On Monday,Infinito Gold (TSX: V.IG, Stock Forum) shares climbed 58% to 41 cents on Monday after the micro cap miner reported that on Friday, April 16, 2010, the Constitutional Chamber of the Supreme Court in Costa Rica (SALA IV) ruled that the challenges to the grant of permits allowing development of the company's Crucitas gold project are without merit, ending the suspension of development activity at the project imposed by the SALA IV.
As well, shares of Tawsho Mining (TSX: V.TAW, Stock Forum) shot up 31% to 19 cents as the junior explorer announced the completion of the National Instrument 43-101 Standards of Disclosure for Mineral Projects compliant report on the mineral resource of the Chevrier deposit on its Chevrier Property in Quebec. Based on a numerical modeling, the Chevrier deposit, one of the two mineral deposits of the Chevrier Property, from surface to a depth of 250 metres to contain 4.6 million tonnes of inferred resource at an average grade of 1.99 grams per tonne (g/t) gold using a cut-off of one g/t gold and a minimum width of 1.5 metres for a total of 295,000 ounces.
In Tuesday trading, NEMI Northern Energy & Mining (TSX: T.NNE.A, Stock Forum) shares jumped 15% to 78 cents on Tuesday after the micro cap miner said it has agreed to align its interests with Anglo American to maximize the value for NEMI's shareholders in a proposed sale of the Peace River Coal Limited Partnership (PRC). NEMI believes that a controlled sales process led by Anglo American will maximize the sales price and as such, maximize the value of NEMI's minority interest in PRC. PRC is held as to a 74.83% interest by Anglo American, 12.18% by NEMI, and 12.99% by Hillsborough Resources.
Also, shares of Hodgins Auctioneers (TSX: V.HA, Stock Forum) moved up 27% to 14 cents as the provider of professional auction services announced the signing of an arm's length letter of intent to purchase 100% of the outstanding shares of Bingo Management (BML) for an aggregate purchase price of $520,000, payable through the issuance of 6.5 million common shares in the capital of Hodgins to the shareholders of BML at a deemed issuance price of eight cents per share. BML is a Canadian controlled private corporation holding worldwide distribution rights for a patented internal control and management system for bingo halls.
Wednesday’s market action saw shares of Arian Silver (TSX: V.AGQ, Stock Forum) surged 32% to 18.5 cents on Wednesday after the micro cap explorer reported drill results from its 100% owned San Jose Property in Mexico, which included 2.35 metres of 834 grams per tonne (g/t) silver, 0.36% lead, and 0.67% zinc.
In addition , shares of Points International (TSX: T.PTS, Stock Forum) gained 18% to 55 cents as the reward program management firm said it is raising its 2010 revenue guidance to between US$85 million and US$95 million. The company also reiterated its EBITDA margin guidance range of 3% to 5% and net income profitability for the year.
On Thursday, Orleans Energy (TSX: T.OEX, Stock Forum) shares jumped 16% to $3.07 after the oil and gas producer/explorer announced that it has successfully drilled and completed two (2.0 net) horizontal wells on its new Waskahigan acreage in Alberta. The first horizontal well, located at 12-17-63-23W5M, tested 3.3 million cubic feet per day (mmcf/d) of liquids rich sweet natural gas, or 550 barrels of oil equivalent per day, over a 73-hour extended flow-back period with a flowing well head tubing pressure of 860 pounds per square inch. Orleans holds a 100% working interest in the 12-17 well, which was drilled to a total measure depth of 3,645 metres and completed with an 11-stage fracture stimulation. This well was brought on-stream February 13, 2010.
As well, shares of Asian Television Network International (TSX: V.SAT, Stock Forum) added 21% at 85 cents as the provider of South Asian television programming across Canada announced that its net earnings as at December 31 2009, were $1,203,089 on total revenue of $16,051,522. The company also said its board of directors has approved the payment of a special one-time dividend of a penny a share payable to holders of common shares of record as of May 5, 2010. This dividend will be paid on May 18, 2010.
And, in Friday trading, Gold Bullion Development (TSX: V.GBB, Stock Forum) shares climbed as much as 17% to 42 cents on Friday after micro cap explorer/developer provided an update on its Granada Gold Property in Quebec. A Preliminary Block Model, which excludes the recent discovery in the northeast section of the LONG Bars Zone, has outlined a gold mineralized system at Granada that offers a potential resource of 2.4 to 2.6 million ounces. This figure represents a defined area with a strike length of 600 metres, a width of 500 metres at an angle of 50 degrees from horizontal, and an average true thickness of 70 metres.
Finally, New World Resource (TSX: V.NW, Stock Forum) said it has been clearly informed by the Bolivian Government that pre-existing rights would be respected within the new mining law. The company was also invited to join the Bolivian Government's Scientific Support Committee, which is designed to assist the Bolivian Government in its plan to develop a pilot plant at the Salar de Uyuni, Bolivia's largest lithium resource that is currently part of the country's strategic fiscal reserve. New World stock popped 42% to 32 cents.