On Monday, Pan Orient Energy (TSX: V.POE , Stock Forum) shares climbed 25% to $3.43 on volume of more than 1.3 million shares after the oil and gas exploration and production company reported that the L53-D2 exploration well in Thailand is currently on 90 day production test flowing 27 API degree oil at a rate of 1,015 barrels per day through 17.8 meters of perforations between 1110.8 meters to 1154.7 meters measured depth (860 to 890 meters true vertical depth), within one of six conventional sandstone reservoir intervals interpreted as oil bearing based on oil shows while drilling and open hole log and pressure data analysis. Pan Orient has 100% working interest in the well and is the operator.
As well, shares of Ithaca Energy (TSX: T.IAE , Stock Forum) added 15% at $2.84 on more than 6.4 million shares traded as the North Sea-focused oil and gas explorer said it received a confidential offer to acquire all of its outstanding shares from an unnamed buyer.
In Tuesday trading, Hana Mining (TSX: V.HMG, Stock Forum) shares jumped as much as 12% to $1.55 on volume of more than 2.2 million shares after the miner reported its most recent drilling results from the completion of 13 infill diamond drill holes in the Banana Zone at its Ghanzi sediment hosted Copper-Silver Project in Botswana, which included 7.62% copper equivalent (5.11% copper and 172.0 grams per tonne silver) over 5.3 metres.
Also, shares of Gennum Corporation (TSX: T.GND, Stock Forum) shot up 119% to $13.45 on more than 9.6 million shares traded as the supplier of analog and mixed-signal semiconductors for the optical communications and video broadcast markets said it has entered into a definitive arrangement agreement for Semtech Corporation (NASDAQ: SMTC, Stock Forum) to acquire all of the outstanding shares of Gennum for $13.55 per share in cash, or a total consideration of about $500 million.
Wednesday’s market action saw shares of Seafield Resources (TSX: V.SFF, Stock Forum) surge 32% to 22.5 cents on volume of more than six million shares after the micro cap explorer reported additional drill results from the current diamond drilling program at its Miraflores Deposit in Colombia, which included 167.75 metres of 1.05 grams per tonne (g/t) gold.
In addition, shares of Armistice Resources (TSX: T.AZ, Stock Forum) moved up 18% to 22.5 cents as the junior miner announced results of definition diamond drilling at its McGarry gold mine in Ontario's Kirkland Lake area, which included 19.2 feet of 1.08 ounces per ton (36.9 grams per tonne) gold.
On Thursday, Golden Hope Mines (TSX: V.GNH, Stock Forum) shares powered 30% higher to 24 cents on volume of more than 3.4 million shares after the micro cap miner reported further assay results from its Summer/Fall 2011 Drill Campaign in Quebec, which included six metres of 1024 grams per tonne (g/t) gold and 6140 g/t gold over one metre.
As well, shares of Source Exploration (TSX: V.SOP, Stock Forum) gained 19% to 32 cents on more than 1.1 million shares traded after the junior explorer announced that drilling at its Las Minas project has intersected gold, silver and copper mineralization, which included 15.89 g/t gold, 12.98 g/t silver, and 2.25% copper over 10 metres, and extended the mineralized skarn zone by a further 125 metres on strike for a total known strike length of approximately 840 metres.
And, in Friday trading, Commerce Resources (TSX: V.CCE, Stock Forum) shares climbed 20% to 39 cents on volume of more than 3.2 million shares after the micro cap explorer reported results for four drill holes completed during the summer/fall exploration program at the Ashram Rare Earth Element Deposit at the Eldor Project in Quebec, which included 325.31 metres of 1.96% Total Rare Earth Oxides (TREO).
Finally, shares of WPC Resources (TSX: V.WPQ, Stock Forum) rose as much as 23% to 16 cents as the junior miner announced the discovery of what the company claims be “a very large porphyry-style copper system” at its 100% owned ZPG Project in Nevada. Drill results included 0.31% copper and 6.2 grams per tonne (g/t) silver over 7.6 metres.