AGORACOM Small Cap TV - July 13th - Highlights
posted on
Jul 13, 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 July 13th, 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.
Yukon-Nevada Gold Corp. Produces 25,713 Gold Ounces in Q2
YNGYukon-Nevada Gold Corp. (TSX: YNG) (Frankfurt Xetra Exchange: NG6)
the "Company") is pleased to announce that its 100% owned Jerritt Canyon Operation has produced 25,713 ounces in Q2, comprising 7,162 ounces in April, 10,116 ounces in May and 8,435 ounces in June. Jerritt Canyon is operated by Queenstake Resources USA Ltd., a wholly owned subsidiary of the Company.
Robert Baldock, President and CEO, states, "Even factoring in several voluntary shutdown days during the month of June to facilitate the start of our final refurbishment program at the mill, we still managed a reasonable production level for the month.
We feel that July and August could provide similar production levels to the Q2 months, but in September we will implement a 30 day scheduled shutdown for the entire month to facilitate winterization refurbishments at the mill."
About the company
Yukon-Nevada Gold Corp. is a North American gold producer in the business of discovering, developing and operating gold deposits. The Company holds a diverse portfolio of gold, silver, zinc and copper properties in the Yukon Territory and British Columbia in Canada and in Nevada in the United States. The Company's focus has been on the acquisition and development of late stage development and operating properties with gold as the primary target. Continued growth will occur by increasing or initiating production from the Company's existing properties.
Last: 0.44Range: 0.95-0.25Market Cap: 413 million
Marathon Gold Intersects 1.56 g/t Au over 29.6 Meters True Thickness Near Surface at the Golden Chest Mine. Idaho
Marathon Gold Corporation (MOZ-TSX)
is pleased to announce a significant drill intercept of 29.6 meters of 1.56 g/t gold over 29.6 meters in drill hole GC 11-16 from the core drilling program currently underway at the Golden Chest Mine in Murray, Idaho. This result is part of the open pit program announced in the Company's press release of June 9, 2011. All thicknesses quoted are estimated true thicknesses. The Golden Chest Mine is a joint venture with New Jersey Mining Company (OTCBB:NJMC) where NJMC is the operator of the venture.
"These most recent drill results from the Golden Chest Mine as part of our 2011 exploration program are exciting, and represent solid results for a potential open pit resource. The mineralization is near surface and essentially follows the slope of the hillside, so the amount of waste to be removed would be low," said Phil Walford, President and CEO of Marathon Gold." We remain on track to complete a NI43-101 compliant resource by year end ."
Highlights:
--Visible gold was noted in every surface hole in the high grade
veins
--GC 11-16 returned 1.56 g/t gold over 29.6 m (from 4.3 meters
down the hole.
--GC 11-17 returned 1.18 g/t gold over 38.0 m from 9.3 meters
down the hole.
--GC 11-19 returned 1.29 g/t gold over 24.9 m from 32.1 meters
down the hole.
--GC U 11-09 returned 7.23 g/t gold over 2.9 m) in further
underground drilling of the Idaho vein.
About Marathon Gold Corporation:
Marathon Gold Corporation is one of Canada's newest gold resource development companies, with projects located in the mining friendly jurisdictions of Newfoundland and Labrador, and of the prolific Coeur d'Alene Mining District of Idaho. Marathon has a project pipeline consisting of early stage exploration to advanced resource development projects which have potential to grow into resources and into ore reserves.
Last: 1.22Range: 2.07-1.00Market Cap: 28 million
Scorpio Mining Maintains Strong Production Levels in Second Quarter 2011
Scorpio Mining Corporation (TSX:SPM)
is pleased to report a second strong production quarter in 2011 ("Q2 2011"), representing significant increases over Q2 2010 and maintaining production levels attained in the first quarter of 2011.
Second Quarter Production - 2011
--Mill throughput for Q2 2011 was 128,674 tonnes; an increase of
86% compared to 69,138 tonnes processed in Q2 2010.
--Recovered silver for Q2 2011 totalled 365,692 ounces; an
increase of 95% compared to 187,496 ounces recovered in Q2
2010.
--Recovered zinc for Q2 2011 totalled 5,588,179 pounds; an
increase of 95% compared to 2,859,765 pounds recovered in Q2 of
2010.
--Recovered copper for Q2 2011 totalled 438,529 pounds; an
increase of 17% compared to 374,904 pounds recovered in Q2
2010.
--Recovered lead for Q2 2011 totalled 1,871,789 pounds; an
increase of 103% compared to 923,700 pounds recovered in Q2
2010.
--Recovered silver equivalent ounces* for Q2 2011 totalled
637,157 ounces; an increase of 86% compared to 342,943 ounces
recovered in Q2 2010.
About the company
Strong operational and financial performance positions Scorpio Mining among the best performing silver producers with significant base metal by-product credits in Mexico. Nuestra Señora has proven to be a low-cost operation with strong cash flow. Production from Nuestra Señora is estimated to exceed 3.0 million silver equivalent ounces in 2011.
