Canadian small/micro-cap roundup

Stockhouse Editorial
0 Comments| February 14, 2014


Stock movers for the week of February 11, 2014:

On Tuesday, Integra Gold Corp. (TSX: V.ICG, Stock Forum) was up 37.5% to 33 cents. The stock is reacting to news of the exploration stage company’s drilling results from its fall/winter 2013 Parallel zone drill program at the Lamaque gold project located in Val-d'Or, Québec. Highlights included over 2.0 metres of 13.06 grams per tonne gold, 1.10 metres grading 41.83 grams per tonne gold and 1.0 metre at 71.47 grams per tonne gold.

Black Iron Inc. (TSX: T.BKI, Stock Forum) climbed11.4% to 19.5 cents as investors assessed the news that Shymanivske Steel LLC, an indirect, wholly-owned subsidiary of Black Iron, has executed protocol of intent agreements with several service providers in Ukraine for access to process, potable water supply and water process, public road usage, emergency and telecom services to Black Iron's Shymanivske iron ore project located near Kryvyi Rih, Ukraine.

On Wednesday, Crown Point Energy Inc. (TSX: V.CWV, Stock Forum) gained 29% to 58 cents as investors assessed the news the oil and gas company has drilled, logged, cased and rig released the La Hoyada x-1 exploration well as a potential Vaca Muerta oil discovery on the Cerro de los Leones Concession in the Neuquén Basin, Province of Mendoza, Argentina. The La Hoyada x-1 well was drilled to a total depth of 1,953 meters and encountered persistent oil shows and gas while drilling through the Vaca Muerta formation, which consisted of 125 meters of shale and 84 meters of imbedded fractured igneous intrusives. 
 
Eagle Hill Exploration Corp. (TSX: V.EAG, Stock Forum) gained 5.9% to nine cents before closing unchanged at 8.5 cents after releasing the final assay results from its fall 2013 drill program at the Windfall Lake gold project. Eagle Hill completed a total of 28,107 metres of diamond drilling in 78 holes between September 12 and Dec. 20, 2013, with the objective of expanding the known mineral resource. Highlights of the latest assay results included over 1.0 metre of 16.7 grams per tonne gold, over 0.4 of a metre grading 28.7 grams per tonne gold and 0.9 of a metre at 9.1 grams per tonne gold.

On Thursday, Taipan Resources Inc. (TSX: V.TPN, Stock Forum) soared 21.2% to 31.5 cents after the oil and gas company announced an updated independent assessment of the company's prospective resources on Block 2B, located onshore Kenya, Africa. The total estimated mean gross unrisked prospective resources on Block 2B in the report has increased by 388% to 1,593 million barrels of oil from 410.4 million barrels of oil. 
 
POET Technologies Inc. (TSX: V.PTK, Stock Forum) was up 9.6% to 91 cents. The stock is reacting to news the electronic components company has closed its previously announced non-brokered private placement financing of 7.7 million units at a price of $0.65 per unit for proceeds of $5.0 million. The proceeds will be used to fund the company's internal and third party development efforts necessary to complete the milestones required to enable the monetization of the POET Technology. 


And, on Friday, Perseus Mining Ltd. (TSX: T.PRU, Stock Forum) rose 4.0% to 52 cents after the gold miner reported a net after tax loss of $4.024 million or 0.84 cents per share for the six-month period ended Dec. 31, 2013. In response to a falling gold price, Perseus adopted a production strategy aimed at minimising capital investment. This meant that part of the mill feed for the period was drawn from existing low grade ore stockpiles in preference to targeting higher grade ore from new mining areas that required investment of significant amounts of capital to pre-strip waste.

Goldquest Mining Corp. (TSX: V.GQC, Stock Forum) slipped 2.9% to 34 cents after the resource company announced that the company has commenced flying a helicopter borne ZTEM geophysical survey covering its Tireo Concessions, located in the Dominican Republic. The geophysical survey is the first electro-magnetic survey ever flown over this belt, and will include a high-sensitivity cesium vapour magnetometer for mapping geologic structure and lithology.


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