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and then another block of 32K at $4.97...
A/H block trade at $5.27
IYXI, I'm not too optimistic about the buyout still happening, but...
Inyx: UK Court-Named Administrator Takes Control Of UK UnitsLast update: 7/3/2007 8:14:55 AM DOW JONES NEWSWIRES
Pharmaceutical firm Inyx Inc. (IYXI) said Tuesday that a U.K. court-appointed administrator took control of the company's three U.K. units after its main lender accelerated loan repayments.
Tuesday, Inyx disclosed in court filings that Inyx USA Ltd. and Exaeris Inc., the company's U.S. units, filed for bankruptcy protection in Wilmington, Del., but it didn't say what led to the move.
In a filing Tuesday with the Securities and Exchange Commission, Inyx provided details surrounding the matter, saying the lender alleged Inyx Pharma Ltd., Inyx Europe Ltd. and Ashton Pharmaceuticals Ltd. - the three U.K. units - defaulted on the loans by not adhering to loan agreement conditions.
Inyx said the company, Inyx USA, and Chairman and Chief Executive Jack Kachkar, sued the lender in New York State Supreme Court for at least $500 million in damages. The lawsuit, filed Friday, alleges the lender acted in an unreasonable manner by blocking the flow of funds from Inyx and Inyx USA customers to the company, preventing them from paying off debt.
On Friday, lender Westernbank Puerto Rico issued a demand for the immediate payment by the company and its U.K. and U.S. units for all loans.
Inyx said the U.S. units filed for Chapter 11 protection "as an additional measure to protect the company against further potential damaging actions by Westernbank."
Inyx, which has more than 575 employees in North America and Europe, said the CEO-led group's will continue in its attempts to buy out the company, but any such deals may be postponed as it grapples with the current problems. The group has proposed a $3.01-a-share offer to take the company private.
The company said the CEO plans to provide financing to the company and to the U.S. units to enable them to continue their operations.
-Bhattiprolu Murti, Dow Jones Newswires; 202-862-1357 (END) Dow Jones NewswiresJuly 03, 2007 08:14 ET (12:14 GMT)Cop
IYXI-here is the only confirmation I've seen...
DJ Pharmaceutical Firm Inyx USA Files For Ch 11 Bankruptcy
2:29 p.m. 07/02/2007 Provided by
By Patrick Fitzgerald
Of DOW JONES NEWSWIRES
Pharmaceutical firm Inyx USA Ltd. Tuesday filed for Chapter 11 protection in U.S. Bankruptcy Court in Wilmington, Del.
Based in Manati, Puerto Rico, Inyx USA manufactures inhalation-therapy and dermatology products. The company listed assets and debts each between $1 million and $100 million.
Also filing for bankruptcy protection was affiliate Exaeris Inc., headquartered in Exton, Pa. Both companies are owned by New York-based Inyx Inc.
No reason was given for the bankruptcy filing in court papers.
Inyx representatives couldn't be reached for comment.
Shares of Inyx Inc, which are listed over the counter, were trading at $1.05 each Monday afternoon.
Earlier this year, parent Inyx said it needed to restate its financial results for the first, second and third quarters of 2006.
According to the company's Web site, Inyx Inc. employs a total of over 575 people in North America and Europe.
Inyx USA's bankruptcy case will be handled by Fox Rothschild LLC.
The case number is 07-10888. Judge Kevin Gross has been assigned the case.
-Patrick Fitzgerald, Dow Jones Newswires; 202-862-3544; patrick.fitzgerald@dowjones.com
IYXI-unreal. I can't find any filing at this point so I'm holding and hoping for the best but it doesn't look good. Maybe the buyout proposal was phony? Maybe insiders dumped their shares when IYXI started trading on the pinksheets? The VP lied to me about a "timetable of events" being issued, which never happened. Not too happy....
Its been near record high temperatures in the Northeast this week. Should be helping to move IEAM's products off the shelves.
Could be financing shares hitting the market? Last time SUWN issued a strong pr (regarding the stevia soda deal), there was a mysterious high volume selloff. Maybe they are using the pr's to help soak up the shares being sold? I don't think any downturn will be significant w/ all this exciting news coming out of SUWN...
Larry. SUWN +.125 to .715. Nice move and no sell-off (yet). Maybe the selling of financing shares has been exhausted.
