On Monday, WesternZagros Resources (TSX: V.WZR, Stock Forum) shares climbed as much as 12% before closing up 3% to $1.14 on volume of more than three million shares after the oil and gas producer/explorer announced a four-fold increase in its contingent resource estimate for the Kurdamir Block in the Kurdistan Region of Iraq. The company said the total mean estimate of gross un-risked contingent resources has increased to 590 million barrels of oil, or in excess of one billion barrels of oil equivalent when gas and condensate are included.
As well, shares of Balmoral Resources (TSX: V.BAR, Stock Forum) slipped 10% to 96 cents as the micro cap explorer reported additional gold results from drill testing of multiple shallow zones situated along the Bug Lake Fault System on its wholly-owned Martiniere Property in Quebec, which included 11.74 grams per tonne (g/t) gold over 8.90 metres.
InTuesday trading, Northcliff Resources (TSX: T.NCF, Stock Forum) shares jumped 33% to 40 cents after the resource developer reported Feasibility Study results for its 100%-owned Sisson Project in New Brunswick, which estimates a pre-tax net present value of $714 million at an 8% discount rate, an internal rate of return of 20.4% and a 4.1-year payback on initial capital expenditures of $579 million at long-term metal prices of US$350/mtu for ammonium paratungstate and US$15/lb for molybdenum.
Also, shares of ZENN Motor Company (TSX: V.ZNN, Stock Forum) soared 94% to $1.26 on volume of more than 1.5 million shares as the provider of power storage solutions to the transportation industry commented on an announcement made by EEStor, Inc. on January 28, 2013, in regards to the preliminary (pre-certification) test results of recently produced single layers of its electrical energy storage units built in its pilot production facility. ZENN called the results "very encouraging." ZENN Motor’s technologies are powered by EEStor's electrical energy storage units.
Wednesday’s market action saw shares of Meadow Bay Gold (TSX: T.MAY, Stock Forum) surge 27% to 54 cents on volume of more than 1.6 million shares after the micro cap resource company reported that it has doubled its National Instrument 43-101 resource estimate for the Atlanta Gold Mine Project in Nevada to a Measured and Indicated resource of 15.5 million tons grading 0.037 ounces per ton gold for 572,100 ounces of gold and Inferred resources of 18.5 million tons grading 0.029 ounces per ton gold for 544,300 ounces of gold, this using a 0.015 ounces per ton gold cut off grade.
In addition, shares of Great Western Minerals Group (TSX: V.GWG, Stock Forum) fell 8% to 34 cents as the rare earth project developer said the January 2013 targeted release date for the Preliminary Economic Assessment (PEA) on its Steenkampskraal rare earth property in South Africa has been pushed forward until sometime before the end of the first quarter of 2013.
On Thursday, Highland Copper Company (TSX: V.HI, Stock Forum) shares powered 17% higher to 55 cents after the micro cap explorer reported results for 18 additional diamond drill holes from the 543S chalcocite deposit at the Keweenaw copper project in Michigan, which included 13.0 meters of 3.64% copper and 5.9 grams per tonne (g/t) silver.
As well, shares of Zodiac Exploration (TSX: V.ZEX, Stock Forum) gained as much as 17% before closing up 4% to 12.5 cents on volume of more than 7.2 million shares as the oil and gas explorer said it has been advised by its farmout partner Aera Energy LLC that rig mobilization and drilling operations on the Mortgage Block is set to commence. It is anticipated that the spudding of the first well will begin on or about February 4, 2013.
And, in Friday trading, CBM Asia Development (TSX: V.TCF, Stock Forum) shares climbed 17% to 21 cents after the unconventional gas company announced that it has completed its coalbed methane resource estimate for the Kutai West Production Sharing Contract in East Kalimantan, Indonesia. The Best Estimate appraisal is 3,915 Bcf of gross unrisked prospective gas resources, 705 Bcf of which is net to the company.
Finally, shares of Twin Butte Energy (TSX: T.TBE, Stock Forum) dropped 17% to $2.22 on volume of more than 15.6 million shares as the intermediate oil producer said it has been hampered by a number of operational and reservoir performance issues since late December 2012. The company added that a number of wells at its Primate Property in Saskatchewan had lost inflow or were experiencing higher water cuts than in December.