Stockhouse Canadian Small and Micro-cap Stock Report for Friday, November 27, 2009

TORONTO (SHfn) – A Far East uranium junior was put in play Friday, while a popular gold stock got rocked by a legal challenge.

Khan Resources (TSX: T.KRI, Stock Forum) shares climbed 39% to 61 cents on Friday after Russian uranium producer Atomredmetzoloto JSC said it had made an all-cash offer to acquire the Toronto-based miner in a deal valued at $35.1 million, or 65 cents a share, according to The Associated Press.

As well, shares of U3O8 Corp. (TSX: V.UWE , Stock Forum) shot up 15% to 63 cents as the junior miner reported that the Guyana Government has granted U3O8 Corp's wholly-owned subsidiary, Prometheus Resources (Guyana) Inc., extensions to the expiry dates on the company's two Reconnaissance Permits. These permits allow U3O8 Corp. the exclusive rights to explore for uranium within the Roraima Basin and adjacent basement rocks in Guyana, South America.

Ventana Gold (TSX: T.VEN, Stock Forum), meanwhile, announced that it has been advised that Sociedad Minera La Bodega Limitada, the owner of the mineral rights to the La Bodega property in Colombia, is seeking an arbitration in relation to an option agreement with CVS Explorations Ltda., Ventana's 100%-owned subsidiary. The request for arbitration is an attempt by the vendor to invalidate the option agreement and have the property returned to the vendor. Ventana stock slid 13% to $9.76.

And, Bennett Environmental (TSX: T.BEV, Stock Forum) had reported that on November 2, 2009, that the prime contractor for the Pottersburg Creek PCB clean-up project had authorized the company to receive material above the originally contracted amount. Bennett announced on Friday that this change has now been quantified and the purchase order has been increased from a maximum of 78,000 tonnes to a maximum of 120,000 tonnes. The extension of the purchase order does not guarantee that the full volume will be shipped or the timing of shipments. Its shares surged 12% to $1.63 on the news.