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Money is very tight in the junior exploration sector, no doubt about it.
WOLV like most juniors, has faced difficulties in securing funding. But......I would be buying at these prices.
Total equity capital raised by miners on the Toronto Stock Exchange and TSX-V in the first two months of 2013 dropped 58 percent to C$558 million. That's down from C$1.36 billion in the first two months of 2012, and C$2.46 billion in Jan-Feb 2011.
Even more worrying, the average offering raised only C$2.9 million this year, down from C$4.6 million in 2012 and C$9.7 million in 2011. Much of that will be used to pay listing fees, bankers, lawyers, auditors and other overhead costs, leaving little to fund a drill program and generate value for investors.
I wish i bought WOLV at these prices.
Just because my average is higher than yours, doesn't mean I'm gonna trash WOLV.
More and more contracts are announced.
Viscount Systems (OTCQB:VSYS), a leading-edge, high technology supplier of security systems and software, is pleased to announce that the company has received confirmation to secure 30 high-rise apartment buildings in Canada. The first orders were shipped in February. The projects are for MESH Touch Screen intercom systems with the ability to upgrade to Freedom access control and other Viscount applications. The value of the MESH Touch Screen orders will be $150,000.
“We are pleased to see continued improvement for both our existing MESH business as well as Freedom as we continue through 2013,” noted Stephen Pineau, CEO of Viscount. “We had a difficult time from 2009 through 2012 with our traditional intercom business since it was closely tied to the housing market. With signs that the North American housing market is improving and that housing starts are increasing we are encouraged that MESH and Freedom will both contribute to our growth over the coming years.”
About Viscount’s Freedom Encryption Bridge Solution
Freedom Encryption Bridge is the first and only access control system that allows entry devices (IC cards, RFID readers, biometrics etc.) to be connected to standard building IT networks without requiring expensive control panels that are programmed from a PC. Freedom changes the paradigm of IT friendly access control. It eliminates up to 80% of the cost of traditional systems that require the installation of control panels. And, it utilizes existing logical IT security software (LDAP or Microsoft Active Directory) to replace both the control panel component and the software component of traditional systems. Freedom drastically reduces system costs while providing a much more secure software solution.
http://ih.advfn.com/p.php?pid=nmona&article=56614965&symbol=VSYS
It's been a really tough year for all junior miners, including our very own WOLV, and the junior explorers have felt the brunt of it all.
PDAC-Mineral explorers brace for shakeout as capital vanishes
6:48 PM ET, 03/06/2013 - Reuters
* Hundreds of Canadian-listed juniors feel financial squeeze
* Capital raised by sector plunged in first two months of year
* Investor interest in mining has waned as boom years fade
By Euan Rocha
TORONTO, March 6 (Reuters) - A purge of exploration-stage mining companies seems inevitable over the next 18 months as cash shortages threaten hundreds with extinction, de-listing or bankruptcy, industry insiders say.
With the mining sector enjoying an extended bull run in recent years, the ranks of explorers listed on Canada's TSX Venture Exchange - the world's biggest market for start-ups in the sector - has ballooned to over 1,300, accounting for almost 60 percent of all companies listed on the exchange.
Hundreds of these companies are now struggling, caught in a tightening squeeze for money, according to executives at this week's Prospectors and Developers Association of Canada mining convention in Toronto - the industry's largest annual meeting.
"There will be a clean-out. It has to occur," said David Strang, chief executive of Lumina Copper Corp. "It's no different than the Internet boom of the late 1990s where there was cheap venture capital money available - everybody built all of those companies and very few survived."
Junior mining companies flock to PDAC each year to drum up cash to sustain their operations, or better yet, entice a larger player to acquire them. But this year's pickings are slim for an expanded group of explorers that has grown desperate.
"A lot of companies are looking for survival financings right now," said Mark Zastre, the global industry head of mining for Grant Thornton, a Canadian accounting firm. "We are seeing it with our clients, every option is on the table right now."
In the last three years alone, some 218 new metal and mineral exploration companies listed on the TSX-V. But equity financings, the life-blood of juniors, have all but dried up. A bigger pool of companies is trying to tap a smaller pot of capital.
"I think we need to clean up the junior sector," said Greg Gibson, chief executive of Northern Gold Mining Inc. "There are just too many junior companies."
INAUSPICIOUS START
Juniors typically raise most of the money they need to fund exploration programs in the first quarter. But January and February data from Oreninc - a firm that tracks financing activity in the sector - suggests a bleak year ahead.
