On Monday, Pacific North West Capital Corp. (TSX: T.PFN, Stock Forum) rose 7% to 30 cents after the company said it has granted Next Gen Metals Inc. (TSX: V.N, Stock Forum) an option to acquire the company’s 60% earn-in option interest in the Destiny gold project in the Abitibi-Temiscamingue region of Quebec. The option was granted to PFN by Alto Ventures Ltd. (TSX: V.ATV, Stock Forum). Subject to regulatory and shareholder approval, PFN will receive $675,000 in cash, 15 million Next Gen shares and four million warrants of Next Gen.
Meanwhile, Volta Resources Inc. (TSX: T.VTR, Stock Forum) was up 3% to $1.70 after the company said it has filed an updated NI 43-101 compliant technical report entitled “Updated mineral resource estimate of Kiaka gold project, Burkina Faso, [West Africa].’’ Volta said it is on track to complete a feasibility study next year for the Kiaka project, which is thought to contain three million ounces of measured and indicated gold resources and an inferred resource of 1.26 million ounces. This resource is contained within a single open pit to a vertical depth of 425 metres, the company said.
In Tuesday trading, VMS Ventures (TSX: V.VMS, Stock Forum) shares climbed as much as 16% to 46.5 cents after the micro cap explorer reported follow-up results from the new copper zone discovery on its Super Zone property located 1.8 kilometres northeast of the Reed Copper deposit in Manitoba, which included 5.94% copper over 2.23 metres.
As well, shares of Cadillac Ventures (TSX: V.CDC, Stock Forum) moved up 13% to 21.5 cents as the junior miner announced results of a further two holes drilled on the K1-1 deposit located three kilometres east of the Thierry Mine deposit outside of Pickle Lake, Ontario, which included a weighted average of 0.27% copper over 610 feet.
Wednesday’s market action saw shares of Kaminak Gold (TSX: V.KAM, Stock Forum) jump 17% to $4 after the gold junior reported assay results from 11 diamond drill holes from the Double Double zone on its Coffee Gold property in the Yukon, which included 74.9 grams per tonne (g/t) gold over four metres.
Also, shares of Condor Petroleum (TSX: T.CPI, Stock Forum) shot up 26% to 87 cents as the oil and gas producer/explorer announced that its Eibety-1 exploration well in Kazakhstan's Pre-Caspian basin has reached a total depth of 1,000 meters and has encountered eight meters of net oil pay in the Triassic zone.
On Thursday, Cartier Resources (TSX: V.ECR , Stock Forum) shares surged as much as 21% to 40 cents after the micro cap explorer reported new results from channel samples that returned 3.03% copper, 1.63% zinc and 83.57 grams per tonne (g/t) silver over 10.0 meters on the Cadillac Extension project in the Quebec.
In addition, shares of Augen Gold (TSX: V.GLD, Stock Forum) moved up 15% to 37.5 cents as the gold junior said it can confirm that Trelawney approached Augen Gold, at a meeting arranged by a shareholder on August 5, 2011, with a proposed offer to materially increase the consideration payable to Augen Gold shareholders. Trelawney confirmed that it provided Augen Gold’s CEO with written confirmation on a confidential basis that it was prepared to increase the implied value of the offer provided certain conditions were met, including the execution and delivery of a definitive support agreement and the completion of satisfactory due diligence. Following subsequent conversations Trelawney said its attempts to resolve this impasse were unsuccessful.
And, in Friday trading, Avnel Gold Mining (TSX: T.AVK, Stock Forum) shares powered 21% higher to 52 cents after the gold producer recorded a second-quarter net loss of $193,000, compared with a net loss of $1,718,000 in the comparative period in 2010.
Finally, shares of Sonde Resources (TSX: T.SOQ, Stock Forum) gained 14% to $2.70 as oil and gas producer/explorer said in late June the Sonde 3-4 well was completed with 12 stages of gelled propane. The well came online flowing at an initial seven-day average rate of 414 bbl oil/day and 0.6 MMcf gas/day (514 Boe/day) and it continued to flow unassisted for the next 30 days at rates averaging 192 Boe/d.