AGORACOM Small Cap TV - February 17th - Highlights
posted on
Feb 17, 2011 09:00AM
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 February 17th, 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.
Richmont Mines Announces Resources of Over 1 Million Ounces of Gold at Its Wasamac Property
Richmont Mines Inc. (TSX:RIC)(NYSE Amex:RIC),
is pleased to announce a significant increase in the estimated resource base for the Wasamac property, located 15 km west of Rouyn-Noranda, Quebec, and less than 10 km east of the Company's Francoeur Mine. The property consists of three mining concessions and one claim, and covers an area of 7.58 km2 (757.65 hectares). There are no royalties on this 100%-owned property.
Highlights:
* Measured and Indicated resources of 5,093,180 tonnes grading 2.51 g/t Au for 411,073 ounces of gold;
* Inferred resources of 11,515,020 tonnes grading 2.72 g/t Au for 1,007,875 ounces of gold at December 31, 2010, versus 285,200 ounces of Inferred resources at December 31, 2009;
* Major 35,000 metre drilling program planned for 2011;
* Regulation 43-101 compliant technical report will be available on SEDAR within 45 days.
About Richmont Mines Inc.
Richmont Mines has produced over 1,200,000 ounces of gold from its operations in Quebec, Ontario and Newfoundland since beginning production in 1991. The Company currently produces gold from its Island Gold and Beaufor mines, and expects to begin production from its Francoeur Mine in mid-2011, which will increase Richmont's production to 100,000 ounces of gold on an annual basis. With extensive experience in gold exploration, development and mining, the Company is well positioned to cost-effectively build its North American reserve base through a combination of organic growth, strategic acquisitions and partnerships.
Last Sale: 4.8252 Week Range: 3.89 - 5.71 Market Cap: 150.63M
Indicated Resource of 2.6 Million Ounces of Gold and 860 Million Pounds of Copper for Northgate's Kemess Underground Project
Northgate Minerals Corporation (TSX:NGX)(NYSE Amex:NXG)
has released its updated NI 43-101 compliant resource estimate for the Kemess Underground Project, located five kilometres ("km") north of the Kemess South mine and milling complex in north-central British Columbia.
Highlights
* Indicated Resource of 136.5 million tonnes ("Mt") containing 2.6 million ounces of gold and 860.6 million pounds of copper.
o This represents an 18% increase in tonnes, a 10% increase in contained gold and a 9% increase in contained copper from the May 2010 resource.
* Identified a 10.3 Mt high-grade sector of the overall resource containing 450,000 ounces of gold and 119 million pounds of copper grading 1.35 grams per tonne ("g/t") gold and 0.52% copper, respectively.
* Northgate has engaged an independent mining consulting firm to complete technical studies, which will be incorporated into a NI 43-101 compliant Preliminary Assessment.
About Northgate
Northgate Minerals Corporation is a gold and copper producer with mining operations, development projects and exploration properties in Canada and Australia. The company completed a 30-hole infill diamond drill program at its Kemess Underground Project in November 2010 and has released an updated resource estimate, containing 2.6 million pounds of gold and 860 million pounds of copper. We expect to file a Preliminary Assessment for the Kemess Underground Project in the third quarter of 2011. Our vision is to be the leading intermediate gold producer by identifying, acquiring, developing and operating profitable, long-life mining properties.
Last Sale: 2.8452 Week Range: 2.42 - 3.62 Market Cap: 828.87M
China ACM Announces $6.8 Million in New High Speed Rail Contracts
China Advanced Construction Materials Group, Inc. (NASDAQ:CADC - News) ("China ACM"), a leading provider of ready-mix concrete and related technical services in China, today announced it has been awarded two high-speed rail (HSR) contracts valued at $6.8 million total.
The contract was awarded to the Company's Manufacturing Services business segment and is being fulfilled with premium ready-mix concrete (RMC) from four portable plants. China ACM reported a gross margin of 31 percent for its rapidly growing Manufacturing Services business segment, compared with its blended gross margin of 19 percent, in the second fiscal quarter ended Dec. 31, 2010.
China ACM was awarded the contracts by CCCC Tunnel Engineering Co., Ltd., a subsidiary of Beijing-based China Communications Construction Company Limited (HKEx: 01800), for its premium RMC manufacturing and related engineering services on the Shanghai - Kunming Passenger Line in Jiangxi Province. They will require approximately 830,000 cubic meters of RMC and are valued at $6.8 million.
These contracts are estimated for completion in the second and fourth quarters of Fiscal Year 2012, respectively. This brings to 23 the total number of Company portable concrete plants, with 19 fully contracted and operating country wide today.
About China ACM
China ACM is a leading producer of advanced, certified eco-friendly ready-mix concrete (RMC) and related technical services for large scale, high-speed rail (HSR) and other complex infrastructure projects. Leveraging its proprietary technology and value-add engineering services model, the Company has won work on numerous high profile projects including the 30,000 km China HSR expansion, the Olympic Stadium Bird's Nest, Beijing South Railway Station, Beijing International Airport, National Centre for Performing Arts, CCTV Headquarters, Beijing Yintai Building and U.S. and French embassies.
Last Trade: 4.8052 Week: 5.69 – 2.95Market Cap: 85.15 Million