Today is the first time I've seen the actual names of stores selling OnlySweet in print (see below). After today's soda deal, maybe people are realizing stevia could become the new and improved Splenda, and SUWN's OnlySweet is leading the stevia charge. I for one don't drink soda because of the high sugar, nor diet soda because of the chemical sweeteners. However, I'd definately be interested in trying an all natural, sugar free soda. I think a lot of people would switch to stevia and stevia products if given the alternative, even if they cost more. Hopefully the deals keep rolling in...
--------------------------------------------------------
New stevia product enters sweetener aisles as awareness increases
By Lorraine Heller
6/20/2007 - A new stevia sweetener product has made its way into a number of leading US retailers, where its manufacturer claims it is placed side by side with the nation's top sweetener brands, despite its regulatory status as a dietary supplement.
The move, claims manufacturer Sunwin Stevia International, is a clear indication that the market is ready to embrace a more 'natural' sweetener alternative, as consumers become increasingly concerned about artificial products.
For the time being, the company is focusing on the retail market, but according to Sunwin executive vice president Steven Silbert, the potential of supplying the food and beverage industry has "not been discounted" by the firm.
Stevia, derived from the South American plant stevia rebaudiana, is said to have up to 300 times the sweetness of sugar. As a sweetener, stevia's taste has a slower onset and longer duration than that of sugar, although some of its extracts may have a bitter or liquorice-like aftertaste at high concentrations.
It is not currently approved in the United States or Europe as a food additive, due to a lack of adequate information on its safety. However, the ingredient is approved as a food additive in around a dozen other countries, including Japan, Brazil and China.
In the US, stevia is approved for use as a dietary supplement. It has so far been available in 'green' stores, where a niche sector of health-aware consumers has traditionally purchased it for its sweetener properties.
But Sunwin now says it has got its product, OnlySweet, onto the shelves of Kroger, Schnucks, Brookshire and Albertsons.
"We're being placed on the shelves of thousands of outlets - we're in the sweetener aisle, sitting right next to the top three sweetener products in the world," said Silbert.
"It is not necessarily a negative that the product is listed as a dietary supplement - we're creating a lot of awareness as to what the product is, and it's already a large achievement to get it into stores alongside the sweeteners."
OnlySweet, a stevia blend also containing maltodextrin and a proprietary flavoring agent that masks stevia's better aftertaste, only entered the retail market in December last year, but Sunwin has high hopes for its future.
It expects to have its product in 3,000 grocery outlets by July. The firm, which is a subsidiary of a leading stevia manufacturer Sunwin International Neutraceuticals, said it is well positioned for "accelerated future growth" due to its ability to produce a consistent supply of premium grade stevia.
Silbert said that although the company's main focus remains retail, it is also meeting with certain manufacturers to explore the possibility of supplying the product as an ingredient for the food and beverage industry.
"It's a potentially big avenue for our product, especially if the status of stevia changes," he said.
Indeed, there have been rumors that the US Food and Drug Administration (FDA) could be petitioned to approve stevia as a food additive.
Public awareness of the ingredient shot up earlier this month, after the Wall Street Journal revealed that big players Coca-Cola and Cargill were teaming up to market a stevia sweetener product. Coca-Cola has filed 24 patent applications for the ingredient in the US.
According to the article, the two firms are gathering data on the ingredient in order to apply for FDA approval.
If this is granted, the market for sweeteners could be set for a major shift.
"We believe this is going to shape the sweetener industry," said Silbert. "Sales of diet sodas are down because people are concerned about things like aspartame and sucralose. They're looking for something more natural."
"We're seeing an incredibly dynamic set of circumstances in the market," he told FoodNAvigator-USA.com.
"We don't use the word 'sweetener' to market our product due to current FDA regulations. But if these change based on what Coke and Cargill are doing, then we'll change our position too."
http://foodnavigator-usa.com/news/ng.asp?n=77517-sunwin-stevia-international-sweeteners-stevia
IYXI. Hopefully this is the prelude to the final buyout announcement. I emailed VP Jay Green a few days ago, asking what happened to that timetable of events pr he told me was forthcoming a few weeks ago...and he never responded.
Thanks shomlton. I thought he also mentioned what IEAM's business was, but I guess I imagined that...
