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TSX News: Great Panther, SemBioSys, Banro, Talison Lithium, Globex, Arise, Auryx Gold, and more

11th Oct 2011, 3:59 pm by Proactiveinvestors
TSX News: Great Panther, SemBioSys, Banro, Talison Lithium, Globex, Arise, Auryx Gold, and more

Great Panther Silver (TSE:GPR) (AMEX:GPL) announced Tuesday its initial resource estimate for the company's San Ignacio project in Guanajuato, Mexico, outlining 4.5 million inferred silver equivalent ounces. The company said the initial resource estimate represents only one third of the known strike extent of mineralization.

Endeavour Silver (TSE:EDR)(NYSE:EXK) said Tuesday that silver and gold production from the company's two operating silver mines in Mexico continued to rise year-on-year in the third quarter, while revenue for the period was up 93%. In Toronto, shares were up 6.5% to $9.95 Tuesday afternoon.

SemBioSys Genetics (TSE:SBS) said Tuesday that it has signed a multi-product and development deal with one of China’s largest drug makers Tasly Pharmaceuticals to commercialize its plant-based manufacturing technology.

Shares of SemBioSys, a biotechnology company that uses its plant seed oil body and protein expression technology platforms to develop drug candidates for health and wellness products, rose 8 cents, or 136.36 percent, rising to 13 cents Tuesday afternoon on the Toronto Stock Exchange.

Gold miner Banro (TSE:BAA)(AMEX:BAA) said Tuesday that it has produced gold for the first time at its Twangiza mine in the Democratic Republic of Congo.

Banro said it aims to ramp up production at the mine to 120,000 ounces per year by early 2012. The $209 million Twangiza project is expected to produce more than 1 million ounces of gold from oxide deposits over seven years, company added.

Talison Lithium (TSE:TLH) announced Tuesday that first quarter sales volumes rose 53% year-over-year, helped by strong demand for its lithium concentrate product from electric vehicle battery makers.

Globex Mining Enterprises (TSE:GMX) (OTCQX:GLBXF) and Queenston Mining (TSE:QMI) reported Tuesday positive results from a five hole, 2,405 metre drilling program at their 50/50 split Wood Pandora joint venture property near Cadillac, Quebec. New holes W‐11‐89 to ‐92 all intersected gold values within or adjacent to the Cadillac Break, the partners said, with one the deepest holes of the program, W‐11‐92, intersecting a 4.9 metre interval assaying 28.86 grams per tonne (g/t) gold, including 121.70 g/t gold over 1.1 metre at approximately 350 metres below surface.

Arise Technologies (TSE:APV) Tuesday placed its wholly-owned German subsidiary, Arise Technologies Deutschland, into structured insolvency. The company's Canadian operations are not presently affected, Arise added.

Curis Resources (TSE:CUV) announced Tuesday it intends to advance early operations at its Florence copper project in Florence, Arizona in early 2012, following the receipt of operating permits from the Arizona Department of Environmental Quality and the US Environmental Protection Agency. Once the appropriate permits are received, which the company expects in the first quarter of 2012, Curis said it will begin the first phase of its in-situ copper recovery.

Chinese state-owned oil company Sinopec (NYSE:SNP)(LSE:SNP) will buy Alberta-based oil and gas company Daylight Energy (TSE:DAY) in an all-cash deal valued at C$2.2 billion, the companies said Tuesday.

Sinopec's C$10.08 per share agreed bid for Daylight represents a 43% premium over Daylight's 60-day average price on the TSX. Daylight's board has unanimously approved the acquisition.

Gold producer B2Gold (TSE:BTO)(OTCQX:BGLPF) Tuesday agreed to buy rival Auryx Gold (TSE:AYX)(NSX: AYX), which owns a deposit in Namibia, for $160-million in cash and shares. The 88 cents per share price B2Gold is offering Auryx shareholders represents a 74% premium over its closing share price on October 7.

Centamin Egypt (TSE:CEE) (LON:CEY) produced 67 percent more gold in Q3 this year from its flagship Sukari Gold mine than in the corresponding quarter last year, the company said Tuesday. The firm said it remains on track to reach its target of producing 200,000 - 210,000 ounces of the yellow metal from the mine at a cash cost of around US$550 per ounce in 2011.

Toronto-based Black Iron (TSE:BKI) reported on Tuesday that initial test results confirmed commercial quality ore at its Shymanivske iron project in the Ukraine.

Extorre Gold Mines (TSE:XG) (AMEX:XG) announced Tuesday it has received the results from the final 33 of the approximate 100 holes on the Zoe discovery that are to be included in the new NI 43-101 compliant resource report for the Cerro Moro project in southern Argentina - due out next month.

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