On Monday, Canadian Platinum (TSX: V.CPC, Stock Forum) shares climbed 53% to 13 cents after the micro cap explorer said it has identified what it calls “the presence of a thick sequence of graphitic argillite” on its Peter Lake Project in Saskatchewan.
As well, shares of PC Gold (TSX: T.PKL, Stock Forum) added 7% at 22.5 cents as the junior miner reported further results from the 2012 drill program, targeting the newly identified No. 22 Vein area in the Shaft 3 area at the Pickle Crow project in northwestern Ontario, which included 10.73 grams per tonne (g/t) gold over 4.30 metres.
In Tuesday trading, PetroMagdalena Energy (TSX: V.PMD, Stock Forum) shares jumped 26% to $1.58 on volume of more than 16 million shares after the oil and gas producer/explorer said it has entered into a definitive agreement in which Pacific Rubiales Energy (TSX: T.PRE, Stock Forum) has offered to acquire all of the issued and outstanding common shares of PetroMagdalena for $1.60 per share in cash.
Also, shares of Fairmont Resources (TSX: V.FMR, Stock Forum) shot up 43% to 10 cents as the junior explorer reported results from its spring 2012 drill program on the Marmion South property, located east of Atikokan, Ontario, which included 2.00 grams per tonne (g/t) over 8.00 meters.
Wednesday’s market action saw shares of Maudore Minerals (TSX: V.MAO, Stock Forum) surge 26% to $3.60 after the gold junior reported a new gold discovery, now named the Comtois NW Gold Occurrence, on its property north of Val-d'Or, Quebec. Drill results included 71.7 grams per tonne (g/t) gold over 1.2 metres.
In addition, shares of St. Elias Mines (TSX: V.SLI, Stock Forum) rose as much as 12% to 24 cents as the micro cap explorer provided an update on its Cueva Blanca gold property in Peru. The company said it is anticipated that very little fieldwork will be required before mobilizing drilling equipment and crews to the site. As well, approximately 10,000 metres of drilling has been planned and will begin as soon as required permits and permissions are received. Intigold Mines (TSX: V.IGD, Stock Forum) has an option to acquire a 60% interest in the property.
On Thursday, Seafield Resources (TSX: V.SFF, Stock Forum) shares powered as much as 30% higher to 17.5 cents on volume of more than 2.7 million shares after the micro cap explorer reported further results from the ongoing 5,000-metre diamond drill program at its Miraflores Deposit in Colombia, which included 26.0 metres of 3.86 grams per tonne (g/t) gold.
As well, shares of First Uranium (TSX: T.FIU, Stock Forum) moved up 88% to 15 cents on more than 5.8 million shares traded as the uranium miner announced an agreement to sell Mine Waste Solutions and its subsidiaries to AngloGold Ashanti, as well as an agreement to sell the Ezulwini Gold Mine and related assets to Gold One International for a total of US$405 million in cash.
And, in Friday trading, Shear Diamonds (TSX: V.SRM, Stock Forum) shares slid 25% to 21 cents after the micro cap explorer announced that lower current diamond prices need to be offset with greater production and, thus, the company “must obtain financing in the very near term” to fund continuing operations and to increase production by going to around the clock processing.
Finally, shares of RX Gold & Silver (TSX: V.RXE, Stock Forum) dropped 24% to 26 cents on volume of more than three million shares as the gold and silver junior and U.S. Silver (TSX: T.USA, Stock Forum) reported that it will combine operations. RX Gold shareholders will receive 0.109 U.S. Silver & Gold shares per RX Gold share, resulting in their effective ownership of about 30% of the combined company. U.S. Silver shares rose 7% to $1.48.