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B.C.

Great Basin Gold stock plunges after company reveals ‘liquidity challenge’

VANCOUVER – Great Basin Gold Ltd. (TSX:GBG) stock dropped nearly 50 per cent in unusally heavy trading Wednesday after the Vancouver-based company disclosed it is faced with a “liquidity challenge” due to operational problems and a revenue shortfall. Its board has struck a committee to look at strategic alternatives. The company’s CEO has also resigned. Great Basin’s stock was down 19.5 cents at 23.5 cents with more than seven million shares traded at mid-morning.

Chinese steelmaker adjusts investment in Canadian company, iron project

VANCOUVER – Alderon Iron Ore Corp. (TSX:ADV) says a Chinese company has reduced its investment commitment to Alderon, which is developing one of several planned iron ore mining operations on the Quebec-Labrador border. Hebei Iron & Steel Group Co., Ltd. now plans spend a total of $182.2 million, down $11.8 million from the agreement they reached in April. The reduction reflects the reduced value of Alderon shares, which have fallen in recent months.

China Gold International posts lower Q2 profit as revenue slides to US$76.5M

VANCOUVER – China Gold International Resources Corp. Ltd. (TSX:CGG) reports second-quarter comprehensive income attributable to shareholders of US$10.9 million or three cents per share, compared with US$27.4 million or 6.8 cents per share in the same period in 2011. Revenue in the three months ended June 30 was US$76.5 million, down from US$92.9 million.

Ballard Power Systems receives order for 102 fuel cell power systems

VANCOUVER – Ballard Power Systems (TSX:BLD) said Thursday it has received orders for 102 fuel cell power generation systems to be delivered to Cascadiant Inc., its new Southeast Asian distributor. Financial terms of the sale were not immediately available.