The Day’s Heaviest Traded Picks ERD, ARQL, YMI, SLPO and FAN - Sourced Picksthatmove
Calgary - Alberta 3/31/2010 05:21 PM GMT (TransWorldNews)
The Day’s Heaviest Traded Picks
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Erdene Resource Development (TSX: ERD), is trading heavily on the TSX today surging past its average volume of 157,200 to 11,112,700 shares, on no news. ERD hit a high of 0.45 today surpassing past its 52 week-high of 0.40 from last November. ERD is up 40.00% or 0.12 cents trading at 0.42, with the day’s low sitting at 0.31. ERD Resource is in the business of exploration and development of mineral deposits and is principally focused on the discovery of large tonnage, copper, molybdenum, coal and uranium deposits in Mongolia. Last announcement from the company was in February commenting on the news by Xstrata Coal with respect to the Donkin Coal Project. Erdene holds a 25% interest in the Donkin Coal Alliance with its partner Xstrata Coal Canada, which holds a 75% interest. Xstrata advised that it will now be developing the project based on the sales into the coking coal market. The revised Donkin Coal Project is expected to produce around 2.75 million tonnes of coking coal. This particular project is located in Cape Breton, Nova Scotia.
ArQule Inc. (NASDAQ: ARQL), is up 95.71%, up 3.35 @ 6.85, on news that its ARQ197 when used together with erlotinib showed a 66% improvement in patients with advanced refractory non-small cell lung cancer. ArQule Inc. is a biotechnology company focused on the research and development of next generation, small-molecule cancer therapeutics. ARQ197 is the company’s lead product which is in Phase 2 clinical development. ArQule is also testing its ARQ621 product which is in the Phase 1 stage. ARQL moved past its 52 week-high of 6.38 to hit the day’s high of 7.49 with a low of 6.00.
YM BioSciences Inc. (AMEX: YMI), is a product development company which identifies and advances a diverse portfolio of promising cancer-related products which are at various stages of development. Shares of YMI are heavily traded today moving past its average volume, up 6.14% or 0.07 cents @ 1.21. YMI announced that it has been granted approval from the ethics board to expand enrolment in its Phase I/II clinical trial of CYT387. CYT387 is an oral inhibitor targeting the treatment of a group of haematological disorders. This product is for treatment of patients with a chronic debilitating condition where the patient’s bone marrow is replaced by scar tissue.
Superlattice Power Inc. (OTCBB: SLPO), is up 36.76% at 0.047 on heavy volume as it announced the development of its fast charge 80% state of charge battery pack in less than 30 minutes. Technologists at Superlattice have resourced a new cathode material which is marked as safe and environmentally friendly manganese based mixed oxide with minimum thermal run away. Two charger models will be introduced with a power rating from 30kW to 40kW. The charge is in its final stages and will be produced in the USA. Shares of SLPO are trading in the range of 0.038 to 0.06 with its 52 week-high sitting at 0.35 from October 2009.
Farallon Mining Ltd. (TSX: FAN), is heavily traded today and just one penny shy of hitting its 52 week-high of 0.65. Shares of FAN are trading in the range of 0.59 to 0.64, up 5.08% at 0.62. Farallon Mining is a based in Canada with operations on its zinc polymetallic mine in Mexico. The G9 mine moved into commercial production in April of 2009. Farallon Mining released an update stating that the G9 operations have continued to increase throughput rates in the first quarter of 2010 and are now in steady operation of 1,900 tonnes per day. The company reports that metallurgical recovery has continued to improve over the same period with zinc recovery of 84% and copper recovery of 68% for the month of March.
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