On Monday, Sterling Resources (TSX: V.SLG, Stock Forum) shares climbed as much as 13% to $3.72 after the oil and gas explorer/producer reported successfully drilling a second Cladhan sidetrack well located in Block 210/29a in the United Kingdom North Sea, approximately 225 miles northeast of Aberdeen, Scotland, in a water depth of 536 feet. The well has encountered in excess of 60 feet vertical thickness of net hydrocarbon bearing sandstones. Preliminary analysis indicates good quality sand with an average porosity of 20% and most importantly, the well has not encountered an oil water contact at this downdip location.
As well, shares of Parkbridge Lifestyle Communities (TSX: T.PRK, Stock Forum) shot up 30% to $7.27 as the owner, operator, and developer of land lease residential communities and seasonal recreational resorts said British Columbia Investment Management Corporation and its wholly-owned subsidiary, 1561609 Alberta Ltd. (bcIMC) will acquire all of the issued and outstanding common shares of Parkbridge by way of a plan of arrangement under the Business Corporations Act (Alberta) for consideration of $7.30 per common share in cash, or a total consideration of approximately $790 million including net debt.
In Tuesday trading, Northern Abitibi Mining (TSX: V.NAI , Stock Forum) shares jumped 29% to 20 cents after the micro cap explorer reported assay results for drill holes 86 and 87 from its ongoing drill program at the Viking gold property in Newfoundland, which included 124.8 grams per tonne (g/t) gold over 0.5 metres and 0.7 g/t gold over 65.8 metres.
Also, shares of ARISE Technologies (TSX: T.APV, Stock Forum) moved up 15% to 23.5 cents as the solar technology provider announced that the preliminary unaudited results indicate that revenue for Q3 2010 is expected to total approximately $23.0 million, a 249% increase from $6.6 million in Q3 2009.
Wednesday’s market action saw shares of Alexco Resource (TSX: T.AXR, Stock Forum) surge 26% to $6.16 after the miner reported additional results from its 2010 core drilling program at the Keno Hill Silver District in the Yukon, which included 1,518.6 grams per tonne (g/t) silver, 1.003 g/t gold, 17.93% lead and 3.15% zinc over 10.42 meters.
In addition, shares of Crocodile Gold (TSX: T.CRK, Stock Forum) gained 29% to $1.51 as the junior miner said it poured a record of 10,024 ounces of gold in September 2010 and remains on track to produce 85,000 ounces of gold in 2010. Production for the month of September was 9,789 ounces and production during the quarter ended September 30th totaled 26,138 ounces. Year to date production totaled 59,443 ounces.
On Thursday, Minera Andes (TSX: T.MAI, Stock Forum) shares powered 16% higher to $2.04 after the miner reported the discovery of nine new gold/silver veins plus extensions of two other veins, which together total more than five kilometres in strike length at the San Jose Mine in Argentina.
As well, shares of Genoil (TSX: V.GNO, Stock Forum) rose 39% to 19.5 cents as the petroleum technology company announced the formation of a new corporation in the Middle East with S.B.K. Holdings in the United Arab Emirates. The corporation is named "Genoil Emirates." The purpose of this new corporation is to create projects in the U.A.E. for all of Genoil's technologies, including; desulfurization, oil upgrading and recycling, water purification port technologies, well testing, and sand cleaning.
And, in Friday trading, Abcourt Mines (TSX: V.ABI, Stock Forum) shares climbed 13% to 17.5 cents after the micro cap explorer reported results from surface diamond drilling at the east end of the Elder Gold Property in Quebec, which included 2.37 metres of 8.24 grams per tonne (g/t) gold.
Finally, shares of SLAM Exploration (TSX: V.SXL, Stock Forum) added 27% at 26 cents as the junior miner announced additional indications of widespread sulphide mineralization at its Silverjack property in New Brunswick. This initial stage of trenching is testing an area of soil and magnetic anomalies roughly 1,000 metres south of the Silverjack deposit. Trench TR10-01 uncovered four mineralized zones ranging from two metres to five metres wide.