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Thank You
The April 3 filing says 550,000,000 common authorized. How come it says ONLY 500,000,00 up top?
Where did you hear rumor? Has anythin changed with this company? 10Q ?
AVGCF-Short Sales
Date, Short Interest, % Change, Avg.Daily Share Volume, Days to Cover, Split, New Issue
Mar 30, 2012 266,135 155.08 89,885 2.96 No No
Mar 15, 2012 104,335 77.66 30,349 3.44 No No
Feb 29, 2012 58,728 221.57 65,397 1.00 No No
Feb 15, 2012 18,263 -58.35 46,537 1.00 No No
Jan 31, 2012 43,853 361.37 30,907 1.42 No No
AVGCF is trading near its lower price channel band. This suggests that the stock price is low relative to the action over the last 14 week period.
Monday, AVGCF closed below the trigger point for the Parabolic SAR and is currently registering a bearish signal. The current Significant Point, above which a reversal to the bullish side would occur, is 1.67..On Balance Volume
The On Balance Volume indicator (OBV) shows that longer term accumulation has given way to near term accumulation selling pressure..Relative Strength Index (RSI)
The RSI, is currently at 25.54%, below the critical value of 30, which suggests that AVGCF is oversold. Although this does not necessarily mean that shares will rally, it is an indication that recent selling pressure is at a level that is not normally sustainable.
The MACD for AVGCF currently indicates a strong bearish signal for two reasons. First, the MACD is below the signal line, a 9-week moving average. Second, the MACD is below the critical level of 0, which implies that the underlying moving averages are trending lower..Williams Percent R
According to the %R which is currently at -85.04%, below the critical value of -80, AVGCF may be oversold. While this does not signal that shares will begin to rally, it is unlikely that selling pressure can continue at this level.
ABCW is trading above its 10 week moving average. This is considered to be the sign of a bullish trend. There is added weight to this indication because the moving average is rising and suggests that there has been buying interest in this stock.
ABCW's recent volatility has been greater than normal. This is evidenced by the increased distance between the upper and lower bands that make up the price channel. Additionally, ABCW is trading within its price channel. This is a normal condition and suggests that the stock is neither overbought nor oversold relative to the price action over the last 14 week period.
Monday, ABCW closed above the trigger point for the Parabolic SAR and is currently registering a bullish signal. The current Significant Point, below which a reversal to the bearish side would occur, is 0.39.
The On Balance Volume indicator (OBV) shows that longer term selling pressure has given way to near term accumulation..Relative Strength Index (RSI)
The RSI recently dropped to 68.95% from above the critical level of 70. This signals that ABCW is no longer overbought.
The MACD for ABCW currently indicates a strong bullish signal for two reasons. First, the MACD is above the signal line, a 9-week moving average. Second, the MACD is above 0 which implies that the underlying moving averages are trending higher..Williams Percent R
According to the %R which is currently at -17.28% and above the critical level of -20, ABCW may be overbought. While a stock that is overbought may continue to rally, investors should be especially careful when ABCW begins to lose strength and the %R dips below -20.
AQARF is trading within its price channel. This is a normal condition and suggests that the stock is neither overbought nor oversold relative to the price action over the last 14 week period.
The On Balance Volume indicator (OBV) presently offers a bearish signal. This is because the slope of the indicator is negative and suggests that there is a lack of buying interest.
The RSI recently crossed above the critical value of 30, which indicates that the selling pressure has lessened and that the internal strength of AQARF has increased. This is a positive signal and suggests that, at least in the near-term, a bottom has formed.
AQARF's MACD is currently indicating a weak bullish signal. Although the MACD is trending above the signal line, the indicator is still below 0, which suggests that the underlying moving averages are bearish..Directional Movement Index (DMI)
The ADX is below 20 which signifies that AQARF is not trending. Therefore the Bearish signal provided by the Directional Movement Index is not confirmed and it is too early to act solely based on this indicator..Williams Percent R
%R has recently crossed above the critical value of -80 which suggests that the selling pressure has lessened and the internal strength of AQARF has increased. This is a positive indicator for the stock and implies that, at least in the near-term, a bottom has formed
AVGCF- Mali's new leader, Dioncounda Traore, has threatened a "total war" against separatist rebels in the north.
Mr Traore's inauguration marks a return to civilian rule following last month's coup in the West African state.
Mr Traore now has 40 days to organise elections - though correspondents say this deadline is unlikely to be met because of the situation in the north.
AVGCF dropped below its 10 week moving average at 1.35 and is now at 0.96.
The On Balance Volume indicator (OBV) shows that longer term accumulation has given way to near term accumulation selling pressure.
The RSI, is currently at 23.05%, below the critical value of 30, which suggests that AVGCF is oversold. Although this does not necessarily mean that shares will rally, it is an indication that recent selling pressure is at a level that is not normally sustainable.
Mali's coup leader has rejected the intervention of foreign troops in the rebel-held north - and hinted at his continuing role in ruling the country.
The comments come just days after a deal was brokered that is supposed to return the West African state to constitutional rule.
The West African regional bloc Ecowas has said it is preparing a force of up to 3,000 soldiers, which could be deployed to wrest back control of the north.
Spelling out details of that deal, Capt Sanogo said that he would help decide how the country would be run after the 40 days set out in the country's constitution for a transition of power.
