Benzinga's Microcap Movers for Monday September 10, 2012
Below are highlights from Benzinga's daily coverage of small cap and microcap securities making big moves:
Shares of Southridge Enterprises (OTC: SRGE), the Dallas, TX mineral exploration company, rose 89.74% Monday on 192 millions shares.
Southridge Enterprises announced Monday it has begun a Multi-million Dollar expansion of its Cinco Minas Mill located at Cinco Minas, Jalisco, Mexico. The new facility's high efficiency expansion will raise full production capacity to 500 ton per day (tpd), a more than 8 fold increase from the current 60 tpd production level, by the end of 2013.
The CMM 500 ton per day (tpd) project, which will be developed and implemented in various phases over the following year, is scheduled for completion by November, 2013, at a total budgeted cost of $21-$23 million.
Southridge Enterprises closed at $0.0074 on Monday.
Medisafe 1 Technologies Corp
Shares of Medisafe 1 Technologies Corp (OTC: MFTH), the Israel-based provider of technology to prevent unauthorized administration of a drug or medicinal substance by hypodermic needle, rose 122% Monday on 110 million shares.
Medisafe 1 Technologies announced Monday that the company intends to issue a one-time special dividend to all existing shareholders pending the perpetual license sale of technology rights to a third party.
As recently reported, Medisafe 1 Technologies has advanced negotiations to enter into a non-exclusive perpetual license agreement that would transfer rights for the full commercialization, marketing and distribution of its patented medicinal locking mechanism and bar-code matching system.
The estimated dividend amount payable to each shareholder of one common stock is $0.01.
Medisafe 1 Technologies closed at $0.004 on Monday.
General Steel Holdings
General Steel Holdings (NYSE: GSI), the China-based operator of steel companies, rose 26.21% Monday on 8 times average volume.
General Steel announced Monday that in view of the unusual market activity in the Company's stock, the New York Stock Exchange ("the NYSE") has contacted the Company in accordance with its usual practice. The Company informed the NYSE that its policy is not to comment on unusual market activity.
General Steel Holdings closed at $1.30 on Monday.
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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