Lake Shore Gold (TSX:LSG, Stock Forum) rose 6.2% to 85 cents Wednesday after the Toronto-based gold mining company, released preliminary cash cost results and all-in sustaining costs (“AISC”) from Q1 2014. Lake Shore is engaged in the operation and development of three gold complexes in the Timmins, Ont., Gold camp.
According to the news release, preliminary cash operating costs per ounce during Q1 2014 was approximately US$630 which included US$33 royalties per ounce. This bettered the company's guidance for full-year 2014 guidance of US$675 – US$775.
Nevada Sunrise Gold (TSX:V.NEV, Stock Forum) rose 12.5% to 99 cents. The Vancouver-based precious and base metals mining firm operating in Nevada, announced hat Pilot Gold (TSX:PLG, Stock Forum), the company's JV partner and operator for Kinsley Mountain, reported results from the infill and step-out drilling at Kinsley Mountain's Western Flank target.
According to the news release, Pilot continued to intersect high-grade gold mineralization with such assay results as 21.3 g/t Au over 29.0 metres at PK137C.
Golden Valley Mines Ltd. (TSX: V.GZZ, Stock Forum) jumped 60% to 16 cents. Golden Valley holds a 66% interest in Abitibi Royalties Inc. (TSX: V.RZZ, Stock Forum) which said its joint venture partner Osisko Mining Corp. (TSX: T.OSK, Stock Forum). released the first drill intersection from the Odyssey North target on the Malarctic CHL property near Val d’Or, Que.
Abitibi holds a 30% free carried interest in the property. The intersection returned 2.85 grams gold over 110 metres, the companies said in a press release.
Abitibi saw its stock price rise 50% to $150.
| Select Canadian Small/Micro-cap Advancers (as of 4:00 PM Eastern) |
| Golden Valley Mines Ltd. (V.GZZ, Stock Forum) |
60.00% |
| Commerce Resources Corp. (V.CCE, Stock Forum) |
16.67% |
| Niocorp Developments Ltd. (V.NB, Stock Forum) |
14.12% |
| Americas Petrogas Inc. (V.BOE, Stock Forum) |
13.85% |
| Nevada Sunrise Gold Corporation. (V.NEV, Stock Forum) |
12.50% |
| Select Canadian Small/Micro-cap Decliners (as of 4:00 PM Eastern) |
| POET Technologies Inc. (V.PTK, Stock Forum) |
-10.66% |
| Titanium Corporation Inc. (V.TIC, Stock Forum) |
-10.33% |
| Transglobe Energy Corporation (TGA, Stock Forum) |
-5.50% |
| Clearwater Seafoods Incorporated (T.CLR, Stock Forum) |
-5.21% |
| TransGlobe Energy Corporation (T.TGL, Stock Forum) |
-5.20% |