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Workers pour melted silver into molds at the KGHM Copper and Precious Metals smelter and processing plant in Glogow May 10, 2013.Reuters

Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.

Fortuna Silver Mines Inc. (FSM-N, FVI-T) says it's buying Goldrock Mines Corp. (GRM-X), owner of the Lindero gold project in Argentina, in a share deal valued at $129-million.

"The combination of Fortuna and Goldrock is expected to expand Fortuna's already low-cost silver equivalent production, and will add an asset with over 10 years of reserve mine life, the ability to add significant free cash flow once constructed, and property and district scale exploration opportunities," the company said in a release.

Fortuna CEO Jorge Ganoza said the combination of the two companies "has the potential to expand our low-cost production with significant free cash flow generation and diversified production, which will allow Fortuna to become one of the lowest cost precious metals producers globally."

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Resolute Forest Products Inc. (RFP-N, RFP-T) announced the temporary closure of its Kénogami (Quebec) supercalendered paper mill for 11 days starting June 23, impacting 184 employees.

It said the downtime is due to "ongoing market disruption caused by measures taken by the former provincial NDP government in Nova Scotia and the former Conservative Government of Canada in support of the Port Hawkesbury (Nova Scotia) paper mill."

The company said support measures from the governments "discriminated in favour of Port Hawkesbury" and led to damages such as the permanent closure of Resolute's Laurentide (Quebec) paper mill in the fall of 2014.

Resolute filed a Notice of Arbitration with the Ottawa under the North American Free Trade Agreement.

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 Major Drilling Group International Inc. (MDI-T) said fourth-quarter revenue $64.1-million, down 21 per cent from the $81.2-million recorded for the same quarter last year.

Its net loss was $12.9-million or 16 cents per share for the quarter, compared to a net loss of $13.1-million or 16 cents per share for the prior-year quarter.

"This was a very difficult quarter," CEO Denis Larocque said in a release, adding "the calendar year got off to a slow start. Most of our customers have reduced their exploration budgets for calendar 2016 based on low commodity prices that were prevailing at the end of calendar 2015. Although some commodity prices have improved over the last four months, most mining companies remain cautious in their spending."

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Mediagrif Interactive Technologies Inc. (MDF-T) reported fourth-quarter revenue of $18.8-million, in line with analysts' expectations and up 8 per cent when compared to the fourth quarter of fiscal 2015.

Adjusted earnings before interest, taxes, depreciation and amortization totalled $6.6-million or 35 per cent of revenue compared to $6.8-million during the fourth quarter of fiscal 2015, the company said.

Profit reached $2.5-million compared to $4.6-million during the fourth quarter of fiscal 2015.

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Currency Exchange International Corp. (CXI-T) said its revenue increased of $5.9-million for the three-month period ended April 30, compared to $5.3-million for same time a year earlier.

It said net operating income decreased $173,000 to $1.2-million and net income fell $182,000 to $480,000.

"The decrease in net operating income and in net income was primarily due to higher expenses for compliance, sales and developing the payments business," the company said.

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Bankers Petroleum Ltd. (BNK-T) says it has resumed operations in Albania after export activities restarted at the Petrolifera Italo Albanese Terminal port facility.

"Over the past six days, Bankers curtailed production by approximately 4,000 barrels of oil per day within the Patos-Marinza oilfield due to lack of storage," the company said. "Production is being brought back online immediately and is expected to resume pre-closure production levels over the next week."

The company also said it has received the final approval of the Court of Queen's Bench of Alberta for the takeover by Geo-Jade Petroleum Corp.

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Ur-Energy Inc. (URG-N, URE-T)  says it's cutting its workforce, citing "continuing depressed uranium market conditions."

It will cut 12 employees to save about $1.5-million starting in 2017.

"The reorganization and workforce reductions are necessitated by the persistent downturn in the uranium market and pricing which affects the company's ability to sell into the spot market and conduct exploration activities in 2016 and 2017," the company said.

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Canopy Growth Corp. (CGC-X) says it has received conditional approval to graduate from the TSX Venture Exchange and list its common shares on the TSX, "representing another major industry first for the company."

"Graduating to the TSX, and to be the first in the sector to achieve it, is a major accomplishment for our team," stated CEO Bruce Linton. "The sector is growing rapidly and we have focused on maintaining our leadership position as it grows. Listing on the TSX will bring even more visibility and credibility as we pursue domestic and international business."

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Sears Canada Inc. (SCC-T SRSC-Q) said revenue fell 14.5 per cent to $596-million in the first quarter, compared to a year ago.

Adjusting for the termination of the credit card agreement, the decline in revenue would have been 11.6 per cent compared to the same quarter last year, the company said.

Its net loss for the first quarter was $63.6-million or 62 cents per share compared to a net loss of $59.1-million or 58 cents per share in the first quarter last year.

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Canam Group Inc. (CAM-T) says it has bought a 51-per-cent interest in Stonebridge, Inc., a steel erector in New Jersey. The amount of the transaction was not disclosed.

"In any investment, our primary objective is to provide value to our customers," stated CEO Marc Dutil. "Stonebridge's dedication to employee safety and its excellent reputation pointed to a strong business and cultural fit. We believe that the growing complexity of contracts and ever-shorter schedules require the emergence of an integrated approach to project management. The Stonebridge acquisition will allow us to provide a more coordinated offer to owners, developers and contractors."

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OneREIT (ONR.UN-T) says it has formed a special committee of independent trustees to explore strategic alternatives.

"There can be no assurance that this process will result in any specific action," the REIT said in a release. "Accordingly, OneREIT does not intend to make further disclosure unless and until its board approves a specific action or otherwise concludes the review of strategic alternatives."

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