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Kevin Van Paassen/Kevin Van Passen/The Globe and Mail

Alexa Life Sciences has hit new year highs Monday after both Paladin Labs Inc. and Valeant Pharmaceuticals International raised their bids for the over-the-counter drug-maker. Paladin set off the new round of bidding last night, raising its offer to 81 cents a share, contingent on regulators in Alberta later today forcing Afexa to set aside its shareholder rights plans. But Valeant trumped that bid this morning, offering 85 cents.

Trade Winds Ventures Inc. is closing in on year highs on news that it entered into a definitive agreement with Detour Gold Corporation that will see Detour Gold acquire all of the issued and outstanding common shares of Trade Winds, by way of a court approved plan of arrangement, for total consideration of $84 million. A trading halt had been placed on TWD early Monday. Under the terms of the agreement, Trade Winds shareholders will receive 0.0142 of a Detour Gold share and C$0.0001 in cash for each Trade Winds share held. Based on Detour Gold's share price on September 23, 2011, this represents total consideration of C$0.455 per Trade Winds share and a premium of 57% to Trade Winds' closing price on September 23, 2011. Based on the respective 20-day volume weighted average prices of Detour Gold and Trade Winds, as at September 23, 2011, the consideration represents a premium of 61 per cent. The principal assets of Trade Winds are its interest in the 50/50 joint venture with Detour Gold in respect of the Block A property, located adjacent to Detour Gold's Detour Lake project, and its wholly-owned Gowest property, which is also located in the Detour Lake area.

Goldgroup Mining Inc. fell as much as 5 per cent early Monday after announcing that it has entered into an agreement with Almaden Minerals Ltd. to purchase its 30 per cent interest in the Caballo Blanco project. Almaden eased to $2.81 in the early minutes of Monday's session but managed to recoup these losses quickly. Upon completion of the transaction, Goldgroup will own 100 per cent the Caballo Blanco project. In consideration for acquiring the remaining 30 per cent interest in the project, at closing Goldgroup shall pay to Almaden a cash consideration of US$2.5 and issue to Almaden 7 million of its common shares. An additional 7 million of its common shares will be issued to Almaden under conditions. Goldgroup will also transfer to Almaden its 40 per cent interest in the El Cobre property and grant a 1.5 per cent net smelter royalty interest on the Caballo Blanco project to Almaden. Goldgroup shall also pay US$650,000 and provide a 0.4 per cent net smelter royalty on the Caballo Blanco project to the original claimholder of the property in settlement of certain rights and subject to certain terms and conditions. Upon completion of the transaction, Goldgroup's Caballo Blanco project will be subject to an aggregate 2.95 per cent net smelter return royalty, which includes a prior 1.5 per cent net smelter return royalty over the 70 per cent interest Goldgroup acquired from NGEx Resources Inc.

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Horn Petroleum Corp. started this morning at $1.00 a share following a 186 per cent rocket shot for the oil and gas exploration company during in its first day of TSX Venture Exchange trading on Friday, when it touched $1.05. Horn, formerly Denovo Capital Corp., earlier last week completed its qualifying transaction by acquiring all of the outstanding shares of Canmex Holdings I Ltd., a one-time subsidiary of Africa Oil Corp. with assets in Puntland, Somalia, in exchange for just over 18 million shares of Horn stock. As part of the deal, Africa Oil also bought another 11.1 million Horn equity units in a private placement priced at 90 cents per unit and now owns a 51.4 per cent stake in Horn.

Legal skirmishing continues to heat up between Garrison International Ltd. and a director on the board of the junior mining company's directors, with Garrison this weekend saying the two sides participated in Sept. 21 court hearing seeking to determine ownership of the company's gold exploration properties in Mongolia. Garrison Director Georges Cohen is alleged in late January to taken mining and exploration licenses as well as the company stamp out of the Garrison Asia LLC office in Ulaan Baatar and used the stamp to transfer ownership of the subsidiary away from Garrison, contending the company had defaulted on a $300,000 loan. Cohen later filed suit in Quebec and Mongolia, seeking $17.3 million in damages, but has since offered to drop those cases in exchange for $2 million in cash. Garrison shares have fallen 60% since the dispute started.

