Canadian issues that are moving on early news
QMX Gold Corp. said that in the second quarter of 2012, it had produced approximately 5,300 ounces of gold from its Lac Herbin Mine in Val-d’Or, Quebec and had produced 10,800 ounces of gold year to date. QMX rose nine per cent to 42 cents on Friday.
Alexco Resource Corp. reported silver production of 458,472 ounces during the second quarter of 2012. As the Bellekeno mine in the Keno Hill Silver District, Yukon continues its second full year of commercial production, lead and zinc production in the second quarter was 3.7 million and 1.3 million pounds, respectively, with 8.6 million and 2.9 million pounds produced year to date.
Hana Mining Ltd. , which was last trading at 52 cents, reported drilling results from the completion of six infill diamond drill holes at Zone 5 at its Ghanzi sediment hosted Copper-Silver Project in Botswana. The latest results continue to confirm the continuity of high-grade copper-silver mineralization at Zone 5.
OceanaGold Corporation , which jumped more than five per cent Friday, provided a progress report on the Didipio Project as well as the corporate re-financing initiatives previously discussed by the company.
EMED Mining Public Limited announced an operational update for the three-month period ending June 30, 2012. The full quarterly report, including consolidated Financial Statements and the Management Discussion and Analysis, will be issued on or about August 13, 2012.
Excellon Resources Inc. , which rose 3.5 per cent Friday, provided an update on “illegal action” at La Platosa Mine in Durango, Mexico.
Pure Multi-Family REIT LP , which is trading near year highs, announced it has entered into a binding purchase agreement for a Class A multi-family community consisting of 210 residential units located in the Dallas-Fort Worth area, for a total purchase of $22.6-million U.S. The purchase is scheduled to close on July 18, 2012.
Northern Iron Corp released results of Davis Tube (DT) metallurgy test work completed on 20 drill holes. The testing was completed in conjunction with the 2011/2012 drill program on the Karas property, Ontario. The whole rock analysis results from the tests performed by SGS Canada Inc. in Lakefield, Ontario indicate an average iron content of 98.1 per cent Fe2O3 (68.7 per cent iron) in the concentrates at a grind of 325 mesh with a silica content of 3.9 per cent SiO2.
Northstar Aerospace, Inc. announced that no qualified bids had been received by a court approved bid deadline, and accordingly, Wynnchurch Capital, Ltd. was the “successful bidder” under the bidding procedures. As previously announced, the asset purchase agreement provides for the sale of substantially all of the operating assets of Northstar for an aggregate purchase price of approximately $70-million, together with the assumption of certain liabilities, subject to customary adjustments.
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