Stockhouse Canadian Small and Micro-cap Stock Report for Tuesday, October 1, 2013 VANCOUVER (SHfn) –
New Zealand Energy Corp. (
TSX: V.NZ,
Stock Forum) was up 4.4% to 35.5 cents. The stock is reacting to news that the oil and natural gas company has met the finance condition precedent required to acquire strategic upstream and midstream assets from Origin Energy Resources NZ (TAWN) Ltd., a wholly-owned subsidiary of
Origin Energy Ltd. (
OGFGF,
Stock Forum). The purchase price of approximately $33.7 million comprises a $6.0 million deposit from NZEC, $7.9 million from subscription receipts, $1.5 million directly from NZEC, and $18.25 million from
L&M Energy Ltd. (
LLEN,
Stock Forum). The assets are being acquired jointly by NZEC and L&M, and include the Tariki, Waihapa and Ngaere petroleum mining licenses totaling 23,049 acres in the main Taranaki Basin production fairway, located on New Zealand’s North Island, as well as the Waihapa production station and associated gathering and sales infrastructure. On closing, NZEC and L&M will form a 50/50 joint venture to explore, develop and operate the assets.
Rambler Metals & Mining Plc. (
TSX: V.RAB,
Stock Forum) climbed 2.6% to 40 cents as investors assessed the news that approximately 7,800 wet metric tonnes of copper concentrate has been shipped to international markets from the mining and development company’s bulk storage facility in Goodyear's Cove, NL Canada. The company's own sampling estimates an average grade of 30% copper, 6.5 grams per tonne gold and 30 grams per tonne silver. This is the fourth shipment as part of the off-take agreement with Transamine Trading SA and brings the total to approximately 26,000 wet metric tonnes since first concentrate production in late May 2012.
Trevali Mining Corp. (
TSX: T.TV,
Stock Forum) rose 1.2% to 87 cents after the zinc-focused base metals mining company announced that concentrate trucking has commenced from its Santander Zinc-Lead-Silver Mine to the Port of Callao in Lima, Peru. The company currently has approximately 4,000 tonnes of zinc and 1,000 tonnes of lead-silver concentrates stored in its on-site warehouses.
| Top Canadian Small/Micro-cap Advancers (as of 4:00 PM Eastern) |
| Stellar Biotechnologies, Inc. (V.KLH, Stock Forum) |
13.89% |
| Africa Oil Corp. (V.AOI, Stock Forum) |
5.99% |
| Top Canadian Small/Micro-cap Decliners (as of 4:00 PM Eastern) |
| PRD Energy Inc. (V.PRD, Stock Forum) |
-7.48% |
| Petroamerica Oil Corp. (V.PTA, Stock Forum) |
-6.15% |