A trader works on the floor of the New York Stock Exchange, April 10, 2012.BRENDAN MCDERMID
Canadian issues that are moving on early news.
Sprott Power Corp. reported revenues of $4-million for the second quarter of 2012. This compares with revenues of $2.5-million for the same three month period in 2011, an increase of $1.5 or 60 per cent. The net loss attributable to the shareholders was $0.016, compared with $0.021 in the same period in 2011.
Medicago Inc., which gained six per cent yesterday, announced that it has achieved a key milestone with the production of at least 10 million doses of H1N1 VLP influenza vaccine candidate in one month. This rapid fire test was conducted at Medicago's facility in Durham, North Carolina.
Cornerstone Capital Resources Inc. has entered into a joint venture with SolGold PLC for an aggressive first year exploration program totalling $2.8-million (U.S.) for the Cascabel gold-copper-silver property. CGP closed at 11 cents yesterday.
Red Eagle Mining Corporation, which rose nearly two per cent yesterday, announced additional assay results received from the 24 hole, 5,400-metre phase two core drill program at the San Ramon gold system located within the Santa Rosa gold project. The additional results show strong gold mineralization over significant intervals.
CIC Energy announced an all-cash offer from Jindal Steel & Power for $2.00 per share. The board recommended acceptance by CIC Energy shareholders.
Pure Industrial Real Estate Trust, which is trading at year high levels, announced it has entered into an agreement to acquire a fully leased multi-tenant, income producing industrial property for a total purchase price of $4.25-million.
Mirabela Nickel Limited announced its unaudited second-quarter results. Highlights include the production of 4,276 tonnes of nickel in concentrate, compared with 4,245 tonnes in the first quarter of 2012, and sales of 4,787 tonnes of nickel in concentrate, up 15 per cent from 4,155 tonnes in the first-quarter of 2012.
David Cutler has been appointed president and chief executive officer of Centric Health Corporation, a diversified health-care services company that saw its shares drop 7.5 per cent on Monday. Mr. Cutler, who will assume his responsibilities in September 2012, joins from Leisureworld Senior Care Corporation.
Bioniche Life Sciences Inc., which lost five per cent Monday, announced that Immunocidin, the first of two canine oncology products, has received approval by regulators in both the U.S. and Canada. Market launch activities are currently underway with an expectation to have Canadian product available in September, 2012, followed by a U.S. launch before the end of the calendar year.
Alphinat Inc., which is trading near year lows, said net loss for the first quarter was $157,213 or $0.003 per outstanding common share compared with a net loss of $305,467 or $0.006 per outstanding common share for the corresponding period in 2011.