Junior resource stock soars 122% on government ruling

Stockhouse Canadian Small and Micro-cap Stock Report for Friday, January 18, 2013

TORONTO (SHfn) – Eco Oro Minerals (TSX: T.EOM, Stock Forum) shares soared 122% to $1.40 on volume of more than 2.3 million shares Friday after the Colombian government said it will allow mining companies that already have licenses and environmental permits to continue to work inside the Regional Park of Santurbán, although no new projects will be permitted. Eco Oro added that the initial assessment indicates that the officially declared boundaries do not impede development of its Angostura gold project.

As well, shares of Jaguar Mining (TSX: T.JAG, Stock Forum) rose 11% to 74 cents as the micro cap gold producer announced that its full year 2012 production totaled 102,823 ounces of gold, in line with its most recent public guidance targets. Fourth-quarter gold production totaled 21,676 ounces.

ProMetic Life Sciences (TSX: T.PLI, Stock Forum), meanwhile, reported that it has received confirmation from Octapharma of the regulatory approval of Octaplas by the Food and Drug Administration for the U.S. market. ProMetic stock moved up 16% to 36 cents.

And, Crocodile Gold (TSX: T.CRK, Stock Forum) Friday announced fourth-quarter production of 62,147 ounces of gold, an increase of 35% over the third quarter of 2012. For the full year 2012, the company produced 155,523 ounces of gold. Crocodile Gold shares added 3% at 34 cents.