Hathor Expoloration may hit yet more record highs this week amid reports that Rio Tinto Group may still not have done enough to win a bidding contest for the company. Hathor touched $5.09 on Friday - compared to a 50 day SMA of $4.30 and a 200 day SMA of $3.10 - after the world's third-largest mining company raised its deal price to $4.70 a share. While the 65 per cent premium that Rio agreed to pay topped Cameco Corp.'s hostile bid, arbitragers that pushed Hathor to an all-time high are now betting that Cameco will increase its offer for a second time, according to data compiled by Bloomberg.
Agnico-Eagle Mines Limited and Grayd Resource Corporation announced that 91,228,900 common shares of Grayd, representing approximately 94.77 per cent of the outstanding Shares on a fully-diluted basis, have been validly deposited pursuant to the offer made by Agnico-Eagle to acquire all of the issued and outstanding Shares. All conditions of the Offer have been satisfied and the Offer has now expired and will not be extended. Grayd intends to apply to the British Columbia Securities Commission to request an exemption from certain continuous disclosure obligations pending the completion of the compulsory acquisition, including the requirement to prepare, file and mail to Grayd shareholders Grayd's annual and interim financial statements and related materials.
Sea Dragon Energy Inc. announced its 2011 third-quarter financial and operating results. All dollar values are expressed in U.S. dollars unless otherwise stated. Highlights included: achieved an average production rate of 1,066 bopd as compared to 1,190 bopd in third quarter of 2010; improved results with Net Income for the Quarter of $1.1-million compared to a loss of $0.8-million in the third quarter of 2010; operating cost for the Quarter was $(1.62) /bbl due to a reclassification, compared to $7.56 /bbl in the third quarter of 2010.
MOSAID Technologies Incorporated announced that it has obtained an interim order from the Ontario Superior Court of Justice approving various matters in connection with the special meeting of MOSAID shareholders. At the special meeting MOSAID shareholders will be asked to consider the proposed arrangement transaction pursuant to which Sterling Partners will acquire all the outstanding common shares of MOSAID for a cash payment of $46.00 per share. The court also approved the mailing of the notice of special meeting of shareholders, the management information circular, the form of proxy and the letter of transmittal, which MOSAID intends to complete during the week of Nov. 21, 2011. MOSAID also announced that on Nov. 17, 2011 an advance ruling certificate was received from the Commissioner of Competition confirming that the Commissioner does not intend to challenge the proposed arrangement under the provisions of the Canadian Competition Act. MOSAID and Sterling expect to file a Pre-Merger Notification and Report Form with the Antitrust Division of the United States Department of Justice and the United States Federal Trade Commission early in the week of Nov. 21, 2011.
Aecon Group Inc. announced today that its Lockerbie and Hole Eastern Division has signed a letter of intent with the Potash Corporation of Saskatchewan Inc. for a project valued at over $250-million to install the interior of a new process mill at the PotashCorp mine site near Rocanville, Saskatchewan.
Hemisphere GPS Inc. , which has been trading near a year low 58 cents, announced today that it has expanded its multi-year OEM agreement with Navico Inc., the world's largest marine electronics company. The GPS products maker said is supplying Navico with the industry's smallest (42 cm) GPS compass, which will be privately branded Simrad HS70.
Child-care center operator Edleun Group Inc. this morning reported that third-quarter revenues rose 115 per cent compared with the same period in 2010 to $4.88-million but the net loss for the period climbed 75 per cent, expanding to $947,000 during the three months ended Sept. 30 from a $406,000 loss in the year-ago quarter.
BonTerra Resources Inc. announced today it has received assays for 3 drill holes from the 2011 drill program on its Eastern Extension property. The company said drill hole BA-11-32 demonstrated persistent gold mineralization present in a series of mineralized quartz veins. Two of the mineralized veins host visible gold.
CML Healthcare Inc. announced today that its Board of Directors has declared November, 2011 cash dividend of $0.0629 per common share to shareholders of record as at the close of business on Nov. 30, 2011, payable on Dec. 20, 2011.
Foundation Resources Inc. announced today that it has adopted a shareholder rights plan designed to encourage the fair treatment of its shareholders in the event of an unsolicited take-over bid for shares of the company. The company said that under the rights plan, each holder of record of the outstanding common shares of the company at 5 p.m. (PST) on Nov. 18, 2011 will be issued one right per common share.
RS Technologies Inc. this weekend hired Howard Elliott as president and CEO of the composite building materials manufacturer, taking over from Paul Giannelia who had held those positions since June 2007. Elliott joined RS in May 2008 as chief operations officer after more than 20 years of experience in executive positions at companies in the United States and Asia.
ShaMaran Petroleum Corp. announced its financial and operating results for the three months ended Sept. 30, 2011. The company said it posted a net loss of $2.8-million during the quarter, up sharply from the previous year's $750,000. Cash balance was $28.6-million as at Sept. 30th, 2011, also down from last year's $58.7-million.