"It was very clear in the framework agreement that after 40 days we would sit down with Ecowas to decide on another team to lead the transition," Capt Sanogo said.
Correspondents say it now seems clear that the junta leader will remain a key player as Mali tries to pull itself out of crisis
AVGCF-Canada Hot Stocks: Celestica, Avion Gold
19 hours 6 minutes ago - Dow Jones News
Among the companies whose shares are making notable moves in Monday's session are Celestica Inc. (CLS) and Avion Gold Corp. (AVR.T).
Raymond James downgraded Celestica (C$8.76, C$0.61, -6.5%) to market perform from outperform.
Avion Gold (C$0.97, C$0.11, 13%) said first-quarter production totaled about 26,256 ounces from its Tabakoto/Segala operations in Mali, West Africa, a record for gold produced in one quarter. Gold prices are also stronger Monday.
-By Dow Jones Newswires; write to djcanada@dowjones.com
AVGCF
GOLD
04/09/2012
16:40
1641.60
1642.60
+10.50
+0.64%
SILVER
04/09/2012
16:40
31.72
31.82
+0.01
+0.03%
31.51
KITCO
Ecowas has lifted sanctions it imposed after the coup and an amnesty has been agreed for the coup leaders.
Ecowas is preparing a force of up to 3,000 soldiers which could be deployed to stop the rebel advance.
AVCGF- Borders open again-AVGCF
AVGCF- President Amadou Toumani Toure of Mali has formally resigned as part of a deal with coup leaders to end the crisis gripping the West African state.
International mediator Djibril Bassole, Burkina Faso's foreign minister, confirmed a letter of resignation had been submitted.
The resignation paves the way for the coup leaders to step aside and the parliamentary speaker to take over.
AVGCF- Coup leaders in Mali have agreed to stand down and allow a transition to civilian rule, as part of a deal struck with regional bloc Ecowas.
In return, the bloc will lift trade and economic sanctions and grant amnesty to the ruling junta, mediators said.
The move came after Tuareg rebels in the north declared independence of an area they call Azawad.
The rebels seized the area after a coup two weeks ago plunged the West African nation into political crisis.
Independence call
Under the terms of transition plan, military rulers will cede power to the parliamentary speaker, Diouncounda Traore, who as interim president will oversee a timetable for elections.
Once sworn in, Mr Traore would have 40 days to organise elections, the five-page agreement says.
The UN Security Council has called for an end to hostilities in northern Mali and a return to constitutional rule two weeks after the country's coup.
It voiced alarm at the presence of a militant group with al-Qaeda links inside the west African state.
The military junta said it has postponed a convention set for Thursday aimed at ending the crisis.
Meanwhile, a Tuareg rebel group in the north has said it is ending its part in the fighting.
The Azawad National Liberation Movement (MNLA) - one of two main groups battling against the government for control of the area - said it would unilaterally end military operations on Friday-BBC
Yes sir, its been up for a while, I was wondering why it wasn't on the board. Its been on this site for a while. Just not sure whats happening, Thanks
How come the Florida DOS Link was taken off?
AVGCF-West African states are imposing immediate sanctions on Mali, Ivory Coast's president has announced.
Alassane Ouattara, current head of regional body Ecowas, said it had closed borders to trade and frozen Mali's access to bank accounts.
The group had given the leaders of the country's military coup until Monday to step down.
Correspondents say the poor, landlocked country would struggle to survive an economic blockade.
Mali is almost entirely dependent on its Ecowas neighbours for trade. It also shares its currency with seven other regional countries - and other members of the CFA franc zone have said they will cut transfers to Mali's banks.
President Ouattara said: "All diplomatic, economic, financial measures and others are applicable from today [Monday] and will not be lifted until the reestablishment of constitutional order."
He added that Ecowas' military force had been put on standby.
'Blow to democracy'
Mali's neighbours are keen for order to be restored in the country.
"The situation in Mali is extremely serious, it is a blow to democracy and an attack on the territorial integrity of this country," Mr Ouattara said.
The army said it had staged its coup because the campaign against the Tuareg rebels - who are fighting for an autonomous region in the north of Mali - had been poorly run.
But the Tuareg took advantage of the political situation over the weekend by seizing the key towns of Timbuktu, Gao and Kidal.
The UN Security Council will hold an emergency meeting on the crisis in Mali on Tuesday, AFP news agency quoted a US mission spokesman as saying.
France initially called for the meeting because it is increasingly concerned about gains made by Tuareg rebels in the north since the junta overthrew Mali's government, the agency adds.
Coup leader Capt Amadou Sanogo has said the army is not leaving power, but has promised to consult local political forces to set up a transition body "with the aim of organising peaceful, free, open and democratic elections in which we will not take part".
The coup and Tuareg rebellion have exacerbated a humanitarian crisis in Mali and some neighbouring countries, with aid agencies warning that 13 million people need food aid.
BBC-Africa
Avion Gold Corporation (TSX:AVR)(OTCQX:AVGCF) ("Avion" or the "Company" ) today announces its financial results for the fourth quarter and year ended December 31, 2011. All amounts are in United States dollars unless otherwise indicated.
