On Monday, Canadian Orebodies Inc. (TSX: V.CO, Stock Forum)climbed 70% to 31.5 cents after the company said it has entered into a non-arm’s length agreement to acquire a 100 per cent interest in the Haig Inlet Iron Ore project in the Canadian Nunavut. The company said the property was drilled in the 1950s and the vendors will hang onto a 3% gross overriding royalty, of which one third can be acquired by Orebodies for up to $3 million.
As well, shares of Passport Potash Inc. (TSX: V.PPI, Stock Forum) added 9% at $1.04 as the potash junior said it has reached an exploration milestone at the Twin Buttes Ranch property in Arizona’s Holbrook Basin, where a portion of the seismic survey and three new drill holes have been completed. The company said it has applied for additional prospecting permits on the southwestern portion of the Holbrook Basin, which is known to contain a 600-quare-mile potash bed.
In Tuesday trading, Canadian Arrow Mines (TSX: V.CRO, Stock Forum) jumped 46% to 11 cents on news that the junior has discovered a new nickel sulphide lens at its Kelex nickel project south of Iroquois Falls, Ont. Drill hole 2011-15 intersected 5.01% nickel over one metre, making it the second hole to intersect the discovery. The new massive sulphide lens is the sixth to be discovered on the property to date.
Also, shares of Mindoro Resources (TSX: V.MIO, Stock Forum) moved up 12% to 27 cents after the company tabled drill results from the Surigao nickel district of north east Mindanao in the Philippines. The latest results are from the Bolobolo and Karihatag targets. They include a 15.4-metre section averaging 1.01% nickel. The company has also picked up a permit application for ground in an area adjacent to its Tapian project.
Wednesday’s market action saw shares of Latin American Minerals (TSX: V.LAT, Stock Forum) surge 17% to 35 cents after the company said it has signed a non-binding letter of intent that would allow Olivut Resources Ltd. (TSX: V.OLV, Stock Forum) to become a joint venture partner at Latin American’s 100%-owned Itapoty diamond project in Paraguay. A definitive agreement would permit Olivut to earn a 50% interest in the project in return for $1 million in expenditures over an 18-month period.
In addition, shares of Intertainment Media (TSX: V.INT, Stock Forum) gained 17% to 55 centsas the company said its social media platform Ortsbo.com has developed a new application for the online entertainment, dating, and gaming industry. It allows users to instantly translate chat with other participants in any of over 50 languages in real time, thus breaking down barriers in the Massive Multiplayer Online Role-Playing Games (MMORPG).
On Thursday, Batero Gold (TSX: V.BAT, Stock Forum) powered 34% higher to $3.92 on drill results from the company’s 100%-owned Batero-Quinchia project in Columbia. Highlights include what the company described as the most significant intercept to date. Drill Hole 8 returned 591.50 metres grading 0.72 grams gold per tonne and 0.13% copper. With four rigs in operation, the company wants to define the mineralized extent of porphyry bodies found in 2006.
As well, shares of Copper Fox Metals (TSX: V.CUU, Stock Forum) shot up 24% to $1.29 after the junior said it intends to complete a non-brokererd private placement, raising $3.75 million in flow-through funds. Subject to regulatory approval, proceeds will be used to finance a resource estimate and feasibility study at the Schaft Creek polymetallic deposit in northwestern British Columbia, north of Smithers.
And, in Friday trading, Torque Energy (TSX: V.TQE, Stock Forum) shares climbed 15% to 30 cents after the oil and gas explorer reported the receipt of its first milestone payment in the amount of $527,450 from Union Gas pursuant to the definitive Asset Purchase Agreement for the Dover East field natural gas storage reservoir previously announced on June 21, 2010.
Finally, shares of The Medipattern Corporation (TSX: V.MKI, Stock Forum) soared 125% to 63 cents as the medical imaging software solutions provider said it has received U.S. Food and Drug Administration (FDA) 510(k) clearance for its Visualize:Vascular product. Visualize:Vascular is designed to quantify image data; segmenting and measuring regions of interest in vessels. The product is now available for sale in the United States and first shipments are anticipated in the second quarter of this calendar year.