Skip to main content
The Globe and Mail
Support Quality Journalism.
The Globe and Mail
First Access to Latest
Investment News
Collection of curated
e-books and guides
Inform your decisions via
Globe Investor Tools
Just$1.99
per week
for first 24 weeks

Enjoy unlimited digital access
Enjoy Unlimited Digital Access
Get full access to globeandmail.com
Just $1.99 per week for the first 24 weeks
Just $1.99 per week for the first 24 weeks
var select={root:".js-sub-pencil",control:".js-sub-pencil-control",open:"o-sub-pencil--open",closed:"o-sub-pencil--closed"},dom={},allowExpand=!0;function pencilInit(o){var e=arguments.length>1&&void 0!==arguments[1]&&arguments[1];select.root=o,dom.root=document.querySelector(select.root),dom.root&&(dom.control=document.querySelector(select.control),dom.control.addEventListener("click",onToggleClicked),setPanelState(e),window.addEventListener("scroll",onWindowScroll),dom.root.removeAttribute("hidden"))}function isPanelOpen(){return dom.root.classList.contains(select.open)}function setPanelState(o){dom.root.classList[o?"add":"remove"](select.open),dom.root.classList[o?"remove":"add"](select.closed),dom.control.setAttribute("aria-expanded",o)}function onToggleClicked(){var l=!isPanelOpen();setPanelState(l)}function onWindowScroll(){window.requestAnimationFrame(function() {var l=isPanelOpen(),n=0===(document.body.scrollTop||document.documentElement.scrollTop);n||l||!allowExpand?n&&l&&(allowExpand=!0,setPanelState(!1)):(allowExpand=!1,setPanelState(!0))});}pencilInit(".js-sub-pencil",!1); // via darwin-bg var slideIndex = 0; carousel(); function carousel() { var i; var x = document.getElementsByClassName("subs_valueprop"); for (i = 0; i < x.length; i++) { x[i].style.display = "none"; } slideIndex++; if (slideIndex> x.length) { slideIndex = 1; } x[slideIndex - 1].style.display = "block"; setTimeout(carousel, 2500); } //

A trader watches a graph showing the fall of the Euro in Paris on Friday.

The Associated Press

Inside the Market's roundup of Canadian small caps making news and on the move today. This post will be updated during the trading day.

Shares in Pretium Resources Inc. are sharply lower today on news that the company has entered into an agreement with a syndicate of underwriters in connection with its previously announced offering of common shares.

The underwriters have agreed to purchase 8,280,000 common shares at a price of $7.25 (U.S.) per common share for proceeds of $49,524,750 for the company and $10,505,250 for Silver Standard Resources Inc., which own a significant stake in Pretium. The price of $7.25 is about 8.1 per cent below Monday's closing price of $7.89 and represents about 7.6 per cent of Pretium's total outstanding shares.

Story continues below advertisement

Pretium will offer 6,831,000 of the common shares in the offering. The remaining 1,449,000 of the common shares will be offered by Silver Standard.

Shares in Pretium are down 7 per cent in the early TSX trading.

-

Ur-Energy Inc. today announced results of a recently completed uranium resource analysis for its Shirley Basin Project, in Carbon County, Wyoming. The analysis identified 8,816,000 pounds of measured and indicated resources, with an average grade of 0.230 per cent.

Cantor Fitzgerald analyst Rob Chang commented in a research note this morning that overall the results were "positive" and he reiterated a "buy" rating and $2.25 (Canadian) price target. Dundee Securities analyst David Talbot suggested investors won't get too excited over the results as he reiterated a "buy" rating and $1.80 price target. "Size reflects historical estimates but its grades are quite high," he said. "This secondary project, while a good one that helps solidify the future of URE, will likely be met with muted response from investors given the current uranium price environment."

Indeed, shares in early TSX trading are down 1.6 per cent.

-

Story continues below advertisement

Cosmetic ingredient and drugs company Sirona Biochem Corp. has entered into a business consulting agreement with Hong Kong-based consulting firm PRC Partners. PRC will receive 1.5 million Sirona shares and stock options in exchange for arrangement of strategic relationships and access to capital markets in Europe.

-

Maya Gold and Silver Inc. has started milling operations at its flagship Zgounder silver mine in Morocco, which was re-started by the company back in 2013 after mining was halted in 1990 by another company during low silver prices.  Silver recovery is expected to be in a range of 92 per cent and the mine is expected to have a mining life of 10 years.