Auryx Gold Corp. has adopted a shareholder rights plan, intending to give the Auryx board sufficient time to solicit alternative offers in the event another company makes an unsolicited buy-out proposal for the Namibia gold exploration firm. The rights plan, similar to shareholder plans adopted at other Canadian companies and already accepted by regulators, was not put forward in response to any particular bid to acquire Auryx, the company said.

Discovery Air Inc. was flying slightly higher on news that it is planning for a 10-for-1 consolidation of its oustanding stock, with the contract flyer reducing the overall number of shares issued from nearly 145.6 million shares to a new total of just under 14.6 millions shares. Shareholders previously approved the move in June during Discovery's annual meeting. Discovery and Clairvest Group Inc. - which is down 1 per cent today- on Friday also announced a deal that has the private equity firm investing $70 million in Discovery by purchasing debentures convertible into 93.3 million shares of common stock.

Lakeside Steel Inc. was down 15 per cent after about 30 minutes of trading, but that was well above the near two year low of 15 cents touched early in today's session after the company said revenues fell 15 per cent from year-ago levels to $53 million during its fiscal first quarter while the net loss widened to $1.1 million from $810,000 last year. Lakeside said margins were negatively impacted by rapid increases in steel prices, resulting in higher input costs, while customer demand for plain end pipe decreased due to capacity constraints among thermal and end-finishing processors.

Rockwell Diamonds Inc. jumped as much as 6 cents or 12.5 per cent early Monday after announcing the results of second quarter sales of its diamond production from South African operations. It said total proceeds of $7.0 million were generated from the sale of 3,223 carats. The average price per carat for the quarter was US$2,187, demonstrating the high quality of stones sold, it said.

Azure Dynamics Corporation , a world leader in the development and production of hybrid electric and electric components and powertrain systems for commercial vehicles, announced today that Auto-Strunk GmbH has become the latest European dealership to sign a sales and service agreement for the innovative Ford Transit Connect Electric van, which will be available via Auto-Strunk locations in both Cologne and Langenfeld (Rhineland), Germany. No financial details were provided.

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Buchans Minerals Corporation announced assays results for the final two holes of its recently completed five-hole drilling program on the Plymouth manganese deposit in New Brunswick, Canada. The deposit is located within the company's 100 per cent owned, 5,800 hectare Woodstock project that covers several large undeveloped historic manganese-iron deposits that collectively may represent one of the largest undeveloped manganese resources in North America.

Seair Inc. , which develops proprietary equipment that diffuses gases, such as oxygen, ozone and carbon dioxide, into liquids, announced it has sold two dissolved air flotation systems to customers in Canada and the United States for total proceeds of approximately $260,000.

Invenio Resources Corp. said it has completed field work for the season at its Ganes Creek and Candle Hills gold projects in Alaska without any drilling due to unfavourable market conditions and the lack of suitable equipment. Several areas at Ganes Creek were extensively mapped along with 42 line kilometres of geophysical surveys, tying together previous induced polarization grids. Work at Candle Hills consisted of line cutting, geological mapping and rock and soil sampling.

Mosaid Technologies Inc. again asked its shareholders not to tender their shares to Canadian patent-holding peer WiLan Inc., which has made a $38 per share or near $480 hostile bid for the company in August. Mosaid shareholders last week voted in favor of retaining a poison pill defense, and also agreed to allow a two-for-one split of the company shares. WiLan touched a day high $6.30 earlier, but has since given up some of its gains, although it does remain higher. provides real-time U.S., Canadian and global stock, exchange-traded fund and economic news and trading ideas to both individual and professional investors worldwide.

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