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Market: TSX
Sector: General Mining
EPIC: TSXC
Latest Price: 12,613.00  (0,00%)
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TSX News: CAE, Black Iron, Extorre Gold Mines, Sears Canada and more

16th May 2012, 3:56 pm by Proactiveinvestors
TSX News: CAE, Black Iron, Extorre Gold Mines, Sears Canada and more

Flight simulation and training company CAE (TSE:CAE)(NYSE:CAE) said Wednesday it has acquired privately-held airline pilot training company Oxford Aviation Academy in a deal pegged at $314 million.

The move will bolster CAE’s training centre footprint and flight training network, the Montreal-based company said.

Canadian Zinc Corp. (TSE:CZN) narrowed its first-quarter loss, but also said Wednesday that capital costs for its Prairie Creek mine will be higher due to new features and cost inflation.

The junior explorer narrowed its loss to $2.53 million from the year-ago net loss of $14.24 million for the three months ended March 31.

Black Iron (TSE:BKI) said Tuesday that assay results from five additional infill drill holes at its Shymanivske project in Ukraine continue to confirm thick iron bands with grades well past 30 percent iron.

The iron ore explorer said that hole BISH-9 intersected 104.3 metres grading 32.7 percent iron including 56.7 metres grading 34.1 percent iron.

Birchcliff Energy (TSE:BIR) said Wednesday that in the face of low natural gas prices, posting earnings "is a testament" to its "very low cost of operations."

The Calgary-based company posted earnings of $3.7 million or three cents per share for the first quarter of 2012, down 61 percent from $9.6 million or eight cents per share in the same quarter last year.

Extorre Gold Mines (TSE:XG) (AMEX:XG) said Wednesday it was “encouraged by many of the early results” as it intersected more high-grade drill targets at its Cerro Moro project in the Santa Cruz province of Argentina.

Department store Sears Canada (TSE:SCC) said it swung to a first-quarter profit on Wednesday thanks to a $164.3 million pre-tax gain from lease terminations.

The company posted a profit of $93.1 million, or 91 cents per share, in contrast with the year-earlier net loss of $47 million, or 45 cents a share.

Tethys Petroleum (LON:TPL, TSE:TPL) has increased the resource estimate for its Kazakhstan assets to 1.17 billion barrels of oil.

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