Employees prepare various metal rods at the Boart Longyear plant in Mississauga that will be used in future drilling operations.Deborah Baic/The Globe and Mail
Canadian issues that are moving on early news.
CanElson Drilling Inc. reported income attributable to shareholders of $3.9-million, or $0.05 per share, for the second quarter of 2012 on revenues of $37.5-million. In the same period last year, income was $2.7-million or $0.04 per share on revenues of $25.1-million.
Rockgate Capital Corp., which lost 5 per cent yesterday, announced assay results from infill diamond drilling completed along strike of the southeast-trending Plateau Edge Structure. Four drills continue to extend mineralization from the southern boundary of the North Zone, expand Bodi Area mineralization, and step-out on Central Zone.
Aecon Group Inc. has been awarded an $85-million contract for site preparation and foundation construction of the Vale Clean AER (Atmospheric Emissions Reduction) Project in Sudbury. The contract includes construction of reinforced concrete foundations, pipe rack foundation and site preparation work for the process plant.
Horizon North Logistics Inc., which is trading near year highs, reported its fourth consecutive quarter of increasing consolidated revenues and EBITDAS. Its board of directors declared a dividend for the third quarter of 2012 at $0.05 per share.
Heroux-Devtek Inc., which is trading near year highs, reported first-quarter sales of $99.2-million, up 8 per cent from $91.9-million last year; EBITDA of $16.1-million, compared with $14.9-million; net income of $6.3-million, or $0.20 per diluted share, up from $5.8-million, or $0.19 per diluted share; a healthy balance sheet with cash and cash equivalents of $62.5-million and a net debt-to-equity ratio of 0.22:1.
Yukon-Nevada Gold Corp. announced assay results from its ongoing 2012 underground drilling program at the Jerritt Canyon gold operation in Nevada, U.S. Thirty-seven diamond core drill holes totaling 31,668 feet (9,659 metres) have been completed at the Smith Mine during the period Nov. 1, 2011 to July 31, 2012. Twenty-nine drill holes totaling 23,081 feet (7,040 metres) are categorized as exploration drilling while the remaining eight drill holes constitute resource conversion drilling.
TSO3 Inc., which gained 4.5 per cent Wednesday, announced that it has terminated the agreement with its channel partner the 3M Company for the exclusive supply, distribution, license and service of the new STERIZONE 125L+ Sterilizer.
Nuvo Research Inc., which is trading at year-low levels, said net income was $3.3-million in the second quarter compared with a net loss of $0.6-million a year earlier.
McMillan LLP, counsel for and on behalf of the agent to the lenders to Yellow Media Inc., announced that it has delivered a letter to the company advising that the lenders do not support the Canada Business Corporations Act plan of arrangement proposed by the company on July 23, 2012.