On Monday, Allana Potash (TSX: V.AAA, Stock Forum) shares climbed 22% to $1.15 after the potash junior reported that drill hole DK-10-08, located in the southwestern section of Allana's property in Ethiopia, intersected 31.6% KCl over two metres, and 22.1% KCl over 7.5 metres in two distinct intersections at shallow depths beginning at approximately 164 metres. The upper interval occurs within a thicker potash sequence that returned 24.6% KCl over 4.1 metres.
As well, shares of Electrovaya (TSX: T.EFL, Stock Forum) added 16% at $2.15 as the developer of the Lithium Ion SuperPolymer batteries said it has been selected by a major U.S. utility to provide a 1.5MWh capacity Lithium Ion SuperPolymer Battery Energy Storage System for grid storage applications.
In Tuesday trading, Nautilus Minerals (TSX: T.NUS, Stock Forum) shares jumped 14% to $3.25 after the underwater miner said gold grades of up to 20.8 grams per tonne (g/t) and copper grades of up to 37.7% have been confirmed in assay results from seafloor drilling at the Solwara 1 project in the Bismarck Sea in Papua New Guinea.
Also, shares of Open Range Energy(TSX: T.ONR, Stock Forum) shot up 18% to $2.35 as the energy firm provided an update on its wholly-owned business unit, Poseidon Concepts, which generated EBITDA and cash flow from operations estimated at $4.9 million in the seven months ended December 31, 2010. Open Range is expecting the Poseidon Concepts business unit to generate cash flow from operations and EBITDA of approximately $3.3 million for the fourth quarter of 2010, compared to $1.3 million in the third quarter of 2010, representing a more than 150% quarter-over-quarter increase.
Wednesday’s market action saw shares of Meadow Bay Capital (TSX: V.MAY, Stock Forum) surge 22% to $1.45 after the micro cap explorer reported that it has filed a Technical Report on the Atlanta Gold Mine in Nevada, which indicates the Atlanta Mine produced 1.5 million tons of ore containing 0.09 ounces gold/ton and 1.25 ounces silver/ton and recovered 121,000 ounces of gold and 800,000 ounces of silver during the period 1975 to 1985 based on historic production records. The remaining indicated resource of 338,520 ounces gold (6.21 million tons grading 0.054 oz/ton Au) and inferred resource of 125,960 ounces of gold (3.07 million tons grading 0.041 oz/ton Au) and indicated resource of 3.1 ounces of silver (6.21 million tons grading 0.506 oz/ton Ag) and an inferred resource of 0.7 million ounces of silver (3.07 million tons grading 0.236 oz/ton Ag) has been estimated by previous workers, which is not compliant with standards as set out in National Instrument 43-101.
In addition, shares of Running Fox Resources (TSX: V.RUN, Stock Forum) moved up 30% to 15 cents as the junior miner said it has entered into an agreement, subject to regulatory acceptance, to acquire the remaining 50% of the Brett Gold Project in British Columbia from Mosquito Consolidated Gold Mines (MSQ). Key terms include $1 million cash and three million common shares, with a closing date of 30 days after regulatory acceptance, and MSQ has reserved a sliding scale net smelter royalty of between 2% to 8%, tied to the price of gold.
On Thursday, Thundermin Resources (TSX: T.THR, Stock Forum) shares powered 19% higher to 22 cents after the micro cap miner and 50% joint venture partner Cornerstone Resources (TSX: V.CGP, Stock Forum) reported that drilling has recommenced on the Little Deer Copper Deposit in Newfoundland with two drill rigs. Assay results for two of three holes completed before year end were released on January 20, 2011, which included 4.6% copper over a core length of 4.2 metres. Cornerstone shares climbed 13% to 48 cents.
As well, shares of Intertainment Media (TSX: V.INT, Stock Forum) gained 68% to 18.5 cents as the provider of technology and marketing solutions announced that the growth of its social media, real time, translation platform, Ortsbo.com, continues to outpace the first year growth of Facebook. On a weekly basis it has more than 1.1 million unique users, 1.5 million online sessions and almost six million minutes of user engagement.
And, in Friday trading, Great Pacific International (TSX: V.GPI, Stock Forum) shares climbed 32% to 16.5 cents after the oil and gas explorer/developer reported that it has signed a letter of intent with Amco Energy Ltd. to buy into up to two development wells in the Wildmere area of Alberta. Under the agreement, GPI will earn a 70% interest in the first well upon paying 100% of the costs to drill and complete the well, with an option to participate in a second planned development well. Upon participating in the second well, GPI will have earned a 70% interest in the petroleum and natural gas rights on the property. The wells have been permitted and drilling is expected to begin shortly. Amco will be designated as the operator of the property. The drilling and completion costs on the first well are estimated to be about $550,000.
Finally, shares of WPC Resources (TSX: V.WPQ, Stock Forum) added 19% at 16 cents as the gold junior said it has entered into two separate option agreements with Genesis Gold Corp., to acquire a 100% interest in a total of 215 mineral claims located in Lander County, Nevada.