AGORACOM Small Cap TV - October 7th - Highlights
posted on
Oct 07, 2011 09:15AM
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 October 7th, 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.
Verisante Issues Update on Regulatory Milestones
Verisante Technology, Inc. (TSX VENTURE:VRS)(OTCQX:VRSEF)(PINK SHEETS:VRSEF)(FRANKFURT:V3T)
a leader in cancer imaging technology, announced today that it has filed an application with Health Canada for a Class II Medical Device License to market and sell Verisante Aura™, a non-invasive medical device for the detection of skin cancer, in Canada.
The Company has completed all applicable safety testing required under Health Canada guidelines. Additional safety testing is also being done to confirm compliance with European guidelines. This additional testing is required to complete the Technical File for submission to a notified body to receive CE Mark approval for Europe. Verisante anticipates submitting our Technical File in October.
"We have come a long way and have met many milestones since licensing this technology from the BC Cancer Agency only 15 months ago," said President and CEO Thomas Braun. "As we move into the final quarter of 2011, we remain confident we will be able to meet our regulatory milestones of Canadian, European, and Australian approval by the end of the year."
About Verisante Technology, Inc.
Verisante is a medical device company committed to commercializing innovative systems for the early detection of cancer. The Verisante Aura™ for skin cancer detection and the Verisante Core™ series for lung, colon and cervical cancer detection utilize a proprietary cancer detection platform while the operating software and probe technology are unique to each device. The cancer detection platform was developed by the BC Cancer Agency and tested and refined on approximately 1,000 lesions at the Skin Care Centre at Vancouver General Hospital. This exclusive platform technology allows Verisante to develop and offer a range of compact, non-invasive cancer detection devices that offer physicians' immediate results for many of the most common cancers. The Core™ has not yet been approved for sale.
Last: 0.84Range:1.26-0.15Market Cap: 52.4 million
Avion Announces Q3 Gold Production of 21,700 Ounces
Avion Gold Corporation (TSX: AVR)(OTCQX: AVGCF)
is pleased to announce third quarter of 2011 production of approximately 21,687 ounces of gold from its Tabakoto/ Segala operations in Mali, West Africa. Gold production during the period was lower by 4,413 ounces than the third quarter budget of 26,100 ounces. Contributing factors to the production shortfall included long delays in getting parts and supplies through customs at the port of Dakar, Senegal and through the Senegal/Mali border. This resulted in lower mechanical availability of the open pit mining fleet, and consequently lower grade ore was processed. Heavy rains during August also impacted production, reducing access to higher grade ore from the Dioulafoundou pit. As a result of the lower than planned production in the third quarter, Avion is providing guidance for 2011 between 95,000 ounces and 100,000 ounces of gold.
During the third quarter of 2011, the Company milled 227,900 tonnes of ore at an average grade of 3.12 g/t Au, with a 95.4% mill recovery. This represents the highest tonnage milled in one quarter that the Company has achieved, averaging 2,477 tonnes per day during the quarter.
About Avion Gold Corporation
Avion is a Canadian-based gold mining company focused in West Africa that holds 80% of the Tabakoto and Segala gold projects in Mali. Gold production commenced at these projects in 2009 with approximately 51,290 ounces produced. 2010 production was 87,630 ounces of gold. Production sustainability will continue to be supported and enhanced by an aggressive 2011 drill program over an approximately 600 km2 exploration package that both surrounds and is near to the Company's existing mine infrastructure. The current mineral resources estimate for the Tabakoto project demonstrates several sources of excellent grade open pit and good grade underground mineral resources thus providing significant flexibility for Avion's future mining plans.
Last: 2.08Range:2.57-0.73Market Cap: 912 million
Aurcana Reports 26% Increase in YTD Silver Production at La Negra and Shafter Silver Mine Construction Update
Aurcana Corporation (TSX VENTURE: AUN)(OTCQX: AUNFF)(PINK SHEETS: AUNFF)
is pleased to report silver production for Q3 2011 of 244,243 ounces that is based on just 80 days of mill production at La Negra. Year-to-date ("YTD"), silver production has increased 26% to 742,026 ounces, compared to 587,057 ounces in 2010. As anticipated, Q3 2011 silver production was slightly lower than 2010's 250,953 ounces as a result of the La Negra ball mill being down nine mill days in order to upgrade a ball mill.
La Negra Highlights
--26% increase in silver produced to 742,026 ounces YTD 2011 compared to
587,057 ounces for YTD 2010.
--47% increase in contained zinc to 1,253 tonnes compared to 850 tonnes
for Q3 of 2010.
--As anticipated, contained copper production was down to 362 tonnes in Q3
2011 compared to 492 tonnes in Q3 2010 due to variable ore zones.
Aurcana experienced a significant improvement in realized contained
copper grades rising to 23% in Q3 2011 from 13% in Q3 2010 due to the
effect of the new lead circuit.
--Lead circuit continues to perform well, producing 455 tonnes of
contained lead which helped improve overall recoveries and increase the
quality of our concentrates.
--4% increase in ore mined to 134,072 tonnes in Q3 2011 from 128,666
tonnes in Q3 2010.
--18% increase in mineralized materials stockpiled from beginning to end
of Q3 2011, with the total stockpile now standing at 94,524 tonnes.
About Aurcana Corporation:
The Shafter Silver Mine is scheduled to start production within 7 months and it is estimated will produce 3.8 million ounces silver in the first year of operation. It has an NI 43-101 Measured and Indicated Resource of 24.6 million ounces of silver and an Inferred Resource of 22.8 million ounces of silver using a 4.0 ounce per ton cut off. The 92% owned La Negra silver-lead-zinc-copper mine has produced 1 million ounces of contained silver over the last 4 quarters.
Last: 0.68Range: 1.10-0.33Market Cap: 242 million
Luna Gold Corp.: Aurizona Gold Mine Third Quarter Production Update
Luna Gold Corp. (TSX VENTURE: LGC)
is pleased to announce its gold production update for the Aurizona Gold Mine for the quarter ending September 30, 2011.
Gold Production for the third quarter was an Aurizona record of 13,473 ounces.
Luna's President & CEO, John Blake, comments, "Luna Gold is pleased with gold production for this quarter, continuing to demonstrate consistent positive improvement in productive capacity at Aurizona, which consolidates our recent production estimates."
The production for Q3, 2011 has satisfied the "Completion Guarantee" in the agreement with Sandstorm Gold exceeding the three month production minimum whereby Luna Gold was required to produce 12,500 ounces of gold in a three month period before April 2012.
About Luna Gold Corp.
Luna is a gold production and exploration Company engaged in the exploration and development of gold deposits and advanced stage gold exploration projects in Brazil. The Company is producing gold at its Aurizona gold mine in Maranhao, Brazil.
Last: 0.46Range: 0.87-0.42Market Cap: 240 million