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http://www.amsterdamnews.org/News/article/article.asp?NewsID=65096&sID=20
Major breakthrough in fight against sickle cell disease
by HERB BOYD
Special to the AmNews
Originally posted 1/4/2006
With two recent victories under its belt, there is reason for optimism
at Xechem, a development stage biopharmaceutical company that has been
working diligently to produce and market a drug to fight against Sickle
Cell Disease (SCD).
Recently, Xechem International announced that it had acquired the
exclusive, worldwide licensing rights to a new five-membered heterocyclic
anti-sickling compound from Virginia Commonwealth University (VCU).
“Early research has shown this anti-sickling agent to be highly effective
and a relatively non-toxic treatment for Sickle Cell Disease,” a press
release from Xechem said. This new compound, the company stated, will
further expand Xechem’s portfolio of products in its fight against this
disease that is so common among Africans and African Americans.
Acquiring this compound bolsters Xechem’s portfolio, which already
includes a license from the National Institute of Pharmaceutical Research
and Development, Ministry of Health, Government of Nigeria, for the
manufacture, marketing, and distribution of NICOSAN/HEMOXIN, an all
natural, phyto-pharmaceutical product that has also shown enormous promise for
SCD, according to Xechem.
NICOSAN/HEMOXIN has been granted an “Orphan Drug” status by both the
U.S. Food and Drug Administration and the European Union’s regulatory
body. The company is currently preparing an Investigational New Drug (IND)
application for submission to the FDA and EU agencies.
''We know of no existing non-toxic medicines available anywhere in the
world for the effective treatment of Sickle Cell Disease,” said Dr.
Ramesh C. Pandey, Xechem's Chairman and CEO. “Between our existing
product, NICOSAN™/HEMOXIN™, a non-toxic product that has shown excellent
results in Phase IIA and Phase IIB clinical trials in Nigeria, and this
promising new heterocyclic pharmaceutical agent being developed in
collaboration with VCU, Xechem will be in a truly unique position to offer
viable and efficacious treatments to patients suffering with this painful
and debilitating condition.”
Along with the acquisition of the VCU licensing agreement, last week
Xechem announced it had settled its anti-trust lawsuit against
Bristol-Myers Squibb Company for $4.2 million. The lawsuit, filed two years ago,
stemmed from Xechem’s allegations that Bristol Myers “had engaged in
anti-competitive practices relating to Xechem’s efforts to manufacture
and bring to market the drug paclitaxel, a generic equivalent to
Bristol’s cancer drug, TAXOL ®.”
The settlement, according to Dr. Pandey, will further his company’s
plans to launch its sickle cell drug. “The settlement with Bristol Myers
could not have come at a better time for Xechem,” he said.
Dr. Pandey has a distinguished career in the biomedical sciences
spanning over 35 years and has served with numerous universities, government
agencies and pharmaceutical companies worldwide. He came to the United
States from India in 1967 with a Ph.D. in medicinal chemistry and spent
three post-doctorate years at the University of Illinois-Champaign
Urbana, IL with Professor Kenneth L. Rinehart, Jr.
Xechem International, Inc. is a development stage biopharmaceutical
company focusing on anticancer, antiviral (including AIDS), antifungal,
Sickle Cell Disease, antimalarial and antibacterial products from natural
sources, including microbial and marine organisms. Xechem’s mission is
to bring relief to the millions of people who suffer from these
diseases. Its primary focus is on the development of phyto-pharmaceuticals and
other proprietary technologies, including those used in the treatment
of orphan diseases. Its primary attention and resources are currently
being directed toward the development and commercial launch of
NICOSAN™/HEMOXIN™, which has shown efficacy in the treatment of SCD.
Sickle Cell Disease is a genetic blood disorder caused by an
abnormality in the hemoglobin molecule. Patients with this disease often produce
stiff, abnormally shaped cells that do not flow freely through blood
vessels, creating clogs in the vessels, which in turn cut off the flow of
normal hemoglobin and oxygen to the body. In Nigeria alone, according
to a mini-documentary produced for Xechem by DDO Group LLC Harlem Edit,
more than 25% of the population are carriers of the SCD trait and over
4.5 million Nigerians (~5% of the population) are actually afflicted
with the disease. Approximately 12 million people, mostly in sub-Saharan
Africa, are believed to suffer from this disease worldwide.
Blue's Review Today(March 3, 2006)||CYTR OZN CIEN ONNN NENG UDW
DCTH...
NAZ once managed to touch the uptrend line developed from late Oct
05 but failed late this afternoon. Hopefully it will be able to
stand above that line after 1-2 more trying. I still think 2330
level would be re-visited, before FED meeting this month. I wish NAZ
walks up in a way "slowly" before Fed meeting, "not too fast" -which
is the ideal scenario for our active traders.
Here's some of my recent picks' review:
======================================
TIII, down to 2.35(-2.49%). Still holding here.
PTII, reached 4.17 today, bot @3.19 & called on Feb 27.(ptii-bot-
some-319-here.html 27 Feb 2006 by Blue) . Once up +31% within 5 days.
MRVC, reached 3.76 today(+11.45%). Called @2.16 on Jan.9. (bought-
mrvc216-today.html9 Jan 2006 by Blue) . U could be up+74.5% within 8
weeks.
DCTH now 4.4, still believe this could be a longer-term holding
story.
MMM.to closed @2.48 today, bot @1.99 &called.(bot-back-cammm-199-for-
bounce.html21 Feb 2006 by Blue)
MAE.to reached 3.87 today(+7.39%), called @3.14 on Feb28,Tuesday.
Once up+23% within 3 days.
OZN.to(us:OZN) closed @2.46 today(+4.24%), bot @2.31 yesterday. Big
institution buying last Q.
DYMTF closed @1.28 today(+8.82%), bot @1.025 on Feb 28. Let it run.
WSPI closed @12.7, bot @10.49 on Feb 16 and called as a growth pick.
ASXSF, reached 1.72 closed @1.65(+6.45%) today, bot @1.40 on March1.
Still holding.
GGB bot April 25 call option @0.9 on Mar 1, reached 1.65 on Mar 2.
GGB closed up today. Sold out. Sold other options (KGC AEM...)as
well. I found option a good way to make fast money if you trade it
for 1-3days only.
HOMS reached 7.04, closed @6.69 today(+11.87%), bot@... on Feb23
&called.
SKFT closed @0.3 today(+5.26%), bot @0.25 on Mar 1.
http://www.sftnj.com/ Let it run.
CYTR closed @1.60 today(+15.94%). Called it @1.19-1.13 on Jan.18
(Just-added-cytr113.html 18 Jan 2006 by Blue ) . I once said "it is
my pick of 2006." RNAI(+14.14%) ALNY(+4.99%) ...flying high recently.
CIEN once shot to 4.93 today, ONNN once shot to 7.23 ...could be
bulls in 2006.
...etc.
Today's Buying:
==============
Bot NENG @2.33 Today
Bought UDW @0.35 Today
...etc.
==============
In the end, remember: Market doesn't top where the bears like.
Market will top when the bears turn into "bulls". That's why I
remain on bullish side playing.
=========================================
Check & save if you'd like:
http://BluelightNewsletter.Blogspot.Com
=========================================
Blue' Review Today(Feb 13, 2006) ||
AVGN,RSFF,BRCD,PFSW,COPY,BFLY,LJPC,AVSO....
Today market(NAZ) broke the 2240-2250 support area again & set new
low of 2006 @2232.68. S/T speaking NAZ has shown a bearish picture
here. Right now I'm still focusing on bullish penny play & looking
for some short play. Here's some brief review on my recent picks:
Short-side: RBAK, closed @19.16 today. My last short was @19.35 last
Wednesday. Shorted more 19.36 today. Covered. Might short back later
again. SIFY dropped & closed @11.5. Shorted @13.32 on Feb 9 &
covered yesterday. No more shorts by now.
Long-side: "bullish penny play"
IMNR reached 0.17 today, passed my target set @0.15-0.16 when it was
traded @0.03x.
CDSS reached 0.38 today(+28.7%), , called around 0.3-0.28 recently.
CYTR reached 1.33,new 52wks-high, bot &called around 1.19 not long
ago.
RSFF closed @2(+9.89%), bot @1.57 on Jan 23 &called. I said it could
be my another GTRE pick (called @2.7 &reached 6.06 in 3-4 weeks). I
like bullish penny.
LJPC reached 5.14, bot @4.82 Feb 10. Looking good. Hold.
PFSW reached 1.72 today(+7.95%), bot @1.51 on Feb10. Looking
bullish. Hold.
AVSO closed @2.05 today(+5.13%), bot @1.80 on Feb 10. Hold.
COPY closed @0.97 today,bot @0.92 on Feb 10. Holding.
FDSAW closed @0.67 today,bot @0.65 on Feb 10. Still hold.
AVGN closed @5, called @3.35 (bought-avgn335-today 18 Jan 2006 by
Blue). Excellent play for swing trader.
BFLY, bot back @1.01 today. Looking undervalued.
BRCD, bot back @4.83 today. (bought-brcd471-yesterday 9 Feb 2006 by
Blue). Bullish play.
