Around the North

The Ontario Federation of Snowmobile Clubs (OFSC) is spending $2.4 million to buy new or make upgrades to trail grooming equipment. The money, derived from permit sales, is earmarked for 22 capital equipment projects. The money is on top of $4.

Stornoway Diamond Corp. (SWY) traded actively, losing three cents to 54 cents on 2.54 million shares. Stornoway's shares have quadrupled since September. The surge could have an added benefit for shareholders.

Conquest Resources Limited (TSX:CQR) has found gold in all six holes drilled as part of the first phase of the company's 2009 drill program.

Marathon PGM announced it has closed the first tranche of a non-brokered private placement and has raised $1.2 million in gross proceeds.

Although national exports are likely to be somewhat hurt by the United States' slow economic recovery, the Canadian Chamber of Commerce projects the Canadian economy to grow at an average rate of 2.6 per cent in 2010.

Production issues have contributed to lower revenues for Kirkland Lake Gold, leading to a $10.3 million net loss for the second quarter of its fiscal 2010, ending Oct. 31, 2009. This compares to a net income of $1.6 million in the previous quarter.

Laurentian University has appointed long-time faculty member Dr. Patrice Sawyer as the school's vice-president, research and graduate studies.

Employment insurance (EI) beneficiary numbers continued to sink across Canada, according to data recently released by Statistics Canada. The number of EI beneficiaries in Ontario rose slightly in October by 4,200, though this remains down from June.

The province is moving forward on $7.2-million in repairs to the historic Little Current Swing Bridge, which connects the Manitoulin Island to the mainland on Highway 6. The contract was awarded to Bolton, Ontario-based Concreate USL Ltd.

Retail sales across Canada continued their rise in October, edging up 0.8 per cent to reach $35.3 billion, the eighth such increase in 10 months, according to Statistics Canada. Retail sales volume increased 0.