Message: AGORACOM Small Cap TV - August 30th - Highlights
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 30th, 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.
Advanced Explorations Inc. (the "Company" or "AEI") (TSX VENTURE:AXI)
Advanced Explorations Inc. Reports 165 Metre Section of 34% Iron at Tuktu Project-Includes 8 Metres of 50% Iron
Advanced Explorations Inc. (the "Company" or "AEI") (TSX VENTURE:AXI)(FRANKFURT:AE6) is pleased to announce further drill results from its Tuktu Iron Ore Project located in Nunavut, Canada. Drill-hole 11TT011 intercepted 8 metres of high quality banded iron formation (BIF) grading 50.27% Fe within a broader 165.25 metre interval of BIF grading 33.61% Fe (see table below). The same broad interval also included 14 metres of 46.34% iron.
Drill-hole 11TT011 was collared approximately 125 metres ahead of drill-hole 11TT010 (reported August 17, 2011 - 237m @ 33% Fe) and drilled on the same section at the same azimuth and dip.
ABOUT Advanced Explorations Inc.
Advanced Explorations Inc., based in Toronto, Ontario, is a resource development company focused on its Roche Bay Iron Ore Project in Nunavut, one of the world's largest developing iron ore districts. The Roche Bay Project is located proximal to a natural deep water harbour on the east coast of the Melville Peninsula in Nunavut, Canada giving it many logistical advantages. The project has an indicated resource of 323 million tonnes, outlined within a small portion of the potential 140 km of banded iron formation.
Last Trade: 0.39 52 Week: 1.03 – 0.185 Market Cap: 58 Million
New Dimension Resources Ltd. (TSX VENTURE:NDR)
New Dimension Samples 8.32 g/t Gold at Lansing Project, Yukon
New Dimension Resources Ltd. (TSX VENTURE:NDR) (the "Company" or "New Dimension") is pleased to report the results of its Phase I field evaluation of 12 properties under option from Strategic Metals Ltd. ("Strategic Metals"), that comprise the Lansing Project ("Lansing"), located in Yukon and the Gild Project ("Gild"), located in NWT. Highlights of the Phase I evaluation include two strongly anomalous soil samples which returned 8.32 g/t gold and 2.50 g/t gold from the Lance Property within the Lansing Project.
At the Lance Property, strongly elevated gold, arsenic, bismuth and tungsten soil values outline four target areas distributed over approximately 2 kilometres, as described below:
-- The first target comprises a cluster of three strongly anomalous soil samples, including the two highest gold values on the property being 8.32 and 2.50 g/t gold, respectively. -- The second target consists of a single strongly elevated gold-in-soil value of 261 ppb gold -- The third target is defined by a gold-in-soil value of 337 ppb gold. -- The fourth target comprises a high gold-in-soil value of 1.4 g/t.
New Dimension Resources Ltd. is engaged in the acquisition, exploration and development of quality mineral resource properties throughout the Americas with a focus on potential bulk tonnage gold and silver deposits.
Last Trade: 0.145 52 Week: 0.32 – 0.10 Market Cap; 7.2 Million
SilverCrest Announces Second Quarter Earnings of $790,000 and Cash Flow from Operations of $3.1M
SilverCrest Mines Inc. (the "Company" or "SilverCrest") (TSX VENTURE:SVL)(FRANKFURT:CW5) is pleased to announce strong positive cash flow, earnings and operating results in line with budgeted projections for its first quarter of commercial production at its Santa Elena Mine in Sonora, Mexico.
Second Quarter Financial Highlights
Revenues reported from the Santa Elena Mine amounted to $8,556,261. Silver sales were 70,325 ounces at an average realized price of $38.90.
The Company also recorded gold sales of $623,705 related to the delivery of 860 gold ounces to Sandstorm Gold Ltd. ("Sandstorm"), which consists of $300,979 of cash received and $322,725 from amortization of deferred revenue.
Comprehensive earnings for the quarter were $790,429 or $.01 per share compared to a comprehensive loss of $(8,892,761) or $(0.15) per share for Q2 2010.
The Company completed a prospectus financing for total gross proceeds of CAD$30 million. Cash and cash equivalents were $33.3 million at June 30, 2011 of which only $1.5 million is designated cash.
SilverCrest Mines Inc. (TSX VENTURE:SVL)(FRANKFURT:CW5) is a Mexican precious metals producer with headquarters based in Vancouver, BC. SilverCrest's flagship property is the 100%-owned Santa Elena Mine, which is located 150km northeast of Hermosillo, near Banamichi in the State of Sonora, Mexico. The mine is a high-grade, epithermal gold and silver producer, with an estimated life of mine cash cost of $8 per ounce of silver equivalent (55:1 Ag:Au). SilverCrest anticipates that the 2,500 tonnes per day facility should recover approximately 4,805,000 ounces of silver and 179,000 ounces of gold over the 6.5 year life of the open pit phase of the Santa Elena Mine.
