On Monday, CGX Energy (TSX: V.OYL, Stock Forum) shares jumped 30% to 41.5 cents on more than 3.8 million shares traded after the oil and gas explorer said it has entered into a definitive subscription agreement in which Pacific Rubiale Energy (TSX: T.PRE) has subscribed for 85,714,285 units of CGX by way of private placement at a price per unit of 35 cents for an aggregate purchase price of $30 million. Pacific Rubiales will hold approximately 35% of CGX Energy's issued and outstanding common shares on closing of the private placement.
As well, shares of Tigray Resources (TSX: V.TIG, Stock Forum) moved up 25% to 25 cents as the junior explorer reported diamond drill results for eight new holes in the Northern and Central Lenses at the Terakimti volcanogenic massive sulfide copper-gold discovery on its Harvest project in Ethiopia, which included 6.1 metres of 27.2 grams per tonne (g/t) gold, 13.9 metres of 1.9% copper, 18 g/t silver, and 3.6% zinc.
In Tuesday trading, Oromin Explorations (TSX: T.OLE, Stock Forum) shares climbed 22% to 67 cents after the resource junior said it has received the final approval from the Government of Sénégal for an Environmental and Social Impact Assessment for its Oromin Joint Venture Group Gold Project.
Also, shares of Ithaca Energy (TSX: T.IAE, Stock Forum) sank 35% to $1.83 on volume of more than 34.9 million shares as the oil and gas producer/explorer reported that it has ended discussions with all parties in regards to a sale of the company. Ithaca added that although it had been approached by a number companies, the offers did not reflect the true value of Ithaca particularly in light of the current global markets volatility and easing Brent crude prices.
Wednesday’s market action saw shares of Spanish Mountain Gold (TSX: V.SPA, Stock Forum) surge 13% to 48 cents after the micro cap miner announced further results from the in-fill drilling program recently completed within the Main Zone of its Spanish Mountain Gold Project in British Columbia, which included 64 metres grading 3.25 grams per tonne (g/t) gold.
In addition, shares of Eastern Platinum (TSX: T.ELR, Stock Forum) slipped 14% to 24 cents on volume of more than 4.3 million shares as the resource junior reported that due to the continuing negative changes in the global economic environment and the operating environment in South Africa, it has decided to suspend funding for the ongoing development of the Mareesburg open pit platinum mine and construction of the Kennedy's Vale Concentrator plant.
On Thursday, Copper Fox Metals (TSX: V.CUU, Stock Forum) shares powered 17% higher to $1.18 on volume of more than 1.2 million shares after the resource developer reported results of the recently completed National Instrument 43-101 resource estimate for the Schaft Creek copper-gold-molybdenum-silver deposit in British Columbia. Highlights included a Measured and Indicated resource of 7.1 billion pounds copper, 455.3 million pounds molybdenum, 7.3 million ounces gold, and 66.7 million ounces of silver; as well as an Inferred Resource of 2.9 billion pounds of copper, 206.2 million pounds of molybdenum, 3.3 million ounces of gold, and 31.6 million ounces of silver.
As well, shares of Mawson Resources (TSX: T.MAW, Stock Forum) shot up 33% to $1.44 as the junior miner announced the first drill results from the Rompas gold project in Finland, which included six metres of 617 grams per tonne (g/t) gold from seven metres depth.
And, in Friday trading, Canaco Resources (TSX: V.CAN, Stock Forum) shares rose as much as 10% to 33.5 cents on volume of more than 1.6 million shares after the micro cap explorer said it plans to continue with the Preliminary Economic Assessment (PEA) of its Magambazi project in Tanzania at a cost of approximately $5 million. The company asserted that preservation of capital is its top priority and that it has “embarked on a comprehensive strategic review of its business and is evaluating a range of acquisition and exploration opportunities to leverage the balance sheet to create value.”
Finally, shares of Nautilus Minerals (TSX: T.NUS, Stock Forum) fell 40% to $1.23 as the junior miner reported that it is in dispute with the Independent State of Papua New Guinea in regards to the Solwara 1 copper, gold, and silver project, which is on the ocean floor.