On Monday, New Global Ventures International (TSX: V.NNG , Stock Forum) shares climbed 24% to 13 cents after the micro cap miner said it has entered into a definitive agreement to acquire a 100% interest in the El Tesoro Gold Mine in Colombia, from Minerales Del Puerto S.A., a private Colombian company. The project comprises 622 hectares and is proximal to concessions owned by AngloGold Ashanti, Mineros S.A. and the Minas el Vapor Gold Mine, which has been operating for over 80 years.
As well, shares of Samuel Manu-Tech (TSX: T.SMT , Stock Forum) shot up 75% to $7.41 after the provider of industrial products said it has entered into a definitive agreement with its controlling shareholder, Samuel, Son & Co., Limited, which provides for a proposed transaction in which Samuel would effectively acquire all of the outstanding common shares in the capital of SMT that Samuel does not already own for $7.50 per common share in cash.
In Tuesday trading, Northern Tiger Resources (TSX: V.NTR , Stock Forum) shares jumped 33% to 26 cents after the micro cap explorer announced that initial grab samples collected on and around the discovery vein on the 3Ace Property in the Yukon have verified the nature of the gold mineralization, with average gold assays of 1,762.4 grams/tonne (g/t) from the nine samples.
Northstar Healthcare (TSX: T.NHC , Stock Forum), meanwhile, announced that the unsolicited offer by Canada Healthcare Acquisition Inc., a corporation indirectly controlled by Dr. Donald L. Kramer, a former CEO and former director of Northstar, expired at 5:00 p.m. (Toronto time) on July 26, 2010. Canada Healthcare reported that it had terminated the offer and would not be taking up any shares under, or extending, the offer. Northstar stock dropped 32% to 61 cents.
Wednesday’s market action saw shares of Canacol Energy (TSX: V.CNE , Stock Forum) surge 10% to $1.14 after the oil and gas explorer/producer provided an update of its development drilling program at its operated Rancho Hermoso Field located in the Llanos Basin of Colombia. The company spud the RH 6 well on June 24, 2010, and completed drilling operations on July 20, 2010, reaching a total depth of 10,780 feet measured depth (9,933 ft true vertical depth) without operational incident. The RH 6 well encountered a total of 115 ft True Vertical Depth of net oil pay in five different reservoirs, which is significantly greater than the 40 ft of net oil pay encountered at the RH 5 well located down dip on the structure.
Also, shares of AeroMechanical Services (TSX: V.AMA , Stock Forum) moved up 17% to 35 cents as the provider of technological solutions and services designed to reduce costs and improve efficiencies in the airline industry said it has signed a contract to install afirs UpTime on 34 turboprop aircraft, the entire fleet of a regional Scandinavian airline that is a subsidiary of an international aviation holding company.
On Thursday, Ventana Gold (TSX: T.VEN , Stock Forum) shares powered 14% higher to $7.89 after the miner reported drill results from 17 additional holes at the La Bodega gold project in Colombia, which included 6.0 metres of 42.3 grams per tonne (g/t) gold and 45.6 g/t silver.
In addition, shares of Thundermin Resources (TSX: T.THR, Stock Forum) gained 15% to 11.5 cents as the micro cap explorer and 50% joint venture partner Cornerstone Resources (TSX: V.CGP , Stock Forum) announced that they have intersected 2.3% copper over a core length of 18.0 metres, including 4.2% copper over 5.5 metres, approximately 992 metres below surface on the Little Deer Copper Deposit in Newfoundland.
And, in Friday trading, Contact Exploration (TSX: V.CEX , Stock Forum) shares climbed as much as 14% to 16 cents after the oil explorer/producer announced results from the March 31, 2010 year-end evaluation of its oil and gas assets, which showed a 119% surge in net proved oil reserves to 147,000 barrels from 67,000 barrels in 2009.
Finally, shares of Sierra Wireless (TSX: T.SW , Stock Forum) rose 21% to $9.52 as the company reported second-quarter revenue of $159.1 million, an increase of 18% from $135.3 million during the same period last year. On a non-GAAP basis, net earnings were $4.4 million, or 14 cents per diluted share, compared to net earnings of $1.5 million, or five cents per diluted share, in the second quarter of 2009.
