On Monday, GobiMin (TSX: V.GMN, Stock Forum) shares climbed 13% to 38 cents after the micro cap miner said it has entered into two definitive sale and purchase agreements with Xinjiang Xinxin Mining Industry Co. to dispose of its three nickel-copper mining properties, namely Yellow Mountain East, Xiangshan and Yellow Mountain, in China for a total cash consideration of about $87.9 million.
As well, shares of Finavera Renewables (TSX: V.FVR, Stock Forum) powered 22% higher to 5.5 cents as the developer of renewable energy resources and technologies announced its bid to develop four wind energy projects in British Columbia. To facilitate the bid into BC Hydro's 2008 Clean Power Call, Finavera Renewables has signed a memorandum of understanding with GE Energy Financial Services for proposed financing of up to 295 megawatts of clean wind power projects in the Peace region in northeast British Columbia.
In Tuesday trading, Golden Share Mining (TSX: V.GSH, Stock Forum) shares surged 27% to 14 cents after the micro cap miner said diamond drilling is now completed on its Elwood property west of Thunder Bay, Ontario. Seven holes totaling 485 metres were drilled on the U Zone, a massive quartz vein structure hosted in sheared and altered granodiorite. Visible gold was encountered at 18.50 metres in the heart of the U zone quartz veining.
Also, shares of Bio-Extraction (TSX: V.BXI, Stock Forum) jumped 13% to 35 cents after the technology firm focused on the extraction of oil and high-value proteins from oilseeds said it has signed a protein sales agreement with global chemical and nutritional conglomerate Helm AG, for the purchase and distribution of not less than 70% of the Specialty Protein products produced at the BioExx canola processing facility in Saskatoon. The agreement covers a 10-year period, comprised of a five-year base term with five automatic one-year renewals.
Wednesday’s market action saw shares of Mainstream Minerals (TSX: V.MJO, Stock Forum) soar as much as 300% before closing up 80% to nine cents after the micro cap explorer and King's Bay Gold (TSX: V.KBG, Stock Forum) announced the successful completion of their Phase 1 drilling program on their joint-ventured Phyllis Lake Project near Ignace, Ontario. The results from this program confirms the presence of wide zones of uranium, rare earths, rare metals and other minerals, notably sulfur and iron, at or near surface in East Zone Number 1. The company said all of these minerals have significant economic value and given that these wide zones are at or near surface, they are amenable to open pit mining. King's Bay shares gained 80% to nine cents.
In addition, shares of Hard Creek Nickel (TSX: T.HNC, Stock Forum) shot up 32% to 12.5 cents after the junior miner reported results for the final 11 diamond drill holes, totaling 3,024.5 metres, from the 2008 drilling program at its 100% owned Turnagain Project in British Columbia, which included 184 metres of 0.32% nickel.
On Thursday, Osisko Mining (TSX: T.OSK, Stock Forum) shares climbed 26% to $2.20 after the miner reported results from the definition drill program currently under way on the South Barnat Zone, a separate gold mineralized system located approximately 1200 metres northeast of the center of the Canadian Malartic deposit in Quebec, which included 3.19 grams per tonne (g/t) gold over 76.5 metres.
As well, shares of Nanika Resources (TSX: V.NKA, Stock Forum) powered 167% higher to four cents after the micro cap explorer announced that it has entered into a Memorandum Of Understanding with Palm Clean Energy and Daewon Chemical Co. of South Korea, confirming intentions to form a joint venture company. The new joint venture company formed by these partners will hold the continued exploration, development and mining right to the "Lucky Ship" molybdenum project located at the "Nanika Ridge" site near Houston, British Columbia.
And, in Friday trading,High Desert Gold (TSX: T.HDG, Stock Forum) shares soared 26% to 24 cents after the micro cap miner reported an issuer bid, pursuant to which the company will offer to purchase for cancellation a maximum of 36 million common shares of the company (about 87.7% of the currently issued and outstanding HDG shares) at a price of 27 cents per HDG Share. The purchase of HDG Shares will be financed from existing cash and will result in a distribution of a substantial majority of HDG's cash. The offer is being made to afford HDG shareholders an opportunity to realize a cash return for all or a portion of their investment in HDG at a premium of 42.1% per HDG Share to the previously announced offer of Northern Financial dated October 30, 2008, of 19 cents per HDG Share.
Finally, shares of Frontera Copper (TSX: T.FCC, Stock Forum) shot up 31% to 59 cents as the junior miner acknowledged the recent purchase of a 16% equity interest in the company by Invecture Group, S.A. de C.V., a Mexican registered company. Invecture has announced its intention to seek to acquire additional shares in Frontera to the extent of at least the number of shares that would constitute legal control, provided such shares are available at an acceptable price.
