AGORACOM Small Cap TV - August 22nd - Highlights
posted on
Aug 22, 2011 10:58AM
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 Aug 22nd, 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.
Lake Shore Gold Completes Acquisition of Fenn-Gib Project from Barrick Gold, Work Progressing on Initial NI 43-101 Resource
Lake Shore Gold Corp. (TSX: LSG) ("Lake Shore Gold" or the "Company")
today announced the completion of its previously announced agreement with Barrick Gold Corporation ("Barrick") (TSX: ABX)(NYSE: ABX) to acquire the Fenn-Gib and Guibord Main properties (collectively known as the "Fenn-Gib Project"). The Fenn-Gib Project is located approximately 60 kilometres east of Timmins along the east extension of the Destor-Porcupine Fault Zone and Pipestone Fault Zone near a major dilatent zone (see Figure 1). In the near term, the acquisition provides the Company with the opportunity to add an additional 2 to 3 million ounces of resources and, longer term, to potentially establish a large-tonnage, open-pit mining operation in support of its continued rapid growth following the development of its core Timmins assets.
Tony Makuch, President and CEO of Lake Shore Gold, commented: "We are very excited about the Fenn-Gib project and its potential to provide significant production and attractive returns as Lake Shore Gold continues to grow. We have commenced the work to establish an initial resource at the Project as part of our efforts to significantly grow our total resource base over the balance of this year and into 2012. In addition to the Fenn-Gib resource, we are targeting an initial resource at Thunder Creek of between 1.0 and 1.5 million ounces during the fourth quarter of 2011 and updates to our existing resources at Timmins Mine, Bell Creek and Gold River Trend in the early part of next year. Fenn-Gib represents an attractive and unique opportunity for the Company, providing a large-scale, open-pit component to our business portfolio in an area where we understand the geology well and is in close proximity to our core assets in Timmins. The Project is expected to have a low strip ratio and, with a number of other highly prospective targets on the acquired land, we are very optimistic that the scope and potential of the Project will only get better."
About Lake Shore Gold Corp.
Lake Shore Gold is a rapidly growing mining company with a vision to become a mid-tier gold producer through the successful exploration, development and operation of its properties in the Abitibi Greenstone belt in Northern Ontario and Quebec, starting with its strong base in Timmins, Ontario.
Last: 2.29Range: 4.42-1.91Market Cap: 880 Million
Galway intersects 138 g/t Au over 1.1M, 44.7 g/t Au and 1,120 g/t Ag over 1.2M, 26.8 g/t Au over 1.9M, and 7.5 g/t Au over 7.6 M at Vetas
Galway Resources Ltd. (GWY: TSX-V)
is pleased to announce assay results from an additional three diamond drill holes and the completion of results from two others at its Vetas gold project, host of the El Volcan gold mine, located 8 kilometers southeast of the Company's California gold project in northeastern Colombia. The multiple veins targeted in the current drill program have, in just six holes, returned 26 gold assays of 5 g/t or more, 16 assays of 10 g/t or more, 10 assays of 25 g/t or more and 5 assays of 50 g/t or more. The focus of Galway's initial exploration efforts at Vetas is to test for a continuation of mineralization below the existing 500 meter by 300 meter El Volcan mine, which has been operating for over 400 years and is the largest gold mine in the California-Vetas-Surata gold districts.
GWY-V001
-- 13.4 grams per tonne gold (g/t Au) and 28.2 g/t silver (Ag) over 1.0 meter -- 6.1 g/t Au and 6.6 g/t Ag over 4.9 meters -- 4.7 g/t Au and 51.6 g/t Ag over 1.5 meters -- 4.0 g/t Au and 11.6 g/t Ag over 1.5 meters
GWY-V002
--9.7 g/t Au and 37.4 g/t Ag over 9.4 meters, including 15.5 g/t
Au and 25.6 g/t Ag over 4.6 meters
--9.2 g/t Au and 31.1 g/t Ag over 2.6 meters, including 49.8 g/t
Au and 113.0 g/t Ag over 0.3 meters
--8.6 g/t Au and 13.5 g/t Ag over 2.3 meters
--12.5 g/t Au and 17.1 g/t Ag over 0.6 meters
--4.7 g/t Au and 28.0 g/t Ag over 2.1 meters, including 6.6 g/t
Au and 43.7 g/t Ag over 1.2 meters
About The Company
Galway resources is a well-capitalized company, primarily focused on the exploration of gold and coal in Colombia. The core focus of the Company is gold exploration in northeast Colombia, with drill programs occurring at the California and Vetas gold projects. The Company also has the Victorio molybdenum-tungsten project, with excellent infrastructure, in southwestern New Mexico. A positive scoping study was completed by SRK in 2008. The recent surge in tungsten pricing, coupled with a steady molybdenum price, has prompted management to reassess strategic alternatives to advance the Victorio project.
Last: 1.45Range; 1.52-0.63Market Cap: 163million
Trade Winds Intersects 3.08 g/t gold over 20.8 metres on Block A
Trade Winds Ventures Inc. (TSX-V: TWD, FSE: TVR)
is pleased to announce additional drilling results on the Block A Joint Venture project (50% Trade Winds / 50% Detour Gold), located adjacent to Detour Gold's Detour Lake gold project in northeastern Ontario. The 1H 2011 drilling program of 69 drill holes totaling 29,756.5 metres was completed on May 2, 2011. Trade Winds is the operator of the Joint Venture exploration program.
