Stockhouse Canadian Small and Micro-cap Stock Report for Thursday, October 24, 2013 VANCOUVER (SHfn) –
Unigold Corp. (
TSX: V.UGD,
Stock Forum) climbed 23.1% to eight cents as investors assessed the news of the gold miner’s results from recent drilling at its Candelones "Extension Zone" target within the company's, 22,600 hectare Neita Concession in the Dominican Republic. Highlights of the results included 423.6 metres averaging 1.07 grams per tonne gold, 1.2 grams per tonne silver, 0.1% copper and 0.2% zinc including 38.0 metres averaging 5.13 grams per tonne gold, 4.5 grams per tonne silver, 0.5% copper.
High North Resources Ltd. (
TSX: V.HN,
Stock Forum) was up 5.8% to 45.5 cents. The stock is reacting to news that the oil and gas developer intends to complete a portion of the previously announced financing May 14th, 2013, as a brokered financing. On May 14, 2013 the company announced a non-brokered private placement financing for the sale of 15 million non flow-through units at a price of $0.35 per unit and 7.5 million flow-through shares at a price of $0.40 cents per share, for total gross proceeds of $8.25 million. Subsequent to the May 14, 2013 release, the company closed the first tranche of the financing on July 30th, 2013 for $3.4 million. The company now intends to complete a portion of the second tranche as a brokered financing.
Anderson Energy Ltd. (
TSX: T.AXL,
Stock Forum) lost 3.1% to 15.5 cents after the oil and gas company announced that it has closed the previously disclosed sale of its Garrington and Ferrier Cardium oil and natural gas properties, located 150 kilometres northwest of Calgary, Alberta. Proceeds from this transaction were used to repay bank debt. After normal closing adjustments and transaction fees, net proceeds were approximately $78 million and current cash deposits are approximately $24 million. With this sale, the company's existing bank agreement will be terminated. The company has agreed to the terms of a new bank facility of $28 million, subject to customary conditions and documentation. The company initiated the strategic review process in February 2012 and with the completion of this disposition, the company has sold over $150 million in assets, reduced bank debt from $106.7 million at March 31, 2012 to nil at the date hereof and reduced total net debt (defined herein as bank debt plus face value of convertible debentures plus working capital before unrealized gains or losses on derivative contracts) from $230.4 million at March 31, 2012 to approximately $81 million at the date hereof.
| Select Canadian Small/Micro-cap Advancers (as of 4:00 PM Eastern) |
| LX Ventures Inc. (V.LXV, Stock Forum) |
27.59% |
| Unigold Inc. (V.UGD, Stock Forum) |
23.08% |
| Crocodile Gold Corp. (T.CRK, Stock Forum) |
20.83% |
| Pretium Resources Inc. (T.PVG, Stock Forum) |
20.54% |
| ADF Group Inc. (T.DRX, Stock Forum) |
17.92% |
| Select Canadian Small/Micro-cap Decliners (as of 4:00 PM Eastern) |
| Wi-LAN Inc. (T.WIN, Stock Forum) |
-22.85% |
| TAG Oil Ltd. (T.TAO, Stock Forum) |
-6.40% |
| Manitok Energy Inc. (V.MEI, Stock Forum) |
-4.44% |
| Mart Resources Inc. (V.MMT, Stock Forum) |
-3.42% |
| Essential Energy Services Ltd. (T.ESN, Stock Forum) |
-2.68% |