A worker oversees gold smelting operations. The market is now paying about $180 (U.S.) an ounce of reserves to purchase assets – only a little more than half what it was paying in 2011.Mathieu Dupuis
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.
Endeavour Mining Corp. has announced that it has achieved approximately 83 per cent of its full year 2014 production guidance of 400,000 to 440,000 ounces after nine months of operations. On a year-to-date basis, Endeavour's Agbaou, Nzema and Youga mines are all ahead of the mid-point of the production guidance ranges for each mine.
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Slate Retail REIT said that it has entered into a binding agreement to purchase Stadium Center, a 92,365-square foot grocery-anchored shopping center located in Port Huron, Michigan for $5.3 million (U.S.), or $58 per square foot.
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Lara Exploration Ltd. has agreed with partner Kiwanda Mines LLC to sell the rights and options held under their phosphate alliance and coal alliance, to Australian Securities Exchange-listed Phillips River Mining Limited.
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Cosigo Resources Ltd. announced the initiation of a strategic review process that will include the formation of an independent committee of the board for identifying, evaluating and recommending strategic options for the future of the company and its stakeholders.
"The decision follows recent discussions with a dissident shareholder, which yesterday circulated a broadcast email to all shareholders soliciting support for a change of management and raising concerns about a proposed financial advisory services engagement currently under consideration by the board," the company said in a statement.
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Struggling Sears Canada Inc., whose U.S. owner plans to unload most of its stake in it in a rights offering, is getting a temporary new boss. Sears Canada said Ronald Boire is becoming acting chief executive officer, effective immediately. Previously he was chief merchandising officer at U.S. parent Sears Holdings Corp. as well as president of its two key retail divisions, Sears and Kmart Corp.
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The Cash Store Financial Services Inc. said it is seeking court approval of a proposal "aimed at preserving company resources, while meeting its obligations to comply with a document production demand by the Alberta Securities Commission related to an investigation by the ASC."
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Kootenay Silver Inc. has announced a substantial new silver discovery at its La Negra Diatreme Breccia property near Sonora, Mexico.
"Based on its ideal proximity and its distinct geological characteristics, La Negra exhibits excellent potential to evolve into a substantial, low-cost, near surface silver resource," said Kootenay president and CEO James McDonald, in a statement.