Canadian issues that are moving on early news.
Intermap Technologies, which climbed 16 per cent yesterday, announced that it has received a $368,000 (U.S.) contract for the creation of a new elevation data set for the Malaysian Government. The imagery and elevation data will be used for mapping and infrastructure development in Malaysia.
Halo Resources Ltd. announced drilling results at the West Red LakeProject on the Pancake Bay. The two zones of anomalous gold values encountered in BL12-038 warrant further investigation as similar elevated gold values were associated with high-grade gold values in quartz veins that occupy cross-cutting structures in the BIF.
Online Energy Inc. provided an update on the completion and testing of its Paddle River 1-5-55-7W5M Ostracod horizontal oil well. The company anticipates the well will commence production by Sept. 1, 2012 at an initial rate of approximately 400 boe/d (80 per cent oil and Ngls).
Alaris Royalty Corp. reported net income of $4.16-million for the second quarter of 2012. In the same period last year, net income was $22.7-million. Revenues rose 40 per cent to $7.34-million.
Excellon Resources Inc. provided an update on the status of the illegal action at the company’s La Platosa mine.
Tiger Resources Ltd. reported its activities from the company’s projects in the Democratic Republic of Congo for the June 2012 quarter.
Elemental Minerals Ltd., which is trading at year lows, announced the completion of the phase 2B drill programme. Further assay results have also been received from boreholes at the company’s Kola potash deposit.
Verde Potash, which rose more than 5 per cent on Thursday, provided an update of recent company activities and the appointment of two new management personnel to advance the Cerrado Verde Project.
Shona Energy Company, Inc. has elected to be a non-consenting party under the terms of its joint operating agreement and relinquish its rights to the Boa Oeste 1X well, in addition to any future development area for the well. Shona will retain its 36.5 per cent working interest in the rest of Block 102.
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