Canadian issues that are moving on early news
Online Energy Inc. reported a second-quarter net loss of $668,580, or $0.01 per share, on revenues of $1.1-million. In the same period last year, net loss was $423,194, or $0.01 per share, on revenues of $1.2-million. No analyst estimates were available for comparison.
Terraco Gold Corp., which gained 10 per cent yesterday, announced today additional assay results from the 2012 drill program completed at its Almaden (Nutmeg Mountain) Project in Washington County, Idaho. The company said the results “continue to meet or exceed expectations” at Almaden.
MDN Inc., which hit year-low 16 cents yesterday, announced today the results of its second drilling campaign completed at the beginning of August on the Nikonga gold project. Marc Boisvert, vice-president exploration, said: “We believe that this property offers good potential justifying the pursuit of further exploration works.”
Talison Lithium Limited, which lost 3 per cent yesterday, announced today that it has entered into a definitive agreement with Rockwood Holdings, Inc. which allows Rockwood to acquire Talison for $6.50 per share. This values the equity of Talison at approximately $724-million on a fully diluted basis.
Invicta Energy Corp. reported second-quarter net earnings of $159,353 on revenues of $1.7-million. Funds from operations were $972,138. In the same period last year, the company had a net loss of $346,624, or $0.01 per share, on revenues of $489,673. Funds from operations were $252,202. No analyst estimates were available for comparison.
Antrim Energy Inc., which fell 4 per cent yesterday, announced today that drilling operations have commenced for the Contender prospect in U.K. Northern North Sea Block 211/22a Contender Area. The well, which is being drilled from the TAQA-operated Cormorant North production platform, will target the Jurassic Brent sequence of sandstones at a projected drilling depth of 16,900 feet, east of the North Cormorant Field.
Premier Gold Mines Ltd. announced additional assay results from an ongoing drill program at the Helen Zone on the company’s Cove Gold project in Nevada. The company said high-grade gold was intersected in multiple holes. It released details of the assay results on its website.
Liberty Mines Inc. announced that a positive preliminary economic assessment has been completed for its Hart Project, a nickel deposit located in Timmins, Ontario. Liberty Mines closed at 6 cents yesterday, just 2 cents above year lows.
PetroNova Inc. reported a second-quarter net loss of $1.3-million, or one cent per share, compared with a loss of $1.5-million, or also one cent a share, a earlier earlier. Revenues slipped to $47.5-million from $77.0-million.
Falcon Gold Corp. has received assays from rock samples taken at its Washington Silver Project including one sample that assayed 2,700 grams per tonne silver and 5.58 g/t gold. FG was last trading at 11 cents, which is slightly above the year-low of $0.075.