Last: 1.46Range: 1.65-0.61Market Cap: 281 million
Canaco Announces Additional Magambazi Drill Results, Including 20.3 Metres at 6.93 Grams Per Tonne Gold and 21.7 Metres at 4.7 Grams Per Tonne Gold
Canaco Resources Inc. (TSX VENTURE:CAN)
is pleased to announce new assay results for diamond drill holesat Magambazi on the Company's Handeni project in Tanzania. Highlights include:
--20.3 metres at 6.93 grams per tonne gold from 235.1 metres in hole
MGZD203, including 13.3 metres at 8.96 grams per tonne gold, located in
the keel position at Magambazi Central (section 60720N);
--21.7 metres at 4.70 grams per tonne gold from 67.7 metres in hole
MGZD149, including 5.6 metres at 10.59 grams per tonne gold, in the
near-surface Magambazi Main Lode position approximately 40 metres up-dip
of the discovery hole MGZD001 (section 60440N). This interval continues
to highlight the continuity of thick intercepts of mineralization on
strike and up dip of the discovery hole, and represents the nearest to
surface intercept on this section to date;
About Canaco
Canaco is a Vancouver-based mineral exploration company focused on advanced exploration projects in Africa. Built on a foundation of experienced management and focused on rapidly advancing exploration projects throughout Africa, Canaco is well positioned to build shareholder value through discovery and resource development.
Last: 3.28Range: 6.45-1.15Market Cap: 652 million
Donner Metals Ltd.: Sandstorm Provides US$25 Million Senior Financing
Donner Metals Ltd. (TSX VENTURE:DON)(FRANKFURT:D4M), reports that the Company has entered into a Metal Purchase Agreement with Sandstorm Metals & Energy Ltd. (TSX VENTURE:SND) ("Sandstorm,"). Under the terms of the Metal Purchase Agreement, Donner will receive an upfront purchase deposit from Sandstorm in the amount of US$17.75 million on a date expected to be on or before July 18, 2011 and a second purchase deposit of US$5 million, subject to certain Donner funding conditions, on or before June 30, 2012. In addition Sandstorm is subscribing for 6,200,000 common shares (approximately 4.0% post issuance) of Donner at a deemed price of CDN$0.35 per share, for gross proceeds of CDN$2,250,000.
The Metal Purchase Agreement provides for the sale of metal by Donner to Sandstorm equal to 17.5% of the copper and precious metals (gold and silver) from the Bracemac-McLeod mine. Donner will receive US$0.80 per pound of delivered copper if the spot price of copper per pound as quoted on the London Metal Exchange is above US$2.75 per pound, otherwise, the lesser of US$0.55 and the prevailing spot price of copper per pound. Once Sandstorm has purchased 14.8 million pounds of copper, Donner will receive US$1.05 per pound of delivered copper, if the spot price of copper per pound is above US$2.75 per pound, otherwise, the lesser of US$0.80 and the prevailing spot price of copper per pound. Donner will receive for gold or gold equivalent ounces the lesser of US$350 per ounce and the prevailing spot price for gold per ounce as quoted by the London Bullion Market Association.
Donner has the option for 24 months to purchase back from Sandstorm half of the metal to be sold to Sandstorm for US$17.5 million. Pursuant to the Metal Purchase Agreement, Donner has also agreed to issue to Sandstorm US $1.4 million worth of common shares on the date of the second purchase deposit.
The US$25 million received from Sandstorm will be used for the development of the Bracemac-McLeod mine (Donner Metals Ltd. 35% / Xstrata Canada Corporation 65%) in Matagami, Quebec. Development of the mine began in April 2010 and production into the nearby wholly-owned Xstrata mill is expected to begin in early 2013. The mine is expected to produce an average of 2,500 tonnes per day for four years on the basis of proven and probable mining reserves of 3.7 million tonnes grading 9.6% zinc, 1.3% copper, 28.3 g/t silver and 0.4 g/t gold. Potential to expand the mine life is possible on the basis of inferred mineral resources of 2.63 million tonnes at 8.8% zinc, 1.3% copper, 38.8 g/t silver, 1.1 g/t gold and excellent exploration potential immediately surrounding both mining reserves and mineral resources.
About the company
Donner Metals Ltd. is a Canadian development and exploration company focused on base and precious metal projects in Québec. Donner's flagship project is a partnership with Xstrata Canada Corporation in the Matagami Mining Camp covering both the current development of a new mine and on-going exploration activities. The project is located in the Abitibi region of central Québec and it is supported by Xstrata's existing mine infrastructure, a highly experienced workforce and an operating 2,950 tonne per day mill. As well, the area is serviced by highway, power, airport, railway and town site infrastructure.
Last: 0.265Range: 0.37-0.22Market Cap: 32.6 million
US Dataworks Announces Fiscal 2011 Fourth Quarter Results
US Dataworks, Inc. (OTC Bulletin Board: UDWK), a leader in payment processing solutions, today announced its financial results for its 2011 fiscal fourth quarter ended March 31, 2011.
Revenue for the fourth quarter of fiscal 2011 was $2.1 million compared to revenue of $2.1 million for the third quarter of fiscal 2011 and revenue of $1.6 million for the fourth quarter of fiscal 2010.
Net income for the fourth quarter of fiscal 2011 was $116,000, or $0.00 per diluted share, compared to net income of $224,000, or $0.01 per diluted share, for the third quarter of fiscal 2011 and a net loss of ($515,000) or ($0.02) per diluted share, for the fourth quarter of fiscal 2010.
About US Dataworks
US Dataworks offers on-demand payment processing services with proven enterprise-class payment, deposit, returns processing, and powerful payment analytic tools. US Dataworks is a trusted payments provider to utilities, telecommunications providers, content providers, financial institutions and government agencies.
Last Trade: 0.18352 Week: 0.25 – 0.10Market Cap: 6.1 Million