On Monday, North American stock markets were closed for the New Year’s Day holiday.
In Tuesday trading, Vero Energy (TSX: T.VRO, Stock Forum) shares climbed 27% to $2.65 after the oil and gas producer/explorer said it has entered into an asset purchase and sale agreement for the divestiture of certain natural gas assets of the company to a private oil and gas company for gross proceeds of $209 million. It is anticipated that Vero will convene a meeting of Vero shareholders in the next 60 days to approve the proposed cash distribution, representing approximately 30 cents per outstanding Vero share on a non-diluted basis.
As well, shares of Isotechnika Pharma (TSX: T.ISA, Stock Forum) added 13% at 13.5 cents as the biopharmaceutical company announced that it has signed a Global Development and Commercialization License agreement with Vifor Pharma, granting Vifor an exclusive license for Isotechnika's lead drug, voclosporin, for the treatment of lupus and all proteinuric nephrology indications.
Wednesday’s market action saw shares of Rare Element Resources (TSX: T.RES, Stock Forum) jump 21% to $4.35 after the resource explorer/developer reported results of an updated NI 43-101-compliant mineral resource estimate of rare-earth elements plus yttrium contained in three deposits located in the Bull Hill area of the Bear Lodge project in Wyoming. The updated resource estimate of the Bull Hill deposit consists of 6.8 million tons (6.2 mm metric tonnes) averaging 3.75% REO, a 38% increase in the Measured and Indicated categories.
Stornoway Diamond (TSX: T.SWY, Stock Forum), meanwhile, announced the filing of a National Instrument 43-101 technical report representing the qualifying report for the recently-announced Feasibility Study at the Renard Diamond Project in Quebec, which showed base case estimates of Net Present Value of $672 million at a 7% discount rate and Internal Rate of Return of 18.7% before taxes and mining duties, and $376 million and 14.9% after taxes and mining duties. Stornoway stock popped 21% to $1.19.
On Thursday, Brixton Metals (TSX: V.BBB, Stock Forum) shares surged 35% to 25 cents after the micro cap explorer reported assay results from the balance of the 2011 drilling program at its Thorn gold-silver-copper project in British Columbia, which included 95.08 metres of 904 grams per tonne (g/t) silver equivalent.
Also, shares of Berkwood Resources (TSX: V.BKR, Stock Forum) shot up 25% to 12.5 cents as the junior miner announced that effective January 3, 2012, Altair Ventures Inc. and the company (formerly Consolidated Spire Ventures Ltd.) mutually agreed to terminate their two stage option agreement, signed on July 20, 2009, with respect to Berkwood's Prospect Valley gold project near Merritt, British Columbia. Berkwood will now control 100% of the property and act as the operator.
And, in Friday trading, Trevali Mining (TSX: T.TV, Stock Forum) shares powered 15% higher to $1.09 after the miner announced that initial mineral production has begun from the uppermost portions of its wholly-owned Halfmile polymetallic (zinc-lead-silver-copper-gold) Massive Sulphide Deposit in New Brunswick. Ramp-up to full nameplate (2,000-tonne-per-day) commercial production will occur over the current quarter.
Finally, shares of Microbix Biosystems (TSX: T.MBX, Stock Forum) gained as much as 12% to 19 cents as the biotechnology company and India’s Zydus Cadila reported that they have signed a Letter of Intent to market the Thrombolytic drug, Urokinase in the North American markets. The estimated market size for Urokinase use in the U.S. alone is expected to touch $400 million by 2020.