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A miner drills into a rock face in a South African gold mine in this file photo. The country's mining sector needs investment in infrastructure to keep up with its rivals.

Peter Andrews/Reuters

Canadian issues that are moving on early news

Renaissance Gold Inc. reported fiscal 2012 net loss of $4-million compared to last year's $5.3-million. Working capital at June 30, 2012 was $7,359,029 of which $7,443,385 is cash. No analyst estimates were available for comparison.

The Churchill Corporation, which fell 5 per cent Wednesday, announced an update on leadership, initiatives to improve performance and productivity, financial outlook and new project awards.

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Avigilon Corp announced Andrew Martz, Avigilon's current chief operating officer, will resign from his role at the end of 2012 to pursue other endeavours. Mr. Martz will stay on as an adviser for six months after he steps down to ensure a successful transition. The role of the COO will be split into two new positions, an executive vice president of product development and an executive vice president of global operations.

Golden Minerals Company said payable production at Velardena Operations in Mexico for the third quarter was approximately 120,000 ounces of silver and 1,900 ounces of gold, 28 per cent higher for silver and 27 per cent for gold, as compared to the second quarter. For the first 3 quarters payable production was approximately 325,000 ounces of silver and 5,100 ounces of gold. AUM closed at $4.39 yesterday, trading near year lows.

Lara Exploration Ltd. has optioned the Chocos Polymetallic Project in southern Peru to CJL Capital Inc. of Quebec City. Under the terms of the agreement, CJL will invest a minimum of $400,000 (U.S.) over 3 years and make payments in cash and shares to Lara totaling $450,000 over 3 years to earn a 100 per cent interest in the project.

San Gold Corporation reported preliminary results of operations at its Rice Lake Mining Complex in Manitoba for the quarter ended September 30, 2012. The company said production was a record 27,084 ounces. Mill production was 191,105 tons and mine production was 143,949 tons. SGR has gained 5 per cent yesterday.

Duluth Metals, which fell 2 per cent Wednesday, highlighted 155 feet of 1.371 per cent Copper, 0.281 per cent Nickel and 0.863 grams total precious metals at west Maturi in the Twin Metals Minnesota Project.

Calvalley Petroleum Inc. provided an update on the drilling of the Ras Nowmah 4 appraisal well in Yemen, the second of two appraisal wells recently drilled offsetting the Ras Nowmah 2 discovery well that was drilled in 2010.

Gran Colombia Gold Corp. announced results from the latest underground drill hole in the deep zone at its Marmato Project in Colombia. Highlights from hole MT-1500 include 1.6 grams per tonne of gold and 1.5 grams per tonne of silver over 618 meters of drilling. The hole also includes 16.9 meters with 35.2 grams per tonne of gold, with a 1.8 meter section containing 159 grams per tonne of gold, from a depth of 872 metres.

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Hawk Exploration Ltd. provided an operational update on its recent drilling activity.

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