Corvus Gold Inc. (T.KOR) hit a new 52-week high of 96 cents Tuesday. Corvus Gold Inc. announced the results of an independently prepared Preliminary Economic Assessment ("PEA") for its North Bullfrog Project in Nevada. This PEA is based on the Company's November 7, 2011 resource estimate and does not include data from the recent successes from the 2012 exploration program).
The PEA produced a robust positive economic analysis for a conceptual, low capex, heap leach project that generates an average annual gold production of 57,700 ounces over 12.8 years, at a life of mine strip ratio of 0.41 to 1 (overburden to process feed), indicating a pre-tax, pre-royalty NPV(5%) of $118.3M, and an IRR of 28.8% at $1,300 per ounce gold price.
The PEA also shows the project has a considerable leverage to gold price, with a pre-tax, pre-royalty NPV(5%) of $338M and an IRR of 70% at $1,700 per ounce gold price
Second Wave Petroleum Inc. (T.SCS) hit a new 52-week high of $3.52 Tuesday. Second Wave Petroleum Inc. announced the results of its independent reserves evaluation as of December 31, 2011 and the initiation of a strategic alternatives review process with a view of enhancing shareholder value due to unsolicited expressions of interest.
MI Developments Inc. (T.MIM) hit a new 52-week high of $37.79Tuesday. No news announcements today
Flint Energy Services Ltd. (T.FES) hit a new 52-week high of $24.95 Tuesday. No news announcements today
Canadian Helicopters Group Inc. (T.CHL.A) hit a new 52-week high of $27.20 Tuesday. No news announcements today
Argonaut Gold Inc. (T.AR) hit a new 52-week high of $10.20 Tuesday. No news announcements today
