Stornoway Diamond (TSX:SWY) has reported that the “Certificate of Authorization” for the Renard project in Quebec is expected “shortly”. This is the principal regulatory approval required before construction can begin. The company has a market capitalization of $101.6 million.
Pan American Goldfields (OTCQB:MXOM) hopes to table a Preliminary Economic Assessment on its Cieneguita project in Mexico. Following a successful PEA, the company hopes to advance through feasibility studies towards the potential development of a commercial scale mine. The company hopes to fund the feasibility study via cash flow from an existing pilot operation at the site. The company has a $12.2 million market capitalization.
Good progress is continuing towards the completion of the Preliminary Economic Assessment (“PEA”) for the Cieneguita project, however, the results of metallurgical tests are not expected to be completed prior to the month’s end as is an updated geologic model of the deposit and associated mineralization.
Kivalliq Energy Corporation (TSXV:KIV) is expecting more assay results from an additional 93 holes on its Angilak Uranium property in Nunavut. The company intends to incorporate these results into two new resources, expanding the Lac Cinquante uranium mineralization as well as defining new NI 43-101 compliant resources on the J4 zone and the Ray zones by the end of the first quarter of 2013. The company has a market capitalization of $67.61 million.
Lucara Diamond Corp (TSX:LUC) third quarter financial results are due in November. In this quarter, the company reported two sales of diamonds. The recently completed a sale of diamonds from its Mothae Diamond project in Lesotho, Africa was for a total of 4,657 carats of diamonds that were sold for gross proceeds of $1.51 million, yielding an average price per carat of $324. Just prior to that the company sold 52,231 carats of diamonds from its Karowe mine in Botswana for an average price of $257 per carat yielding gross proceeds of $13.4 million. By comparison, Lucara reported $12 million in sales for the first half of 2012. The company has a $280 million market capitalization.
Orbite Aluminae (TSXV:ORT, EORBF-OTCQX) hopes to begin commissioning its new separation plant in the next few weeks. This separation plant capable of producing gallium oxide at a purity of 99.99% and scandium oxide at a purity of 99%+ from the acid recovery circuit of its HPA plant in Cap-Chat, Quebec. The company has a market capitalization of $500 million.
Hyperion Exploration (TSXV:HYX) will release its third quarter financials in November along with an operations update. Hyperion is a light oil and gas company with core operations in Alberta in North Pembina, Buck Lake, Garrington, Niton, and Chip Lake areas. The company has a market capitalization of $32 million.
Mountain Lake Minerals (CNSX: MLK) has fulfilled all listing requirements of the Canadian National Stock Exchange (“CNSX”). As a result the common shares of Mountain Lake will be listed for trading on the CNSX at the opening of trading on Tuesday, October 30, 2012. The company has $4.7 million in its coffers and 23.6 million shares outstanding.Mountain Lake Minerals is a spin-off of Mountain Lake Resources (TSXV:MOA) which was acquired by Marathon Gold. MOA transferred all of its projects, except for the Valentine Lake Project, to Mountain Lake Minerals.Mountain Lake Minerals main projects are located on the pro-mining island of Newfoundland and include: a 100% interest in the Glover Island gold exploration property; a 100% interest in the Little River gold-antimony exploration property; and a 100% interest in the Bobby’s Pond base metals property.
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