AGORACOM Small Cap TV - April 6th - Highlights
posted on
Apr 06, 2011 01:06PM
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 6, 2011, and we’ve found 7 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.
Greystar Intercepts 1,805 g/t Silver, 5.09 g/t Gold and 0.83% Copper Over 2 Metres at La Plata
Greystar Resources Ltd. (TSX:GSL)(AIM:GSL)
reports that significant silver-gold-copper mineralization has been encountered from its initial diamond drill program on the La Plata property. La Plata is located southwest and along strike of the multi-million ounce La Mascota gold-silver-copper discovery in northeastern Colombia. Highlights include:
* Hole PL10-01, which intercepted 12.85 metres (16.15-29.0m) grading 85.13 grams silver, 1.24 grams gold and 0.19% copper followed by 8 metres (29.0-37.0m) grading 32.59 grams silver, 5.20 grams gold and 0.64% copper;
* Hole PL10-04, which intercepted 18.15 metres (11.85-30.0m) grading 32.24 grams silver and 4.64 grams gold;
* Hole PL10-12, which intercepted 2.0 metres (322.0-324.0m) grading 1,805 grams silver, 5.09 grams gold and 0.83% copper and;
·Hole PL11-01, which intercepted 8.2 metres (198.8-207.0m) grading 24.22 grams silver, 1.73 grams gold and 0.41% copper.
About Greystar Resources Ltd.
Greystar Resources is a precious metals exploration and development company that owns the multi-million ounce Angostura gold-silver project in north-eastern Colombia. Following permitting difficulties associated with its original open pit/heap leach proposition, the company is currently working on completing its NI-43-101 resource calculation in advance of a pre-feasibility study to examine the viability of an underground operation.
Last Sale: 2.91 52 Week Range: 2.26 - 6.75 Market Cap: 245.09M
Bellhaven Drills Consecutive 200-Plus-Meter Intercept La Cantera, La Mina, Colombia
Bellhaven Copper & Gold Inc. (TSX VENTURE:BHV)
("Bellhaven" or the "Company")
is pleased to announce that DDH-19, the most recent drill hole targeting the La Cantera prospect, delivered a second consecutive intercept in excess of 200 m: 230 m containing 0.99 g/t Au and 0.30% Cu (1.50 g/t AuEq).
This long intercept starts at surface and consists of two subzones: (1) 124 m @ 1.23 g/t Au and 0.29% Cu starting at surface and (2) 89 m @ 0.83 g/t Au and 0.36% Cu starting at 141 m.
These intercepts continue to demonstrate the relatively high-grade nature of La Cantera compared to other porphyry gold-(copper) deposits found in the Middle Cauca belt of Colombia and elsewhere in the Americas.
About Bellhaven
Bellhaven Copper & Gold Inc. is a Canadian-listed (TSX VENTURE:BHV) exploration company exploring for gold and copper in Panama and Colombia. The Company's objective is to become one of the best gold-copper companies operating in Panama and Colombia by discovering, acquiring, and developing high-quality resources in a safe and responsible manner to the benefit of all of its stakeholders.
Last Sale: 0.68 52 Week Range: 0.18 - 0.97 Market Cap: 56.45M
Forbes & Manhattan Coal Announces Significant Offtake Agreement
Steady Cash Flow Will Fund Production Ramp Up
Forbes & Manhattan (Coal) Corp. (TSX:FMC)
has signed a three year offtake agreement for 1.75 million tonnes (total) with Vitol S.A. ("Vitol"), a leading energy trading company. Vitol will be purchasing thermal coal from the Slater Coal properties at market prices.
Cash flow from this offtake agreement will fund the continued ramping up of production at its two operating mines – Magdalena and Aviemore. The agreement is initially for three years and will support the previously announced production expansion plans
Forbes Coal intends to transport the coal to the Navitrade Coal Terminal in Richards Bay using its increased rail transport and capacity with Transnet Freight Rail and Grindrod Terminals. Grindrod Terminals provides certain logistical, handling and stockpiling services to shippers in connection with the shipment of bulk cargoes. As per the press release of December 7, 2010, Grindrod Terminals shall provide Forbes Coal with export coal capacity in the Terminal of 600,000 metric tonnes in 2011, 720,000 metric tonnes in 2012 and 960,000 metric tonnes in 2013.
"This milestone for Forbes Coal will support our planned expansion into the coal export market. We have seen a steady increase in export prices over the past 12 months, driven by an increase in demand from India. Together with our increased export capacity at Richard's Bay, the Company is on track to establish itself as a mid-tier Southern African coal company." said Stephan Theron, President and Chief Executive Officer of Forbes Coal.
About Forbes & Manhattan Coal Corp.
Forbes Coal is an emerging mid-tier southern African coal company. It holds a majority interest in two operating mines. The Company holds a 76.75% interest in Slater Coal (Pty) Ltd., a South African company ("Slater Coal") which has a 70% interest in Zinoju Coal (Pty) Ltd. ("Zinoju"). Zinoju holds a 100% interest in certain coal mines in South Africa (the "Slater Coal Properties"). The Slater Coal Properties comprise the operating Magdalena bituminous mine (the "Magdalena Property") and the Aviemore anthracite mine. The mines have a substantial combined resource of coal and each mine has a projected 18 year life span.
Last Sale: 3.4952 Week Range: 2.65 - 5.10 Market Cap: 121.42M
Allied Gold Limited: Simberi Gold Production Resume
Allied Gold Limited (TSX:ALG)(AIM:AGLD)(ASX:ALD)
has resumed gold production at its 100%-owned Simberi gold mine in Papua New Guinea.
