ATS Automation Tooling Systems Inc. today reported its financial results for the three and nine months ended Jan. 1, 2012. Revenues were $149.1-million, 23 per cent higher than a year ago. Earnings were $20.4-million, compared to $6.1-million a year ago. Third-quarter earnings from operations were up $3-million from the sale of a redundant ASG facility in France, and the benefit of $3.7-million of U.S. research and development tax credits which were recorded based on improved profitability in the Company's U.S. businesses.
Vista Gold Corp. announced that it has entered into an Earn-in Right Agreement with Mexico-based Invecture Group, S.A. de C.V. with respect to Vista's Concordia gold project in Baja California Sur, Mexico. Invecture is the owner of Frontera Copper Corporation, which owns and operates the Piedras Verdes Copper Mine in the Mexican State of Sonora. A conference call with management to discuss this transaction is scheduled for Monday, Feb. 13, 2012 at 11 a.m. MST.
Synchronica plc , announced that it has signed a Letter of Intent with Gene Simmons-backed Intertainment Media Inc. . The companies intend to integrate Synchronica's flagship messaging platform, Mobile Gateway, with Intertainment Media's Ortsbo experiential language technology, and will enter a joint venture agreement with Intertainment Media and its subsidiary Ortsbo Inc., in which the parties will license their respective Intellectual Properties to a new jointly-owned subsidiary.
Ballard Power Systems announced that it has signed a non-binding Memorandum of Understanding (MOU) with WEG Industries (Brazil), a multinational corporation headquartered in Jaragua do Sul, Brazil, to collaborate on product and market development of clean energy fuel cell products.
Freegold Ventures Limited , which lost nearly 4 per cent on Monday, reported the results of its three holes drilled at the Rob Project located in the Goodpaster District, Alaska. Drilling was aimed at evaluating the bulk tonnage potential of the Michigan area of the project. A total of three holes totaling 2,984 feet were drilled. Holes 11-01 and 11-03 both intersected anomalous values. Hole # Rob11-02 was particularly encouraging intersecting 57 g/t over 5 feet and 7 gm/t over 11.5 ft with the bottom 30 feet averaging 2.6 gm/t.
Scorpio Gold Corporation announced today the 2011 operations performance and major milestones accomplished with the commencement of mining operations at the 70 per cent owned Mineral Ridge Gold Mine, Nevada. Peter J. Hawley, President and CEO, said: "2011 was a milestone year for the Company, with the Mineral Ridge Gold Mine coming on line approximately one year from acquisition."
Manitou Gold Inc. announced today that it has signed an agreement to acquire 20 mining claims located within the Kenora Mining Division of North Western Ontario. In addition, the Company has also signed an agreement to purchase a 100 per cent interest in two non-contiguous claims that are located within the outer property boundary of the company's Gaffney Extension claims.
Novus Energy Inc. today announced the results of its 2011 capital program and its 2012 production and capital budget guidance. The company said proved reserves increased by 83 per cent to 8.84 million boe, up substantially from last year's 4.83 million boe. Proved plus probable reserves at increased by 58 per cent to 14.56 million boe, up from the previous year's 9.24 million boe. For 2012, the company approved $81-million for its capital budget, which will exclusively be devoted to light oil development drilling activity in the Dodsland Viking light oil resource play.