...etc.
Please note penny play is risky. If you're not a full-time trader,
better not play any of them.
Check & save if you'd like: http://bluelightnewsletter.blogspot.com/
Weare on our own here :(
The PRs are good but there is no interest from the public :(
Consolidated Global Minerals (TSXV:CTG) – An Emerging U.S. Gold Producer
An Emerging Junior Gold Company with Near-Term Production AND Tremendous Upside Exploration Potential.
The majority of junior mining companies never bring a single mine into production. Consolidated Global Minerals (Cons. Global) has 18 independent past producing gold mines that it is bringing into production. The company is also gearing up for an extensive exploration program on its holdings in three prolific gold camps in North America.
Front Range Gold Mine, Colorado, U.S.A:
· Cons. Global operates and has a 50% interest in the Front Range Gold Mine Development located in the Gold Hill Mining District 8 miles northwest of Boulder, Colorado
· Recent consolidation of the district added 2,000 ft. of vein strike length to the existing mine.
· Capital investment of US $2 million has been employed to prepare the operation for mining and milling.
Cash Mine, Colorado, U.S.A:
· Stope development and full-scale mill testing commenced during the third quarter 2005.
· Measured resource of the Cash and Rex mines of 15,948 tons at 1.71 oz/t gold and 14.8 oz/t silver (R. McLellan, 1964).
· Ready-to-operate and permitted mill has current capacity to handle 50 tons per day, with planned mill upgrades to 75 and 100 tons per day.
Jerritt Canyon, Nevada, U.S.A:
· Cons. Global has acquired mineral rights on 6 properties totalling 10,000 acres in Nevada in the world-renowned "Carlin-Trend" gold camp.
· Cons. Global recently staked approx. 800 acres adjacent to Jerritt Canyon, where over 6 million ounces of gold have been produced to date.
· Cons. Global has acquired 39 mineral claims and mineral rights to approximately 2,025 acres of land adjacent to Jerritt Canyon.
· Cons. Global's Property straddles the structure and rocks that hosts the proven gold deposits at Jerritt Canyon.
· US $1.8 million has already been spent on Cons. Global's Jerritt Canyon holdings by a previous operator, with prior work indicating the presence of several possible high-grade zones at depth.
Red Lake, Ontario, Canada:
· Red Lake is recognized as being one of Canada’s most prolific gold producing areas.
· Cons. Global owns claims covering 1,400 acres that are 2 miles from Goldcorp’s new Red Lake Mine in Ontario, one of the richest deposits in the world.
· Cons. Global’s Red Lake property straddles the structures that host proven gold deposits in the district.
Other Interests:
· Cons. Global has vended its Tunisian interest to Maghreb Minerals plc (Zinc), listed December 2004 on the London AIM and today owns 32.6% of the shares of Maghreb Minerals.
· In coming to trade, Maghreb raised $7.3 million and started a 5,000 metre drilling program on its Zinc properties in North Africa.
· Maghreb owns 5 exploration licenses covering 10,000 hectares and has options on two government-run mines and mills in Tunisia, North Africa.
· Global has recently acquired 7 claim groups in the Big Indian Mining District, recognized as Utah’s premier uranium district.
Share Information:
Trading Symbol: "CTG" - Toronto Venture Exchange (TSXV)
Shares Outstanding: 51M shares (Fully Diluted)
Public Float: 32M shares (Approx.)
Institutional Ownership: 26%
Insider Ownership: 34%
52 Week High: $0.52
52 Week Low: $0.13
Current Price: $0.21
Market Cap: CDN $10.0M (January 12/2006)
Consolidated Global Minerals (TSXV:CTG) – An Emerging U.S. Gold Producer
An Emerging Junior Gold Company with Near-Term Production AND Tremendous Upside Exploration Potential.
The majority of junior mining companies never bring a single mine into production. Consolidated Global Minerals (Cons. Global) has 18 independent past producing gold mines that it is bringing into production. The company is also gearing up for an extensive exploration program on its holdings in three prolific gold camps in North America.
Front Range Gold Mine, Colorado, U.S.A:
· Cons. Global operates and has a 50% interest in the Front Range Gold Mine Development located in the Gold Hill Mining District 8 miles northwest of Boulder, Colorado
· Recent consolidation of the district added 2,000 ft. of vein strike length to the existing mine.
· Capital investment of US $2 million has been employed to prepare the operation for mining and milling.
Cash Mine, Colorado, U.S.A:
· Stope development and full-scale mill testing commenced during the third quarter 2005.
· Measured resource of the Cash and Rex mines of 15,948 tons at 1.71 oz/t gold and 14.8 oz/t silver (R. McLellan, 1964).
· Ready-to-operate and permitted mill has current capacity to handle 50 tons per day, with planned mill upgrades to 75 and 100 tons per day.
Jerritt Canyon, Nevada, U.S.A:
· Cons. Global has acquired mineral rights on 6 properties totalling 10,000 acres in Nevada in the world-renowned "Carlin-Trend" gold camp.
· Cons. Global recently staked approx. 800 acres adjacent to Jerritt Canyon, where over 6 million ounces of gold have been produced to date.
· Cons. Global has acquired 39 mineral claims and mineral rights to approximately 2,025 acres of land adjacent to Jerritt Canyon.
· Cons. Global's Property straddles the structure and rocks that hosts the proven gold deposits at Jerritt Canyon.
· US $1.8 million has already been spent on Cons. Global's Jerritt Canyon holdings by a previous operator, with prior work indicating the presence of several possible high-grade zones at depth.
Red Lake, Ontario, Canada:
· Red Lake is recognized as being one of Canada’s most prolific gold producing areas.
· Cons. Global owns claims covering 1,400 acres that are 2 miles from Goldcorp’s new Red Lake Mine in Ontario, one of the richest deposits in the world.
· Cons. Global’s Red Lake property straddles the structures that host proven gold deposits in the district.
Other Interests:
· Cons. Global has vended its Tunisian interest to Maghreb Minerals plc (Zinc), listed December 2004 on the London AIM and today owns 32.6% of the shares of Maghreb Minerals.
· In coming to trade, Maghreb raised $7.3 million and started a 5,000 metre drilling program on its Zinc properties in North Africa.
· Maghreb owns 5 exploration licenses covering 10,000 hectares and has options on two government-run mines and mills in Tunisia, North Africa.
· Global has recently acquired 7 claim groups in the Big Indian Mining District, recognized as Utah’s premier uranium district.
Share Information:
Trading Symbol: "CTG" - Toronto Venture Exchange (TSXV)
Shares Outstanding: 51M shares (Fully Diluted)
Public Float: 32M shares (Approx.)
Institutional Ownership: 26%
Insider Ownership: 34%
52 Week High: $0.52
52 Week Low: $0.13
Current Price: $0.21
Market Cap: CDN $10.0M (January 12/2006)
Consolidated Global Minerals (TSXV:CTG) – An Emerging U.S. Gold Producer
An Emerging Junior Gold Company with Near-Term Production AND Tremendous Upside Exploration Potential.
The majority of junior mining companies never bring a single mine into production. Consolidated Global Minerals (Cons. Global) has 18 independent past producing gold mines that it is bringing into production. The company is also gearing up for an extensive exploration program on its holdings in three prolific gold camps in North America.
Front Range Gold Mine, Colorado, U.S.A:
· Cons. Global operates and has a 50% interest in the Front Range Gold Mine Development located in the Gold Hill Mining District 8 miles northwest of Boulder, Colorado
· Recent consolidation of the district added 2,000 ft. of vein strike length to the existing mine.
· Capital investment of US $2 million has been employed to prepare the operation for mining and milling.
Cash Mine, Colorado, U.S.A:
· Stope development and full-scale mill testing commenced during the third quarter 2005.
· Measured resource of the Cash and Rex mines of 15,948 tons at 1.71 oz/t gold and 14.8 oz/t silver (R. McLellan, 1964).
· Ready-to-operate and permitted mill has current capacity to handle 50 tons per day, with planned mill upgrades to 75 and 100 tons per day.
Jerritt Canyon, Nevada, U.S.A:
· Cons. Global has acquired mineral rights on 6 properties totalling 10,000 acres in Nevada in the world-renowned "Carlin-Trend" gold camp.
· Cons. Global recently staked approx. 800 acres adjacent to Jerritt Canyon, where over 6 million ounces of gold have been produced to date.
· Cons. Global has acquired 39 mineral claims and mineral rights to approximately 2,025 acres of land adjacent to Jerritt Canyon.
· Cons. Global's Property straddles the structure and rocks that hosts the proven gold deposits at Jerritt Canyon.
· US $1.8 million has already been spent on Cons. Global's Jerritt Canyon holdings by a previous operator, with prior work indicating the presence of several possible high-grade zones at depth.
Red Lake, Ontario, Canada:
· Red Lake is recognized as being one of Canada’s most prolific gold producing areas.
· Cons. Global owns claims covering 1,400 acres that are 2 miles from Goldcorp’s new Red Lake Mine in Ontario, one of the richest deposits in the world.
· Cons. Global’s Red Lake property straddles the structures that host proven gold deposits in the district.
