On Monday, Bronco Energy (TSX: T.BCF, Stock Forum) shares climbed 18% to 20 cents after the junior oil and gas explorer and developer confirmed it is in talks with potential bidders for the company while it undertakes a strategic review of its operations.
Divestco Inc. (TSX: T.DVT, Stock Forum), meanwhile, said that it has entered into a binding letter of intent to divest of its entire 2D and 3D seismic data library to Pulse Seismic (TSX: T.PSD, Stock Forum). The purchase price for Divestco's seismic data library is $50 million cash plus 14,285,000 Pulse common shares. The Pulse common shares will be distributed by Divestco to its shareholders. Divestco stock popped 15% to 79 cents.
In Tuesday trading, Merc International Minerals (TSX: V.MRD, Stock Forum) shares jumped 46% to 19 cents after the junior posted results of drilling at its Damoti Lake gold project in the Northwest Territories. Highlights from a batch of seven holes included a 16.12 gram gold per tonne intersection over eight metres.
As well, shares of Afri-Can Marine Minerals Corp. (TSX: V.AFA, Stock Forum) rose 21% to nine cents after the company said it now has the foundation to strengthen its development and to achieve its primary goal of developing an production-ready diamond resources at its 70%-owned Block J marine diamond concession in Namibia.
Wednesday’s market action saw shares of Coronado Resources (TSX: V.CRD, Stock Forum) surge as much as 46% to 24 cents after the micro cap miner announced that the diamond drill program on its wholly-owned Madison Gold/Copper property in Montana has intersected 70 feet of .779 ounces/ton gold (26.71 grams/tonne) between 49 and 119 feet.
Also, shares of Lyrtech (TSX: V.LTK, Stock Forum) shot up 113% to 17 cents as the provider of digital signal processing technologies said it has signed an OEM agreement with an undisclosed customer to design, develop and deliver intelligent motion detection modules based on existing Lyrtech intelligent optical sensing (IOS) technology. The contract, expected to span two years, is worth US$28 million.
On Thursday, Tasman Metals (TSX: V.TSM, Stock Forum) shares powered as much as 16% higher to 64 cents after the micro cap explorer reported assay results from a further five drill holes at its 100% owned Norra Karr rare earth element (REE) - zirconium (Zr) project in Sweden, which included 43.7 metres at 0.70% TREO (total rare earth oxide), 1.7% ZrO(2) (zirconium oxide), with 48.3% of the TREO being HREO (heavy rare earth oxide).
In addition, shares of 01 Communique Laboratory (TSX: T.ONE, Stock Forum) moved up 77% to 39 cents as the integrated communications software provider announced that prosecution of the inter partes reexamination of its United States Patent No. 6,928,479 is now closed. The United States Patent and Trademark Office has issued a Right of Appeal Notice concluding that all of the claims in the inter partes re-examination, that were challenged by Citrix Systems, Inc., are patentable.
And, in Friday trading, Donner Metals (TSX: V.DON, Stock Forum) shares climbed 56% to 28 cents after the micro cap miner said it has received notice from Xstrata Canada Corporation - Xstrata Zinc Canada Division that they will immediately begin development of the Bracemac-McLeod deposit in Quebec. Donner has the right to earn an initial 50% interest in the Matagami Project by completing exploration expenditures of $25 million and selecting claims to be included in five joint venture areas by May 31, 2011. Over the past eight months, Xstrata Zinc has conducted a definition drill program focused on the Bracemac-McLeod indicated resources of 3.62 million tonnes grading 11.52% zinc, 1.60% copper, 31.55 grams per tonne (g/t) silver, 0.49 g/t gold.
Finally, shares of Metalex Ventures (TSX: V.MTX, Stock Forum) gained 25% to 55 cents as the junior explorer reported the first macro diamond results from the T1 bulk sample on the Metalex - Arctic Star Diamond (TSX: V.ADD, Stock Forum) joint venture in the James Bay lowlands, Ontario. Hole K06-14 sampled approximately 23 tons of kimberlite and 716 commercial size diamonds larger than 0.425mm and smaller than 3.35mm were recovered.