Cominar Real Estate Investment Trust announced that it has received today a "no-action" letter from the Commissioner of Competition confirming that the Commissioner does not intend to challenge the acquisition by its wholly-owned subsidiaries of all of the Units of Canmarc Real Estate Investment Trust . Cominar is now in receipt of all necessary regulatory approvals to proceed with the completion of the acquisition. Canmarc announced that it will immediately suspend the operation of its distribution reinvestment plan.
Torex Gold Resources Inc. , which lost nearly 3 per cent Thursday, announced its financial results for the year ended Oct. 31, 2011. The net loss for the year increased to $27.3-million compared with a net loss of $16.4-million for 2010. Exploration and project development expenditures totalled $24.6-million compared with $5.9-million in 2010. The company's cash position decreased by $26.5-million during the year ended Oct. 31, 2011 compared with an increase of $58.3-million in 2010.
Crocodile Gold Corp. provided its outlook for 2012 production as well as discuss major plans for the year ahead. In terms of guidance, management expects its mines to produce between 75,000 and 85,000 ounces of gold at a cash cost of $1,100 to $1,300 (U.S. )per ounce, with the majority of production to come from the Cosmo Mine.
AlarmForce Industries Inc. , a manufacturer and installer of live two-way voice home alarms systems, announced annual results for the year ended Oct. 31, 2011. Annual net growth rate in total subscriber base was 9 per cent, resulting in record total revenues of $40.9-million, with an increase of $3.7-million or 10 per cent per annum. But earnings per share decreased from 39 cents per share to 28 cents per share, and net income decreased by 29 per cent, from $4.8-million to $3.4-million in 2011.
Yukon-Nevada Gold Corp. , which is trading near year lows, announced that it has completed construction work on a new ore dryer and fine-crushing conveying system as well as maintenance upgrades to the roasting facility at its wholly-owned Jerritt Canyon gold operation in Nevada, USA.
Norbord Inc. today reported earnings of negative $11-million (U.S.) or $0.25 per share for the full year compared to earnings of positive $13-million (U.S.) or $0.30 per share (basic) in 2010. The company recorded earnings of negative $9-million or $0.21 per share in the fourth quarters of both 2011 and 2010.
Amerigo Resources Ltd. announced today production results for the fourth quarter of 2011 from Minera Valle Central and its 2012 production guidance. The company said MVC produced 12.09 million pounds of copper and 195,729 pounds of molybdenum during the three months ended Dec. 31, 2011, for a total of 43.7 million pounds of copper and 785,068 pounds of molybdenum for the full year. The company believes 2012 production should meet or exceed its targets of 50 million pounds of copper and close to one million pounds of molybdenum.
Scorpio Mining Corporation today announced production results for 2011 and guidance for 2012. The company said the 2011 production results for the Nuestra Senora mine in Mexico confirm a second successive year of silver production growth for the corporation. Production of all key metals increased substantially over 2010, as mine metal output, plant throughput and recoveries improved. The company has also increased its budget accordingly to approximately $9.3-million for 2012 to take advantage of the significant exploration potential."