Miners are in the spotlight Wednesday, with two international firms enjoying good tidings and decent advances in their stocks.
Materials climbed 2.5% on major markets in the United States, while jumping 5.7% late in the day in Canada.
Antler Gold Inc. trades over the counter in the states under the symbol (OTC:ALRGF), though it is headquartered in Halifax. Wednesday, the firm gave an update on progress made on its Erongo Project in central Namibia.
The Erongo Gold Project covers areas of the Navachab-Damara Belt, which is highly prospective for gold, and overlies similar lithologies and structures as the known Namibian Gold mines (QKR's Navachab and B2 Golds' Otjikoto) as well as Osino Resources' recent Twin Hills discovery.
Antler's total license position now comprises three licenses (EPL 5455, 6162 and 7261) under option and a further five (EPL 7854, 7930, 7960, 8010 and 8042) under application, for a total landholding of approximately 81,100ha (811km2). The Erongo Gold Project is located approximately 130 km north-west of Namibia's capital city Windhoek and benefits from Namibia's well-established infrastructure of paved highways, railway, power and water.
Antler traded 12.4% higher in the last hour of Wednesday’s session to six cents, on just over 10,000 shares.
Vancouver-based NorZinc Ltd. (TSX: NZC) came out Wednesday with a significant corporate update on its Mine Enhancement work described in prior news releases. The Company is also pleased to announce the signing of a $3- million U.S., or approximately $4.2-million Canadian unsecured loan agreement with RCF VI CAD LLC, the Company's largest shareholder
RCF will provide the unsecured bridge loan, carrying an interest rate of 8% per annum. The loan is payable upon the earlier of (i) the date that is six months from the closing date of the Bridge Loan and (ii) upon the completion of the RO (as defined below). RCF holds approximately 40% of the issued and outstanding shares of the Company.
NZC shares gained half a cent, or 9.1%, to six cents, or 45,000.
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