Other Interests:
· Cons. Global has vended its Tunisian interest to Maghreb Minerals plc (Zinc), listed December 2004 on the London AIM and today owns 32.6% of the shares of Maghreb Minerals.
· In coming to trade, Maghreb raised $7.3 million and started a 5,000 metre drilling program on its Zinc properties in North Africa.
· Maghreb owns 5 exploration licenses covering 10,000 hectares and has options on two government-run mines and mills in Tunisia, North Africa.
· Global has recently acquired 7 claim groups in the Big Indian Mining District, recognized as Utah’s premier uranium district.
Share Information:
Trading Symbol: "CTG" - Toronto Venture Exchange (TSXV)
Shares Outstanding: 51M shares (Fully Diluted)
Public Float: 32M shares (Approx.)
Institutional Ownership: 26%
Insider Ownership: 34%
52 Week High: $0.52
52 Week Low: $0.13
Current Price: $0.21
Market Cap: CDN $10.0M (January 12/2006)
Conforce International (CFRI) Signs Exclusive Supply Agreement With Industry Giant Royal Group Technologies
2006-01-17 08:00 ET - News Release
TORONTO, ON -- (MARKET WIRE) -- 01/17/06
http://at.marketwire.com/accesstracking/AccessTrackingLogServlet?PrId=106422&ProfileId=051205&am...
Conforce International, Inc. (OTC: CFRI), developers of the revolutionary EKO-FLOR, are pleased to announce that they have signed an Exclusive Supply Agreement with Royal Group Technologies Ltd. (listed on the NYSE and TSX) for the manufacture of the new Conforce composite container flooring product, EKO-FLOR. The deal concludes months of negotiations and marks the commencement of preparations for the production of EKO-FLOR, scheduled for launch in mid 2006.
Royal Group Technologies Ltd. ("Royal") is North America's largest PVC extruder and one of the world's leading polymer-based manufacturers with production and distribution in over 60 countries worldwide. With over 9,000 employees, Royal is a global leader in technologically superior design and production.
The agreement with Royal allows Conforce to have EKO-FLOR mass-produced in strategically located production facilities around the world. This will ensure consistent new product distribution to current Conforce clients such as the International shipping lines, as well as to new clients such as container leasing companies that have expressed interest in the product. The venture with Royal also enables Conforce to capitalize on after-market distribution through the planned worldwide network of Conforce distributors and sales agents. The alliance with Royal will allow Conforce to maintain, at all times, competitive global pricing.
Mr. Marino Kulas, President and CEO of Conforce, said that having Royal as their manufacturing partner is the "perfect solution to the production end of the EKO-FLOR business." Mr. Kulas added that "the ability to leverage the manufacturing strengths of one of the largest producers in the world will enable us to meet anticipated demand. We are confident that Royal's considerable manufacturing expertise and worldwide presence will be an asset leading up to and during our global launch."
About Conforce International
Management of the Company has been in the container business for over 25 years. In addition to the company's business of container handling and storage through its 5,000+ container capacity terminal facility, Conforce has also been engaged in the research and development of a proprietary composite product designed to change the way shipping containers are made, worldwide. The Company has developed a material that simulates the characteristics of wood while testing lighter, stronger and more cost effective. The environmentally friendly product, named EKO-FLOR, is currently in phase one testing with a planned launch in mid 2006. For more information on the Company, its EKO-FLOR product, or its Terminal Operations, please visit: www.conforce1.com.
Safe Harbor Act Disclaimer: "Forward-looking statements" in this release are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Act of 1995. These forward-looking statements are subject to certain risks and uncertainties and actual results could differ from those discussed. This material is information only and is not an offer or solicitation to buy or sell securities.
CONTACT:
Kathryn Saliani
Investor Relations
416.234.0266 ext. 6
EMAIL:
investors@conforce1.com
WEB-SITE:
www.conforce1.com
Steady volume :)
Consolidated Global Minerals (TSXV:CTG) – An Emerging U.S. Gold Producer
An Emerging Junior Gold Company with Near-Term Production AND Tremendous Upside Exploration Potential.
The majority of junior mining companies never bring a single mine into production. Consolidated Global Minerals (Cons. Global) has 18 independent past producing gold mines that it is bringing into production. The company is also gearing up for an extensive exploration program on its holdings in three prolific gold camps in North America.
Front Range Gold Mine, Colorado, U.S.A:
· Cons. Global operates and has a 50% interest in the Front Range Gold Mine Development located in the Gold Hill Mining District 8 miles northwest of Boulder, Colorado
· Recent consolidation of the district added 2,000 ft. of vein strike length to the existing mine.
· Capital investment of US $2 million has been employed to prepare the operation for mining and milling.
Cash Mine, Colorado, U.S.A:
· Stope development and full-scale mill testing commenced during the third quarter 2005.
· Measured resource of the Cash and Rex mines of 15,948 tons at 1.71 oz/t gold and 14.8 oz/t silver (R. McLellan, 1964).
· Ready-to-operate and permitted mill has current capacity to handle 50 tons per day, with planned mill upgrades to 75 and 100 tons per day.
Jerritt Canyon, Nevada, U.S.A:
· Cons. Global has acquired mineral rights on 6 properties totalling 10,000 acres in Nevada in the world-renowned "Carlin-Trend" gold camp.
· Cons. Global recently staked approx. 800 acres adjacent to Jerritt Canyon, where over 6 million ounces of gold have been produced to date.
· Cons. Global has acquired 39 mineral claims and mineral rights to approximately 2,025 acres of land adjacent to Jerritt Canyon.
· Cons. Global's Property straddles the structure and rocks that hosts the proven gold deposits at Jerritt Canyon.
· US $1.8 million has already been spent on Cons. Global's Jerritt Canyon holdings by a previous operator, with prior work indicating the presence of several possible high-grade zones at depth.
Red Lake, Ontario, Canada:
· Red Lake is recognized as being one of Canada’s most prolific gold producing areas.
· Cons. Global owns claims covering 1,400 acres that are 2 miles from Goldcorp’s new Red Lake Mine in Ontario, one of the richest deposits in the world.
· Cons. Global’s Red Lake property straddles the structures that host proven gold deposits in the district.
Other Interests:
· Cons. Global has vended its Tunisian interest to Maghreb Minerals plc (Zinc), listed December 2004 on the London AIM and today owns 32.6% of the shares of Maghreb Minerals.
· In coming to trade, Maghreb raised $7.3 million and started a 5,000 metre drilling program on its Zinc properties in North Africa.
· Maghreb owns 5 exploration licenses covering 10,000 hectares and has options on two government-run mines and mills in Tunisia, North Africa.
· Global has recently acquired 7 claim groups in the Big Indian Mining District, recognized as Utah’s premier uranium district.
Share Information:
Trading Symbol: "CTG" - Toronto Venture Exchange (TSXV)
Shares Outstanding: 51M shares (Fully Diluted)
Public Float: 32M shares (Approx.)
Institutional Ownership: 26%
Insider Ownership: 34%
52 Week High: $0.52
52 Week Low: $0.13
Current Price: $0.21
Market Cap: CDN $10.0M (January 12/2006)
Offer dropped :(
LOL :)
It is real quiet now :(
A trade with minutes to go. Could be a good week next week.
CMBV - About to pop........bid has jumped and volume is picking up
CMBV - Bid is up and volume is picking up
UPDA ------ STRONG BUY 42% up ............. easy TO 100%
UPDA ------ STRONG BUY RSI STRONG BUY
Crude Oil Production From Single Canyon Creek Well Increases to 1000
Barrels -- Results From Well Revitalization Program Continue to Exceed
Expectations
Canyon Creek Oil & Gas Inc. (CCOG) (a joint venture of Universal
Property Development and Acquisition Corporation (OTCBB:UPDA) and
USProduction & Exploration, LLC. (USPX), a privately held Company) continues
to increase its production of crude oil from the Archer County Regular
Field. Production hit another high today as the #1 Block Estate Well
continues to increase its daily output of crude oil. Canyon Creek
initially pumped its #1 Block Estate at a rate of 450 bopm. The company
reported earlier this week that oil production from the well had increased
to 600 bopm. Production from this single well has now jumped to 1000
bopm and Canyon Creek will continue to monitor the well and report further
increases. Canyon Creek is currently producing 1,350 bopm from 1 of 8
producing wells at its Archer County Regular Field, 4 of 12 producing
wells at the Hagler Capps Lime Field and the wells in the South Markley
Field. Oil production from these three areas will continue to show
increases as Canyon Creek brings new wells into production and
commences its water flood procedures. In addition, as previously reported,
Canyon Creek recently moved a rig to its #1 Roberts Unit well located in
Inez Field, Victoria County, Texas. This well, soon to be brought on
line, when initially completed, flowed at the rate of 80,000 mcfg/m and
2000 bopm according to Railroad Commission of Texas production records.
