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Canadian gold miner Northgate Minerals has hit its highest level in more than four years after agreeing to be bought by AuRico Gold for $1.46-billion. In so doing, Northgate walked away from another deal that would have seen it buy Primero Mining , which has dropped closer to a year low $3.03. AuRico's offer of 0.365 shares per Northgate share, valued each Northgate share at $5.01, a premium of more than 60 per cent to Friday's close.

Hathor Exploration continues to make some gains and remains close to three year highs but was hit Friday when uranium producer Cameco said it planned a $520-million hostile takeover bid for Hathor after talks aimed at a friendly deal failed. Some analysts don't expect a bidding war for Hathor, as was initially mooted. Daniel Rohr at Morningstar said: “If consummated, the Hathor deal would add to Cameco's already impressive growth platform, which presently targets an increase in uranium production volume from 22.8 million pounds in 2010 to 40 million by 2018. Importantly, Hathor's key asset, the Roughrider exploration property, is situated reasonably close to Cameco's key properties and existing infrastructure in Saskatchewan's uranium-rich Athabasca Basin, which could set the stage for operational efficiencies that would make Roughrider more valuable in Cameco's hands than it would be on a stand-alone basis.”

Gran Colombia Gold Corp. is moving further away from a year low of 73 cents after it announced drilling results from a further 51 drill holes totalling 18,009 metres from its diamond drilling program at the Marmato gold project in Colombia. It said these results, plus all previously announced results, will be reflected in an updated NI 43-101 mineral resource estimate, expected to be announced in the coming weeks.

Azure Dynamics Corporation , involved in the development and production of hybrid electric and electric components and powertrain systems for light and medium duty commercial vehicles, is edging away from near a year low of 10.5 cents after announcing today that its Norwegian Ford dealership has signed an order for an additional 100 Transit Connect Electric vans. The original order, in March of this year, was for 58 units for various clients, among them Norway Post. No financial details were provided.

OPTI Canada Inc. announced over the weekend that the company's listing application for the TSX Venture Exchange has been approved. The common shares of OPTI will commence trading on the TSXV effective upon the open of trading on Aug. 29, 2011. The company's listing on the TSXV followed OPTI's delisting from the Toronto Stock Exchange effective at the close of market on August 26, 2011 for failure to meet the continued listing requirements of the TSX as a result of OPTI's proceedings under the Companies' Creditors Arrangement Act announced on July 13, 2011. OPTI said its listing on the TSXV will not affect the payment equal to $0.12 (U.S.) per common share as outlined in the company's transaction announcement on July 20, 2011. The transfer of shares from the TSX to the TSXV will occur automatically for existing common shareholders.

Starfield Resources Inc. has edged higher and away from near a year low 3.5 cents after announcing today that it has received and accepted the resignation of its chief eExecutive Officer, Mr. Andre Douchane, effective Nov. 30, 2011. The company said it will be looking for a replacement in due course.

Nordic Oil and Gas Ltd. on Friday announced the company's financial results from operations for the three-months period ended June 30, 2011. Its net comprehensive loss for the three months ended June 30,2011 before income taxes was $431,785, compared to a loss of $432,890 recorded during the same period a year ago. When applying deferred taxes, the second quarter loss was $342,672, as opposed to $329,581 for the second quarter of 2010. Loss per share for the second quarter was $0.00. It said the increase in the second quarter 2011 loss can be attributed to an impairment charge of $464,284 in depletion and amortization with respect to its Talbot Lake property – a non-cash item – which is included in depletion and amortization for the six months ended June 30, 2011.

Paladin Labs Inc. , a Canadian diversified specialty pharmaceutical company, today reminded shareholders of Afexa Life Sciences Inc. of the benefits of Paladin's offer to acquire any and all of Afexa's issued and outstanding shares for $0.55 per share.

“Our offer provides immediate fair value, liquidity and certainty for Afexa shareholders. The Afexa board's response in its Directors' Circular is largely based on management's expectations and assertions about the future performance of Afexa,” Mark Beaudet, interim president and chief executive officer of Paladin, said in a statement.

“When considering the Paladin Offer and the Afexa Board's recommendation, shareholders should examine Afexa's actual track record. Afexa has consistently failed to meet the targets that its management has provided to investors.”

Crosshair Exploration & Mining Corp. has delivered a proposal to Australian American Mining Corporation Limited for the acquisition of AusAm's United States uranium assets, namely the Apex/Lowboy Project, Lone Star Project and Rio Puerco Project. Crosshair has written directly to AusAm shareholders to outline their proposal and call on shareholders to support Crosshair's efforts to unlock the value in AusAm. Under the proposal, AusAm would receive consideration of $12.85-million (U.S.) for the AusAm Uranium Assets payable in Crosshair shares. In return, Crosshair would acquire the AusAm Uranium Assets and be responsible for progressing them and enhancing their value.

“To date, the AusAm Board has failed to meaningfully engage with Crosshair in a substantive discussion for a proposal and has sought only to delay this proposal from moving forward. In Crosshair's opinion, despite owning some highly prospective uranium assets in North America, AusAm's Board has failed to adequately capitalise on the exploration and development of its assets. More worryingly, the AusAm Board does not have a realistic plan to halt the value destruction being experienced, despite demanding shareholders issue them options and pay them substantial salaries. Crosshair has lost confidence in the AusAm Board and its ability to deliver shareholder value. Crosshair believes AusAm shareholders are being denied the benefit of the true value locked up in AusAm. Crosshair thinks AusAm shareholders deserve better.”

Huntingdon Real Estate Investment Trust today announced that the REIT and its affiliated entities have entered into an agreement for the conversion of the REIT from an income trust structure to a corporation. It said the conversion will be presented to unitholders for approval at a special meeting of the REIT on Sept. 26, 2011. If approved, the conversion will result in the reorganization of the REIT into a new corporation incorporated as New Huntingdon.

Fission Energy Corp is up more than 10 per cent and is the most heavily traded on the TSXV early this morning amid reports that it might benefit from Cameco's takeover bid for Hathor Exploration. “We believe this bid from Cameco is the positive catalyst many have been waiting for to reignite interest in the uranium space,” equity research firm Versant reportedly said. Fission's Buy rating has reportedly been reiterated by Versant.

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