In Monday’s trading, Tamerlane Ventures Inc. (TSX: V.TAM, Stock Forum) jumped 33% to 24 cents after the junior said it has named hard-nosed mine developer Margaret Kent to the position of executive Chairman. Kent, who was formerly known as Peggy Witte, will lead a management team that will focus on putting the Pine Point lead zinc mine back into production. The project is located about 130 kilometres south of Yellowknife in the Northwest Territories.
AXMIN Inc. (TSX: V.AXM, Stock Forum) was up 31% to 10.5 cents. The company said it can proceed with development of the Passendro gold project after securing a mining license from the government of the Central African Republic. In lieu of any project free-carried interest, AXMIN said the State will receive 26 million common shares of AXMIN and 20 million share purchase warrants with an exercise price of US30 cents for five years. A recent study sees Passendro producing 100,000 ounces of gold annually.
Tuesday’s market action saw Sonoro Energy Ltd. (TSX: V.SNV , Stock Forum) rising 60% to 16 cents on news that Nasser Bin Jarallah has agreed to join the company’s board of directors. Bin Jarallah is an established business leader in the Middle East . He is chief executive officer and vice-president of the Bin Jarallah Group of companies in Saudi Arabia, which has 8,000 people on its payroll and interests in multiple business sectors, including asphalt, oil and gas, petrochemicals and construction. Bin Jarallah has been granted 500,000 stock options, which are exercisable at $0.115 per share over a 5-year term. Based in Calgary, Sonoro is pursuing oil and gas development opportunities in the Middle East.
Kiska Metals Corp. (TSX: V.KSK, Stock Forum) shares rose 1% to 79 cents after Geologic Resource Partners LLC said it has sold 3.6 million shares of Kiska, thereby reducing its holdings in the exploration junior to 22.6 million common shares, and 2.4 million warrants. Assuming conversion of the warrants, this represents 37.5% of the issued shares of Kiska, a decrease of 4.83%. Geologic Resource Partners is an investment advisory firm specializing in precious metals, industrial metals, and energy minerals equities.
On Wednesday,Amarillo Gold Corp. (TSX: V.AGC, Stock Forum) jumped 7% to 72 cents Wednesday. The junior said it has decided to launch a pre-feasibility study after determining that the Posse deposit at its Mara Rosa project in Brazil could be economically viable at gold prices above US$600 an ounce. It said the study would incorporate the results of metallurgical tests which indicate that Posse ore could be treated successfully with recoveries in the order of 85% to 90%. Posse is estimated to contain about 1.1 million ounces of indicated and inferred gold resources.
Sabina Gold & Silver Corp. (TSX: T.SBB, Stock Forum) also rose 7% to $3.36 on news that the junior is upping the exploration budget for its 100%-owned Back River project in Nunavut. The company had previously budgeted $10 million for 20,000 metres of drilling this year. But new discoveries have convinced the company to increase that amount. For example, Sabina said it has identified two gold mineralized zones in the Umwelt Lake area, where drilling highlights include 10.52 grams gold per tonne over 65.5 metres.
On Thursday, Reg Technologies Inc. (TSX: V.RRE, Stock Forum) jumped 9% to 19 cents Thursday after the microcap firm said it won approval to build a prototype diesel engine that the company says has only two unique moving parts and can operate on multiple fuels, including gasoline, natural gas, hydrogen, propane and diesel. The company says it hopes to complete prototype fabrication and start initial testing of the RadMax engine before the end of the year.
Noront Resources Ltd. (TSX: V.NOT, Stock Forum) rose 2% to $1.28 on initial results from regional exploration at the company's McFauld's Lake project in northern Ontario. Noronto said drilling intersected significant intervals of high grade chromite mineralization that is thought to lie along a major geological structure trending north from its Blackbird chromite deposit to its Eagle’s Nest copper, platinum group element deposit. Noront is examining the feasibility of building a mine at the Eagle’s Nest site. It said chromite intersected during recent drilling could be accessed from an underground infrastructure that would be needed to exploit the Eagle’s Nest deposit.
And on Friday trading, Caza Oil & Gas Inc. (TSX: T.CAZ, Stock Forum) shares were up 100% to 34 cents Friday on news of a potentially significant discovery of natural gas and natural gas condensate at the company’s Bongo prospect in Texas. In a progress report on drilling on the O.B. Range #1 well in Wharton County, Caza said hydrocarbon-bearing sands were encountered in a formation between 12,400-12,900 feet. Caza has a 42.24% working interest after completion (approximate net revenue interest 30%) in the well.
Call Genie Inc. (TSX: T.GNE, Stock Forum) rose 14% to 12 cents after the software technology provider said it has completed two separate financings that raised $2.5 million. They included a convertible secured debenture that raised $1.6 million and a closed non-brokered debt facility, in which a number of company insiders participated, raising $875,000. The participants were the Chairman of the Board, the chief executive officer and chief financial officer.