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Junior up 45% on mining licence news

Elizabeth Walters Elizabeth Walters, Stockhouse
0 Comments| March 25, 2013

 Stockhouse Canadian Small and Micro-cap Stock Report for Monday, March 25, 2013 TORONTO (SHfn) – Pacific Wildcat Resources Corp. (TSX: V.PAW, Stock Forum) jumped 45% to 0.08 cents on Monday after the mineral exploration company said that Cortec Mining Kenya Ltd., owner of the Mrima Hill niobium and rare earth project in Kenya, has been issued with a special mining licence from the Republic of Kenya, Mines and Geology Department. The licence, which has a term of 21 Years, is for the exploration, development and mining of niobium and rare earth elements at Mrima Hill. PAW owns 100% of Stirling Capital Ltd. and Cortec Pty Ltd., two UK companies that between them own a 70% interest in Cortec Mining Kenya.

Graphite One Resources Inc. (TSX: V.GPH, Stock Forum) climbed nearly 9% to 0.185 cents as investors assessed the news that the mineral exploration company commissioned JDS Energy and Mining Inc., pursuant to the completion of a preliminary economic assessment. Results of the studies will be published as available and will be part of the PEA for the Graphite Creek property. The property comprises 129 claims totaling 6,799 hectares on the Seward Peninsula of Alaska, 65 kilometres north of Nome.

Gold Canyon Resources Inc. (TSX: V.GCU, Stock Forum) lost 7% to 0.465 cents after the exploration company announced the receipt of a positive preliminary economic assessment prepared by SRK Consulting (Canada) Inc. for its 100% controlled Springpole gold project in northwest Ontario, Canada. The PEA supports a conventional open-pit mining and milling operation at a 5% discount rate and a US$1,300 per ounce gold price. The project's pre-tax net present value is estimated at US$579 million with a pre-tax internal rate of return of 25%, and a non-discounted payback of 1.7 years.

Top Canadian Small/Micro-cap Advancers (as of 4:00 PM Eastern)
CapGain Properties Inc. (V.CPP, Stock Forum) 70.00%
Belvedere Resources Ltd. (V.BEL, Stock Forum) 27.27%
Confederation Minerals Ltd. (V.CFM, Stock Forum) 21.88%
Innovente Inc. (V.IGE, Stock Forum) 20.99%
Africa Oil Corp. (V.AOI, Stock Forum) 14.33%
Top Canadian Small/Micro-cap Decliners (as of 4:00 PM Eastern)
Pacific Coal Resources Ltd. (V.PAK, Stock Forum) -88.55%
Niogold Mining Corp. (V.NOX, Stock Forum) -24.00%
Bowmore Exploration Ltd. (V.BOW, Stock Forum) -18.18%
Westbridge Energy Corporation (V.WEB, Stock Forum) -16.67%
Gondwana Gold Inc. (V.PAO, Stock Forum) -16.67%


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