AGORACOM Small Cap TV - January 27th - Highlights
posted on
Jan 27, 2011 08:51AM
Good morning to you all. Please find enclosed a summary of the breaking small-cap and micro-cap financial news we highlighted on AGORACOM Small Cap TV this morning. It’s January 27, 2011, and we’ve found 4 great press releases to report on at the open. Another great day for small-cap and micro-cap financial news. To watch the show live every morning at 9:30 AM, visit our front page.
Q3 2011 PRODUCTION RESULTS FOR THE THREE MONTHS ENDED DECEMBER 31, 2010 AND AN INDEPENDENT TECHNICAL REVIEW OF THE EZULWINI LIFE OF MINE MODEL
First Uranium Corporation (TSX:FIU, JSE:FUM)
announced that during the three months ended December 31, 2010 ("Q3 2011"), 21,040 ounces of gold were sold from production from the Mine Waste Solutions' tailings recovery project ("MWS") in South Africa, and 19,477 ounces of gold were sold from production from the Ezulwini Mine. This represents quarter-on-quarter increases in gold sales of 12% and 29%, respectively.
Q3 2011 PRODUCTION HIGHLIGHTS
MINE WASTE SOLUTIONS
* Higher gold sales reported
* Expected gold output at MWS on track for 72,000 ounces for fiscal year 2011
* MWS continues to deliver on planned production with plant and tailings expansion projects on-track for completion in May 2011 and on schedule for the re-structured Gold Wheaton Completion Test
EZULWINI MINE
* Highest-ever quarterly gold sales
* Expected gold output for fiscal 2011 at Ezulwini Mine downgraded from 80,000 ounces to 70,000 ounces as a result of important maintenance work with respect to Ezulwini Mine's shaft system undertaken during December 2010, with further adjustments to the shaft system planned for completion in April 2011
* Progress in respect of the design, manufacture and installation of the two columns in the Ion Exchange section of the uranium plant at Ezulwini Mineon track for commissioning by the end of March 2011
About the company
First Uranium Corporation (TSX:FIU, JSE:FUM) is focused on the development of its South African uranium and gold mines with the goal of becoming a significant low-cost producer through the re-opening and underground development of the Ezulwini Mine and the expansion of the Mine Waste Solutions tailings recovery operation.
Last: 1.22Range: 2.21-0.71Market Cap: 221 Million
Gammon Gold Reports a New Discovery with Significant Drill Results at the Recently Acquired Los Jarros Project, Located Near the Ocampo Operations
Gammon Gold Inc. (TSX:GAM and NYSE:GRS):
-announce that it has successfully completed the first-stage, 2,000 metre drilling program at the Los Jarros Project in western Chihuahua. The drilling was focused on the Gaby target where significant near surface mineralization was discovered. The Gaby target is approximately 22 kilometres southeast of Ocampo and 29 kilometres northwest of Fresnillo PLC's Orisyvo gold deposit.
Los Jarros, Gaby Target Drilling Highlights
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Four of the five holes drilled discovered significant mineralization. Some highlights of the new program include:
-Hole LJ-10-01, 36.0 metres grading 0.68 grams per tonne gold from
42.0 metres depth
-And 60.0 metres grading 0.57 grams per tonne gold from
94.0 metres depth.
-Hole LJ-10-02, 26.6 metres grading 0.69 grams per tonne gold from
14.0 metres depth.
-Hole LJ-10-03, 49.3 meters grading 0.63 grams per tonne gold from
7.6 metres depth
-Including 10.2 metres grading 1.67 grams per tonne gold from
9.2 metres depth.
-Hole LJ-10-04, 5.1 metres grading 15.70 grams per tonne gold and
42 grams per tonne silver, from 45.2 metres depth.
About Gammon Gold
Gammon Gold Inc. is a mid-tier gold and silver producer with properties in Mexico. Gammon's flagship Ocampo Property is located in Chihuahua State. Gammon also owns the suspended El Cubo mine in Guanajuato State and the Guadalupe y Calvo development property in Chihuahua State. In 2010 Gammon completed option purchase agreements to acquire the Los Jarros and Venus Projects located directly north of the Ocampo mine, the Mezquite Project in Zacatecas State, and has signed a binding Letter of Intent to joint venture into the La Bandera gold project in Durango State.
Last: 7.60Range: 10.91-5.42Market Cap: 1 Billion
Razor Resources Inc. Announces Second Shipment of Gold From Clavo Rico Mine Acquisition-Refined Gold Shipment From Clavo Rico Mine Property Valued at Over $300,000
Razor Resources Inc. (OTCBB:RZOR)
announced its second shipment of gold estimated to be over $300,000 in market value since the recent acquisition of the Clavo Rico Mine property in Honduras. Final refining after production resulted in approximately 227 ounces of finished gold and 64 ounces of finished silver.
"This second shipment of gold production and recurring revenue stream is a major milestone for our Company. Through the extraordinary efforts of our exploration and mining team, we have been able to enhance production in less than one year since the acquisition of the Clavo Rico mining property. Having a steady cash flow from production will help protect us from some uncertainties in the current world financial markets and gives us a distinct advantage for growth and shareholder value over non-producing junior mining companies," stated Gregory Rotelli, Chief Financial Officer.
About Razor Resources Inc.
Razor Resources Inc. (OTCBB:RZOR) www.razorresourcesinc.com is a Los Angeles, California based gold exploration and production company engaged in gold mining and its associated activities including but not limited to exploration, extraction, processing, and reclamation. The Company specializes in sustainable, low-cost gold production and currently owns and operates the Clavo Rico mine in the Choluteca region of Honduras.
Last: 0.32Range: 1.01-0.02Market Cap: 32 Million
SHANGHAI, China, Jan. 27, 2011 /PRNewswire-Asia-FirstCall/ -- Acorn International, Inc. (NYSE:ATV - News) ("Acorn" or the "Company"), a leading integrated multi-platform marketing company in China engaged in developing, promoting and selling consumer products and services through its extensive distribution network, today announced that following new management's evaluation of its business and as part of the strategy to improve media efficiency, Acorn has undertaken various restructuring activities resulting in one-time charges in the fourth quarter of 2010. As a result, Acorn now expects fiscal year 2010 net revenue to be between $290 million and $295 million, in line with its previous estimates and a net loss from continuing operations to be between $3 million and $8 million. The Company expects to announce its fourth quarter and full year 2010 financial results around March 15, 2011.
Restructuring activities taken to improve Acorn's operational efficiency include adopting a more aggressive policy for estimating inventory provision and the restructuring of Yiyang Yukang's distribution business (Yiyang Yukang is Acorn's wholly owned mobile handset manufacturer and distributor). Updated guidance also reflects severance charges related to senior personnel departures, including the recent departure of James Hu, former CEO.
About Acorn International, Inc.
Acorn is a leading integrated multi-platform marketing company in China, operating one of China's largest TV direct sales businesses in terms of revenues and TV air time and a nationwide off-TV distribution network. Acorn's TV direct sales platform consists of airtime purchased from both national and local channels. In addition to marketing and selling through its TV direct sales programs and its off-TV nationwide distribution network, Acorn also offers consumer products and services through catalogs, third-party bank channels, outbound telemarketing center and an e-commerce website. Leveraging its integrated multiple sales and marketing platforms, Acorn has built a proven track record of developing and selling proprietary-branded consumer products, as well as products and services from established third parties.
Last Trade: 4.77 52 Week: 7.30 - 3.04 Market Cap: 142 Million