Focus Graphite (V.FMS) up 6.0% on increased mineral resources

Stockhouse Editorial
0 Comments| January 28, 2014

Stockhouse Canadian Small and Micro-cap Stock Report for Tuesday, January 28, 2014 VANCOUVER (SHfn) –  
Focus Graphite Inc. (TSX: V.FMS, Stock Forum) was up 6.0% to 53 cents. The stock is reacting to news of the junior miner’s NI 43-101 mineral resource estimate for its Lac Knife graphite project, in northeastern Québec. Measured and indicated resources are now estimated at 9.6 million tonnes grading 14.77% graphitic carbon at a 3.0% graphitic carbon cut-off grade. Additionally there are 3.1 million tonnes of inferred resources at 13.25% graphitic carbon using a 3.0% cut-off

Iona Energy Inc. (TSX: V.INA, Stock Forum) rose 3.4% to 61 cents after the exploration, development and production company announced an operational update related to its Huntington Oil Field located in the UK North Sea. During the fourth quarter of 2013, the company produced on average 3,280 barrels of oil per day as Huntington ramp-up continued to increase following the previously announced curtailment of production by the operator of the Central Area Transmission System from mid-September to late November 2013.

Following a period of inclement weather in December, Huntington returned to plateau production levels and was producing in excess of 34,500 barrels of oil per day (6,100 barrels of oil per day net to Iona) at year end.

Red Pine Exploration Inc. (TSX: V.RPX, Stock Forum) fell 19.1% to 8.5 cents as investors assessed the news that the exploration-stage company had reported results from its late December 2013 drill program on the Cayenne-Chili property, located 110 kilometres southwest of Timmins, Ontario. Drilling results included 27 metres of 8.0% zinc, including 12.7 metres grading 13.6% zinc.

Select Canadian Small/Micro-cap Advancers (as of 4:00 PM Eastern)
Primary Petroleum Corporation (V.PIE, Stock Forum) 35.42%
Kane Biotech Inc. (V.KNE, Stock Forum) 22.22%
GuestLogix Inc. (T.GXI, Stock Forum) 7.87%
Horizons BetaPro NYMEX Natural Gas Bull Plus ETF (T.HNU, Stock Forum) 7.32%
Lorus Therapeutics Inc. (T.LOR, Stock Forum) 7.02%
Select Canadian Small/Micro-cap Decliners (as of 4:00 PM Eastern)
Spectral Diagnostics Inc. (T.SDI, Stock Forum) -33.04%
Red Pine Exploration Inc. (V.RPX, Stock Forum) -19.05%
Transglobe Energy Corporation (TGA, Stock Forum) -6.68%
TransGlobe Energy Corporation (T.TGL, Stock Forum) -6.24%
Premier Gold Mines Limited (T.PG, Stock Forum) -4.57%

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