Canadian issues that are moving on early news.
Halo Resources Ltd. said that, as a result of Hays Lake Gold’s decision to terminate its option to earn a further 24 per cent interest in the Duport Property, the company is determined to relinquish its entire interest in the property. The company expects to record a pre-tax write-down of approximately $4-million.
Vitran Corporation Inc. reported revenues of $213.1-million for the second quarter, ending June 30, 2012, with a net loss of $4.2-million, or $0.25 per share. In the same period last year, revenues were $208.9-million with a net loss of $2.3-million, or $0.14 per share. Vitran was last trading at $5.77.
Blue Gold Mining Inc. announced the start of the 2012 exploration program at the Ball Creek Project in northwestern British Columbia. The company recently acquired the option to earn a 65 per cent majority interest in the project from Paget Minerals Corp.
NMC Resource Corp. announced a successful production increase at its NMC Moland mine in South Korea. During the second quarter of 2012, the daily throughput reached 1,109 tonnes, a 27 per cent increase compared with 876 tonnes in 2011. The throughput increase exceeded the target by seven per cent. For the same period, the company produced 199 tonnes of molybdenum concentrate, a 15 per cent increase compared to 172.5 tonnes, quarterly average of 2011.
PRD Energy Inc., which rose nearly two per cent yesterday, announced that its wholly owned subsidiary, PRD Energy GmbH, has entered into definitive agreements with GDF SUEZ E&P Deutschland GmbH to farm into the Boerger-Werlte oil pool located in Lower Saxony, Germany.
Karnalyte Resources Inc., which jumped six per cent on Wednesday, announced that it has received a positive preliminary feasibility study for magnesium co-products, portions of which are included in a new National Instrument 43-101 compliant technical report defining reserves and resources of its Wynyard Carnallite project.
Aura Minerals Inc., which rose near 12 per cent Wednesday, announced it has received the results of the preliminary economic assessment study on a mine and mill expansion at its wholly-owned Aranzazu copper project in Zacatecas State, Mexico.
Azumah Resources Ltd., which is trading at year lows, reported that interim drilling results at its Wa Gold Project’s Julie deposit have confirmed that mineralization extends to at least 100 metres below surface. Julie Mineral Resources are presently 386,000oz measured and indicated and 181,000oz inferred based on drilling to a maximum depth of 50 metres. The recent drilling results indicate a possible upgrade in Julie later this year and, subject to a number of economic parameters, a possible deepening of current optimized pits.
Hemisphere GPS issued preliminary second quarter financial results along with its second quarter reporting date and conference call details. The company also lowered its 2012 revenue forecast.
Mundoro Capital Inc. announced a strategic investment in the company to be made by the Sheridan Platinum Group Ltd. It also provided a Serbia exploration program update, announcing that the stream sediment sampling program has been progressing over the first six granted, 100 per cent owned, exploration license areas.