Hopefully this helps IEAM get on the radar of investors and traders so Pike and Mazzuto aren't the only ones buying.
More on SUWN
New stevia product enters sweetener aisles as awareness increases
By Lorraine Heller
6/20/2007 - A new stevia sweetener product has made its way into a number of leading US retailers, where its manufacturer claims it is placed side by side with the nation's top sweetener brands, despite its regulatory status as a dietary supplement.
The move, claims manufacturer Sunwin Stevia International, is a clear indication that the market is ready to embrace a more 'natural' sweetener alternative, as consumers become increasingly concerned about artificial products.
For the time being, the company is focusing on the retail market, but according to Sunwin executive vice president Steven Silbert, the potential of supplying the food and beverage industry has "not been discounted" by the firm.
Stevia, derived from the South American plant stevia rebaudiana, is said to have up to 300 times the sweetness of sugar. As a sweetener, stevia's taste has a slower onset and longer duration than that of sugar, although some of its extracts may have a bitter or liquorice-like aftertaste at high concentrations.
It is not currently approved in the United States or Europe as a food additive, due to a lack of adequate information on its safety. However, the ingredient is approved as a food additive in around a dozen other countries, including Japan, Brazil and China.
In the US, stevia is approved for use as a dietary supplement. It has so far been available in 'green' stores, where a niche sector of health-aware consumers has traditionally purchased it for its sweetener properties.
But Sunwin now says it has got its product, OnlySweet, onto the shelves of Kroger, Schnucks, Brookshire and Albertsons.
"We're being placed on the shelves of thousands of outlets - we're in the sweetener aisle, sitting right next to the top three sweetener products in the world," said Silbert.
"It is not necessarily a negative that the product is listed as a dietary supplement - we're creating a lot of awareness as to what the product is, and it's already a large achievement to get it into stores alongside the sweeteners."
OnlySweet, a stevia blend also containing maltodextrin and a proprietary flavoring agent that masks stevia's better aftertaste, only entered the retail market in December last year, but Sunwin has high hopes for its future.
It expects to have its product in 3,000 grocery outlets by July. The firm, which is a subsidiary of a leading stevia manufacturer Sunwin International Neutraceuticals, said it is well positioned for "accelerated future growth" due to its ability to produce a consistent supply of premium grade stevia.
Silbert said that although the company's main focus remains retail, it is also meeting with certain manufacturers to explore the possibility of supplying the product as an ingredient for the food and beverage industry.
"It's a potentially big avenue for our product, especially if the status of stevia changes," he said.
Indeed, there have been rumors that the US Food and Drug Administration (FDA) could be petitioned to approve stevia as a food additive.
Public awareness of the ingredient shot up earlier this month, after the Wall Street Journal revealed that big players Coca-Cola and Cargill were teaming up to market a stevia sweetener product. Coca-Cola has filed 24 patent applications for the ingredient in the US.
According to the article, the two firms are gathering data on the ingredient in order to apply for FDA approval.
If this is granted, the market for sweeteners could be set for a major shift.
"We believe this is going to shape the sweetener industry," said Silbert. "Sales of diet sodas are down because people are concerned about things like aspartame and sucralose. They're looking for something more natural."
"We're seeing an incredibly dynamic set of circumstances in the market," he told FoodNAvigator-USA.com.
"We don't use the word 'sweetener' to market our product due to current FDA regulations. But if these change based on what Coke and Cargill are doing, then we'll change our position too."
http://foodnavigator-usa.com/news/ng.asp?n=77517-sunwin-stevia-international-sweeteners-stevia
He said IEAM and SNKI were 2 undiscovered value plays. Explained what business each was in and mentioned IEAM was trading at 4X earnings (which is somewhat questionable). I barely caught anything else he said because I ran over to the computer to inform this board.
Steve Massocca (from Pacific Crest Securities) just gave a plug to IEAM on CNBC! Said it only trades at 4x earnings. Should give us some exposure. I've heard this guy on the cc before.
Steve Massocca just gave a plug to IEAM and SNKI on CNBC. VMCer?
SUWN - OnlySweet to be used in a line of sodas.
