Great Western Minerals (V.GWG) up 57% on mini pilot plant test: Canadian market movers

Elizabeth Walters Elizabeth Walters, Stockhouse
0 Comments| January 16, 2014


Here are the most active stocks on Thursday mid-morning on the TSX and TSX Venture Exchange.

On Thursday, the top TSX mover was Bombardier Inc. (TSX: T.BBD.B, Stock Forum). It lost 5.8% and was trading at $4.26 on volume of 20.7 million shares.
 
Today the transportation equipment manufacturer said that based on the thorough review of the CSeries program after the first flight of the CS100 on Sept.16, 2013, the flight test phase will require more time than originally anticipated to ensure, amongst other things, that the aircraft has the overall system maturity to support a successful entry-into-service. The CS100 aircraft's entry-into-service is now scheduled for the second half of 2015 and will be followed by the CS300 aircraft's entry-into-service approximately six months afterwards.
 
Teranga Gold Corp. (TSX: T.TGZ, Stock Forum) was the second most active stock on the TSX. The stock slipped 1.5% and trading at $0.64 on volume of 4.9 million.

Today, the exploration company announced the completion of funding of US$135 million by Franco-Nevada Corp. (TSX: T.FNV, Stock Forum) under the stream transaction announced on Dec. 12, 2013. With the US$135 million received from Franco-Nevada, Teranga has completed the previously announced acquisition of the balance of the Oromin Joint Venture Group Ltd. that it did not already own from Bendon International Ltd. and has retired US$30 million of its US$60 million debt facility with Macquarie Bank Ltd. 
 
Concurrently, Teranga has acquired the Badr Investment & Finance Company under the terms previously announced for US$7.5 million.
 
Great Western Minerals Group Ltd. (TSX: V.GWG, Stock Forum) was the volume leader on the TSX Venture Exchange. It soared 57.1% and was trading at $0.11 on volume of 6.1 million.
 
On January 15, the rare earth focused company announced that it has completed a mini pilot plant test with its proposed process flow sheet with extremely successful results.
 
The second most active stock on the TSX Venture was Geomaga Resources Inc. (TSX: V.GMA, Stock Forum) It gained 20.8% and was trading at $0.29 after 1.6 million shares changed hands.
 
On January 15, the company soared 118.2% to 24 cents after mining junior announced the successful conclusion of tests confirming physical separation of rare earth elements (REE).
 
According to the press release, GéoMégA's physical separation process has the potential to dramatically reduce the capital required to build separation facilities compared to conventional techniques, optimize REE recovery and improve the environmental performance of operations.


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