Stockhouse Canadian Small and Micro-cap Stock Report for Tuesday, October 8, 2013 VANCOUVER (SHfn) –
Tembo Gold Corp. (
TSX: V.TEM,
Stock Forum) soared 47.1% to 12.5 cents after the exploration-stage company proposed to complete a non-brokered private placement consisting of up to 13.3 million units at a price per unit of $0.15 and up to 44.38 million subscription receipts at a price per subscription receipt of $0.15 for total gross proceeds of up to $8.657 million with a minimum financing condition of $7.0 million. The main investors subscribing are NAMF II (Mauritius) Ltd., a junior mining venture capital fund, Stratex Gold A.G., a gold-focused exploration and development company and Concept Capital Management Ltd., a private German based asset management company.
Pacific Rim Mining Corp. (
TSX: T.PMU,
Stock Forum) climbed 42.9% to five cents as investors assessed the news that
OceanaGold Corp. (
TSX: T.OGC,
Stock Forum) and Pacific Rim have entered into a definitive agreement pursuant to which OceanaGold has agreed to acquire all of the issued and outstanding common shares of Pacific Rim in an all-share transaction to be completed by way of a statutory plan of arrangement under the
Business Corporations Act. The all-share deal values Pacific Rim at $12.7 million. Pacific Rim's principal asset is the high-grade, El Dorado gold project in El Salvador.
Great Panther Silver Ltd. (
TSX: T.GPR,
Stock Forum) was down 1.2% to 85 cents. The stock is reacting to news that the mining company has received the environmental impact permit for its 100% owned San Ignacio project in Guanajuato, Mexico. With the granting of the permit, the company has commenced construction of a two-kilometre road to provide access to the new portal for ramp and mine development. "We have already received our explosives permit, so our timeline for the initiation of production from San Ignacio in early 2014 remains on track,” said Robert Archer, President and CEO. “We anticipate that production from San Ignacio will start at about 100 tonnes per day and will be ramped up to about 250 tonnes per day by the end of 2014. The ore will be trucked 22 kilometres to the Cata plant at our Guanajuato Mine Complex for processing."
Petaquilla Minerals Ltd. (
TSX: T.PTQ,
Stock Forum) lost 6.5% to 29 cents after the gold production company announced its fourth quarter and annual operational and financial results. During the quarter and full-year 2013 Petaquilla produced 11,912 ounces of gold and 67,493 ounces of gold respectively. Earnings before interest, taxes, depreciation and amortization were $4.4 million for the quarter and $23.1 million for full-year 2013.
| Select Canadian Small/Micro-cap Advancers (as of 4:00 PM Eastern) |
| Pacific Rim Mining Corp. (T.PMU, Stock Forum) |
42.86% |
| Aldrin Resource Corp. (V.ALN, Stock Forum) |
13.64% |
| UrtheCast Corp. (T.UR, Stock Forum) |
10.00% |
| Zenyatta Ventures Ltd. (V.ZEN, Stock Forum) |
8.54% |
| BNK Petroleum Inc. (T.BKX, Stock Forum) |
7.53% |
| Select Canadian Small/Micro-cap Decliners (as of 4:00 PM Eastern) |
| NeuLion, Inc. (T.NLN, Stock Forum) |
-10.94% |
| Allied Nevada Gold Corp. (T.ANV, Stock Forum) |
-8.60% |
| Sierra Wireless, Inc. (T.SW, Stock Forum) |
-6.35% |
| Tekmira Pharmaceuticals Corporation (T.TKM, Stock Forum) |
-5.65% |
| Argonaut Gold Inc. (T.AR, Stock Forum) |
-5.63% |