Connacher Oil and Gas Limited , which rose 13 cents or 17 per cent yesterday, announced today that it anticipates disclosing strong operating and financial results for the fourth quarter of 2011, based on preliminary information. It said the gains are primarily due to a significant increase in crude oil and bitumen prices and continued strong performance by its heavy oil refinery in Great Falls, Montana.
Rio Alto Mining Limited , which rose nearly 2 per cent yesterday to close in on a year high $3.57, reported that gold production during construction and development of its 100 per cent owned La Arena Gold Mine amounted to 51,398 ounces during 2011. The company is finalizing a resource estimate to prepare an updated ore reserve and mining plan after which Rio Alto will provide gold production guidance for 2012.
CANCEN Oil Canada Inc. , which lost 2 per cent yesterday to fall further away from a year high $2.65, announced that it has entered into three agreements with Astra Energy Canada Midstream Services Inc. whereby CANCEN will build or acquire a number of additional processing, terminalling, storage, custom treating, and blending facilites in specifically targeted locations in the Western Canadian Sedimentary Basin that will be marketed to producers by Astra Midstream. "Management believes the arrangement with Astra Midstream will increase CANCEN's market penetration and market share while Astra Midstream brings to CANCEN the ability to access all producers through Astra Midstream's customer base in developing the relationship. These agreements will give CANCEN the ability to market the crude oil produced from all of its facilities to the worldwide market through Astra Energy Canada Inc."
Sego Resources Inc. , which rose nearly 8 per cent on Tuesday to move closer to a year high 33 cents, reported that it has recently received rock geochemistry from the Phase III percussion drilling program totalling 945 samples. It said the new copper-gold zone identified in Phase II has been extended to the southeast by 125 metres and remains open to the W, E, NE, SE, and at depth. This extension is part of the Cuba Zone IP anomaly which is 350m x 1500m.
PC Gold Inc. , which rose 4 cents yesterday, reported drill results from its fall shallow drilling program located in the Core Mine Trend. The program was designed to expand existing open pit resources (currently 3,628,000 tonnes at 1.1 g/t Au for 126,000 ounces) in the core mine trend as well as to expand relatively shallow (150-500 meters depth) underground resources. It added: "The fall drill program successfully defined additional mineralization proximal to current No. 1 and No. 5 BIF pits as well as the up dip extension of the Field Zone BIF and the Central BIF Zone. Additional deeper drilling was also successful at tracing the Field zone BIF to a depth of 500 m."
TransGaming Inc. announced today the strategic acquisition of the Interactive TV and Connected TV division of Oberon Media, an acclaimed operator of game services and a world-renowned creator and distributor of games for the interactive and connected TV market. The global leader in the multiplatform deployment of interactive entertainment said the acquisition will bring a new recurring multi-million dollar annual revenue stream generated through distribution agreements with a number of leading Smart TV manufacturers as well as an extensive network of cable, satellite and iTV service providers.
White Tiger Gold Ltd. looked set to reap gains today after announcing that the updated NI 43-101 technical report estimates that Ildikan Property contains proven and probable reserves of approximately 13.6 million tonnes grading at 1.05 g/t, containing 439,000 ounces of gold, which is a 287 per cent increase in reserve ounces from the estimate contained in the previous technical report. Daniel Major, CEO of White Tiger Gold, said: "The increase in reserve tonnage expands the potential of the deposit and fully supports our planned expansion of the open-pit. We expect this increase in gold throughput will have a significant positive impact on the project's economics."
Application software provider DDS Wireless International Inc. announced today that its Transit business unit, StrataGen Systems Inc., has been awarded two contracts with Broward County Transit, Fort Lauderdale including a full transit system upgrade as well as deployment of an automatic vehicle locator/mobile data terminal project for a total of $1.3-million. The company said a portion of the revenue from this contract will be recorded in fiscal 2012, with some deliveries in late 2011. Incremental maintenance contracts of $0.5-million will commence upon expected completion in fiscal 2012 and 2013.
NexJ Systems Inc. , a provider of enterprise private cloud software, announced today an agreement with Winfund, a top vendor of Wealth Management solutions, which will help the company to deliver its solutions to businesses serving the financial services marketplace throughout North America. John Vincze, Senior Vice President, NexJ said: "Our relationship with Winfund will allow us to further expand our sales channels and reach a new market segment by delivering our integrated private cloud solution as a subscription service."
West Cirque Resources Inc. announced today that it has signed an option agreement to acquire the Castle gold silver-copper property, located 68 kilometers south of Dease Lake in the Liard mining division of British Columbia. Under the terms of the agreement, the company said it may acquire a 100 per cent interest in the property, subject to a 2 per cent NSR.