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Micro-Caps on Watch; Peregrine Pharmaceuticals Inc. (PPHM), Santo Mining Corp. (SANP), Graystone Co. Inc. (GYST)

Shares of Peregrine Pharmaceuticals Inc (NASDAQ: PPHM), a California based biopharmaceutical Company that is focused on the research, development and commercialization of novel therapeutics for cancer and a wide range of viral diseases, are down sharply in today’s trading.

At last check, PPHM shares were trading 5.57% lower at $0.7271, with volume down from daily average of 13.47 million to 1.38 million. It reached its 52 week high of $5.5 on Sep 21, 2012 and reduced drastically since then.

PPHM had lost over 32% year to date. The stock has been falling drastically right after it announced that the survival rates from its lung cancer study cannot reliable. The company discovered major discrepancies between patient test results and treatment code assignments by the independent contractor responsible for the distribution of the medicine in the study.

Shares of Santo Mining Corp. (OTCBB: SANP), a Mineral Exploration Company that is involved in acquiring near term gold production opportunities in the Dominican Republic, are soaring in today’s trading.

At last check, SANP shares were trading 18.4% higher at $0.7045, with volume up from daily average of 1.01 million to 1.06 million. It reached its 52 week high of $11.00 on Sep 20th and reduced drastically since then.

SANP reported today that it has moved its field operations and modular field office much closer to its previous acquired mining property in the district of Dominican Republic. It also has plans to conduct due diligence on a pipeline of prime gold claims in the area.

Shares of Graystone Co. Inc (OTCQB: GYST), a Nevada based Holding Company focused on diverse business activities including Mineral exploration, advertising and customer acquisition for third party entities, strategic, financial, and operational consulting and real estate acquisition and development, are up sharply in today’s trading.

At last check, GYST shares were trading 4.60% higher at $0.0091, with volume up from daily average of 13.74 million to 4.46 million. The stock has been trading in the range of $0.0080 and $0.0092 so far for the day.

GYST announced that it purchased the necessary equipment for smelting its own gold bars. It expects to begin production in its 988 acres mining property in Gorila, located in northeastern Peru. Based on its recent tests, it estimates 0.76 grams of gold per cubic meter or 0.62 grams per ton in its property.

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