Last Trade: 1.59 52 Week: 2.20 = 1.00 Market Cap: 136.51 Million
Great Western Minerals Group Releases 2nd Quarter 2011 Financial Results
Great Western Minerals Group Ltd. ("GWMG" or the "Company") (TSX VENTURE:GWG) (OTCQX:GWMGF) today announced its financial results for the 2nd Quarter of 2011.
GWMG now reports its results under International Financial Reporting Standards. For the three months and the six months ended June 30, 2011, GWMG's financial summary and highlights are as follows:
Great Western Minerals Group Ltd. is an integrated Rare Earths processor. Its specialty alloys are used in the battery, magnet and aerospace industries. Produced at the Company's wholly owned subsidiaries Less Common Metals Limited in Birkenhead, U.K. and Great Western Technologies Inc. in Troy, Michigan, these alloys contain aluminium, nickel, cobalt and Rare Earth Elements
Last Trade: 0.79 52 Week; 1.23 – 0.27 Market Cap: 296.14 Million
Cornerstone Reports 1.34% Copper and 58.0 g/t Silver Over 19.5 m in Trenching at La Fortuna Copper-Silver Project, Chile
Cornerstone Capital Resources Inc. ("Cornerstone") (TSX VENTURE:CGP) (FRANKFURT:GWN) (BERLIN:GWN) (PINK SHEETS:CTNXF) announced today preliminary results for the ongoing exploration program at the La Fortuna copper-silver project located in the Valparaiso Region of central Chile, approximately 100 km north of Santiago.
Highlights -- Seven prospective mineralized zones distributed over a large area (18 km(2)) identified to date -- Of 163 rock samples collected during mapping and prospecting, 34 (19%) returned greater than 0.5% Cu, including 24 (14%) which returned greater than 1.0% Cu; 18 (10%) returned greater than 30 g/t Ag, including 5 (3%) which returned greater than 100 g/t Ag -- Trench TH1 returned 19.5 m at 1.34% Cu and 58.0 g/t Ag -- 78% of copper is soluble in samples (49) which returned greater than 0.5% Cu -- 200 line km ground magnetic survey completed; Induced Polarization survey planned -- Project located immediately adjacent to the Cerro Negro copper-silver mine and mill with connecting road infrastructure
Cornerstone Capital Resources Inc. is a mineral exploration company based in Mount Pearl, Newfoundland and Labrador, Canada, with a diversified portfolio of projects in Ecuador, Chile, and Atlantic Canada, and a strong technical team that has proven its ability to identify, acquire and advance properties of merit.
Richmont Intercepts 7.28 g/t Au Over 31.40 Metres at Wasamac; New Drill Results Reaffirm Strong Potential of this Project
Richmont Mines Inc. (TSX:RIC)(NYSE Amex:RIC),("Richmont" or the "Corporation") is pleased to announce additional results from its extensive drilling program on its Wasamac property (the "Property").
Highlights:
-- New 2011 drill results include: 7.28 g/t Au over 31.40 metres in the Main Zone, 3.14 g/t Au over 9.99 metres and 3.45 g/t Au over 7.66 metres in Zone 1, 2.17 g/t Au over 32.88 metres in Zone 2, and 4.52 g/t Au over 12.17 metres in Zone 3 (true width); -- Richmont has five drills currently active in the area; -- Over 34,000 metres of drilling completed to date; 2011 exploration program extended to 45,000 metres from 35,000 metres previously; -- Updated resource calculation for Wasamac is expected in Q4 2011, and will be used to complete a preliminary economic assessment of the project in Q1 2012.
Additional details about the Wasamac Property
As of December 31, 2010, the Wasamac property had estimated Measured and Indicated Resources of 5,093,180 tonnes grading 2.51 g/t Au for 411,073 ounces of gold, and Inferred Resources of 11,515,020 tonnes grading 2.72 g/t Au for 1,007,875 ounces of gold.
Richmont has produced over 1,200,000 ounces of gold from its operations in Quebec, Ontario and Newfoundland since beginning production in 1991. The Corporation currently produces gold from its Island Gold and Beaufor mines, and is currently advancing its Francoeur Mine to commercial production, which will increase Richmont's production to 100,000 ounces of gold on an annual basis.
Last Trade: 9,46 52 Week: 10.16 – 4.28 Market Cap: 299.83M
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