TAMARAC, FL--(MARKET WIRE)--Jun 20, 2007 -- Sunwin Stevia International Corp., a wholly owned subsidiary of Sunwin Neutraceuticals, Inc. (OTC BB:SUWN.OB - News), announced today that it has received a purchase order for its OnlySweet(TM) stevia to be used in a line of low calorie Cola, Orange Soda, and Lemon Lime Twist Soft Drinks.
Steven Silbert, Executive Vice President of Sunwin Stevia International Corp., states, "We have been approached by numerous companies that have expressed an interest in utilizing stevia produced by our parent company, Sunwin Neutraceuticals, as well as our blended product OnlySweet(TM) for utilization in the food and beverage industry. In the United States these products would be labeled as a dietary supplement in accordance with FDA requirements. While our focus is on the distribution and sales growth of OnlySweet(TM), we also understand the value of positioning our product as an ingredient in a wide variety of 'All Natural' dietary supplement products. We are currently assessing the market, as well as the companies that have approached us, to ensure that any potential strategic relationships will benefit the company and enhance our product offerings over the coming years. The recent attention regarding stevia, due to articles in several national publications, has sparked a flurry of activity which we believe will lead to significant revenue opportunities in the near future."
ABOUT ONLYSWEET(TM)
OnlySweet(TM) is a proprietary blend that comes in 100ct and 200ct 1-gram packages. The company is currently working on a baking product that is scheduled to be available to consumers in the near future. The product is currently labeled as a dietary supplement in accordance with FDA requirements. OnlySweet(TM) is all natural and contains Zero Calories.
OnlySweet(TM) is blended in an FDA approved facility in the greater Chicago area that provides similar services to some of the most well known brands in the food industry. They insure that the highest levels of quality control protocol are performed on each and every run of our product.
The stevia in OnlySweet(TM) comes from its parent company Sunwin International Neutraceuticals Inc. (OTC BB:SUWN.OB - News), one of the world's largest manufacturers and distributors of stevia in the world. This insures consistency and quality in every package of our product. We believe that OnlySweet(TM) is the best tasting stevia product on the market. Our product will be priced between 40 to 50% less then the majority of our competitors, therefore making it affordable to the masses.
About Sunwin Stevia International Corp.
Sunwin Stevia International Corp., a wholly owned subsidiary of Sunwin International Neutraceuticals, Inc. (OTC BB:SUWN.OB - News), is the maker of the Only Sweet(TM) line in North America sold in major grocery outlets in North America. For more information about Only Sweet(TM), please visit http://www.onlysweet.com. For more info about Sunwin family, please visit http://www.sunwin.biz
Nice recognition. Over 450,000 votes cast, so people are discovering answers.com.
But JP Morgan says Gold may hit 1000. Who will be correct?
------------------------------------------------------------
Gold may touch $1000: JP Morgan
Bloomberg / Mumbai June 08, 2007
Gold may rise to more than $1,000 an ounce as demand from India, China and exchange traded funds increases and production of precious metal falls, according to JP Morgan Chase & Co., the third-largest US bank.
Gold, which has risen 5.2 per cent this year, may reach $850 an ounce in the “medium term,’’ on the way to $1,000, analysts from JP Morgan led by John Bridges said in the report dated June 6. They didn’t specify what the medium term was.
Gold-mining companies reduced output to a 10-year low of 2,471 metric tons in 2006, according to London-based researcher GFMS Ltd. Demand for gold from India, the world’s largest buyer, rose 50 percent in the first quarter of 2007 while demand in China gained 31 percent, according to the World Gold Council.
“We would continue accumulating gold and silver positions looking to higher prices by year-end,’’ the analysts said. “A four-figure gold price looks quite feasible to us given the tight supply demand situation in the gold market.’’
Gold for immediate delivery fell as much as $1.30, or 0.2 percent, to $669.45 an ounce and traded at $670 at 11:56 am Sydney time. Silver for immediate delivery fell 1 cent to $13.69 an ounce.
Demand from this year’s Indian wedding season, the Chinese year of the ‘Golden Pig,’ and purchases by exchange traded funds may boost prices, the analysts led by Bridges said in the report.
I meant to post this last week. Gold bull Frank Barbera thinks gold is in for a drop:
http://www.thestreet.com/_googlen/markets/metals/10361321.html?cm_ven=GOOGLEN&cm_cat=FREE&cm...
SVLF looks pretty cheap. Closed at $4.70. Up AH.
