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 22nd , 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.
Merc Announces Initial NI 43-101 Resource of 1.446 Million Ounces Gold at Colomac
Merc International Minerals Inc. ("Merc") (TSX Venture: MRK)
is pleased to announce an initial NI 43-101 Inferred Mineral Resource estimate of 1.446 million ounces gold ("oz Au") at its 100% owned Colomac property ("Colomac Gold Project") in the Northwest Territories ("NWT"). Colomac's five known gold deposits are represented in this mineral resource estimate: Colomac Dyke, Goldcrest, Dyke Lake, Grizzly Bear, and 24/27, all of which remain open laterally and to depth.
About Merc International Minerals Inc.
Merc is a Canadian-based exploration company focused on acquiring and developing gold mineral properties in the NWT. Its primary land position covers 234,013 acres or 94,701 hectares in the Indin Lake Gold Camp, located approximately 220 kilometres north of Yellowknife, NWT and includes an NI 43-101 Inferred Mineral Resource totalling 1.446 million oz Au with an average grade of 1.05 g/t Au using a block cut-off grade of 0.6 g/t Au.
Last: 0.40Range: 0.41-0.20Market Cap: 35 million
Donner Metals (DON:TSXV) Development to Reach the McLeod Zone a Year Ahead of Schedule
provides an update on positive changes to the development plan for the Bracemac-McLeod Mine as reported to the Company by partner and project operator Xstrata Canada Corporation-Xstrata Zinc Canada Division ("Xstrata Zinc"). Following on Xstrata Zinc's objective to continuously improve the development plan at Bracemac-McLeod, the mine design has been revised to access the McLeod Zone with two ramps by early 2013 as opposed to late 2013 under the original plan. This change will be accommodated within the existing development budget and reschedules production from McLeod to commence in late 2013 as opposed to mid 2014 under the original schedule. The new development plan improves the overlap and timing of production from both the Bracemac and McLeod zones.
With underground drilling scheduled to start at Bracemac by mid-2012, this important change to the mine plan will also provide access a year earlier for both delineation and exploration drilling on both the McLeod Zone and the McLeod Deep deposit. The objective of the underground drill program at both areas is to expand resources and to bring the McLeod Deep deposit into the mine plan as soon as possible.
reports on regional exploration results for drilling conducted within the 4,737 square kilometre Matagami Project as reported to the Company by partner and project operator Xstrata Canada Corporation-Xstrata Zinc Canada Division ("Xstrata Zinc"). Drilling conducted between October and February encountered massive and semi-massive sulphides at the New Hosco and Garon Lake Areas. Favourable Pipe alteration typically associated with massive sulphide deposits in the Matagami camp was encountered approximately 700 metres southwest of the former Isle Dieu Mine and in proximity to the PD1 Deposit. Drilling north of the Persévérance Mine intersected the Key Tuffite horizon, host to most of the Matagami VMS deposits, in an area that opens approximately 7 kilometres of favourable exploration territory.
Robin Adair, Vice President of Exploration, states: "The ongoing exploration program, guided by a very successful exploration team, continues to return exploration results that demonstrate our ability to target and discover mineralizing systems within the Matagami mining camp." Mr. Adair goes on to say, "Our geological understanding of the camp is continually evolving and this has led to the discovery of new areas of favourable geology on which to expand the hunt for the next deposit.
Donner Metals Ltd. is a Canadian development and exploration company focused on base and precious metal projects in Québec. Donner's flagship project is a partnership with Xstrata Canada Corporation in the Matagami Mining Camp covering both the current development of a new mine and on-going exploration activities. The project is located in the Abitibi region of central Québec and it is supported by Xstrata's existing mine infrastructure, a highly experienced workforce and an operating 2,950 tonne per day mill. As well, the area is serviced by highway, power, airport, railway and town site infrastructure.