Due to the tremendous amount of gas and pressure encountered at the
surface upon commencement of operations, the Company decided to change
over to 16.2 lb. mud to control the well. Operations are currently
underway to pull the tubing to make way to squeeze the 5" casing. Petroleum
Engineers International is providing a full-time engineer to monitor the
re-entry operations for Canyon Creek. About UPDA Universal Property
Development and Acquisition Corporation (OTCBB:UPDA) focuses on the
acquisition and development of proven oil and natural gas reserves and
other energy opportunities through the creation of joint ventures with
under-funded owners of mineral leases and cutting-edge technologies.
For additional information visit: www.universalpropertydevelopment.com.
About CCOG Canyon Creek Oil & Gas Inc. was formed in July 2005 as a
joint venture corporation for the purpose of acquiring currently
producing oil and gas properties, low risk drilling prospects and existing
wells in need of state-of-the-art technology to improve profitability.
Canyon Creek Oil and Gas Inc. now has over 60 wells located on more than
2,000 acres in the Fort Worth basin. The Company has also acquired
properties located in Inez Field in Victoria County and Giddings Gas Field
in Fayette County, Texas. Canyon Creek continues a revitalization
program on all of its properties in order to improve production and bring
more wells on line.
TRBY.OB Got news Thursday, here is a link:
http://biz.yahoo.com/bw/060105/20060105005774.html?.v=1 It drew 2.4m
and hit a high of .042, many people watching for little torbay to make
a big move. After all they do have the patent for the only buy
accessible mouse to government employees. (
http://www.section508.gov/index.cfm?FuseAction=ProductDetails&id=1497 )
Today should be a good day to add or take a position, I do not see it
moving too far in either direction. Next week volume should pick up,
and I think we head towards new support around nickle.
Any thoughts here ?
CMBV :)
CMBV .........bid moving up
CMBV starting to bounce
Breaking News...anti-cholestoral drug....This will be huge!
AP
Avanir Gets First AstraZeneca Payment
Avanir Pharmaceuticals Gets First AstraZeneca Milestone Payment for
Cholesterol Drug
SAN DIEGO (AP) -- Drug developer Avanir Pharmaceuticals said it will
receive a $5 million payment from British drug maker AstraZeneca PLC
now that an early stage clinical trial on a novel cholesterol drug
has started.
The agreement between the companies, which began in July with a $10
million upfront payment, entitles Avanir to up to $330 million in
milestone payments for the development of a reverse cholesterol
transport drug that pulls cholesterol from tissues and into the liver
where it can be transported to the gall bladder and out of the body.
The $5 million payment was the first milestone received under the
agreement.
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Will Google Grab Bill Gates' Billions?
By Computing, Investing-News.Com
Nov 16, 2005, 22:19
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Congratulations to those eagle-eyed readers who spotted our subtle attempt last week to bring hyper-rich Bill Gates back down to the lesser financial expectations of the merely rather wealthy (Computing, 10 November).
'Has Dear Bill succumbed to a phishing attack?' asked Keith Barlow (see Letters, page 27), after reading that Microsoft's founder is, according to Computing (well, me to be precise; someone has to take the blame), down to his last $50m (GBP28m).
'I'm sure I've given him that much over the years myself. What's he done with the rest?' wrote Mike Casey.
Bill's admirers need not worry; we're pretty sure his estimated $50bn bank account hasn't been overwritten by an amusing typo.
But what an interesting question Messrs Barlow and Casey raise. Just how could Gates' fortune drop by a factor of a thousand? And will Google be the culprit?
Too many experts are obsessed with the rise of the search firm and its impact on the world's most successful software company. Gates is clearly fed up with being asked the question.
But is Google the new Microsoft? In marketing terms there are certainly parallels. In the late 1980s and early 1990s Microsoft was the disruptive force in the industry; its aggressive drive to provide high-volume, low-cost software for all nearly destroyed the market leader, IBM. Redmond rode the wave of PCs around the world as IBM stuck to its ailing mainframe business model. And now that everyone is surfing, Google is trying to do the same thing to PC software.
Gates rightly points out that Google doesn't compete in the majority of sectors that Microsoft does: development tools, productivity software, server software and so on. But Microsoft didn't compete in mainframes, server hardware, corporate networking or many of the areas in the old IBM, and Big Blue still lost some $5bn in one year – which, at the time, was the biggest loss in corporate history.
Google is challenging people's expectations, just as Microsoft once did. Back then, Windows made people wonder why they had inflexible, expensive, green-screen systems. Now, Google wants people to question why there are gigabytes of costly software on a PC when the browser and that little white search box provide access to much of what the average user is ever likely to need.
Google is certainly asking questions of Microsoft – but it would be naive to think that a company with one of the world's biggest research and development budgets is not capable of responding.
The launch this month of Microsoft Live, a suite of online versions of Windows-based software, is only the beginning. It has the feel of a tactical response more than a strategic push.
The wider strategy rests on the principle of online software, something that Microsoft has been promoting with varying degrees of success through its web services initiatives for several years.
Statements from Gates suggesting that Windows Live is a milestone in the history of the web are simply designed to push Google out of the headlines.
While the Live initiative will offer benefits for some – mainly small businesses – much of it is about trying to capture a share of the advertising-funded 'free' software market that Google dominates. Few large businesses will be interested, although future announcements may be focused on the corporate market.
Gates is also fond of calling Google a 'me too' company, something his detractors would claim for the early Microsoft. Didn't Apple do Windows first? Wasn't WordPerfect around long before Word? Novell before NT?
The biggest lesson from Google for IT directors has little to do with the future of Microsoft. The search engine's success shows the value of simplicity – that easy-to-use white box that brought the web to life for millions of technophobes.
Google shows that IT users worldwide are demanding the end of complexity; they want to use technology and the web, but on their own terms, not in ways dictated by technical specialists. Corporate and government IT strategies will have to respond.
But will Google take a chunk out of Bill's billions? The parallel from Microsoft's youth is equally relevant. Everyone can remember how Microsoft gave IBM such a bloody nose. But who is comfortably the world's biggest IT company today? Well, that would be IBM.
Copyright (c) 2005 VNU Business Publications Ltd.
Source : Financial Times Information Limited (Trademark)
11/16/2005 12:40:57 PM [COMPUTING]
~~~ Applying Knowledge To Knowledge ! ~~~ ~~~ What To Look For !
~~~~~~ [ Opens in a NEW WINDOW ]
I think the stock will drift higher.
What si the latest from the company??
I think its is in the process of coming back. Good bounce off of .0004.
Good volume today. :)
OTC Stock Review: Always Looking for the Next Winner.
November 30, 2005
Greetings!
Do you want stock market profits? Then get on board our Growth-Stock Bonanza! November 07, 2005, we gave you Sunwin International Neutraceuticals Inc. (OTC BB: SUWN) at $0.16 Last week, the stock traded through $0.25 on heavy volume. The company has had a plethora of news including their updated acquisition strategy and business plan. A whopping 56% return in 3 weeks!
On Novmber 5, 2005, we gave you Global Beverage Solutions (OTCBB: GBVS) at $0.58 GBVS traded at $0.90 today and looks like it is going higher! A 55% return in a month!
Avalon Oil & Gas (OTCBB: AOGS $0.02)
So, what's next? Get on board our latest undiscovered gem, Ava lon Oil & Gas (OTCBB: AOGS $0.02). AOGS traded to over $0.05 in October when oil prices were making record highs. Many experts agree the recent correction in oil prices is short lived and oil stocks are attractive at these levels.
Here is why We Like Avalon Oil and Gas at these Levels.
The reason we like AOGS is that it is a pure play on the oil and gas business. The company acquires low risk, low cost oil and gas properties, specializing in shut-in wells and pre-maturely abandoned wells with proven remaining recoverable reserves. By applying new, cost efficient well stimulation and completion technologies, AOGS is aggressively positioned to produce oil and gas, generate long-term stable cash flows from these properties, and expand their production base.
These properties provide low-risk in-field re-entry locations and the opportunity to expand production within a proven oil and gas field. To date, properties have been acquired and work has commenced in Kansas and Oklahoma. AOGS is actively seeking additional acquisitions, some of which are planned by year end.
Stock market profits like these are not always so easy to identify!
Visit the Avalon Oil and Gas Website
Oil wells in Kansas and Oklahoma
AOGS owns an eighty percent (80%) Net Revenue Interest in certain oil and gas leasehold interests located in Montgomery County, KS. This leasehold interest has 110 existing shut-in wells and 220,000 barrels of proven reserves. In its first month of operations, Avalon is producing ten (10) barrels of oil per day (BOPD) from eight (8) wells, and intends to re- complete fifty (50) more wells in the near term, and an additional forty (40) wells by March 31, 2006. Initial production from each well will range from 2 BOPD – 10 BOPD and 25 cubic feet – 300 cubic feet of gas per day. The cost to re-complete each well is $7,500. You can do the math yourself with oil at $65.00 a barrel!
AOGS also owns 2,400 acres in the Sooner Trend Field, Canadian County, OK. The leases are adjoining producing leases operated by Chesapeake Energy (NYSE: CHK) and Dominion Resources (NYSE: D). This leasehold has multiple previously drilled and pre- maturely abandoned wells of which at least 20 have been identified for re-entry using cost efficient directional drilling technologies. Based on drilling logs, historical production records, and cumulative production from offsetting wells, management believes the potential production per well could reach 25,000 Barrels of Oil and 500 MMCF of gas. Avalon estimates the cost to drill each of these locations to be $700,000, and is planning to joint-venture finance the re-entry of these wells. Avalon is in negotiation with several JV partners, and is is currently evaluating additional producing leases in Oklahoma and Southern Kansas.
