Canadian issues that are moving on early news
Endeavour Mining Corp. said it will buy Avion Gold Corp., which rose more than 5 per cent on Tuesday, for 88 cents per share or $389-million in an all-stock deal. Endeavour will provide a $20-million (U.S.) short-term exchangeable loan to Avion to restart the Tabakoto mill capacity upgrade, leading to further gold production growth to over 450,000 ounces per year when Agbaou reaches steady state production.
Meanwhile, Endeavour also reported a strong second-quarter result, with cash flow of $47.6-million from production of 50,728 ounces of gold.
Canaccord Financial Inc. which rose 6 per cent Tuesday, releases its fiscal first-quarter 2013 earnings results on Wednesday, August 8, 2012 after TSX market close.
Boralex Inc. said it ended the second quarter with an adjusted net loss attributable to shareholders of $5.5-million or $0.15 per share (basic and diluted) compared with $3.7-million or $0.10 per share (basic and diluted) for the corresponding period a year earlier.
Avigilon Corporation, which rose more than 3 per cent and hit new year highs Tuesday, expects to report its financial results for the second quarter on Wednesday, August 8 after the close of markets.
BIOX Corporation reported a third-quarter net loss of $3.27-million compared to $2.381-million in third quarter 2011. Loss per share was $0.07 in third quarter 2012 compared to $0.05 in third quarter 2011.