Dollarama Inc. starts today at $40.35 a share after reporting big gains in both sales and net earnings during the third quarter ended Oct. 31, with revenues rising 12.5 per cent to $400.3-million and earnings per share climbing 31 per cent to 55 cents, up from a 42-cent profit in the year-go quarter. Analysts, on average, had been expected the discount retailer to report a 52-cent EPS. Revenues were roughly in line with the Street call.
Laurentian Bank said it will publish its financial results for the fourth quarter of 2011 today and will hold a conference call for media representatives and the financial community at 2.00 p.m. (ET). Onlookers will wait to see if the bank raises dividends, as has been speculated in some sectors of the media.
COM DEV International Ltd. , which ended yesterday's session a cent above 50-day SMA $1.91, announced that it has been awarded a contract to deliver hardware, including switches, multiplexers, filters and diplexers, for a commercial communications satellite. The manufacturer of space hardware subsystems said the contract changes are fully funded with a combined value in excess of $6-million. Work on the contract will be carried out at the facility in Cambridge, Ontario with completion expected by the end of fiscal 2012.
Golden Hope Mines , which closed Tuesday near a year low of 10 cents, announced further significant results from its Summer/Fall Drill Campaign in Southeastern, Quebec. The company said hole BD2011-162 intersected 112 meters of 1.33g/t Au including 13 meters of 7.01 g/t Au, 18 meters of 1.47 g/t Au and 14 meters of 1.07 g/t Au in the 88 zone.
Armtec Infrastructure Inc. and , which was just 2 cents below 20-day average $1.87 at yesterday's close, reported that Standard & Poor's Rating Services has announced that it has changed its long-term corporate credit rating issued for Armtec Holdings Limited, a wholly owned subsidiary of Armtec, to "B" from "B+". Standard & Poor's further announced that it has affirmed its "B-" issue-level rating on the 8.875 per cent Senior Unsecured Notes, Series A due Sept. 22, 2017 issued by Armtec Holdings Limited, and revised the recovery rating on the Senior Notes to "5" from "6".
Jaguar Mining Inc. announced late Tuesday that Daniel Titcomb will be leaving his role as President and Chief Executive Officer of the Company effective today. On an interim basis, the Chairman of the Board of Directors, Gary E. German, together with two other Jaguar directors, Gil Clausen and John Andrews, will form a newly-created Office of the Chairman to fulfil the duties of the Chief Executive Officer. These directors also constitute a Special Committee of the Board charged with oversight of the company's strategic process announced in November.
Specialty metals-maker 5N Plus Inc. last night said revenues, earnings, EBITDA and funds from operations all reached record levels during the four months ended Sept. 30, largely exceeding corresponding numbers for previous quarters even when results for the period are pro-rated to a quarterly basis. Net earnings were $15.6-million, or 22 cents per share, marking a 457 per cent increase over net earnings of $2.8-million. Revenues for the four-month period rose 1,243 per cent to $242.3-million.
Renewable-energy company Biox Corp. this morning reported an $8.29-million profit in its fiscal fourth quarter, reversing a $2.96-million net loss in the year-ago quarter. Revenues rose to $22.99-million from $7.25-million in sales during the same three months in 2010. Net income per share was 18 cents, compared to a 7-cent-per-share net loss in fourth quarter 2010.
Chinese builder Boyuan Construction Group Inc., this morning reported higher fiscal first-quarter earnings, rising 1.6 per cent to $2.83-million, or 12 cents per share, compared with a $2.78-million profit in the year-ago quarter. Revenues rose nearly 24 per cent to $53.33-million. The company attributed the significant year-over-year growth in revenue to an increase in the number of successful project bids with higher contract value as well as to an increase in demand for construction and engineering services in the Company's core markets -- the Yangtze River Delta region, Hainan Island and Shandong province.
Canada Lithium Corp. announced an updated National Instrument 43-101 compliant Mineral Resource estimate for the Quebec Lithium Project that indicates Total Measured and Indicated Mineral Resources have increased to 33.2 million tonnes grading 1.19 per cent lithium oxide.
Kallisto Energy Corp. , which is trading near a year low 11 cents, announced that its eighth Pembina, Alberta horizontal Cardium oil well was placed on production Nov. 25, 2011. It said completion operations on the well included an 18 stage energized water fracture stimulation. Initial production rates are comparable to other wells on Kallisto's Pembina lands and are in line with management's expectations. As is the company's practice, actual production rates will be released once rates have stabilized. Kallisto has been advised by the operator that the ninth
Vista Gold Corp. provided an update of activities at its Mt. Todd gold project in Northern Territory, Australia, and Guadalupe de los Reyes gold-silver project in Sinaloa, Mexico. Vista now expects to complete a feasibility study for the Mt. Todd gold project in the first quarter of 2012 and will announce the results as soon as they are available. Recently completed metallurgical testing has resulted in further process improvement and optimization. Additional metallurgical testing is being undertaken to assess the recovery and economic results of the newly optimized operating parameters on a series of samples representative of the Mt. Todd deposit.
On Mt. Todd core drilling, Vista said it currently has two core rigs drilling at the Batman deposit. As announced on Nov. 7, 2011, Vista is undertaking a 8,500 meter program with the goal of re-classifying part of the estimated inferred resources lying close to or within the limits of the feasibility study pit shape to measured and indicated resources. As of this date 1,585 meters have been drilled in three drill holes. This drilling program is expected to continue through the first quarter of 2012.
Drilling at the Guadalupe de los Reyes gold-silver project is progressing well. As previously announced, this program is designed to accomplish two objectives: 1) obtain core for metallurgical testing from the stockwork portion of the deposits that is the host for the project's currently reported estimated mineral resources, and 2) test the potential for high gold grades and bonanza silver grades in the underlying low-sulfidation epithermal vein systems. Thus far, a total of 1,118 meters have been drilled in eight diamond core holes. Core from the first six holes has been logged, cut and shipped to ALS Chemex in Hermosillo, Mexico, for sample preparation. Vista expects to announce the first assay results in the first quarter 2012.