Taseko Mines Limited , which lost 1 per cent yesterday, announced fourth-quarter production of 22.3 million pounds of copper and 388,000 pounds of molybdenum for its 75 per cent owned Gibraltar Mine. Total production for the 12 months ended Dec. 31, 2011 was 82.9 million pounds of copper and 1.3 million pounds of molybdenum. Taseko's 75 per cent share of copper sales was 15.4 million pounds for the fourth quarter and 60.5 million pounds for the year, on a payable basis.
Lone Pine Resources Inc. , which lost 2 per cent on Monday, today announced its capital budget and guidance for 2012, which will focus almost entirely on light oil opportunities within the company's deep portfolio of assets. Lone Pine has elected to pursue a 2012 capital program designed to maintain financial flexibility while focusing on high margin light oil projects. Lone Pine intends to invest $200-$220-million in 2012 and anticipates this capital budget will be approximately 1.1x forecasted adjusted discretionary cash flow.
Belden Inc., a global leader in signal transmission solutions for mission-critical applications, has applied to the Ontario Securities Commission for an order to cease trading with respect to the shareholder rights plan recently adopted by the board of directors of RuggedCom Inc. - which hit year highs yesterday - in response to Belden's all-cash offer of $22 per share to acquire RuggedCom.
PetroMagdalena Energy Corp. , which gained nearly 6 per cent on Monday, announced that the operator has decided to suspend the Yaraqui-1X well, located in the Topoyaco block, as tests over indicated log pays resulted in uneconomic heavy oil flows. The company has a 50 per cent beneficial working interest in Topoyaco and Pacific Rubiales Energy Corp. holds the remaining 50 per cent beneficial working interest and is the operator for this block, in both cases subject to ANH approval.
Aurion Resources Ltd. , which dropped nearly 4 per cent yesterday, announced the signing of a Letter of Intent with Golden Minerals Company whereby Aurion will have the right to earn a 100 per cent interest in the El Teyra and Rubi-Esmeralda gold projects in Mexico. The acquisition is subject to exchange approval.
EmberClear Corp. announced its subsidiary, EmberClear Reserves Inc. has entered into an option agreement to purchase property with Swatara Coal Company. The property is located in Reilly Township, Schuylkill County, Commonwealth of Pennsylvania, and consists of approximately 350 acres. EmberClear Reserves has been granted access to the property to conduct studies to determine the suitability of the property for supporting project plans.
DeeThree Exploration Ltd. today announced the results of its fourth horizontal Belly River well in its Brazeau property. The company said it is very pleased with the results from its Brazeau Belly River development program, more than doubling the production potential from the field with the four wells it has drilled to date. It has continued to improve its drilling results through increased geotechnical knowledge and operational efficiencies. As a result of its success in the area, the company said it will increase the pace of the development of the property by bringing in a second rig by the end of January 2012.
Endeavour Silver Corp. today announced record-setting silver and gold production from its 2 operating silver mines in Mexico, the Guanacevi Mine in Durango State and the Guanajuato Mine in Guanajuato State for the fourth quarter, 2011. The company said fourth-quarter silver production was up 25 per cent to 1.1 million ounces and gold production was up 45 per cent to 7,045 ounces compared to the previous year.
Zone Resources Inc. announced today the results of diamond drill hole ZR11-08 on the company's Girard iron ore property in the Labrador trough of northern Quebec. The company said the hole intersected iron formation with an average of 35.77 per cent iron over 243.00 meters. Charles Desjardins, President and CEO said: "With numerous magnetic anomalies over an aggregate length of 75 kilometers, we plan to focus Zone's initial 2012 drill program at Girard."
Xebec Adsorption Inc. announced today that it has made significant commercial progress in the natural gas infrastructure market in Central and South East Asia during the fourth quarter of 2011. The provider of biogas upgrading, natural gas and hydrogen purification solutions said has recently received first orders from three new customers valued at C$540,000 for its NGX line of natural gas dryers for use in compressed natural gas refueling stations in Uzbekistan, Kazakhstan, Afghanistan and Thailand.
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