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Microcap Report: Romarco (T.R) Baja Mining (V.BAJ) active on gold project news

Stockhouse Editorial
1 Comment| May 13, 2014

Romarco Minerals Inc. (TSX: T.R, Stock Forum) fell 1.3% to 76 cents Tuesday after the company said the draft environmental impact statement for the Haile Gold Mine project in Carolina has officially closed.

“The DRAFT EIS comment period is a significant milestone in the EIS process and we will continue to openly communicate with all shareholders,’’ said Romarco President and CEO Diane Garrett in a press release.

Baja Mining Corp.  (TSX: V.BAJ, Stock Forum)  jumped 28.6% to 4.5 cents on volume of 8.3 million shares. The company said it has been advised by Minera y Metalurgica del Beleo, S.A. P.I. de C.V.  (MMB) and Korea Resource Corp. that MMB has completed the issuance of a US$340 million corporate bond with a fixed annual interest rate of 2.87% and a repayment due May 7, 2019, fully backed by a KORES guarantee.

MMP has further advised Baja Mining that it has used US$288 million of the bond proceeds to repay in full and close the remaining 2010 project financing senior facilities, as well as the Korean Development Bank subordinated debt.

The company said in a press release it expects the remaining proceeds of the bond to be used to fund a significant portion of the balance of the Boleo Project construction completion. Baja, through MMG, owns 10% stake in the Boleo copper-cobalt-zinc manganese project, which is located in Baja California Sur, Mexico.

Select Canadian Small/Micro-cap Advancers (as of 4:00 PM Eastern)
Commerce Resources Corp. (V.CCE, Stock Forum) 41.18%
Baja Mining Corp. (T.BAJ, Stock Forum) 28.57%
Baja Mining Corp. (V.BAJ, Stock Forum) 28.57%
Anderson Energy Ltd. (T.AXL, Stock Forum) 19.57%
High North Resources Ltd. (V.HN, Stock Forum) 18.18%
Select Canadian Small/Micro-cap Decliners (as of 4:00 PM Eastern)
POET Technologies Inc. (V.PTK, Stock Forum) -12.82%
Balmoral Resources Ltd. (V.BAR, Stock Forum) -9.62%
Tweed Marijuana Inc. (V.TWD, Stock Forum) -7.24%
Blackbird Energy Inc. (V.BBI, Stock Forum) -6.45%
Enterprise Group, Inc. (T.E, Stock Forum) -5.71%

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Savvy investors are buying cheap shares of C.WOF (Woulfe Mining). C.WOF is in strategic negotiations with Warren Buffett's company IMC part of the Berkshire Hathaway group of companies. Two scenarios could take place here. 1) Goodman's Dundee Corporation makes a buyout offer on Woulfe Mining. 2) Buffett's Berkshire Hathaway makes a buyout offer on Woulfe Mining.
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May 14, 2014
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