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 February 7th , 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.
Pacific North West Capital Corp. (TSX: PFN) (OTCQX: PAWEF) (Frankfurt: P7J) is pleased to announce that it has received its Mining Lease for its 100% owned River Valley PGM‐Gold Property, 70 km from Sudbury, Ontario.
The Mining Leases give PFN security of title on the land and the exclusive right to mine the River Valley deposit. The Mining Leases include surface rights that allow for siting of project infrastructure and processing facilities. The Mining Leases are for a period of 21 years (commencing on November 1, 2011) and are renewable.
About River Valley Project
On April 20, 2011 PFN announced that it commenced the Phase I of a $5,000,000, 15,500 metre drill program for its 100% owned River Valley PGM Project. As of October 2011, PFN completed more than 13,500 metres of drilling and more than 140 line km of 3D IP geophysics survey. Work to date at River Valley suggests that the best potential for economic accumulations of PGM-Cu-Ni sulphide mineralization is within the Breccia Zone. This zone includes the main mineralized breccia or main zone. The main zone occurs within about 20 metres of the intrusive contact with Archean gneisses.
Last: 0.14Range: 0.40-0.10Market Cap: 14.5 million
Alhambra Announces Maiden NI 43-101 Gold Resource Estimate for Dombraly
Alhambra Resources Ltd. (TSX VENTURE:ALH)
an international gold explorer and producer, announces that the Corporation has received the results of an initial independent National Instrument ("NI") 43-101 gold resource estimate (the "Estimate") for Alhambra's 100% owned Dombraly gold deposit ("Dombraly"). Dombraly is one of three advanced exploration project areas Alhambra is exploring within its 9,800 square kilometre ("km2") (2.4 million acre) Uzboy Gold Project located in north central Kazakhstan (see location map, Figure 1).
The Estimate was prepared by ACA Howe International UK ("ACA Howe") and Micromine Consulting Services UK ("MCS"). The Estimate includes all exploration data up to December 31, 2010. The final technical report will be filed within the regulatory required 45 days on SEDAR at www.sedar.com and will be posted on the Corporation's website.
The Estimate represents the maiden NI 43-101 gold resource estimate for the Dombraly project,
301,000 ounces ("ozs") of Inferred current mineral resources contained in 9.3 million tonnes grading 1.01 grams per tonne gold ("g/t Au") have been identified (see Table 1),
An additional 22,000 ozs of Indicated current mineral resources contained in 0.60 million tonnes grading 1.22 g/t Au were identified (see Table 1).
Alhambra is a Canadian based international exploration and gold production corporation with operations in the Republic of Kazakhstan. Alhambra holds exploration and exploitation rights to a 2.4 million acre (9,800 km2), 100% owned license called the Uzboy Project, located in the Northern Kazakhstan Metallogenic Province which hosts numerous world-class gold deposits. Over 100 mineral targets, including three advanced exploration areas, are contained within the Uzboy Project.
Last: 0.40Range: 1.05-0.34Market Cap: 46.6 million
Estrella Gold Files Colpayoc NI 43-101 Technical Report and Resource Estimate, Yanacocha District, Peru
Estrella Gold Corporation (TSX VENTURE:EST)
is pleased to announce the submission of its NI 43-101 Technical Report on the Colpayoc Gold Project in northern Peru.
The Ordinary Krige resource estimate for the Daylight Zone shows strong gold grade continuity, and cross checks with drill composite grades, an inverse distance model, and a nearest neighbor model validate the kriged model. The resource is entirely classified in the inferred category, and at a 0.3 g/t gold cutoff totals 19.28 million tonnes averaging 0.50 g/t gold and yielding 313,000 ounces of contained gold. Of this total inferred resource, 17.883 million tonnes averaging 0.51 g/t gold are oxide, and 1.397 million tonnes averaging 0.47 g/t gold are mixed oxide-sulfide. The inferred category could be upgraded if the metallurgical characteristics of the mineralized material prove to be favorable. In addition, there is potential to expand the mineralized zone, and it remains open to the north, east, south, and southwest. Furthermore, the roots of the zone have not been drilled, and the mineralized system is open to depth.
