AGORACOM Small Cap TV - April 14th - Highlights
posted on
Apr 14, 2011 09:36AM
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 14, 2011, and we’ve found 5 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.
Dynacor: Custom Milling Operation Produces 9,926 Ounces of Gold in the First Quarter 2011
Dynacor Gold Mines Inc. (TSX:DNG)
is pleased to provide an operations update for the first quarter of 2011. During Q1-2011, the Company's custom milling operation produced 9,926 ounces of gold, an increase of 92% over the same period last year (5,179 ounces).
The Company is pleased with this result as the production rate is in line with management's target for the first quarter 2011. Production in the first quarter of the year decreases due to the rainy season compared to the rest of the year. The Company was able to achieve this production level due to the strong cash flow position that allowed the stockpiling of ore in the fourth quarter of 2010. With the dryer season upon us, Dynacor expects from Q2, 2011 onwards to steadily increase its gold production and achieve its objective for the year which is 45,000 ounces.
Mr. Jean Martineau, President and CEO of Dynacor, stated: "We are very optimistic for 2011 based on Dynacor's robust business model of generating cash flow from its growing custom milling business. The Company is on course to reporting one of its best Q1 results in terms of gold sales, cash flow and profitability. The Tumipampa 16,700 meter drilling campaign is in full motion and drill results will be released on an on-going basis throughout 2011."
ABOUT DYNACOR GOLD MINES INC.
Dynacor is a gold exploration and mining company active in Peru through its subsidiaries since 1996. The Company's assets include the Acari, Casaden and Tumipampa exploration properties. Dynacor's gold mill produces gold by custom milling. Dynacor's strength and competitive advantage comes with the experience and knowledge the Company has developed while working in Peru. Its pride remains in maintaining respect and positive work ethics toward its employees, partners and local communities.
Last Sale: 1.65 52 Week Range: 0.15 - 2.13 Market Cap: 57.48M
Champion Minerals Drills 235 Metres of Specular Hematite Mineralization Grading 33.8% Iron at the Fire Lake North Project
CHAMPION MINERALS INC. (TSX:CHM) (FRANKFURT:P02)
is pleased to announce assay results from diamond-drill holes completed at its Fire Lake North Project since last reporting results on March 7, 2011.
The Company is currently completing over 18,000 metres of infill and extensional drilling at the Fire Lake North Project, following positive results published in the November 3, 2010 Mineral Resource Estimate and Preliminary Economic Assessment (PEA) Reports. Fire Lake North is one of the Company's 17 properties comprising the Fermont Property Holdings in northeastern Quebec.
At the proposed East Limb open pit area, hole FLN11-49 on section 2200N intersected 234.6 metres (m) of specular-hematite iron formation, grading 33.8% Total Iron ("FeT"), beginning at a vertical depth of 230 m and extending to 425 m below surface.
About Champion Minerals Inc.
Champion Minerals is an exploration and development company focused on discovering and developing significant iron ore resources in eastern Canada, particularly in the provinces of Quebec and Newfoundland & Labrador. The Company's projects include the Fermont Holdings in Quebec, jointly held by Champion, with an 82.5% interest and Fancamp Exploration Ltd., holding a 17.5% interest, the Attikamagen Iron Property in Quebec and Labrador, and the Powderhorn / Gullbridge base-metal Projects in central Newfoundland.
Last Sale: 2.1752 Week Range: 0.87 - 3.30 Market Cap: 179.26M
Sandspring Infill Drill Results From the Toroparu Gold-Copper Deposit Includes 138m of 2.09 g/t Gold and 0.19% Copper in Hole 143
SANDSPRING RESOURCES LTD. (TSX VENTURE:SSP)
is pleased to announce an update of new gold and copper assay results from its ongoing infill drilling program in the area of the Toroparu gold-copper deposit in the Republic of Guyana, South America.
The current drill program is designed to better define the geological controls, optimize grade and improve classification of the Inferred Resource contained in the Potentially Mineable Portion of the Toroparu Resource as disclosed in the Company's March 22, 2011 Press Release of a Preliminary Economic Assessment. Annual production over the first four years of operation is expected to average 310,000 ounces gold and 29 million pounds of copper and an average cash cost of $317/oz. gold, net of copper byproduct.1
Hole ID |
from |
to |
length |
Au g/t |
Cu % |
TPD-143 |
336.00 |
474.00 |
138.00 |
2.09 |
0.19 |
About the company
Sandspring Resources Ltd. (SSP: TSX-V) is an exciting new public company representing 10 years of private operational experience in the Republic of Guyana. The former private company predecessor is now a wholly owned subsidiary of Sandspring. The production history of the Company is surface alluvial and saprolite mining in Guyana.
Last Sale: 2.8852 Week Range: 1.09 - 3.75 Market Cap: 227.79M
Great Panther Silver Reports First Quarter Production; Silver Increases by 15%, Gold Up by 45% From Q1 2010
GREAT PANTHER SILVER LIMITED (TSX:GPR)(NYSE Amex:GPL)
is pleased to report first quarter ("Q1"), production at its two wholly-owned Mexican silver mining operations, Guanajuato and Topia.
