Taipan Resources (V.TPN) up 21% on 388% increase of prospective resources

Stockhouse Editorial
0 Comments| February 13, 2014


Stockhouse Canadian Small and Micro-cap Stock Report for Thursday, February 13, 2014 VANCOUVER (SHfn) –
 
Taipan Resources Inc. (TSX: V.TPN, Stock Forum) soared 21.2% to 31.5 cents after the oil and gas company announced an updated independent assessment of the company's prospective resources on Block 2B, located onshore Kenya, Africa. The total estimated mean gross unrisked prospective resources on Block 2B in the report has increased by 388% to 1,593 million barrels of oil from 410.4 million barrels of oil. 
 
POET Technologies Inc. (TSX: V.PTK, Stock Forum) was up 9.6% to 91 cents. The stock is reacting to news the electronic components company has closed its previously announced non-brokered private placement financing of 7.7 million units at a price of $0.65 per unit for proceeds of $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. 
 
Western Lithium USA Corp. (TSX: T.WLC, Stock Forum) rose 9.5% to 34.5 cents after the exploration and development company announced that it has received a milestone payment of US$1.5 million pursuant to the royalty purchase agreement with Orion Mine Finance (Master) Fund I LP, the company's largest shareholder and a major New York investment fund, to be put towards building the planned lithium demonstration plant expected to be operational in the fourth quarter of 2014. Western Lithium intends to use the plant to collect design data for a definitive feasibility study and to demonstrate the viability of producing low cost lithium carbonate from its Kings Valley lithium-rich hectorite clay deposit in Nevada.
 
Metanor Resources Inc. (TSX: V.MTO, Stock Forum) slipped 5.0% to cents after the junior announced that it has produced 4,028 ounces of gold during the month of January at its Bachelor mine.


Select Canadian Small/Micro-cap Advancers (as of 4:00 PM Eastern)
TransAmerican Energy Inc. (V.TAE, Stock Forum) 200.00%
Taipan Resources Inc. (V.TPN, Stock Forum) 23.08%
Cardiome Pharma Corp. (T.COM, Stock Forum) 22.22%
ATAC Resources Ltd. (V.ATC, Stock Forum) 20.00%
Belo Sun Mining Corp. (T.BSX, Stock Forum) 19.57%
Select Canadian Small/Micro-cap Decliners (as of 4:00 PM Eastern)
Resverlogix Corp. (T.RVX, Stock Forum) -18.18%
WesternZagros Resources Ltd. (V.WZR, Stock Forum) -12.04%
Allana Potash Corp. (T.AAA, Stock Forum) -10.78%
Yellow Media Ltd. (T.Y, Stock Forum) -10.21%
Gluskin Shef+ Associates Inc. (T.GS, Stock Forum) -8.53%



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