Silverleaf Resorts, Inc. Announces Increased Full Year Guidance
Thursday June 14, 4:15 pm ET
DALLAS--(BUSINESS WIRE)--Silverleaf Resorts, Inc. (Nasdaq:SVLF - News) today announced that it is raising its full-year net income guidance from $25.5 million to a range of $27.5 million to $28.5 million ($0.70 to $0.72 per fully diluted share).
The increased guidance is the result of higher than expected Vacation Interval sales and interest income. The company has maintained margins and believes it is now on pace to produce full-year net income of between $27.5 million and $28.5 million which represents a 20% to 24% increase over full-year 2006 results.
Sharon K. Brayfield, President, commented, "We are pleased with our overall operating results thus far into the second quarter and we feel confident that we are well positioned to meet our revised net income guidance for 2007 of $27.5 to $28.5 million."
About Silverleaf Resorts
Based in Dallas, Texas, Silverleaf Resorts, Inc. currently owns and operates timeshare resorts with a wide array of country club-like amenities, such as golf, clubhouses, swimming, tennis, boating, and many organized activities for children and adults. For additional information, please visit www.silverleafresorts.com.
This release contains certain forward-looking statements that involve risks and uncertainties and actual results may differ materially from those anticipated. The Company is subject to specific risks associated with the timeshare industry, the regulatory environment, and various economic factors. These risks and others are more fully discussed under the heading "Risk Factors" in the Company's reports filed with the Securities and Exchange Commission, including the Company's 2006 Annual Report on Form 10-K (pages 21 through 30 thereof) filed on March 16, 2007.
For more information or to visit our website, click here: http://www.b2i.us/irpass.asp?BzID=1358&Nav=0&S=0&L=1
Contact:
Silverleaf Resorts, Inc., Dallas
Thomas J. Morris, 214-631-1166 x2218
or
ICR, Inc.
Investor Relations
Willliam R. Schmitt, 203-682-8200
or
Media
Alecia Pullman, 212-710-6460
Looks like Roo is gearing up to move onto a nation exchange like the NASDAQ. Now if only the share price will cooperate (and the financials improve)...
ROO Announces Three Additions to Board of Directors
Wednesday May 30, 8:00 am ET
NEW YORK, May 30 /PRNewswire-FirstCall/ -- ROO Group Inc. (OTC Bulletin Board: RGRP - News), a global leader in online video solutions for content providers, advertisers and Web sites, today announced the appointment of Simon Bax, Stephen Palley, and Scott Ackerman to its Board of Directors, effective immediately. The additions increase the size of ROO's Board to six members, including four independent directors. The new board members join current members Robert Petty, Chairman and CEO, ROO Group; Robin Smyth, Executive Director, ROO Group and Doug Chertok, an independent director.
ADVERTISEMENT
"The addition of Simon, Stephen, and Scott brings a unique combination of media, entertainment, financial and operational expertise to our Board," stated Robert Petty, Chairman and CEO. "We look forward to benefiting from their diverse array of strengths as we enter our next stage of growth and continue building our leadership position in the online broadcasting sector."
Mr. Bax, 48, is a media and entertainment industry veteran, having most recently served as Executive Vice President and Chief Financial Officer at Pixar Animation Studios. Previously, Mr. Bax spent seven years as Chief Financial Officer of Fox Filmed Entertainment where he was responsible for a variety of functions related to the worldwide production and distribution of all films produced by the motion picture group. In addition, Mr. Bax was responsible for the financial operations of Twentieth Century Fox Television, the network television production company, and Fox TV Studios. From 2003 to 2006, Mr. Bax served as the Chairman of SmartJog S.A., a technology start-up specializing in secure digital content delivery.
Mr. Palley, 62, is currently an Executive Director of Pali Capital, a full service broker dealer serving institutional and private investors. Mr. Palley was previously CEO of Source Media, a provider of interactive television applications. He also spent three years as a telecommunications industry consultant. From 1986 to 1996, Mr. Palley held the position of Chief Operating Officer of King World Productions, Inc., a leading television syndicator. He also brings experience in securities and entertainment law and is a member of the New York State Bar.
