On Monday, Tuscany International Drilling Inc. (TSX: T.TID, Stock Forum) soared 50% to 13.5 cents after the oilfield services company announced that it has retained Citigroup Global Markets Inc. and Black Spruce Merchant Capital Corp. as its financial advisors to consider a range of potential strategic alternatives for the company, with a goal to enhance shareholder value. While undertaking the strategic review, Tuscany will continue to conduct its business as usual and remains focused on servicing its customers.
La Ronge Gold Corp. (TSX: V.LAR, Stock Forum) climbed 4% to 25 cents as investors assessed the news that the gold-focused company had intersected three new near-surface gold zones, including over 5.71 metres grading17.98 grams per tonne gold 2,620 metres northeast of Preview SW gold deposit in north-central Saskatchewan.
In Tuesday trading, Sulliden Gold (TSX: T.SUE, Stock Forum) shares climbed 10% to 81 cents on volume of more than 3.4 million shares after the gold project developer announced that Agnico-Eagle Mines (TSX: T.AEM, Stock Forum) has agreed to make a strategic investment of $24 million into Sulliden through a non-brokered private placement of units at a price of 89 cents per unit. As a result of the transaction, Agnico-Eagle will own 9.96% of Sulliden's issued and outstanding shares on a non-diluted basis.
As well, shares of TransGaming (TSX: V.TNG, Stock Forum) shot up 16% to 11 cents as the provider of platform-defining social video game experiences said it has signed a licensing agreement valued at US$1 million with a Fortune 1000 cloud services provider to enable select products to run on various System-on-Chipsets using TransGaming's core technology.
On Wednesday,Metals Creek Resources Corp. (TSX: V.MEK, Stock Forum) jumped 25% to 5 cents after the junior exploration company reported assay results from the first hole of its recently completed drill program on the Ogden gold project in Timmins, Ontario. The program consisted of eight holes targeted on the Thomas Ogden (TOG) Zone and was designed to test the eastern, western and down dip extent of the gold mineralization. The highlight of the results was over 9.0 metres grading 49.96 grams per tonne gold, including over 1.0 metre grading 434.77 grams per tonne gold.
Forum Uranium Corp. (TSX: V.FDC, Stock Forum) climbed 21.6% to 45 cents as investors assessed the news that the energy company had completed 17 holes totaling 3,449 metres on three near surface targets on the NW Athabasca Joint Venture project located in the Athabasca Basin, Saskatchewan. Uranium mineralization was intersected in 8 of 17 holes, including 4.5 metres of radioactivity with 1.2 metres of "Off Scale".
On Thursday, Erdene Resources Development Corp. (TSX: T.ERD, Stock Forum) jumped 20% to 15 cents after the junior resource company said it had entered into a strategic alliance with Teck Resources Ltd (TSX: T.TCK.B, Stock Forum). The alliance was formed by the signing of option and private placement agreements to fund and explore the company's mineral tenements in the Trans Altay region of southwest Mongolia. Initially, the program will focus on the company's Khuvyn Khar copper porphyry prospect as well as exploration of select targets across the Trans Altay region.
EPM Mining Ventures Inc. (TSX: V.EPK, Stock Forum) climbed 5% to 31.5 cents after the junior miner announced an update on its ongoing preliminary feasibility study for the production of sulfate of potash from its Sevier Playa project in southwestern Utah. The estimated completion date of the PFS remains mid-2013 which will provide the foundation for the company's definitive feasibility study, anticipated to be completed by late-2013. The PFS will build upon the preliminary economic assessment filed in November 2012 that indicated sulfate of potash production of 300,000 metric tonnes with a 30-year mine life, an estimated net present value of $629.7 million (after-tax, inflated, 8% discount rate), and an estimated internal rate of return of 24% (after tax, inflated).
And, in Friday trading, Sulliden Gold Corp. Ltd. (TSX: T.SUE, Stock Forum) lost 1.3% to 76 cents after the precious metals company said it had closed the $24 million private placement financing with Agnico-Eagle Mines Ltd. (TSX: T.AEM, Stock Forum) announced on April 9, 2013. As a result of the transaction, Agnico-Eagle owns 9.96% of Sulliden's issued and outstanding shares on a non-diluted basis.
Orvana Minerals Corp. (TSX: T.ORV, Stock Forum) was down 4.3% to 89 cents after the copper and gold producer said that the strike at its Don Mario Upper Mineralized Zone open-pit mine in Bolivia reported on April 11, 2013 has ended. The strike was related to the demand by the union for certain payments alleged to be owed to union employees in respect of two periods between 2002 and 2012 which payments were not part of the labour agreement at those times.