About Estrella Gold Corporation (TSX VENTURE:EST) The Company has 24.1 million shares issued and outstanding on the TSX Venture Exchange (TSX VENTURE:EST). Estrella is a "Prospect Generator" company focused on gold exploration and resource definition in Latin America. Estrella has forty-one exploration properties in Perú, with thirty-six held in venture agreements. Estrella holds 32 properties within the exploration area that is subject to its Alliance Agreement with Cliffs.
Last: 0.385Range: 1.18-0.31Market Cap: 9.2 million
MAX drills 29.2 m of 30.5 g/t Ag and 0.69% Cu in step-out drilling at DeSoto discovery, Majuba Hill, Nevada
MAX Resource Corp. (TSX.V: MXR; OTCBB: MXROF; Frankfurt: M1D) has received assay results from the first three of the four step out drill holes completed at its Majuba Hill copper/silver project in Nevada during the fall of 2011. Hole MM-18 was one of two holes drilled to test a new high grade mineralized zone identified during soil sampling in 2011 near the past producing DeSoto silver mine and intercepted 29.2 meters of 30.5 g/t silver (Ag) and 0.69% cooper (Cu).
MM-18 was drilled 1.4 km to the northwest of MAX's Phase I drilling at the past producing Majuba Hill mine, where MAX intercepted near surface high grade copper and silver mineralization over significant lengths in five of eight holes.
Hole MM-18 was one of two holes drilled to test a new high grade mineralized zone identified during soil sampling in 2011 and intercepted 29.2 meters of 30.5 g/t Ag and 0.69% Cu.
The copper/silver soil anomaly at DeSoto is approximately 1.5 km long by 500 m wide and returned values as high as 1.53% Cu and 209 g/t Ag in soils.
Hole MM-17 was drilled 730 m southeast of Phase I drilling and intercepted 42.7 m of 16.8 g/t Ag, 13.7 m of 15.9 g/t Ag and 6.16 m of 51.0 g/t Ag
Permitting is underway for an extensive Phase III delineation drill program at Desoto to begin in the spring of 2012
MAX Resource Corp. is a Canadian exploration company focused on gold and silver exploration in Nevada. For more information, please visit our web site at www.maxresource.com.
Last Trade: 0.256 52 Week: 0.549 – 0.14 Market Cap: 5.56 Million
China BAK Battery, Inc. ("China BAK", the "Company", or "we") (Nasdaq: CBAK - News), a leading global manufacturer of lithium-based battery cells, today announced its financial results for the first quarter of fiscal year 2012 ended December 31, 2011 ("Q1 2012").
Recent Achievements and Highlights
Revenue increased 12.9% year-over-year to $71.8 million in the first quarter of fiscal 2012
Gross profit was $14.0 million, up 40.4% from $10.0 million in the first quarter of fiscal 2011
Gross margin significantly improved to 19.6% from 15.7% a year ago
China BAK reported another quarter of positive cash flow of $5.6 million from operating activities
Operating income for the first quarter was $2.3 million compared to operating loss of $5.2 million in the previous quarter and operating loss of $1.8 million in the same quarter of fiscal 2011.
On December 31, 2011, China BAK had $5.9 million in cash and cash equivalents. For the first quarter of fiscal year 2012, Days Sales Outstanding (DSO) increased to 124 days from 116 days last quarter and Days Sales of Inventory decreased to 96 days from 123 days last quarter.
China BAK Battery, Inc. (NASDAQ: CBAK - News) is a leading global manufacturer of lithium-based battery cells. The Company produces battery cells that are the principal component of rechargeable batteries commonly used in cellular phones, smartphones, notebook computers, e-bikes, electric vehicles, power tools, uninterruptible power supplies, and portable consumer electronics such as portable media players, portable gaming devices, personal digital assistants, or PDAs, camcorders, digital cameras, and Bluetooth headsets.
LAST Trade: 0.73 52 Week: 2.01 – 0.611 Market Cap: 46.59 million
Please login to post a reply