Mr. Ackerman, 49, is a practicing certified public accountant in the State of New York and a Partner at Wagner, Francis, Richman & Ackerman PLLC, where he has served since 1980. His areas of expertise include corporate finance, taxation, and automated accounting system implementation. Mr. Ackerman is a member of the American Institute of Certified Public Accountants and the New York State Society of Certified Public Accountants.
ROO Group Started At Buy At Cantor Fitzgerald
Last update: 5/30/2007 4:08:58 PM(END)
Dow Jones Newswires
May 30, 2007 16:08 ET (20:08 GMT)
Thanks abh3vt.
shmolton, I think Mazzuto has stated in the last 2 conference calls that the warrant selling should be completed by the end of FY07, which ends June 30th. Hopefully he is right and we can be done with all of the confusing reporting of quarterly numbers (and selling). Not sure how many are left at this point....
Another Form 4 today, this time from Mazzuto. 100,000 share purchase at $4.11. The stock hasn't been that low for some time so this must be a prearranged transaction...?
SC 13D/A out today from Pike:
"Collectively, the Reporting Persons beneficially own 3,200,000 shares of Common Stock representing 24.1% of the outstanding shares of Common Stock."
http://www.pinksheets.com/quote/print_filings.jsp?url=%2Fredirect.asp%3Ffilename%3D0001013594%252D07...
I'm praying it works out for him...
Just got my 100 NWMO shares in my Ameritrade Izone account. That worked out well! I think I'll hold my shares for a little while...
Pike is buying entirely for themselves (I confirmed this w/ Chris Witty). They filed a string of Form 4's last night, making their large stake larger.
nsomniyak, IYXIE.ob:
INYX's VP Jay Green told me they will be issuing a pr sometime next week detailing a timeline going forward. Hopefully the 2006 audit gets done soon and the $3.01 buyout gets finalized....we'll see
KIK, my guess is 39%. Thanks
I'm listening to a replay of the call now. Sounds like the CFO had a heart attack. IEAM has a new corporate website, but it is still in beta testing:
http://www.industrialenterprisesinc.com
I found this from a 11/05 Grant Thornton presentation:
"Automotive aftermarket manufacturing public companies currently trade at a median valuation of 7.9x trailing twelve month EBITDA."
If IEAM does around $1.20 in EBITDA next FY, fair valuation based on this information would infer @ a $9.50 stock price (if they hit guidance).
http://www.grantthornton.com/staticfiles/GTCom/files/services/InvestmentBanking/auto_electronic.pdf
Nice buy, shmolton. IEAM is now green! I haven't had a chance to listen to the cc yet, but judging by the huge volume and stock movement, there are many opinions of the call and results....
I E A M-the non-cash charges should disappear by the end of FY07 (which is the Q ending 6/30), so they should be able to report "clean" EPS after that. I agree, the numbers are below the CEO's projections but are still acceptable. The Chinese JV should contribute significantly to IEAM's future and I am looking forward to hearing the progress on this front in the cc.
I question whether O'Neill has even started his CFO post yet. An 8K just came out 5/15 detailing the new operations guy's (Dan Redmond) compensation, but O'Neill's compensation is/was supposed to be decided by the board (and as far as I can tell, this has yet to be decided). Maybe they are still negotiating the details of his contract and he isn't offially crunching numbers yet? Whatever the case, I think shareholders were disappointed to see another NT filed after Mazzuto's last cc promise. However, earnings will ultimately rule the day...let's hope they are close to Mazzuto's projections.
WAG - 5/25/07 8:45 PM
Industrial Enterprises of America Delays Fiscal 2007 Third Quarter Filing
Tuesday May 15, 1:11 pm ET
NEW YORK--(BUSINESS WIRE)--Industrial Enterprises of America, Inc. (OTC BB:IEAM - News), a specialty automotive aftermarket supplier, today announced it will file a Form 12b-25 with the Securities and Exchange Commission for an automatic five day extension to file its Quarterly Report on Form 10-Q for the period ended March 31, 2007. Due to the sudden illness of the Company's recently-appointed CFO, Dennis O'Neill, Industrial Enterprises requires additional time to complete the remaining work necessary to file its Quarterly Report on Form 10-QSB. The Company now plans to file its fiscal third quarter results on May 22, 2007. Effective immediately, as Mr. O'Neill is recovering, current CEO John Mazzuto will serve as acting CFO. Details regarding the Company's third quarter earnings conference call will be provided in a subsequent press release.
