Stockhouse Canadian Small and Micro-cap Stock Report for Monday, August 8, 2011
TORONTO (SHfn) – Pacific North West Capital Corp. (TSX: T.PFN , Stock Forum) rose 7% to 30 cents Monday after the company said it has granted Next Gen Metals Inc. (TSX: V.N, Stock Forum) an option to acquire the company’s 60% earn-in option interest in the Destiny gold project in the Abitibi-Temiscamingue region of Quebec. The option was granted to PFN by Alto Ventures Ltd. (TSX: V.ATV, Stock Forum). Subject to regulatory and shareholder approval, PFN will receive $675,000 in cash, 15 million Next Gen shares and four million warrants of Next Gen.
Calibre Mining Corp. (TSX: V.CXB, Stock Forum) gained 4.3% to 12 cents. The company said it has closed the first tranche of a previously disclosed non-brokered $3 million private placement. It is comprised of 13.4 million common shares priced at 10 cents per share. The shares come with a four- month hold period. The company says it expects to complete the private placement by issuing an additional 16.6 million common shares for gross proceeds of $1.66 million.
Volta Resources Inc. (TSX: T.VTR, Stock Forum) was up 3% to $1.70 after the company said it has filed an updated NI 43-101 compliant technical report entitled “Updated mineral resource estimate of Kiaka gold project, Burkina Faso, [West Africa].’’ Volta said it is on track to complete a feasibility study next year for the Kiaka project, which is thought to contain three million ounces of measured and indicated gold resources and an inferred resource of 1.26 million ounces. This resource is contained within a single open pit to a vertical depth of 425 metres, the company said.
Mineral Mountain Resources Ltd. (TSX: V.MMV, Stock Forum) was unchanged at 50 cents. The junior said it has been called to trade on OTCQX, the top tier of the U.S. OTC quotation system. Mineral Mountain is engaged in precious metals exploration in south eastern British Columbia, the Carlin Trend in Nevada, and Selwyn Basin in the Yukon.
| Top Canadian Small/Micro-cap Advancers (as of 4 PM Eastern) |
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