This as potash company applies for mining license.
Stockhouse Canadian Small and Micro-cap Stock Report for Thursday, April 18, 2013 VANCOUVER (SHfn) –
Mandalay Resources Corp. (TSX: T.MND, Stock Forum) jumped 7.5% to 86 cents on Thursday after the precious metals company said it had produced a total of 10,635 ounces of gold, 766 tonnes of antimony and 611,441 ounces of silver, representing a total of 27,128 ounces of gold equivalent. Mandalay also sold 10,635 ounces of gold in the quarter, up from 5,880 ounces of gold in the quarter ending March 31, 2012.
Allana Potash Corp. (TSX: T.AAA, Stock Forum) had lost 1.4 % to 36 cents in mid-morning trading, but was unchanged at $0.365 after the bell. The potash developer had filed its complete feasibility study with the Ministry of Mines in Ethiopia as the final condition for the application of a mining license. In addition, the Environmental, Social and Health Impact Assessment report, which forms part of the mining license application, is in the final approval stages and a decision is expected by the end of April. Exploration drilling has been resumed on the Nova license, located in Danakil, targeting resource expansion in both the western and southern blocks. Additional pilot solution mining-solar evaporation test work is ongoing to optimize operating conditions.
Matamec Explorations Inc. (TSX: V.MAT, Stock Forum) was down 3% to 14.5 cents after the junior rare earth company announced that the Zeus property shows significant high grade rare earth potential outside the Kipawa deposit in Temiscaming, Quebec. Highlights of the 1,420-metre drill program included 7.65 metres grading 0.054% heavy rare earths and 8.20 metres grading 0.056% heavy rare earths.