AGORACOM Small Cap TV - April 5th - Highlights
posted on
Apr 05, 2011 09:29AM
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 April 5, 2011, and we’ve found 6 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.
Alderon Announces Initial Iron Ore Resource at Kami
Alderon Resource Corp. (TSX VENTURE:ADV)(OTCQX:ALDFF)is pleased to announce the results of the initial independent National Instrument (NI) 43-101 Mineral Resource estimate on the 100% owned Kamistiatusset ("Kami") Iron Ore Project in western Labrador.
The Watts, Griffis and McOuat Limited ("WGM") estimate includes an indicated iron ore resource of 490 million tonnes at 30.0% iron and an additional inferred resource of 118 million tonnes at 30.3% iron (refer to tables below for tonnage and grade details) based on a cut-off grade of 20% iron.
"We are extremely excited about this initial resource since we have exceeded our own publically stated objectives for the first resource and clearly demonstrated the viability of the project," says Mark Morabito, President and CEO of Alderon. "As I stated on February 3, our goal for this resource was 400 to 500 million tonnes. We were targeting 600 to 800 million tonnes following the completion of the current winter program, which will now have to be revised and increased, once our current drilling is complete."
About Alderon
Alderon is a leading iron ore exploration and development company in Canada. The Kami Project is located within an existing iron ore district and is surrounded by producing iron ore mines. The Alderon team is comprised of skilled professionals with significant iron ore expertise to advance Kami towards production.
Last Sale: 3.83 52 Week Range: 0.85 - 4.20 Market Cap: 280.75M
Avion Djambaye II Zone Infill Drilling Returns an Average Grade 47% Higher Than Indicated in Resource Model
54.41 g/t Au over 6.0 metres
51.17 g/t Au over 7.0 metres
Avion Gold Corporation (TSX:AVR)(OTCQX:AVGCF)
is pleased to announce the results from 34 drill holes totaling approximately 2,500 metres completed over a 600 metre portion of the Djambaye II zone in Q1, 2011. Drilling was focused at the northern end of the Djambaye II zone where previous drilling returned higher grades from two closely spaced mineralized zones.
Avion's goal is to upgrade the Inferred open pit mineral resources to Measured and Indicated mineral resources. Current open pit Inferred resources total 1.86 million tonnes grading 3.22 g/t Au totaling 192,200 ounces of gold and underground Inferred mineral resources total 1.19 million tonnes grading 3.29 g/t Au totaling 126,000 ounces of gold (see Avion news release, December 30, 2010).
Significant results include the following:
* 2.82 g/t Au over 19.0 metres
* 18.73 g/t Au over 5.0 metres
* 18.35 g/t Au over 4.0 metres
* 33.67 g/t Au over 5.0 metres
* 10.40 g/t Au over 5.0 metres
* 17.62 g/t Au over 3.0 metres
* 51.17 g/t Au over 7.0 metres
* 16.06 g/t Au over 9.0 metres
* 54.41 g/t Au over 6.0 metres
* 7.67 g/t Au over 7.0 metres
* 16.79 g/t Au over 3.0 metres
About the company
Avion is a Canadian-based gold mining company focused in West Africa. The Company holds 80% of the Tabakoto and Segala gold projects in Mali. Additionally, a new, 1,670 km2 exploration property in Burkina Faso is expected to return good results from an ongoing drill program. The longer term goal of the Company is to ramp production to a 200,000 ounce run-rate in 2012. Avion has a highly skilled management team, with a focus on growth and consolidation within West Africa.
Last Sale: 1.66 52 Week Range: 1.26 - 2.08 Market Cap: 644.89M
Apogee Intersects 2.0 Meters Grading 3,163.00 g/t Silver and 4.40 Meters Grading 584.47 g/t Silver at the Pulacayo Deposit
Apogee Silver Ltd. (TSX VENTURE:APE)
reports assay results from eight additional diamond drill holes from the ongoing drill campaign at the Pulacayo deposit located in southwest Bolivia . All of the reported holes were drilled from surface.
The highlights from these holes include:
*DDH PUD 170 intersected 2.0 meters grading 3,163.00 g/t silver, 0.07% lead, 0.93% zinc, and a second zone adjacent to the "Veta Tajo" zone which intersected 4.0 meters grading 212.0 g/t silver, 2.11% lead, and 2.19% zinc.
*DDH PUD 173 intersected 4.40 meters grading 584.47 g/t silver, 0.88% lead and 3.88% zinc in a zone adjacent to the "Veta Tajo"
*PUD 176 intersected 5.10 meters grading 109.47 g/t silver, 0.02% lead and 0.34% zinc in the "Veta Tajo" zone and a second adjacent zone which intersected 7.0 meters grading 226.29 g/t silver, 0.39% lead and 0.83% lead.
About Apogee Silver Ltd
Apogee Silver Ltd. is a mineral exploration and development stage company listed on the TSX Venture Exchange under the symbol APE. Apogee targets advanced silver-zinc-lead projects in South America that demonstrate potential to be developed to production. Currently its projects are located in the historic silver producing regions of southwest Bolivia and northern Chile.
