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Graphite junior up 38% on discovery

Elizabeth Walters Elizabeth Walters, Stockhouse
0 Comments| March 19, 2013

Stockhouse Canadian Small and Micro-cap Stock Report for Tuesday, March 19, 2013  TORONTO (SHfn) –  Graniz Mondal Inc. (TSX: V.GRA.H, Stock Forum) soared 38% to 0.345 cents on Tuesday after the graphite-focused junior said it had discovered wide intercepts of graphite mineralization at the Brunet graphite deposit located near Mont-Laurier, Quebec. The highlights included over 209 feet grading 5% graphite and over 163 feet grading 7.2% graphite.

Encanto Potash (TSX: V.EPO, Stock Forum) was up 9% to 30 cents. The stock is reacting to news that the Harper Government supports development of the first ever on-reserve potash mine. The Muskowekwan First Nation potash mine project has been accepted by the federal government under the First Nations Commercial and Industrial Development Act. Once the project gets under way, it is expected to generate approximately 1,000 construction jobs for the development of the mine and nearly 500 jobs once it is fully operational. In addition, the mine is expected to generate tens of millions in revenue royalties for the First Nation annually.

Balmoral Resource (TSX: V.BAR, Stock Forum) rose 1.3% to 78 cents after the precious metal exploration and development company said it had been advised by GTA Resources and Mining Inc. (TSX: V.GTA, Stock Forum) that drilling has resumed on the company's Northshore property located near Schreiber, Ontario. The Northshore property hosts the Afric Gold Zone, a broad at/near surface gold zone which has, to date, been outlined over an area of 500 x 350 metres and intersected to a vertical depth of 350 metres.

Lake Shore Gold (TSX: T.LSG, Stock Forum) lost 4.3% to 67 cents after the gold development company announced the appointment of Philip C. Yee as VP and CFO of the company, effective May 1, 2013. Mr. Yee is a Chartered Professional Accountant and a Chartered Accountant with over 25 years of experience in the accounting and financial fields and over 10 years of experience in the mining sector. Most recently, he has served as CFO for Patagonia Gold Plc (TSX: T.PAT, Stock Forum) since May 2011.

Top Canadian Small/Micro-cap Advancers (as of 4:00 PM Eastern)
Sniper Resources Ltd. (V.SIP, Stock Forum) 66.67%
Valterra Resource Corporation (V.VQA, Stock Forum) 62.50%
AgriMarine Holdings Inc. (V.FSH, Stock Forum) 33.33%
Brigadier Gold Limited (V.BRG, Stock Forum) 28.57%
Forent Energy Ltd. (V.FEN, Stock Forum) 22.22%
Top Canadian Small/Micro-cap Decliners (as of 4:00 PM Eastern)
First Uranium Corporation (V.FIU.H, Stock Forum) -86.36%
ID Watchdog, Inc. (V.IDW, Stock Forum) -33.33%
Canadian Imperial Venture Corp. (V.CQV, Stock Forum) -31.25%
Strikepoint Gold Inc. (V.SKP, Stock Forum) -25.00%
Mkango Resources Ltd. (V.MKA, Stock Forum) -25.00%


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