Stockhouse Canadian Small and Micro-cap Stock Report for Monday, July 8, 2013
VANCOUVER (SHfn) –-
) climbed 20% to six cents in mid-morning trading, but was unchanged at five cents after the bell as investors assessed the news that the exploration and development company had amended and restated a metal purchase agreement with Sandstorm Gold Ltd. (TSX: T.SSL
) and an affiliate of Sandstorm to waive the requirement for Donner to sell copper to Sandstorm during the 2013 calendar year. This amendment has been made in order to allow Donner to meet its working capital obligations that arise under the development and operating agreement between Glencore Xstrata plc, a diversified natural resources company, and Donner.
Canadian Zinc Corp.
) was up 9.7% to 51 cents after the natural resources company announced that the Mackenzie Valley Land and Water Board had completed its regulatory process for the issue to Canadian Zinc of a Type "A" Water license for the company's Prairie Creek mine in the Northwest Territories, Canada and has forwarded the license to the Federal Minister of Aboriginal Affairs and Northern Development Canada with the recommendation that the Minister approve and sign the license. "This Type 'A' Water license is the key regulatory permit needed for the construction, development and operation of the Prairie Creek mine," said Alan B. Taylor, COO and VP of Exploration.
Southern Pacific Resources
) lost 2.9% to 34 cents after the oil and gas explorer provided an operational update with respect to the company's STP-McKay and STP-Senlac Thermal projects, located in Ft. McMurray and west-central Saskatchewan respectively. Total company production averaged 4,347 barrels per day for the month ended June 2013, a 5% increase from the previous month.
Northern Graphite Corp.
) lost 11% to 80 cents after the exploration company provided a corporate update. On Oct. 31, 2012, the company submitted the Mine Closure Plan for the Bissett Creek project, located in Ontario, to the Ministry of Northern Development and Mines. This "45 day approval process" has been ongoing for over seven months despite Bissett Creek being a relatively benign operation with no major environmental issues. The company understands that the Ministry’s review of the Mine Closure Plan is complete but it cannot be filed (approved) until the Ministry issues a mining lease for the project. Application for the mining lease was made in Oct. 2011. In July 2012 the company was ordered to redo the government survey of provincial lot and concession lines that form the property boundary. The survey was submitted to the Surveyor General's office in Nov. 2012 for a 30-day approval process but a mining lease has still not been issued. The company believes approval is imminent but cannot provide further guidance.