Stockhouse @ the Bell: S&P back above 1400; TSX ends higher

Today on Stockhouse

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Peter Kennedy assesses one gold junior’s baffling tumble in his Stockhouse Short Report.

Top Bullboards post: Sometimes I think we do not realize what a jewel we have in La Mancha. Will give you an example. Today I asked a friend of mine who used to own LMA at one point or another to compare Inmet with La Mancha. After pondering for a while, he stated that he failed to see any common grounds between these two. Then he remarked something to the effect that anyone knows that Inmet is one of the world's richest copper producers. I asked what did he think about copper LMA owns in Sudan. He was genuinely surprised to learn that La Mancha is sitting potentially on MILLIONS of tons of copper thus bringing the comparison to Inmet. Inmet and La Mancha have two other things going on for them - One, they have beautifully tight share float and boast a lot of cash. I will repeat myself by putting on record that, LMA valuation, solely on reported indicated and inferred resources, based on only 2 out of the 12 properties drilled so far, LMA share price should be $12. And that does not count Frog's Leg and other Australian operations neither the Ivory Coast mine and prospective properties. All and all, I will not be surprised to see another $5 on top of Sudanese operations. One more thing. Inmet is in the process of PEA and pre feasibility studies on their huge Panama based copper mine. The estimated project Capex varies from a couple to six BILLION $. To develop its VMS project in its entirety, LMA is looking at several BILLION $ and there are only few commercial interests capable of raising such sum. My first pick on this very short list of candidates is a Chinese- backed entity.From ak27 on the La Mancha Resources (TSX: T.LMA, Stock Forum) board.

Top Bullboard: Great Western Minerals Group (TSX: V.GWG, Stock Forum) received the most reads and the second-most posts.

Top blog:Boot1 believes this silver junior is set to move up to mid-tier status in The Lunar Metal blog.

For news about small stocks that made big moves Thursday’s trading, please read the Stockhouse Canadian Small and Micro-cap Stock Report.

Word on Wall Street

"The economic data has dramatically improved over the last couple of months," said Ryan Detrick, senior technical strategist at Schaeffer's Investment Research, in an interview with CNNMoney. "The jobs numbers are gradually getting better, and that's the most important factor for the economy and stock market."

Today In The Markets

Rising commodities, solid U.S. economic data supports Toronto stock market

DJIA	13,252.76	+58.66
NASDAQ	3,056.37	+15.64
S&P500	1,402.60	+8.32
S&P/TSX	12,455.82	+77.92
S&P/TSX Venture	1,601.52	+7.17

TORONTO-NEW YORK (The Canadian Press) - The Toronto stock market racked up a solid gain Thursday as further evidence that the U.S. economy is continuing its slow but steady revival sparked gains across most sectors.

The S&P/TSX composite index rose 77.92 points to 12,455.82 while the TSX Venture Exchange added 7.17 points to 1,601.52.

The Dow Jones industrials rose 58.66 points to 13,252.76. The Nasdaq composite index gained 15.64 points to 3,056.37 and the S&P 500 index was up 8.32 points to 1,402.6.

Please click here for the complete U.S. and Canadian market summaries.

After-Hours News

Rare Element Resources (TSX: T.RES, Stock Forum)
After Thursday’s close, the mineral resource company said it has entered into an agreement with the Australian Nuclear Science and Technology Organization to develop and test a process to produce separated rare earth products from concentrates derived from ore material at the Bear Lodge project, Wyoming. Rare Element has also begun metallurgical testing of drill core samples from the three project areas that were discovered to contain heavy rare earth elements (HREEs) as announced in August, 2011.