Last Sale: 0.29 52 Week Range: 0.05 - 0.46 Market Cap: 40.37M
Confederation Minerals Ltd. Intersects Additional High-Grade Gold at Newman Todd
Confederation Minerals Ltd. (TSX VENTURE:CFM) and joint venture partner Redstar Gold Corp. (TSX VENTURE:RGC)
are pleased to report additional drill results from their on-going diamond drill program at the Newman Todd property in the Red Lake Gold District, in northern Ontario. Confederation Minerals Ltd., who is funding the exploration, can earn a 70 percent interest in the project by funding $5.0 Million in exploration within three years, and producing a Preliminary Economic Assessment (PEA) within six years.
- 2.0 Meters Grading 25.55 g/t Gold Including 0.50 m Grading 75.8 g/t Gold
- Wide Step-Out Drilling (Over 1 Km North) Identifies New Gold Zone With Up to 11 g/t Over 1.0 m
About Confederation Minerals Ltd.
Confederation Minerals Ltd. is a British Columbia based company engaged in the business of acquisition, exploration and development of mineral properties. Its objective is to locate and develop economic precious and base metals properties of merit. Confederation Minerals Ltd. holds an option agreement to acquire up to 70% of the Newman Todd project in the Red Lake Mining District of Northern Ontario as well as 100% ownership in two other properties in the Red Lake Mining District of Ontario.
Last Sale: 1.17 52 Week Range: 0.07 - 1.17 Market Cap: 18.24M
Lydian Reports Resource Update of 2.5 Million Ounces Gold at Its Amulsar Project; Armenia
CIM Compliant Resource Estimate of 1.1 Million Ounces in Indicated and 1.4 Million Ounces in Inferred Categories
Lydian International Ltd. (TSX:LYD)
a gold-focused mineral exploration and development company, today announced an updated resource estimate for its Amulsar gold project in Armenia. Amulsar is a high-sulfidation style gold project discovered by Lydian geologists in 2006.
The updated resource comprises 32.4 Mt at 1.1 g/t Au (1.1 million ounces) of Indicated Category resources and 48.3 Mt at 0.9 g/t Au (1.4 million ounces) of Inferred Category resources (see Table 1). Galen White, Principal Geologist of CSA Global prepared the mineral resource estimate in accordance with CIM guidelines.
About Lydian International
Lydian is a gold-focused mineral exploration and development company with expertise employing "first mover" strategies in emerging exploration environments. Currently Lydian is focused on Eastern Europe and on developing its flagship Amulsar gold project in Armenia. The Amulsar group of licenses is wholly owned by Lydian's Armenian subsidiary (Geoteam CJSC). Lydian also has a pipeline of promising early-stage gold and base metal exploration projects in the Caucasus regions.
Last: 2.08Range: 2.75-0.76Market Cap: 196 million
Fushi Copperweld Announces 2010 Fourth Quarter and Full Year Results
Fushi Copperweld, Inc. (NasdaqGS:FSIN - News), the leading global manufacturer and innovator of copper-clad bimetallic wire used in a variety of telecommunication, utility, transportation and other electrical applications, today announced final financial results for the fourth quarter and full year periods ended December 31, 2010 in line with previously announced preliminary results.
Fourth Quarter 2010 Results
Revenues for the fourth quarter of 2010 increased 35.2% to $69.9 million, up from $51.7 million in the prior year quarter. Organic growth during the fourth quarter, excluding the contributions of the acquisitions of Dalian Jinchuan, was 21.8%.
Gross profit in the fourth quarter of 2010 increased 28.8% to $22.2 million from $17.2 million a year ago. Gross margin decreased to 31.8% from 33.4% in the year ago period
On GAAP basis, net loss for the 2010 fourth quarter was $2.4 million, or $0.06 per diluted share. This compares with GAAP net income of $10.2 million, or $0.34 per diluted share, in the fourth quarter of 2009.
On non-GAAP basis, adjusted net income was $13.4 million or $0.35 per diluted share in the fourth quarter of 2010, compared to adjusted net income of $10.3 million or $0.34 per diluted share, in the prior year fourth quarter.
Fiscal Year 2010 Results
Revenues for fiscal year 2010 increased 44.8% to $265.0 million, up from $182.9 million in the year ago period.
Gross profit for fiscal year 2010 increased 44.7% to $79.3 million or 30.0% of revenue from $54.8 million or 30.0% of revenue in fiscal year 2009.
On GAAP basis, net income for the 2010 fiscal year was $31.9 million, or $0.85 per diluted share. This compares with net income of $21.9 million, or $0.76 per diluted share, in the 2009 fiscal year.
On non-GAAP basis, adjusted net income was $48.6 million or $1.30 per diluted share in 2010 fiscal year, compared to adjusted net income of $28.9 million or $1.01 per diluted share, in the 2009 fiscal year.
About Fushi Copperweld
Fushi Copperweld Inc., through its wholly owned subsidiaries, Fushi International (Dalian) Bimetallic Cable Co. Ltd., and Copperweld Bimetallics LLC, is the leading manufacturer and innovator of copper-clad bimetallic engineered conductor products for electrical, telecommunications, transportation, utilities and industrial applications.
Last Trade: 7.6152 Week: 12.94 – 6.70Market Cap : 287.64 Million
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