Additionally, Industrial Enterprises of America is holding an investor and analyst tour of its Pitt Penn Facility on June 6, 2007. If you are a professional investor or analyst and would like to attend the facility tour or have questions concerning this event, please call either Chris Witty of Lippert Heilshorn at 212-838-3777 or David Zazoff of Industrial Enterprises of America at 212-505-5976.
ADA.V news
ACADIAN GOLD INTERSECTS 2.91 METRES GRADING 20.41 G/T GOLD ON ITS 100% OWNED GOLDENVILLE PROJECT, NOVA SCOTIA
Halifax, Nova Scotia CANADA, May 10, 2007 /FSC/ - Acadian Gold Corporation (ADA - TSX Venture), ("Acadian Gold") announced the results of 8 drill holes today from a first phase diamond drilling program on it's 100% owned Goldenville gold property, in Nova Scotia, Canada. All drill holes with the exception of one, intersected multiple gold mineralized veins in this advanced stage project being targeted for its underground potential.
Drill holes of particular note include drill hole GV06-04 which intersected 20.41g/t over a true width of 2.91metres and 60.43g/t over a true width of 1.2 metres; GV06-03, which intersected 2.81g/t over a true width of 3 metres; and drill hole GV06-05 which intersected 26.15g/t over a true width of 1.2 metres. Details of assays results for the 8 drill holes are provided in Table 1 below.
-***-
Table 1- Significant Drill Results
-----------------------------------------------------------------
Hole From To Interval True Au g/t
(m) Width Uncut
-----------------------------------------------------------------
GV06-01 64.80 66.19 1.39 1.20 3.16
-----------------------------------------------------------------
GV06-01 89.80 91.19 1.39 1.20 0.78
-----------------------------------------------------------------
GV06-01 105.80 107.19 1.39 1.20 1.36
-----------------------------------------------------------------
GV06-01 123.80 125.19 1.39 1.20 0.87
-----------------------------------------------------------------
GV06-01 131.61 133.0 1.39 1.20 1.30
-----------------------------------------------------------------
-----------------------------------------------------------------
GV06-02 62.88 64.12 1.24 1.20 1.89
-----------------------------------------------------------------
-----------------------------------------------------------------
GV06-03 45.00 48.00 3.00 3.00 2.81
-----------------------------------------------------------------
GV06-03 66.90 68.10 1.20 1.20 4.33
-----------------------------------------------------------------
GV06-03 133.90 135.10 1.20 1.20 2.79
-----------------------------------------------------------------
GV06-03 197.90 199.10 1.20 1.20 2.08
-----------------------------------------------------------------
-----------------------------------------------------------------
GV06-04 7.00 10.00 3.00 2.91 20.41
-----------------------------------------------------------------
GV06-04 17.76 19.00 1.24 1.20 60.43
-----------------------------------------------------------------
GV06-04 99.76 101.00 1.24 1.20 3.63
-----------------------------------------------------------------
GV06-04 124.88 126.12 1.24 1.20 0.98
-----------------------------------------------------------------
GV06-04 171.00 175.00 4.00 3.88 1.96
-----------------------------------------------------------------
GV06-04 207.00 208.24 1.24 1.20 1.51
-----------------------------------------------------------------
GV06-04 218.76 220.00 1.24 1.20 2.61
-----------------------------------------------------------------
GV06-04 225.00 226.24 1.24 1.20 1.64
-----------------------------------------------------------------
GV06-04 284.76 286.00 1.24 1.20 2.36
-----------------------------------------------------------------
GV06-05 35.43 37.00 1.57 1.20 2.93
-----------------------------------------------------------------
GV06-05 43.00 46.00 3.00 2.31 1.04
-----------------------------------------------------------------
GV06-05 70.72 72.29 1.57 1.20 1.06
-----------------------------------------------------------------
GV06-05 78.43 80.00 1.57 1.20 0.73
-----------------------------------------------------------------
GV06-05 84.43 86.00 1.57 1.20 26.15
-----------------------------------------------------------------
GV06-05 105.43 107.00 1.57 1.20 4.05
-----------------------------------------------------------------
-----------------------------------------------------------------
GV06-06 9.68 11.00 1.32 1.20 2.86
-----------------------------------------------------------------
GV06-06 28.84 30.16 1.32 1.20 1.03
-----------------------------------------------------------------
GV06-06 62.68 64.00 1.32 1.20 1.54
-----------------------------------------------------------------
GV06-06 70.84 72.16 1.32 1.20 9.58
-----------------------------------------------------------------
-----------------------------------------------------------------
GV06-07 13.00 14.20 1.20 1.20 4.42
-----------------------------------------------------------------
GV06-07 85.90 87.10 1.20 1.20 2.14
-----------------------------------------------------------------
GV06-07 100.90 102.10 1.20 1.20 1.79
-----------------------------------------------------------------
GV06-07 122.90 124.10 1.20 1.20 0.95
-----------------------------------------------------------------
-----------------------------------------------------------------
GV06-08 17.61 19.00 1.39 1.20 1.67
-----------------------------------------------------------------
GV06-08 117.00 118.39 1.39 1.20 5.35
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GV06-08 131.80 133.19 1.39 1.20 8.60
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-****-
Sampling was completed at 1 metre intervals along the hole length and mineralized intercepts were calculated over a minimum true width of 1.2 metres.
