AGORACOM Small Cap TV - May 5th - Highlights
posted on
May 05, 2011 09:26AM
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 May 5th, 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.
Endeavour Silver Reports $14.5 Million Adjusted Earnings in Q1, 2011, Thanks to Record Silver-Gold Production and Precious Metal Prices
Endeavour Silver Corp. (TSX: EDR)(NYSE: EXK)(FRANKFURT: EJD
Revenues Up 94%, Cash Costs Per Oz Down 35% Compared to Q1, 2010;
Q1, 2011 Conference Call at 10:00 a.m. PST, Wednesday, May 5, 2011.
Endeavour Silver Corp. announced today its financial and operating results and unaudited financial statements for the First Quarter, 2011. Endeavour owns and operates two high-grade, underground, silver-gold mines in Mexico: the Guanacevi Mines in Durango State, and the Guanajuato Mines in Guanajuato State.
The Company reported record adjusted earnings (a non-IFRS measure) of $14.5 million ($0.18 per share) in the First Quarter, 2011. Net earnings (an IFRS measure) were $0.5 million and operating cash-flow was $14.6 million from revenues totaling $35.4 million. Silver sales averaged $33.18 per oz and the cash cost of production was $4.94 net of gold credits in Q1, 2011.
Highlights of First Quarter, 2011 (Compared to Q1, 2010)
--Adjusted Earnings (non-IFRS measure) rose to $14.5 million ($0.18 per
share) compared to $1.1 million (see IFRS comment below)
--Net Earnings (IFRS measure) fell to $0.5 million ($0.01 per share)
compared to $6.7 million
--Operating Cash-Flow jumped 425% to $14.6 million
--Mine Operating Cash-Flow climbed 170% to $24.5 million
--Revenues escalated 94% to $35.4 million
--Silver production up 17% to 900,133 ounces (oz)
--Gold production up 33% to 5,008 oz
--Silver equivalent production up 20% to 1.1 million oz (40:1 silver: gold
ratio, no base metals)
--Realized silver price up 96% to $33.18 per oz sold, realized gold price
up 28% to $1413 per oz sold
--Cash costs fell 23% to $4.94 per oz silver produced (net of gold
credits)
About Endeavour Silver Corp.
Endeavour Silver is a mid-cap silver mining company focused on the growth of its silver production, reserves and resources in Mexico. Since start-up in 2004, Endeavour has posted six consecutive years of growing silver production, reserves and resources.
Last: 9.58Range: 12.19-3.20Market Cap: 787 million
Canaco Drills 17.5 Metres at 7.29 Grams Per Tonne Gold 80 Metres West of Known Mineralization at Magambazi, Including 4.5 Metres at 17.42 Grams Per Tonne Gold
Canaco Resources Inc. (TSX VENTURE: CAN)
pleased to report new results from five extension and infill diamond drill holes on the Magambazi zone at the Company's Handeni project in Tanzania. Highlights from the new drill results include:
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HoleFrom (m)To (m) Interval (m)Au (g/t)
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MGZD129283.0300.517.57.29
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About Canaco
Canaco is a Vancouver-based mineral exploration company focused on advanced exploration in Africa. Built on a foundation of experienced management and focused on rapidly advancing exploration projects in Tanzania and Ethiopia, Canaco is well positioned to build shareholder value through discovery and resource development.
Last: 3.90Range: 6.45-0.55Market Cap: 766 million
Oro Mining Drills 167 Metres of 2.0 g/t Gold at Taunus Project, Mexico
Oro Mining Ltd OGR-
Oro Mining Ltd. ("Oro Mining" or the "Company"), (TSX VENTURE: OGR) confirms significant progress on its Taunus Project with the ongoing sonic drill program:
--Discovery of shallow high grade gold mineralization in an area recently
accessible due to the completed dewatering of the Taunus pit.
--Sonic hole SN13 returned 166.6 metres of 2.0 g/t gold, including 6.9
g/t gold over 28.5 metres from a down hole depth of 36.7 to 65.2
metres. This hole has discovered gold mineralization in an untested
area of the Taunus resource model, and is indicating a potential
link between the Eldorado and HS zones (See Long Section).
--The average grade of the mineralized intervals in holes recently drilled
by sonic methods in the Eldorado zone is 2.6 g/t gold (average width of
12.7 metres), compared to the average grade of nearby reverse
circulation (RC) holes in the Eldorado zone of 1.1 g/t gold (average
width of 13.5 metres).
--A second sonic rig is being mobilized to complete the planned 5,000 m
drill program by the end of the second quarter. The sonic drilling
technique is proving to be effective in the recovery of the mineralized
breccia material and definition of the Taunus deposit.
--Oro Mining has signed a surface agreement with the local community which
provides provision whereby the Company can access and mine the Taunus
deposit. With this agreement completed, the Company is advancing the
Taunus project with an aim of reaching a production decision.
About Oro Mining
Oro Mining is a publicly-listed company on the TSX Venture Exchange with properties located in Sinaloa and Zacatecas, Mexico. Oro Mining's corporate mandate is to advance its projects toward production, while continuing to make exploration discoveries on its extensive property position.
