On Monday, Banks Island Gold (TSX: V.BOZ, Stock Forum) shares climbed 42% to 47 cents after the micro cap miner reported that it has received assay results for eight diamond drill holes completed at the Tel Zone in British Columbia in October 2011, which included 19 grams per tonne (g/t) gold over 2.2 metres.
As well, shares of Imaflex (TSX: V.IFX.A, Stock Forum) shot up 25% to 25 cents as the manufacturer and seller of polyethylene films for packaging said third-quarter consolidated net income increased by $916,000 to $82,000, compared with a net loss of $ - 834,000 for the same period in 2010.
In Tuesday trading, Southern Silver Exploration (TSX: V.SSV, Stock Forum) shares jumped 22% to 14 cents after the micro cap explorer reported assays results from core drilling on the Blind Zone at its Cerro Las Minitas project in Mexico, which included 11.5 metres of 140 grams per tonne (g/t) silver, 0.2% copper, 4.9% lead, and 4.1% zinc.
Also, shares of Magnotta Winery (TSX: T.MGN, Stock Forum) moved up 54% to $2.81 as the company said it has been advised by Magnotta Family Holdings Ltd., a corporation controlled by members of the Magnotta family, that it has proposed a going-private transaction to acquire all of the outstanding common shares of the company other than shares held by the Magnottas at a price of $2.90 per share.
Wednesday’s market action saw shares of Decade Resources (TSX: V.DEC, Stock Forum) surge as much as 13% to 13 cents after the micro cap explorer reported assay results for a further eight drill holes on the Upper Montrose zone at its Red Cliff project in British Columbia, which included 18.01 grams per tonne (g/t) gold over 14.18 metres.
In addition, shares of ProMetic Life Sciences (TSX: T.PLI, Stock Forum) gained 36% to 15 cents as the biopharmaceutical company announced that it has received, as expected, confirmation from Octapharma of the regulatory approval of OctaplasLG for additional European Union countries. ProMetic's prion capture resin PrioClear is incorporated into Octapharma's manufacturing process for its solvent/detergent treated, prion-reduced, plasma product, OctaplasLG. ProMetic recently received a purchase order and binding forecast from Octapharma for approximately $3 million of PrioClear resin to be manufactured between December 2011 and June 2012 with further binding forecasts anticipated for the second half 2012.
On Thursday, Armistice Resources (TSX: T.AZ, Stock Forum) shares powered 55% higher to 24 cents after the micro cap miner said it expects to begin gold ore production within the next month from its McGarry Mine in the Kirkland Lake area of northeastern Ontario. "Our initial target production rate is 25,000 ounces of gold per year in 2012, increasing to a rate of 40,000 ounces in 2013 at cash costs of $600 to $650 per ounce produced," said Armistice President and CEO Todd J. Morgan.
As well, shares of Yangarra Resources (TSX: V.YGR, Stock Forum) added 12% at 64 cents as the oil and gas producer/explorer reported average daily production in its third quarter was 1,253 boe/d (45% oil and NGL's), which is a 29% increase from the second quarter. Oil and gas sales during quarter were $5.4 million with cash flow from operations of $5.0 million, or four cents a share (basic), a 20% and 53% increase from the second quarter of 2011, respectively.
And, in Friday trading, shares of Talon Metals (TSX: T.TLO, Stock Forum) continued to move higher, up 6% to 53 cents. Talon shares gained 19% on Thursday after the micro cap miner announced an inferred mineral resource estimate for Target Areas 4, 5 and 6 at its 100% owned Trairão Iron Project in Brazil, which is estimated at approximately 103 million tonnes at an average grade of approximately 29% iron (25% iron cut-off).