In the interests of major stakeholders and with the full support of Landowners and its national employees Allied Gold today successfully petitioned the PNG National Court of Justice to return to work.
Simberi is expected to quickly return to steady state production - with 6000 ounces expected in the month of April. During March the Company took the opportunity to advance a number of planned plant maintenance activities and mining operations were continued.
The run of mine (ROM) stock pile has been built to 90,000 tonnes with 75,000 tonnes at Pigiput and 15,000 tonnes at the Sorowar pit. Additionally a significant amount of waste has been pre-striped in all pits.
Last Sale: 0.62 52 Week Range: 0.28 - 0.80 Market Cap: 1.04B
ABOUT ALLIED GOLD
Allied Gold is a 200,000 ounce per annum Pacific Rim gold producer with production and exploration assets in Papua New Guinea and the Solomon Islands approximately 3 hours by plane from Brisbane, Australia.
Timberline Drills 10.2 Metres of 56.5 g/t Gold (33.6 Feet of 1.65 Opt) Including 1.5 Metres of 357.9 g/t Gold (5 Feet of 10.45 Opt) at Butte Highlands
Timberline Resources Corporation (TSX VENTURE:TBR)(NYSE Amex:TLR) ("Timberline" or the "Company")
today announced results from underground drilling at the Butte Highlands Gold Project in southwestern Montana, including Hole BHUG-006 which returned 33.6 feet (10.2 metres) grading 1.65 ounces per ton (opt) (56.5 grams per tonne (g/t)) gold, including a 5-foot (1.5 metre) interval grading 10.45 opt (357.9 g/t) gold.
About Timberline Resources
Timberline Resources Corporation is exploring and developing advanced-stage gold properties in the western United States. The Company is primarily focused on the goldfields of Nevada, where it is advancing its flagship Lookout Mountain Project toward a production decision while exploring a pipeline of quality earlier-stage projects at its South Eureka Property and elsewhere. Timberline also features a 50-percent carried-to-production interest at its Butte Highlands Joint Venture where gold production is slated to commence early in 2012.
Last Sale: 0.96 52 Week Range: 0.66 - 1.45 Market Cap: 53.57M
Advanced Explorations' Updated Resource Report Moves 60% of Resource from Inferred Into Indicated Category
Advanced Explorations Inc. (TSX VENTURE:AXI)(FRANKFURT:AE6)
is pleased to announce an updated National Instrument (NI) 43-101 compliant mineral resource estimate for the C-Zone of its flagship Roche Bay iron project located on the east coast of the Melville Peninsula in Nunavut, Canada, as follows:
* The resource estimate now includes 323 million tonnes in the Indicated category averaging 26.7% total iron (25.8% magnetic iron) at a 20% iron cut-off grade.
* A further 226 million tonnes averaging 25.8% total iron (23.8% magnetic iron) at a 20% iron cut-off grade remains in the Inferred category.
* In comparison to the previous resource estimate (as press released March 12, 2009) approximately 60% of the original Inferred resource volume has been re-classified as Indicated.
ABOUT Advanced Explorations Inc.
Advanced Explorations Inc., based in Toronto, Ontario, is a resource development company focused on its Roche Bay Iron Ore Project in Nunavut, one of the world's largest developing iron ore districts. The Roche Bay Project is located proximal to a natural deep water harbour on the east coast of the Melville Peninsula in Nunavut, Canada giving it many logistical advantages. The project has an indicated resource of 323 million tonnes, outlined within a small portion of the potential 140 km of banded iron formation.
Last Sale: 0.73 52 Week Range: 0.14 - 1.03 Market Cap: 67.32M
PREMIER GOLD REPORTS UPDATED NI 43-101 RESOURCE FOR HARDROCK PROJECT
Premier Gold Mines Limited (TSX-PG)
is very pleased to announce that an updated National Instrument (NI) 43-101 compliant mineral resource estimate has been completed by Micon International Limited for its 70%-owned Hardrock Project, located near Geraldton in Northwestern Ontario.
Highlights of Micon's new mineral resource estimate include:
* A 269% increase in Measured and Indicated resources to 2.5 million ounces.
* A 164% increase in Inferred resources to 1.1 million ounces.
* A 30% increase in the "potential open pit" Measured and Indicated resource grade to 2.37 grams per tonne gold (g/t Au).
* A 37% increase in the "potential open pit" Inferred resource grade to 2.48 g/t Au.
* Some 40% of the Measured and Indicated resource ounces are categorized as "Measured."
* A "Whittle-Pit" analysis suggesting a strip ratio on potential open pit mineral resources of 2.1 to 1.
·The Kailey ("potential open pit") Deposit resource is included and contains 127,000 ounces of Measured and Indicated Resources at 1.57 g/t Au and 10,000 ounces of Inferred resources at 1.48 g/t Au.
Premier Gold Mines Limited is a well financed Canadian-based mineral exploration and development company with several projects and deposits in Northwestern Ontario and a joint venture in Mexico. In the Red Lake gold mining camp, two are operated in joint venture with Red Lake Gold Mines. The company also owns strategic projects located in the heart of the Carlin Trend, Nevada, on the main Musselwhite Gold Mine trend, and holds a 70% interest in the Hardrock Project.
Last; 7.92Range: 7.92-3.85Market Cap: 825M