Canadian issues that are moving on early news.
Argonaut Gold Inc., which lost two per cent yesterday, announced that it had produced 24,123 gold ounces at its 100 per cent owned El Castillo Mine during its second quarter, ending June 30, 2012. The company also said third-quarter production is expected to improve over the previous quarter with the production of approximately 20-21,000 ounces of gold.
Dynacor Gold Mines Inc. said that in the month of June 2012, it had produced an all-time record of 5,327 ounces of gold, compared to its previous record in February 2012 of 4,747 ounces of gold – an increase of 12.2 per cent. During its second quarter the company produced 12,384 ounces of gold.
Redline Communications Group Inc., provider of specialized broadband wireless solutions, announced that it has received and shipped a $2-million order for their rugged industrial wireless system to an oil and gas company.
Aastra Technologies Ltd. reported that profit had decreased in the second quarter this year to $1.9-million or $0.15 diluted earnings per share compared with $6.1-million or $0.43 diluted earnings per share during the same period in 2011.
Sennen Resources Ltd. noted the announcement of Liberty Silver Corp.’s unsolicited offer to acquire the outstanding shares of Sennen for .28 of a share of Liberty Silver for each share of Sennen. Sennen’s board will consider the offer and how it will impact the interests of Sennen’s shareholders and other stakeholders. Liberty, which gained 5.5 per cent Tuesday, will hold a conference call at 4.30 p.m. ET today to discuss its takeover bid.
Holloway Lodging Real Estate Investment Trust announced it has terminated discussions with multiple parties regarding a strategic transaction after determining that the proposals it received were not in the best interests of Holloway or its unitholders. Holloway intends to continue executing on its current business plan while remaining open to any proposals regarding strategic transactions that would maximize unitholder value.
Armtec Infrastructure Inc. announced that it has achieved the Brookfield Covenants including the Senior Debt to EBITDA covenant as of June 30, 2012. The company also estimates that second-quarter reported EBITDA will be approximately $18-million with corresponding net earnings of approximately $1.5-million as compared to an EBITDA of $3.4-million and a net loss of $135.7-million in the second quarter of 2011. Armtec will release second-quarter 2012 results on August 8.
Nightingale Informatix Corp. said net loss was $0.3-million in both the fourth quarter of 2012 and 2011. Revenue was $5.4-million, up 23 per cent from $4.4-million in the fourth quarter of 2011, reflecting a significant increase in software revenue. Total fourth-quarter revenue was also up six per cent from $5.1-million in the third quarter of 2012.
NuLegacy Gold Corp.’s board of directors reported that it has appointed James Anderson as chief executive and a director of the company. Albert Matter, CEO since inception of the company, will serve as chairman.
Terrex Energy Inc., which is trading near year lows, provided an update on the activities of its special committee. It said: “The special committee and management are continuing to consider all possible strategic alternatives for the company for the purpose of maximizing shareholder value. Management has been in discussions with a select number of oil and gas and investment companies regarding possible investment or financing transactions. It is expected that this process will continue for some time and Terrex will provide further updates on this process once available.”