On Monday, shares of Hillsborough Resources (TSX:T.HLB, Stock Forum) surged more than 41% to 44.5 cents, after Vitol Anker International B.V., a wholly owned subsidiary of the Vitol Group, announced its intention to make an offer to acquire all of the common shares of the company that it does not currently own for 45 cents per share. Vitol Anker says it has entered into a lock-up agreement in support of the intended offer with holders approximately 9% of the outstanding Hillsborough common shares.
Meanwhile, Calgary-based Canadian Hydro Developers (TSX: T.KHD, Stock Forum) shares soared 34% to $4.90, after TransAlta Corporation (TSX: T.TA, Stock Forum) said that it plans to make an all-cash offer to acquire the company for $4.55 per share. The proposed transaction has an enterprise value of approximately $1.5 billion. Canadian Hydro Developers operates 694 megawatts of wind, hydro and biomass facilities in Alberta, Ontario, Quebec and British Columbia.
In Tuesday trading, shares of Saskatoon-based Great Western Minerals Group (TSX: V.GWG, Stock Forum) jumped 21% or 2.5 cents to 14.5 cents after the company announced that it has signed a non-binding letter of intent with Toyota Tsusho Corporation to examine the merits of jointly conducting exploration and development activities on Great Western’s Douglas River and Benjamin River exploration projects. The company says the projects are of particular interest to TTC since they appear to be significantly enriched in the "heavy" rare earth elements, critical to the manufacture of high-temperature magnets used in electric motors.
Also, Crescent Resources Corp. (TSX: V.CRC, Stock Forum) announced that it has signed an agreement to acquire up to a 100% interest in certain mineral claims covering approximately 4,000 acres located in the Rattlesnake Hills area of Wyoming. In connection with the acquisition, the company says it proposes to raise up to $500,000 by way of a non-brokered private placement, with proceeds used for acquisition costs and exploration work on the Rattlesnake Hills properties and general corporate purposes. Shares of the company surged 65% to 16.5 cents.
Wednesday’s market action saw shares of Toronto-based VG Gold Corp. (TSX: T.VG, Stock Forum) surge 96% to 25.5 cents Wednesday, after the company announced that Lexam Explorations (TSX: V.LEX, Stock Forum), 49.4% owned by its chairman and CEO Rob McEwen, has agreed to make a strategic investment in the company. The aggregate subscription of 37.5 million units will be issued by way of a private placement
, with each unit priced at eight cents, and completed in two tranches.
In other news, Ithaca Energy (TSX: T.IAE, Stock Forum) shares climbed more than 14% to 70 cents, after the company reported that production from the Jacky field in the North Sea is now flowing at rates in excess of 11,000 bopd. The company says that in May, the downhole pump was activated, immediately boosting the flow from the reservoir. Ithaca notes that daily rates are in excess of 11,000 bopd, with 7,400 bopd net to Ithaca.
On Thursday, shares of Brazauro Resources (TSX: V.BZO, Stock Forum) powered 17.8% higher to 66 cents, after the company announced results of additional drilling carried out by Eldorado Gold at Brazauro’s 100%-owned Tocantinzinho Gold Project in Brazil. Highlights from this round of drilling include TOC-110, with 1.27 g/t gold over 121.42 meters from 106.58 meters depth and TOC-116 with 1.54 g/t gold over 123.13 meters from surface. Eldorado Gold is managing the Tocantinzinho Project, following an option/joint venture agreement signed last year.
And, Linear Metals Corporation (TSX: T.LRM, Stock Forum) shares surged 53.8% to 10 cents, after the company announced that it has arranged a non-brokered private placement of up to 15 million common shares at six cents per share, for total gross proceeds of up to $900,000. Net proceeds of the offering will be used for exploration of the company's mineral properties, strategic property acquisitions and working capital.
And, in Friday trading,shares of Vancouver-based Adriana Resources (TSX: V.ADI, Stock Forum) climbed 13% to 34 cents, after the company announced that it has entered into two memorandums of understanding with an unnamed major Chinese steel company. Adriana says it has agreed to cooperate with the steel company to bring the Lac Otelnuk iron ore property in Northern Quebec into production, as well as on the investigation and acquisition of iron ore projects in Brazil.
While, Evolving Gold Corp. (TSX: V.EVG, Stock Forum) announced late Thursday afternoon that it is mobilizing a fourth core drill rig at its Rattlesnake Hills property in Wyoming to define the true width and size potential of the high grade gold mineralization. Shares of the company jumped 16% to $1.29 Friday.