Canadian issues that are moving on early news
Electrovaya Inc., which rose 2 per cent yesterday, has agreed to increase its position from 78.1 per cent to 99.6 per cent of the shares of Miljobil Grenland AS. Paul Hart, CEO, said: "In addition to a new European base to support our marketing and technical efforts, we have significant battery testing and validation capabilities as well as access to many new maritime opportunities."
Nevada Copper Corp. reported the latest step-out and expansion drill results from its 100 per cent owned Pumpkin Hollow Property. The company said results continue to expand mineralization along the southern edge and at depth. NCU has gained 4 per cent yesterday.
Laurion Mineral Exploration Inc. said it will focus on resource development at its Sturgeon River property in Beardmore, Ontario, using funds from the disposition transaction announced last week from the sale of its Bell Mountain property. Inclusive of the Bell Mountain disposition, Laurion has realized a total of $6.35-million in the last two years from monetization of its assets. LME has hit year low 3 cents yesterday.
Patheon Inc., which rose nearly 4 per cent and nearer to a year high $2.98 on Wednesday, said income before discontinued operations for the quarter was $15.5-million or 12 cents per share, both basic and diluted, compared to income before discontinued operations of $0.6-million or 5 per cents per share, both basic and diluted, in the same period last year. Based on encouraging revenue trends in the first nine months of the year the company is increasing its full year revenue guidance. The company expects 2012 revenue to exceed $735-million.
Transat A.T. Inc. posted third-quarter net income of $9.4-million $0.25 per share on a diluted basis, compared with a net loss of $2.8-million $0.07 per share on a diluted basis in 2011. Before non-cash and non-operating items, Transat reported an adjusted after-tax income of $10.5-million $0.28 per share on a diluted basis, compared with $2.8-million $0.07 per share on a diluted basis in 2011.
Galway Resources Ltd. announced an initial mineral resource estimate and positive metallurgical results from the first 30 months of drilling at its California gold-silver property in Colombia. Gold recoveries range from 93-99 per cent.
DHX Media Ltd., which is trading near a year high $1.55, announced that The Jim Henson Company has made the first international sale of the preschool series DOOZERS, a co-production between DHX and The Jim Henson Company, to Turner Broadcasting for their preschool channel, Cartoonito, in Europe, the Middle East and Africa, to air beginning in fall of 2013.
Royal Nickel Corp., which gained 5 per cent Wednesday, reported that it has received confidential non-binding indicative partnership proposals from potential partners interested in participating in the development of RNC's Dumont Nickel Project.
Bioniche Life Sciences said its basic and fully-diluted net loss per share for fiscal 2012 was $0.24, as compared to a net loss per share of $0.14 in fiscal 2011.
Cymat Corp. reported a first-quarter net loss of $609,998 compared to a net loss of $984,029. Revenues decreased by approximately $202,000, or 37 per cent, as the result of a decrease Alusion sales regarding the Congress Center in Mallorca Spain of approximately $321,000. Other transactional sales were up by approximately $119,000, or 175 per cent, on a quarter-over-quarter basis.