Stockhouse Canadian Small and Micro-cap Stock Report for Wednesday, November 27, 2013 VANCOUVER (SHfn) –
Belo Sun Mining Corp. (
TSX: T.BSX,
Stock Forum) rose 22.4% to 41 cents on Wednesday after the gold exploration company received notice that the Court of Appeal Judge (Tribunal Regional Federal) has overturned the preliminary interlocutors decision of the Federal Judge of Altamira and has repealed the injunction sought by the Brazilian Public Prosecutor's Office against the State Government of Para and the company. The repealed injunction challenged the validity and legality of the preliminary environmental licensing process in respect of the Volta Grande project, located in northern Brazil. The Federal Judge had granted a preliminary, temporary interlocutors decision to suspend the licensing process until the completion of studies of the indigenous tribes located more than 10 kilometres away from the Volta Grande project."Belo Sun is pleased with the decision of the Court of Appeal Judge and will continue to work with regulatory and legal authorities to advance the project licensing process," said Mark Eaton, President and CEO. "The next step will be the completion of the meeting of the Environmental Council of Para State, Brazil in respect of the preliminary license on Dec. 2, 2013."
Mazorro Resources Inc. (
TSX: V.MZO,
Stock Forum) slipped 28.6% to 2.5 cents as investors assessed the news the junior miner entered into an asset purchase agreement for the acquisition of a 100% interest in a total of 81 claims covering approximately 4,300 hectares in the Monster Lake area, located approximately 44 kilometres southwest of the town of Chibougamau, Quebec. The claims acquired comprise two blocks: one block comprising 40 claims is located immediately to the west and contiguous to
TomaGold Corp.'s (
TSX: V.LOT,
Stock Forum) Monster Lake property and the second block comprising 41 claims is located to the southeast of TomaGold's property and adjoins various other land holdings in the area. Since 1984, over 40,000 metres of diamond drilling has been completed by various operators along the over four-kilometre mineralized corridor at the Monster Lake area. In the winter of 2012, TomaGold drilled 16 holes for a total of 2,420 metres on the Annie zone, which resulted in a major discovery of 237.6 grams per tonne of gold over 5.7 metres in hole M-12-60. Under the terms of the agreement, the company will pay the vendor,
Synergy Acquisition Corp. (
CNSX: QMP,
Stock Forum), an arm's-length party to Mazorro, a total of $50,000 in cash and issuing a total of 4.0 million common shares and 1.0 million warrants of the company.
| Select Canadian Small/Micro-cap Advancers (as of 4:00 PM Eastern) |
| Augusta Resource Corporation (T.AZC, Stock Forum) |
63.64% |
| Xinergy Ltd. (T.XRG, Stock Forum) |
25.71% |
| Verisante Technology, Inc. (V.VRS, Stock Forum) |
24.32% |
| Belo Sun Mining Corp. (V.BSX, Stock Forum) |
22.39% |
| Colossus Minerals Inc. (T.CSI, Stock Forum) |
18.42% |
| Select Canadian Small/Micro-cap Decliners (as of 4:00 PM Eastern) |
| Copernican International Financial Split Corp. (T.CIR, Stock Forum) |
-69.23% |
| Acasti Pharma Inc. (V.APO, Stock Forum) |
-14.77% |
| Titan Medical Inc. (V.TMD, Stock Forum) |
-11.02% |
| Renegade Petroleum Ltd. (V.RPL, Stock Forum) |
-9.00% |
| UrtheCast Corp. (T.UR, Stock Forum) |
-7.85% |