Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
"As dining rooms slowly reopen across Canada, many may assume the crisis for restaurants has passed," the company stated. "Yet with government mandates on capacity limits, supporting restaurant operators across the country is more critical than ever. Recipe's rent subsidy program provides franchisees additional economic support and allows more time for franchisees to recover financially."
The company said the move is in addition to a new royalty subsidy program it announced. It said both subsidy programs will continue until the end of 2020.
The company also said it continues to negotiate with landlords for assistance with ongoing rent support "until sustainable sales levels return."
Golden Star Resources Ltd. (GSC-T), a gold mining company that owns and operates the Wassa and Prestea underground mines in Ghana, West Africa, announced that a second team member has tested positive for COVID-19 and that both employees have had mild symptoms and are being closely monitored.
"Consistent with the company's COVID-19 management protocols and those of the Ghana Health Service, contact tracing has been carried out and as a result close to 60 members of our Prestea team are currently in quarantine and awaiting test results," the company stated. It said the majority are involved in mining and engineering activities.
"As a result, site management is revising planned operations in the short-term in order to ensure the safety of all team members and to allow for possible critical skill shortages," it stated. "This is likely to have some impact on production from 24 Level over the coming weeks until employees who are currently in quarantine are able to safely return to work. At this stage, it is anticipated that the impact on development activities on 17 Level, which are crucial to the longer-term viability of the operation, will be minimal."
Silvercorp Metals Inc. (SVM-T) announced fourth-quarter revenue of US$18.9-million down 46 per cent compared to US$35-million a year ago. It said the decrease was “mainly due to lower production and the decrease in net realized selling prices.” Analysts were expecting revenue of US$18.9-million. Net income was US$3.2-million or 2 US cents per share, compared to US$12.1-million or 7 US cents per share a year ago.
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