On Monday,Greystar Resources (TSX: T.GSL, Stock Forum) shares climbed 21% to $6.40 on Monday after the miner reported that it will initiate two exploration drill programs to investigate both the extensions of “high-grade mineralization” at the Angostura gold-silver deposit and near surface oxide gold mineralization recently discovered at the Mongora prospect in Colombia. Results included 107.6 metres of 6.26 grams per tonne (g/t) gold.
As well, shares of MEGA Brands (TSX: T.MB, Stock Forum) shot up 45% to 70 cents as the maker of construction toys, games & puzzles, arts & crafts and stationery announced the settlement of all outstanding litigation with Lawrence Rosen, Jeffrey Rosen and Sydney Rosen. The Rosens filed suit in 2006 claiming earnout payments and damages relating to the Rose Art acquisition. MEGA Brands countersued claiming the Rosens withheld and misrepresented information about serious defects in the Magnetix product line purchased as part of the transaction.
In Tuesday trading, Rockcliff Resources (TSX: V.RCR, Stock Forum) shares jumped 57% to 34.5 cents on Tuesday after the micro cap explorer reported that drilling on the Rail Zone has intersected copper-gold mineralization on its Snow Lake VMS Project in Manitoba. Hole RL09-37 intersected 4.74 metres of massive sulphides grading 9.02% copper, 3.46 grams per tonne (g/t) gold, 1.62% zinc and 36.5 g/t silver.
Also, shares of Moydow Mines International (TSX: T.MOY, Stock Forum) moved up 120% to 77 cents as the miner said it has entered into an agreement with Franco-Nevada (TSX: T.FNV , Stock Forum), which sets out the basis for Franco-Nevada to acquire the company and its 2% Net Smelter Returns royalty on a portion of Newmont Mining Corporation's Ahafo gold mine in Ghana for total consideration valued at US$58 million. Shareholders of Moydow will receive 0.02863 Franco-Nevada shares for each Moydow share they own.
Wednesday’s market action saw shares of Colonia Energy (TSX: V.CLA, Stock Forum) surged 63% to 24.5 cents on Wednesday after the oil and gas explorer/producer said it has entered into a financing and reorganization agreement that involves the appointment of a new management team, the appointment of a new board of directors, a rights offering to the current shareholders of Colonia, and the contemplation of a financing of up to approximately $7.5 million through one or more non-brokered private placements. The new management team has “a solid track record of creating shareholder value in high-growth, junior oil and gas companies, most recently with Renegade Oil and Gas Ltd.” Renegade Oil grew from 0 to 1,000 boepd entirely through the drill bit predominantly in the Bakken resource play in southeast Saskatchewan, and was recently sold to Glamis Resources Ltd.
In addition , shares of NUCRYST Pharmaceuticals (TSX: T.NCS, Stock Forum) soared 69% to $1.77 as the developer of medical products that fight infection and inflammation using its atomically disordered nanocrystalline silver technology announced the execution of a definitive agreement with subsidiaries of Smith & Nephew plc. for the sale to Smith & Nephew of substantially all of Nucryst's operations and assets including all rights to its proprietary nanocrystalline silver technology for cash consideration of US$21 million plus the value of working capital and subject to certain adjustments. Nucryst also entered into an amalgamation agreement with The Westaim Corporation (TSX: T.WED, Stock Forum), which currently owns approximately 75% of Nucryst's outstanding common shares. Under the amalgamation agreement, Nucryst will amalgamate with a newly-formed subsidiary of Westaim to form Amalco, and Nucryst shareholders other than Westaim will receive one redeemable preferred share in the capital of Amalco, which share will be redeemed for US$1.77 in cash upon the completion of the Amalgamation. Westaim shares climbed 17% to 44 cents on the news.
On Thursday, Hathor Exploration (TSX: V.HAT, Stock Forum) shares powered as much as 14% higher to $2.08 on Thursday after the miner reported U3O8 results from the 2009 summer drill program, including the newly-discovered mineralization located 200 metres away from the current resource estimate, at its 90%-owned Midwest NorthEast property in Saskatchewan, which included an average grade of 12.71% U3O8 over the core-length of 28 metres.
And, Paragon Minerals (TSX: V.PGR, Stock Forum) Thursday said it has entered into an option agreement to acquire a 100% interest in the Gold Star property, consisting of 29 claims, near the community of Savant Lake, Ontario, about 230 kilometres northwest of Thunder Bay. Grab samples from the property have assay up to 276.0 g/t gold. Its shares surged 20% to 12 cents.
And, in Friday trading, Revett Minerals (TSX: T.RVM, Stock Forum) shares climbed 43% to 25 cents on Friday after the micro cap miner announced that it has received final approval from the Montana Department of Environmental Quality on its amended plan of operations to develop the previously identified higher grade "C-Beds" at the Troy Mine. Total production at the Troy mine for the first nine months of 2009 remained consistent, totaling 879,449 ounces of silver and 6.7 million pounds of copper.
Finally, Magellan Aerospace (TSX: T.MAL, Stock Forum), meanwhile, said it has signed an agreement between the Ministry of Energy, Republic of Ghana, and Magellan Aerospace, through the Canadian Commercial Corporation, for the provision of a turnkey electric power generation plant in Ghana. The contract is estimated to generate revenues of US$185 million, and the project will be delivered over a 24-month period by Magellan's Orenda Aerospace operating division in Mississauga, Ontario. Magellan stock popped 72% to $2.08.