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Our roundup of Canadian small-caps making news and on the move today. This post will be updated through the morning.

Belo Sun Mining Corp. announced the completion of a feasibility study on its 100 per cent owned Volta Grande project located in Brazil. "The project delivers positive results in all the areas we believe are important to investors, delivering a long life project with initial production spanning over 17 years; robust economics at reduced and current gold prices; and fundable capital," said Belo CEO Peter Tagliamonte. "Also the geological setting of the property suggests a strong potential for the mine life to be extended beyond the projected 17 years presented in the Feasibility Study, making this a cornerstone mining Project. This economic robustness should allow us to internally fund exploration and development activities to realize additional opportunities and achieve growth."

BMO analyst Brian Quast upgraded Belo Sun Mining to "outperform" from "market perform" upon hearing of the feasibility study results. The consensus target price for the company is 51 cents (Canadian).

"While Volta Grande remains unfinanced and unpermitted, the project has 3.8 million ounces in reserves, modest capital requirements, and a full feasibility study. BMO Research expects this combination to be attractive to a potential joint venture partner or acquirer, especially considering Belo Sun's market cap is only about $40-million (U.S.).

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Enterprise Group Inc. reported fourth-quarter revenue of $25.7-million, an increase of $14.6-million from a year earlier, and beating the consensus of $23.7-million. It saw breakeven earnings per share, missing the consensus of 2 cents profit. EBITDA margins were 24.7 per cent, well below consensus of 30.9 per cent.

M Partners Research analyst Steven Salz said despite the top line beat, Entreprise's share price could respond negatively today to the quarter. "Management had alluded to the Q3/14 margin compression as effectively an anomaly on the conference call, expecting equipment re-deployment and the benefit of Westar to normalize margins in Q4/14. What we saw was an inability to meet this expectation, and now head into murky waters for normalization as any improvements will now likely be masked by the generally weak services market, impacting all players. We believe shareholders would be best served by E concentrating efforts on fully utilizing owned equipment prior to re-renting third party. We will be looking for clarity regarding this balance on the conference call," he said in a research note.

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Corus Entertainment Inc. announced it is expanding its partnership with Nickelodeon, a division of Viacom International Media Networks, entering into a new long-term agreement that grants Corus exclusive rights to all of Nickelodeon's English and French-language content across existing and emerging digital platforms as well as linear services in Canada.

Under the deal, Corus becomes the sole distributor and rights holder of Nickelodeon's  catalogue of current content and library titles in Canada.

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Vicwest Inc. reported an adjusted fourth-quarter EPS of 27 cents, above consensus of 20 cents. Sales came in at $138.4-million, above consensus of $122.5-million.

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In analyst actions today, Raymond James downgraded WSP Global Inc. to "outperform" from "strong buy." It also raised its price target to $48 (Canadian) from $46.

WSP Global was Raymond James' best pick for 2015, and the stock is up 22 per cent so far this year - or 34 per cent since bouncing off its January lows. "With WSP's recent rally, the valuation gap that once separated it from industry stalwart Stantec has completely closed," Raymond James analyst Frederic Bastien said in explaining the downgrade.

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GuestLogix Inc., a global provider of payment technology to the passenger travel industry, today announced that via its newly acquired subsidiary OpenJaw Technologies it has secured Expedia Affiliate Network, a division of one of the world's largest online travel companies, Expedia, Inc., as a member of its Preferred Supplier Program. Terms were not disclosed.

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Pure Industrial Real Estate Trust announced the sale of four assets in Ontario for a total of $11.1-million. The assets were acquired over various time periods for an aggregate price of $7.8-million.

"The sale of these assets reflects PIRET's commitment to creating value for its unitholders through the selective disposition of non-core assets," the company said.

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Northfield Capital Corp. announced its intention to make a normal course issuer bid through the facilities of the TSX Venture Exchange to buy back 5 per cent of its Class A restricted voting shares.

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Mart Resources Inc. reported a net income for the year ended Dec. 31, 2014 of $28.1-million (U.S.), or 8 cents a share, compared to net income of $35.5-million (9 cents) for the year ended Dec. 31, 2013.

Cash flow from operating activities increased to $97.7-million from $66.7-million for the same period due primarily to increased production offset by lower oil prices, higher production costs, costs relating to taxes on venture production and business development and corporate costs.

Mart announced its average daily oil produced and sold for the year from its Umusadege, Nigeria field was 6,469 barrels of oil per day, compared to 4,000 a year earlier.

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Dundee Precious Metals Inc. announced its proven and probable mineral reserves decreased by 1.1 million tonnes of ore (a decline of 3.5 per cent), 204,000 ounces of gold (down 6.1 per cent), 515,000 ounces of silver (down 8.4 per cent) and 57 million pounds of copper (down 11 per cent) from estimates at the end of 2013.

Measured and indicated mineral resource tonnage is unchanged, containing a decrease of 181,000 ounces of gold (a decline of 3.7 per cent), a decrease in contained copper of 57 million pounds (down 7 per cent), and an increase in contained silver of 1,647,000 ounces (up 11.9 per cent).

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