U.S. Geothermal (T.GTH) up 14% on milestone, Champion up 9% on investment

Stockhouse Canadian Small and Micro-cap Stock Report for Thursday, August 1, 2013 VANCOUVER (SHfn) –

U.S. Geothermal Inc. (TSX: T.GTH. Stock Forum) climbed 14% to 57 cents after the renewable energy company said that final completion of the 22 megawatt (net) Neal Hot Springs project, located in Malheur County, Oregon, has been achieved. The Neal Hot Springs project deployed a first of its kind binary cycle process, utilizing a supercritical cycle that uses R134a refrigerant as the working fluid, as well as pre-fabricated modular construction of major plant components. The project is selling electricity to Idaho's largest utility, Idaho Power Co., under a previously signed 25-year power purchase agreement for up to 25 megawatts of power per year. Beginning in 2012, the base energy price is $96 per megawatt Hour and escalates annually.

Champion Iron Mines Ltd. (TSX: T.CHM, Stock Forum) was up 9% to 24 cents. The stock is reacting to news that the exploration and development company has completed a private placement financing with Baotou Chen Hua Investments Ltd., a Hong Kong investment company, for the acquisition by Baotou of 15 million units at a subscription price of $0.20 per unit for aggregate proceeds of $3.0 million. "We are very pleased and encouraged with this strategic investment from Baotou, whose experience and network in China will be instrumental in Champion's search for a project partner for our 100%-owned Consolidated Fire Lake North project,” said Tom Larsen, President and CEO of Champion. The proceeds of the transaction will be used to continue the feasibility study and technical work in connection with the development of the consolidated Fire Lake North project in the Fermont Iron Ore District, Quebec.

Contact Exploration Inc. (TSX: V.CEX, Stock Forum) rose 8% to 27 cents after the oil and gas company announced that due to demand from potential investors, it has increased the size of its previously announced brokered private placement. Contact has agreed to increase the number of common shares to up to 14 million from 12.5 million at an issue price of $0.26 per common share and to increase the number of flow-through shares to up to 9.53 million from 5.83 million at an issue price of $0.30 per flow-through share for aggregate gross proceeds of up to $6.5 million. Proceeds from the private placement will be used to fund the company's drilling and operational activity in the East Kakwa Montney project area in the Deep Basin in Alberta and for general corporate purposes.

NexGen Energy Ltd. (TSX: V.NXE, Stock Forum) climbed 2.7% to 38 cents, but after the bell was unchanged at 37 cents as investors assessed the news that the uranium exploration and development company has doubled the size of its previously announced non-brokered private placement. The company now intends to issue up to an aggregate of approximately 10.1 million units at a price of $0.35 per unit, for aggregate gross proceeds of up to approximately $3.54 million. The gross proceeds will be used for exploration of the company's projects in the Athabasca Basin of Saskatchewan and for general administration costs and corporate purposes.