On Monday, North American markets were closed.
In Tuesday trading, Samaranta Mining Corp. (TSX: V.SAX, Stock Forum) jumped 75% to $0.035 after trading in the stock resumed. Samarium Group Holding Ltd. said this week it will commence a tender offer to purchase at least 51% of the issued and outstanding shares of Samaranta. Singapore-based Samarium said it will pay 12 cents a share plus one full warrant at 16 cents, plus another full two-year warrant at 50 cents. Samarium said it will also grant Samaranta a loan of $5.6 million to help fund exploration at the company’s flagship Guadulupe project in Colombia.
Precipitate Gold Corp. (TSX: V.PRG, Stock Forum) also rose 12% to 28 cents. The company said it has reached an agreement with Gunpoint Exploration Ltd., allowing Precipitate to acquire a 100% interest n the Cecilia gold-silver project in northeast Sonora State, Mexico. The Cecilia project is a low sulphidation epithermal gold-silver target, hosting a large number of historic workings, centred on gold-silver bearing quartz veins and breccias.
Sterling Resources Ltd. (TSX: V.SLG, Stock Forum) eased 9.6% to 75 cents after the company announced a $55 million bought deal offering and continuation of a strategic review process. The offering is comprised of 73.3 million Sterling common shares to an underwriting syndicate priced at 75 cents a share. Under the offering, 20 million common shares will be offered by way of a short form prospectus on a private placement basis across Canada and the United States. The balance will be distributed on a private placement basis via applicable exemptions from prospectus requirements.
International Enexco Ltd. (TSX: V.IEC, Stock Forum) fell 6.8% to 55 cents, on news that its partner Cameco Corp. (TSX: T.CCO, Stock Forum) and (NYSE: CCJ, Stock Forum) has added a third drill rig on the Mann Lake Uranium Project in the Athabaska region of Saskatchewan. The budget for the 2013 program is $6 million. Enexco’s contribution is $1.8 million. The aim is to test for priority targets and expand mineralization discovered in 2006 to 2007.
Wednesday’s market action saw TomaGold Corp. (TSX: V.LOT, Stock Forum) soaring 65.2% to 19 cents after it and Quinto Real Capital Corp. (TSX: V.QIT, Stock Forum) tabled results from the first three holes of a 2,500-metre drill program at the Monster Lake property southwest of Chibougamau, Que. Highlights from three high-grade gold intersections include 42 grams per tonne across 7.2 metres at a vertical depth of 278 metres. “This major discovery will take our assessment to a whole new level at Monster Lake, which has never been drilled to a depth of more than 125 metres,’’ said TomaGold President and CEO David Gordon.
Quinto Real Capital Corp. was up 462.5% to 22 cents on the news after 436,000 shares changed hands. The company has an option to acquire a 70% interest in the Monster Lake property.
Samaranta Mining Corp. (TSX: V.SAX, Stock Forum) jumped 43% to $0.05 after trading in the stock resumed. Samarium Group Holding Ltd. said this week it will commence a tender offer to purchase at least 51% of the issued and outstanding shares of Samaranta. Singapore-based Samarium said it will pay 12 cents a share plus one full warrant at 16 cents, plus another full two-year warrant at 50 cents. Samarium said it will also grant Samaranta a loan of $5.6 million to help fund exploration at the company’s flagship Guadulupe project in Colombia.
On Thursday, Canada Carbon Inc. (TSX: V.CCB, Stock Forum) rose 76.5% to 15 cents after the company tabled grab sampling results from the past-producing lump/vein graphite mine, located 60 kilometres west of Montreal. The new grab samples were taken from graphite-rich veins (15 cm thick) clearly visible in the open pit and yielded significant grades when assayed. Initial grades ran as high as 49.4% graphitic carbon. The sampling program represents the initial steps in Canada Carbon’s plans to re-open the former Miller mine as quickly as possible.
Seafield Resources Ltd. (TSX: V.SFF, Stock Forum) rose 5% to 10.5 cents after the company said it has secured a $16.5 million debt facility under an agreement with the resource financing division of FirstRand Group of South Africa. Proceeds will be used to fund a bankable feasibility study at the company’s Miraflores deposit in the Quinchia District of Colombia. Miraflores contains a N1 43-101-compliant measured and indicated resource of 1.9 million ounces gold.
And, in Friday trading, TomaGold Corp. (TSX: V.LOT, Stock Forum) was up 34% to 21.5 cents. The company said it can now monitor drilling via a smartphone app at its Monster Lake property in Chibougamau, Que., where a 3,500-metre drilling program is currently underway. On February 20, 2013, TomaGold and Quinto Real Capital Corp. (TSX: V.QIT, Stock Forum) announced the results of the first three holes of a 2,500 program. Highlights included 42 grams per-tonne over 7.2 metres at a vertical depth of 278 metres, prompting the company to add another 1,000 metres to the program. TomaGold said the smartphone app can be downloaded free of charge from CoreShackMedia’s website.
Critical Elements Corp. (TSX: V.CRE, Stock Forum) jumped 15% to 23.5 cents on news that a company director has arranged a sale of 500,000 shares at $0.205 each to a European institution through the facilities of the TSX Venture Exchange. Proceeds of the sale will be used to fund a private placement of seven million units of the company at 20 cents each. Proceeds are earmarked for working capital and to pursue a feasibility study at the wholly-owned Rose lithium-tantalum project in Quebec.
Samaranta Mining Corp. (TSX: V.SAX, Stock Forum) was up 14% to $0.04 after the company said it is “cleaning house” to build a stronger better company. Samaranta said it wishes to advise that Volkmar Hable has been terminated as the company’s executive vice-president, mining and exploration, effective immediately. In an early press release, Samaranta confirmed that the board received Hable’s resignation as a director on February 12, 2013.