New Dawn Mining Corp. , a junior gold company with an expanding base of assets and operations in Zimbabwe, filed its fourth quater and financial results for the year ended Sept. 30, 2011. Financial Highlights for Fiscal 4th Quarter Ended Sept. 30, 2011 were: $14.1-million in revenues from gold sales ($13.1-million attributable); $2.6-million in net income; $0.06 per share (basic and diluted); $3.2-million adjusted EBITDA; 8,814 ounces of gold produced (8,212 ounces attributable).
Key Forward Operating and Production Metrics and Targets included: operating cash flows being re-invested in Zimbabwe to fund 2012 expansion and development plans; 2,000 tonnes per day milling capacity at Dec. 31, 2011 and expanding; approximately 40,000 ounces annualized gold production expected at Dec. 31, 2011; 60,0000 ounces annualized gold production targeted at Dec. 31, 2012; 100,000 ounces annualized gold production targeted at Dec. 31, 2014.
Longview Oil Corp. , which rose 17 cents or 1.7 per cent yesterday, announced that the Board of Directors had approved operational guidance and a capital budget of approximately $73-million for the year ending Dec. 31, 2012. The following summarizes operational guidance for Longview for the year ending Dec. 31, 2012: Production 6,600 boe/d to 6,800 boe/d; percentage of oil & liquids 77 per cent; Exit rate 6,800 boe/d to 7,000 boe/d; production growth 8 per cent; Royalty rate 18-20 per cent; Operating expenses $16.00/boe to $17.00/boe; Capital expenditures $70-million to $75-million. Based on the mid-range of guidance, funds from operations for 2012 is estimated at $91-million. Commodity price assumptions include: WTI oil price of $94.09 (U.S.) /bbl, a Cdn/U.S. exchange rate of $0.96 and a Nymex natural gas price of $3.39 (U.S.) /mmbtu. Longview's commodity price hedging positions are included in the funds from operations estimate. Also, virtually 100 per cent of the capital budget is focused on oil or oil with liquids rich solution gas projects.
Futuremed Healthcare Products Corp. , which is trading close to a year high $8.27, and Cardinal Health Canada Inc., a wholly-owned subsidiary of U.S.-listed Cardinal Health, Inc., announced that the expiry time of the offer by Cardinal Health Canada to acquire all of the outstanding common shares of Futuremed for $8.15 (CAN) per common share in cash has been extended until Feb. 6, 2012, to allow the Canadian Competition Bureau to complete its review of the proposed acquisition. All other terms and conditions of the Offer remain as described in Cardinal Health Canada's Offer and take-over bid circular dated Nov. 14.
Magellan Aerospace , which touched a day low $2.65 yesterda, taking it close to a year low $2.53, announced that an agreement has been reached between GKN Aerospace and Magellan Aerospace (UK) Limited securing a contract extension to deliver aluminum and titanium components from Magellan's Bournemouth and Chalfont St Peter divisions. The components are destined to GKN's Filton facility, which manufactures and assembles wing structures. This contract is projected to generate revenues in excess of £200-million through to Dec. 2017.
Armtec Infrastructure Inc. , which rose more than 7 per cent on Tuesday, announced it has secured a number of rail infrastructure projects, valued at over $30-million, within the Greater Toronto Area. It said these projects were anticipated as part of the previously announced $50-million in new contracts that are expected to be booked during the fourth quarter.
Medworxx Inc. , a leader in clinical patient flow, compliance and education solutions that closed Tuesday near a year high 28 cents, announced a broad partnership with MediSolution, a wholly-owned subsidiary of Harris Computer Systems. The partnership formalizes a longstanding relationship between the two companies that worked to integrate their information technology solutions for several mutual hospital client sites. Under the agreement, Medworxx and MediSolution will explore synergies in sales and technology arenas.
Tanzanian Royalty Exploration Corp. today announced additional assay results from the ongoing drill program on its Buckreef Gold Project in the Lake Victoria Goldfields of Tanzania. The company said the latest results confirm the dip continuity of multiple, sub-vertical mineralized zones and include some of the most impressive values reported to date from the East Porphyry target area which is located 800m east of Buckreef Main deposit.
Absolute Software Corporation , which was at a 20-day SMA $4.51 at yesterday's close, announced that it has received approval from the TSX to commence a normal course issuer bid. The provider of firmware-embedded endpoint security and management for computers and ultra-portable devices said it is proceeding with a normal course issuer bid for over 3 million common shares, which represent approximately 10 per cent of the public float of the company.
Western Wind Energy Corp. announced that as of Dec. 20, 2011, Windstar became fully energized throughout the entire system. It said the turbines will now begin commissioning at the minimum rate of 8 to 10 MW per day, with all 106 MW expected to be fully online, before the end of the year. The remaining 14 MW have been delivered on site, all foundations have been completed and all of the base and mid towers have already been fully erected.
Northern Iron Corp. , which closed Tuesday near a year low 10 cents, announced that it has signed an agreement with Larry Herbert, a private individual, whereby the Company will acquire a 100 per cent interest in five mineral claims totaling 848 hectares. It said the Claims are adjacent to the past producing Griffith mine, situated east and south of the claims acquired by the Company in January, 2010. The Griffith mine produced iron pellets and sponge iron from 1968 to 1986 before being shut down due to uneconomic iron prices. In consideration for the 100 per cent interest in the claims, Northern Iron will pay the Vendor $6,000 in cash and issue 100,000 common shares of the Company at a deemed price of $0.30 per share.
Avion Gold Corporation announced today its updated mineral resourceestimation for the Hounde Project, Burkina Faso that includes all exploration drilling completed to date. The company said the current resource estimate for the Vindaloo zone at the Hounde Project represents a 1,400 per cent increase in Open Pit Indicated mineral resources from 883,000 tonnes Indicated Mineral Resources at 2.23 g/t Au totaling 63,000 ounces of gold to 13.41 million tonnes at 2.07 g/t Au for a total of 893,000 ounces of gold.
Drug delivery company IntelGenx Corp. , which was slightly above its 20-day SMA 49 cents at yesterday's close, announced today that it has entered into a co-development and commercialization agreement with Par Pharmaceutical, Inc. for a new productutilizing one of IntelGenx' proprietary oral drug delivery platforms. The company said under the terms of the agreement, Par has obtained certain exclusive rights to market and sell IntelGenx' product in the USA. In exchange IntelGenx will receive upfront and milestone payments, together with a share of the profits of commercialization.
Anaconda Mining Inc. today announced that it has sold 2,166 ounces of gold and generated $3.3-million in revenue at an average sales price of $1,751 per ounce, the highest quarterly average in the company's history. The company said the second quarter average sales price was approximately 11 per cent greater than the first quarter average sales price of $1,581 per ounce. President and CEO, Dustin Angelo, stated, "During the second quarter, the Company made some important modifications in the mill and used this downtime to do routine maintenance. These modifications were made in order to enhance overall mill availability with the potential to improve gold recoveries."