Calendonia Mining (T.CAL) up on Q3 results

Elizabeth Walters Elizabeth Walters, Stockhouse
1 Comment| November 13, 2013

Stockhouse Canadian Small and Micro-cap Stock Report for Wednesday, November 13, 2013 VANCOUVER (SHfn) –  
Calendonia Mining Corp. (TSX: T.CAL, Stock Forum) rose 4.0% to 79 cents after the exploration and development company announced its third quarter results ended Sept. 30, 2103. Caledonia produced 12,042 ounces of gold in the quarter, compared to 12,918 ounces in the third quarter f 2012. Net profit after tax for the quarter attributable to Caledonia shareholders was $3.7 million compared to a loss of $7.2 million in the third quarter of 2012, after a non-cash, non-recurring expense of $12.1 million arising on the implementation of indigenisation at the Blanket mine in Zimbabwe. Basic earnings per share to Caledonia shareholders were 7.2 cents.

Stornoway Diamond Corp. (TSX: T.SWY, Stock Forum) slipped 5.4% to 88 cents as investors assessed the news that the diamond miner had entered into an amended agreement with Dundee Securities Ltd. as lead underwriter, together with a syndicate, for a private placement financing on a bought deal basis of 9.2 million flow-through common shares at a price of $0.95 per flow-through share for gross proceeds of 8.74 million. Furthermore, Stornoway has granted the underwriters the option to purchase up to an additional 1.38 million flow-through shares to cover over-allotments. The underwriters may exercise the over-allotment option at the issue price up to 48 hours prior to closing. In the event that the over-allotment option is exercised in its entirety, the gross proceeds of the offering will be $10.1 million. Closing of the offering is anticipated to occur on or before Dec. 3, 2013.

Select Canadian Small/Micro-cap Advancers (as of 4:00 PM Eastern)
Barisan Gold Corporation (V.BG, Stock Forum) 27.78%
Crocodile Gold Corp. (T.CRK, Stock Forum) 22.73%
Lake Shore Gold Corp. (T.LSG, Stock Forum) 14.63%
Mood Media Corporation (T.MM, Stock Forum) 10.87%
Badger Daylighting Ltd. (T.BAD, Stock Forum) 10.35%
Select Canadian Small/Micro-cap Decliners (as of 4:00 PM Eastern)
iSign Media Solutions Inc. (V.ISD, Stock Forum) -21.28%
Kombat Copper Inc. (V.KBT, Stock Forum) -15.00%
MBAC Fertilizer Corp. (T.MBC, Stock Forum) -10.58%
Rocky Mountain Dealerships Inc (T.RME, Stock Forum) -6.06%
Copper Mountain Mining Corporation (T.CUM, Stock Forum) -5.45%

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Why didn't you list V.SOP in your advancers report yesterday? It closed up 100% at 4 cents, up more than all the rest.
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November 14, 2013
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