Stockhouse Canadian Small and Micro-cap Stock Report for Wednesday, October 9, 2013 VANCOUVER (SHfn) –
Allana Potash Corp. (
TSX: T.AAA,
Stock Forum) gained 9.3% to 47 cents after the exploration and development company announced the issue of a mining license for the Danakhil Potash project by the Ethiopian Ministry of Mines, after receiving approval of the Ethiopian Council of Ministers. With the receipt of the license, Allana now has the required regulatory approvals to complete the development phase of the project and move directly to contracting, construction and operations.
Lake Shore Gold Corp. (
TSX: T.LSG,
Stock Forum) climbed 7.0% to 38 cents after the gold mining company announced details of operating results for the third quarter and first nine months of 2013. For the third quarter of 2013, the company reported total gold sales of 32,300 ounces at an average price of US$1,324 per ounce. For the first nine months of 2013, 630,900 tonnes were processed at an average grade of 4.3 grams per tonne for 82,300 ounces of gold production. Gold poured totaled 78,200 ounces with gold sales of 86,000 ounces at an average price of US$1,444 per ounce. Grades continue to improve with average grade in third quarter 2013 of 4.6 grams per tonne.
Africa Hydrocarbons Inc. (
TSX: V.NFK,
Stock Forum) climbed 4.8% to 11 cents as investors assessed the news of the international oil and natural gas company’s operational update regarding its BHN-1 exploration well on the Bouhajla Permit in northeastern Tunisia. As previously announced, the BHN-1 well penetrated 245 metres of chalky limestones of the targeted Abiod formation within the Bouhajla North prospect. Further log evaluation was conducted on Sept. 25, 2013 using a pulse-neutron logging tool, previously unavailable in country, to determine pore saturations within the Abiod. The results of the pulse-neutron log are indicative of elevated hydrocarbon saturations throughout the Abiod reservoir section with no indication of having intersected a water contact. The pulse-neutron log interpretation was consistent with the other data and observations related to the wellbore. Two six meter intervals over interpreted fracture zones near the bottom of the logged Abiod reservoir section have been identified for possible flow and testing analysis. The BHN-1 completion protocol will be similar to that successfully employed by the operator of the Sidi el Kilani field twenty-five kilometres to the east of BHN-1. After perforating, an acid wash of the perforations will be carried out followed by an acid squeeze into the formation. Cleaning and treating of the drilling fluids/solids and removal from the waste pit at BHN-1 is underway and is expected to take approximately three weeks to complete before commencement of further operations.
ATAC Resources Ltd. (
TSX: V.ATC,
Stock Forum) lost 3.7% to 78 cents after the exploration company reported results from four diamond drill holes recently completed at the Conrad Zone, located within the 12 km² Osiris cluster of gold zones (Conrad, Osiris, Isis East and Sunrise) at the eastern end of ATAC's Rackla gold project in central Yukon. The highlight was hole OS-13-219, which intersects significant gold mineralization in both the Conrad Upper and Lower Zones - 68.58 metres of 4.23 grams per tonne gold and 33.86 metres grading 5.40 grams per tonne gold, respectively.
Sabina Gold & Silver Corp. (
TSX: T.SBB,
Stock Forum) fell 10% to 81 cents after the emerging precious metals company announced it has received the results of the preliminary feasibility study (PFS) for its Back River gold project in Nunavut, Canada. Highlights of the 2013 PFS included an economic, achievable mine plan focused on mining lower cost, higher grade material as early as possible in the mine life, as well as a logistics and transportation plan that provides a clear picture of how equipment, supplies and personnel will access the project during construction and operations. The PFS outlines an execution plan proposing potential gold production beginning in the fourth quarter of 2017.
| Select Canadian Small/Micro-cap Advancers (as of 4:00 PM Eastern) |
| Route1 Inc. (V.ROI, Stock Forum) |
57.14% |
| Zenn Motor Company Inc. (V.ZNN, Stock Forum) |
15.00% |
| BNK Petroleum Inc. (T.BKX, Stock Forum) |
7.64% |
| Sierra Wireless, Inc. (T.SW, Stock Forum) |
6.95% |
| Horizons BetaPro COMEX Silver Bear Plus ETF (T.HZD, Stock Forum) |
4.01% |
| Select Canadian Small/Micro-cap Decliners (as of 4:00 PM Eastern) |
| Barkerville Gold Mines Ltd. (V.BGM, Stock Forum) |
-53.28% |
| East Asia Minerals Corporation (V.EAS, Stock Forum) |
-41.18% |
| Carpathian Gold Inc. (T.CPN, Stock Forum) |
-33.33% |
| Pretium Resources Inc. (T.PVG, Stock Forum) |
-30.53% |
| Tekmira Pharmaceuticals Corporation (T.TKM, Stock Forum) |
-11.68% |