Stock movers for the week of June 24, 2013:
On Monday,
Lake Shore Gold (
TSX: T.LSG) soared 56% to 25 cents after the gold mining company said that it expects to report strong operating results when the company issues its second quarter 2013 production release in early July. Production for the second quarter is expected to total over 29,000 ounces at an average grade exceeding 4.0 grams per tonne. Quarter to date, mill throughput has averaged approximately 2,500 tonnes per day, gold produced is approximately 27,000 ounces and gold poured is over 25,000 ounces. Cash operating costs per ounce, to be released with the company's full financial and operating results in early August, are expected to show significant improvement from the first quarter of 2013. The company's mill expansion is nearing completion, with commissioning to commence in late July and the expanded processing capacity of 3,000 tonnes per day to be achieved by early September 2013.?
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Guerrero Exploration (
TSX: V.GEX) rose 36% to 9.5 cents after exploration company announced that the complete drill permit application, including the long form of the environmental report (Manifiesto de Impacto Ambiental), was submitted to the Ministry of the Environment (SEMARNAT) for its Cerro Azul property in Guerrero, Mexico. The governmental authority confirmed receipt of the application and has indicated that all documents are in order and have initially been accepted, including the required newspaper publications of the company's and its joint venture partner's intentions to drill in the project area. Guerrero's environmental consultant on site has also indicated that a previously scheduled visit to the project area will no longer be required. Based on the response from the Mexican Ministry officials, Guerrero Exploration expects the finalized permit will be granted on or about June 30, 2013.
In Tuesday trading,
Huldra Silver Inc. (
TSX: V.HDA) plummeted 42% to 14 cents after it announced it had closed the first tranche of its non-brokered private placement. The company closed aggregate subscriptions of $1.4 million, consisting of 3.8 million units at a price of $0.25 per unit and 1.6 million flow-through units at a price of $0.30 per flow-through unit. Huldra also reached an agreement in principle with Waterton Global Value Fund, L.P. to eliminate all monthly payment obligations and delay the payment of all obligations under the credit facility until Oct.31, 2013. At that time, the company will be required to pay a lump sum of $7.2 million.??
Colorado Resources Ltd. (
TSX: V.CXO) was down 1.5% to 65 cents after the exploration and development company announced that it had engaged
Sterling Marketing Corp., a Vancouver- based company that provides marketing and investor relations services, to assist in the creation and implementation of a comprehensive marketing and investor communications program for the company.
On Wednesday, Appalaches Resources Inc. (
TSX: V.APP) climbed 10.5% to 10.5 cents as investors assessed the news of the appointment of Jose Oro as a Director of the company effective 25 June 2013. Oro brings more than 35 years of global mining practical experience as well as advance technical expertise to the Ressources Appalaches team. The company also announced that it had expanded its management team at the mine to include Steve Hebert, as Chief of Administration and Darrin Campbell, as Controller. The additions to the management team are a significant step as the company progresses towards resuming gold production in the coming months at Dufferin mine.? ?
Allana Potash Corp. (
TSX: T.AAA) rose 8.9% to 49 cents after the potash-focused company announced an updated mineral resource estimate for its Danakhil project in Ethiopia. The measured and indicated mineral resource estimate totals 2,481.3 Million tonnes with an average grade of 17.9 % potassium chloride, representing approximately 444 Million tonnes of potassium chloride. This is more than a 90% increase over the April 2012 measured and indicated mineral resource estimate of 1,297 Million tonnes at an average grade 19.3% potassium chloride.
On Thursday, Fission Uranium Corp. (
TSX: V.FCU) lost 1.5% to 66 cents as investors assessed the news that the junior explorer had chosen to trade on OTCQX® under the symbol “FCUUF”. Fission began trading today on OTCQX International, a segment of the OTCQX marketplace reserved for high-quality non-U.S. companies that are listed on a qualified international exchange and provide their home country disclosure to U.S. investors.??
Polymet Mining (
TSX:T.POM ) was down 7% to 75 cents after the mine development company reminded shareholders that its previously announced Rights Offering will remain open until 5:00 p.m. ET on Wednesday July 3, 2013. Rights holders will need to exercise their subscription rights prior to that time and date. Rights holders can subscribe for one new common share of PolyMet for US$0.66 per share for every two Rights held.?
And, in Friday trading,
Eagle Hill Exploration (
TSX: V.EAG) soared 21% to 8.5 cents after the mineral exploration and development company said that it had entered into a binding letter agreement to acquire the remaining 25% ownership along with all other interests in the mineral claims of the Windfall Lake property, a Quebec exploration project, from
Noront Resources Ltd. (
TSX: V.NOT). ??Eagle Hill will acquire all of Noront's remaining interest in the Windfall Lake property for consideration of $5 million in cash and 25 million common shares of Eagle Hill. Furthermore, the company has entered into financing agreements with
Southern Arc Minerals Inc. (
TSX: V.SA) and
Dundee Corp. (
TSX: T.DC.A) to provide a total of $12 million through two private placements of units.??Southern Arc will make an investment of $7.3 million and Dundee will increase its existing 18.8% ownership with an additional investment of $4.7 million by way of private placements of units at a price of $0.075 per unit. Upon completion of the transactions, Southern Arc and Dundee will each hold 26.2% of Eagle Hill. Windfall Lake presently hosts 538,000 ounces of gold at 10.1 grams per tonne gold in the indicated category and 822,000 ounces of gold at 8.8 grams per tonne gold in the inferred category.