Stockhouse Canadian Small and Micro-cap Stock Report for Wednesday, December 11, 2013 VANCOUVER (SHfn) –
Forum Uranium Corp. (
TSX: V.FDC,
Stock Forum) climbed 10% to 34.5 cents as investors assessed the news that the energy company has successfully completed a ground gravity survey and generated approximately 11 drill targets on its Clearwater property. The Clearwater property is located on trend and immediately adjacent to the southwest of
Fission Uranium Corp.’s (
TSX: V.FCU,
Stock Forum) Patterson Lake South (PLS) discovery on the Saskatchewan side of the Athabasca Basin. Forum plans to follow-up with a ground EM survey early in January to prioritize drill locations for the conductive zones. This combination of geophysics and geochemistry will enable Forum's technical team to more accurately define and locate drill holes on the most favourable uranium targets.
Starcore International Mines Ltd. (
TSX: T.SAM,
Stock Forum) was up 6.3% to 17 cents. The stock is reacting to news of the resource company’s first quarter report ended Oct. 31, 2013. Income for the quarter was $2.3 million, or $0.02 per share compared to a loss of $346,000 or $(0.00) per share for the prior year. Ore grades at the San Martin mine in Queretaro, Mexico, improved significantly for the quarter to 2.89 grams per tonne gold and 27.0 grams per tonne silver, and recovery improved in the first quarter averaging 88.2% and 56%, respectively, well over the results from the prior year when the mine was experiencing recovery and grade issues.
Pangolin Diamonds Corp. (
TSX: V.PAN,
Stock Forum) rose 4.2% to 25 cents after the diamond exploration and development company announced that it has drilled a new hole, Magi-04, at the company's Magi kimberlite. Kimberlite was intersected from 35 metres depth to 94 metres. Karoo sandstones were intersected from 94 metres to 127 metres at which depth the hole was terminated. The Magi, one of the largest kimberlites in the world, modeled at 270 hectares, is located in Pangolin's Tsabong North project in Botswana. Further work will continue. Six additional holes have been laid out for core drilling to confirm the modeled size of the Magi kimberlite. These core holes will also be used towards modeling the complex geology of the crater sediments and kimberlitic sandy tuffs in preparation for future possible larger diameter drilling.
Southern Pacific Resources Corp. (
TSX: T.STP,
Stock Forum) lost 50% to 12 cents after the oil and gas company announced that its Board of Directors has initiated a process to identify, examine and consider strategic and financial alternatives available to the company with the ultimate view of enhancing shareholder value. Strategic and financial alternatives may include, but are not limited to, the sale of the company, merger or other business combination, recapitalization, sale of all or a portion of the company's assets, or any combination thereof, and continued execution of its business plan, among all other alternatives. In other news, for the month of November, total company production averaged 4,010 barrels per day.
| Select Canadian Small/Micro-cap Advancers (as of 4:00 PM Eastern) |
| Border Petroleum Corp. (V.BOR, Stock Forum) |
100.00% |
| Galaxy Graphite Corp. (V.GXY, Stock Forum) |
66.67% |
| Sandstorm Metals & Energy Ltd. (V.SND, Stock Forum) |
28.57% |
| Gabriel Resources Ltd. (T.GBU, Stock Forum) |
13.86% |
| Zenyatta Ventures Ltd. (V.ZEN, Stock Forum) |
8.33% |
| Select Canadian Small/Micro-cap Decliners (as of 4:00 PM Eastern) |
| Southern Pacific Resource Corp. (T.STP, Stock Forum) |
-50.00% |
| Alvopetro Energy Ltd. (V.ALV, Stock Forum) |
-17.27% |
| NovaCopper Inc (NCQ, Stock Forum) |
-10.43% |
| Stellar Biotechnologies, Inc. (V.KLH, Stock Forum) |
-7.96% |
| Horizons BetaPro S&P\/TSX Global Gold Bull Plus ETF (T.HGU, Stock Forum) |
-6.88% |