Launched last year, the Star One C3 satellite provides communication and TV broadcasting services for Brazil and South America. COM DEV International Ltd., based in Cambridge, Ont., provided hardware subsystems for the satellite.
Inside the Market's roundup of some of the Canadian small caps making news and on the move today. This post will be updated through the morning.
Argent Energy Trust has increased its average annual production guidance for 2014 from the previously expected range of 6,200-6,300 boe/d to 6,500-6,600 boe/d. Fourth quarter 2014 production is expected to be approximately 6,500 boe/d, the company said.
Shares in the company, which carries a dividend yield of 12.5 per cent, were up 6.6 per cent in TSX afternoon trading.
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COM DEV International Ltd. has announced that it has been awarded a fully funded contract in excess of $13-million to deliver Ka-band equipment to be used on a high throughput communications satellite. Work on the contract will be carried out at the company's facility in Cambridge, ON with completion expected by November 2015.
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Semafo has announced it will be making a takeover bid for 100 per cent of Orbis Gold Limited at $0.65 (Australian) per share. The minimum acceptance condition for the cash bid is 50.1 per cent, which Semafo says underlines the seriousness of its bid.
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Cervus Equipment Corp. said it has completed its acquisition of Evergreen Equipment Ltd.
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South Gobi Resources Ltd. said it "continues to operate under difficult market conditions. Coal prices in China and sales volumes remained under pressure in the third quarter of 2014 as a result of strong seaborne and domestic supply coupled with soft demand for coal in China. These difficult market conditions are expected to continue through the end of 2014."
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Armtec Infrastructure Inc. said all conditions related to a previously disclosed agreement to settle proposed class action proceedings against the corporation and others commenced by investors who purchased shares during the period of March 24, 2011 through June 8, 2011 have been satisfied. "This settlement provides for a payment in the amount of approximately $12.9-million, inclusive of all taxes, fees, interest and costs, which amount will be paid by Armtec's insurers and, accordingly, will not impact Armtec's cash resources."
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Dundee Energy Ltd. said its Castor Project "is to remain mothballed until the Spanish government is satisfied with technical studies and reports on the commissioning of such facilities."
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Pure Technologies Ltd. said its unit, Pure Technologies U.S. Inc. has been selected by the city of Baltimore to lead a multi-year program to provide services related to the management of large-diameter water transmission pipelines. The five-year contract is worth $20-million (U.S.).
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Northcliff Resources Ltd. said Todd Minerals Ltd. has advanced the third and final tranche of $4-million in funding as part of the consideration for its initial 11.5 per cent interest in the advanced-stage Sisson tungsten-molybdenum Project in New Brunswick.
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Canarc Resource Corp. has confirmed the termination of the share exchange agreement it previously signed with Santa Fe Gold Corporation. The conditions set forth in agreement were not satisfied, said the company.
Pursuant to the agreement, certain Canarc officers and directors were appointed to the Santa Fe management and board. Effective immediately, all individuals resigned from their roles as Santa Fe officers and/or directors.
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