Avion will host a conference call at 10:30 AM (EST) on Monday, April 2, 2011 to discuss the results. To participate in the call please dial:
International: +1 416 340 2216
Toll Free: 866 226 1792
Toronto Area: 416 340 2216
Complete audited financial statements and related Management's Discussion and Analysis will be available under the Company's profile on www.sedar.com by 7:00AM (ET) on March 31, 2011.
Fourth Quarter Highlights:
-- The Company had earnings of $8.1 million, or $0.02 per share, and cash
flow from operations before working capital adjustments of $16.1
million.
-- During the quarter the Company sold 23,418 ounces of gold at an average
realized price of $1,647 per ounce compared to $1,370 in Q4 of the
previous year
-- Gold revenue was $37.2 million compared to $38.2 million for the
comparable quarter of 2010.
-- The Company produced 23,418 ounces of gold at a cash cost per ounce of
$734 and total cash costs produced of $823. Cash costs per ounce
declined from the previous quarter as the Company achieved additional
operating efficiencies.
-- The Company announced that it had increased the mineral resources at the
Vindaloo, Hounde property in Burkina Faso by more than 100% .
Full Year 2011 Highlights
-- During 2011, the Company achieved record earnings of $43.1 million, or
$0.10 per share compared to $35.9 million or $0.10 per share for the
prior year.
-- Gold revenue for the year 2011 was $143.9 million compared to $115.3
million for the prior year. The Company fully benefited from the higher
gold prices as it was un-hedged.
-- During 2011, the Company produced 91,200 ounces of gold at a cash cost
per ounce of $652 and total cash cost of $746.
-- In 2011, the Company generated operating cash flow before working
capital adjustments of $67.5 million compared to $54.7 million in 2010.
-- The Company completed 2011 with cash and cash equivalents of $21.2
million.
2012 Outlook
The current Outlook is Management's best estimate of the short and long term plans with respect to the Company. Recently, members of the National Army have mounted a coup in Mali, and while the Company has reported that operations at site are continuing without interference and that mine activities are progressing uninterrupted, there continues to be a risk that the political uncertainty in Mali will cause interruptions in receiving supplies and equipment. As a result, the assumptions and estimates upon which the Company has based its short and long term plans, could be curtailed due to lack of supplies and personnel availability as well as other known and unknown risks.
The Company is forecasting 2012 production of between 140,000 and 150,000 ounces of gold and its plans to increase to a run rate of 4,000 tonnes per day in the fourth quarter of 2012 are advanced. Avion's results in 2011 have allowed this plan to be put into action. Since production re-started in February 2009, the Company has achieved production increases year over year despite some operational challenges due to a strong management team at the mine site. Avion is currently focussed on underground production at Tabakoto, underground development at Segala (currently preparing to rehabilitate a 2 metre wide fault zone that has temporarily halted advance), and has contracted Genivar to lead the mill plant expansion to 4,000 tonnes per day which is expected to start commissioning at the end of Q2-2012. The Company has also initiated a Preliminary Economic Assessment at the Hounde Project in Burkina Faso which will be completed in late Q3 or early Q4-2012. This has required a significant amount of capital and necessitated the Company to access the equity markets and enter into debt facilities. In 2012, the mill expansion is expected to be completed providing greater production, the underground development at Segala will be further advanced and the Hounde Project will move towards a Feasibility study. Underground ore is being mined at Tabakoto, and ore is being mined from several open pit deposits. Activities during 2012 will set the stage for 2013 and achieving the capacity to produce 200,000 ounces per year from the 4,000 tonne per day mill which should be fully operational under our current plan...subject to no interruption by the military action.
Financial Discussion: three months ended December 31, 2011
The Company reported net income of $8,072,364 ($0.02 per share, basic and diluted) for the three months ended December 31, 2011 compared to $20,387,058 ($0.05 per share, basic and diluted) for the three months ended December 31, 2010.
During Q4-2011, the Company sold 23,418 ounces of gold and generated $37,199,811 in gold sales revenue. In Q4-2010, 27,908 ounces of gold was sold generating $38,249,405 in gold sales revenue. Mining and processing costs were $14,696,994 (Q4-2010: $14,913,311) and the Company recorded amortization and depletion of $8,120,033 (Q4-2010: $1,158,333). The Company is amortizing deferred property, plant and equipment related to the Mali projects on a unit of production basis from the current mine plan. The Company was subject to a 6% royalty on metal sales during the quarter. Royalty expense totaled $2,077,985 (Q4-2010: $2,019,134) for the ounces of gold sold during Q4-2011.
Corporate and administrative expenses decreased marginally for the quarter ended December 31, 2011 totalling $1,241,721 compared to $1,303,697 for Q4-2010.
Non-cash share-based compensation expense for Q4-2011 was $562,856 (Q4-2010: $497,824) related to the estimated fair value of stock options that were granted and vested during Q4-2011. A total of 700,000 stock options were granted during Q4-2011 compared to 565,000 during Q4-2010. Share-based compensation was estimated using the Black-Scholes option pricing model as at the date of grant.
The Company recorded an impairment charge of $2,129,554 related to the recoverability of fuel duties during Q4-2011 (Q4-2010: $nil).
The Company also incurred a foreign exchange translation loss of $235,963 during Q4-2011 compared to a loss of $1,595,416 during Q4-2010.
