Junior Miners Jump On Silver Resource Boost

Stockhouse Canadian Small and Micro-cap Stock Report for Monday, February 1, 2010

TORONTO (SHfn) – Speculators gave a small silver play a second look Monday, while a software stock popped on a multi-million dollar contract.

Genco Resources (TSX: T.GGC, Stock Forum) shares climbed 13% to 45 cents on Monday after the micro cap miner reported results of an updated Resource and Reserve audit for its La Guitarra silver/gold mine and Temascaltepec Mining District in Mexico, which showed a 415% increase to 47 million silver equivalent ounces. Reserves and Resources are reported as of December 16, 2009, in accordance with the National Instrument 43-101 Standards of Disclosure for Mineral Projects.

As well, shares of OSI Geospatial (TSX: T.OSI, Stock Forum) shot up 20% to 24 cents as the geospatial systems and software provider announced that its U.S. Operations has signed a contract valued at US$6.5 million with Harris Corporation. Under the terms of this contract, OSI Geospatial will sell all of its rights to its soldier systems intellectual property. The company will recognize the benefits from this transaction in its first quarter ending February 28, 2010.

Innergex Renewable Energy (TSX: T.INE, Stock Forum) and Innergex Power Income Fund (TSX: T.IEF.UN, Stock Forum), meanwhile, said that they have entered into a definitive agreement to undertake a strategic combination of the two entities whereby the Fund acquires INE by way of a reverse take-over at deemed price of $7 per share of INE, thereby effecting at the same time the conversion of the Fund to a corporation. Innergex Renewable Energy stock popped 25% to $6.80.

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