On Monday, Bell Copper (TSX: V.BCU, Stock Forum) shares climbed 11% to 21 cents after the micro cap explorer reported that work continues on the previously announced feasibility study at its wholly-owned La Balsa project in Mexico for the mining of low strip-ratio, surface breccia copper resources. This work follows a March 2010 Scoping Study, which projected annual production of 21 million pounds of copper per year over a seven-year mine life, with cash costs of US$0.81/lb and all-in costs (including capital, and the use of the company's previously purchased SX-EW processing plant) of $1.22/lb.
As well, shares of Culane Energy (TSX: V.CLN, Stock Forum) shot up 30% to $2.24 as the oil and gas explorer said it has entered into an agreement whereby Killam Acquisition Company will acquire all of the issued and outstanding common shares of Culane for cash consideration of $2.32 per Culane share, or a total consideration of $78.7 million, including the assumption of $13.8 million of net debt.
In Tuesday trading, Ringbolt Ventures (TSX: V.RBV, Stock Forum) shares jumped 15% to 30 cents after the micro cap miner said it has begun drilling on its Lisbon Valley Potash Project in Utah. The drill plan is to use reverse circulation drilling to the top of salt bed 5 at an approximate depth of 2,800 feet where there is a reported historical assay of 18.5% K2O and then core drill the potash bed.
Pacific Ridge Exploration (TSX: V.PEX, Stock Forum), meanwhile, reported that diamond drilling is now underway on the Pacific Ridge Mariposa Gold Property located in the Yukon's White Gold District. Pacific Ridge stock popped 24% to 36 cents.
Wednesday’s market action saw shares of Goldstone Resources (TSX: T.GRC, Stock Forum) surge 20% to 85 cents after the micro cap explorer reported that Premier Gold Mines (TSX: T.PG, Stock Forum) will acquire, by way of a plan of arrangement, all of the outstanding common shares of Goldstone. Under the arrangement, each Goldstone shareholder will receive 0.16 of a Premier share plus $0.0001 in cash for each Goldstone share held.
Also, shares of Edleun Group (TSX: V.EDU, Stock Forum) gained 29% to $1.19 as the consolidator and developer of child care facilities across Canada announced that for its first quarter ended March 31, 2011, it achieved positive Funds From Operations (FFO) and Adjusted Funds From Operations (AFFO) for the first time in the company's history. Revenue rose 12% from the three months ended December 31, 2010.
On Thursday, St Andrew Goldfields (TSX: T.SAS, Stock Forum) shares powered as much as 13% higher to 90 cents after the gold junior reported additional results from the ongoing definition drilling program at the Taylor Project in the Timmins Mining District in northern Ontario, which included 15.85 grams per tonne (g/t) gold over 21.6 metres.
In addition, shares of Microbix Biosystems (TSX: T.MBX, Stock Forum) moved up 20% to 42 cents as the company announced receipt of a notice from the United States Patent and Trademark Office allowing all claims of its first pending U.S. patent application for LumiSort sperm sexing technology for the livestock industries.
And, in Friday trading, Continental Precious Minerals (TSX: T.CZQ, Stock Forum) shares added 9% at 36 cents as the junior explorer said it has entered into a land lease agreement for an eight hectare property on its MMS Viken licence in Sweden. The total lease cost for the 50-year term is approximately $120,000.
Finally, Western Copper (TSX: T.WRN, Stock Forum), after Thursday’s closing bell, announced that its Board of Directors has unanimously approved a proposal to undertake a spin-out transaction that would reorganize the business and capital structure of the company into three separate public companies to allow Western Copper to focus on the development of its flagship Casino copper/gold/silver/molybdenum project. Western Copper shares rose as much as 9% to $3.09 on Friday.