North American Palladium (T.PDL) falls 13%

Stockhouse Editorial
0 Comments| January 30, 2014


Stockhouse Canadian Small and Micro-cap Stock Report for Thursday, January 31, 2014 VANCOUVER (SHfn) –

Maya Gold & Silver Inc. (TSX: V.MYA, Stock Forum) was up 7.1% to 30 cents before closing unchanged at 28 cents after announcing that it has entered into a facility agreement with a fund managed by Scipion Capital Ltd. for a finance facility in a principal amount of US$6.0 million, of which US$3.5 million is immediately available. The initial facility is a 12-month loan maturing on Jan. 31, 2015 with interest at 12%, and is repayable in nine consecutive monthly installments beginning on May 31, 2014 from the cash generated by the operations of Maya's Zgounder silver mine. Maya and Scipion have also agreed that the loan may be increased by a second US$2.5 million tranche, for an additional 12-month term, for an aggregate facility of US$6.0 million.

The proceeds of the first tranche of the loan will be used exclusively for the re-commissioning of the Zgounder silver mine, in Morocco. The proceeds of the second tranche of the loan will be used for optimization of underground operation and milling facilities in order to reduce production costs, lower cut-off grade and increase capacity.

Wellgreen Platinum Ltd. (TSX: V.WG, Stock Forum) slipped 2.2% to 90 cents after the miner announced further results from its most recent field program at its Wellgreen PGM-Ni-Cu project, located in Canada's Yukon Territory. Assaying and interpretation of historic drill core that was previously only selectively sampled has confirmed that the mineralization identified in the Far East Zone announced on Nov. 21, 2013 extends to the west by approximately 300 metres into the East Zone and remains open. The Far East Zone included hole 215, which intercepted 756 metres of continuous mineralization grading 1.92 grams per tonne platinum equivalent or 0.46% nickel equivalent, including a 65.6 metre interval grading 4.19 grams per tonne platinum equivalent or 1.00% nickel equivalent.

POET Technologies Inc. (TSX: V.PTK, Stock Forum) slipped 10.7% to 75 cents after the circuit devices developer reported a non-brokered private placement of approximately 7.7 million units at a price of $0.65 per unit for proceeds of up to $5.0 million. The proceeds will be used to fund the company's internal and third party development efforts necessary to complete the milestones required to enable the monetization of the POET Technology.

North American Palladium Ltd. (TSX: T.PDL, Stock Forum) lost 12.9% to 54 cents after the precious metals producer said it has amended the conversion price of its previously announced proposed public offering of up to $32 million principal amount of 7.5% convertible unsecured subordinated debentures and associated warrants. The conversion price was amended to reflect the volume weighted average price of the common shares on the Toronto Stock Exchange on Jan. 29, 2014. The initial conversion price of the first tranche debentures will be $0.635 and the initial exercise price of the first tranche warrants will be $0.762.
 

Select Canadian Small/Micro-cap Advancers (as of 4:00 PM Eastern)
Doubleview Capital Corp. (V.DBV, Stock Forum) 41.18%
Veris Gold Corp. (T.VG, Stock Forum) 34.62%
Orbite Aluminae Inc. (T.ORT, Stock Forum) 9.09%
Teranga Gold Corp. (T.TGZ, Stock Forum) 7.14%
Western Forest Products Inc. (T.WEF, Stock Forum) 6.67%
Select Canadian Small/Micro-cap Decliners (as of 4:00 PM Eastern)
TSO3 Inc. (T.TOS, Stock Forum) -20.63%
North American Palladium Ltd. (T.PDL, Stock Forum) -12.90%
Americas Petrogas Inc. (V.BOE, Stock Forum) -8.76%
Tembec Inc. (T.TMB, Stock Forum) -7.69%
Horizons BetaPro COMEX Silver Bull Plus ETF (T.HZU, Stock Forum) -6.09%



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