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TerraX Minerals (V.TXR) up 18% on NWT option agreement

Elizabeth Walters Elizabeth Walters, Stockhouse
0 Comments| October 30, 2013

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Stockhouse Canadian Small and Micro-cap Stock Report for Wednesday, October 30, 2013 VANCOUVER (SHfn) –

TerraX Minerals Inc. (TSX: V.TXR, Stock Forum) gained 17.8% to 53 cents after the exploration junior entered into an option agreement whereby it can acquire a 100% interest in the Walsh Lake property, which is contiguous with and immediately east of its Northbelt property in the Yellowknife area of the Northwest Territories, Canada. The Walsh Lake property consists of seven leases and five claims totaling 6,659 acres. Historical exploration on the property has produced grab samples as high as 150 grams per tonne gold and drill intersections as high as 15.85 meters at 2.59 grams per tonne gold.

Aldrin Resource Corp. (TSX: V.ALN, Stock Forum) was up 8.0% to 13.5 cents after announcing the appointment of Edward Marlow to its board of directors. Marlow was most recently a Managing Director at Credit Suisse, he founded and ran the African Principal Investments Business at HSBC and was also the Global Head of Principal Investment coverage. Furthermore, the uranium exploration and development company increased its recently announced private placement from $1.0 million to $1.5 million. The financing is comprised of units at $0.10 per unit.

Amerigo Resources Ltd. (TSX: T.ARG, Stock Forum) rose 5.3% to 40 cents after the copper and molybdenum producer announced that its subsidiary, Minera Valle Central S.A. (MVC), has executed a project financing mandate agreement with BBVA Chile and BBVA Securities Inc. (collectively BBVA). The mandate agreement sets out an exclusive arrangement with BBVA describing the activities needed to arrange a loan facility for the planned expansion of MVC's operations required for the processing of old tailings from the historic Cauquenes tailings deposit, located near Santiago, Chile. BBVA has agreed to seek credit approval to provide up to 50% of the amount of the loan facility, and to act as mandated lead arranger and fronting hedge bank. Total estimated cost of the Cauquenes Expansion is US$140 million, to be financed by a combination of funding from the loan facility and internal cash flow. The mandate agreement contemplates the completion of technical, environmental, market, insurance, fiscal and legal due diligence.

Rockgate Capital Corp. (TSX: T.RGT, Stock Forum) rose 2.4% to 21 cents after the mineral exploration company announced that Denison Mines Corp. (TSX: T.DML, Stock Forum) has agreed to reduce the 90% fully diluted minimum tender condition contained in the terms of its offer to acquire all of the issued and outstanding shares of Rockgate for 0.192 of a common share of Denison to 66 2/3% of the Rockgate shares on a fully diluted basis. The offer will be open for acceptance until 4:00 p.m. (Toronto time) on Nov. 18, 2013, unless extended or withdrawn.

Paladin Energy Ltd. (TSX: T.PDN, Stock Forum) was down 2.5% to 39 cents. The stock is reacting to news that further to the uranium producer’s October 3 announcement of a serious incident at the Langer Heinrich mine in Namibia, which injured an employee and two contractors, Paladin advises that the most seriously injured worker passed away today at Millpark Hospital in Johannesburg, South Africa.

Select Canadian Small/Micro-cap Advancers (as of 4:00 PM Eastern)
Midnight Sun Mining Corp. (V.MMA, Stock Forum) 29.41%
Petroforte International Ltd. (V.PFI, Stock Forum) 21.15%
OceanaGold Corporation (T.OGC, Stock Forum) 15.54%
Wi-LAN Inc. (T.WIN, Stock Forum) 6.45%
Cipher Pharmaceuticals Inc. (T.DND, Stock Forum) 5.51%
Select Canadian Small/Micro-cap Decliners (as of 4:00 PM Eastern)
Pacific Potash Corporation (V.PP, Stock Forum) -34.62%
ZoomMed Inc. (V.ZMD, Stock Forum) -33.33%
Perseus Mining Limited (T.PRU, Stock Forum) -10.78%
Cayden Resources Inc. (V.CYD, Stock Forum) -10.29%
01 Communique Laboratory Inc. (T.ONE, Stock Forum) -7.32%


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