Workers stack lead bars at the Wanyang smelting facility, a client of Silvercorp Metals Inc., in Jiyuan, Henan Province, China, on Monday, Sept. 26, 2011.Bloomberg
Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
Pretium Resources Inc. (PVG-T; PVG-N) announced an updated forecast of the capital cost to complete construction of its Brucejack Mine, which is $811.1-million (U.S.), an increase of 16 per cent from the February capital cost estimate.
The new forecast includes $68.8-million of working capital for the first three months of production, "but does not take into account any revenue generated during this period," the company said.
"Key areas of capital cost increases from the February 2016 capital cost estimate include: the transmission line ($37.9-million); costs to accelerate commissioning ($13.9-million); new scope items ($21.7-million); construction overages ($34.1-million); and Indirects/Owner's costs ($31.4-million)."
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Altius Minerals Corp. (ALS-T) says it intends to record a $70-million to $75-million impairment charge on the carrying value of its 53-per-cent interest in the Genesee Royalty Limited Partnership for the fiscal quarter ended Jan. 31.
"This impairment charge is non-cash in nature, will not affect near to medium term cash flows of the corporation, and the corporation remains in compliance with debt covenants under its lending arrangements," the company said in a release. "In addition, the resulting adjusted Genesee royalty book value will now be in closer alignment with valuation estimates already in use by the financial analysts that cover Altius."
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Silvercorp Metals Inc. (SVM-T) reported third-quarter net income of $13.1-million, or 8 cents per share, up 294 per cent compared with net income of $3.3-million or 2 cents per share in the prior year quarter.
Sales were $47.8 million, up 64 per cent compared to $29.1-million from a year ago.
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Bellatrix Exploration Ltd. (BXE-N) says its listing on the New York Stock Exchange has been extended until its annual meeting on May 17.
In August, Bellatrix said it had received a continued listing standards notice from the NYSE because the average closing price of its shares had been less than $1 (U.S.).
Bellatrix had until Feb. 4, to regain compliance with the minimum share price requirement.
"Since the Company is required to obtain shareholder approval for a corporation action, the cure period has been extended to the upcoming shareholder meeting as permitted under NYSE rules," hte company said. "Bellatrix's common shares are expected to continue to trade, unaffected, on the NYSE during this extension period."
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Immunovaccine Inc. (IMV-T) appointed Pierre Labbé as chief financial officer, effective Feb. 20.
"We are entering a transformative period of growth at Immunovaccine, and are very pleased to have a financial veteran with Pierre's experience on our leadership team," said CEO Frederic Ors.
Mr. Labbé has 15 years of experience in the role of chief financial officer, having served in that capacity with companies such as Medicago Inc. and Leddartech Inc.
"He was an integral part of the team that negotiated the acquisition of Medicago by Mitsubishi Tanabe Pharma in 2013 for an enterprise value of $357-million," the company said.
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Mountain Province Diamonds Inc. (MPVD-T; MPVD-N) appointed Perry Ing as chief financial officer effective Feb. 6.
Mr. Ing has also worked as CFO at Kirkland Lake Gold (2015 - 2016) and McEwen Mining (2008 - 2015).
"We are pleased to welcome Perry to Mountain Province Diamonds as the Company transitions from mine development to operations", said stated CEO Patrick Evans.
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CanniMed Therapeutics Inc. (CMED-T), which produces pharmaceutical-grade cannabis, said January sales were the highest on record, with 1,055 net new patient records contributing to total volume sales of 127 kilograms of dried marijuana equivalent sales.
That included 42 kilograms of dried marijuana equivalent sales of cannabis oils, which was generated from an average 255 orders per business day.
Prior to the January record, December 2016 was previously the highest volume month with 421 net new patients contributing to total volume sales of 110 kilograms.
"We are pleased with this significant month-over-month increase in new patients and volume of medical cannabis shipped," said CEO Brent Zettl in a release.