While silver/gold assays and energy reserves also attracted attention Tuesday
Stockhouse Canadian Small and Micro-cap Stock Report for Tuesday, March 16, 2010
TORONTO (SHfn) – Cline Mining (TSX: T.CMK, Stock Forum) shares jumped 17% to $1.11 on Tuesday after the micro cap miner announced that Agapito Associates has delivered a Preliminary Assessment providing an economic analysis of potential investment return and economics of the proposed development and production of metallurgical coking coal from its New Elk Coal Mine in Colorado. The Agapito Preliminary Assessment estimates the capital cost required to bring the New Elk coal mine into full production at 3.0 million tons of saleable coal a year at US$65 million. It also estimates an internal rate of return on the total US$65 million capital investment to be 98.65% (p.a.). The net present value of the investment is calculated to be US$1.041 billion (at a 10% p.a. discount rate). Payback of the invested capital is projected to occur within 1.58 years.
As well, shares of Coalcorp Mining (TSX: T.CCJ, Stock Forum) moved up 24% to 18 cents as the junior explorer/developer said it has entered into a mediation order with AES Gener S.A., which provides that the proceeding initiated by AES seeking a temporary restraining order and preliminary injunction requiring Coalcorp's subsidiary, Compania Carbones del Cesar (CDC), to retain a minimum of US$30.7 million from the proceeds of the previously announced proposed sale by CDC of the La Francia mine and related infrastructure assets to a subsidiary of The Goldman Sachs Group, Inc. is discontinued with prejudice.
Cream Minerals (TSX: V.CMA, Stock Forum), meanwhile, reported that it has received additional assay results from Roca Mines concerning two additional drill holes of a five hole program on the Nuevo Milenio epithermal silver-gold project in Mexico, which included 3.11 metres grading 1,886 grams per tonne (g/t) silver and 6.18 g/t gold. In July 2009, Cream signed a binding letter of intent with Roca to option Nuevo Milenio. Under the terms, if Roca spends US$12 million in exploration expenditures over a four-year term ending on July 24, 2013, it will earn a 50% interest in Nuevo Milenio. Cream stock popped 24% to 10.5 cents.
Shares of Dejour Enterprises (TSX: T.DEJ, Stock Forum) added as much as 12% at 37.5 cents after the oil and natural gas explorer/producer announced results of its year-end reserve assessment for its wholly-owned subsidiary Dejour Energy (USA) Corp., operating in eastern Utah and western Colorado, which showed that proved and probable reserves increased by 215 billion cubic feet gas equivalent in 2009. Key Piceance Basin Project's proved undeveloped and probable reserves were valued at before tax net PV-10 of US$297 million (net of capital, operating costs and local taxes).
And, Tekmira Pharmaceuticals (TSX: T.TKM, Stock Forum) Tuesday reported the initiation of a new research collaboration with Pfizer. Tekmira and Pfizer will collaborate on evaluating Tekmira's stable nucleic acid-lipid particle (SNALP) technology to deliver small interfering RNA (siRNA) molecules provided by Pfizer. Tekmira shares climbed 23% to 86 cents.
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