Message: AGORACOM Small Cap TV - April 19th - 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 April 19th, 2012, and we’ve found 5 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 ... or click on the image below.
Golden Star Resources Reports Preliminary First Quarter 2012 Production Results
Golden Star Resources Ltd. (NYSE Amex: GSS) (TSX: GSC) (GSE: GSR)
today announced preliminary first quarter 2012 production results for its Bogoso/Prestea and Wassa/HBB operations.
The Company produced a total of 77,725 ounces of gold in the first quarter ended March 31, 2012, compared with guidance of 79,000 ounces. Preliminary cash operating cost for the quarter is approximately $1,120 per ounce.
Wassa/HBB operations performed in line with expectations in the first quarter of 2012, with 36,483 ounces sold at an estimated cash operating cost of approximately $1,000 per ounce.
Bogoso/Prestea mine produced 41,242 ounces in the quarter with cash operating costs of approximately $1,220 per ounce.
Tom Mair, President and CEO, commented, "First quarter production was within 1.6% of guidance, slightly impacted at the Bogoso sulfide plant with unscheduled maintenance of the regrind mill. Highlights of the quarter included starting up the Bogoso oxide plant on schedule, taking operational control over the Bogoso back-up power supply from the previous contractor, and progress at Wassa with the modifications to the processing plant. We ended the quarter with a cash balance of $104 million."
COMPANY PROFILE
Golden Star Resources holds the largest land package in one of the world's largest and most prolific gold producing regions. The Company holds a 90% equity interest in Golden Star (Bogoso/Prestea) Limited and Golden Star (Wassa) Limited, which respectively own the Bogoso/Prestea and Wassa/HBB open-pit gold mines in Ghana, West Africa. In addition, Golden Star has an 81% interest in the currently inactive Prestea Underground mine in Ghana, as well as gold exploration interests elsewhere in Ghana, in other parts of West Africa and in Brazil in South America. Golden Star has approximately 259 million shares outstanding. Additional information is available at www.gsr.com.
Last: 1.51Range: 3.12-1.50Market Cap: 390 million
Northern Gold Increases Garrcon Deposit Resource Estimate 77%
Northern Gold Mining Inc. (TSX VENTURE:NGM) -
announces the results of an updated resource estimate for its Garrcon Deposit, including the first Measured resource for the deposit. This NI 43-101 report, independently prepared by A.C.A. Howe International Limited ("Howe") of Toronto, Ontario, determined that at the Garrcon Gold Deposit "Northern Gold's exploration drilling programs from 2009 to 2011 have confirmed a significant gold resource and have been successful in (a) adding metal content (ounces) and (b) upgrading Inferred mineral resources to the Indicated category and the Indicated mineral resources to the Measured category." Using a cut-off grade of 0.1 g/tonne gold for mineralized zone interpretation, Howe outlined a mineralized zone that is nearly vertical, 1,225 meters long, up to 650 meters deep and 300 meters wide (on average).
--UPDATED GARRCON DEPOSIT GOLD RESOURCE ESTIMATE:
--MEASURED 604,000 OZ AVERAGING 1.06 G/TONNE,
--INDICATED 668,000 OZ AVERAGING 1.00 G/TONNE,
--INFERRED 367,000 OZ AVERAGING 0.72 G/TONNE
--FIRST MEASURED RESOURCE
--RESOURCE QUALITY CONTINUES TO INCREASE
--INFERRED TO INDICATED AND INDICATED TO MEASURED
--AVERAGE BLOCK MODEL GRADE ALSO INCREASED
--DEPOSIT REMAINS OPEN TO THE NORTH, EAST, WEST AND AT DEPTH
--DRILLING CONTINUES (BOTH IN-FILL AND STEP-OUT)
--25,000 METERS COMPLETED SINCE DATA CUTOFF FOR THIS RESOURCE
--CONTINUED FOCUS ON COMPLETION OF ENVIRONMENTAL AND METALLURGICAL WORK IN
SUPPORT OF FEASIBILITY STUDY
About Northern Gold Mining Inc.:
Northern Gold is a TSX-V listed, publicly traded junior resource company based in Toronto, Ontario, dedicated to the discovery and development of high value mineral deposits in the proven mining camps of Kirkland Lake and Timmins in Northeastern Ontario. Northern Gold is focused on developing two advanced stage gold deposits on its 100% owned Garrison Gold Property.
