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Sector:	General Mining
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Canadian news makers; Ely Gold & Minerals, ATCO, Talisman Energy, Lake Shore Gold Corp, Sears Canada

Thursday, February 23, 2012 by Proactive Investors

From North America: Solitario Exploration & Royalty Corp. (TSE:SLR)(AMEX:XPL) and Ely Gold & Minerals (CVE:ELY) announced positive feasibility study results on the Centennial gold deposit situated on the Mount Hamilton property in Nevada.

The feasibility study demonstrates robust economics with excellent potential for developing additional resources, the joint venture partners said. Solitario and Ely began working together on the property in 2010.

Rogers Communications (TSE:RCI.B)(NYSE:RCI) said Wednesday that fourth quarter net profits rose eight percent as wireless revenue grew two percent on a record number of new smartphone customers and iPhone activations.

For the three months that ended December 31, Canada's largest wireless company said net income was $327 million, or 61 cents per diluted share, versus $302 million, or 50 cents per diluted share, a year ago.

Nickel and thermal coal producer Sherritt International Corp. (TSE:S) said Wednesday its fourth quarter profit slipped 33 percent due to a charge tied to early debt extinguishment.

For the quarter that ended December 31, the company said net earnings fell to $28.1 million, or 10 cents a share, compared to a year-ago profit of $42.7 million, or 15 cents a share. Revenue came in at $536.8 million from $485.2 million a year earlier.

Alberta energy company ATCO (TSE:ACO.X) Wednesday posted a fourth-quarter profit of $102 million, up from last year's $72 million, while full-year 2011 earnings hit a record $327 million.

The profit improvement came from increased activity across most of its businesses, the Calgary-based firm said. Revenues for the period rose to $1.13 billion from $955 million.

Talisman Energy (TSE:TLM) Wednesday embarked on a partnership with Japan's Mitsubishi to develop natural gas properties in Papua New Guinea.

The Calgary-based oil and gas explorer said that Mitsubishi will pay about $280 million to form a joint venture on nine licences in the country. Talisman will hold about a 40 percent stake in the licences, while Mitsubishi will hold 20 percent.

Lake Shore Gold Corp. (TSE:LSG)(AMEX:LSG) saw its shares rise more than 11 percent Wednesday after it unveiled an updated NI 43-101 compliant resource at the Gold River Trend deposits on the west side of Timmins, which saw total ounces nearly triple and grades double.

The new resource totals 117,400 ounces of gold grading 5.29 grams per tonne (g/t) in the indicated category, and 1.03 million ounces of gold grading 6.06 g/t in the inferred category.

Department store chain Sears Canada (TSE:SCC) said Wednesday its fourth-quarter sales and profits slipped amid dwindling revenue at established stores.

For the quarter that ended January 28, the company said total sales dipped 6.4 percent to $1.36 billion, down from $1.45 billion last year.

Net income for the 13-week period plunged 53 percent to $38.7 million, or 36 cents a share, compared with a year prior profit of $82.7 million, or 77 cents a share.

Stonecap Securities Wednesday lowered its target price on Orvana Minerals (TSE:ORV) to $2.25 from $2.40 after the gold-copper producer released a new resource/reserve and gave an update on operations at the El Valle-Boinás/Carlés (EVBC) project in Spain.

The Toronto-based capital markets firm kept its rating on Orvana at "outperform".

Allana Potash Corp. (TSE:AAA)(OTCQX:ALLRF) said Wednesday that the Republic of Djibtouti's government in Ethiopia has started the pre-qualification process to select contractors for the construction of the new port at Tadjoura, Djibouti.

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