Junior explorer surges 55% as key investor raises stake

Stockhouse Canadian Small and Micro-cap Stock Report for Tuesday, October 2, 2012

TORONTO (SHfn) – Vantex Resources (TSX: V.VAX, Stock Forum) shares jumped 55% to 15.5 cents on volume of more than 3.9 million shares Tuesday as the micro cap explorer announced that mining executive Rob McEwen, founder and former CEO of Goldcorp, has increased his stake in Vantex by 500,000 shares, bringing his total investment to 7.8 million shares, or approximately 12.4% of the company's currently issued and outstanding stock.

As well, shares of Pacific Booker Minerals (TSX: V.BKM, Stock Forum) plummeted 67% to $4.95 after the British Columbia government said it has decided to refuse to issue an Environmental Assessment certificate for the company’s Morrison porphyry copper/gold/molybdenum project as proposed.

Torex Gold Resources (TSX: T.TXG, Stock Forum), meanwhile, announced that it would be conducting a $350 million bought deal financing at $2 per unit. The company added that net proceeds will be used to fund the development of the Morelos Gold Project and for general corporate purposes. Torex Gold stock dropped 9% to $1.94 on more than 7.5 million shares traded.

And, OPEL Technologies (TSX: V.OPL, Stock Forum) Tuesday said it continues to work with Northern States Metals to conclude the agreement with them involving the sale of certain solar assets announced by the company on August 30, 2012, and have agreed to extend the exclusivity period until October 12, 2012. OPEL shares rose 13% to 42.5 cents.