Small
stocks making big moves on Tuesday, November 4, 2014 (as of 4 pm EST), as
reported by Sean Mason, SmallCapPower.com
Banro Corporation (TSX: BAA)
shares shot 23% to $0.185 on Tuesday after the Canadian gold miner announced
the signing of the definitive agreement with Dubai’s Gold Holding Ltd. for a US$41
million gold sale transaction relating to the Twangiza mine in the Democratic
Republic of the Congo. This transaction, which is expected to close within the
next few weeks, involves the prepayment by Gold Holding of US$41 million for
its purchase of 40,500 ounces of gold from the Twangiza mine, with the gold
deliverable over four years, at 10,125 ounces per year.
As well,
shares of Allied Nevada Gold Corp. (TSX: ANV)
slid 27% to $1.18 as the gold and silver miner reported a third quarter net
loss of $62.4 million, or $0.60 per share, which includes a write-down of $70.7
million, and said it expects 2014 metal sales of approximate 220,000 to 230,000
ounces of gold and 1.9 million to 2.0 million ounces of silver.
NMC Resource Corporation (TSXV: NRC),
meanwhile, said it has received a letter of intent from Dong Won
Corporation for a going-private transaction at a price of $0.20 per outstanding
common share. NMC Resource is a mining company with molybdenum assets in South
Korea and British Columbia. NMC stock popped 256% to $0.16 following the
announcement.
Finally, Visible Gold Mines Inc. (TSX: VGD)
shares rose as much as 8% before ending the day unchanged at $0.12 after the junior explorer reported the discovery of
numerous rusty and angular boulders located in the middle section of its new
project in Quebec called “167 EXTENSION.” The company referred to
this discovery as a “second high-grade gold boulder zone.”
