Canadian small/micro-cap roundup

Stockhouse Editorial
0 Comments| January 10, 2014


Stock movers for the week of January 6, 2013:
 
On Monday, POET Technologies Inc. (TSX: V.PTK, Stock Forum) rose 11.8% to 57 cents after the technology company announced the completion of the work of the Special Strategic Committee (SSC) and the update of its published milestones. The Board of Directors has endorsed the company's commercialization plan put forward by the SSC which is chaired by Executive Director Peter Copetti. The SSC was established in June 2013 to investigate and initiate strategic alternatives for the commercialization of the POET technology platform using a multi-faceted approach based on discussions with potential industry partners. As a result, major recommendations of the SCC have been implemented.
 
Xmet Inc. (TSX: V.XME, Stock Forum) gained 3.2% to 16 cents after the exploration and development company announced that it has staked an additional 298 claim units immediately adjacent to its existing land package that comprises the Blackflake project bringing its total land package to over 21,000 acres in Northern Ontario. "As a result of our recent success in discovering conductive anomalies, and in particular one such anomaly that bares striking geophysical similarities to that of Zenyatta Ventures Inc.'s (TSX: V.ZEN, Stock Forum) Albany project, we have aggressively expanded our land position based on our geological interpretation of areas co-incident with magnetic lows where we see opportunities to discover additional hydrothermal graphite targets,” said Alexander Stewart, Chairman and CEO. “Our team has identified additional geological indicators, coincident with magnetic lows, which may help us to create excellent targets.”
 
On Tuesday, Lake Shore Gold Corp. (TSX: T.LSG, Stock Forum) was up 7.4% to 58 cents. The stock is reacting to news the miner announced record annual gold production of 134,600 ounces in 2013 (952,700 tonnes at average grade of 4.6 grams per tonne) at top end of company's guidance of 120,000 to 135,000 ounces.
 
Caledonia Mining Corp. (TSX: T.CAL, Stock Forum) climbed 4.1% to 76 cents as investors assessed the news that Caledonia’s Board of Directors has declared a dividend of $0.015 on each of the corporation's common shares issued and outstanding as of 5:00 p.m. Toronto local time on Jan. 22, 2014. 
 
On Wednesday, Graphite One Resources Inc. (TSX: V.GPH, Stock Forum) gained 18.5% to 16 cents after the exploration and development company announced the results for the remaining five drill holes of a recently completed ten-hole diamond drill program on its Graphite Creek property located on the Seward Peninsula of Alaska. These five drill holes further extend mineralization to the west of the existing inferred resource. Drilling has now confirmed a total of 4.8 kilometres continuous near surface high-grade graphite mineralization more than doubling the size of the existing strike length. Highlights of the results include 177 metres grading 3.0% graphite, 126.7 metres of 2.5% graphite and 106.15 metres at 2.05% graphite. Additionally, an updated 43-101 resource is expected to be completed this month.
 
In Thursday trading, Petrolia Inc. (TSX: V.PEA, Stock Forum) rose 11.25% to 89 cents after the oil and gas explorer announced the beginning of court hearings to determine the legality of a municipal by-law, which the Quebec City of Gaspé, officially adopted on Dec. 22, 2012. This by-law governs the minimum permissible distance between drill holes and drinking water sources in the City's territory and imposes other conditions relating to drilling.
 
Pursuant to discussions with the City of Gaspé last November, the hearings had been postponed to allow the Quebec Government to proceed with the adoption of a provincial regulation on water sampling and protection. Pétrolia and the City of Gaspé agree that the adoption of this regulation by the Quebec Government would render the municipal by-law null and void, which would put an end to the judicial proceedings. Although Pétrolia is still pursuing discussions with government representatives, the company has taken this recourse to the courts to obtain clarity on these matters.
 
Declan Resources Inc. (TSX: V.LAN, Stock Forum) was up 16.67% to 14 cents. The stock is reacting to news the mineral explorer and its option partner, Lakeland Resources Inc. (TSX: V.LK, Stock Forum) provided an update on recent work completed at the Gibbons Creek uranium property located along the northern margin of the Athabasca Basin, Saskatchewan. Highlights of the update include the completion of a land-based RadonEx™ survey at Gibbons Creek, with peak of 9.93 pCi/m2/sec (believed to be one of the highest reported RadonEx values recorded to date for the Athabasca Basin), as well as ground-prospecting and sampling program which confirms the existence of a historic radioactive boulder field on the Gibbons Creek property. Results include eight boulders with assays greater that 1.0% U3O8, and a high of 4.28% U3O8.
 
And, on Friday Tanager Energy Inc. (TSX: V.TAN, Stock Forum) soared 29.4% to 11 cents as investors assessed the news Pat McGaffey has been appointed as Vice President, Mergers and Acquisitions. Mcgaffey has over 36 years of experience related to mergers and acquisitions. Mcgaffey is currently President & CEO of Agrico Realty Consultants - Mergers/Acquisitions, President & CEO of Thunderbird Energies Inc., and VP Business Development of the Canadian Beef Alliance.
 
True Gold Mining Inc. (TSX: V.TGM, Stock Forum) was up 2.5% to 41 cents. The stock is reacting to news the mineral exploration and development company has granted incentive stock options to its directors, officers, employees and consultants exercisable to purchase in aggregate up to 6.13 million common shares in the capital of the company until Jan. 10, 2019 at an exercise price of $0.40 per share, being the closing market price of the company's shares as traded on the TSX Venture Exchange on Jan. 9, 2014.

Tags: GOLD

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