Athabasca Minerals up 20% on strong Q2 financial results

Stockhouse Canadian Small and Micro-cap Stock Report for Tuesday, July 30, 2013 VANCOUVER (SHfn) –

Athabasca Minerals Inc. (TSX: V.ABM, Stock Forum) rose 19.5% to 92 cents after the mineral explorer and management company announced the filing of its second quarter financial results for the three months ended May 31, 2013. Athabasca reported record second quarter revenues in the amount of $6.28 million compared with $3.2 million during the second quarter of 2012. Also, the company had a net income of $847,445 compared with $721,252 during the same quarter 2012.

Canada Carbon Inc. (TSX: V.CCB, Stock Forum) also lost 10% to 13.5 cents after the graphite explorer announced the closing of a non-brokered private placement which raised gross proceeds of $300,000. Specifically, the company issued two million units at $0.15 with each unit consisting of one common share in the capital of the company and one half of one common share purchase warrant, with each whole warrant being exercisable for the purchase of an additional common share for a period of three years from closing at $0.25 per common share. The company intends to use the proceeds of the private placement for general corporate and working capital purposes.

NexGen Enegry Ltd. (TSX: V.NXE, Stock Forum) was down 7.9% to 35 cents. The stock is reacting to news of the uranium exploration and development company completing the first recorded drill program on the Radio uranium property, located in the Athabasca Basin. According to NexGen, the drilling confirmed the presence of significant bleaching, desilicification, clay alteration, and structural disruptions in the overlying Athabasca sandstone, and of clay alteration and structures in the basement rocks. Results of the drilling program are expected within the next two months and will be reported when all analytical data has been received.

New Zealand Energy Corp. (TSX: V.NZ, Stock Forum) fell 1.5% to 32.5 cents on Tuesday after the oil and gas company (NZEC) signed a binding letter agreement with L&M Energy Ltd. (LME), a privately held exploration company, whereby LME will pay NZEC $18.25 million to form a 50/50 joint venture to explore, develop and operate the Tariki, Waihapa and Ngaere petroleum mining licenses, located in the Taranaki Basin of New Zealand's North Island, the Waihapa production station and associated pipelines and infrastructure. NZEC will become the operator of the TWN licenses and the Waihapa production station. Decisions regarding exploration, development and operations of the Waihapa assets will be made by management committees with equal representation from both companies. NZEC believes the Waihapa assets acquisition and TWN joint venture will provide significant benefit to its shareholders, transforming NZEC into a fully integrated upstream/midstream company with the cash flow, infrastructure and inventory to support long-term growth.