* 3.08 g/t Au over 20.8 m and 0.95 g/t Au over 26.4 m in M Zone
* 1.91 g/t Au over 10.6 m and 2.81 g/t Au over 7.0 m in Foot Wall
* 2.89 g/t Au over 12.0 m and 4.24 g/t Au over 9.0 m in Hanging Wall
* Assays of 62.5 g/t Au over 0.7 m and 39.6 g/t Au over 0.8 m in M Zone and 49.0 g/t Au over 1.0 m in Hanging wall
ABOUT TRADE WINDS VENTURES INC.
Trade Winds Ventures Inc. has been named to the 2011 TSX Venture 50, a ranking of strong performing companies listed on TSX Venture Exchange. The 2011 TSX Venture 50 is comprised of ten companies from each of five sectors; Clean Technology, Mining, Oil & Gas, Diversified Industries, and Technology & Life Sciences. The 2011 TSX Venture 50 companies were chosen based on the following criteria, with equal weighting assigned to each: share price appreciation, trading volume, market capitalization growth and analyst coverage. TSX Venture 50 is a trade-mark of TSX Inc. and is used under license.
Last: 0.29Range: 0.47-0.14Market Cap: 49 Million
Link to hub
Prophecy Drills 49.5 Meters Grading 1.27 g/t PGM+Au, 0.71% Ni, 0.45% Cu within 472 Meters Grading 0.43% NiEq at Yukon Wellgreen Project
Prophecy Platinum Corp. ") (TSX VENTURE: NKL)(OTCQX: PNIKF)(FRANKFURT: P94P)
announces the drill results received from its 2011 drilling program for its first completed hole on the Wellgreen Project. Borehole WS11-184 encountered 472.6 meters of mineralization grading 0.43% NiEq (3.1 g/t PGM Eq) from surface to the footwall contact. Within this larger swath of mineralization the hole encountered 49.5 meters of 1.27 g/t PGM+Au, 0.71% Ni, 0.45% Cu (1.11% NiEq, or 8.10 g/t PGM Eq). The geology transitioned from blebby disseminated to net-textured to massive sulphide approaching the footwall contact grading 6.3% Ni, 1.7% Cu, 2.7g/t Pt,1.6g/t Pd, 0.17g/t Au, 3.4g/t Ag (from drill core photo at company website).
About Prophecy Platinum
Prophecy Platinum Corp. is a Canadian based Nickel PGM exploration company with projects in Canada, Argentina and Uruguay. Prophecy Platinum's flagship Wellgreen PGM-Cu-Ni project is in Yukon Territory, Canada and the Lynn Lake project is located in Manitoba, Canada. Further information can be found at www.prophecyplat.com.
Last: 4.20Range: 5.63-0.30Market Cap: 212 million
China Mass Media Reports Second Quarter 2011 Unaudited Financial Results
China Mass Media Corp. ("China Mass Media" or the "Company") (NYSE:CMM - News), a leading television advertising company in China, today announced its unaudited financial results for the second quarter ended June 30, 2011.
Second Quarter 2011 Highlights:
Business Outlook
The Company currently expects to generate total net revenues of between US$8.1 million and US$8.8 million for the third quarter of 2011. The expected range of net revenues represents a potential decrease of up to 5.0% or increase of 4.1% compared with the third quarter of 2010. This forecast reflects the Company's current and preliminary estimate, which is subject to change.
About China Mass Media Corp.
As a leading television advertising company in China, the Company provides a full range of advertising services, including advertising agency services, creative production services, public service announcement sponsorship services, and other value added services.
Last Trade: 1.1952 Week: 3.62 – 1.10Market Cap: 30.76 Million
HASCO Medical Announces Second Quarter 2011 Financial Results
HASCO Medical, Inc. (OTCBB: HASC), www.mysouthernmed.com, a managed healthcare provider that serves patients in Alabama, Florida, and Mississippi, announced their second quarter 2011 financial results.
Financial Highlights:
For the three months ended June 30, 2011, the Company reported revenues of $3,724,153 as compared to revenues of $3,253,492 for the three months ended June 30, 2010, an increase of $470,661 or approximately 14.5%
Net income was $154,797 for the three months ended June 30, 2011 compared to net income of $68,976 for the three months ended June 30, 2010
Net income was $161,623 for the six months ended June 30, 2011 compared to a net loss of $(365,133) for the six months ended June 30, 2010.
For the six months ended June 30, 2011, we reported revenues of $6,439,186 as compared to revenues of $6,086,987 for the six months ended June 30, 2010, an increase of $352,199 or approximately 5.8%
EBITDA (earnings before interest, taxes, depreciation, and amortization) for the six months ended June 30, 2011 totaled $438,711 as compared to ($103,399), an increase of $542,110 or 524.3% over 2010.
About HASCO Medical, Inc.
HASCO Medical ("HASC" or the Company) provides products and services that dramatically improve the quality of living for its customers. The Company's products and services include the sale of durable medical equipment, home respiratory equipment and the sale or rental of wheelchair accessible vans for which it provides custom conversion services.
Last Trade: 0.020252 Week: 0.044 – 0.01Market Cap: 15.41 Million