Last: 0.225Range: 0.60-0.165Market Cap: 32.6 million
SilverCrest Announces Q1 Silver and Gold Production 134,528 Silver Ounces-Up 108%; 9,405 Gold Ounces-Up 198%
SilverCrest Mines Inc. (TSX VENTURE:SVL)(OTCQX:STVZF)(PINKSHEETS:STVZF)(FRANKFURT:CW5)
is pleased to announce significant production increases of silver and gold in the First Quarter, 2012 as compared to First Quarter, 2011 from the Santa Elena Mine located in Sonora, Mexico.
Production Highlights of First Quarter, 2012 as Compared to First Quarter, 2011
- Silver production increased 108% to 134,528 ounces
- Gold production increased 198% to 9,405 ounces
- Ore Tonnes crushed increased 26% to 264,977
- Silver ounces to pad up 48% to 354,850
- Gold ounces to pad up 67% to 13,342
SilverCrest Mines Inc. (TSX VENTURE:SVL)(OTCQX:STVZF)(PINKSHEETS:STVZF)(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 150 km northeast of Hermosillo, near Banamichi in the State of Sonora, México.
Last: 2.24Range: 3.17-1.07Market Cap: 201 million
Timberline Announces 36% Increase to Its Measured & Indicated Gold Resource at Lookout Mountain
Timberline Resources Corporation (TSX VENTURE:TBR)(NYSE Amex:TLR)
today announced a substantial increase to its National Instrument 43-101 compliant gold resource estimate at its Lookout Mountain Gold Project within the Company's South Eureka Property, which lies along the Battle Mountain - Eureka Trend of central Nevada.
Timberline's updated gold resource estimate at Lookout Mountain, which was prepared by Mine Development Associates ("MDA") of Reno, Nevada, consists of:
- 390,000 ounces Measured & Indicated Gold Resource
(20,765,000 tons at 0.019 opt gold (18,838,000 tonnes at 0.65 g/t))
- 221,000 ounces Inferred Gold Resource
(18,385,000 tons at 0.012 opt gold (16,679,000 tonnes at 0.41 g/t))
About Timberline Resources
Timberline Resources Corporation is exploring and developing advanced-stage gold properties in the western United States. Timberline is working on a transaction to increase its ownership stake from 50% to 100% in its Butte Highlands Joint Venture in Montana where gold production is targeted to commence later this year. Timberline's exploration is primarily focused on the goldfields of Nevada, where it is advancing its flagship Lookout Mountain Project toward a production decision while exploring a pipeline of quality earlier-stage projects at its South Eureka Property and elsewhere. Timberline management has a proven track record of discovering economic mineral deposits and developing them into profitable mines.
Last: 0.54Range: 1.05-0.42Market Cap: 30 million
Novadx Files Updated Technical Report and Confirms Economic Feasibility of Rex Coal Mine Project
Novadx Ventures Corp. ("Novadx" or the "Company") (TSX VENTURE:NDX)
is pleased to announce that it has filed on SEDAR an updated National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101") report titled "Technical Report on the Rex Coal Mine Property, MCoal Corporation, Campbell County, Tennessee, USA", prepared for Novadx Ventures Corp. dated effective March 31, 2012 (the "2012 Technical Report) by Mr. John Feddock, P.E., Senior Vice President and qualified person (the "Qualified Person"), Paul Sainato, P.E., Senior Project Engineer and Hugo Fournier, P.E, Senior Mining Engineer of Marshall Miller & Associates, Inc. ("MM&A").
Highlights: -- Total Measured and Indicated Resources of 38.1M tons and Inferred Resource of 9.6M tons. -- Demonstrated Proven and Probable Recoverable Reserves of 11.3M tons supporting a 23 year expected mine life. -- Economic Assessment of Demonstrated Reserves shows after tax NPV of $71.8 million at a 15% discount rate. -- Recommendation to expand reserves by acquiring adjacent properties and further exploration.
