On Monday, Foundation Resources (TSX: V.FDN, Stock Forum) shares climbed as much as 31% to 17.5 cents on volume of more than two million shares after the micro cap explorer said it has successfully intersected new gold mineralization at Goldie Lake, located approximately 1.0 kilometre south of the Osmani Gold Deposit in northwestern Ontario, which hosts a NI 43-101 inferred resource estimate of 763,276 ounces gold.
As well, shares of MedX Health (TSX: V.MDX, Stock Forum) shot up 34% to 23.5 cents on more than 5.4 million shares traded as the provider of low level laser light therapy and light imaging systems announced the acceleration of new market entries for its MoleMate product, which includes skin cancer, burns, and wound care. The company also said its recent quarter was the best in more than three years. MoleMate is marketed by MedX as a pain-free, non-invasive imaging system to see approximately 2 mm below the surface of suspicious moles.
In Tuesday trading, Bold Ventures (TSX: V.BOL, Stock Forum) shares jumped 16% to 22 cents after the micro cap miner announced Monday that it has signed a non-binding Letter of Intent with Fancamp Exploration (TSX: V.FNC, Stock Forum), giving Bold the option to earn up to a 60% interest in Fancamp's McFaulds property in the Ring of Fire (ROF) area of the James Bay Lowlands. This property has potentially viable deposits of chromium and/or copper-nickel-PGM mineralization at depth, this according to Bold Ventures.
Also, shares of Miraculins (TSX: V.MOM, Stock Forum) moved up as much as 23% to 13 cents on volume of more than 5.1 million shares as the medical diagnostic company outlined the details of the FDA clearance for its PreVu Non-Invasive Skin Cholesterol Point of Care (POC) Test.
Wednesday’s market action saw shares of Great Basin Gold (TSX: T.GBG, Stock Forum) surge 11% to 89 cents on volume of more than 1.5 million shares after the miner provided an update on its Hollister Project in Nevada, which the company expects production of 90,000 to 100,000 gold equivalent ounces in 2012 at a cash cost of US$700 to $750 per gold equivalent ounce. For its Burnstone Mine in South Africa, the company has 2012 production targets of 90,000 to 100,000 gold ounces at a cash cost of US$900 to US$1,000 per ounce.
In addition, shares of Porto Energy (TSX: V.PEC, Stock Forum) gained 11% to 19.5 cents on more than 1.2 million shares traded as the oil and gas explorer said it has signed a non-binding letter of intent with an undisclosed party (the Partner), whereby the Partner will farm in to Porto's rights on certain of its concessions onshore Portugal, including the pre-salt potential on the Aljubarrota-3 concession. Under the terms of letter of intent, the Partner will earn a 50% interest in the concessions, comprising approximately 600,000 gross acres (300,000 net to the Partner), in exchange for an aggregate farm-in commitment of up to US$23.0 million in payments and carried costs.
On Thursday, Eco (Atlantic) Oil and Gas (TSX: V.EOG, Stock Forum) shares powered 73% higher to $1.04 on volume of more than 5.9 million shares after the oil and gas explorer said it has received an independent Leads Report for Blocks "2213A" and "2213B" collectively the "Sharon Block" offshore Namibia, which included a (P50) Best Estimate of 7.79 billion barrels of prospective oil.
As well, shares of AM Gold (TSX: V.AMG, Stock Forum) rose as much as 39% to 18 cents on more than 1.5 million shares traded as the micro cap miner reported results of an updated resource estimate for the Jethro Structure on its Red Mountain Property in the Yukon Territory, which estimates an Inferred resource of 127 million tonnes grading 0.48 grams per tonne (g/t) gold, or approximately 1.95 million ounces of contained gold. A cut-off grade of 0.3 g/t gold was used for the estimate.
And, in Friday trading, Banks Island Gold (TSX: V.BOZ, Stock Forum) shares climbed as much as 31% to 67 cents after the micro cap explorer reported that it has received assay results for nine diamond drill holes completed at the Tel Zone in British Columbia in February 2012, which included 50.8 grams per tonne (g/t) gold and 43 g/t silver over 3.0 metres.
Finally, shares of Neo Material Technologies (TSX: T.NEM, Stock Forum) soared 37% to $10.94 on volume of more than 22.6 million shares as the producer of neodymium-iron-boron magnetic powders, rare earths and zirconium based engineered materials and applications announced the signing of a definitive agreement under which Molycorp (NYSE: MCP, Stock Forum) will acquire Neo Materials for approximately $1.3 billion. Neo Materials shareholders will receive consideration equal to 11.30 per share, comprising of $8.05 per share in cash and 0.122 Molycorp shares.