On Monday, Acadian Mining (TSX: T.ADA, Stock Forum) shares climbed 29% to 35.5 cents after the micro cap explorer reported drilling results from the first four holes of the program underway at its wholly-owned Fifteen Mile Stream gold project in Nova Scotia, which included 2.81 grams per tonne (g/t) gold over 72.9 metres.
As well, shares of Grayd Resource (TSX: V.GYD, Stock Forum) shot up 41% to $2.75 as the junior miner said it has entered into an acquisition agreement pursuant to which Agnico-Eagle Mines (TSX: T.AEM, Stock Forum) has offered to acquire all of the outstanding common shares of Grayd at $2.80 per share by way of a take-over bid. The transaction is valued at approximately $275 million on a fully-diluted basis.
In Tuesday trading, Carpathian Gold (TSX: T.CPN, Stock Forum) shares jumped as much as 10% to 76 cents after the gold junior announced further results from the 35,000 metre 2011 diamond drill program at its 100% owned Rovina Valley Project in Romania, which included 438 metres at 0.83 grams per tonne (g/t) gold and 0.19% copper (1.23 g/t gold equivalent).
Also, shares of Lakeland Resources (TSX: V.LK, Stock Forum) moved up 29% to 15.5 cents as the junior explorer reported the discovery of a new gold occurrence on its 100%-owned Midas Gold Property near Wawa, Ontario, which returned grab sample values ranging from 2 g/t gold to 130 g/t gold.
Wednesday’s market action saw shares of Manitok Energy (TSX: V.MEI, Stock Forum) surge 23% to $1.64 after the oil and gas explorer/developer, jointly with Petrus Resources, announced that it has entered into a purchase and sale agreement to acquire oil and natural gas assets in the central Alberta foothills area for total cash consideration of $85 million before closing adjustments and related costs. Each company will participate with an equal 50% interest in the assets. The current production associated with the assets is approximately 2,600 boe/d and about 45% of the production is operated.
In addition, shares of MedX Health (TSX: V.MDX, Stock Forum) soared 400% to 12.5 cents as the provider of low level laser light therapy and light imaging systems reported that MoleMate is FDA approved and now available for sale in the United States. MoleMate uses a hand-held device designed for office use that utilizes light to view beneath suspicious moles in a pain free, non-invasive manner.
On Thursday, Keegan Resources (TSX: T.KGN, Stock Forum) shares sank 27% to $6.36 after the gold junior announced results of the pre-feasibility study for its Esaase Gold Project in Ghana. Highlights included 2.6 million ounces of gold produced over a 10.2 year mine life, with a $639 million after-tax net present value discounted at 5% and an internal rate of return of 32% (100% equity basis at $1,500/oz gold revenue applied to a $1,150/oz gold pit shell).
As well, shares of Zarlink Semiconductor (TSX: T.ZL, Stock Forum) gained 14% to $3.94 as the provider of mixed-signal chip technologies reported that it has entered into a support agreement pursuant to which Microsemi Corporation (NASDAQ: MSCC, Stock Forum) will amend its existing offers to increase the price offered for all of the issued and outstanding common shares and 6% unsecured, subordinated convertible debentures maturing September 30, 2012, of Zarlink by 19% to $3.98 per share in cash and $1,624.49 in cash per $1,000 principal amount of debentures plus accrued and unpaid interest to the date debentures are taken up.
And, in Friday trading, Helio Resource (TSX: V.HRC, Stock Forum) shares climbed 17% to 35 cents after the junior explorer late Thursday reported the discovery of a new zone of bedrock gold mineralization at the Chura target, SMP Gold Project, in south-western Tanzania. The company said the zone appears to be at least 1km long.