On Monday, Yukon-Nevada Gold (TSX: T.YNG, Stock Forum) shares climbed 20% to 36.5 cents on volume of more than 3.9 million shares after the gold miner reported that it has restarted production following commissioning of a new ore dryer, fine-crushing conveying system and Distributed Control System at its wholly-owned Jerritt Canyon gold operation in Nevada. The forecast for February 2012 plant production is an average of 3,300 tons per day and production of 9,000 ounces of gold.
As well, shares of Pinestar Gold (TSX: V.PNS, Stock Forum) shot up 33% to 14 cents as the micro cap explorer said it has successfully negotiated an access agreement with the owners of the surface rights over the Lajualas gold-silver vein system on the Becker property in Chile. The company added that it will now immediately start road construction to provide access for a diamond drill program on the Lajualas system, which is expected to start later this month.
In Tuesday trading, MAX Resource (TSX: V.MXR, Stock Forum) shares jumped 28% to 27.5 cents after the micro cap explorer said it has received assay results from the first three of the four step out drill holes completed at its Majuba Hill copper/silver project in Nevada, which included an intercept of 29.2 meters of 30.5 grams per tonne (g/t) silver and 0.69% copper.
Also, shares of Reservoir Capital (TSX: V.REO, Stock Forum) moved up 18% to 60 cents as the renewable energy company reported that it has received a formal confirmation from the Ministry of Infrastructure and Energy of the Republic of Serbia that the company's Brodarevo-1 and Brodarevo-2 hydroelectric projects have been included into the Bilateral Agreement on Renewable Energy with the Italian Government. Under the terms of this agreement all renewable energy produced in the approved projects in Serbia and exported to Italy will have a guaranteed production price of €155 per megawatt hour for the 15-year term of the agreement.
Wednesday’s market action saw shares of Golden Hope Mines (TSX: V.GNH, Stock Forum) surge as much as 28% to 29.5 cents on volume of more than 1.9 million shares after the micro cap miner reported further results from its Fall 2011 Drill Campaign in Quebec, which included 4.39 grams per tonne (g/t) gold over 33 metres.
In addition, shares of Tamerlane Ventures (TSX: V.TAM, Stock Forum) gained 13% to 17 cents as the junior explorer announced the results of the NI 43-101 technical report for the N-204 surface deposit at its Pine Point Project in the Northwest Territories. The report shows the N-204 deposit at the Pine Point Project is feasible with an internal rate of return (IRR) of 90%, and the company has already begun the permitting process for this deposit. The cash cost (average over mine life) of zinc production from the N-204 deposit is projected to be 47 cents per pound. The mineral inventory includes diluted probable reserves of 12.8 million tonnes at a grade of 0.70% lead and 2.60% zinc, and diluted in-pit inferred resources of 1.5 million tonnes at a grade of 0.6% lead and 2.3% zinc, at a cutoff grade of 1.1% combined zinc+lead.
On Thursday, Lake Shore Gold (TSX: T.LSG, Stock Forum) shares powered 12% higher to $1.55 on volume of more than 11.1 million shares after the gold miner reported that it has entered into an agreement with Franco-Nevada (TSX: T.FNV, Stock Forum) through which Franco-Nevada will pay to Lake Shore US$35 million for a 2.25% net smelter return royalty on the sale of minerals from its Timmins West Complex. In addition, Franco-Nevada will pay $15 million to acquire 10,050,591 common shares of the company on a private placement basis, with the purchase price per share of $1.49.
As well, shares of MedX Health (TSX: V.MDX, Stock Forum) skyrocketed 467% to 25.5 cents on more than 12.8 million shares traded as the provider of low level laser light therapy and light imaging systems announced that its MoleMate has received approval from Health Canada, and is immediately available and in stock for all Canadian physicians. The company claims that MoleMate is a pain-free, non-invasive imaging system to see approximately 2 mm below the surface of suspicious moles, and provide additional information and images related to every mole and all types of melanomas and non-melanomas.
And, in Friday trading, Nevada Sunrise Gold (TSX: V.NEV, Stock Forum) shares climbed 67% to 15 cents on volume of more than 13.9 million shares after the micro cap explorer reported that Pilot Gold (TSX: T.PLG, Stock Forum) announced initial drilling results at Kinsley Mountain in Nevada, which included 5.91 grams per tonne (g/t) gold over 18.4 metres. In September 2011, Pilot Gold purchased an option agreement to earn a 51% interest on the Kinsley Mountain project with Nevada Sunrise by incurring US$1.18 million in exploration expenditures by March 30, 2013, with the option for Pilot Gold to earn an additional 14% interest by electing to incur a further US$3.0 million in exploration expenditures within five years of meeting the initial earn-in.
Finally, shares of Fibrek (TSX: T.FBK, Stock Forum) rose 17% to $1.32 on more than six million shares traded as the producer of virgin and recycled kraft pulp said it has entered into a support agreement pursuant to which Mercer International will offer to acquire all of the issued and outstanding common shares of Fibrek for $1.30 per share.