About Novadx: Novadx Ventures Corp. is a Vancouver based mining investment Company. Through its wholly owned subsidiary, Novadx's primary focus is to invest its capital to acquire and develop companies with active or near production high quality coal reserves in the US Appalachia coal region. Novadx intends to continue to grow the value of its coal investments through expanding production and reserves amongst its existing investments and by investing in additional acquisitions. Novadx is actively evaluating a number of high quality coal acquisition opportunities. For more information please visit www.novadx.com.
Last: 0.21Range: 0.55-0.15Market Cap: 16.6 million
Rare Earth Metals Reports 6.17% C-Graphite from Manitouwadge Property
is pleased to announce assay results from sampling completed during a recent due diligence prospecting program on the Manitouwadge Graphite Property. The property consists of 128 staked claim units totaling 2072 hectares, located approximately 30 kilometers north of the town of Manitouwadge in northwestern Ontario. RA owns a 100% interest in the claims.
In summary, the Manitouwadge Graphite Property has a number of positive elements including:
- a known, but little worked, flake graphite horizon(s)
- three new graphite occurrences with assays up to 6.17% C-Graphite from recent due diligence prospecting
- a number of untested AEM "conductors", several of which are proximal to the old and newly discovered graphite showings
- a favourable geological setting consisting of recrystallized meta-sediments which are a common host to most flake graphite deposits
- excellent location and infrastructure
About Rare Earth Metals Inc.
Rare Earth Metals is a well-funded company with a focus on exploring for Rare Earth Element deposits. The Company's shares are listed on the TSX-V exchange under the symbol RA and the OTCQX exchange under the symbol RAREF. The Company presently has two advanced projects in Ontario and Newfoundland and Labrador, both exhibiting multi element potential (REEs, Niobium, Beryllium, Zirconium and Iron Ore) and proximity to available infrastructure. Its flagship properties are the Clay-Howells Prospect and the Red Wine Project. The Company has recently acquired additional properties in the Coldwell Complex near Marathon, Ontario and the Lavergne-Springer REE Prospect near Sturgeon Falls, Ontario. Additional information concerning the Company is contained in documents filed by the Company with securities regulators, available under the Company's profile at www.sedar.com. For more information please visit the Rare Earth Metals web site at www.rareearthmetals.ca.
Last: 0.08Range: 0.38-0.075Market Cap: 6.86 million
SPI Solar Contracts with Thermi-Taneo Venture Capital Fund to Build 7.4 Megawatts in Greece
SPI Solar (“SPI”) (OTCBB: SOPW) a leading vertically integrated photovoltaic (“PV”) solar developer, today announced that the Company will serve as the EPC contractor for the design and construction of 7.4 megawatts in Greece. The Company recently entered a purchase agreement with Thermi-Taneo Venture Capital Fund (“Thermi”) who will buy ownership of the three projects in the Evros region of Greece from SPI. Under the terms of the agreement, SPI is selling each of the three projects which include land-lease agreements and related permits to build the three solar energy facilities (“SEF”).
Thermi is part of the New Economy Development Fund known as the Taneo Fund, which is the largest shareholder of Thermi. The Taneo Fund is a Greek-state sponsored, privately funded and independently managed fund-of-funds which makes venture-capital investments in Greece.
SPI is also working with its local sales representative and distributor, SDL Solar who is providing advisory services on the projects ("SDL”). “We are excited to work with SPI Solar and Thermi on the completion of these projects,” said Mike Lambros, Managing Partner of SDL Solar. “Through our combined efforts, we are working to contribute to Greece’s continued economic development.”
The projects, all of which will be ground mount systems, are scheduled for completion in Q2 and Q3 2012.
About SPI Solar (OTCBB: SOPW):
SPI Solar (“SPI”) (Solar Power, Inc.) is a vertically integrated photovoltaic solar developer offering its own brand of high-quality, low-cost distributed generation and utility-scale solar energy facility development services. Through the Company’s close relationship with LDK Solar, SPI extends the reach of its vertical integration from silicon to system. From project development, to project financing and to post-construction asset management, SPI delivers turnkey world-class photovoltaic solar energy facilities to its business, government and utility customers. For additional information visit: www.spisolar.com.
Last Trade: 0.40 52 Week: 0.70 – 0.20 Market Cap: 73.77 Million
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