We only need to look at the Forbes 400 to see the real wealth the high price of oil is creating!
Take a look at our coverage on AOGS
Avalon Oil and Gas Management
AOGS CEO and founder Kent Rodriguez has first hand experience in being the driving force of several small companies. A seasoned and experienced commercial banker and venture capital investor, he has an extensive background in analyzing business opportunities. Crown Exploration, Avalon’s Joint Venture Operator, is an independent oil and gas exploration and production company, has a full-time staff of 20 with expertise in geology, engineering, land and accounting. Crown’s contacts in the field are one of the keys to Avalon’s success. Crown’s staff geologist Charles Crawford is highly knowledgeable of Avalon’s present and prospective Kansas and Oklahoma properties
Oil will reach $100 per barrel next year, Michael Economides, professor of petroleum engineering at the University of Houston, told CNBC's "Morning Call." And before you dismiss that prediction, realize that a just over a year ago, Economides predicted crude oil would be at $65 per barrel.
The best time to buy a sailboat is in the middle of the winter and the best time to buy oil stocks is before oil prices make new highs.
OTC Stock Review is not a Registered Investment Advisor or a Broker/Dealer. The information in this newsletter is not an offer to buy or sell securities of the companies profiled. Information is for informative purposes, not intended as investment advice, and is subject to change without notice. OTC Stock Review has been compensated $10,000.00 to perform investor relations services for Avalon Oil and Gas, Inc. The information in this report was provided by Avalon Oil and Gas, Inc. Officers, directors, and employees of OTC Stock Review, may hold a long or short equity position of a profiled company and may from time to time trade in these securities for their own accounts. Information on each company is from public releases and can not be guaranteed by OTC Stock Review. Companies profiled herein may carry a high investment risk; readers should carefully review the profiled companies thoroughly with their investment advisor, stockbroker, or other such professional. OTC Stock Review is not liable for any investment decisions by its readers or their advisors. Any analysis contained herein does not purport to be a complete analysis of the profiled Companies. Reader’s are encouraged to obtain copies of the profiled Company’s periodic reports filed with United States Securities and Exchange Commission which are generally available at http://www.sec.gov.
Sincerely,
OTC Stock Review
--------------------------------------------------------------------------------
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Two Short-term Trading Rules
By William McKinley, Investing Systems, Inc., Investing-News.Com
Nov 26, 2004, 17:50
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Buy One ~ Give One Free
Investing Software Package
Stock Trading System
For Long-Term Investors.
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Buy Low & Sell High!
Recently, while webcasting our radio program, Market Toolbox Live, I received the following email:
"I am just starting out swing-trading without a lot of money. I want to know how much is the minimum amount I can trade on a stock and how to manage my starting capital. I also want to learn how to prevent losses since I am new to trading."
These are very good questions. To help explain some basic concepts of trading, risk, and money-management, let?s compare short-term trading to playing poker.
Between the time I sit down to play (purchase shares of a stock), and the moment I see all hands (sell my stock), events will occur that will affect my outcome as a gain or loss. In poker, unforeseeable (random) events include the cards that are dealt and the amount the ?ante? (my cash at risk) may be raised by other players. In short-term trading, the central event of interest to me is whether my stock?s share price will rise, or fall. Unforeseeable factors that may affect that include such things as rumors, breaking news, institutional activity, etc.
Preparing To Play
In light of all of this uncertainty, my key concerns, whether as a poker player, or investor, are: "What can I know"? And,"To what degree can I exercise some control over risk"?
If I'm sitting at a table playing poker with four friends, I know the probability of a winning hand is one in five, or only 20%. Assuming comparable skills, this never changes (regardless of the number of hands I win or lose-successively, or otherwise). At least in short-term trading, my odds get better, one in two-50%, up or down.
I know I'm not likely to win every hand dealt. The more hands I play, the more I'll accumulate an increase in the number of lost hands. Likewise, if I'm going to make a habit of short-term trading, I'm going to accumulate numbers of lost trades.
Playing poker requires that I "ante up,"-risking the amount of cash I could lose-before cards are dealt; this can only increase during play, as others "raise the ante" required of me to stay in the game and play out any chance of winning. In short-term trading, my share of the ante (my cash at risk) can increase (share price drops) or decrease (share price rises), but the final result will not be known, or established, until my stock is sold. My gain, or loss, is calculated as the difference in share price (from the "buy" price) times the number of shares traded minus commissions.
When short-term trading, I can exercise some control over risk by observing a couple of simple trading rules. This entails pulling out my calculator, or opening my spreadsheet, and crunching the numbers according to a plan mapped out in advance. This plan includes the amount of capital I'll tie up in the trade, how much I am willing to lose, and the correlated "stop loss" stock price at which I will tell my broker to sell at market to get out of the trade. Thus, the key to success with short-term trading lies with position sizing and the placing of stop-losses on every trade.
(Flexible) Trading Rule #1 - Size your share trading position: 20% to 35% of available cash, inclusive of commissions.
As a rule of thumb, I seldom invest more than 20-35% of my available cash (or, bankroll) in any given short-term trade. This represents a cash range within which I can size my trading position, i.e., it limits the numbers of shares I can purchase at a selected share price. For example, I have a $10,000 bankroll in my cash account, my first step is to calculate a position worth roughly $2,000 to $3,500 on the first trade, inclusive of buying and selling commissions (say, $10 one way). If the stock I'm placing an order for currently sells at $30 per share, a position size of 100 shares will keep me within my range. If I have good information on a stock, I'll push the number of shares to the high side:
$3,500 - $20 (2-way commissions) = $3,480 / $30 ≈115 shares
If I want to be conservative, I can keep the numbers of shares toward the low end:
$2,000 - $20 = $1,880 / $30 ≈ 60 shares
As my bankroll increases, my position sizing range will increase. I can purchase more shares (stock of similar price) on my next trade and, thereby, stand to gain (or lose) more with price movement. If, however, my bankroll decreases, I'll have a smaller bankroll; my position sizing range will decrease; and, I'll be able to purchase fewer shares on my next trade-unless I'm able to find stocks of lesser share price (which segues into "stock-picking strategies," and that is the subject of a future column.)
"Playing My Hand," or In The Trade
Once I've looked at my cards (my order to purchase has been filled): If my hand is good (the stock price is climbing), I may stay in to see if I can increase my gain by raising the ante (increasing profit, by staying exposed to momentum reversal). If my hand is questionable (the stock price is dropping mildly), I can stay in the game and trade-in a number of cards to seek a winning hand (banking on momentum reversal to the upside). If my hand is bad, I can fold because others are upping the ante (sell the stock because its share price is dropping precipitously) and I must conserve my bankroll - in order to play the next hand. The sooner I quit a bad hand, the more bankroll I'll have left to play new ones.
Where much time and energy has been spent on looking at cards (or watching stock price fluctuations), and trying to determine whether to ride with it, or fold, the success of the game is ultimately determined by the size of the bankroll one has when leaving the table.
Novice poker players can be fooled by the bluffing of more experienced players. And novice traders can get too closely involved in watching their stock's price movements, and reacting emotionally. In both cases, each may lose with what would have otherwise been winning hands. New traders, particularly, fail to learn broader money-management strategies that, when applied to their trading, will mitigate risk, minimize losses, and enhance gains.
When To "Fold," or Sell At Market
I personally will never lose more than 5% on my position in any trade?ever. (In fact, I prefer 2-3% for the most part.) And, I would strongly advise you not too, either. Repeat after me: "I will never lose more than 5% on my position in any trade, ever." This brings us to the most important?thus, inflexible?rule of trading:
(Inflexible) Trading Rule #2 - Set your Stop-loss. Specify a tight stop-loss, or standing "sell at market" price, at no more than -5% including commissions.
Just like finding myself with a bad hand in poker, once my trade's share price drops to the stop loss price, I'm stopped-out, and a sell-at-market order is executed. While I've lost my ante, the stop-loss order has gotten me out of a trade before disproportionate further losses - from which I may find it difficult to recover - can be incurred.
(You must actually set your stop loss with your broker; don't keep it in your head. Physically place the stop-loss order with your online broker so there is no chance you will change your mind. Your emotions are your worst enemy, and it is imperative to calculate all the details of your trade in advance and stick to your plan once you are in the trade. Setting the stop-loss, and permitting it to execute without interference, will protect you from holding a stock like Lucent Technologies from $40 to $2; it will protect you from ever holding a CMGI from $140 to $1.40.)
There may be times when I prefer setting the stop-loss at about 3%, if my information on the stock is less than I normally would desire. This permits me to balance the increased risk, losing only my "lunch money" if the stock goes down. But setting it less than this may not permit a reasonable volatility variance, and I'll get stopped out too soon. Looking at our initial example, above, our effective stop loss was -4.33% (decline) from purchase price, which took the cost of commissions into account:
Set your "stop-loss" share price - a standing order to "sell at market."