Last: 0.265Range: 0.70-0.235Market Cap: 32 million
Pelangio Exploration Intersects 1.53 g/t Gold Over 42 Metres at Pokukrom East on the Manfo Property
Pelangio Explorations Inc PX
pleased to announce results from 10 additional diamond drill holes totaling 1,807 metres at the Pokukrom East gold zone on the Manfo Property in Ghana. Highlights of the results reported today include
--1.53 grams per tonne (g/t) gold over 42 metres in SPDD-127 from 204
metres down-hole in a broader intersection of 0.89 g/t gold over 85
metres from 161 metres down-hole;
--1.59 g/t gold over 16 metres in SPDD-128 from 62 metres down-hole;
--1.00 g/t gold over 22 metres in SPDD-125 from 210 metres down-hole,
extending the potential strike at Pokukrom East by 150 metres to the
north;
--Pokukrom East gold zone open in both directions and at depth on an
identified strike length of 660 metres and to a vertical depth of up to
175 metres;
--2011 exploration programs at Manfo and Obuasi fully financed with
Company holding over $10 million in available cash.
About Pelangio
Pelangio is a junior gold exploration company that acquires and explores camp-sized land packages in world-class gold belts, while using innovative corporate restructuring to maximize shareholder value. Drilling is currently underway on two properties with company-making potential in Ghana, West Africa.
Last: 0.62Range: 1.31-0.15Market Cap: 75 million
Cadillac Intersects 582 Feet of 0.39% Cu at Shallow K1-1 Deposit
Cadillac Ventures Inc CDC
Cadillac Ventures Inc. (TSX VENTURE:CDC) ("Cadillac" or the "Company") is pleased to provide assay results for 3 holes drilled into the shallow K1-1 deposit located on the Thierry Mine property, three kilometers east of the historic Thierry Mine shaft and mineral deposit.
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DrillholeFrom (ft)To (ft)Length (ft)Cu%
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K-11-0353011125820.39
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About Cadillac
Cadillac's Thierry Mine project has a measured and indicated mineral resource of 6.2 million tonnes at a grade of 1.92% Cu, and an additional inferred mineral resource of 8.2 million tonnes at a grade of 1.79% Cu
Last: 0.165Range: 0.34-0.13Market Cap: 16.8 million
Zynex Announces First Quarter 2011 Financial Results
Zynex, Inc. (OTCBB: ZYXI), a provider of non-invasive medical devices for electrotherapy and stroke rehabilitation, neurological diagnosis and cardiac monitoring, announces its first quarter 2011 financial results.
The Company's net revenue increased 36% to $6,633,000 for the quarter ended March 31, 2011, as compared to $4,875,000 for the quarter ended March 31, 2010. During the first quarter of 2011, the Company continued to aggressively expand its geographic sales reach by adding 18 new domestic sales representatives. The Company anticipates that it will continue to add sales representatives throughout the remainder of 2011.
The Company reported a gross profit of $5,189,000 and SG&A expenses of $5,328,000 for the first quarter of 2011, as compared to a gross profit of $3,879,000 and SG&A expenses of $3,847,000 for the comparable period in 2010.
Outlook: The Company confirms its initial guidance of anticipated net revenues of between $30 million and $32 million for 2011 and net income per diluted share of between $0.08 and $0.11 for 2011.
About Zynex
Zynex, Inc. (founded in 1996), operates under three primary business segments; Zynex Medical, Zynex NeuroDiagnostics and Zynex Monitoring Solutions. Zynex Medical engineers, manufactures, markets and sells its own design of electrotherapy medical devices for standard digital electrotherapy, used for pain relief, pain management and stroke and spinal cord injury rehabilitation.
Last Trade: 1.0052 Week: 1.00 – 0.301Market Cap: 30.63 Million
Pelangio Exploration Intersects 1.53 g/t Gold Over 42 Metres at Pokukrom East on the Manfo Property
- Pelangio Exploration Inc. (TSX VENTURE:PX)(OTCBB:PGXPF) ("Pelangio" or the "Company") is pleased to announce results from 10 additional diamond drill holes totaling 1,807 metres at the Pokukrom East gold zone on the Manfo Property in Ghana. Highlights of the results reported today include:
--1.53 grams per tonne (g/t) gold over 42 metres in SPDD-127 from 204
metres down-hole in a broader intersection of 0.89 g/t gold over 85
metres from 161 metres down-hole;
--1.59 g/t gold over 16 metres in SPDD-128 from 62 metres down-hole;
--1.00 g/t gold over 22 metres in SPDD-125 from 210 metres down-hole,
extending the potential strike at Pokukrom East by 150 metres to the
north;
--Pokukrom East gold zone open in both directions and at depth on an
identified strike length of 660 metres and to a vertical depth of up to
175 metres;
--2011 exploration programs at Manfo and Obuasi fully financed with
Company holding over $10 million in available cash.
About Pelangio
Pelangio is a junior gold exploration company that acquires and explores camp-sized land packages in world-class gold belts, while using innovative corporate restructuring to maximize shareholder value. Drilling is currently underway on two properties with company-making potential in Ghana, West Africa: the 100 square kilometre Manfo Property on the Sefwi greenstone belt between the Ahafo and Chirano mines, respectively operated by Newmont and Kinross, is the site of four recent near-surface gold discoveries; and the 290 square kilometre Obuasi Property on the Ashanti greenstone belt is located on strike and adjacent to AngloGold Ashanti's prolific, high-grade Obuasi Mine, which has produced over 30 million ounces of gold since 1897.
Last Trade: 0.62 52 Week: 1.31 – 0.15Market Cap: 75.54 Million