On Monday, Strateco Resources (TSX: T.RSC, Stock Forum) shares plummeted 63% to 4.5 cents on volume of more than 9.4 million shares after the uranium project developer denounced the announcement made by Quebec Environment Minister Yves-François Blanchet, who suspended uranium exploration and mining in the province and has ordered an impact study on the exploration and development of the mineral. Strateco has invested more than $120 million in its flagship Matoush project, which is located east of James Bay on The James Bay Cree Nation’s Eeyou Istchee reserve.
As well, shares of China Gold International Resources (TSX: T.CGG, Stock Forum) slipped 13% to $3.33 following a Bloomberg report that the death toll from a landslide at one of its mines in Tibet has risen to 21 people, with another 62 still missing. On March 29, a landslide struck a workers’ camp at the Jiama copper mine in Tibet, burying 83 workers.
In Tuesday trading, South American Silver Corp. (TSX: V.MMY, Stock Forum) climbed 19.4% to 21.5 cents as investors assessed the news that mineral exploration company had intersected over 3.7 metres of 12.19 grams per tonne gold within a larger interval of 11.9 metres, averaging 4.39 grams per tonne gold at the Escalones copper-gold project in Chile. The gold mineralization is within a larger "gold-only" intercept of 50.2 metres averaging 1.16 grams per tonne gold located above the large copper-gold skarn that comprises part of the 3.8 billion pound copper resource. Assays are pending for the remainder of the hole.
Touchstone Exploration Inc. (TSX: V.TAB, Stock Forum) jumped 6.4% to 25 cents after the petroleum and natural gas company said it had resumed the 2013-drilling program, which is scheduled for April 8, 2013. The drilling program has up to 12 additional wells planned in San Fernando, Trinidad. Current field estimated production is approximately 2,550 barrels of oil per day. The 2013 exit production guidance is approximately 3,000 to 3,300 barrels of oil per day.
On Wednesday, Aurcana Corp. (TSX: T.AUN, Stock Forum) was down 6.5% to 58 cents after the emerging silver producer announced the results of the 2012 exploration program at the Shafter Mine in Texas. The main activity of the 2012 Shafter exploration program was an aggressive diamond drilling campaign focused on the near mine environment that totaled 36,000 feet in twenty-nine holes. Highlights from the drill program included 6.0 metres grading 27 grams per tonne silver and 10.0 metres grading 14.3 grams per tonne silver.
Sterling Resources Ltd. (TSX: V.SLG, Stock Forum) lost 5% to 78 cents after the oil and gas company reported further delays of approximately 90 days that it will take to finish the modifications of an onshore plant before gas can be received for processing from the Breagh Field. The earliest estimate for first gas sales is mid July, with a late case of the final week of August, 2013. Initial production at Breagh, located in the UK North Sea, is anticipated to range from 150 to 180 million standard cubic feet per day with five or six of the seven planned production wells on-stream.
On Thursday, Fjordland Exploration Inc (TSX: V.FEX, Stock Forum) jumped 100% to .03 cents after the junior exploration and development company signed a letter of intent and preliminary agreement with Sumac Mines Ltd., a subsidiary of Sumitomo Metal Mining Co. (OTO: SMMYY, Stock Forum) of Japan, on the Dillard Porphyry copper-gold project in southern B.C. Under the terms of the agreement, Sumac has the option to earn a 51% interest in the project by making aggregate expenditures of $3.5 million over a three-year period.
Caledonia Mining Corp. (TSX: T.CAL, Stock Forum) climbed 13% to 13 cents after the mining and exploration company announced a dividend in respect of the 12 months ended Dec. 31, 2012 of one-half cent Canadian per pre-consolidated ordinary share. The dividend is anticipated to be payable on 30 April 2013 to shareholders of record on 19 April 2013.
And, in Friday trading, Giyani Gold Corp. (TSX: V.WDG, Stock Forum) jumped 19.6% to 61cents after the gold exploration company said it had engaged South African based Sasfin Capital, a division of Sasfin Bank Ltd. to provide general strategic corporate advisory services and to act as transactional sponsor to the listing of Giyani Gold on the Johannesburg Stock Exchange on an exclusive basis. Sasfin is an independent and diversified banking and financial services group with intimate knowledge and senior relationships within the South African banking and investment communities.
Canadian Overseas Petroleum Ltd. (TSX: V.XOP, Stock Forum) climbed 2.1% to 24 cents as investors assessed the news that the oil and gas exploration company announce the closing and completion of the previously announced transactions between the company's wholly owned subsidiary Canadian Overseas Petroleum Bermuda Ltd. (COPLB), first with Peppercoast Petroleum plc, a private oil and gas exploration company, and second with ExxonMobil Exploration and Production Liberia Ltd. (ExxonMobil). COPL now has a 20% working interest in Block LB-13, with ExxonMobil the operator, having an 80% working interest.