The mines produced 410,640 ounces of silver, 2,310 ounces of gold, 241 tonnes of lead, and 345 tonnes of zinc. Compared to production results from Q1 2010, silver is up by 15%, gold is up by 45%, lead is down by 17% and zinc is unchanged. The combined metal production, at 607,225 silver equivalent ounces, ("Ag eq oz") is 7% higher than the last quarter and up 15% from Q1 2010. This is a very positive start to the year. Guanajuato metal production, at 406,419 Ag eq oz, is improved by 10% from the last quarter and is up 29% from a year ago while Topia silver production, at 137,219 Ag oz, is a quarterly record.
The following summarizes the main highlights for the first quarter of 2011:
·Silver production of 410,640 Ag oz, up 15% from Q1 2010.
·Gold production of 2,310 Au oz, up 45% from Q1 2010.
·Combined metal production of 607,225 Ag eq oz, up by 15% from Q1 2010.
·Record metallurgical gold recovery at Guanajuato of 91.5%, up 6% from Q1 2010.
·Record silver production at Topia of 137,219 oz Ag, up 4% from Q1 2010.
·Milling capacity records set at both processing plants.
·Exploration drill results expand mineralisation at the San Ignacio property.
·Exploration drilling confirms orebody extending to depth at Guanajuatito.
·Increased NI 43-101 compliant Mineral Resources at the Topia Mine.
About the company
Great Panther Silver Limited, headquartered in Vancouver, Canada, is one of the fastest growing primary silver producers in Mexico with strong leverage to future rises in the price of silver. The Company owns two operating mines in Mexico, and employs over 800 people.
Last Sale: 3.7952 Week Range: 0.67 - 4.90 Market Cap: 462.88M
BANRO CONFIRMS MINE CONSTRUCTION PROGRESS AT WHOLLY-OWNED TWANGIZA PHASE I GOLD PROJECT ON SCHEDULE AND FULLY FUNDED WITH COMMERCIAL PRODUCTION TO BEGIN IN Q4 2011
Banro Corporation(NYSE AMEX - "BAA" TSX - "BAA")
is pleased to report that construction of its wholly-owned Twangiza Phase 1 gold project in South Kivu Province, Democratic Republic of the Congo (the "DRC"), is proceeding on schedule with commercial production expected to begin in the fourth quarter of 2011.
The Company's cash position of approximately US$94 million as at April 1, 2011 is approximately US$25 million more than the budgeted costs to complete the Twangiza Phase 1 oxide-processing plant, which costs include a US$13.5 million contingency within the total US$209 million capital expenditures budget. The balance of the funds will be used to cover overhead costs and working capital to fund the commissioning and production ramp- up, as well as the exploration program on the Company's four gold projects.
"The progress made by the team at Twangiza is excellent. The plant and civil works are 86% complete, with the total mine constructionproject, including tailings facilities, now 60% complete, and on schedule to deliver commercial gold production in the fourth quarter of 2011," commented Simon Village, Chairman and CEO.
About the company
Banro is a Canadian-based gold exploration and development company focused on the development of four major, wholly-owned gold projects, each with mining licenses, along the 210 kilometre-long Twangiza-Namoya gold belt in the South Kivu and Maniema provinces of the DRC. Led by a proven management team with extensive gold and African experience, Banro is constructing "Phase 1" of its flagship Twangiza project.
Last: 2.35Range: 1.60 - 4.41Market Cap: 448 Million
SOKO Fitness & Spa Group Reports Third Quarter Fiscal 2011 Financial Results
SOKO Fitness & Spa Group, Inc. (OTC BB: SOKF) ("SOKO"), an operator of fitness centers and beauty salons and spas in China, today announced its financial results for the third quarter and first nine months of fiscal 2011, ended February 28, 2011.
Third Quarter Financial Highlights:
Revenue totalled $10.3 million, an increase of 27% over $8.1 in the third quarter of fiscal 2010.
Gross profit increased 21% to $7.0 million, compared with $5.8 million, in the same period a year ago. Gross margin was 68.2% for the third quarter of fiscal 2011, compared with 71.6 % for the third quarter of fiscal 2010, and 67.6% for the second quarter of fiscal 2011.
Net income attributable to SOKO improved 11% year-over-year to $3.0 million, or $0.14 per diluted share based on diluted shares outstanding of 22.0 million shares, compared with $2.7 million, or $0.15 per diluted share based on diluted shares outstanding of 18.2 million shares in the same period a year ago.
SOKO increased total fitness club members 27% year-over-year and 0.3% sequentially to approximately 23,000 and beauty salon and spa clients 28% year-over-year and 7% sequentially to approximately 27,100.
Cash and cash equivalents was $15.7 million as of February 28, 2011, an increase of $0.7 million over November 30, 2010. The sequential increase in cash and cash equivalents was related to increased operating cash flow.
About SOKO Fitness & Spa Group, Inc.
SOKO Fitness & Spa Group, Inc., an OTCBB listed company (SOKF), is an operator of fitness centers and beauty salons and spas in key cities in China. SOKO provides programs, services, and products combined with exercise, education and nutrition to help their members lead a healthy life and achieve their fitness goals.
Last Trade: 3.9052 Week: 4.89 – 2.15Market Cap: 79.79 million