On Monday,Avanti Mining (TSX: V.AVT, Stock Forum) shares powered 52% higher to 25 cents after the junior miner reported results of the NI 43-101 Preliminary Feasibility Study on its 100% owned Kitsault Molybdenum property in British Columbia. Highlights included a mine plan, which calls for a total of 215.3 million tonnes of proven and probable reserves grading 0.085% molybdenum to be mined over a 15-year mine life, producing 368 million pounds of molybdenum. Undiscounted net cash flow (after-tax) is projected at $1.56 billion. Avanti is a Ticker Trax planetary prospect that was initiated at 11 cents a share.
As well, shares of Canplats Resources (TSX: V.CPQ, Stock Forum) shot up 38% to $3.51 as the junior explorer announced an agreement whereby Goldcorp (TSX: T.G, Stock Forum) will acquire all of the outstanding common shares of Canplats for total consideration of approximately C$238 million, based on the fully diluted in-the-money shares outstanding. Each Canplat share will be exchanged for 0.074 of a common share of Goldcorp, implying a price of about $3.42 per share based on the closing price of the Goldcorp shares on November 13, 2009. Shareholders will also receive a 90.1% interest in a new exploration company (Newco) with a notional value of 18 cents per share, representing a combined value of approximately $3.60 per share to Canplats' shareholders.
In Tuesday trading, Coronado Resources (TSX: V.CRD , Stock Forum) shares jumped 42% to 34 cents on Tuesday after the micro cap miner reported drill results from its wholly-owned Madison Gold/Copper property near Butte, Montana, which included 45 feet of .741 ounces/ton gold (25.44 grams/tonne).
Also, shares of Resin Systems (TSX: T.RS , Stock Forum) moved up 28% to 34 cents as the manufacturer of advanced composite products for infrastructure markets said it has entered into a distribution agreement with HD Supply Utilities, North America's largest electric utilities distributor. Under the agreement, HD Supply Utilities is appointed as the exclusive distributor of RStandard poles within the United States, Canada, Mexico, Bermuda, the Bahamas and all of the Caribbean Islands. The agreement is for an initial term of five years and may be renewed for additional terms. The agreement includes an initial purchase order for RStandard poles with a value exceeding US$100 million over the first half of the initial term.
Wednesday’s market action saw shares of Petaquilla Minerals (TSX: T.PTQ, Stock Forum) rocket 66% to 37.5 cents after the miner announced that the Government of the Republic of Panama has granted approval for Petaquilla's Molejon gold mine to advance to the commercial production stage. Petraquilla
Seafield Resources (TSX: V.SFF, Stock Forum), meanwhile, said it has signed a letter of intent with privately-owned Caribbean Copper and Gold Corp. (CCGC), whereby Seafield will purchase from CCGC all right, title, and interest in and to certain gold mining claims, options, and land packages located in the Quinchia district of Colombia. The announcement helped lift its shares 10.7% to 15.5 cents.
On Thursday, Noront Resources (TSX: V.NOT, Stock Forum) shares powered 39% higher to $2.08 on Thursday after the explorer reported newly-obtained assay results of completed drill holes from its Eagle's Nest deposit at the McFauld's Lake Property in northern Ontario, which included 22.8 metres averaging 4.41% nickel, 2.38% copper, 28.07 grams per tonne (g/t) platinum, and 7.95 g/t palladium.
In addition, shares of Great Pacific International (TSX: V.GPI, Stock Forum)gained 45% to 14.5 cents as the oil and gas producer/explorer said it recently commissioned a "Heavy Oil in Place Determination Report" from Chapman Petroleum Engineering on four sections of its petroleum and natural gas leases near Manning Alberta. Total heavy oil in place assessed by Chapman on the company's lands for the two most significant potential carbonate reservoir zones in the area, the Elkton and Lower Debolt formations, amounted to 206 million barrels of petroleum initially in place.
And, in Friday trading, Petro Vista Energy (TSX: V.PTV, Stock Forum) shares surged 32% to 25 cents on Friday after the oil and gas explorer reported that it has reached total depth at its Noellia #1 (the first of several planned wells) recently drilled in the Lower Magdalena Valley Basin Colombia, La Maye Block. The well encountered several oil and gas shows and has been cased for future testing. The company holds a 25% participating interest in the block.
Finally, shares of Western Troy Capital Resources (TSX: V.WRY, Stock Forum) added 37% at 41 cents as the junior explorer announced that it has recently made application for 48 claims in the Strange Lake Area of Quebec. A peralkaline, granitic pluton, which is associated with the Strange Lake granitic intrusion, hosts the B-Zone and the Strange Lake Rare Earth deposit.