Canaco Resources Inc. jumped more than 10 per cent early Monday after announcing new assay results from diamond drilling at the Magambazi gold discovery on the company's Handeni project in Tanzania. It said seven diamond drill rigs continue drilling at Magambazi, where the recent focus is on delineation and extension of known mineralization at the Main, Western, Cave and Southern Gneiss lodes. Results have been received for 21 new drill holes.
CGX Energy Inc. is again receiving plenty of attention today after announcing that in anticipation of commencing operations offshore Guyana the company has made two key appointments - that of Chief Operating Officer Controller/Chief Accounting Officer. The stock rose to 87 cents in the early minutes of today's trading session but it soon came under selling pressure and dropped as much as 10 per cent. More than 1.5 million shares have changed hands already today. Something similar happened on Friday. CGX shares rose sharply early Friday before trading was halted. CGX later issued a statement saying it did not have a stake in a new discovery drilled by Tullow Oil plc off the coast of French Guiana.
Mosaid Technologies overcame early losses that saw it touch $39.25 early Monday. It has since turned positive after announcing that it is exploring a number of alternatives to Wi-Lan Inc's $480 million buyout offer. It said the suitor had made some inaccurate statements about Mosaid's operations last week, according to Reuters. The company said it has been approached by, and has itself initiated talks with several third parties,
Fashion apparel and footwear retailer Le Chateau Inc. has fallen as much as 20 per cent and hit its lowest levels in more than two years after reporting a more than 50 per cent drop in its second-quarter net earnings and quarterly dividend Friday.
PharmaGap Inc. , which closed Friday near a year low 6.5 cents, announced Monday that it has successfully completed the design, development, manufacture and testing of a liposome formulation of both basic and enhanced versions of its lead cancer drug GAP-107B8. The company said it will proceed to in vivo testing of both formulations in bladder and ovarian cancer models in order to select one formulation and cancer target for first human clinical trials.
Americas Petrogas Inc. rose by as much as 8 per cent early Monday after reporting that it has made a new significant discovery of oil (1,023 barrels of oil equivalent per day) in the first of the 3 exploration wells on the Rinconada Norte block located in the Neuquen Basin of Argentina. The company said the 3 wells shows strong production rates and possibility of significant commercial reserves.
Hydrogenics Corp. , developer and manufacturer of hydrogen generation and fuel cell products, announced it has received orders totaling $5 million for the delivery of electrolyzers to customers in Asia and South America. The company said the electrolyzers and associated services will be utilized by food processing facilities and thermal power plants, with delivery expected over the next 6 to 9 months.
BioteQ Environmental Technologies , a leader in the treatment of industrial waste water, was down near a year low 36 cents after announcing Monday that Jonathan Wilkinson has been appointed Chief Executive Officer, and will join BioteQ on October 11, 2011, replacing retiring CEO, Brad Marchant. The company said Mr. Wilkinson is a seasoned senior executive with extensive experience in the clean technology sector and public markets, leading companies through growth and change.
Endeavour Mining Corporation touched an early day low of $2.39 but soon started to recoup some ground after reporting positive results from the ongoing drilling at its Agbaou Gold project located in Cote d'Ivoire, West Africa. The company said "We continue to be very encouraged by the results at Agbaou...Any additions to reserves that may arise from this latest round of work can only serve to enhance the project."
20-20 Technologies Inc. , a leader in 3D interior design and furniture manufacturing software, announced Monday that it ended the third quarter 2011 with net earnings of $0.4 million or $0.02 per share, compared with net earnings of $0.8 million or $0.04 per share a year ago. Revenues, however, increased 17.6 per cent to $17.4 million, compared with $14.8 million a year ago. The stock closed Friday at a year low level of $2.75
Silvercorp Metals Inc. was down around 6 per cent early Monday after showing signs of recovery over the last two days of last week. Today, Silvercorp welcomed the British Columbia Securities Commission taking "quick and decisive" actions to investigate the allegations against the company in an anonymous letter dated August 29, 2011 (refuted by the company's in its September 2, 2011 news release), and in particular the BCSC's efforts to discover the anonymous letter writer's identity.