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Energy junior up 24% on tariff agreement

Elizabeth Walters Elizabeth Walters, Stockhouse
0 Comments| May 17, 2013

Stockhouse Canadian Small and Micro-cap Stock Report for Friday, May 17, 2013 VANCOUVER (SHfn) –  

Prophecy Coal Corp. (TSX: T.PCY, Stock Forum) soared 23.8% to 13 cents on Friday after the energy development company said that the company had received official correspondence from the Head of the Chandgana project working group designated by the Mongolian Ministry of Energy, outlining the terms of a tariff agreement reached by the working group and Prophecy Power Generation LLC, a wholly owned subsidiary of Prophecy, for the Chandgana coal mine mouth power plant project located in the Nyalga basin in Mongolia. The major terms of the tariff agreement include an initial tariff for the first year of the power project plant operation and a weighted average tariff for the remaining 24 years of power plant operation.

Arian Silver Corp. (TSX: V.AGQ, Stock Forum) fell 6% to 7.5 cents after the silver exploration, development and production company revealed it needed to revise and file an updated technical report, which was published for the primary purpose of updating investors with the results of the 10,000 metre phase four drilling program at Arian's San José property, located in the prolific silver belt of Mexico. The British Columbia Securities Commission's review of the 2012 report identified areas of non-compliance with the Canadian standards of disclosure for mineral projects. The updated technical report will address these points and will be filed on SEDAR shortly.

Select Canadian Small/Micro-cap Advancers (as of 4:00 PM Eastern)
Colorado Resources Ltd. (V.CXO, Stock Forum) 45.10%
Southern Pacific Resource Corp. (T.STP, Stock Forum) 23.46%
Orbite Aluminae Inc. (T.ORT, Stock Forum) 17.74%
Madalena Ventures Inc. (V.MVN, Stock Forum) 12.99%
Legumex Walker Inc. (T.LWP, Stock Forum) 12.67%
Select Canadian Small/Micro-cap Decliners (as of 4:00 PM Eastern)
Med BioGene Inc. (V.MBI, Stock Forum) -15.00%
Semafo Inc. (T.SMF, Stock Forum) -12.43%
IBI Group Inc. (T.IBG, Stock Forum) -12.41%
Lydian International Limited (T.LYD, Stock Forum) -10.32%
Centerra Gold Inc. (T.CG, Stock Forum) -9.95%

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