Avcorp Industries , which has been trading near year lows, announced that its subsidiary, Comtek Advanced Structures (Comtek), has been awarded a contract by Bombardier Aerospace under which Comtek will design, manufacture and support the floor panels for the Learjet 85 business jet. No financial details were provided.
Largo Resources Ltd. announced that it has completed drilling and is releasing assay results from an additional nine drill holes from its Maracas Vanadium Project in Bahia, Brazil, including five holes which demonstrate the discovery of a new high grade zone; Novo Amparo Norte. It intersected 20 metres grading 1 per cent V2O5 including 15 metres grading 1.11 per cent V2O5 on the Novo Amparo Norte Zone, and completed a 13,401 metre drill program.
Canadian processor of pulses and other special crops Legumex Walker has acquired the Minnesota-based St. Hilaire Seed Company, along with a sunflower-seed processing facility from Anderson Seed Co., also in MN. Valued at $19.2-million (U.S.), this is Legumex Walker's first acquisition under its growth strategy since the company's IPO last July. It more than doubles Legumex Walker's dry-bean capacity.
Freegold Ventures Limited reported the results of from its ongoing drill program on the Golden Summit Project located near Fairbanks, Alaska. It has intersected 1.12 g/t gold over 102.7 metres.
Internet services provider Tucows Inc. reported its financial results for the fourth quarter ended Dec. 31, 2011. Net revenue increased 19 per cent to a record $26.4-million from $22.1-million for the fourth quarter of 2010 and was driven by growth in each of the company's business groups. Net income was $6.1-million, or $0.11 per share, compared with net income of $1.2-million, or $0.02 per share. Deferred revenue at the end of the fourth quarter of 2011 was $69.2-million, an increase of 11 per cent from $62.6-million and relatively unchanged from the end of the third quarter of 2011.
Indonesian gold explorer Reliance Resources Limited announced the appointment of Andrew Wilson as a director of the company. He is a former BHP Billiton Indonesia President Director.
BIOX Corporation , a renewable energy company that designs, builds, owns and operates biodiesel production facilities, today announced its financial results for the fiscal 2012 first quarter that ended Dec. 31, 2011. Net income was $1.9-million during the quarter compared to $1.9-million in first quarter 2011. Earnings per share were $0.04. Sales were $28.9-million, up from $26.9-million in first quarter 2011.
Paladin Labs Inc. reported its financial results for the fourth quarter and year ended Dec. 31, 2011. It recorded revenues of $37.1-million compared to the previous year's $32.4-million, a 15 per cent year over year increase. Revenues increased $13.5-million or 11 per cent to a record $141.5-million in 2011 from $128.0-million in 2010. Net income for the quarter rose 14 per cent to $15.8-million or $0.76 per share compared to net income of 13.9-million or $0.71 per share for the same period in 2010. Net income for the year ended December 31, 2011 increased $20.3-million or 68 per cent to $50.2-million from $29.9-million.
Takeover target Fibrek Inc.'s Board Chairman, Hubert T. Lacroix, today said that the kraft pulp producer will fight for the right of its shareholders to accept a superior offer. Mr. Lacroix said: "Our board has worked diligently to maximize value for all our shareholders and will continue to take action not to let Abitibi, Fairfax, Oakmont, Pabrai and Steelhead, whose interests appear to be very different from our other shareholders, take advantage of our other shareholders and deprive them of a fair offer."
Alexander Nubia International Inc. today announced the results from an initial diamond drilling program at its Hamama Property in Egypt. Alexander Massoud, President and CEO, said: "The initial drill program establishes Hamama as a VMS deposit; such deposits are significant producers of precious and base-metals within the Nubian Shield - a mineralized belt extending from Egypt to Eritrea."