On Monday, Canaco Resources (TSX: V.CAN, Stock Forum) shares climbed 16% to $1.08 after the junior miner reported new results, which included 37 metres of 12.45 grams per tonne (g/t) gold from its Handeni Gold Project in Tanzania.
As well, shares of Monterey Exploration (TSX: T.MXL, Stock Forum) shot up 81% to $7.74 as Pengrowth Corporation, administrator of Pengrowth Energy Trust (TSX: T.PGF.UN, Stock Forum), said it has entered into an arrangement agreement pursuant to which it will acquire all of the issued and outstanding common shares of Monterey it doesn’t presently own. Under the terms of the arrangement, each Monterey shareholder may elect to receive either: (i) 0.8298 of a Pengrowth trust unit; or (ii) 0.8298 of an exchangeable share of Pengrowth Corp., with each exchangeable share being exchangeable for one Pengrowth trust unit. The purchase price is equivalent to approximately $8.30 per common share of Monterey based on the 10-day volume weighted average price of $10 per Pengrowth unit.
In Tuesday trading, Silver Quest Resources (TSX: V.SQI, Stock Forum) shares jumped 16% to 52 cents after the micro cap miner said three new geochemical soil anomalies have been discovered using an X-Ray Fluorescence analyzer in combination with mechanical trenching at the Boulevard gold project in the Yukon Territory. The new anomalies are parallel, geochemically distinct and trend northwesterly. Silver Quest also announced the staking of approximately 1,900 new claims in the Dawson Range.
Also, shares of Lakeside Steel (TSX: V.LS, Stock Forum) moved up 17% to 37.5 cents as the diversified steel pipe and tubing manufacturer reported that first-quarter preliminary numbers suggest shipments of 53,719 tons, which represents a 268% improvement over Q1, 2010, as well as a 35% improvement over Q4 2010. These shipments would also represent a new quarterly shipping record for the company.
Wednesday’s market action saw shares of Orvana Minerals (TSX: T.ORV, Stock Forum) surge 14% to $1.40 after the miner reported the completion of a 43-101-compliant reserve statement and cash-flow model for the El Valle-Boinas/Carles gold project in Spain, which suggests a seven-year mine production schedule generating approximately 100,000 ounces of gold per year and yielding an IRR of 48%, an NPV (5%) of $91.1 million, and a payback of 2.16 years (capital cost divided by average annual cash flow from operations), using metal prices of $800 per ounce gold, $12.50 per ounce silver, and $2 per pound copper.
In addition, shares of Apogee Minerals (TSX: V.APE, Stock Forum) gained as much as 54% to 10 cents as the junior explorer announced assay results from six diamond drill holes from the ongoing drill campaign at the Pulacayo deposit in Bolivia, which included 40.0 meters grading 332.01 grams per tonne (g/t) silver, 0.86% lead, and 1.33% zinc.
On Thursday, Appleton Exploration (TSX: V.AEX, Stock Forum) shares powered as much as 26% higher to 12 cents after the micro cap explorer announced results from a further 13 reverse circulation (RC) holes focused on the southern segment of the Dialafara Prospect on the Manalo Gold Project in Mali, West Africa, which included 61 metres of 1.45 grams per tonne (g/t) gold.
As well, shares of Terrane Metals (TSX: V.TRX, Stock Forum) rose 16% to $1.36 as the miner said it has entered into a definitive agreement pursuant to which Thompson Creek Metals (TSX: T.TCM, Stock Forum) will acquire all of the issued and outstanding equity of Terrane. Under the arrangement, holders of Terrane shares will receive 90 cents in cash and 0.052 Thompson Creek common shares per Terrane share. The consideration implies an offer value of $1.41 per Terrane share based on Thompson Creek's closing price on the Toronto Stock Exchange of $9.90 per share on July 14, 2010, or a total consideration of approximately $650 million.
And, in Friday trading, Golden Queen Mining (TSX: T.GQM, Stock Forum) shares climbed 10% to $1.47 on Friday after the gold miner reported that on July 14, 2010, the Lahontan Regional Water Quality Control Board unanimously approved Waste Discharge Requirements and a Monitoring and Reporting Program for Golden Queen’s Soledad Mountain Project in California.
Finally, shares of Tekmira Pharmaceuticals (TSX: T.TKM , Stock Forum) shot up 38% to $1.85 as the biopharmaceutical company said it has been awarded a new contract with the United States Department of Defense Chemical and Biological Defense Program through the U.S. Army Space and Missile Defense Command, to advance an RNAi therapeutic utilizing Tekmira's lipid nanoparticle technology, SNALP (stable nucleic acid-lipid particle), to treat Ebola virus infection. Based on the contract budget, this would provide Tekmira with a total of up to US$140 million in funding for the entire program.