With us today is Frank C. Smeenk President & Chief Executive Officer of KWG Resources Inc. Mr. Smeenk discusses recent conversation with Noront Resources after proposed acquisition of Cliffs Chromite was announced.
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 January 27th, 2012, and we’ve found 2 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.
Amerigo Announces Q4 2011 Production Results and Provides 2012 Production Guidance
is pleased to announce production results for the fourth quarter of 2011 from Minera Valle Central ("MVC"), the Company's operations located near Rancagua, Chile. MVC produced 12.09 million pounds of copper and 195,729 pounds of molybdenum during the three months ended December 31, 2011, for a total of 43.7 million pounds of copper and 785,068 pounds of molybdenum for the full year.
Dr. Klaus Zeitler, Amerigo's President and CEO, stated, "We are pleased to report that Q4-2011 copper production continued to increase from the prior two quarters which were adversely affected by strike action of workers for El Teniente's contractors, and that December copper production of 4.63 million pounds was the highest monthly amount for the year. Although molybdenum production of 195,729 pounds was lower than budget for the quarter, the 785,068 pounds produced in 2011 represented a new annual production record. As a result, we believe 2012 production should meet or exceed the Company's targets of 50 million pounds of copper and close to one million pounds of molybdenum."
About the Company
Amerigo Resources Ltd. produces copper and molybdenum under a long term partnership with the world's largest copper producer, Codelco, by means of processing fresh and old tailings from the world's largest underground copper mine, El Teniente near Santiago, Chile. Tel: (604) 681-2802; Fax: (604) 682-2802; Web: www.amerigoresources.com; Listing: ARG:TSX
is pleased to announce the first results of drilling at its 100% owned Muirs Reef prospect in New Zealand. This drilling is the first of 17 diamond holes (approx. 2500m) planned to identify gold resources in an area known as Massey Reef.
Glass Earth Gold reports results from its Massey Reef drilling programme, defining extensions to known reef systems both along strike north and south, and at depth. MSDDH 08 drilled extensive colloform banded, platly quartz (after calcite) over a 17 m interval, within an envelope of strong hydrothermal alteration and minor quartz veinlets in andesitic pyroclastics. The hole terminated at 87 m.
Table 1: Significant recent drilling results at Massey Reef,
Glass Earth Gold is one of New Zealand's largest gold exploration companies, with its experienced geological team exploring promising gold prospects across a land position of over 10,000 square kilometres, in both the North and South Islands. The company held a net cash position of C$3.6 M at the end of Q4 2011 to fund exploration progress.
Last: 0.255Range: 0.74-0.205Market Cap: 16.8 million