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The sign outside Scotia Plaza in Toronto shows the closing numbers of the TSX last week. (Matthew Sherwood/The Globe and Mail)
The sign outside Scotia Plaza in Toronto shows the closing numbers of the TSX last week. (Matthew Sherwood/The Globe and Mail)

Midnight Trader

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A look at Canadian issues moving on early news.

Nevsun Resources Ltd. (NSU-T), which closed down 2 per cent on Friday, announced production results of 87,000 ounces of gold for the quarter ending June 30, 2012. The company said gold production in the quarter was above expectations due to higher than anticipated grades in portions of the transitional oxide zone. It has reiterated its revised full year 2012 production guidance of 240,000 to 260,000 ounces of gold production.

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Talison Lithium Limited (TLH-T), down nearly 4 per cent on Friday, said it has sold 365,545 tonnes lithium concentrate during fiscal year, an 8 per cent increase compared with fiscal year 2011. In the fourth quarter, the company sold 98,113 tonnes lithium concentrate, a 6 per cent increase compared with the previous year.

Mandalay Resources Corporation (MND-T) announced record production and sales results for the second quarter of 2012.

Sandstorm Gold Ltd. (SSL-X), which fell 1 per cent from year highs Friday, announced that Metanor Resources Inc. (MTO-X), which dropped 6 per cent towards year lows Friday, has obtained the environment certificate of approval for commercial production at the Bachelor Lake Mine. Sandstorm also provided an update on the expansion at the Santa Elena Mine, operated by SilverCrest Mines Inc. (SVL-X).

Sandvine, (SVC-T) today announced that it has concluded a new supply arrangement with Alcatel Lucent relating to sales of Sandvine’s Network Policy Control solutions to a joint, multinational operator group customer. In connection with the agreement, Sandvine has received follow-on orders from five properties in the operator group worth approximately $2.5-million. The company expects that a portion of the revenue relating to these orders will begin to be recognized in its third quarter.

Cangene Corporation (CNJ-T) and Camurus AB announced today that they have entered into an agreement under which Cangene will have exclusive rights to commercialize episil in the United States for the management and relief of pain associated with oral lesions, including oral mucositis (OM), which results from cancer therapy and other causes. Cangene bioPharma plans to launch episil in the United States in October 2012.

EMED Mining Public Limited (EMD-T) announced details of an agreement with the owner of lands required for waste deposition at Rio Tinto Copper Mine and a proposed $5-million U.S. subscription.

South American Silver Corp. (SAC-T), which closed 2 per cent towards year lows Friday, provided a further update on recent events in Bolivia since the update on July 4th.

Poynt Corporation (PYN-X), which fell 75 per cent to year lows Friday, announced an update regarding the company’s notice of intention to file a proposal under the Bankruptcy and Insolvency Act of Canada.

Sunridge Energy Corp. (SRG-X), which rose 8 per cent and closer to a year high 30 cents Friday, reported that the company has appointed Scott Alanen as chief financial officer.

 

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