Junior miner up 20% on strategic alliance

Stockhouse Canadian Small and Micro-cap Stock Report for Thursday, April 11, 2013 TORONTO (SHfn) –

Erdene Resources Development Corp. (TSX: T.ERD, Stock Forum) jumped 20% to 15 cents on Thursday after the junior resource company said it had entered into a strategic alliance with Teck Resources Ltd (TSX: T.TCK.B, Stock Forum). The alliance was formed by the signing of option and private placement agreements to fund and explore the company's mineral tenements in the Trans Altay region of southwest Mongolia. Initially, the program will focus on the company's Khuvyn Khar copper porphyry prospect as well as exploration of select targets across the Trans Altay region.

EPM Mining Ventures Inc. (TSX: V.EPK, Stock Forum) climbed 5% to 31.5 cents after the junior miner announced an update on its ongoing preliminary feasibility study for the production of sulfate of potash from its Sevier Playa project in southwestern Utah. The estimated completion date of the PFS remains mid-2013 which will provide the foundation for the company's definitive feasibility study, anticipated to be completed by late-2013. The PFS will build upon the preliminary economic assessment filed in November 2012 that indicated sulfate of potash production of 300,000 metric tonnes with a 30-year mine life, an estimated net present value of $629.7 million (after-tax, inflated, 8% discount rate), and an estimated internal rate of return of 24% (after tax, inflated).

Southern Pacific Resource Corp.(TSX: T.STP, Stock Forum) lost 17% to 63 cents. The oil and gas company provided an operational update with respect to the company's STP-McKay and STP-Senlac Thermal projects. March production averaged approximately 1,000 barrels of bitumen per day. Month-over-month production volumes were lower as a result of downtime from previously planned maintenance and from deliberate production restrictions on several steam-assisted gravity drainage well pairs. Daily volumes ranged from lows of 650 barrels of bitumen per day while maintenance operations were conducted to highs of 1,300 barrels of bitumen per day as wells were placed back into production. As the company has previously stated, it is expected to take up to 18 months from first oil production, which commenced in mid-October 2012, for total rates to approach the 12,000 barrels of bitumen per day design capacity.

Cline Mining Corp.(TSX: T.CMK, Stock Forum) dropped 40% to 4.5 cents after the metallurgical coal miner said it had not received the $2.5 million deposit from Portpool Investments Ltd. by the 5:00 p.m. deadline on April 10, 2013 pursuant to the subscription agreement with Portpool dated April 1, 2013. Cline is currently proceeding with the alternative restructuring transaction that was previously negotiated with Marret Asset Management Inc., on behalf of certain funds advised by it, as first described in Cline's press release of Dec. 27, 2012. Pursuant to the Marret Plan, Cline expects to file a preliminary prospectus with respect to a rights offering as soon as possible.