Stockhouse Canadian Small and Micro-cap Stock Report for Wednesday, December 21, 2011
TORONTO (SHfn) – Terraco Gold (TSX: V.TEN, Stock Forum) shares surged 13% to 25.5 cents on Wednesday after the micro cap explorer/developer said it has entered into a tripartite transaction whereby Terraco will have the option to acquire an interest in a net smelter returns royalty on part of the Spring Valley Gold Project in Nevada. The Spring Valley Project is a joint venture between Barrick Gold Corp. and Midway Gold Corp., where Barrick has the right to earn a 60% interest in the Spring Valley Project by completing work expenditures totaling US$30 million before December 31, 2013.
As well, shares of Gran Colombia Gold (TSX: T.GCM, Stock Forum) moved up 18% to 45 cents as the gold junior reported that, further to its announcement on December 12, 2011, that GMP Securities L.P. had been retained to assist the company in the evaluation of several debt financing alternatives, it has signed an exclusive mandate letter with Standard Bank Plc, in conjunction with Pareto Commodities LLC, for the arrangement of a US$100 million senior secured term loan facility to fund the company's plan to increase production at its Segovia operations through the development of a new mechanized mining operation and the acquisition of a new 2,500 tonnes per day mill in addition to its expanded Maria Dama mill.
WCB Resources (TSX: V.WCB, Stock Forum), meanwhile, announced that the junior explorer, through its wholly-owned subsidiary WCB Pacific Pty Ltd., has entered into an exploration Farm-In Agreement with Pan Pacific Copper covering EL1747 located on Misima Island in Papua New Guinea. WCB stock popped 28% to 51 cents
Shares of Rye Patch Gold (TSX: V.RPM, Stock Forum) powered 21% higher to 80 cents after the junior explorer reported that the state district court in Pershing County, Nevada granted access to Rye Patch Gold on the LH claims outside of a court-defined boundary..
And, Longford Energy (TSX: V.LFD, Stock Forum) Wednesday confirmed that it is pursuing negotiations with Genel Energy PLC in relation to the potential sale by Longford of its interest in the Chia Surkh block in the Kurdistan Region of Iraq, however there is no certainty that these negotiations will result in a transaction. Longford shares jumped 53% to 11.5 cents.
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