Total equity capital raised by miners on the Toronto Stock Exchange and TSX-V in the first two months of 2013 dropped 58 percent to C$558 million. That's down from C$1.36 billion in the first two months of 2012, and C$2.46 billion in Jan-Feb 2011.
Even more worrying, the average offering raised only C$2.9 million this year, down from C$4.6 million in 2012 and C$9.7 million in 2011. Much of that will be used to pay listing fees, bankers, lawyers, auditors and other overhead costs, leaving little to fund a drill program and generate value for investors.
DIRE STRAITS
Not long ago, investors were infatuated with mining. But their enthusiasm waned as stagnating metals prices and spiraling costs brought big cost overruns and writedowns on the value of assets acquired for top dollar at the peak of the boom.
Chief executives of some of the biggest mining companies have been axed, their successors vowing austerity.
"There is a mood across the board that mining companies are not running their operations properly, that they are not giving clarity to investors and that there are perpetual cost overruns and write-offs being taken," said Daryl Hodges, chief executive of Jennings Capital, which helps raise financing for miners. "So there is a complete change in (investor) attitudes."
A Grant Thornton survey of 389 miners in the United Kingdom, South Africa, Australia and Canada showed that 43 percent of them had cash balances of less than $2 million. Nearly 40 percent needed to tap markets within the next six months.
The picture for the Canadian companies surveyed is even worse, with 54 percent having cash balances of less than $2 million and 49 percent needing cash in the next six months.
"The big concern is where the financing markets are going to be for the mining sector in the near future," said Carmen Diges, who heads the mining group at Miller Thomson. "I don't think ... We can look at the traditional equity markets as a source of financing for the juniors for a long time."
DESPERATE TIMES, DESPERATE MEASURES
To be sure, there are alternatives to equity financing, said Michael White, chief executive of IBK Capital, an independent investment banking firm.
"There's always the ability to raise funds through a royalty deal or stream deal and that can be done at a very early stage," said White. "Some juniors have looked at convertible debt, where the asset is the collateral or the security."
There is also the prospect of joint ventures or partnerships with larger players, and even acquisitions or mergers, but many say only companies with strong assets will attract attention or secure such deals.
And for such companies with great assets, Hodges sees hope.
"This is sort of the darkest hour just before the dawn" said Hodges. "I'm of the view that from this point forward very high quality projects and stories will get financed, it won't be a strong momentum play, it will be a rifle shot game."
We have the $500K, (even though the financier wanted and got a nasty reverse split)............so let's start digging up some gold..............
Hope our lithium property will also be explored at some time in the future.
Thanks Renee.
We need to make sure that TUCA/Rimrock does not let the lithium property go back to Alan Champagne and other claim holders for a song and a dance. I think you know what I mean.
Nemaska Lithium Inc. ("Nemaska" or the "Corporation"), (TSX VENTURE:NMX), announces that it has obtained a receipt for its final short form base shelf prospectus (the "Prospectus") from the securities regulatory authorities in the Provinces of Québec, Ontario, Alberta and British-Columbia. This Prospectus will allow the Corporation to make offerings of common shares, debt securities, convertible securities, subscription receipts and warrants (collectively, the "Securities") or any combination thereof up to a maximum of CAD$100,000,000 during the 25-month period from the Prospectus, including any amendments thereto, remains effective. Securities may be offered separately or together, in amounts, at prices and on terms to be determined based on market conditions at the time of sale and set forth in an accompanying shelf prospectus supplement and, subject to applicable regulations, may include private placements, public offerings or strategic investments.
The Corporation plans to raise capital in the next 25 months to fund the construction of a Phase 1 processing plant in Salaberry-de-Valleyfield, Québec, to make deposits for the acquisition of long lead items in connection with the construction of a mine and a concentrator on the Whabouchi property, for the completion of the feasibility study and other studies in order to obtain the required environmental permits for such property as well as for general corporate purposes.
A copy of the Prospectus may be obtained from the Corporation's Corporate Secretary by emailing info@nemaskalithium.com or directing a request to Nemaska Lithium inc. at 450, rue de la Gare-du-Palais, 1st floor, Québec (Québec) G1K 3X2, Telephone (418) 704-6038, Attn: Corporate Secretary, or can be found on SEDAR at www.sedar.com.
Good news about our lithium neighbors and their plant.
I hope that at some point Nemaska buys our lithium property and that Jordon does not let the claims expire.
Quebec, Quebec, Canada, March 1st, 2013.
