The Keephills 3 power plant, a coal-fired generating facility, west of Edmonton, Alberta.
Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
TransAlta Corp. (TA-T; TAC-N) reported second quarter 2015 comparable earnings before interest, taxes, depreciation and amortization of $183-million, a decrease of $30-million compared to last year and comparable funds from operations of $160-million, $6-million higher than last year. The net loss attributable to common shareholders was $131-million for the quarter, or 47 cents per share, compared to a net loss of $50-million, or 18 cents per share for the same period in 2014. Revenue for the quarter was $438-million, down from $491-million a year ago.
"Solid performance from Renewables and Gas, including contributions from the newly commissioned Australian pipeline, were more than offset by lower availability at Canadian Coal, mark-to-market losses on financial contract hedging of future generation that did not qualify for hedge accounting and Energy Marketing losses in Alberta and the Pacific Northwest," the company said.
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Ottawa-based InterRent Real Estate Investment Trust (IIP.UN-T) reported gross rental revenue from its stabilized portfolio was $15-million for the quarter ended June 30, an increase of 3.8 per cent over the year ago period while operating revenues were also $15-million, an increase of 6 per cent over the second quarter last year. Average monthly rent per suite for the entire portfolio increased 3.3 per cent to $978 from $947 a year ago. Vacancy was 4.9 per cent, down from 5.8 per cent a year ago. Funds from operations for the quarter were $6.4-million, up 16.7 per cent on a per unit basis. Operating revenues were $20.6-million, up from $15.7-million a year ago.
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Vancouver-based Scorpio Gold Corp. (SGN-X) said announces that it has entered into a term sheet for a non-dilutive debt financing with Waterton Precious Metals Fund II Cayman LP, an affiliate of the company's joint venture partner at the Mineral Ridge project.
Scorpio Gold said it has decided not to proceed with the convertible debt financing announced in its news release dated June 12, and instead has entered into a term sheet with Waterton. Under the proposed financing, Waterton will advance a $6-million (U.S.) loan for a period of 36 months. The Loan will accrue interest at a rate of 10 per cent per annum, to be paid quarterly, and will be secured by a first priority security interest in all of the company's assets.
"With the current downturn in the price of gold, the company's main objective is to ensure a solid cash balance and to focus on low-cost mining and optimizing cash flow," said Scorpio Gold CEO Peter Hawley.
The proceeds of the loan will be mainly used to finance exploration and development at its Mineral Ridge project, for general working capital purposes and to pay the break fee and other costs associated with the company's recently terminated financing activities.
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BitGold Inc. (XAU-X) said it will complete a vertical amalgamation with its wholly owned subsidiary, GoldMoney Inc., effective Thursday. Following the amalgamation, the company's name will change from BitGold Inc. to GoldMoney Inc. The company's stock symbol on the TSX Venture Exchange will remain "XAU."