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Midnight Trader

Today's small-cap stocks to watch Add to ...

Baja Mining Corp. lost more than a third of its value and hit year lows yesterday after announcing a cost increase of about $246-million, a 22 per cent increase over 2010 project funding requirements. Two directors, Wolf K. Seidler and Tom Ogryzlo, confirmed their resignation from the board on April 21.

Mirabela Nickel Limited , which dropped 4 per cent and hit year lows yesterday, announced its unaudited first quarter results for the period ended March 31, 2012. Highlights include production of 4,245 tonnes of nickel in concentrate (down 16 per cent from fourth quarter 2011: 5,029 tonnes due to lower mined nickel grade); sales of 4,155 tonnes of nickel in concentrate (down 19 per cent from fourth quarter 2011: 5,155 tonnes).

AbitibiBowater Inc., doing business as Resolute Forest Products announced the take-up of additional Fibrek shares and the extension of its $1 a share offer to May 4. Fibrek is also sought after by Mercer International , which offered $1.40, but also asked that Fibrek issue warrants to purchase shares at $1 apiece.

Opsens Inc. which closed yesterday's session at day highs, announced today the results for its second quarter, ended Feb. 29, 2012. Consolidated sales totalled $2.4-million, up from $1.3-million a year earlier. The quarterly loss was $675,000, compared with a loss of $669,000 a year earlier. The oil and gas sector had the best performance, with sales of $1.8-million.

Lignol Energy Corporation announced today that it has reached an agreement with a leading global coatings manufacturer for the sale of up to 10 tonnes of Lignol's proprietary HP-LTM lignin.

Elemental Minerals Ltd. which almost hit year lows amid yesterday's broad decline announced today that it has identified high grade potash in a third seam at its Kola Deposit, further expanding its footprint. The company also reported assay results that include high-grade sylvinite mineralisation in a seam previously known to contain only lower grade carnallite mineralisation.

Edgewater Wireless Systems Inc. which closed down 7 per cent yesterday, said today that it has entered into a channel partnership with Nomadix to combine the company's multi-channel WiFi access points with Nomadix' leading software.

CBM Asia Development Corp. which was close to year lows yesterday, announced today the final gas content results at the Kutai West Coalbed Methane Production, where the company holds an 18 per cent working interest. Scott Stevens, chairman of CBM Asia, said: "These final gas content results are significantly above our expectations."

Peregrine Diamonds Ltd. reported that it has discovered a third kimberlite this year in the Lac de Gras region, Northwest Territories. The kimberlite, named LD-3, was discovered at the third of four land-based geophysical targets drilled during the winter program.

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