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Midnight Trader

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Canadian issues that are moving on early news

Horizonte Minerals Plc announced today the results from the preliminary economic assessment study on its 100 per cent owned Araguaia nickel laterite project. The company said the results have exceeded its expectations and demonstrates that the project has two potential viable process routes that generate robust post tax net present values with solid rates of return.

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Ridgemont Iron Ore Corp. said it has intersected “significant” intervals of iron mineralization in a number of drill holes completed to date on its wholly-owned Lac Virot Iron Project. The company is now assessing its options with respect to accelerating the pace of its original exploration program in order to advance the project as much as possible during the current field season.

Crosshair Energy Corporation, which rose nearly 3 per cent yesterday, reported today the receipt of the first set of assay results from the ongoing drilling program on its CMB uranium/vanadium property. Mark Ludwig, CEO, said the results “appear to confirm that the uranium mineralization at Two Time and the vanadium mineralization within the C Zone corridor is more extensive than our current resource estimates would indicate.”

SilverCrest Mines Inc. announced that its common shares have been authorized for listing on the New York Stock Exchange. The shares will begin trading there on Aug. 27 under the trading symbol SVLC. The company's common shares will continue to be listed on the TSX Venture Exchange under the trading symbol SVL.

Sunset Cove reported that recent surface exploration work has led to the discovery of 13 new veins, structures on the Anomaly Two sector of the Carolay silver polymetallic property.

EnerCare Inc. announced a cash dividend of $0.056 per common share for the month of August. The dividend will be payable on Sept. 28 to shareholders of record at the close of business on Aug. 31. ECI closed at $8.75 yesterday.

Scorpio Gold Corporation, which hit year low 54 cents yesterday, announced further drill results from its 2012 drilling program on the Mary LC Zone. The company said drilling has intersected 7.62 metres grading 6.16 g/t gold on the Mineral Ridge Project.

Yamana Gold Inc. said it has completed the acquisition of Extorre Gold Mines Ltd. after receiving final court approval on Tuesday. With the acquisition, Yamana adds several exploration and development stage precious metals projects, the most advanced of which is Cerro Moro, a high grade, gold silver deposit in the province of Santa Cruz, Argentina.

CERF Incorporated has signed a non-binding letter of intent to acquire a private oilfield equipment rental company located in Alberta. The existing management team of the oilfield rental company is expected to manage and grow CERF's new business unit. CFL was last trading at $2.95.

Winalta Inc. reported a second-quarter net loss of $1.7-million, or 4 cents per share, on revenues of $2-million. In the same period last year, net loss was $1.6-million, or 4 cents per share, on revenues of $2.6-million. No analyst estimates were available for comparison.

 

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