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Junior explorer slips on gold/copper assay results

10/31/2012 1:09:44 AM | Sean Mason

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This as an oil and gas play powered higher following the addition of two wells Tuesday

Stockhouse Canadian Small and Micro-cap Stock Report for Tuesday, October 30, 2012

TORONTO (SHfn) – GoldQuest Mining (TSX: V.GQC, Stock Forum) shares fell 10% to 72 cents on volume on more than 3.1 million shares Tuesday after the gold junior reported assay results from three additional holes from the ongoing drill program at the Romero gold/copper discovery within its 100% owned Las Tres Palmas trend in the Dominican Republic, which included 157 metres grading 1.07 grams per tonne (g/t) gold and 0.40% copper.

As well, shares of Edge Resources (TSX: V.EDE, Stock Forum) shot up 18% to 33 cents as the energy junior announced that two oil wells have been added at its Grand Forks property in Alberta. The wells have already been tied-into existing pipelines and are being production-tested utilizing the company's existing facilities.

Sandstorm Metals & Energy (TSX: V.SND, Stock Forum) shares rose 10% to 55 cents on more than 2.1 million shares traded after Bloomberg reported that company President and CEO Nolan Watson said the base metals and energy streaming firm has even more growth potential than his gold royalties company, Sandstorm Gold.

Robex Resources (TSX: V.RBX, Stock Forum), meanwhile, said it has concluded a financing agreement of $14.8 million, which will allow the construction of a gold-producing plant on the Nampala site in Mali. Robex stock climbed 7% to 16 cents.

And, Bellhaven Copper & Gold (TSX: V.BHV, Stock Forum) Tuesday announced that it has optioned two contiguous granted concessions, encompassing 3,333 hectares, to a subsidiary of HudBay Minerals. In return for up to a 70% interest in a joint venture company, HudBay is expected to spend $2 million on exploration in 42 months and make option payments over the same time period totaling $800,000. Bellhaven shares added 10% at 22 cents.

Top Canadian Small/Micro-cap Advancers (as of 4:00 PM Eastern)
Brand Marvel Worldwide Consumer Products (V.BMW, Stock Forum)	75.00%
Underground Energy Corporation (V.UGE, Stock Forum)	33.33%
Golden Dory Resources Corp. (V.GDR, Stock Forum)	33.33%
Pacific Coal Resources Ltd. (V.PAK, Stock Forum)	28.57%
Jayden Resources Inc. (T.JDN, Stock Forum)	25.00%
Top Canadian Small/Micro-cap Decliners (as of 4:00 PM Eastern)
Bell Copper Corporation (V.BCU, Stock Forum)	-50.00%
Menika Mining Ltd. (V.MML, Stock Forum)	-33.33%
Trueclaim Exploration Inc. (V.TRM, Stock Forum)	-25.00%
Bear Lake Gold Ltd. (V.BLG, Stock Forum)	-25.00%
Imaging Dynamics Company Ltd. (T.IDL, Stock Forum)	-25.00%

ABOUT THE AUTHOR

Sean Mason

Sean Mason is a Stockhouse market reporter and editor.

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