Nemaska Lithium
Inc. (“Nemaska” or the “Corporation”) (TSX-V: NMX) (OTCQX: NMKEF) wishes to
clarify its February 7, 2013 press release announcing the decision to build a
Phase 1 Lithium Hydroxide and lithium carbonate Plant. The Phase 1 Lithium
Hydroxide and lithium carbonate Plant to be built in Salaberry-de-Valleyfield will
have an average combined capacity of 426 tonnes per year at 80 % plant
availability instead of the maximum 500 tpy mentioned.
About Nemaska
Nemaska intends to become a
lithium hydroxide/carbonate producer based in Quebec and has filed patent
applications for its proprietary methods to produce lithium hydroxide and
lithium carbonate. In tandem, the Company is developing one of the richest
spodumene lithium hard rock deposit in the world, both in volume and grade.
Spodumene concentrate produced at Nemaska’s Whabouchi mine and from other
global sources will be shipped to the Company’s lithium hydroxide/carbonate
processing plant located in Salaberry-de-Valleyfield, Quebec. This plant will
transform spodumene concentrate into high purity lithium hydroxide and lithium
carbonate for the growing lithium battery market. The Nemaska’s Whabouchi
deposit, located in the James Bay Region in the Province of Quebec, Canada,
near the Cree community of Nemaska, should have an initial mine life of 18
years.
Forward-looking
statements contained in this press release involve known and unknown risks,
uncertainties and other factors that may cause actual results, performance and
achievements of Nemaska to be materially different from any future results,
performance or achievements expressed or implied by the said forward-looking
statements.
Neither
TSX Venture Exchange nor its Regulation Services Provider (as that term is
defined in the policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
http://ih.advfn.com/p.php?pid=nmona&article=56594811&symbol=NMKEF
Quebec, Quebec, Canada, March 1st, 2013.
Nemaska Lithium
Inc. (“Nemaska” or the “Corporation”) (TSX-V: NMX) (OTCQX: NMKEF) wishes to
clarify its February 7, 2013 press release announcing the decision to build a
Phase 1 Lithium Hydroxide and lithium carbonate Plant. The Phase 1 Lithium
Hydroxide and lithium carbonate Plant to be built in Salaberry-de-Valleyfield will
have an average combined capacity of 426 tonnes per year at 80 % plant
availability instead of the maximum 500 tpy mentioned.
About Nemaska
Nemaska intends to become a
lithium hydroxide/carbonate producer based in Quebec and has filed patent
applications for its proprietary methods to produce lithium hydroxide and
lithium carbonate. In tandem, the Company is developing one of the richest
spodumene lithium hard rock deposit in the world, both in volume and grade.
Spodumene concentrate produced at Nemaska’s Whabouchi mine and from other
global sources will be shipped to the Company’s lithium hydroxide/carbonate
processing plant located in Salaberry-de-Valleyfield, Quebec. This plant will
transform spodumene concentrate into high purity lithium hydroxide and lithium
carbonate for the growing lithium battery market. The Nemaska’s Whabouchi
deposit, located in the James Bay Region in the Province of Quebec, Canada,
near the Cree community of Nemaska, should have an initial mine life of 18
years.
Forward-looking
statements contained in this press release involve known and unknown risks,
uncertainties and other factors that may cause actual results, performance and
achievements of Nemaska to be materially different from any future results,
performance or achievements expressed or implied by the said forward-looking
statements.
Neither
TSX Venture Exchange nor its Regulation Services Provider (as that term is
defined in the policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
http://ih.advfn.com/p.php?pid=nmona&article=56594811&symbol=NMKEF
In other words, it didn't go well otherwise the Chinese would have made a move on this word class niobium property. Scott speak at its best.
While the testing process continues in China, the exclusivity period has now elapsed and Nio-Star and Sarissa have elected not to extend it. This allows Nio-Star and Sarissa to pursue other financing and development sources that have approached them, but with which they could not pursue discussions as a result of the exclusivity period that had been granted
Nice volume. Go VSYS.
http://ih.advfn.com/p.php?pid=nmona&article=56571652&symbol=VSYS
Viscount Systems (OTCQB:VSYS), a leading-edge, high technology supplier of security systems and software, is pleased to announce that its Freedom access control technology will secure U.S. Federal Government sites outside of the continental U.S. The systems will include the Company’s Freedom Encryption Bridge technology as well as Viscount’s enrollment and revocation list software applications. In keeping with government requests the nature of the facilities and agency involved cannot be identified.
