Junior miner powers 22% higher on gold resource increase

TORONTO (SHfn) – Jaguar Mining (TSX: T.JAG, Stock Forum) shares climbed 22% to 83 cents on Monday after the gold miner said it has increased the estimated Measured and Indicated mineral resource at its Gurupi Project in Brazil by 30% to 3.2 million ounces of gold. The resource was calculated using a cutoff grade of 0.33 grams per tonne (g/t) gold.

As well, shares of Western Wind Energy (TSX: V.WND, Stock Forum) shot up 50% to $1.78 on volume of more than 1.6 million shares as the renewable energy production company announced that its Board of Directors has decided that the entire company and all of its assets will be made available for sale, saying “the consistent suffering our shareholders have endured by unregulated market participants trading the stock price down to levels that only serve to frustrate and ‘shake out’ retail investors.”

GoldQuest Mining (TSX: V.GQC, Stock Forum) shares surged 36% to $1.37 on volume of more than 4.8 million shares as the junior explorer reported assay results from the third vertical hole into the Romero discovery within its 100% owned Las Tres Palmas trend in the Dominican Republic, which included 258 metres grading 4.5 g/t gold and 1.3% copper.

Dynetek Industries (TSX: T.DNK, Stock Forum), meanwhile, reported that it is continuing to evaluate the strategic alternatives available to it, including conducting negotiations with a third party regarding a potential sale of the company. Dynetek stock popped 15% to 15 cents.

And, Stans Energy (TSX: V.HRE, Stock Forum) Monday said it has initiated legal action in Kyrgyzstan against the decision of the committee in the Jogorku Kenesh, which has demanded that the company’s Licence Agreement #3 be annulled. The company claims this is a contradiction to the earlier lawful approval by the State Geological Agency. Stans shares fell 21% to 48.5 cents on more than 1.4 million shares traded.

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