Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.

Junior miner surges on gold project PEA

Sean Mason Sean Mason, Freelance
0 Comments| December 22, 2011

{{labelSign}}  Favorites
{{errorMessage}}

Stockhouse Canadian Small and Micro-cap Stock Report for Thursday, December 22, 2011

TORONTO (SHfn) – Prodigy Gold (TSX: V.PDG , Stock Forum) shares powered as much as 20% higher to $1.03 on Thursday after the gold junior announced the results from an updated NI 43-101 compliant Preliminary Economic Assessment (PEA) of its 100% owned Magino gold project in northern Ontario. The pre-tax Net Present Value (NPV) at a 5% discount rate is $939 million. Life of Mine gold production is projected to be more than 2,614,000 ounces gold, averaging 249,300 ounces a year over an 11-year mine life, while average cash operating costs are estimated to be US$461 per ounce.

As well, shares of Northern Iron (TSX: V.NFE , Stock Forum) gained 36% to 15 cents as the micro cap explorer said it has signed an agreement with Mr. Larry Herbert, a private individual, whereby the company will acquire a 100% interest in five mineral claims totaling 848 hectares to the east and south of the past producing Griffith mine near Red Lake, Ontario. The Griffith Mine owned at the time by Stelco, produced 78.8 million tonnes of iron ore for conversion to pellets and DRI from 1968-1989. Total magnetic iron recovery was 86.26%.

Dundee Capital Markets (TSX: T.DCM , Stock Forum), meanwhile, reported that Dundee Corporation (TSX: T.DC.A, Stock Forum) will acquire all of the outstanding common shares of Dundee Capital Markets not currently held by Dundee Corporation at a price of $1.125 per share. Dundee Capital Markets stock popped 35% to $1.11.

And, ProSep Inc. (TSX: T.PRP, Stock Forum) Thursday said it has recently secured various contracts with existing customers amounting to $2 million, for the design and supply of new equipment including a produced water treatment system valued at $0.7 million and additional parts and change orders related to two different gas treatment projects. ProSep shares added as much as 25% at 10 cents.

Top Canadian Small/Micro-cap Advancers (as of 4 PM Eastern)
Top Canadian Small/Micro-cap Decliners

To read more articles by Sean Mason please click here



{{labelSign}}  Favorites
{{errorMessage}}