-

United Hunter Oil and Gas Corp. will sell up to 20-million shares at 5 cents per unit in a private placement after it finishes its previously announced share consolidation, with the company expecting to raise up to $1-million.  The announced share consolidation will see 10 pre-consolidation shares  equal one post-consolidation share, which the company has said was done in hopes of facilitating raising new capital.

Shares plunged 20 per cent at today's open on the TSX Venture Exchange.

Story continues below advertisement

-

Pilot Gold Inc. announced the results from the first five follow-up holes on the new Valley Porphyry discovery in northwest Turkey. All holes returned long runs of copper and gold mineralization starting at surface, the company said. Shares are up 4 per cent in early trading.

-

Alterra Power Corp. announced that the Dokie 1 wind farm re-commenced full operations on July 18. The project temporarily suspended operations on July 16 because of a nearby forest fire. The fire did not enter the project area, the company said.

-

Jennings Capital initiated coverage on Mega Precious Metals Inc. with a "speculative buy" rating and 25 cents per share price target. Shares are up more than 4 per cent in morning trading.

Story continues below advertisement

-

Clarus Securities initiated coverage on ViXS Systems Inc. with a "buy" rating and $3.30 (Canadian) price target.

-

Hanwei Energy Services Corp. will sell up to 25-million shares in a private placement at 16 cents per unit. Hanwei hopes to funnel up to $4-million from the sale towards its current oil and gas operations in Alberta. The fibreglass and reinforced plastic pipe maker has struggled as revenues have fallen on the heels of China's slowing growth, though shares have spiked sharply since the end of last month. The stock has gained 100 per cent since the company announced positive well updates last month, and in TSX trading today, added a further 32 per cent.

-

Home and commercial security services provider Avante Logixx Inc. reported a 13.2 per cent decrease in revenues from the same time last year, mostly driven by a lower demand for non-recurring services like international security travel advisory. Total revenues were roughly $2.02-million, down from $2.3-million. Shares are down 4 per cent in early trading.

Story continues below advertisement

-

Oil and gas producer Dundee Energy Ltd. said its subsidiary, Escal UGS S.L. has filed an application to relinquish a concession related to the Castor underground gas storage project in Spain. Dundee Energy holds an indirect 24 per cent interest in Escal.

Dundee Energy says it also holds interests in the largest accumulation of producing oil and gas assets in Ontario and in exploration and evaluation programs for oil and natural gas offshore Tunisia.

Shares in the company are down 10 per cent in trading today.

-

LGX Oil and Gas Inc. said it has granted 3.7 million stock options to directors, officers, employees and consultants. The options carry a strike price of $0.48 per share and have a five-year term, with one third of them vesting each year. LGX now has 7.16 million stock options outstanding. The news is pressuring shares, opening down 3 per cent.

Story continues below advertisement

-

ShaMaran Petroleum Corp. has provided an update on drilling operations at its Atrush development in Iraq, reporting that the well was drilled ahead of schedule and under budget. Final testing is expected to start early 2015. Shares were up 2.8 per cent yesterday.

-

AcuityAds Holdings Inc. announced that it will start trading on the TSX Venture Exchange at the start of business today under the symbol "AT".

Your Globe

Build your personal news feed

  1. Follow topics and authors relevant to your reading interests.
  2. Check your Following feed daily, and never miss an article. Access your Following feed from your account menu at the top right corner of every page.

Follow the authors of this article:

View more suggestions in Following Read more about following topics and authors
Report an error Editorial code of conduct
Tickers mentioned in this story
Due to technical reasons, we have temporarily removed commenting from our articles. We hope to have this fixed soon. Thank you for your patience. If you are looking to give feedback on our new site, please send it along to feedback@globeandmail.com. If you want to write a letter to the editor, please forward to letters@globeandmail.com.

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff. Non-subscribers can read and sort comments but will not be able to engage with them in any way. Click here to subscribe.

If you would like to write a letter to the editor, please forward it to letters@globeandmail.com. Readers can also interact with The Globe on Facebook and Twitter .

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff. Non-subscribers can read and sort comments but will not be able to engage with them in any way. Click here to subscribe.

If you would like to write a letter to the editor, please forward it to letters@globeandmail.com. Readers can also interact with The Globe on Facebook and Twitter .

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff.

We aim to create a safe and valuable space for discussion and debate. That means:

  • Treat others as you wish to be treated
  • Criticize ideas, not people
  • Stay on topic
  • Avoid the use of toxic and offensive language
  • Flag bad behaviour

Comments that violate our community guidelines will be removed.

Read our community guidelines here

Discussion loading ...

To view this site properly, enable cookies in your browser. Read our privacy policy to learn more.
How to enable cookies