Last: 0.25Range: 0.37-0.165Market Cap: 41 million
Brazilian Gold Intersects 4m Grading 8.06 g/1 within a Thicker Interval of 78m Grading 0.97 g/t Gold at the Boa Vista Project, Brazil
Brazilian Gold Corporation (BGC - TSX Venture),
is pleased to report assay results for the first 5 holes of the Phase Two drill program (approx. 2,500 m) on the VG1 target (Boa Vista project) in the Tapajos region of northern Brazil. Gold mineralization at the VG1 target was intersected by Brazilian Gold and their joint venture partners, Octa Mineracao Ltda. and D'Gold Mineral Ltda., in the first quarter of 2011. The discovery hole tested the eastern part of a 2 km long gold in soil anomaly and intersected 1.43 g/t gold over its entire length of 102.3 m and ended in mineralization. The road accessible project is located approximately 170 km southwest of the town of Novo Progresso, which is located along the recently paved BR163 highway.
* VGD-009-11 intersected 4 m grading 8.06 g/t gold within a larger mineralized envelope of 78 m grading 0.97 g/t gold.
About Brazilian Gold Corporation
Brazilian Gold is a Canadian-based public company with a focus on the acquisition, exploration and development of mineral properties in northern Brazil. The Company has title to one of the largest land packages (3,750 km2) in the Tapajos and adjacent Alta Floresta gold provinces. The land package contains green fields to more advance stage projects including the Company's flagship Sao Jorge project.
Last: 0.59Range: 1.72-0.33Market Cap: 59 million
TechPrecision Corporation Receives $1.1 Million Order for Proton Beam Therapy Equipment
TechPrecision Corporation (OTC Bulletin Board: TPCS) ("TechPrecision", or "the Company"), an industry leading manufacturer of precision, large-scale fabricated and machined metal components and systems with customers in the alternative energy, cleantech, medical, nuclear, defense, aerospace and other commercial industries, today announced that its Ranor subsidiary has received orders totaling over $1.1 million for various components for an advanced proton beam cancer treatment equipment.
The orders, which include large-scale machining, fabrication and testing for this advanced form of radiation treatment equipment using superconducting technology, are expected to ship in the Q1/Q2 FY2013 timeframe. This technology is aimed at increasing physician and patient access to proton beam therapy by offering a smaller, cost-effective alternative that is designed to preserve all of the treatment benefits of traditional proton treatment systems while removing the obstacles of size, cost and complexity.
TechPrecision Corporation, through its wholly owned subsidiaries, Ranor, Inc., and Wuxi Critical Mechanical Components Co., Ltd., is an industry leading, global manufacturer of precision, large-scale fabricated and machined metal components and systems. These products are used in a variety of markets including: renewable energy (solar and wind), medical, nuclear, defense, industrial, and aerospace.
Last Trade: 0.855 52 Week: 2.10 – 0.82 Market Cap: 15.26 Million
Tengasco Announces Results of 2011 Drilling Operations; 2011 Reserves Updates; and Current Operations
Tengasco, Inc. (NYSE Amex: TGC) announced results of its drilling operations for the year ended December 31, 2011. The Company announced that as a result of its drilling 26 wells in 2011, with 16 completed as producers and 10 dry holes, and polymer activities primarily in Kansas, the Company at December 31, 2011 had increased the Company's proved oil reserves to 2.6 million barrels of oil net to the Company's interest. The Company also announced that during 2011 it had achieved a record gross production volume of 246,000 gross barrels of oil. This resulted in the Company's ratio of reserve replacement in 2011 being 137% of the oil the Company actually produced in 2011.
The Company will report financial results for 2011 by filing its Form 10-K for the year ended December 31, 2011. The Company intends to file its Form 10-K for 2011 and to simultaneously issue an earnings press release, on or before March 30, 2012.
Tengasco, through its Manufactured Methane Corporation subsidiary, is operating landfill gas pipeline from the Carter Valley Landfill in Hawkins County, Tennessee, to Tennessee Eastman in Kingsport, Tennessee. After purification, the methane gas produced from the landfill is piped to Tennessee Eastman to help power its operations.
In addition to expanding its existing operations, Tengasco is constantly evaluation expansion possibilities.
The company’s vision is to use its resources, potential and creative thinking to grow its contribution to the overall effort to find solutions to America’s energy needs.
Last Trade: 1.08 52 Week: 1.50 – 0.63 Market Cap: 65.6 Million
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