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Microcap Report: Orvana Minerals (T.ORV), Victory Nickel (T.NI) active

Stockhouse Editorial
0 Comments| August 13, 2014


Orvana Minerals Corp. (TSX: ORV, Stock Forum) tumbled 23% to 41 cents Wednesday after the company announced that it had received update resource and reserve estimates for El Valle-Boinás/Carlés (“EVBC”) gold-copper mines located in northern Spain, revealing a year-over-year drop in resources and reserves.

According to the news release, the company also received an updated life-of-mine plan for EVBC using proven and probable reserves which indicated a shortened mine life based on the updated reserves.
 

Victory Nickel Inc. (TSX:NI, Stock Forum) rose 17% to 7 cents on news that through its wholly-owned subsidiary, Victory Silica, it had entered into a take-or-pay contract for approximately 20% of the Seven Persons (7P) frac sand plant production capacity.

The 7P plant is located near Medicine Hat, Alberta.

According to the news release, the deal was for its highest volume quantities of 20/40 and 30/50 frac sand and as a result of the transaction the company would now be able to add the third of four crews which would ramp up production to 75% of full capacity.
 

Select Canadian Small/Micro-cap Advancers (as of 4:00 PM Eastern)
Canada Zinc Metals Corp. (V.CZX, Stock Forum) 23.81%
Graphene 3D Lab Inc. (V.GGG, Stock Forum) 22.22%
Canada Carbon Inc. (V.CCB, Stock Forum) 20.00%
Ascot Resources Ltd. (V.AOT, Stock Forum) 18.55%
Canadian Tire Corporation, Limited (T.CTC, Stock Forum) 12.79%
Select Canadian Small/Micro-cap Decliners (as of 4:00 PM Eastern)
GWR Resources Inc. (V.GWQ, Stock Forum) -66.67%
China Minerals Mining Corporation (V.CMV, Stock Forum) -50.00%
Orvana Minerals Corp. (T.ORV, Stock Forum) -22.64%
Photon Control Inc. (V.PHO, Stock Forum) -12.50%
Merus Labs International Inc. (T.MSL, Stock Forum) -7.46%


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