TORONTO (SHfn) – B2Gold Corp. (TSX: T.BTO, Stock Forum) jumped 15% to $1.74 on Tuesday after releasing a news update on its La Libertad gold mine in Nicaragua, where production resumed in January. B2Gold said the mine is expected to produce up to 90,000 ounces of gold this year at a cash cost of US$500 an ounce. Based on recent drilling results, the company said it is confident that it can extend the life of it’s a second Nicaraguan mine, known as Limon. The current projected lifespan is 3.5 years.
As well, PharmaGap Inc. (TSX: V.GAP, Stock Forum) rose 15% to $1.74 after the company said it has received results of testing of its lead cancer treatment drug GAP-107B8. The Ottawa biotechnology firm is the final stages of analyzing the data it received from the National Cancer Centre in Bethesda, MD., and expects the results to be announced in the next few days.
Technicoil Corp. (TSX: T.TEC, Stock Forum) was up 36% to 76 cents after posting record first quarter earnings of $3.6 million or 5 cents per share, an increase from $662,000 or 1 cents in the same period last year. The oil and gas services company said revenue in the quarter was up 44% to $24.5 million from $17 million a year earlier. Technicoil said its improved results were partly attributable to improved activity in the drill rig utilization and well licensing sectors.
Meanwhile, Erin Ventures Inc. (TSX: V.EV, Stock Forum) gained 23% to 10.5 cents on news that it has entered into a joint venture with Serbian state-owned mining company, JP PEU to develop the Piskanja boron deposit in Serbia. Boron is an industrial mineral that is used in the manufacturing of a range of key products, including fertilizer, fibre-glass and detergents. Based in Victoria, Erin said it expects to own 90% of the joint venture, with JP PEU holding the other 10%.
Also, Volta Resources Inc. (TSX: T.VTR, Stock Forum) rose 22% to $1.71 after tabling drill results from its Kiaka gold project, which is located about 120 kilometres south of Ouagadougou, the capital city of Burkina Faso. The junior said it has received 86 of the 97 holes completed so far. Highlights include a 134-metre section, averaging 2.16 g/t.
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