Financial Discussion: twelve months ended December 31, 2010
The Company reported net income of $43,072,532 ($0.10 and $0.10 per share, basic and diluted respectively) for the twelve months ended December 31, 2011 compared to $35,888,421 ($0.11 and $0.10 per share, basic and diluted respectively) for the twelve months ended December 31, 2010. The increase in income is primarily the result of increased sales volumes and gold prices offset by higher operating costs and increased depletion and depreciation expenditures.
During 2011, the Company sold 92,224 ounces of gold and generated $143,295,976 in gold sales revenue (2010: 92,630 ounces generating revenue of $115,306,132). Mining and processing costs were $62,114,494 (2010: $53,486,908), which includes $385,304 (2010: $2,866,703) in amortized deferred stripping costs. Mining and processing costs also includes a provision for taxes from prior years in the amount of $4,538,671. The Company recorded amortization and depletion of $17,215,360 (2010: $7,396,209) for the year ended December 31, 2011. The Company is amortizing deferred property, plant and equipment related to the Mali projects on a unit of production basis from the current mine plan. The Company was subject to a 6% royalty on metal sales during 2011. Royalty expenses totaled $8,597,019 (2010: $7,273,258) for the ounces of gold sold during 2011.
Corporate and administrative expenses for the twelve months ended December 31, 2011 totalled $4,722,932 compared to $4,092,667 for 2010. The increase in corporate costs is a result of the increased activity of the Company, including the hiring of additional personnel, higher compensation for employees and directors and an increase in professional fees.
Non-cash share-based compensation expense for the twelve months ended December 31, 2011 was $4,446,627 (2010: $6,865,189) related to the estimated fair value of stock options that were granted and vested during the nine months ended December 31, 2011. A total of 5,555,000 stock options were granted during the twelve months ended December 31, 2011 compared to 14,510,000 during the twelve months ended December 31, 2010.
The Company recorded tax penalties of $1,196,039 during 2011 compared to $nil during 2010 as a result of recent tax assessments made by the Malian government. As well, the Company recorded an impairment charge of $2,129,554 related to the recoverability of fuel duties during 2011 (2010: $nil).
The Company recognized an unrealized loss of $2,154,137 during the twelve months ended December 31, 2011 (2010: an unrealized loss of $910,319) related to their held-for-trading investments based on the fair market value of these investments as at December 31, 2011. During the comparative year, the Company recognized a gain of $750,359 on the revaluation of the warrant provision from warrants held in a currency other than the Company's functional currency.
The Company also incurred a foreign exchange translation gain of $2,136,035 during 2011 compared to a loss of $160,525 during 2010.
About Avion Gold Corporation
Avion is a Canadian-based gold mining company focused in West Africa that holds 80% of the Tabakoto and Segala gold projects in Mali. Gold production commenced at these projects in 2009 with approximately 51,290 ounces produced. 2010 production was 87,630 ounces of gold. 2011 production was 91,200 ounces of gold. The current mineral reserve estimate (as of January 1, 2011) of 7.24 million tonnes grading 3.92 g/t Au totaling 913,100 ounces of gold (proven and probable), for the Tabakoto project property, demonstrates several sources of excellent grade open pit and good grade underground mineral resources thus providing significant flexibility for Avion's future mining plans. The Company has developed an underground mine at the Tabakoto deposit, and is developing another underground mine at the Segala deposit. The Tabakoto project property also contains several producing open pit mines. Production sustainability will continue to be supported by exploration programs over an approximately 600 km2 exploration package that both surrounds and is near to the Company's existing mine infrastructure, and contains mineral resources on the Kofi property. Additionally, mineral resources have grown considerably at Avion's 1,600 km2 Hounde exploration property in Burkina Faso. Aggressive exploration programs are underway at the Tabakoto, Kofi and Hounde properties for 2012. Avion continues to progress towards its short term goal of 200,000 ounces of gold per year and a longer term goal of 400,000 to 500,000 ounces of gold per year through development of its exploration properties. Avion has a highly skilled management team, with a focus on growth and consolidation within West Africa.
Cautionary Notes
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, statements regarding the impact of the financial results on the Company, development potential and timetable of the Mali projects; the future price of gold; the estimation of mineral resources; conclusions of economic evaluation (including scoping studies); the realization of mineral resource estimates; the timing and amount of estimated future production, development and exploration; costs of future activities; capital and operating expenditures; success of exploration activities; mining or processing issues; currency exchange rates; government regulation of mining operations; and environmental risks. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: general business, economic, competitive, geopolitical and social uncertainties; the actual results of current exploration activities; foreign operations risks; other risks inherent in the mining industry and other risks described in the annual information form of the Company, which is available under the profile of the Company on SEDAR at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
Cautionary Non-GAAP Statements
Avion believes that investors use certain indicators to assess gold mining companies. The indicators are intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared with GAAP. "Cash f low from operating activities before changes in non-cash working capital" is a non-GAAP performance measure which could provide an indication of the Company's ability to generate cash flows from operations, and is calculated by adding back the change in non-cash working capital to "Cash provided by (used for) operating activities" as presented on the Company's consolidated statements of cash flows. "C ash flow per share" is calculated by dividing "Cash provided by (used for) operating activities" and ad ding back the change in non-cash working capital by the fully diluted number of shares outstanding for the period. "Cash cost per ounce produced" is a non - GAAP performance measure which could provide an indication of the mining and processing efficiency and effectiveness at the mine. It is determined by dividing the relevant mining and processing costs excluding royalties by the ounces produced in the period. There may be some variation in the method of computation of "cash cost per ounce produced" as de termined by the Company compared with other mining companies. In this context, "ounces produced " includes in-process and dore inventory along with ounces of gold sold in the period. "Cash costs per ounce produced" may vary from one period to another due to operating efficiencies, waste to ore ratios, grade of ore processed and gold recovery rates in the period.
