ASX micro to small-cap resources stocks
14 Nov 2014
The top performer of the day on ASX micro to small-cap resources stocks was Sumatra Copper and Gold PLC (ASX: SUM) up 41% to close at $0.055. Mobilisation of the construction team for the company’s Tembang gold-silver project in Sumatra, Indonesia has commenced. Draw down of the Tranche 1 US$40m, net of transaction costs and first year interest of US$3.0m have been completed. Production is expected within 12 months of project recommencement.
The worst performer of the day was Condor Blanco Mines Limited (ASX: CDB) down 50% to close at $0.001. The joint venture with Rio Perdido Gold Limited has expired and the opportunity to proceed with Block 19 of the Sabaleta gold concession in Ecuador is now no longer available due to third party interests.
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