The BC Hydro's Salmon River Diversion seen here October 13, 2011. Small B.C. Hydro dam known as the Salmon River diversion. The concrete structure, located about 58 kilometres from tidewater, diverts part of the river down a flume to the Campbell River watershed, where it helps generate hydroelectricity. .JOHN LEHMANN/The Globe and Mail
Canadian issues that are moving on early news.
Miranda Gold Corp. has formed a strategic alliance with Agnico-Eagle Mines Limited for precious metal exploration in central Colombia. Under the terms of the LOI, Agnico and Miranda share 70:30 in generative exploration expenditures with exploration activities conducted by Miranda.
Cardero Resource Corp. announced the receipt of additional drill results from Phase I drilling at its Sheini Hills Iron Project, Ghana. Results include the best intersection to date. CDU closed at 84 cents yesterday.
Boralex Inc. has signed a binding letter of agreement to acquire a 22 megawatt run of the river hydroelectric project. The project, located near Gold Bridge, British Columbia, will require investments of $60-million and will generate approximately 70 gigawatt hours annually.
OceanaGold Corporation provided an update regarding the recently signed Executive Order 79 by President Benigno S. Aquino III of the Philippines in regards to mining sector reform.
Tiger Resources Limited provided an update on the recent production performance of the Stage 1 HMS (heavy media separation) plant at its Kipoi Copper Project in the Democratic Republic of Congo (DRC). During the month of June 3,853 tonnes of copper was produced in concentrate, exceeding the previous record production achieved in March of 3,506 tonnes. Copper produced in concentrate for Q2 2012 was a record 10,233 tonnes.
Ur-Energy Inc., which is near year lows, announced the execution of a Share Purchase Agreement to acquire Pathfinder Mines Corporation which owns the Shirley Basin and Lucky Mc mine sites in the Shirley Basin and Gas Hills mining districts of Wyoming.
Ridgeline Energy Services Inc. said net loss for fiscal 2012 totaled $1.9-million, or a 3 cents per basic and diluted share compared to a net loss of $1.3-million or 2 cents per basic and diluted share in the prior year.
Pure Multi-Family REIT LP, which is at year highs, announced today it has entered into separate agreements to acquire two multi-family community apartment properties comprising 408 residential units on a combined basis located in the Dallas-Fort Worth Metroplex, for an aggregate purchase price of $24.6-million (U.S.).
Cipher Pharmaceuticals Inc. achieved quarterly net revenue in the second quarter of $1.6-million, a 124 per cent increase over Q2 2011. Net income in Q2 2012 was $200,000, compared with a loss of $500,000 in Q2 2011.
Gazit America Inc., which is trading near year high levels, announced consideration of $7.65 per share under its proposed arrangement with First Capital Realty Inc., which is also trading near year highs.