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Oct. 15, 2012, 11:36 a.m. EDT

Canada hot stocks: Turquoise Hill, Scorpio

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Among the companies whose shares are making notable moves in Monday's session are Turquoise Hill Resources Ltd. TRQ, Superior Plus Corp. SPB.T, Scorpio Mining Corp. SPM.T and Argonaut Gold Inc. AR.T.

Turquoise Hill (C$8.14, down 4.9%) said it and Rio Tinto PLC (RIO) have rejected a request from the Mongolian government to renegotiate the investment agreement for the massive Oyu Tolgoi copper and gold project. Specific terms of the government's request weren't disclosed. Rio owns a 51% stake in Turquoise Hill, which in turn holds a 66% stake in the project.

BMO upgraded Superior Plus (C$9.38, up 5.2%) to outperform from market perform, saying it has more confidence in the company's ability to generate results from its earnings-improvement initiatives over the next couple of years.

Scorpio Mining (C$0.99, down 12%) said third-quarter copper production dropped 48% from a year earlier and silver production fell 8%. It said therecovery of copper and silver was substantially reduced in the quarter due to a low copper head grade.

Argonaut Gold (C$9.79, down 6.6%) said it has agreed to buy Prodigy Gold Inc. (PDG.V, C$0.99, up 43%) in a friendly deal worth about C$341 million in cash and stock.

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Among the companies whose shares are making notable moves in Monday's session are Rainy River Resources Ltd. and NGEx Resources Inc. .

Rainy River (C$5.70, up 3.6%) said it has now filed a technical report to support the August preliminary economic assessment for the Rainy River gold property in Ontario. It said the latest resource update will be reflected in the feasibility study, to be issued in the first half of 2013.

NGEx Resources (C$2.79, up 10%) released the initial minerals resoruce estimate and positive results from initial metallugical testwork on its Los Helado copper-gold deposit in Chile. It said the results "confirm the tremendous potential" of the deposit.

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