The following table provides a reconciliation of mining and processing costs per the financial statements and cash operating for the purposes of calculating cash costs per ounce produced and total cash costs produced.
Three Months Ended Twelve Months Ended
December 31, 2011 December 31, 2011
Mining and processing expenses 14,696,994 62,114,494
By-product silver sales credit (93,530) (623,513)
Inventory movements and
adjustments 2,595,629 2,539,324
Provision for government
assessment for - (4,538,641)
prior period payroll and other
taxes
Cash operating costs 17,199,093 59,491,634
Divided by ounces of gold
produced 23,418 91,200
Cash cost per ounce produced 734 652
Royalties 2,077,985 8,597,019
Total cash cost per ounce
produced 823 747
Operating cashflow 12,997,211 54,497,485
(before working capital
adjustments)
Operating cashflow per ounce
produced 555 598
Contacts:
Avion Gold Corporation
Michael McAllister
Manager, Investor Relations
(416) 309-2134
ABCW is trading above its 10 week moving average. This is considered to be the sign of a bullish trend. There is added weight to this indication because the moving average is rising and suggests that there has been buying interest in this stock.
ABCW's recent volatility has been greater than normal. This is evidenced by the increased distance between the upper and lower bands that make up the price channel. Additionally, ABCW is trading above its 14 week price channel. This means that the stock is trading at a new high for the period and the price channel will update to reflect that. ABCW closed above the trigger point for the Parabolic SAR and is currently registering a bullish signal. The current Significant Point, below which a reversal to the bearish side would occur, is 0.25.
The On Balance Volume indicator (OBV) shows that longer term selling pressure has given way to near term accumulation.
The RSI, which is currently at 92.80% and above the critical level of 70, suggests that ABCW is overbought. While a stock that is overbought may continue to rally, investors should be especially careful when ABCW begins to lose strength and RSI dips below 70.
According to the %R which is currently at -2.47% and above the critical level of -20, ABCW may be overbought. While a stock that is overbought may continue to rally, investors should be especially careful when ABCW begins to lose strength and the %R dips below -20..Directional Movement Index (DMI)
The +DI line is above the -DI line and the ADX is greater than 20. This is a bullish signal that indicates the stock is in a confirmed uptrend..Ultimate Oscillator
According to the Ultimate Oscillator which is currently at 74.15%, above the critical level of 70, ABCW may be overbought. While a stock that is overbought may continue to rally, upwards momentum may not be sustainable at this level. Investors should be especially careful when ABCW begins to lose strength and Ultimate Oscillator dips below 70.
AVGCF- During 2011, the Company achieved record earnings of $43.1 million, or
$0.10 per share compared to $35.9 million or $0.10 per share for the
prior year.
AVGCF - Avion Gold Announces Fourth Quarter 2011 Earnings of $8.1 Million With Earnings Per Share of $0.02
AVGCF- TORONTO, ONTARIO--(Marketwire - March 29, 2012) - Avion Gold Corporation (TSX:AVR.TO - News)(OTCQX:AVGCF.PK - News) ("Avion" or the "Company") announces that it continues to monitor the situation in Mali where members of the National Army have mounted a coup. Avion's management team together with its Board of Directors and members of the Forbes & Manhattan advisory board meet daily to review and discuss information that has been gathered from a variety of sources. The Company notes that the re-opening of land and air borders in Mali are positive developments towards the restoration of normalcy to the economy and return of stability to the country.
The Company also reports that operations at site are continuing without interference and that mine activities are progressing uninterrupted. Management notes the successful transition to underground mining at Tabakoto has exceeded production expectations.
Despite the ongoing operations and excellent progress at site, there continues to be a risk that the political uncertainty in Mali will cause delays in the ongoing mill expansion if Avion encounters interruptions in receiving supplies and equipment. There have been minimal delays to date and management is pursing contingency plans to reduce future delays, but the actual effect on the mill expansion schedule will not be known until after the political situation stabilizes.
Avion also announces that the board and management felt it prudent to have additional cash reserves to ensure the current mill and mine expansion continues on time and according to schedule. Although the board and management are generally not inclined to enter into any type of forward selling or hedging, the Company decided to enter into a sale of call options over a three year term to strengthen the Company's balance sheet. This was a non-dilutive form of financing that was relatively inexpensive considering the situation in Mali and the Company's stock price. Avion received cash proceeds of US$25 million by entering into the agreement for the sale of European style calls on gold for the next twelve quarters in an aggregate amount of approximately 36,000 ounces with an average strike price of approximately $833 per ounce. The calls represent less than 8% of the Company's planned gold production for the next twelve quarters. There are no margin or covenant requirements associated with this transaction. Funds from the sale of the forward calls will be used to maintain Avion's exploration and development programs and general corporate purposes.
