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Exploration junior up 30% on management news

Elizabeth Walters Elizabeth Walters, Stockhouse
0 Comments| May 15, 2013

 Stockhouse Canadian Small and Micro-cap Stock Report for Wednesday, May 15, 2013 VANCOUVER (SHfn) –

Azincourt Resources Inc. (TSX: V.AAZ, Stock Forum) soared 30% to 30 cents on Wednesday after the mineral exploration company said further to the company's news release on April 30, 2013 announcing the entering into of an option agreement dated April 29, 2013 whereby Azincourt can earn up to a 50% interest in Fission Uranium Corp.'s (TSX: V.FCU, Stock Forum) Patterson Lake North project, located in the Athabasca Basin in Saskatchewan, the company announced the appointments of Ian Stalker as President and Chairman, Ted O'Connor as CEO and a director and Dev Randhawa as a director, subject to TSX Venture Exchange acceptance.

Centamin plc (TSX: T.CEE, Stock Forum)was up 7% to 59 cents after the gold miner announced record quarterly earnings, with basic earnings per share 6.60 cents; up 66% on the prior year period and record gold production 87,016 ounces, up 2% quarter-on-quarter and 77% on the prior year period.

Canada Lithium Corp. (TSX: T.CLQ, Stock Forum) rose 1.8% to 57 cents after the lithium mining company said it had completed its previously announced private placement, including the exercise in full of the underwriters' option, of convertible unsecured subordinated debentures due 2018, which were issued at par at a price of $1,000 per debenture for gross proceeds to the company of $27.6 million.

Pangolin Diamonds Corp. (TSX: V.PAN, Stock Forum) lost 5.5% to 26 cents after the diamond exploration and development company announced it had discovered its first kimberlite at its 100% owned Tsabong North project in Botswana. Crater facies sediments are present from a depth of 33.5 meters to 58.8 meters below which reworked volcaniclastic kimberlite breccia occurs to 76.3 meters.

Eagle Hill Exploration Inc. (TSX: V.EAG, Stock Forum) lost 10.5% to 8.5 cents after the precious metals exploration company provided an update on its 12,000-hectare property in the Abitibi gold belt of Quebec. According to the press release, Eagle Hill recently negotiated a three-year extension of its 75% option on the Windfall Lake property, bringing it one step closer to its goal of developing Quebec’s newest gold mine.

Select Canadian Small/Micro-cap Advancers (as of 4:00 PM Eastern)
Med BioGene Inc. (V.MBI, Stock Forum) 41.67%
Legumex Walker Inc. (T.LWP, Stock Forum) 30.14%
Patheon Inc. (T.PTI, Stock Forum) 15.23%
Horizons BetaPro COMEX Silver Bear Plus ETF (T.HZD, Stock Forum) 7.69%
Wi-LAN Inc. (T.WIN, Stock Forum) 6.65%
Select Canadian Small/Micro-cap Decliners (as of 4:00 PM Eastern)
Automodular Corporation (T.AM, Stock Forum) -46.74%
Veris Gold Corp. (T.VG, Stock Forum) -23.42%
Bri-Chem Corp. (T.BRY, Stock Forum) -20.26%
Valeura Energy Inc. (T.VLE, Stock Forum) -20.22%
Continental Gold Limited (T.CNL, Stock Forum) -15.42%

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