Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
Wajax Corp. (WJX-T) reported a third-quarter revenue increase of 23 per cent to $367.4-million from $297.9-million in the third quarter of 2017.
Net earnings were $10.3-million or 52 cents versus $8.7-million or 45 cents a year earlier.
Analysts were expecting revenue of $346.3-million and earnings of 53 cents.
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Katanga Mining Limited (KAT-T) says its 75-per-cent-owned operating subsidiary, Kamoto Copper Company SA will temporarily suspend the export and sale of cobalt at its Kamoto Project in the Democratic Republic of the Congo “until further notice.”
The company cited the presence of uranium recently detected in the cobalt hydroxide produced at the Kamoto Project "in levels that exceed the acceptable limit allowed for export of the product through main African ports to customers."
The company said the total cobalt production impacted by the sale suspension amounts to 1,472 tons of finished cobalt. “The low levels of radioactivity detected in the uranium to date do not present a health and safety risk,” it stated, adding that production of cobalt at the Kamoto Project is expected to continue “without reduction in the quantity produced.”
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Hardwoods Distribution Inc. (HDI-T) reported third-quarter consolidated sales of $290.4-million, up 12 per cent versus last year. Analysts were expecting revenue of $294-million in the latest quarter.
Profit was $8.1-milion or 38 cents per share versus a profit of $7.3-million or 34 cents a year earlier.
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AKITA Drilling Ltd. (AKT.A-T) reported a net loss of $5.5-million or 24 cents per share on revenue of $22.5-million in the third quarter. The results compared to a net loss of $3.8-million or 21 cents per share on revenue of $14.9-million for the same period in 2017. Funds flow from operations decreased to a loss of $638,000 in the third quarter from $1.5-million in the corresponding period of 2017, the company said.
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Painted Pony Energy Ltd. (PONY-T) reported third-quarter revenue of $90.2-million, up from $50-million a year earlier. Analysts were expecting revenue to come in at $106.2-million.
Its net loss was $13.8-million or 9 cents per share versus a profit of $14.6-million or 9 cents a year ago.
Adjusted funds flow from operations came in at $30.3-million or 18 cents per share versus $29.7-million or 18 cents a year ago.
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Great Canadian Gaming Corp. (GC-T) reported third-quarter revenues of $343.2-million more than double from $159.6-million a year ago.
"Our third quarter results reflected a full three months of operations from the West GTA Gaming Bundle, which is under Great Canadian's management since May 1, 2018, and approximately one month of new revenues for Casino Woodbine generated from the introduction of table games and additional slot machines," stated CEO Rod Baker. "We expect the new table games, which have been well received by the market, to help develop our customer base."
Net earnings of $52.6-million or 82 cents per share compared to earnings of $26.9-million or 43 cents a year ago. Analysts were expecting earnings of 84 cents per share and revenues of $327.7-million.
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Magellan Aerospace Corp. (MAL-T) said it has secured a six-year agreement with Airbus for a contract extension for the manufacture of A350 XWB centre wing box and keel beam detail parts.
It estimated revenue generated from the work package will exceed $140-million over the term of the contract.
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Stingray Digital Group Inc. (RAY.A-T; RAY.B-T) said it’s raising about $25-million in a private placement. It said Irving West has agreed to purchase about 2.5 million subordinate voting shares of Stingray at $10.29 each.
Irving West is a company controlled by Harry Steele, a former chairman of Newfoundland Capital Corp. Ltd, which was acquired by Stingray on Oct. 26, the company stated.
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StorageVault Canada Inc. (SVI-X) said it has an agreement to buy two stores in Ontario for a total of about $10.5-million. “These Acquisitions are in current StorageVault markets providing additional scale to operations,” the company said, adding the purchases mean ti will own 107 stores across Canada for a total of 161 stores including managed stores.
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Wayland Group (WAYL-CN) said it has entered the South American market through the purchase of Colma Pharmaceutical SAS, a licenced producer of THC cannabis in Colombia. Under the terms of the agreement, Wayland will issue 11 million common shares at $2 each.
Wayland said it will cultivate THC cannabis outdoor and year-round with an infrastructure investment including 415,000 sq. ft. of processing and clone and vegetation greenhouse facilities to support outdoor cannabis flower production of 125 hectares.
“Our move to outdoor cultivation in Colombia is the first step in creating a reliable and consistent mass supply of cannabinoid isolates for the global market,” stated Ben Ward, CEO.
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Slate Office REIT (SOT.UN-T) reported net operating income of $26-million in the third quarter, an increase of $7-million compared to the same quarter last year. Rental revenue was $54.5-million, an increase of $13.3-million compared to a year ago and below expectations of $57.4-million
Net income was $17.7-million down from $23.6-million a year earlier. Funds from operations came in at $15.1-million or 20 cents versus $12.4-million or 20 cents a year ago. Analysts were expecting FFO of 21 cents in the latest quarter.
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BlackPearl Resources Inc. (PXX-T; PXXA-Q) said its oil and natural gas sales increased 86 per cent to $61-million in the third quarter compared to $32.9-million in sales during the same period in 2017. “The increase reflects a 53-per-cent increase in oil production and an 18-per-cent increase in our average realized sale price,” the company stated.
Net income was $1-million or a penny per share versus a loss of $5.4-million or 2 cents a year ago.