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A trader reacts at his desk at the Frankfurt stock exchange June 11, 2012.

ALEX DOMANSKI/REUTERS

Canadian issues that are moving on early news

PRD Energy Inc. has been awarded the Wittmund Exploration License covering approximately 248,000 acres in Germany. The licence is awarded for an initial period of five years and includes all rights surface to basement. PRD closed at 41 cents yesterday.

Marathon Gold Corporation, which rose 4 per cent yesterday, today announced the final results of the 2012 drilling program at the Golden Chest Mine, which returned 10.8 grams per tonne gold over 7.0 meters in drill hole GC 12-134.

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Conquest Resources Limited announced the appointment of Robert Kinloch as president and chief executive officer of Conquest Resources Limited following the retirement of Terence McKillen. Mr. Kinloch has served as a director of Conquest since March 2009.

Taipan Resources Inc. announced that it has commenced a farm-out process for Block 2B onshore Kenya. The company is currently in discussions with a number of potential farm-in partners and expects to announce a definitive farm-out agreement by year-end 2012 subject to the approval of the government of Kenya.

New Flyer Industries Inc. announced that San Francisco Municipal Transportation Authority, which oversees all transportation in the City, including the Municipal Railway, has approved the purchase of 45 heavy-duty 40-foot Xcelsior diesel-electric hybrid buses. No financial details were provided.

Cequence Energy Ltd. announced the results from its first Falher horizontal well at Simonette/Resthaven. Cequence said it is pleased with the results of this exploratory success. The Falher potential adds to the already extensive Montney, Wilrich and Dunvegan resource opportunities identified on Cequence's 220 section Simonette land base.

Sandvine Corp. today announced that it has received over $5-million in Network Policy Control expansion orders for a tier-1 customer in its Asia Pacific sales region. During its third quarter, Sandvine won seven new service provider customers, including two from the Asia Pacific sales region.

Ballard Power Systems, which is trading near a year low 91 cents, announced signing of an equipment supply agreement (ESA), effective through October 2013, with its new African distributor, Inala Technologies. The ESA provides for up to 192 ElectraGenTM-ME methanol fuelled power generation systems over its term. A purchase order for the first 32 systems has also been received, with plans for deployment of these systems in the network of a major African mobile telecom operator.

Discovery Air Inc. said second-quarter net profit attributable to the shareholders was $8.9-million or $0.61 per share ($0.38 diluted) compared to $18.0-million or $1.24 per share ($0.96 diluted) for the same period last year. The current quarter profit includes a gain of $0.3-million related to the acquisition of the assets of Northern Air Support Ltd. Excluding these items, the adjusted earnings in the current quarter was $8.6-million, compared to $13.7-million in the same quarter last year.

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Freeport Resources Inc., which is trading at year lows, announced the bulk-loading strategy required for commercial-scale production at its Hutton Garnet Beaches project has proven feasible.

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