Argonaut Gold Inc. , which rose 1 per cent to close Tuesday just shy of a year high, announced gold production for fourth-quarter 2011 of 19,700 ounces and a total of 72,000 ounces for 2011. It said these are records for both quarterly and annual production. The company also provided production guidance range for 2012 of 85,000 to 95,000 ounces of gold.
Marquis Alliance Energy Group Inc., a subsidiary of Secure Energy Services Inc. announced that it has entered into an agreement to acquire the operating assets (excluding working capital) of New West Drilling Fluids Inc. for an aggregate cash purchase price of $3.4-million, subject to certain customary closing adjustments. Closing is expected to occur on Jan. 25, 2012, subject to certain customary closing conditions.
AbitibiBowater Inc., doing business as Resolute Forest Products , announced that it filed an application with the administrative tribunal with statutory jurisdiction in securities law and regulatory matters in Quebec, for an order to cease trade Fibrek Inc.'s shareholder rights plan. Resolute also announced that the U.S. Securities and Exchange Commission declared effective Resolute's registration statement relating to the proposed transaction on Jan. 13, 2012, and that U.S. antitrust authorities granted early termination of the statutory waiting period under the U.S. Hart-Scott-Rodino Act with respect to the proposed transaction.
Claude Resources Inc. announced that St. Eugene Mining Corporation Limited shareholders have approved the acquisition, by Claude, of all of the issued and outstanding shares of St. Eugene that it does not already own pursuant to a court-approved plan of arrangement. The closing of the Arrangement is conditional on receipt of final approval from the Supreme Court of British Columbia as well as final approval from the TSX Venture Exchange, and is expected to occur on or about Jan. 31, 2012. The consideration offered under the Arrangement is approximately $15-million plus proportionate ownership of Satori Resources Inc., which will hold the Tartan Lake Gold Mine Project.
RX Exploration Inc. , which lost 5 per cent yesterday in moving closer to year lows, announced that it has changed its name to RX Gold & Silver Inc. The company also announced that on the strength of its exploration program in 2011, the board had approved a $5-million exploration budget for 2012 which will be funded from revenues generated from the company's continuing evaluation mining efforts.
PetroMagdalena Energy Corp. , which rose nearly 4 per cent yesterday, today provided an update on its ongoing exploration program, cash and debt balances, and announced its production results for 2011 following the company's fiscal year end. Luciano Biondi, Chief Executive Officer of the Company said: "We are entering 2012 with a full exploration and development drilling program on the back of a challenging but successful year repositioning PetroMagdalena into a focused junior oil and gas player, operating in the most prolific basins in Colombia."
Destiny Media Technologies announced results for the quarter ending Nov. 30, 2011. Revenues of $1,124,617 reflect an increase of 21 per cent over the previous quarter and 6 per cent over the same quarter in the prior year. But operating expenses grew 16 per cent to $1,109,240, reflecting a 15 per cent increase in R&D spending and a 31 per cent increase in G&A. Net income fell to $12,555 from $72,863.
Piping products maker Bri-Chem Corp. announced today that its large diameter seamless steel pipe manufacturing facility has successfully manufactured the first 30 inch seamless steel pipe in North America utilizing its Thermal Pipe Expansion process. Don Caron, Chief Executive Officer, said: "With the 30 inch steel pipe production behind us, Bri-Chem is now well positioned to develop into the leading North American source for the supply of niche large diameter seamless steel pipe."
CANMARC Real Estate Investment Trust announced today that it has closed the previously announced transactions to acquire Woodside Square in Toronto, and Marche Jonquiere in Quebec. The REIT said the purchase price for Woodside Square is $59.25-million while the price for Marche Jonquiere is $13.76-million. Woodside Square is an enclosed anchored community shopping center comprised of 282,952 square feet of GLA on 24.46 acres. Marche Jonquiere is a recently developed and renovated "Class A" grocery and drug store anchored neighbourhood strip center.
Williams Creek Gold Limited announced today the completion of Phase II of its 2011 exploration and diamond drilling program on its wholly owned group of Crown Granted mineral claims centered in the historic Barkerville Camp, BC. The majority of the high grade intercepts in the Phase II drilling are quartz veins, locally in what appear to be vein zones, the company added.