Shares of Calibre Mining Corp. (TSX: V.CXB, Stock Forum) have performed well of late as the market anticipates pending news from the company’s Primavera asset in Nicaragua, notes Canaccord Wealth Management in its Morning Coffee newsletter.
Joint venture partner B2Gold Corp. (TSX: T.BTO, Stock Forum) is scheduled to release 2011 fourth quarter results on March 28 and many market participants expect an update from Primavera at that time.
The Primavera asset piqued investors' collective attention a few months ago, when the drill results indicated the potential presence of a gold porphyry deposit. Highlights from the drill results include drill hole PR-11-002, which returned 0.78 grams per tonne gold and 0.297% copper over 261.7 m from 1.5 m down hole depth, including 134 m of 1.01 grams per tonne gold and 0.36% copper, starting from the surface.
After rising 4% to 52 cents on Monday, Calibre has a market cap of $87.3 million, based on 167.8 million shares outstanding. B2Gold shares rose 1% to $4.10, giving the company a market cap of $1.57 billion, based on 383.2 million shares outstanding.