Stockhouse Canadian Small and Micro-cap Stock Report for Monday, June 18, 2012
TORONTO (SHfn) – Prophecy Platinum (TSX: V.NKL, Stock Forum) shares climbed 12% to $2.57 on Monday after the explorer reported results of an independent NI 43-101 compliant Preliminary Economic Assessment (PEA) for its 100% owned Wellgreen nickel-copper-PGM project in the Yukon, which estimates a pre-tax Internal Rate of Return (IRR) of 38% and an Net Present Value (NPV) of $3.0 billion, based on 8% discount rate and 100% equity.
As well, shares of Prophecy Coal (TSX: T.PCY, Stock Forum) added 13% at 30.5 cents on volume of more than 1.3 million shares as the micro cap miner announced that it has entered into a binding sale and purchase agreement to acquire assets relating to certain Tugalgatai coal exploration licenses in Mongolia from Tethys Mining LLC. Prophecy will pay a US$10 million upfront payment and an 8.5% royalty on future coal sales from both the Chandgana and Tugalgatai licenses. The royalty can be extinguished by paying Tethys US$20 million before 2021 or US$25 million from 2021 onwards.
Yamana Gold (TSX: T.YRI, Stock Forum), meanwhile, said it would buy Extorre Gold Mines (TSX: T.XG, Stock Forum) for $412.9 million, or $4.26 per share, in a cash-and-stock agreement. Extorre shareholders will receive $3.50 in cash and 0.0467 of a Yamana share for each share they own. Extorre Gold stock popped 68% to $4.27 on more than 53 million shares traded.
And, Primeline Energy Holdings (TSX: V.PEH, Stock Forum) Monday reported that it and China National Offshore Oil Corporation have entered into a new petroleum contract for Block 33/07, which covers the majority of the Lishui Basin in the East China Sea. Primeline Energy shares rose 18% to 47 cents.
| Top Canadian Small/Micro-cap Advancers (as of 4 PM Eastern) |
| Top Canadian Small/Micro-cap Decliners |
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