Benzinga's Microcap Movers for Wednesday February 22, 2012
Below are highlights from Benzinga's daily coverage of microcap securities making big moves:
American Community Newspapers
Shares of American Community Newspapers (ACNIQ), the Dallas, TX publisher of 3 daily and 83 weekly newspapers, rose 5,300% Wednesday on 5 million shares.
Benzinga contacted American Community Newspapers, but was unable to find a reason for this huge price rise.
American Community Newspapers closed at $0.03 on Wednesday.
Shares of Noah Holdings (NYSE: NOAH), the China-based mutual fund company, rose 29% Wednesday on 5.6 times the average daily volume.
Noah Holdings announced Wednesday that a PRC affiliated entity of Noah, Noah Upright Co. Ltd. was granted a mutual fund distribution license by the China Securities Regulatory Commission. Noah Upright is amongst the first to be granted a mutual fund distribution license after the CSRC began to receive applications last year. Noah Upright, renamed from Shanghai Noah Investment Consulting Co. Ltd., is an independent mutual fund distribution and advisory company serving high net worth individuals in China.
Noah Holdings closed at $7.96 on Wednesday.
Gold Standard Ventures
Shares of Gold Standard Ventures (GDVXF), the Vancouver, BC exploration stage company, rose 49% Wednesday on 7 times the average daily volume.
Gold Standard Ventures reported Wednesday that hole RR11-16 has intersected 185 feet of 0.124 opt (ounces per ton) of gold (56.4 meters of 4.26 grams/Tonne) from 555 to 740 feet (169.2-225.6 meters) including an interval of 60 feet of 0.21 opt of gold (18.3 meters of 7.03 g/T) which contains two five foot intercepts grading above 0.4 opt of gold (14 g/T). Mineralization at this depth could be accessible by open pit.
"The North Bullion Fault Zone hosts a very large, mineralized breccia body that we discovered in late 2010 and explored through 2011. We believe this breccia was mineralized by multiple high-grade gold feeder zones which are blind targets within the more dispersed lower-grade portions of the breccias," states Dave Mathewson, Gold Standard's Vice President of Exploration.
Gold Standard Ventures closed at $1.78 on Wednesday.
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