ETFs and Mutual fundsWilliam Voon
Hathor Exploration may come under some pressure today on the possibility that a bidding war for it is nearing an end after Canada's competition watchdog cleared Rio Tinto's $654 million takeover offer for Hathor. Rio Tinto raised its friendly bid for the uranium explorer last week to $4.70 a share, trumping a sweetened hostile bid from Canada's largest uranium producer, Cameco Corp . Rio's offer is due to close on Nov. 30.
Innovative motion technology company D-Box Technologies Inc. , which has been trading near a year low of 32 cents, announced today a new agreement with Cobb Theatres to equip Cobb Countryside Theater in Clearwater, Fla., a new state-of-the-art 12-plex, with 41 D-BOX MFX Seats when it opens to the public this December. D-BOX CEO said "When we have the opportunity to increase our footprint with an existing theatre partner it speaks volumes to the appeal of our motion technology and our progressive business model."
Pioneering Technology Corp. , an energy smart product innovation and consumer goods company that has been trading near a year low 20 cents, announced today it has been issued a patent by the United States Patent and Trademark Office for its technology designed to help detect and diffuse burning and/or smoking conditions in various cooking/heating appliances. The company said this technology was developed to complement its patented Safe-T-element product which is engineered to help prevent stove top cooking fires.
Ethiopian Potash Corp. aims to never be caught off guard. Today, the company said it has renewed its poison pill announced last March 29, 2011, as it feels that it remains vulnerable to hostile approaches based on a market valuation, which does not reflect the value that has been created from its drilling program initiated in the summer of 2011. The poison pill originally adopted on March 29, 2011 expired on Sept. 29, 2011, but may be renewed every six months to maintain its efficacy.
Cap-Ex Ventures Ltd. reported today additional results from diamond drilling completed in 2011 on its wholly owned Block 103 iron ore property. The company said drill hole DDH103-35, intersected 70.1 meters at 29.7 per cent Fe and 33.75 per cent DTWR from 5.18 meters. Cap-Ex President and CEO Mr Brett Matich comments, "The Board is pleased with the initial results from the Greenbush Zone discovery. Block 103 appears to host a multi-billion tonne near surface iron ore deposit."
Auryx Gold Corp. announced today the discovery of a new zone, the "K2 shoot", at Otjikoto. Auryx's CEO, Mr. Searcy comments: "The K2 shoot is a true geologic discovery. The new structurally controlled model that we have developed is a significant step forward in our geologic modelling and drill targeting at Otjikoto. I expect that this will greatly improve the exploration hit rate and it has positive implications for resource growth."
Aeterna Zentaris Inc. , which closed yesterday's session 2 cents above its 20-day average $1.65, announced today that it has signed an exclusive commercialization and licensing agreement with Hikma Pharmaceuticals PLC for the registration and marketing of Aeterna Zentaris' lead anti-cancer compound for the Middle East and North Africa region. The company said under the agreement, it is entitled to receive an upfront payment and additional payments upon achieving certain pre-established milestones in the aggregate of $2 million.
IROC Energy Services Corp. may test year highs of $2.45 after last night saying net income from continuing operations climbed 305 per cent to $4.3-million during the three months ended Sept. 30 up from $1.1-million in net income during the comparable period in 2010. Total revenues rose 63 per cent to $22.9-million for the oilfield services company, with service rig utilizations posting double-digit percentage gains over the quarter last year. Rental and corporate service revenues also rose.
Sterling Resources Ltd. narrowed its third-quarter net loss by nearly one quarter, with the quarterly loss improving to $7.8-million from a $10.2-million net loss during the year-ago period. On a per-share basis, the oil and gas company lost 4 cents in the latest quarter, up from a 7-cent-per-share loss last year. Pre-license and other exploration costs totalled $1.88-million, roughly in line with 2010 levels. It finished the quarter with $58-million in cash and equivalents, down from $138.4-million at the start of 2011.
Temple Real Estate Investment Trust last night posted a $1.8-million improvement in net income during the three months ended Sept. 30, posting a $2.48-million gain. Total revenues rose 3.7 per cent to $16.9-million, up from $16.31-million last year as the hotel manager benefitted from higher occupancies at its properties other than the Capri Centre in Red Deer, Alberta, which is undergoing a $5.7-million renovation of guest rooms and other building upgrades. The reconstruction should wrap up next month when the hotel will renamed the Sheraton Red Deer Hotel and Convention Centre.
Telehop Communications Inc. last night reported a $76,000 net loss on $2.7-million in revenues during the three months ended Sept. 30. That compares with a $13,000 profit and $2.9-million in revenues during the same period last year for the long-distance telephone carrier.
YM BioSciences Inc. starts trading today at $1.33 a share following a 13 per cent drop during yesterday's session, although it did climb back from a 29 per cent drop earlier in the day. The company issued a statement with about an hour left in the session that it was not aware of any material event that would account for the unusual trading activity.