Benzinga's Microcap Movers for Tuesday June 26, 2012
Below are highlights from Benzinga's daily coverage of small cap and microcap securities making big moves:
Shares of Aeterna Zentaris (NASDAQ: AEZS), the Canadian biopharmaceutical company, rose 18% Tuesday on 4.5 times the average daily volume.
Aeterna Zentaris announced Tuesday that final Phase 3 results for its oral ghrelin agonist, AEZS-130, show that the drug is safe and effective in diagnosing adult growth hormone deficiency. Jose M. Garcia, MD, PhD, of the Baylor College of Medicine and the Michael E. DeBakey VA Medical Center, disclosed these data during an oral presentation yesterday at the 94th ENDO Annual Meeting and Expo currently being held in Houston, Texas.
Aeterna Zentaris closed at $0.54 on Tuesday.
Green Energy Renewable Solutions
Shares of Green Energy Renewable Solutions (EWRL), the Las Vegas, NV construction and demolition waste processing company, rose 303% Tuesday on 4 million shares.
Green Energy provided an update Monday on recycling operations at its Highland Park, Michigan facility.
Green Energy purchased a 5-acre parcel of land in Highland Park, Michigan in November 2011 and began preparation of the site to receive construction and demolition waste. The site is cleared and most of the necessary equipment is in place to receive waste material and begin advanced recycling operations to recover valuable materials in the waste stream. Green Energy is working closely with local officials to complete the permitting process and expects to commence full operations within 60 days. When complete, Green Energy's plan is to process 750 tons per day by the end of the third quarter generating annual "tipping fee" revenues of approximately $2,600,000 and significant revenues from recovered recyclable materials.
Additionally, Green Energy has agreed to purchase an adjacent 10-acre parcel to complete the recycling facility. The property is strategically located to make it attractive to locally contracted haulers and the permitting process for acceptance and processing of C&D waste is underway.
Green Energy Renewable Solutions closed at $0.65 on Tuesday.
Shares of GeoGlobal Resources NYSE: GGR), the Canadian oil and gas exploration comapany, rose 12.47% Tuesday on 3 times the average daily volume.
GeoGlobal Resources provided an operational update Monday on its Israeli operations and its preparations to spud its first well offshore Israel.
On June 21, 2012, the Noble Homer Ferrington Semi-submersible drill rig arrived at the Myra-1 location and final preparations are being undertaken to commence drilling the Myra-1 well in the next few days.
"We are excited to commence the drilling of our first deep water offshore well in the already prolific Levantine Basin off the coast of Israel," said Paul B. Miller, President and CEO of GeoGlobal. "Our facilities and personnel are ready to begin drilling which is the first step in unlocking the value in these licenses."
GeoGlobal Resources closed at $0.36 on Tuesday.
The information in this article is taken from public sources, press releases, and websites that cannot always be verified. Please note that investing in microcap stocks is highly speculative. The companies mentioned here are for information purposes only. Benzinga makes no claim as to the suitability of these stocks as an investment. Neither Benzinga nor its staff recommend that you buy, sell, or hold any security. We do not offer investment advice, personalized or otherwise. Benzinga recommends that you conduct your own due diligence and consult a certified financial professional for personalized advice about your financial situation.
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