With my bankroll reasonably intact, I can get back in the game. Of course, I'll need to make 5.3% on the next trade to get back to even, but that is acceptable.
Where your trades are moving positive, let the stock price rise, and simply move the stop-loss up as the stock goes up. Using the above example (-4.33% stop-loss, or 96.67% of current share price), and demonstrating the profit/loss differences between initial positions of 100, 500, and 1000 shares, we set up a simple spreadsheet that forecasts sliding the stop-loss with every 3% increase multiple from the original purchase price.
In strong upward trends, plan to slide the "stop-loss" to protect gains.
Setting up such a spreadsheet is relatively simple. You can establish a sliding schedule that suits your own trading style. Always be ready to get stopped-out and "lose your ante," however, and get your money back into your account so you can go on to the next trade. (Alternatively, good stock trading software can assist you, here.)
The Next Trade
Let?s look at probability afresh. No matter how many trades we make that have the same outcome in succession, the belief that an opposite outcome is more likely on the next trade (greater than 50-50) is called "The Gambler's Fallacy." If, however, we accept the unlikely occurrence of 5 straight losses followed by 5 straight winning trades (using the previous selling price as the next purchase price in both cases), how do we fare?
Determine what constitutes an adequate share price appreciation.
On the last 5 trades where share price appreciation compounds at 4.33% on each trade, we're still in the hole because of commissions. At 6.50% appreciation on each, we've got some profit to show for our work - good profit at higher share positions. However, at lower share positions, we make better progress at a share price appreciation of 8% and above. Like in poker, the amount of money on each of the 5 hands we win will vary, but hopefully one of them will be a full-house, big-pot, or 30% gain on our trade. That's where our real money is made.
Since we know we'll risk 3-5% on any given trade, over the long term any winning trades demonstrating share price appreciation exceeding 6.5% will accumulate gains (all share positions being averaged), though, theoretically, we do not know for certain what minimum number of trades are required to realize the gain. But, using only a small sample of 10 trades, normalized for distribution, the logic of using tight stop-losses and good money-management is demonstrated.
Keep in mind: We could have eight straight wins, and we would be no less likely to have a win or loss on the ninth trade than on any other trade. It is important to bear this in mind, especially when we find ourselves in trading streaks. The truly successful investor does not gloat with many wins, nor despair with many losses. The successful investor strives only to stay focused, increase analytical skills, and learn more about tools that can assist this analysis and sway the odds in his/her favor.
Conclusion
Poker, which has been around longer than the stock market, is experiencing a resurgence of players in casinos throughout the country. This is due, in large measure, to cable television's promotion of the World Championship of Poker, and special matches of attending / playing celebrities.
But, as we've seen here, the odds of making money "playing the market" are far better than with playing poker. I'll continue to play poker for entertainment while trading stocks to make money. And, with each trade, I'll continue to use these simple rules of position sizing, and stop-loss placement, to help tilt the odds in my favor and prevent any trade from doing irrevocable damage to my overall trading account.
My hope for you as a new trader is that you get stopped out of every single trade you make - most of them with a nice healthy profit!
William McKinley is President of Investing Systems, Inc., Amelia Island, Florida. Bill is senior software development consultant for Investing Systems, Inc. He is a longtime investor and avid student of markets and stock trading software. Bill can be reached at W.McKinley@investing-systems.com.
SUR..........OX........CBP........LBE :)
Breaking News Alerts!
Big News Expected Tuesday Dec 27th
Value should climb quickly! Be ready for the ride of your life, as you can see so far
KOKO Petroleum Issues Update on Drilling Projects in the Barnett Shale and Corsicana
KOKO Petroleum, Inc. to Participate in Barnett Shale Drilling Program
Petroleum and natural gas production in the Barnett Shale play has been increasing steadily year after year. This is by far one of the most active and prolific gas fields in America right now and as such is garnering a lot of attention all the way from the oil patch to Wall Street. The group that we have joined in this Barnett Shale drilling program is affiliated with one of the major stakeholders in the area with scores of wells already in production. We are very confident in their proven ability to locate the best drilling sites in the area and to efficiently tap the vast gas resources held in Barnett Shale. This project is one of several next steps in KOKO Petroleum's ongoing program to build a diverse portfolio of promising oil and gas properties and prospects. We plan to continue pursuing other promising prospects that should help us build a diverse portfolio with long-term value for our shareholders," says Mr. Ted Kozub, Chief Executive Officer of KOKO Petroleum, Inc
The Barnett Shale is the largest natural gas play in Texas. It is presently producing 900 MMCF of gas per day and is considered one of the largest U.S. domestic natural gas plays with sizable, remaining resource potential. The first Barnett Shale wells were drilled and completed in the early 1980s by Mitchell Energy of Houston, Texas. According to an in-depth 2004 sector report on the Barnett Shale, developed by Morgan Stanley , the Barnett Shale play is estimated to hold reserves in the non-core area that could be as high as 150 BCF per 1,000 acres. The report estimated that because of the amount of gas available in the area, successful wells in the Barnett Shale should be economically viable in almost any gas price environment. There are 75 rigs currently operating in the area.
KKPT is getting ready to break out. We recommend this as a VERY strong buy.
Gold in Nova Scotia
by Jennifer L. E. Bates
Nova Scotia Department of Natural Resources, Mineral Resources Branch, Information Series ME 13, 1987.
Table of Contents
Introduction
The History of Gold Mining
Mining and Extraction of Gold
Early Mining Methods
Extraction Methods
Occurrence and Distribution of Gold
Geology of the Meguma Group
Meguma Group Quartz Veins and the Hypotheses of Formation
Quartz Veins
Hypotheses for Formation
Present Exploration and Future Trends
References
Additional Reading
Glossary
Appendix - Do-It-Yourself
Acknowledgments
Back to Top
Introduction
In recent years, Nova Scotia has witnessed a resurgence in gold exploration. The public has responded with a request for a general information document on gold in Nova Scotia. This booklet has been written as an answer to this request. In contains brief descriptions of the history of gold mining in Nova Scotia, mining methods, occurrences and distribution of gold in the Province, production figures, and the geology and theories of ore formation of the gold deposits. a glossary of terms that may be unfamiliar to the reader is included in the booklet. Anyone wishing to obtain additional information on gold in Nova Scotia is encouraged to do so and may begin by referring to the Do-It-Yourself section at the end of the booklet.
Back to Top
The History of Gold Mining
There are probably not many of use who have firsthand accounts of the gold rushes in Nova Scotia, but maybe we can remember stories told by a grandparent, an older relative or perhaps an old prospector. The gold rushes have played a significant role in the history of many towns and villages in the Province and, for many Nova Scotians, gold mining is a distinct part of their heritage.
Gold may have been sighted as early as 1578 when the explorer Sir Humphrey Gilbert was given a patent to search for gold and silver in the New World. As well, French settlers may have found gild, as indicated by the village names of Bras d'Or, Cape d'Or or Jeddore (Jet d'Or). However, no ancient workings have been discovered to prove such suspicions.
Gold sightings were not referred to again until the 1830s. Labourers building roads in Nova Scotia spoke of a "bright yellow metal in the stone." These first 'discoverers' did not realize their good fortune and actually whittled the gold with their knives during mealtimes! An unidentified captain of the Royal Welsh Fusiliers was said to have panned gold at Gold River in 1840. In 1849, W. Brooks,1a farmer from Lawrencetown, claimed to have found gold in quartz while repairing a dam on his land but his farther gold him to "drop his nonsense, go on with his work and pitch the rubbish away".2Eleven years later, gold was discovered by Brooks who had been encouraged by recent discoveries at Tangiers. The area was declared the Lawrencetown gold district!
In 1857, unofficial discoveries were made by Richard Smith of Maitland who obtained gold from a river in the Musquodoboit settlement and by John Campbell of Dartmouth who 'assayed' the sands at Fort Clarence in Halifax Harbour (where the oil refinery stands today) and obtained a 'good show' of gold .
The first authenticated discovery of gold in quartz was made in 1858 by Captain L'Estrange at Mooseland.1However, he received no encouragement to continue his efforts. Within two years a farmer from Musquodoboit, John Gerrish Pulsiver, began a search in the same area of Mooseland. One the last Thursday or Friday in May 1860, Pulsiver found gold in a quartz boulder and thus initiated the first gold rush in Nova Scotia.
After the declaration of the Mooseland gold district in April 1861, other discoveries along the Eastern Shore were quick to follow in the next half year - Tangier, Lawrencetown, The Ovens, Wine Harbour, Sherbrooke (Goldenville), Waverley, Country Harbour, Isaacs Harbour, Isaacs Harbour and Gold River. Buildings were erected 'overnight' and the miners and their families moved into the new settlements.
Most the early claims were staked by people with no knowledge of geology or mining. Those who staked claims in the winter hoped there would be gold nuggets for the picking when the snow had melted. Reality did not meet with their expectations and initial claims were dropped only to be staked by companies that were able, financially and technically, to undertake the work.