About Avion Gold Corporation
Avion is a Canadian-based gold mining company focused in West Africa that holds 80% of the Tabakoto and Segala gold projects in Mali. Gold production commenced at these projects in 2009 with approximately 51,290 ounces produced. 2010 production was 87,630 ounces of gold. 2011 production was 91,200 ounces of gold. The current mineral reserve estimate (as of January 1, 2011) of 7.24 million tonnes grading 3.92 g/t Au totaling 913,100 ounces of gold (proven and probable), for the Tabakoto project property, demonstrates several sources of excellent grade open pit and good grade underground mineral resources thus providing significant flexibility for Avion's future mining plans. The Company has developed an underground mine at the Tabakoto deposit, and is developing another underground mine at the Segala deposit. The Tabakoto project property also contains several producing open pit mines. Production sustainability will continue to be supported by exploration programs over an approximately 600 km2 exploration package that both surrounds and is near to the Company's existing mine infrastructure, and contains mineral resources on the Kofi property. Additionally, mineral resources have grown considerably at Avion's 1,600 km2 Hounde exploration property in Burkina Faso. Aggressive exploration programs are underway at the Tabakoto, Kofi and Hounde properties for 2012. Avion continues to progress towards its short term goal of 200,000 ounces of gold per year and a longer term goal of 400,000 to 500,000 ounces of gold per year through development of its exploration properties. Avion has a highly skilled management team, with a focus on growth and consolidation within West Africa.
AVGCF-CLAIMS that mining companies held a meeting this week with coup leaders in the West African nation of Mali have been met with silence by miners with projects in the country.
Mali has been in crisis in recent weeks after a military mutiny escalated into a full-blown coup that has overthrown the government.
The nation is one of several in West Africa that have recently attracted large numbers of Australian miners in search of large deposits, particularly gold.
Most have issued statements in recent days, typically saying their operations had not been affected by the coup.
But one of those companies, Oklo Resources, claimed yesterday that seven foreign mining companies had talks with coup members on Monday at which the importance of the mining industry to Mali's economy was acknowledged.
Oklo - which said it was not part of the meeting - said the coup leaders asked the companies to continue with their operations, and agreed to allow fuel and other mine supplies into the country despite the nation's borders being otherwise closed at present.
Oklo did not name the companies at the meeting, but said its information was received from experienced advisers in Mali.
BusinessDay asked several companies with exposure to Mali - including Resolute Mining and AngloGold Ashanti - whether they were involved in the meeting. All declined to respond.
Only Perth-based Papillon Resources confirmed it was not part of the meeting.
Read more: http://www.smh.com.au/business/miners-met-with-mali-coup-leaders-20120328-1vyp6.html#ixzz1qTTjrajV
Avion Gold Corporation (TSX: AVR)(OTCQX: AVGCF) ("Avion" or the "Company") announces plans to file its annual financials and MD&A for the period ending December 31, 2011 on the Company's SEDAR profile after the markets close on March 30, 2012, and they will be available on SEDAR by 7:00 AM (ET) March 31, 2012. By rescheduling the release date of the financial statements, MD&A and associated conference call, Avion will avoid conflicts with other mining companies who plan to release at a similar time. This will enable more analysts and participants to join the Company's conference call.
Well, it looks like hes not being paid to sling a bounch of b.s. like you are.
Why would someone take the opinion of someone paid to promote a stock?
What a friggin joke. All these paid promoters. I even had hopes they were for real(ARNH). Went through the R/S still thought o.k. you never know. Now they are paying these people to steal others money. What a bunch of b.s.
AQARF-SEDAR March 21st- Is pleased to announce the Company has entered into an Operating Agreement with HudBay
Minerals Inc. (TSX: HBM - NYSE: HBM) (“Hudbay”) to advance work at the Back Forty project
(“Back Forty” or the “Project”). The Company also announced that, together with Hudbay, it
expects to release a National Instrument (NI) 43-101 Preliminary Economic Assessment (PEA) for
the Project within the next 60 days.
The Back Forty project currently contains an NI 43-101 compliant Measured plus Indicated
resource estimate of 17.89 million tonnes grading 1.57 g/t gold, 19.60 g/t silver, 0.19% copper
and 2.44% zinc. Total contained metals include 907,000 ounces of gold, 11.31 million ounces
of silver, 963 million pounds zinc, and 75.8 million pounds of copper (see press release dated
October 15, 2010).
Operating Agreement
The Operating Agreement was contemplated previously in the Subscription Option and Joint
Venture Agreement originally entered into on August 6, 2009 (see press release dated August 6,
2009). The Operating Agreement will govern exploration, development and operations at Back
Forty.
Under the terms of the Operating Agreement, Back Forty assets will be transferred into a
Michigan Limited Liability Company. Initial ownership interests are 49 percent for Aquila and 51
percent for Hudbay, who will also remain the Project operator.
Hudbay can increase its ownership to 65 percent (or an incremental 14 percent) following
completion of the feasibility study, submission of all mine permit applications and by making
payments on outstanding land option agreements. Additionally, Hudbay will have the ability to
increase its stake by another 10 percent should Aquila elect not to fund its portion of capital
expenditures for development within 90 days of receipt of mining permits.
Hudbay will continue to be responsible for funding substantially all expenditures at Back Forty
until it has completed the feasibility study and submitted necessary mine permit applications.
