Stockhouse Canadian Small and Micro-cap Stock Report for friday, December 13, 2013 VANCOUVER (SHfn) –
Carpathian Gold Inc. (
TSX: T.CPN,
Stock Forum) rose 25% to 7.5 cents after the exploration and development company announced that its subsidiary, Mineração Riacho dos Machados Ltda., which owns and operates the RDM gold project, Brazil, has received from the state environmental agency the Autorização Provisória de Operação (APO), a provisional permit, allowing it to proceed with the full operation of its gold producing facilities. The APO provides the same legal rights as the Licença de Operação (LO) and allows the project to proceed in the interim while arrangements are being performed by the government agencies and related entities for the issuance of the LO. "While the unfortunate delay in the start-up of the operation may have affected the outlook for the company and led to a cash shortfall situation, it is nonetheless a pleasure to report that with the receipt of the APO the RDM gold project can now commence gold production and be Brazil's next gold producer", said Dino Titaro, Chairman and CEO. "With the wet commissioning of the mill and process plant, the project is now ready to receive and process ore from the mine, with the expectation of its first gold pour within two weeks.”
Primeline Energy Holdings Inc. (
TSX: V.PEH,
Stock Forum) slipped 5.3% to 54 cents. The stock is reacting to news that oil and gas junior’s subsidiary, Primeline Energy Operations International Ltd. (PEOIL) has entered into a turnkey contract for a 600 square kilometres 3D seismic survey as part of its rolling development and exploration program. A brokered
private placement is proposed to fund the company's share of the cost of the survey. PEOIL has entered into an agreement dated Dec. 13, 2013 with China Oilfield Services Ltd. (COSL), an oilfield services provider, under which COSL agreed to carry out the acquisition and processing of data for the survey on a turnkey basis for Primeline. Under the Turnkey contract, COSL will complete the acquisition of 3D seismic data over 600 square kilometres in Block 33/07 using 3D seismic survey vessel, Hai Yang Shiyan 718. The survey is expected to be completed by mid-April 2014. Following completion of the survey, COSL will also be responsible for processing the data acquired. COSL will supply all necessary equipment, services and personnel for the survey.