SGX Resources Inc. , which dropped 5.5 per cent on Wednesday, announced that it has completed the acquisition of five mineral claims located in the Porcupine Mining Division, District of Cochrane, Ontario from Randall Salo. The consideration paid by SGX to Salo for the Salo Mineral Claims is 100,000 common shares of SGX and $10,000 in cash. The Salo Mineral Claims are also subject to a 2 per cent net smelter royalty in favor of Salo. SGX also announced that it has completed the acquisition of four mineral claims located in Sothman township in the Porcupine Mining Division, District of Cochrane, Ontario from Daryl Bremner. The consideration paid by SGX to Bremner for the Bremner Mineral Claims is 120,000 common shares of SGX and $2,000 in cash. The Bremner Mineral Claims are also subject to a 2 per cent net smelter royalty in favor of Bremner.
Almaden Minerals Ltd. reported results from exploration programs, regional and project specific, carried out by the Company outside on its 100 per cent owned Tuligtic project. In 2011 the Company was primarily focussed on an expanded drill program at the Ixtaca gold-silver zone of the Tuligtic project where 86 holes were drilled for a total of 31,016.64 meters. Despite the focus at Tuligtic the Company continues to prospect for new projects and has also been advancing other projects already in Almaden's large property portfolio.
Avatar Energy Ltd. , which is trading near to a year low 12.5 cents, announced that it has entered into a joint venture agreement with a major Pembina Cardium player to jointly develop its east Pembina acreage. It anticipates spudding the first joint well in the first quarter of 2012. Avatar also provided an update on its previously announced non-brokered private placement financing. It said aggregate gross proceeds from the financing will be approximately $174,500 subject to final acceptance by the TSX Venture Exchange.
ProSep Inc. , a company that provides process solutions to the oil and gas industry, announced today that it has recently secured various contracts with existing customers amounting to $2-million. The company said the contracts are for the design and supply of new equipment including a produced water treatment system valued at $0.7-million and additional parts and change orders related to two different gas treatment projects. Jacques L. Drouin, President and CEO, said: "These recent contract awards bring our year-to-date total orders signed to $48 million, twice last year's orders."
Battery manufacturer Electrovaya Inc. announced late Wednesday its financial results for the fourth quarter ended Sept. 30, 2011. The company said it ended the quarter with a net loss of $399,000 compared to the previous year's $501,000. This was after revenues rose to $2.6-million from $1.7-million in the same period last year.
Colabor Group Inc. , distributor of food and non-food products, said today that it has signed an agreement to purchase the assets of Viandes Decarie Inc., a leading wholesaler and distributor of meat and meat products. The company said this transaction, its second in less than 12 months in the "center of the plate" meal solutions category, will enable it to broaden its product offering and expand its customer base. Gilles C. Lachance, Colabor President and Chief Executive Office, said: "This transaction will further enhance our offering in a growth niche and will allow us to increase our sales to existing customers while penetrating the specialty butcher market."
Residential landlord Killam Properties , which is trading near a year high $11.59, announced today the expansion of its Ontario apartment portfolio with the purchase of a 25 per cent ownership interest in the newly constructed 180 Mill Road Apartments, a 127-unit complex in downtown London, Ontario. The company said the purchase price of 180 Mill Road was $33.3-million ($262,200 per suite), with its 25 per cent ownership interest being $8.325-million.
Lupaka Gold Corp. announced today that it has received assay results on five additional drill holes from the ongoing drilling program being carried out this year on its Crucero Gold Project in southern Peru. The company said the most northerly hole, DDH-50 reported 42 meters grading 1.92 g/t including an intercept of 17.0 meters at 3.31 g/t at a true depth of 75 meters from surface. This is significant because it indicates a continuation of strong mineralization to the north of the previously reported A-1 Zone gold envelope.
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- Updated January 18 3:59 PM EST. Delayed by at least 15 minutes.