Tan Wei Ming
Fibrek Inc. confirmed that the administrative tribunal with statutory jurisdiction in securities law and regulatory matters in Quebec, issued an order to halt Fibrek's new shareholder rights plan, adopted on April 11, 2012, effective immediately. Fibrek intends to appeal the decision before the Court of Quebec as soon as possible. This comes a day after Mercer International raised its friendly bid by 8 per cent, pushing Fibrek shares up nearly 10 per cent and putting new life into its takeover battle with Resolute Forest Products , which announced separately the take up of 46.8 per cent of Fibrek Shares and extension of its offer to April 23.
Taseko Mines Ltd , which gained 4 per cent yesterday, announced 2012 first quarter total production of 20.8 million pounds of copper and 438,000 pounds of molybdenum for its 75 per cent owned Gibraltar Mine. For the first quarter, Taseko's 75 per cent share of sales was 12.7 million pounds of copper and 354,000 pounds of molybdenum.
Jaguar Mining Inc. , which slumped 24 per cent and hit a year low $3.42 on Wednesday, issued a press release in response to recent market speculation and increased trading volume in its shares. "Jaguar is not aware of any developments that would merit such trading activity," it said.
Carfinco Financial Group Inc. announced that a cash dividend of 3.5 cents per share has been declared for April 2012, an increase of 16.7 per cent from March's cash dividend of 3.0 cents per share.
PMI Gold Corporation , which slid nearly 3 per cent on Wednesday, announced that it has taken another significant step towards the imminent completion of the Feasibility Study on its Obotan Gold Project in Ghana with an updated resource estimate confirming the integrity of the gold inventory underpinning the Project.
CanAlaska Uranium Ltd. announced that its board of directors has approved the adoption of a shareholder rights plan although it is not aware of any third party currently considering or preparing any proposal to acquire control of the company.
Amica Mature Lifestyles Inc. that rose to highs at yesterday's close announced today its operating and financial results for the 3 months ended February 29, 2012. The company said consolidated revenues increased 27 per cent to $19.69 million compared to the previous year. Diluted AFFO per share increased 12 per cent to $0.09 per share compared to last year.
The Futura Loyalty Group Inc. , which was just above year lows at yesterday's close, announced today that it has signed its first 5 merchants in the U.S. to market the company's branded rewards currency offerings. David Campbell, CEO, said: "We are excited to enter the large American market in four different geographic regions. This represents a real validation that merchants in different sectors and market areas in the United States see the value in our customer driven loyalty marketing services and solutions."
Discovery Ventures Inc. today announced that it has acquired an option to earn a 50 per cent interest in the Big Creek property. The Prosperity deposit is a Gold-Copper porphyry with a 1 billion tonne measured and indicated resource with grades of 0.41 g/t gold and .24 per cent copper.
Suroco Energy Inc. announced today that the Cohembi-5 appraisal well has been successfully drilled to total depth and has encountered high quality oil pay similar to the other three existing producing wells in the Cohembi oil field. Mr. Alastair Hill, CEO, said: "The Cohembi-5 results demonstrate that we are on the right track in our appraisal drilling program at Cohembi."