AGORACOM Small Cap TV - March 2nd - Highlights
posted on
Mar 02, 2012 12:00PM
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 March 2nd , 2012, and we’ve found 3 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.
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North American Tungsten Q1 Earnings of $6.6 Million
North American Tungsten (TSX VENTURE:NTC)
is pleased to announce record sales of $26.4 million,record net income of $6.6 million or $0.03 earnings per share and EBITDA(1) of $10.5 million for its first quarter ending December 31, 2011. This compares to a loss of $4.4 million and negative EBITDA(1) of $3.7 million for the first quarter of 2010.
QUARTERLY RESULTS:
During the quarter, NTC continued to implement its "CanTung Enhancement" strategy and began to capitalize on the new infrastructure built during 2011. Significant investments were made to:
1.improve overall tungsten recovery
2.increase mill availability
3.improve power supply and reduce power generation expenses
4.augment ore developmen
As a result, the mill throughput averaged close to 1060 tons daily, mill recovery exceeded 77% and mill availability exceeded 97%. Power generation was reliable and the mine delivered an average feed grade of 1.12% WO3. Accordingly, the Company was able to produce 77,000 metric tonne units (mtu's) of tungsten concentrate and sell 71,000 mtus. In addition, market prices continued to be relatively stable during the quarter and the lag of the Company's pricing formula caught up with the market prices. With that, the Company had record sales of $26.4 million, leading to the net income of $6.6 million and EBITDA(1) of $10.5 million for the quarter.
ABOUT NORTH AMERICAN TUNGSTEN CORPORATION LTD
The Company is a publicly listed Tier 1 Junior Resource Company engaged primarily in the operation, development, and acquisition of tungsten and other related mineral properties in Canada. The Company's 100% owned CanTung mine and MacTung development project make it one of the few tungsten producers with a strategic asset in the western world. MacTung is one of the world's largest known undeveloped high grade tungsten-skarn deposits.
Last: 0.40Range: 0.54-0.175Market Cap: 95 million
Integra Gold Intersects 37.7 g/t Gold over 4 meters, Adds Third Drill Rig to Lamaque Gold Project
INTEGRA GOLD CORP. (TSX VENTURE:ICG)
is pleased to announce preliminary assays from the Triangle Zone's current drill program. Initial high-grade results indicate the potential for additional resources at this zone. Given the high grade of existing resources on the Triangle, 18.73 g/t inferred and 13.51 g/t indicated, this zone continues to be a top priority.
"Continuing to drill the Triangle Zone remains a high priority for the Company. This high grade gold zone has been validated and made compliant over the past 3 years and published its first resource in November, 2011. The replication, although preliminary, of high grade intersects in this current drill session adds to the Company's incentive to explore the extents of this zone in all directions," comments Company President and CEO, John de Jong. "The Triangle Zone's proximity to the #4 Plug and what lies between these two zones is something that the Company also intends to explore further."
About the company
Integra Gold Corp's main asset is the Lamaque gold property in Val d'Or, Québec, Canada, located in the 'Valley of Gold'. The gold project is directly adjacent to the currently producing Sigma Mine and the Lamaque Mine which is now closed. These two mines have produced approximately 9 million ounces of gold and reported approximately 3 million ounces of resources and reserves. Complete mining support and mill infrastructure is located within one kilometer of the Company gold project.
Last: 0.40Range: 0.84-0.18Market Cap: 21 million
Concordia Intersects 4 Meters at Over 3 kg (100 Ounces) Silver Per Tonne as Part of a 3,500 Meter Core Drilling Program at Its Providencia Silver Property in Argentina
Concordia Resource Corp (TSX VENTURE:CCN)
is pleased to announce the results of its first-stage drilling program at the Providencia silver property in northwestern Argentina, where highlights included 4 meters of mineralization at a grade of 3,112 g/t silver (DPR-0004); 1,788 g/t over 7 m (DPR-005) and 60.2 g/t over 44 m (DPR-033).
The drilling program targeted near surface sediment-hosted silver mineralization within the historic pit area of the former producing Providencia Mine, with the aim of delineating an initial resource in line with National Instrument 43-101 guidelines. A total of 3,589.4 meters of core were drilled in 39 holes.
The program has confirmed that mineralization continues under the mined areas and peripheral to the pits, extending for up to 150 m down-dip to the east, 600 m along strike and has been intersected over down-hole thicknesses averaging some 17 m (above 25 g/t Ag). Mineralization is open to the north and at depth. Significant highlights of the program to date are shown below.
Hole |
|
From |
To |
Interval |
Silver |
DPR-005 |
|
19 |
26 |
7 |
1,788.2 |
Including |
22 |
26 |
4 |
3,111.5 |
About the company
Concordia Resource Corp. (“Concordia”) is a well-financed junior explorer seeking to identify large-scale mineral resources in Africa and South America. Concordia's 2012 focus is on generating a NI 43-101 standard resources on its Kerboulé gold project in Burkina Faso and its Providencia silver mine in northwestern Argentina.
Last: 0.48Range: 1.06-0.43 Market Cap: 41 million