Clearwater Seafoods Income Fund announced that it has implemented a unitholder rights plan. It said the plan is designed to ensure that all of the fund’s unitholders are treated fairly in the event that a takeover bid is made for the trust units of the fund and that sufficient time and rights are available for the fund’s board of trustees and all unitholders to fully evaluate any offer and pursue alternatives to maximize unitholder value. Clearwater Seafoods in mid-August jumped to its highest levels in about three years after confirming that its board of trustees received a bid worth close to $100-million from family-owned Cooke Aquaculture Inc., which already held more than 20 per cent of the fund’s units and more than 10 per cent of the voting rights. It offered $3.50 a unit.
Transat A.T. Inc. , an integrated international tour operator with an existing year low of $8.05, announced Monday that it is expanding its presence in Ontario by offering a full range of escorted and independent tours to a wide array of exotic and long haul destinations all around the world, including in Asia, Africa, Eastern Europe and Latin America. The company said this new offering “is about leveraging the expertise we have accumulated over the years in Quebec and in France, where we have been offering these same destinations for many years.”
Manson Creek Resources Ltd. has added a quarter to its value with more than 1.2 million shares already traded on the TSXV after it announced geochemical results confirming that the Crystal Springs, Ash Springs and Area 51 natural spring gossan discoveries on the company’s Tell property are strongly mineralized. In addition, it said recent follow up work on these gossans has led to the discovery of three additional natural spring gossans; Majestic, Corona and Roswell. It added results from property wide stream sampling conducted earlier this year have outlined two new, previously unknown, geochemical anomalies that have a similar geochemical signature to the Tell gossan. Manson Creek’s Tell property is located immediately south of ATAC Resources Ltd. Rau claims, in the Yukon, and the presence of mineralized gossans is considered very significant as the ATAC Ocelot discovery was made by targeting a natural spring surface gossan with associated strongly anomalous zinc and lead sample results.
Galway Resources Ltd. announced assay results from an additional three diamond drill holes and the completion of results from two others at its Vetas gold project, host of the El Volcan gold mine, located eight kilometres southeast of the company’s California gold project in northeastern Colombia. It said the multiple veins targeted in the current drill program have, in just six holes, returned 26 gold assays of 5 g/t or more, 16 assays of 10 g/t or more, 10 assays of 25 g/t or more and 5 assays of 50 g/t or more. “The focus of Galway’s initial exploration efforts at Vetas is to test for a continuation of mineralization below the existing 500 meter by 300 meter El Volcan mine, which has been operating for over 400 years and is the largest gold mine in the California-Vetas-Surata gold districts,” it said.
Strongco Corporation , one of Canada’s largest multi-line mobile equipment dealers, said Monday that its U.S. business unit, Chadwick-BaRoss, has been granted distribution rights for Terex Finlay mobile crushing, screening and washing equipment in Connecticut, Maine Massachusetts, New Hampshire, Rhode Island and Vermont. This equipment, together with related mobile screeners and washing machines, are internationally renowned for their versatility in the reduction and sizing of aggregates for construction materials and also in recycling construction waste.
Largo Resources reported the results from the first 5 drill holes of the diamond drill program at its Maracas Vanadium-PGM property in Brazil. The company said the results of the drill program “continue to confirm our high grade vanadium values at depth as well as to define new zones...these initial results will be important in significantly increasing the size of the resources.”
Enercare Inc. , which owns a portfolio of approximately 1.3 million installed water heaters and other assets, announced on Monday a cash dividend of $0.054 per common share for the month of August 2011. The dividend will be payable on September 30, 2011 to shareholders of record at the close of business on August 31, 2011.
Etrion Corporation , a company that acquires, develops, builds, owns and operates solar power plants, announced the completion of the Nettuno solar park in Italy, which was ahead of schedule. The Nettuno park has a total capacity of 2.6 megawatts and is expected to produce more than 3.5 million kilowatt hours of clean electricity and approximately €1.0-million ($1.4-million) of EBITDA per year.
Teslin River Resources jumped away from near a year low of 5 cents after announcing the results of an eight drill-hole reverse circulation drill on the Mustang property. The early stage exploration company said results included 7.6 metres of 2.76 grams per tonne gold within 12 metres of 1.71 grams per tonne gold in M11–06 and 12 metres of 0.75 grams per tonne gold from M11-05. These intercepts indicate the presence of a new precious metal discovery on the property.
Goldrush Resources announced Monday that it has signed option agreements to earn 100 per cent interests in four highly prospective exploration permits which are adjacent to producing gold mines and recently discovered deposits in Burkina Faso, a significant emerging gold producer on the African continent. The mineral exploration company said it now controls an area of over 2,000 square kilometers of West African Birimian greenstone belts.
Endeavour Mining announced that it has entered into a definitive merger implementation agreement with Adamus Resources Limited ADU-X to combine through an all-stock merger of equals transaction creating a new, growth focused West African gold producer. Endeavour intends to invest at least $160-million (U.S.) from its current cash balance to relieve the constraints of Adamus’ Nzema project finance structure.
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