I found a great resource for penny stocks to watch and thought I would share it with my readers. The original article was for small cap stocks, however since my blog is for penny stocks I removed anything trading over $1 and compiled a nice list of 2012 Canadian penny stocks to watch

Yukon-Nevada Gold Corp. (YNG-T 0.280 ), which has been trading near a year low 23 cents, has announced a revised mineral resource estimate for its wholly-owned Jerritt Canyon operating gold mine in Elko County, Nevada, USA. It said Jerritt Canyon’s measured and indicated mineral resource has increased by 428.8K ounces of gold, representing a 21 per cent increase over year-end 2007 levels.

Petroamerica Oil Corp. (PTA-X 0.10 ), which has been trading near a year low 8 cents, announced preliminary results from the Balay-3 appraisal well that was drilled to evaluate the northern extension of the Balay field in the Balay Block of the Llanos Basin, Colombia.

Sea Dragon Energy Inc. (SDX-X 0.09 ) announced that it has entered into an arm’s length share purchase agreement with Golden Crescent Investments Ltd. whereby an indirect wholly-owned subsidiary of Sea Dragon will acquire all of the issued and outstanding shares of National Petroleum Company Egypt Limited for consideration of $60-million (U.S.) in cash and the issuance of 350,000,000 common shares of Sea Dragon to be issued to Golden Crescent at the closing of the Acquisition, at a deemed price of $0.25 (U.S.) per share, subject to any adjustments made in accordance with the terms of the Purchase Agreement.

Nevada Exploration Inc. (NGE-X 0.07 ) reported that AuRico Gold Inc. (AUQ-T 8.750 ) has received the final drill results from AuRico’s 2011 drilling program and that AuRico has elected to terminate the Exploration and Option to Enter Joint Venture Agreement for the Awakening Gold Project.

Hunter Bay Minerals plc (HBY-X 0.21 ) announced it has identified gold mineralization in soil anomalies at the Sela Creek Project. Over the weekend it announced that it has completed a bulk sampling program of the alluvial tailings located within 14 medium scale prospecting and mining permits in the Mazaruni and Puruni Mining Districts of Guyana.

Score Media Inc. (SCR-T 0.90 ) announced today its financial results for the first quarter ended Nov. 30, 2011. The media company said revenue for the quarter increased by $1.6-million or 14 per cent to $13.4-million compared to the previous year’s $11.8-million. EBITDA, however, fell to $1.9-million from last year’s $2.7-million as a result of a planned increase in expenditures on personnel and technology to support the significant growth in the audience of the company’s digital media platforms.

Management company CVTech Group Inc. (CVT-T 0.970 ) announced today that its energy segment subsidiaries have won contracts with a total value in excess of $38-million. Andre Laramee, CVTech President and Chief Executive Officer, said: “These contracts highlight the expertise of our subsidiaries and their strong relationships with the main players in their target markets.”

Bellhaven Copper & Gold Inc. (BHV-X 0.440 ) today announced the appointment of Mr. Patrick Highsmith to the position of Chief Executive Officer and Director. Mr. Highsmith’s appointment will become effective on Feb. 1, 2012.

Thanks to the globe and mail for this great resource

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