“We are very pleased to continue to build our relationship with U.S. Federal Government agencies and to expand the territorial coverage of the Freedom platform,” noted Stephen Pineau, President and CEO of Viscount. “For this and other pending projects we have also added CRL (certificate revocation list) software to our new enrollment platform, which creates additional savings for our agency customers. The cost advantages of Freedom and the fact that it is fully compliant with U.S. Government identity management/access control standards (FIPS 201-2 and HSPD-12), provides a compelling value proposition to government customers.”
About Viscount's Freedom Access Control Solution
Freedom Encryption Bridge is the first and only access control system that allows entry devices (ID cards, RFID readers, biometrics etc.) to be connected to, and controlled by, standard building IT networks without requiring expensive control panels. This eliminates up to 80% of the cost of traditional access control systems. Freedom also utilizes existing IT permission databases (Microsoft Active Directory or LDAP) to replace the software component of traditional systems. Freedom drastically reduces system costs while providing a much more secure software solution.
About Viscount Systems
Viscount Systems Inc., designs unified IT and physical security software platforms for building security and emergency planning. Recent awards include the 2012 Microsoft “Be What’s Next” Award, SIA Convergence Solution of the Year 2011 and Homeland Security Platinum Award for Emergency Response and Gold Award for Access Control at GOVSEC 2011.
Safe Harbor Statement
Forward looking statements: This press release and other statements by Viscount Systems Inc. may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act with respect to the outlook for earnings and revenues, other future financial or business performance, strategies and expectations. Forward-looking statements are typically identified by words or phrases such as "believe," "expect," "estimate," "position," "assume," "potential," "outlook," "continue," "remain," "maintain," and similar expressions, or future or conditional verbs such as "will," "would," "should," "could," or similar expressions.
Contact
Investor Relations: Foothills Group San Jose, CA 888-516-7415.
Investors@viscount.com
www.viscount.com
Rimrock Gold Corp., formerly known as Tucana Lithium Corp. (OTCQB:TUCAD) (the "Company"), is pleased to announce the appointment of Dr. Eric Nelson to the Company's Advisory Board.
Dr. Nelson, as a member of the Consultant Technical Advisory Board of the Corporation, may advise the CEO, V.P. of Exploration, and Board of Directors with regard to the geology and potential worth of mineral properties, as well as toward new corporate acquisitions and ventures. Dr. Nelson is having an exceptional career in international mineral exploration. He is an Emeritus Associate professor of structural and economic geology with the Colorado School of Mines, and he has consulted for such prominent firms as Newmont, Hochschild, AngloGold, Vale, and Evolving Gold Corp.
Dr. Nelson is a Certified Professional Geologist with AIPG, and a Qualified Person under NI 43-101. Eric has more than 20 years of exploration and mining industry experience as a top-level consultant. Eric has expertise in mineralized systems including epithermal Au-Ag and polymetallic vein deposits, porphyry systems, skarn and manto deposits, VHMS deposits, IOCG systems, Carlin-type systems, and MVT deposits. Project field sites include Australia, New Zealand, Russia, Botswana, Mexico, Guatemala, Honduras, Chile, Argentina, Perú, Brazil, and USA (Colorado, New Mexico, Nevada, Alaska). Dr. Nelson specializes in providing expert geological analysis in ore deposits exploration at mine, district, and regional scales. He has developed methods for structural analysis of prospects, deposits, and regions, methods for design of drill hole targets. Working with colleagues, post-doctoral research associates, and graduate students, Dr. Nelson has an extensive record of publications, emphasizing research in mineral deposit and resource geology.
"We are so pleased to have Dr. Nelson join our team," said Jordan Starkman, President and CEO. "Dr. Nelson's extensive experience and knowledge in our industry will no doubt provide Rimrock with significant benefits as we seek to capitalize on future opportunities," stated Mr. Starkman.
The Company's main exploration assets consists of 177 map-designated cells totaling 9,400 hectares named Abigail located in the James Bay, Quebec region of Canada, along with 12 map-designated cells just north of the Abigail property named Lac Kame and 25 map-designated cells named EM-1 totaling approximately 1,960 hectares. The Company also now holds a 100% interest in three Nevada Gold properties named Rimrock, Silver Cloud, and Pony Spur.
The Rimrock Gold Corp. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=17106
CONTACT: Rimrock Gold Corp.
Jordan Starkman, CEO
www.rimrockgold.com
1-800-854-7970
Well, we have $500K to do some exploring with....if they get good results we will be off to the races once again............back up to...... who really knows...we also need investors back in these speculative stocks............
