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The 1,111-carat gem-quality stone, which is slightly smaller than a tennis ball, was dug out of Lucara’s Karowe mine in Botswana.

Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.

Pacific Exploration & Production Corp. (PRE-T) said it has agreed to work with Catalyst Capital Group Inc. on a restructuring deal aimed at resolving its cash problems.

The company said it's working on a financial restructuring to "reduce debt, improve liquidity, and best position the company to navigate the current oil price environment."

Based on a recommendation from an independent committee of the board, Catalyst said in a release on Thursday that it has "resolved to negotiate a consensual restructuring transaction involving The Catalyst Capital Group Inc. and the company's creditors."

It said it hopes to finalize the terms of the restructuring "as soon as possible," and that its operations continue "as normal and without disruption."


Lucara Diamond Corp. (LUC-T) says it sold all 10 of its Karowe mine diamonds, totalling 1,525 carats, for $51.3 million (U.S.)

The company said seven of the diamonds sold in the special tender were for more than $2 million each, including four stones that sold for more than $5 million each.

"The results from this tender continue to demonstrate the strength of the exceptional stone market," stated CEO William Lamb. "We are very pleased with the quality of the diamonds being recovered which is evident in the consistent average value per carat achieved."


Madison Pacific Properties Inc. (MPC-T) reported net income of $13.4 million  or 22 cents per share for the six months ended Feb. 29, up from $10.4 million or 17 cents a year earlier.

The company said it currently owns approximately $387 million in investment properties, more than 99 per cent of which is leased, excluding properties under development.


Kirkland Lake Gold Inc. (KGI-T) says it plans to spend $52 million this year on advancing capital projects at the East Timmins operations in Northern Ontario, acquired recently through a friendly takeover of St Andrew Goldfields.

The Toronto-based company is also planning an $18 million exploration budget for 2016, including $8 million for the Taylor and Holloway deposits within the East Timmins Operations.

The company is estimating 2016 gold production will total 270,000 to 290,000 ounces, with up to 120,000 ounces from East Timmins and up to 170,000 from the Macassa mine complex.

Including its own operations as well as those from St. Andrew Goldfields, Kirkland Lake has budgeted $120 million for capital projects and $18 million for exploration this year.

Kirkland Lake closed the acquisition of St Andrew on Jan. 26, about two months after the companies announced a binding all-stock agreement that valued St Andrew at $178 million.


TheScore Inc. (SCR-X) reported second quarter revenue of $5.8-million, up from $3.2-million in the same period the previous year

Advertising revenue for the quarter rose 98 per cent $5.8-million, the company said.

"Revenue growth was powered by theScore's U.S. programmatic and Canadian direct sales businesses, driven in turn by strong user engagement within theScore's mobile apps," it said in a release.

Adjusted earnings before interest, taxes, depreciation and amortization loss for the quarter ended Feb. 29 was $3.2-million, compared to $1.9-million a year earlier.

Its net loss was  $4.2-million compared to $2.8-million a year earlier.

With files from wire services