RICHARD DREW
RuggedCom Inc. announced its financial results for the third quarter of fiscal 2012. Net income was $2.8-million, compared to $3.4-million in the comparable period a year ago. Third-quarter basic earnings per share were $0.23 compared to $0.28 for the same quarter last year while fully diluted earnings per share were $0.22 compared to $0.27 for the same quarter last year, as reported under IFRS.
Fibrek Inc. announced today that, in light of the Bureau de decision et de revision's (Quebec) Feb. 9, 2012 decision to issue a cease trade order with respect to Fibrek's shareholder rights plan, the Toronto Stock Exchange has determined to reject the Plan for filing. The Board of Directors continues to unanimously recommend that shareholders accept and tender their common shares to the offer made by Mercer International Inc. to acquire all of the issued and outstanding common shares of Fibrek by way of take-over bid and to reject and not tender their common shares to the unsolicited offer made by AbitibiBowater Inc .
Junior oil and gas company Bengal Energy Ltd. announced its financial and operating results for the third quarter ended Dec. 31, 2011. It reported a net loss of $477,000 (0.01 per share) compared to $1.1-million (0.04 per share). Average overall production was 157 boe/d for the quarter, an increase of 21 per cent over 130 boe/d in the previous quarter and 67 per cent higher than the 94 boe/d reported last year; Reported revenue was $1.3-million for the quarter, a 31 per cent increase over the prior quarter and a 209 per cent increase over last year.
First Uranium Corporation , which edged closer to year lows yesterday, overnight released its results for the third quarter of fiscal year 2012. The company reported consolidated pre-tax losses of $110-million for third-quarter 2012. The $180-million impairment of the Ezulwini Mine's assets was the primary driver for the pre-tax loss.
Boyuan Construction Group Inc., reported its financial results for the three-month period ended Dec. 31, 2011. After-tax net income for second-quarter 2012 was $3.1-million (U.S.), or $0.11 per fully diluted share, compared to net income of $3.3-million, or $0.14 per fully diluted share, for second-quarter 2011. The slight decrease in net income was a result of higher revenues from increased sales being primarily offset by higher interest expense and a higher MTR charge.
Galway Resources Ltd. , which fell nearly 4 per cent yesterday, announced assay results from nine diamond drill holes at its Vetas gold-silver project. Very high grade results continue to be received as noted by Hole 21, which intersected 1,082.6 g/t Au and 718.0 g/t Ag over 1.2 meters, 95.6 g/t Au and 16.9 g/t Ag over 1.3 meters, 77.1 g/t Au and 51.3 g/t Ag over 1.1 meters and 17.8 g/t Au and 77.7 g/t Ag over 2.3 meters.
Golden Reign Resources Ltd. today reported additional assay results from the 2011/2012 definition drill program underway at the San Albino Mine area of its flagship San Albino-Murra Gold Property in Nueva Segovia, Nicaragua. Drill holes SA 11-41, SA 11-42 and SA 11-43 have proven the northeast extension of the San Albino and Arras mineralized structures. Despite drilling through an area of extreme disturbance, where at least 2 fault zones appear to converge, each hole intersected both the San Albino and Arras mineralized zones.
PHX Energy Services Corp. , which provides horizontal and directional drilling services to oil and natural gas exploration and development companies, announced that its Board of Directors has declared a cash dividend of $0.04 per common share. The dividend is payable on March 15, 2012 to shareholders of record at the close of business on Feb. 29, 2012.
Argentex Mining Corporation today announced that its 2012 exploration program has commenced on its Pinguino silver-gold project in Santa Cruz province, Argentina. The 10,000 meter drill program, comprised of approximately 100 drill holes, will focus on prioritized targets within already identified areas of discovery.