Stockhouse Canadian Small and Micro-cap Stock Report for Wednesday, April 25, 2012
TORONTO (SHfn) – Belo Sun Mining (TSX: T.BSX, Stock Forum) shares climbed as much as 15% to $1.01 on volume of more than 1.7 million shares Wednesday after the gold junior provided an updated, independently audited mineral resource statement for its 100%-owned Volta Grande gold project in Brazil. Measured and Indicated Open Pit Mineral Resources now stand at 2.85 million gold ounces at an average grade of 1.69 g/t gold, which represents an increase of 28% from the previous estimate.
As well, shares of Uravan Minerals (TSX: V.UVN, Stock Forum) shot up 45% to 14.5 cents as the junior explorer said it has signed a "Term Sheet Memorandum" agreement whereby the company has granted Cameco the exclusive option to earn an aggregate 70% interest in Uravan's 100% owned Halliday and Stewardson uranium projects in Saskatchewan’s Athabasca Basin by funding a cumulative $22 million in exploration expenditures.
Rockgate Capital (TSX: T.RGT, Stock Forum), meanwhile, announced that drilling operations have resumed at its Falea Uranium, Silver, Copper Project in Mali, West Africa. A military coup earlier in the year has disrupted mining activities for many companies operating in Mali. Rockgate Capital stock popped 28% to 68 cents.
And, Pacific Coal Resources (TSX: V.PAK, Stock Forum) Wednesday reported 2011 revenue of $167.7 million, more than double the previous year, as a result of increased production and sustained strong coal prices during 2011. Pacific Coal shares moved up as much as 23% to 32 cents.
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