Toronto's main market dropped for a second session on Monday as weak Chinese manufacturing data stoked concerns of an economic slowdown in Canada's second largest trading partner.
In corporate activity, SilverCrest Mines Inc. (TSE:SVL), a precious metals producer focused on Mexico, tumbled 12.3% to C$2.00 after reporting fourth-quarter earnings that lagged behind analysts’ estimates.
Shares of Avnel Gold Mining (TSE:AVK) surged 50% on Monday after the company reported a mineral resource estimate and preliminary economic report for its Kalana gold deposit in southwest Mali, saying the figures have prompted an immediate start of the next stage in the development process.
In the energy sector, the main index's second most heavily weighted group, Rock Energy Inc. (TSE:RE), an oil and gas producer operating in Alberta, jumped over 3% to C$5.24, earlier rising to the highest intraday price in three years. The company reported a narrower net loss and tripled funds from operations in the fourth quarter.
Pacific Rubiales Energy Corp. (TSE:PRE), the Canada-based oil company focused on Colombia, dropped 2.3% to C$18.65 after a media report suggested the company is working with Bank of America Corp. to review its strategic options. Separately, the company said in a statement on March 21 that it has revised its total proved plus probable net after royalties reserves to 613.3 million barrels of oil equivalent, down from 619.2 million boe.
Precision Drilling Corp. (TSE:PD), a drilling and energy services provider, gained 0.8% to C$12.83 after announcing new contracts in the Middle East and Mexico and saying it has raised its 2014 capital-spending budget to C$634 million.
In other stock news, Blackberry Ltd. (TSE:BB), the Waterloo, Ontario-based smartphone maker, rose 1.6% to C$10.35 after Cormark Securities Inc. lifted its price target for the stock and increased its rating to "speculative buy".
Moving to junior stocks in Canada, Supreme Pharmaceuticals (CVE:SL), a Calgary-based company focused on the emerging medical marijuana sector, announced today that it has signed a conditional agreement with an arms-length South Okanagan-based entity for its producing medical marijuana business. According to the news release, the company is entitled to purchase the MMJ producing facility for up to 12 months for a total of $1.0 million in cash and shares.
Canamex Resources Corp. (CVE:CSQ)(OTCQX:CNMXF) has acquired more private land at its Bruner gold project in Nevada, where a 53-hole drilling program is underway. The company told investors that the additional 20-acre patented Elk Lode mining claim was purchased to complement the patented and unpatented land covered in the option agreement under which Canamex is buying into the Bruner property.
Global Cobalt (CVE:GCO) released Monday further drill results from its Karakul project in Russia, saying they validate the presence of expected mineralization with "good correlation at depth and along strike". Of the highlights, hole 208 intersected 0.481% cobalt, or 1.643% cobalt equivalent, over 1.30 metres and hole 209 returned 0.24% cobalt over 2.10 metres. Hole 203 also hit 0.311% cobalt over 1.5 metres.
Fission Uranium (CVE:FCU) advanced 1.2% to C$1.63 after hitting new records with drill results from its Patterson Lake South property in Saskatchewan's Athabasca Basin.
RESAAS Services (CSE:RSS) has added AmeriTeam Realty to its social networking platform for real estate professionals as the popularity of its service continues to grow. AmeriTeam Realty is a real estate brokerage in Florida, with corporate offices located in Orlando and agents covering Central Florida and the Tampa Bay, Miami/Fort Lauderdale, Palm Beach and Cape Coral areas. Reported by Proactive Investors 6 hours ago.
In corporate activity, SilverCrest Mines Inc. (TSE:SVL), a precious metals producer focused on Mexico, tumbled 12.3% to C$2.00 after reporting fourth-quarter earnings that lagged behind analysts’ estimates.
Shares of Avnel Gold Mining (TSE:AVK) surged 50% on Monday after the company reported a mineral resource estimate and preliminary economic report for its Kalana gold deposit in southwest Mali, saying the figures have prompted an immediate start of the next stage in the development process.
In the energy sector, the main index's second most heavily weighted group, Rock Energy Inc. (TSE:RE), an oil and gas producer operating in Alberta, jumped over 3% to C$5.24, earlier rising to the highest intraday price in three years. The company reported a narrower net loss and tripled funds from operations in the fourth quarter.
Pacific Rubiales Energy Corp. (TSE:PRE), the Canada-based oil company focused on Colombia, dropped 2.3% to C$18.65 after a media report suggested the company is working with Bank of America Corp. to review its strategic options. Separately, the company said in a statement on March 21 that it has revised its total proved plus probable net after royalties reserves to 613.3 million barrels of oil equivalent, down from 619.2 million boe.
Precision Drilling Corp. (TSE:PD), a drilling and energy services provider, gained 0.8% to C$12.83 after announcing new contracts in the Middle East and Mexico and saying it has raised its 2014 capital-spending budget to C$634 million.
In other stock news, Blackberry Ltd. (TSE:BB), the Waterloo, Ontario-based smartphone maker, rose 1.6% to C$10.35 after Cormark Securities Inc. lifted its price target for the stock and increased its rating to "speculative buy".
Moving to junior stocks in Canada, Supreme Pharmaceuticals (CVE:SL), a Calgary-based company focused on the emerging medical marijuana sector, announced today that it has signed a conditional agreement with an arms-length South Okanagan-based entity for its producing medical marijuana business. According to the news release, the company is entitled to purchase the MMJ producing facility for up to 12 months for a total of $1.0 million in cash and shares.
Canamex Resources Corp. (CVE:CSQ)(OTCQX:CNMXF) has acquired more private land at its Bruner gold project in Nevada, where a 53-hole drilling program is underway. The company told investors that the additional 20-acre patented Elk Lode mining claim was purchased to complement the patented and unpatented land covered in the option agreement under which Canamex is buying into the Bruner property.
Global Cobalt (CVE:GCO) released Monday further drill results from its Karakul project in Russia, saying they validate the presence of expected mineralization with "good correlation at depth and along strike". Of the highlights, hole 208 intersected 0.481% cobalt, or 1.643% cobalt equivalent, over 1.30 metres and hole 209 returned 0.24% cobalt over 2.10 metres. Hole 203 also hit 0.311% cobalt over 1.5 metres.
Fission Uranium (CVE:FCU) advanced 1.2% to C$1.63 after hitting new records with drill results from its Patterson Lake South property in Saskatchewan's Athabasca Basin.
RESAAS Services (CSE:RSS) has added AmeriTeam Realty to its social networking platform for real estate professionals as the popularity of its service continues to grow. AmeriTeam Realty is a real estate brokerage in Florida, with corporate offices located in Orlando and agents covering Central Florida and the Tampa Bay, Miami/Fort Lauderdale, Palm Beach and Cape Coral areas. Reported by Proactive Investors 6 hours ago.