That's the problem. Peeps don't research and don't know a scam from a company that actually owns property with proven up reserves. Our gain, their loss.
Playing miners with proven reserves and holding for 1 to 2 years has been extremely profitable for me, one went from .10 to $2.40 the other went from $16.00 to $30.00, did a 2 for 1 forward split and then ran from $15.00 to $32.00
Know what you own and know your timelines, not much risk if the reserves are proven.
What is your average?
For me .75 would be very nice indeed. I think you mean't .15. I would take .15 too but am waiting for more.
VSYS is going places and I want to be there when it does.
It's all about buying in at the right price.
You are about two weeks away from understanding what this company has as potential... you sure you want to discredit your own investment?
I like what I see.
Rimrock's Strategic Advisory Board
ARI BLAINE
Mr. Blaine is a Partner with Uptick Capital, a financial consulting firm which advises public and private companies. In addition, Mr. Blaine is the CEO of Zahav Resources and the non-executive founder of Rimrock Gold. Prior to forming Uptick Capital Mr. Blaine was a Managing Partner of Samson Strategic, a long short equity hedge fund from 2001-2005. From 1992 to 2001 Mr. Blaine was a Managing Director at Sands Brothers & Co., a member firm of the NYSE where he managed assets for high net worth individuals and small institutions. Mr. Blaine was also the Trustee of the Retirement and Pension Fund at Sands Brothers and a founding member of the Round Table Committee which formulated investments ideas for the firm. From 1989 to 1992 Mr. Blaine was a Senior Auditor at the firm Deloitte and Touche, servicing clients such as Merrill Lynch and TIAA- CREF. Mr. Blaine graduated in 1989 from Yeshiva University’s Syms School of Business.
ALAIN CHAMPAGNE
Mr. Champagne has more than 30 years experience developing, structuring and financing public and private companies in the mining sector. Mr. Champagne is currently the CEO of Minexco, a private mining consulting company. Mr. Champagne in addition to Minexco owns a drilling rig company in Canada. Mr. Champagne is a significant shareholder, and was instrumental in the formation of Nemaska Lithium (NMX) on the TSX Venture Exchange as well as Monarques Resources ( MQR) on the TSX Venture Exchange.
Nearly had a miner (MINOR LOL) heart attack. Let's see 200,000 in volume at .60.
Getting financing to look for gold in NV seems a lot easier than securing funds for the lithium property and lithium exploration.
I think this is just the beginning of the exploration budget. They get some favorable results and I'm confident more money will follow.
Looking forward to hearing about Rimrocks next moves.
$500,000 gets our exploration started.
That's what.
No conversion yet on Zecco/Tradeking.
The reverse split was a big hit, but it got the company the $500,000 to explore for gold.
Rimrock has $500,000 to start with its gold exploration program.
There's money out there for gold properties. We still have Abigail too.
yes, Nemaska is moving right along. Rimrock still owns the lithium property.
Who knows, maybe Nemaska will purchase that property.
Hey Renee,
Long time no chat.
I hope that TUCAD can raise the cash for exploration of the rimrock gold properties in NV.
Not happy about the one for 8 reverse split.
D
If you are not happy....I suggest you sell. I;m sure someone will buy your shares. VSYS is doing well getting all these contracts.
Volume here. More contracts and more volume.
He is a major shareholder in TUCA and I assume, has voted to approve the acquisition of the gold property and focus TUCA towards gold in Nevada.
Easier to get financing to explore gold than lithium. Lots of juniors own a variety of properties.
The more Alain Champagne looked at it, the more excited he got.....hence we now own this gold property. Easier to get money to finance gold exploration with an NI on it.
Like I said, there are some happy folks with 300%, LMAO
I have to agree with you Flex.
Gold is on the horizon.
More contracts!
$500K funding will become available
MOney for exploration, I hope.
News coming???? <<<WOLV..Just sayin..Somebody is buying for a reason!
Man, calling .008 PPS low? It is low, but when compared to a .0001 no bid stock, it's pretty darn high, lmao.
Perhaps they will get funds to mine for gold. Does this property have an NI done on it?
LOL
Only time will tell, mate!
Go LFC!
Very tightly. Not giving up on this one.
This is one time I hope the chart is right. I wanna get back to .15 again!
Please continue to post charts!
More and more contracts = more revenue, I agree.
Nice 20% bump up today. Let's see some volume spikes too.