John Campbell, who had observed gold on the shores of Fort Clarence, ventured to Lunenburg and worked the beach sands at The Ovens with William Cunard, Esq. of steamship line fame.3Campbell believed the sands of Sable Island contained gold but when he applied for a license, the government offered very confining terms and he was forced to abandon any idea of panning the sands.
Gold production increased as a result of the expansion in exploration to new areas located south and west of the Eastern Shore. The highest yield of gold was 27,538 ounces (780 702 g) in 1867. However, poor mining methods, bad management and incompetency led to the decline in production in the early 1870s. By 1874, the output had dwindled to 9,140 ounces (250 119 g).
The miners had no means of predicting where additional ore zones could be found and production decreased once the most accessible and richest zones had been worked. get-rich-quick schemes had been the order of the day, money earned had been squandered and no funds remained for further exploration.
However, companies that were unable to raise the capital for gold ventures would lease their property for a return payable in gold mined to individuals called tributers. This working relationship between company and the individual tributer was called the tribute system. Although profitable to the single operator, the gold yield remained low.
The second gold rush extended from 1896 to 1903 with the highest yield of 31,113 ounces (882 054 g) in 1898. The introduction of dynamite for blasting, the use of cyanide in the concentration process, and more efficient machinery and mills permitted bodies of lower grade ore to worked. Much attention was given to improving the concentration process and the treatment of tailings, with the intention of increasing the gold yield. Unlike the first rush which was a time of frenzy and speculation, this renewed quest for gold was a time of calm, organized exploration.4
In the late 1890s, the Klondike gold rush, in combination with the opening of the mining camps in Ontario, conjured dreams of 'easy gold ' in the minds of the workers. The result was a movement to the west, with a corresponding decline in gold production in Nova Scotia.
The demand for arsenic in the 1920s initiated exploration for arsenopyrite - a mineral associated with the Nova Scotia gold deposits5 - and thus renewed the search for gold. This fact, along with cheap energy costs and an increase in the price of gold (US$20.67 to US$34 per ounce), created an impetus for Nova Scotia's third gold rush. The rush spanned ten years (1932-1942) and 158,000 ounces (4 479 300 g) of gold was produced.
Although classified as a base metal operation and therefore termed a god producer rather than a gold district, the Stirling Mine on Cape Breton Island produced between 1952 and 1956 the majority of the gold (at least 95%) from Nova Scotia gold mines. The deposit was discovered about 1895, diamond-drilled from 1916 to 1918, developed during the 1920s and 1930s, recorded an initial gold production of 3,401 ounces (96 418 g) from 1936 to 1938, and produced 13,280 ounces (376 488 g) of gold in total from 1952 to 1956.
What may, in time, be considered the fourth gold rush began in 1972. The resurgence of gold exploration was encouraged by the rise in the price of gold (to ~US$820 per ounce!) in the early 1980s. a number of companies staked claim with the idea of working the tailings or old underground mine sites, or prospecting for new leads. Today, the search for gold continues and the future outlook for Nova Scotia gold is optimistic.
Photos: (not presently available)
Miners outfitted for underground work in the mine at the Waverley gold district, Halifax County (ca. 1915).
John Gerrish Pulsiver.
The discovery of gold in quartz at Tangier (Mooseland), Halifax County, Nova Scotia, May 1860.
From a posed studio photo by W. Chase.
Courtesy of the Public Archives of Nova Scotia.
Underground at the workings of the Dominion gold mines, Waverley, Halifax County.
Share certificate issued from the Caribou Gold Mining Company for Caribou Mines in Halifax County on September 14, 1894.
Interior of the milling house of the Lacey gold mine at Gold River gold district in Lunenburg County, Nova Scotia, 1934. The conveyor (top) brings rock to the surface where it is crushed and then treated in the amalgamation tray with mercury to separate the gold (foreground).
Native Waverley tributers (George, Lawrence and Lewis Sailer) mining at Laidlaws, Waverley in the spring of 1933.
Mining facilities at the Montague gold district.
Mining operations at the Moose River gold district.
Figure: (not presently available)
The quantity of gold produced in Nova Scotia from 1862 to present day. The suspected caused for particular peaks and troughs are indicated on the graph.
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Mining and Extraction of Gold
Early Mining Methods
The early findings of gold were in quartz boulders and quartz veins. The first workings were confined to excavation of surface quartz veins and trenching.
Extraction of gold involved the physical separation of the quartz from the surrounding slates and greywackes, and crushing of the quartz to liberate the gold. Picks, shovels, and muscle were the only tools.
The first underground gold mine was established at Tangier in 1860. The quartz ore was brought to the surface and crushed in an arrastra, which operated on the principle of grinding the quartz with stones and concentrating the gold with mercury.
The use of arrastras gave way to the use of more efficient crushers and stamp mills. The stamp mill consisted of a number of vertically placed iron or steel rods that were lifted 10 to 18 inches (25 to 45 centimetres) and dropped, by mechanical means, on the quartz at a speed of 50 to 80 drops per minute. One stamp was able to crush one ton of quartz in 24 hours.6Stamp mills usually were set up in batteries of three to five stamps. Crushing capacity could be increased by adding more batteries.
Another early apparatus was the Chilean mill. Massive wheels of granite revolved, on edge, in an iron pan crushing the quartz ore to a gritty, watery paste. This type of mill can be seen today at The Ovens Park in Lunenburg County.
The cost of power was high in the 1800s and it probably retarded the mining development. Cordwood or coal was used in highly wasteful steam plants. In some districts, waterwheels were utilized but the amount of energy produced was small.7
Photos: (not presently available)
Photo of front page of "the Gold Gazette", July 26, 1862. Courtesy of the Public Archives of Nova Scotia
Gold washing at the Ovens, Lunenburg County.
Drawings: (not presently available)
An arrastre: the movement of a large stone attached to a wooden arm crushes the ore.
A five-stamp mill.
The Chilean mill: wheels of granite move over the crushed ore liberating the gold .
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Extraction Methods
The gold extraction methods used in the early workings were wasteful. At the time, it was believed that in a few districts at least 30 per cent of the gold was left behind in the tailings.4The yield of gold from crushed ore depended greatly upon the size and visibility of the gold. When the quartz ore was brought to the surface, water was splashed on it and only if visible gold showed was the rock sent to the crushers! Undoubtedly, significant quantities of gold were sent to the tailing piles. Only the larger pieces of gold were extracted and much of the fine gold was lost in the crushing or concentrating process.4Consequently, the tributers who worked the tailing in later years often found their efforts were rewarded.
There are three methods of extracting gold from crushed ore which have been in use since the early gold rushes: gravity separation, amalgamation and cyanidization.8Chlorination and ore roasting were attempted in early mining days but proved to be less efficient and therefore were not continued.
Gravity separation is the physical separation, based on weight differences, of gold from its impurities. Water is added to be crushed ore in a gold pan, a sluice box or a jig. The slurry is manipulated in a matter (i.e. swirled or shook) that causes the heavier gold to collect on the bottom surface of the apparatus.
Amalgamation involves the 'dissolving' of gold in mercury. Mercury is added to the crushed ore and the free gold (gold physically separate from the impurities) is absorbed by the mercury. In one method, the gold -mercury mixture (amalgam) is first placed in a leather bag which is squeezed to remove the excess mercury. The amalgam is then heated in a closed system to evaporate the mercury. Lastly, the gold is melted into a saleable form.
In the 1880s, cyanidization replaced amalgamation as a more efficient means of extraction. In this method, crushed ore is dissolved in a mixture of lime and cyanide. The unwanted solids are removed by filtering. Zinc dust is added to the liquid, which causes gold to settle out of solution. Cyanidization is the most widely used gold recovery technique used in Canada and is the basis of the modern heap leaching process. Leaching solutions are poured over piles of crushed ore, and then collected and refined to extract the dissolved gold .
Figure: (not presently available)
The extraction process of cyanidization.
Drawings: (not presently available)
Gold panning: probably the first of the early mining methods.
Cradle or rocker box: the function is very much like that of the sluice however it uses much less water.
Figures: (not presently available)
Side and top views of a riffle section of a sluice (upper) and a close-up of the various styles of riffles (lower); a sluice is generally placed directly in the stream for greater ease when working the auriferous material.
The extraction of gold from unwanted material using the process of amalgamation and a closer look at the final steps of the mercury process of gold extraction where the amalgam is heated in a retort bringing about the separation of gold from mercury.
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Occurrence and Distribution of Gold
In Nova Scotia, gold occurs as vein (lode) deposits and occurrences, modern placers, paleoplacers and as disseminated gold in various rock types.
The vein or lode deposits are predominantly associated with the Meguma Group slates and greywackes of the southern mainland although occurrences do exist in Cape Breton Island and the Cobequid Highlands. Virtually all of the established gold districts are vein deposits in the Meguma Group rocks.
Modern placer gold accumulates in beach or river sediment as a result of the erosion of gold -bearing rocks and accumulation of gold due to wave action or current motion. These deposits were among the first to be worked in the early gold mining days as they were accessible and easy to work. Modern placers are associated with beaches and rivers at numerous locations within the Province.
