On Monday, Fission Energy (TSX: V.FIS, Stock Forum) shares climbed 106% higher to 37 cents after the junior explorer reported that it has encountered “significant radioactivity” during its winter Waterbury Lake project drill program in Saskatchewan.
As well, shares of Khan Resources (TSX: T.KRI, Stock Forum) shot up15% to 78 cents after the micro cap miner reported that it has signed a non-binding Memorandum of Understanding (MOU) with MonAtom LLC, the Mongolian state-owned uranium development company. The MOU establishes the principal elements of a joint venture transaction that would finalize the ownership structure surrounding the Dornod uranium project, and creates a framework for developing the project and bringing it into operation as expeditiously as possible.
In Tuesday trading, Tuscany Energy (TSX: V.TUS, Stock Forum) shares jumped 48% to 17 cents on Tuesday after the oil and gas explorer/developer reported that its second horizontal Dina oil well, Tuscany et al Evesham HZ 1A8-21-3B16-16-39-27W3 in Saskatchewan, began production on January 16, 2010. The well is currently producing at a restricted rate of approximately 80 barrels of oil per day with less than a 5% water cut.
International Montoro Resources (TSX: V.IMT, Stock Forum), meanwhile, said it has acquired 1,818.6 hectares (four claims - Chuchinka Property) contiguous to and adjoining Spectrum Mining Corp's recently reported rare earth discovery, located 80 km northeast of Prince George, British Columbia. International Montoro stock popped 25% to 10 cents.
Wednesday’s market action saw shares of Mart Resources (TSX: V.MMT, Stock Forum) surged as much as 17% to 17 cents on Wednesday after the petroleum junior and its partners, Midwestern Oil & Gas Company PLC (Operator) and Suntrust Oil Company Nigeria Limited, announced that the majority of the rental production equipment in use at the Umusadege oil field in Nigeria has been replaced with permanent facilities. The installation of the permanent facilities will result in a net reduction of direct field operating costs of approximately $2.60/barrel based upon average daily production rates for January 2010. Average daily gross production for January 2010 was 3,935 barrels of oil per day (bopd) from the UMU-1 and UMU-5 wells. Of the total production for this period, the UMU-1 well contributed an average of 1,710 bopd and UMU-5 well contributed an average of 2,225 bopd.
Also, Titan Trading Analytics (TSX: V.TTA, Stock Forum) shares moved up38% higher to 22 cents after the software developer announced that Compo Investment Partners LP of New York has opened an institutional FOREX Trading account to be managed by the company's wholly-owned subsidiary, Titan Holdings USA LLC (THU). Under the terms of the forex trading agreement, THU and Compo will equally share the account's profits.
On Thursday, Volta Resources (TSX: T.VTR, Stock Forum) shares powered as much as 22% higher before closing up 10% to 79 cents after the micro cap miner reported results from a four hole scout drilling program recently completed at the Nassara prospect, at its 100% owned Danyoro permit, in Burkina Faso, West Africa, which included intersections of 15 metres of 4.45 grams per tonne (g/t) gold.
In addition, shares of Athabasca Potash (TSX: T.API, Stock Forum) gained 24% to $8.30 as the potash explorer said it has entered into a definitive agreement whereby BHP Billiton will acquire all of the issued and outstanding common shares of Athabasca Potash at a price of $8.35 per share in cash, or a total consideration of approximately $341 million on a fully-diluted basis.
And, in Friday trading, Kivalliq Energy (TSX: V.KIV, Stock Forum) shares climbed 58% to 30 cents on Friday after the micro cap explorer announced that Lumina Capital Limited Partnership, an investment partnership held principally by Vancouver mining entrepreneur Ross Beaty, will subscribe for approximately $500,000 of a total $2 million, non-brokered private placement in Kivalliq. The proceeds from this financing will be used to explore and develop Kivalliq's Lac Cinquante uranium deposit in Nunavut and for general working capital purposes. The financing will consist of 10 million units at a price 20 cents per unit.
Finally, shares of Rutter Inc. (TSX: T.RUT, Stock Forum) shot up 25% to 12.5 cents as the provider of engineering solutions and technologies said it has been awarded contracts valued at US$4.75 million to supply assemblies to General Dynamics Land Systems-Canada for use in Stryker 8x8 vehicles sold to the U.S. Army. The units will be built by Rutter's manufacturing group in St. John's, Newfoundland. Rutter was also awarded additional contracts valued at a total of US$1.25 million for spare parts and related components bringing the total awarded to US$6 million.