North American Nickel (V.NAN) soars 62% on drilling results

Stockhouse Canadian Small and Micro-cap Stock Report for Friday, August 23, 2013 VANCOUVER (SHfn) –

North American Nickel Inc. (TSX: V.NAN, Stock Forum) soared 46% to 27 cents on Friday after the exploration company announced that diamond drill hole MQ-13-026 intersected an 18.62 metre core length of sulphide mineralization averaging approximately 40 - 45% total sulphides, including numerous sections containing 65% to 80% sulphides, within noritic host rocks at the Imiak Hill nickel-copper-cobalt zone on the Maniitsoq project on the southwest coast of Greenland.

VMS Ventures Inc. (TSX: V.VMS, Stock Forum) climbed 7.1% to 22.5 cents as investors assessed the news that VMS owns approximately 27.5% of North American Nickel.

Scorpio Gold Corp. (TSX: V.SGN, Stock Forum) was up 14.3% to 24 cents after the gold mining company announced its financial results for the second quarter ended June 30, 2013. During the quarter the company reported a net loss of $7.8 million or $0.05 basic and diluted per share following non-cash impairment charges of $9.9 million or $0.06 basic and diluted per share, compared to net earnings of $2.6 million or $0.01 basic and diluted per share during the second quarter of 2012. In accordance with International Financial Reporting Standards, Scorpio Gold deemed the sharp decline in commodity prices during the second quarter of 2013 as an indicator of impairment. "As with many North American metal producers, our net earnings in Q2 2013 were impacted by a non-cash asset write down known as an impairment charge to reflect lower metal prices. The Mineral Ridge operation otherwise posted a very strong quarter in terms of revenues and mine operating earnings,” said Peter Hawley, CEO. Scorpio produced10,769 ounces of gold throughout the quarter compared to 7,394 ounces in the second quarter of 2012.

Paladin Energy Ltd. (TSX: T.PDN, Stock Forum) lost 3.4% to 56 cents ahead of the uranium-focused company’s Aug. 29, 2013 telephone conference call providing an update on the company's activities.