On Monday,Comaplex Minerals (TSX: T.CMF, Stock Forum) shares climbed 24% to $9.90 on Monday after the miner reported that Agnico-Eagle Mines (TSX: T.AEM, Stock Forum) will acquire all of the shares of Comaplex that it does not already own. Under the terms of the transaction, each shareholder of Comaplex will receive 0.1576 of an Agnico-Eagle share per Comaplex share. Additionally, at closing, each Comaplex shareholder other than Agnico-Eagle and Perfora Investments S.a.r.l. will receive one common share of a newly formed, wholly-owned, subsidiary of Comaplex in respect of each Comaplex share. The total value of the consideration received by Comaplex shareholders, other than Agnico-Eagle and Perfora, is estimated to be $10.32 per Comaplex share.
As well, Æterna Zentaris (TSX: T.AEZ, Stock Forum) shot up 20% to 96 cents as the late-stage drug development company specialized in oncology and endocrine therapy announced that its partner, Keryx Biopharmaceuticals (NASDAQ: KERX, Stock Forum), was granted Fast Track designation by the U.S. Food and Drug Administration for perifosine (KRX-0401), the company's oral anti-cancer agent that inhibits the phosphoinositide 3-kinase (PI3K)/Akt pathway for the treatment of refractory advanced colorectal cancer.
In Tuesday trading, Gold Canyon Resources (TSX: V.GCU, Stock Forum) shares jumped 61% to 45 cents on Tuesday after the micro cap explorer reported results for the first two drill holes of its Winter Drill Program 2010 at its 100% controlled Springpole Gold Project located in the Red Lake Mining District of Ontario, which included 3.30 grams per tonne (g/t) gold over 64.0 meters.
Also, shares of Melkior Resources (TSX: V.MKR, Stock Forum) moved up 23% to 27 cents as the junior miner provided an update on the ongoing 20,000 metre diamond drill program on its 100% owned Carscallen Gold property near Timmins, Ontario, which included 2.50 metres of 5.84 g/t gold.
Wednesday’s market action saw shares of Quest Uranium (TSX: V.QUC , Stock Forum) surged 10% to $3.85 on Wednesday after the miner reported a new National Instrument 43-101 compliant resource estimate for its B-Zone rare earth deposit within the Strange lake project in Quebec. An Inferred Resource Estimate for the deposit was determined using cut-off grades of 0.7%, 0.8%, 0.85%, 0.9%, 1.0%, 1.1% and 1.2% Total Rare Earth Oxides (TREO) and an average specific gravity of 2.72 g/cc. Using a base-case cut-off grade of 0.85%, the B-Zone hosts an Inferred Resource of 114.8 million tonnes grading nearly 1.0% TREO, 1.973% zirconium oxide, 0.208% niobium pentoxide, 0.053% hafnium oxide and 0.082% beryllium oxide. Heavy rare earths represent between 43% and 51% of the TREO in the deposit. The resources estimate indicates the deposit has potential of hosting an economic mineral resource, which warrants further investigation and development.
In addition , shares of ALDA Pharmaceuticals (TSX: V.APH , Stock Forum) gained 115% to 35.5 cents as the developer of infection-control therapeutics announced that a "NDC" (National Drug Code) Labeller Code has been assigned to the company by the U.S. Food and Drug Administration (FDA). The NDC number allows the company to sell OTC monograph products in the United States.
On Thursday, Mountain Lake Resources (TSX: V.MOA, Stock Forum) shares powered 54% higher to 45.5 cents on Thursday after the micro cap explorer reported intersections of gold mineralization in the latest analytical results from the 33-hole drill program recently completed at the Leprechaun Deposit area of the Valentine Lake Gold Project in Newfoundland, which included 6.79 grams per tonne (g/t) gold over a true width of 25 metres. Marathon PGM (TSX: T.MAR, Stock Forum) is the operator of the project under the sub-option and joint venture agreement in which it can earn a 50% interest in the property. Mountain Lake currently owns a 30% interest in the Valentine and has an exclusive option to purchase the remaining 70% interest from Richmont Mines. Marathon PGM shares shot up 24% to $1.65.
As well, shares of Indigo Exploration (TSX: V.IXI, Stock Forum) added 40% at 21 cents as the junior explorer said it has entered into a non-binding Letter of Intent (LOI) to acquire all of the issued and outstanding shares of Sanu Resources Burkina Faso SARL, an indirectly-owned subsidiary of NGEx Resources (TSX: V.NGQ, Stock Forum). The primary assets of Sanu Burkina consist of four gold mineral exploration permits in the Republic of Burkina Faso, West Africa. The consideration for the acquisition is $65,000 and three million common shares of Indigo at a deemed price of 15 cents per share, of which $30,000 was paid on signing of the LOI.
And, in Friday trading,East Asia Minerals (TSX: V.EAS, Stock Forum) shares climbed 20% to $7.56 on Friday after the gold miner reported that drilling has extended the Miwah Main Zone towards Moon River at the Miwah Gold Project in Aceh Province, Northern Sumatra, Indonesia, which encountered 3.96 grams per tonne (g/t) gold over 111 metres, including 15.74 g/t gold over 22 metres.
Finally, shares of Golden Queen Mining (TSX: T.GQM, Stock Forum) shot up 26% to $1.20 as the junior miner announced that on April 8, 2010, the Kern County Planning Commission formally considered the company's Soledad Mountain gold/silver project in southern California following a review and comment period for the Supplemental Environmental Impact Report (SEIR), and unanimously approved the project. The project remains subject to Golden Queen addressing various outstanding items that the company is reviewing associated with the Conditional Use Permit.