AGORACOM Small Cap TV - July 20th - Highlights
posted on
Jul 20, 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 20th, 2011, and we’ve found 4 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.
Minera Andes Announces Second Quarter 2011 San Jose Mine Production
(TSX:MAI)(OTCBB:MNEAF) announces production results from its 49% owned San Jose mine in Santa Cruz Province, Argentina. Overall production at the San Jose mine during the second quarter of 2011 was 1,332,000 ounces of silver and 17,700 ounces of gold, of which 49% is attributable to Minera Andes. Production cost information will be provided in conjunction with our second quarter 2011 financial results expected to be released mid-August.
Compared to the first quarter of 2011, second quarter 2011 silver production was 12% lower and gold production was 17% lower. The decrease in silver and gold production was due to a 14% reduction in mill throughput because of a strike at the mine during the second quarter of 2010, which resulted in the loss of 18 days of production. The principal issue surrounding the strike was wages, and a final agreement has been reached with the local union. In addition, annual wage negotiations with the union have reached a satisfactory conclusion. The wage agreements were in line with expectations.
Compared to the second quarter of 2010, second quarter 2011 mill throughput decreased 15% due to the strike at the mine during the second quarter of 2011. However, the silver head grade and metallurgical recovery increased in the second quarter of 2011 compared to the second quarter of 2010, resulting in a net increase of 9% for silver production. The gold head grade was essentially unchanged, but higher metallurgical recovery for gold partially offset the lower mill throughput, resulting in a net decrease of 10% for gold production compared to the second quarter of 2010. Metallurgical recoveries improved to 89% for gold and 87% for silver in the second quarter of 2011 compared to 85% for gold and 81% for silver in the second quarter of 2010.
About Minera Andes:
Minera Andes is an exploration company exploring for gold, silver and copper in Argentina with three significant assets: A 49% interest in Minera Santa Cruz SA, owner of the San Jose Mine in close proximity to Goldcorp's Cerro Negro project; 100% ownership of the Los Azules copper deposit with an inferred mineral resource of 10.3 billion pounds of copper and an indicated resource of 2.2 billion pounds of copper; and, 100% ownership of a large portfolio of exploration properties in Santa Cruz province, Argentina, including properties bordering the Cerro Negro project in Santa Cruz Province
Last: 2.51Range: 3.39-0.72Market Cap: 709 Million
Arian Silver Announces Significant Increase in Mineral Resources at San Jose
Arian Silver Corporation ("Arian" or the "Company") (TSX VENTURE:AGQ)(AIM:AGQ)(PLUS:AGQ)(FRANKFURT:I3A), a silver exploration, development and production company with a focus on projects in the silver belt of Mexico, today announced the results of its updated Canadian National Instrument (NI) 43-101 mineral resource estimates for its 100% owned San Jose Property, located in Zacatecas State, Mexico.
Highlights:
-- 86% increase in resource tonnage along the San Jose Vein (SJV) from the August 2008 mineral resource estimate,
-- 10% higher average silver grade;
-- 105% increase in contained silver, and;
-- 34% of gross silver mineral content now in the indicated category.
-- Mineral resource estimates based on all Phase-1, 2 and 3 drill holes (152
drill holes totaling over 28,000 metres);
-- Mineralisation remains completely open along the western strike and to
depth, and;
-- Phase-4 drill programme underway with 5 holes for 1,745 metres completed
so far.
The in-situ resources comprises 8,000,000 gross tonnes in the indicated mineral resource category, containing 30.03 million (M) ounces (oz) silver (Ag), 69.9 M pounds (lbs) of lead (Pb) and 126.6 M lbs of zinc (Zn) at an average grade of 117 g/t Ag, 0.40% Pb and 0.72% Zn; and 17,000,000 gross tonnes in the inferred mineral resource category, containing 58.42 M oz Ag, 140.1 M lbs of Pb, and 291.1 M lbs of Zn at an average grade of 107 g/t Ag, 0.37% Pb and 0.78% Zn.
Last: 0.60Range: 0.89-0.10Market Cap: 180Million
About the Company
Arian is a silver exploration and development company and is listed on London's AIM; trades on London's "PLUS" market; is listed on Toronto's TSX Venture Exchange and on the Frankfurt Stock Exchange. Arian is active in Mexico, the world's largest silver producing country. The Llooking strategy lies in the envisaged use of large scale mechanized mining techniques over wider mineralized structures, which reduces the overall unit operating cost of metals, and to build up NI 43-101 compliant resources.
Rockridge Drilling Intersects 213 g/t Gold Over 4m at Fatou Gold Project, Mali, West Africa
Rockridge Capital Corp. (TSX VENTURE:RRC) ("Rockridge"; the "Company") is pleased to announce further results of its diamond drilling programme at the 250 km2 Fatou Gold Project, southern Mali.
Highlight results from this second half of the Spring 2011 diamond drill program include 213.97 g/t gold over 4 metres in DDF 010; 13.39 g/t gold over 3 metres in DDF 016 and 8.00 g/t gold over 3 metres in DDF 012. This announcement reports the results of holes DDF-009 to DDF-020.
About the company
Rockridge Capital Corp. engages in the exploration and development of mineral properties, primarily gold in Canada and West Africa.
Last: 0.90Range: 1.05-0.31Market Cap: 56.7 million
NeoGenomics Reports Second Quarter 2011 Results
NeoGenomics, Inc. (NASD OTC BB: NGNM), a leading provider of cancer-focused genetic testing services today reported its results for the second quarter 2011.
Second Quarter 2011 Highlights:
23% revenue growth
27% test volume growth
Incremental profit of $685,000, or 35% of the year-over-year revenue increase
Net loss reduced to $(0.01)/share from $(0.03)/share in Q2 2010
Positive Adjusted EBITDA(1)
Revenue for the second quarter 2011 was $10.5 million, an increase of $2.0 million, or 23%, from the $8.5 million reported in the second quarter 2010. Test volume increased by approximately 27%. Average revenue per test stabilized at $570, which is down approximately 3% from last year's level, but in line with the level reported in the first quarter of 2011.
Second quarter results included approximately $300,000 of one-time revenue from overflow testing performed on behalf of a customer that was re-organizing their lab operations during the quarter. The Company does not expect to recognize this revenue during the third quarter. After adjusting for this and for the internalization of testing by one large client in 2010, revenue and test volume grew by 25% and 32%, respectively.
Net loss for the quarter was $293,000 or ($0.01)/share versus a net loss of $978,000 or ($0.03)/share in the second quarter 2010. Adjusted EBITDA for the quarter was $483,000 versus ($148,000) in the second quarter 2010. About NeoGenomics, Inc.
NeoGenomics, Inc. is a high-complexity CLIA-certified clinical laboratory that specializes in cancer genetics diagnostic testing, the fastest growing segment of the laboratory industry. The company's testing services include cytogenetics, fluorescence in-situ hybridization (FISH), flow cytometry, morphology studies, anatomic pathology and molecular genetic testing. Headquartered in Fort Myers, FL, NeoGenomics has labs in Nashville, TN, Irvine, CA and Fort Myers and services the needs of pathologists, oncologists, urologists, and hospitals throughout the United States.
Last Trade: 1.3552 Week: 1.67 – 0.95Market Cap: 57.82 Million