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Belo Sun rises as Volta Grande finance talks continue

Belo Sun Mining shares gained more than 26% in Toronto on Monday after the company reported it was progressing discussions with several potential financiers for its US$300 million Volta Grande project in Brazil.

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Belo Sun Mining shares have more than doubled in the past 12 months as investors bet on regulators lifting an injunction on the construction permit for the company's Volta Grande project in Para, Brazil

The Toronto-based company said it anticipated the drawn-out construction permit saga for its main project would come to a head in the coming months, with Belo Sun's board expecting an injunction