Monument Mining Ltd. , which was 1 per cent higher at yesterday's close, today announced its third-quarter results. The company said revenue was $12.4-million generated from gold sales of 7,301 ounces. Net operating income was $8.4-million, or $0.04 per share, compared to $10.3-million, or $0.06 per share, for the same quarter in fiscal 2011.
Hydrogenics Corp. , which closed almost 10 per cent higher yesterday in moving closer to year highs, today announced that it has received an order from E.ON for a "Power-to-Gas" project in Germany. The two megawatt energy storage facility, to be located in Falkenhagen in northeast Germany, will use surplus renewable energy sources to produce hydrogen for storage in the country's existing natural gas pipeline network.
Wescast Industries Inc. , which closed down by 5 per cent yesterday, announced today that it has entered into an agreement to be acquired by Sichuan Bohong Industry Co., Ltd. where Bohong would acquire 100 per cent of the issued and outstanding capital of Wescast. Bohong provided Wescast with a $2-million deposit.
Skope Energy Inc. , which hit year lows yesterday, announced today the results of its independent reserve evaluation as at March 31, 2012. Forecast prices used in the calculation of net present value of future net revenue are based on McDaniel's April 1, 2012 price forecast.
In-store media provider Mood Media Corporation announced the acquisition of BIS Group, a provider of audio-visual services in Europe, for €22.5-million in cash.
Cequence Energy Ltd. , which dropped 3 per cent to near a year low $1.20 on Thursday, and Open Range Energy Corp. , which dropped 1 per cent to near a year low 99 cents, announced they have entered into an arrangement agreement whereby Cequence has agreed to acquire all of the issued and outstanding common shares of Open Range. Based on the five-day weighted average trading price of Cequence shares on the TSX for the period ending May 30, 2012, the Exchange Ratio implies a value of approximately $103-million for all of the issued and outstanding Open Range Shares, and a value of $1.37 per Open Range Share.
Aurcana Corp. reported that surface drilling has intersected a strong high grade zone between mining blocks in the '5200 area', providing support for potential continuity of ore in Block 3, currently under development.
CanAm Coal Corp. said first-quarter sales were 67,153 tons as compared to 30,655 tons in the prior year, or coal sales more than doubled. The increase is mainly the result of the acquisition of a 50 per cent ownership in BCC which was effective May 1, 2011.
TVI Pacific Inc. today announced that its wholly-owned subsidiary TG World Corp. along with SC 54A Joint Venture partners Nido Petroleum Philippines Pty Ltd., Trafigura Ventures III B.V. and Yilgarn Petroleum Philippines Pty Ltd., signed a memorandum of agreement with Viking Energy Holdings 2 Ltd. to develop three oil fields in SC 54A.
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