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B.C.

$250-million class action filed against Baja Mining over “misrepresentations”

VANCOUVER – Baja Mining Corp. (TSX:BAJ) says shareholder Joseph Sue-Tang has filed a class-action lawsuit claiming the company and some of its current and former directors and employees made misrepresentations from November 2010 to April 2012. The suit, which has not yet been certified, seeks $250 million in damages and $10 million in punitive damages, interest and costs.

Canadian Zinc to acquire N.L. mineral property through Paragon Minerals deal

VANCOUVER – Canadian Zinc Corp. (TSX:CZN) is preparing to acquire the South Tally Pond property in central Newfoundland through a business combination with Paragon Minerals Corp. Canadian Zinc says it will exchange 0.136 of a CZN share for each share of Paragon. Based on Monday’s closing market price, the offer is worth 5.2 cents per share, valuing Paragon’s equity at $2.8 million.

New Gold Q2 profit falls 70%, hit by $32M charge on redemption of notes

VANCOUVER – New Gold Inc. (TSX:NGD) says its second-quarter earnings fell 70 per cent to $23.7 million, or five cents per share, down from $78.6 million or 19 cents per share during the 2011 period, hit by pre-tax $32 million loss on redemption of secured notes. Revenue grew to $176.1 million from $171.6 million in the year earlier.

First Quantum second-quarter earnings fall to $142 million but revenues rise

VANCOUVER – First Quantum Minerals Ltd. (TSX:FM), which reports in U.S. dollars, says its second-quarter net earnings attributable to shareholders fell to $142 million, or 30 cents per diluted share, from $155.3 million, or 33 cents per diluted share, during the quarter a year ago. Revenues rose to $722.3 million from $660 million.