Stock movers for the week of October 1, 2012
On Monday, Oromin Explorations (TSX: T.OLE, Stock Forum) shares climbed as much as 20% to 83 cents as the gold project developer announced a 49% increase in its Indicated gold resource to 3.78 million ounces for its OJVG Gold Project in Senegal. As well, the company added that its Inferred gold ounces have risen to 0.96 million ounces.
As well, shares of Hyduke Energy Services (TSX: T.HYD, Stock Forum) slid 29% to 55 cents on volume of more than 1.6 million shares after DoAll Industries said it has terminated the proposed Arrangement Agreement to acquire of the outstanding common shares of the integrated oilfield services company.
In Tuesday trading, Vantex Resources (TSX: V.VAX, Stock Forum) shares jumped 55% to 15.5 cents on volume of more than 3.9 million shares as the micro cap explorer announced that mining executive Rob McEwen, founder and former CEO of Goldcorp, has increased his stake in Vantex by 500,000 shares, bringing his total investment to 7.8 million shares, or approximately 12.4% of the company's currently issued and outstanding stock.
Also, shares of Pacific Booker Minerals (TSX: V.BKM, Stock Forum) plummeted 67% to $4.95 after the British Columbia government said it has decided to refuse to issue an Environmental Assessment certificate for the company’s Morrison porphyry copper/gold/molybdenum project as proposed.
Wednesday’s market action saw shares of Zenyatta Ventures (TSX: V.ZEN, Stock Forum) surge as much as 17% to 49.5 cents on volume of more than 2.8 million shares after the micro-cap explorer reported that a first pass beneficiation test demonstrated a leaching process capable of producing a 97.2% total graphite product from a rough concentrate. The company added that work is on-going to target purity levels of greater than 99.0%, with results from a second series of tests expected soon.
In addition, shares of Silver Sun Resource (TSX: V.SSU, Stock Forum) moved up 11% to 15 cents as the resource developer announced that it has begun to truck 1,000 tons of gold-bearing mineralized material to Grants Pass, Oregon for immediate processing at the Merlin contract mill. The company said that upon agreeing to the average saleable grade for the concentrates, the final sale is expected within 21 days thereafter.
On Thursday, Arsenal Energy (TSX: T.AEI, Stock Forum) shares powered 23% higher to 60 cents after the oil and gas producer/explorer said it has drilled and tested two 100% working interest horizontal wells at its Princess facility in Alberta. The first well flowed at an average rate of 600 bbls/d of oil and 730mcf/d of gas over a five-day test period. The company added that the well has been tied in and turned over to continuous production operations.
As well, shares of Sulliden Gold (TSX: T.SUE, Stock Forum) gained 15% to $1.07 on volume of more than 12.9 million shares as the gold junior’s Board of Directors reported that it has decided to end its management bonus plan as a result of shareholder input.
And, in Friday trading, Primero Mining (TSX: T.P, Stock Forum) shares climbed 36% to $7.20 on volume of more than 5.4 million shares as the precious metals producer announced that its Mexican subsidiary has received a positive ruling from the Mexican tax authorities.
Finally, shares of Hyduke Energy Services (TSX: T.HYD, Stock Forum) shot up 36% to 76 cents after privately-held Do All Industries went hostile with its takeover bid for the integrated oilfield services company. Do All, however, slashed its offer price to 83 cents per share, or $20.1 million, from $1.37 per share, or $34 million.
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