Paleoplacers are placers that were formed millions of years ago and the once unconsolidated sediments are now solid rocks. The paleoplacers, found on the southern mainland, occur in Horton Group conglomerates of Devono-Carboniferous age. Erosion of paleoplacers and redistribution of the gold by modern rivers and oceans may result in the formation of reworked placers.
Gold as disseminated particles is present in various types of igneous, sedimentary and metamorphic rocks. Sightings have been noted in slates and greywackes of the Meguma Group, sedimentary rocks of the Horton Group, granites south of the Cobequid -Chedabucto Fault, volcanic rocks of the Cobequid Highlands, and metamorphic and igneous rocks of Cape Breton Island.
Photo: (not presently available)
A mining operation at Gold River.
Figures: (not presently available)
Two sketches showing the environments in which gold may be found.
Areas where gold particles may accumulate:
boulders, bedrock outcrops and gravel bars at the bends in streams;
the lee side of boulders and widened areas downstream of rapids where the velocity of the stream has decreased.
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Geology of the Meguma Group
Virtually all the declared gold districts are vein deposits in the Meguma Group rocks of the southern mainland. a brief summary of the geological history of the rocks and the hypotheses concerning the formation of the quartz veins that host the gold will be given in this and the following sections.
The Meguma Group is a six to nine mile (10 to 14 kilometre) thick, folded complex of slates and grey wackes. The greywackes were originally sands deposited over 500 million years ago as turbidites (underwater landslides) on an ancient continental rise. The slates were clays deposited predominantly on the ancient continental slope but as far offshore as the deep sea.9The gold-bearing veins associated with the Meguma Group are composed of quartz. a number of theories exist concerning the origin of the quartz and the gold.
The ancient marine environment where the clays and sands were deposited was positioned off the coast of northwestern Africa. It was similar to the present-day Atlantic margin of North America. Due to continental drift, Africa and North America 'collided' approximately 400 million years ago along the line of the Cobequid - Chedabucto Fault. In a general sense, this event resulted in the formation of the Appalachian Mountain range and a new land mass called Pangea.
More specifically, the clays and sands of the Meguma Group were compressed between the colliding continents into tight folds (anticlines and synclines), and metamorphosed to slates and greywackes. Approximately 360 to 370 million years ago granite magmas, produced by the high pressure melting of the metamorphic sediments in the roots of the Appalachian Mountains, intruded the folded rock deep below the Earth's surface. The magmas slowly solidified and, after millions of years of erosion of the Appalachian Mountains, are now exposed on the surface. The South Mountain and Musquodoboit Batholiths are two major granitic bodies formed in this manner.
Erosion of the land mass resulted in the accumulation of thick sediment sequences, as the Horton and Windsor Group rocks. The basal conglomerates, that host the paleoplacers, were formed at this time.
During the Triassic Age (160 million years later) Pangea rifted apart and the Atlantic Ocean began to form. When the land mass split, the Meguma Group rocks separated from the African continent, remained attached to North America along the Cobequid - Chedabucto Fault and formed the southern half of Nova Scotia. In the Appalachian Mountain range, the Meguma Group is unique as it is "the only outcropping remnant of Africa left in North America."10
The final event in the geological history was the deposition of glacial till during the Pleistocene glaciation. The blanket of till, which covers much of the bedrock, was produced by the grinding action of ice as it moved over the surface of the rocks. The ice sheets retreated from this region approximately 10,000 years ago, leaving behind the topography observed today in Nova Scotia.
Photos: (not presently available)
A miner cleaning muck from a recent blast in a cross-cut at the Beaver Dam deposit developed by Seabright Resources Incorporated.
The anticlinal fold structure often observed in the gold bearing rocks of the Meguma Group.
Figure: (not presently available)
The ancient supercontinent of Pangea; note the location of Nova Scotia.
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Meguma Group Quartz Veins and the Hypotheses of Formation
Quartz Veins
Lode gold is found in quartz veins that are largely associated with the complicated fold structures of the Meguma Group rocks. The gold -bearing (auriferous) veins most often lie within the slate beds. These beds are comparable to the original sediment layers, with no one particular bed containing all the productive veins. Most veins are parallel to the beds, although cross-cutting veins in the slates and greywackes have been observed and mined. The veins that run parallel to the beds are often folded or corrugated. The vein orientation, which resembles a series of casks laid side by side and end to end, was called "barrel quartz" - a term first used by the miners at Waverley.
The length of the veins can be thousands of feet (100s to 1000s of metres) and the vertical extension below the Earth's surface as much as 700 feet (213 metres). The thickness varies from one inch to 15 feet (2.5 centimetres to 5 metres). The colour and texture of the quartz veins varies from a white crystalline to a blue-grey greasy appearance. Historically, the latter type of quartz was the most productive.
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Hypotheses of Formation
Hypotheses on the formation of the veins and the source of the gold date back to the early mining days of the 1860s. There are two principles that categorize the hypotheses.
The first principle is based on the simultaneous deposition of sediment and gold (i.e. syngenetic hypotheses). While the clays and sands were settling to the bottom of the ancient sea, gold particles were doing so at the same time. With further deposition of the sediments, the gold particles were trapped. Over the millions of years to follow, the sediments were compacted, lithified (hardened) and turned to rock. Today the entrapped gold is contained within the strata (layers) of the rock. Depending upon the relative quantity of gold to clay, sand and quartz at the time of deposition, a layer of gold or disseminated gold (individual particles) was formed in the rock. According to this principle, the gold veins formed parallel to the sediment layers (i.e. concordant veins). Subsequent deformation folded and fractured the host rock slates and greywackes as well as the auriferous quartz veins.
The second principle involves formation of veins by the injection of gold -rich quartz solutions into fractures in the Meguma Group slates and greywackes (i.e. epigenetic hypotheses). The clay and sands were deposited in layers on the sea floor, lithified to form slates and greywackes, and these rocks folded, fractured and faulted. It was during these deformation events that openings, cooled and solidified to form auriferous quartz veins. Since the fractures or openings developed with no one preferred orientation with respect to the slates and greywackes, crosscutting (i.e. discordant) as well as parallel veins formed.
In summary, all geological events (i.e. deposition of sediments, lithification and deformation) did occur. However, it is the timing of the formation of the gold -bearing quartz veins that distinguishes the syngenetic and epigenetic hypotheses.
Photos: (not presently available)
Deformed quartz vein cutting Meguma Group Metasediments. This is a typical auriferous quartz vein observed in many of the gold deposits. The gold is generally found near the margins of the vein.
A quartz vein at the Fifteen Mile Brook gold district; note the intense folding of the vein.
Table: Troy Ounces of Gold Produced
Figure: (not presently available)
Simplified geological map of Nova Scotia depicting the basic geological units and the locations of the gold districts or producers; note that many of the gold districts coincide with the anticlinal fold axes of the Meguma Group rocks.
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Present Exploration and Future Trends
With the high price of gold in recent years, the investment in gold exploration in Nova Scotia has escalated. Since 1979 exploration expenditures have increased steadily. With respect to the other commodities, gold accounted for 85% of the total exploration dollars spent in 1987 - a substantial increase over the previous years.11
Current exploration programs for gold are not confined by the traditional theories or methods of exploration and mining. New theories, developed from recent studies on the origin of gold, have influenced exploration. Exploration programs are no longer restricted to the quartz veins of the Meguma Group rocks. Nowadays, programs have expanded to include not only the host rock slates and greywackes but also glacial tills, granitic rocks, and the rock units of the Cobequid Highlands and Cape Breton Island.
Feasibility studies have been done on the extraction of gold by heap leaching from the tailings and concentrates of old workings, and on the reopening of the old underground mines. At this time, gold properties at Forest Hill and Beaver Dam are in the final stages of development and nearing the production stage, with the Tangier property not far behind. Cochrane Hill, Harrigan Cove and Goldenville may be considered advanced development properties, while Fifteen Mile Stream, Mooseland, Moose River, Leipsigate and Molega are in the advanced exploration stage.
Dredging offshore sediments for gold recovery has also been investigated. Gold in glacial tills is of interest to geologists, as it may indicate if gold exists in the underlying bedrock. Lake, stream and rock geochemistry, geophysical surveys and remote sensing techniques - none of which existed at the time of the initial gold discoveries - aid in the detection and delineation of gold occurrences.
Today, gold exploration is taking a new direction. The gold discovery potential has never been better. Geological research, modern technology and the high market price of gold all point confidently to a bright future for Nova Scotia gold .
Photos: (not presently available)
A mining vehicle transporting some of the several dozen miners employed in the underground workings of the Beaver Dam deposit. The ventilation system is seen to the left of the photo. The mine is operated by Seabright Resources Incorporated.
Shaft (background) which provides vertical access to the Forest Hill gold deposit operated by Seabright Resources Incorporated. Underground development presently goes to the 200 m level.
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What do you think of the charts on SVNP and BLBR?
Both look great, and are ready to go much higher. BDGR.PK picking up
huge vol, and is up big from last week. DMTN.PK it has dipped to insave
levels after two monster PR's came out....
OX has news coming in January. Should run like LBE and PSR.H. :)
CTG and OX . Gold plays for 2006.
CTG.V - Looking great !
CTG.V - Looking Great !!
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