 cents. The company said it has acquired the Day Copper-Gold Porphyry Property and related claims, located approximately 380 km northeast of Prince George, British Columbia. Drilling in the early 1970s produced intersections including 0.67% copper and 0.84 g/t gold across 58.83 metres.
Mountain Province Diamonds (TSX: T.MPV, Stock Forum) gained 9% to $3.50 after announcing the results of an updated independent valuation of the diamonds recovered from the Gahcho Ku Project in the Northwest Territories during the exploration phase. The Tuzo sample contained a 25.14 carat stone valued at $17,000 per carat and 5034 East had a 9.90 carat stone valued at $15,000 per carat.
Meanwhile, Medoro Resources Ltd. (TSX: V.MRS, Stock Forum) soared 173% to $1.80 after the company’s shares began trading following the previously announced consolidation of its shares on a three-for-one basis. Effective upon implementation, the company said it expected to have more than 140 million shares outstanding.
Finally, Isotechnika Pharma (TSX: T.ISA, Stock Forum) fell 28% to 15.5 cents on news that its partner, Lux Biosciences, Inc., has received a Complete Response letter (CRL) from the U.S. Food and Drug Administration (FDA) regarding their New Drug Application (NDA) for voclosporin. Lux's NDA, filed in February 2010, seeks approval for voclosporin in the treatment of non-infectious uveitis involving the intermediate or posterior segments of the eye. The FDA has requested additional information and recommended that an additional clinical trial be conducted in order to consider a future approval of voclosporin for this indication.
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