One of the most heavily traded small-cap winners in a buoyant Friday session was

Crystallex International

( KRY).

Shares of the gold miner shot up 17.4% to $3.10 on promising news regarding its ongoing attempts to get construction and development permits for its Las Cristinas project in Venezuela. After holding hearings on the issue earlier this month, according to the company, the chairman of a Venezuelan National Assembly commission "reiterate

d demands to the Ministry of Environment to grant the corresponding license, thus allowing the mining development to begin."

ScanSource

(SCSC) - Get Report

soared 20.2% after sprinting past fiscal first-quarter estimates with a profit of $15 million, or 57 cents a share, excluding penny-a-share costs related to an internal stock-option probe. The Greenville, S.C., specialty tech-products distributor also said revenue totaled $553.7 million. Analysts polled by Thomson Financial sought 48 cents a share on sales of $544.1 million.

Shares were up $6.24 to $37.19, which gave legs to both the Russell 2000 and the S&P SmallCap 600. The sector trackers ramped up 1.9% and 1.8%, respectively.

Sierra Wireless

(SWIR) - Get Report

, a communications-equipment maker, jumped 13.7% to $21.69 after third-quarter income leapt more than eightfold year over year to 33 cents a share for a 6-cent per-share beat. The Canada-based company also pegged next-quarter earnings at an above-par 35 cents a share.

Elsewhere,

Graham

(GHM) - Get Report

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ratcheted up 27.7% on a few pieces of good news. The Batavia, N.Y., maker of vacuum- and heat-transfer equipment reported a soaring fiscal second-quarter profit of $29.6 million, or $1.10 a share, on sharply higher revenue of $23.1 million. A year ago, the company made just 14 cents a share on revenue of $15.9 million.

Graham also announced a 5-for-4 stock split, which will apply to shares owned on Nov. 30, and upped its post-split dividend by a half-penny to 3 cents a share. Its stock was changing hands at $58.25.

On the flipside,

Online Resources

( ORCC) took a 30.6% nosedive on soft guidance. The Chantilly, Va., company expects "core" fourth-quarter earnings between 10 cents and 13 cents a share on sales of between $37.3 million to $38.8 million. Analysts are seeking 14 cents a share on $39.2 million in sales. Shares of the company, which sells outsourced Web-based financial-technology services, were off $3.76 at $8.53.

ValueVision Media

(VVTV)

, meanwhile, cut its 2007 outlook and announced that the company board has pushed out CEO William Lansing. Board chairman John Buck will replace him in the interim.

As for guidance, the Minnesota direct-marketing company sliced $10 million off its 2007 projection for earnings before interest, taxes, depreciation and amortization, now pegging the figure at between $5 million to $10 million. Revenue expectations were lowered to low-single-digit growth from the prior range of 6% to 8%.

Shares were sliding $1.11, or 17.2%, to $5.35.

Finally,

Bionovo

(BNVI)

fell hard after the Emeryville, Calif., drugmaker offered 10 million of its shares at $2.50 apiece -- a 21.4% discount to the stock's latest closing price -- as well as 5 million 10-cent warrants with a $3.50 exercise price. Underwriters have a 30-day option for up to another 15% of the offering in order to cover overallotments.

Net proceeds should be around $24 million. Shares gave up 23% to $2.45.