Migao Corporation (MGO-T) reported net income of $16.5-million or $0.31 per basic share from revenues of $402.7-million for the 12 months ending March 31, 2012. This is compared with net income of $33.9-million or $0.65 per basic share from revenues of $317-million last year. Net earnings were negatively impacted by the recognition of an impairment of $4.6-million for assets used in the production of sulphuric acid.
Ivanhoe Energy Inc. (IE-T) – which fell nearly 30 per cent and hit a year low of 44 cents Friday – announced that it knows of no reason for the decrease in the company’s share price late in the trading session on June 29, 2012.
Great Canadian Gaming Corporation (GC-T) announced that it has settled a long-standing dispute with a former Ontario-based consultant. The after-tax effect of this settlement will be a reduction of approximately $8.3-million to the company’s second-quarter net earnings.
First Uranium Corporation (FIU-T), which fell 6 per cent on Friday ahead of the Canada Day long weekend, reported fourth-quarter 2012 consolidated pre-tax profit of $23-million U.S. compared with a pre-tax loss of $80-million a year earlier. Also, First Uranium and Gold One extended the date for fulfilment of conditions precedent.
TAG Oil Ltd. (TAO-T), which jumped 15 per cent on Friday, reported a 300 per cent increase in reserves, 227 per cent increase in production revenue and strong financial results.
CounterPath Corporation (CCV-X) announced that its common stock will commence trading on the NASDAQ Capital Market on July 11, 2012.
Nordion Inc. (NDN-T) released an update to the ongoing arbitration process with Atomic Energy of Canada Limited (AECL) relating to the MAPLE facilities.
MedMira Inc., (MIR-X) recorded third-quarter revenue from product sales of $189,398, compared with $295,534 for the same period last year. The decrease was due to higher number of sales in third quarter 2011 from a one-time sale in the Africa market, along with weaker North American sales in third quarter 2012. Gross profit for the quarter was $131,393 compared with $148,651 in the same 2011 period.
Further to the company’s press release dated June 28th, 2012, Run of River Power Inc. (ROR-X) clarified that the License of Occupation received from the B.C. Ministry of Forests, Lands and Natural Resources Operations relates only to the general arrangements area of the company’s Skookum Power Project. The company is working to finalize the License of Occupation for the transmission line section of the project.
Manas Petroleum Corp. (MNP-X) provided an update on the progress of the exploration program in Mongolia, which is focused on drilling two wells in 2012, through its subsidiary Gobi Energy Partners LLC. The company has secured a rig to drill both wells, and announced that ranking prospects have identified Ger Chuluu A 1 as the first well. Drilling will commence in August.