Other terms covered in the Operating Agreement include dilution of the respective partners,
procedures for sale of either parties interest with right of first refusal and marketing rights to
products produced from the project.
Update on Preliminary Economic Assessment
The Company expects to author a National Instrument (NI) 43-101 Preliminary Economic
Assessment for the Back Forty project, utilizing data provided by Hudbay, within the next 60
days. The initial Project scope will be an open pit design that includes back filling of the pit
once mining has completed. Additional drilling focused on further delineation of in-pit
resources has occurred since the last resource estimate was published. The potential impact on
the Project from this delineation will be reviewed in conjunction with preparation of a Pre-
Feasibility Study.
““The execution of the Operating Agreement, and completion of the Preliminary Economic
Assessment, are the next steps in the progression of the Back Forty project towards making a
construction decision,” said President and CEO Thomas Quigley. “The PEA will provide an initial,
order of magnitude financial appraisal of an open pit mine plan exploiting only a portion of the
identified resource at Back Forty, and will also provide parameters and guidance for the
upcoming Pre-Feasibility study.”
About Back Forty Project
The Back Forty Project, located in Menominee County in the Upper Peninsula of Michigan, is an
advanced stage exploration project delineating a zinc and gold-rich volcanogenic massive
sulfide deposit under an Operating Agreement between Aquila and HudBay Minerals Inc. (NYSE:
HBM, TSX: HBM). The Back Forty deposit is comprised of massive sulfide, stringer, gossan, and
gold-only mineralization, each with high-grade components. Massive sulfide has been traced
along strike for nearly 1 kilometer and to a vertical depth of 700 meters. The limit of strong
hydrothermal alteration associated with the Back Forty massive sulfide has not been identified
and is indicative of a very large mineralized system. For more information on the Back Forty
Project, please refer to the Back Forty Project section on our website www.aquilaresources.com.
About Aquila Resources Inc.
Aquila Resources Inc. (TSX: AQA) (OTCQX: AQARF) (Frankfurt: JM4A) is a mineral exploration
Company focused on the discovery and development of high-grade base and precious metal
projects in highly prospective regions of North America. The Company is moving towards an
interest in production on its flagship Back Forty Project through an Operating Agreement with
Hudbay Minerals Inc. (TSX:HBM – NYSE:HBM). The Company has also positioned itself for future
growth by acquiring new base metal deposits under an Exploration Alliance with Hudbay as well
as through the acquisition of 100% owned precious metal exploration properties. Leading the
way is an experienced management and technical team that have identified significant highgrade
base and precious metal properties. For more information, please visit
www.aquilaresources.com
Aquila Resources (QX (AQARF)
0.486 + 0.03 (6.58%)
Volume: 43,900
Aquila Resources (TSX: AQA; OTCQX: AQARF) engages in the acquisition,
exploration and development of the Back Forty Project and other mineral resource
properties in the United States. The company has a 49% interest in the Back Forty
Project, which is located in Menominee County, Michigan.
The Back Forty Project is a volcanogenic massive sulfide (VMS) deposit consisting
of zinc, copper, gold and silver. The project is located in western Lake Township,
Menominee County, Michigan. The Back Forty Project is a joint venture with
HudBay Minerals Inc. in a pre-feasibility stage of evaluation (as of April 2011).
The Back Forty Project is being explored and developed under a subscription option
and joint venture agreement with HudBay, which owns 51% of the project. HudBay
has the option to increase its ownership interest in the project to 65% by completing
a feasibility study and submitting a mine permit application to the State of Michigan.
The Back Forty property consists of approximately 9,615 acres of private and state
mineral lands located in Lake Township and controlled by the Back Forty Joint
Venture (BFJV) through leases, outright purchases, options to purchase, and State
of Michigan metallic mineral leases. Four key parcels enclose the known
zinc-copper-gold-silver mineralization and its extensions. Options to purchase three
other adjoining parcels considered important for development were exercised in
2009 and 2010.
Mineralization at the Back Forty deposit consists of discrete zones of the following:
zinc or copper-rich massive sulfide, which may contain significant amounts of gold;
stockwork stringer sulfide, which can be gold, zinc, and copper-bearing; precious
metal-only, low-sulfide mineralization; and oxide-rich, precious metal-bearing
gossan.
The November 2010 National Instrument 43-101 resource estimate for the Back
Forty deposit includes 17.94 million tonnes measured plus indicated and 3.37 million
tonnes inferred. The measured plus indicated resources contain 902,000 ounces of
gold, 11.39 million ounces of silver, 961.2 million pounds of zinc and 78.6 million
pounds of copper. An additional 140,000 ounces of gold, 2.64 million ounces of silver,
145.6 million pounds of zinc and 33.2 million pounds of copper are included in
inferred resources.
On November 1, 2010, Aquila announced that it had acquired under option a
package of gold properties located in the Marquette Greenstone Belt of Michigan.
The acquisition was part of the company's strategy to diversify its asset base and
expand its asset portfolio of exploration interests.
On March 7, 2011, Aquila announced the acquisition of the Reef Gold Project
located in Marathon County, Wisconsin.
On April 19, 2011, the company provided an update on the Back Forty Project in the
Upper Peninsula of Michigan. Exploration work at the project was continuing with
three drills evaluating extensions of known mineralization and potential new
mineralized zones. The exploration budget of C$5 million contemplated the drilling of
25,000 meters. Additional expenditures of C$11 million were budgeted for continuing
engineering studies and other work in support of pre-feasibility and permitting
activities.
