TORONTO (SHfn) – Energy Fuels (TSX: T.EFR, Stock Forum) shares surged 23% to 51 cents on Thursday after the pending uranium producer said it has been awarded a Department of Energy (DOE) lease tract (SR-12) that was originally released for bid by DOE in the May, 2008 lease sale. This 641-acre lease, in western San Miguel County, Colorado (within the Uravan Mineral Belt), was originally won by another bidder who subsequently dropped the lease. It is contiguous with other properties held by Colorado Plateau Partners Joint Venture in which the company is partnered with Australian company Royal Resources. Based on pre-bid public information provided by DOE in February 2008, this tract contains about 156,000 lbs. of historical U3O-8 resource (not currently NI 43-101 compliant).
As well, shares of Prophecy Resource (TSX: V.PCY, Stock Forum) gained 20% to 66 cents as the micro cap miner announced that an official government commission appointed by the Mongolian Ministry of Mineral Resources and Energy conducted the final permit inspection at its Ulaan Ovoo mine site on October 4, 2010. The permit inspection is the final step required for Prophecy to begin production operations at Ulaan Ovoo. During the October 4th visit, the commission, consisting of eight officials, drew satisfactory conclusions and Prophecy was instructed by the commission to begin coal production at the mine site and advised that receipt of the mine permit is imminent.
Uranium North Resources (TSX: V.UNR, Stock Forum), meanwhile, reported results from its first phase 2010 exploration program on the Mallery Stockwork located on the Mallery Lake Property in Nunavut. Of the 31 grab sample assays received to date from the Mallery Stockwork, 16 samples assayed between 0.854 grams per tonne (g/t) gold and 54.2 g/t gold, only three samples contain less than 0.100 g/t gold. The sample containing 54.2 g/t gold also contains 272 g/t silver. Uranium North stock popped 47% to 14 cents.
Shares of Medallion Resources (TSX: V.MDL, Stock Forum) shot up 30% to 49.5 cents after the junior explorer and Rare Element Resources (TSX: V.RES, Stock Forum) said they have significantly expanded their Eden Lake rare-earth-element (REE) property in western Manitoba by staking six additional mineral claims. Medallion is exploring the Eden Lake property under a joint venture option agreement with Rare Element that gives Medallion the right to earn a 65% interest.
And, Amazon Mining Holding Plc (TSX: V.AMZ, Stock Forum) Thursday announced the results of soil acidity tests showing that ThermoPotash has 49% of the pH corrective power of limestone. These results show that a farmer using ThermoPotash as a potassium source can reduce the amount of limestone required to correct the acidity of his soil by 490 kg for each tonne of ThermoPotash used. Amazon Mining shares powered 14% higher to $3.08.
| Top Canadian Small/Micro-cap Advancers (as of 4:00 PM Eastern) |
| Top Canadian Small/Micro-cap Decliners |
To read more articles by Sean Mason please click here