Perseus Mining (T.PRU) up 4.0% in response to falling gold price

Stockhouse Editorial
0 Comments| February 14, 2014

Stockhouse Canadian Small and Micro-cap Stock Report for Friday, February 14, 2014 VANCOUVER (SHfn) –

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.

Makena Resources Inc. (TSX: V.MKN, Stock Forum) lost 7.7% to 12 cents as investors assessed the news that the exploration-stage company’s initial data has returned results that show multiple conductive anomalies within the Patterson uranium prospect, located in the Athabasca Basin. Two distinctive anomalous zones were encountered. The southern zone has three specific targets within the zone. The north target is a NW trending zone associated with a break in the formation in the direct vicinity of the conductive anomaly. A historical drill hole shows basement to be relatively shallow at 154 metres depth within these zones.

Tags: GOLD

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