Two drills were targeting off-hole conductors from bore hole pulse EM surveys as
well as down dip extensions of known mineralization, and several holes
encountered thick intervals of massive sulfide. A single drill was stepping out to the
east of the Back Forty resource with the eventual goal of testing recently identified
surface pulse EM and airborne VTEM anomalies located approximately one
kilometer east of the known deposit. In addition, a program of metallurgical drilling
to provide additional drill core for metallurgical test work was also completed.
CanAm Coal Announces Completion of $153,000 Private Placement
Further to a press release dated March 13, 2012, CanAm Coal Corp. (TSX VENTURE: COE) (OTCQX: COECF) ("CanAm" or the "Company") is pleased to announce that it has completed the non-brokered private placement of 900,000 units at a price of $0.17 per unit for gross proceeds of $153,000. Each unit consists of one common share and one half common share purchase warrant. Each warrant is exercisable at $0.22 per common share for a period of two years from closing. This private placement was fully subscribed for by Mr. Scott Bolton, who has been appointed Chief Financial Officer of the Company, and by Mr. Timothy Nakaska, a director of the Company. All of the securities issued in connection with the private placement are subject to a four month and one day hold period (until July 22, 2012
AQARF closed below its 10 week moving average.
AQARF has been relatively stable recently. This is evidenced by the width of its price channel which is tighter than is normal due to the low volatility. Additionally, AQARF is trading within its price channel. This is a normal condition and suggests that the stock is neither overbought nor oversold relative to the price action over the last 14 week period..Parabolic Stop and Reverse (PSAR)
Monday, AQARF closed below the trigger point for the Parabolic SAR and is currently registering a bearish signal. The current Significant Point, above which a reversal to the bullish side would occur, is 0.55..On Balance Volume
The On Balance Volume indicator (OBV) presently offers a bearish signal. This is because the slope of the indicator is negative and suggests that there is a lack of buying interest.
The RSI, is currently at 27.16%, below the critical value of 30, which suggests that AQARF is oversold. Although this does not necessarily mean that shares will rally, it is an indication that recent selling pressure is at a level that is not normally sustainable.
AQARF's MACD is currently indicating a weak bullish signal.
ABCW is trading above its 14 week price channel. This means that the stock is trading at a new high for the period and the price channel will update to reflect that. ABCW closed above the trigger point for the Parabolic SAR and is currently registering a bullish signal. The current Significant Point, below which a reversal to the bearish side would occur, is 0.20.
The On Balance Volume indicator shows that longer term selling pressure has given way to near term accumulation.
The RSI, which is currently at 86.32% and above the critical level of 70, suggests that ABCW is overbought. While a stock that is overbought may continue to rally, investors should be especially careful when ABCW begins to lose strength and RSI dips below 70.
ABCW's MACD is currently indicating a weak bullish signal. Although the MACD is trending above the signal line, the indicator is still below 0, which suggests that the underlying moving averages are bearish.Williams Percent R is currently at -5.26% and above the critical level of -20, ABCW may be overbought.Directional Movement Index (DMI)
Trading Monday caused the +DI line to rise above the -DI line. This is a bullish signal that is confirmed by the ADX which is above 20. Smart Text
Thanks, Hasnt been much attention on this one.
AQARF has been relatively stable recently. This is evidenced by the width of its price channel which is tighter than is normal due to the low volatility. Additionally, AQARF is trading within its price channel. This is a normal condition and suggests that the stock is neither overbought nor oversold relative to the price action.
Monday, AQARF closed below the trigger point for the Parabolic SAR and is currently registering a bearish signal. The current Significant Point, above which a reversal to the bullish side would occur, is 0.55.
The On Balance Volume indicator (OBV) presently offers a bearish signal. This is because the slope of the indicator is negative and suggests that there is a lack of buying interest.
The RSI recently crossed above the critical value of 30, which indicates that the selling pressure has lessened and that the internal strength of AQARF has increased. This is a positive signal and suggests that, at least in the near-term, a bottom has formed.
AQARF's MACD is currently indicating a weak bullish signal. Although the MACD is trending above the signal line, the indicator is still below 0, which suggests that the underlying moving averages are bearish..Williams Percent R
%R has recently crossed above the critical value of -80 which suggests that the selling pressure has lessened and the internal strength of AQARF has increased. This is a positive indicator for the stock and implies that, at least in the near-term, a bottom has formed..Directional Movement Index (DMI)
The ADX is below 20 which signifies that AQARF is not trending. Therefore the Bearish signal provided by the Directional Movement Index is not confirmed and it is too early to act solely based on this indicator.-Smart Text
Aquila: HudBay May Increase Ownership To 65% Following Feasibility Study- Dow Jones News
Dow Jones News has only provided a headline at this time.
Aquila: Initial Back Forty Ownership Interests Are 49%, With 51% For HudBay - Dow Jones News
Dow Jones News has only provided a headline at this time.
Aquila: Back Forty Resource Estimates Of 1.57 g/t Gold, 19.60 g/t Silver, 0.19% Copper, 2.44% Zinc
Dow Jones News
Dow Jones News has only provided a headline at this time.
Finally made back my initial investment. Been moving up lately.