Although a portion of the drill hole intercepts are low grade, these are considered of high interest at Goldenville which is characterized by coarse gold in stacked gold mineralized shoots in multiple bedding parallel quartz veins. Goldenville is the largest past producer in Nova Scotia with historic production of 212,000 ounces of gold to a depth of approximately 200 metres. Acadian Gold has previously announced on March 2, 2005, National Instrument 43-101 compliant indicated and inferred resources totalling 33,429 ounces of gold (62,554 tonnes grading 16.62 g/t (uncut)) and 232,242 ounces of gold (384,596 tonnes grading 18.78 g/t (uncut)) respectively. The bulk of these resources are within 200 metres of surface.
The initial drill results reported above are in line with expectations and merit proceeding to a 2nd phase drill program. The objective of the drill programs is upgrade the category of resources currently classified as inferred to indicated, and to add ounces to the current resource totals. Drilling is being focused on targets, in the general vicinity of the Stuart Shaft which was modernized in the 1980's. The Stuart Shaft and associated underground infrastructure represents a considerable savings in time and capital costs at such time Acadian Gold makes a decision to re-open the mine.
The Goldenville property is one of the key properties in the Company's concept of developing multiple gold deposits and treating the gold bearing material in a central mill.
Acadian controls the mineral claims comprising the Goldenville Mine property and covering 8 kilometres of strike length. Approximately 110 gold bearing quartz veins are reported to occur over an approximate width of 156 metres. Some of these were mined on both the north and south limbs of the anticlinal structures. The eastern portion of the anticline is characterized by saddle veins which are reported (Faribault, Canadian Geological Survey, 1903) to be amongst the largest in the Nova Scotia goldfields.
Acadians' focus is the 1.25 kilometre zone between the Stuart Shaft and the Bluenose Shaft (Stuart-Bluenose Zone). This zone is the location of historic production of 212,000 ounces of gold, over and above the resources of 33,429 ounces (uncut; indicated category) and 232,242 ounces (uncut; inferred category) reported in 2005. The deepest drill hole intercept to date at Goldenville is in the Stuart-Bluenose Zone which assayed 14.67 g/t gold over 1.2 metres at a vertical depth of 317 metres. This demonstrates the depth potential of Goldenville.
The Goldenville Mine property is an advanced exploration/development project which boasts a large historic database generated from exploration programs completed in the 1980s. In addition to 29,074 metres of diamond drilling in 142 drill holes, the three compartment Stuart Shaft was rehabilitated to the 183 metre level which could expediate the development when the decision to go underground is made.
-***-
Table 2: Drill Hole Locations
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Easting Northing
(MPH (MPH Length Easting Northing
HOLE# grid) grid) (m) Azimuth Dip (NAD27) (NAD27)
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GV2006-01 10695.0 10010.0 135.0 350 -50 577975 4996992
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GV2006-02 10525.0 10128.0 81.0 117 -60 577801 4997082
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GV2006-03 9800.0 10200.0 224.0 170 -50 577071 4997066
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GV2006-04 9690.0 10375.0 303.0 170 -60 576937 4997203
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GV2006-05 10175.0 9975.0 156.5 350 -45 577467 4996903
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GV2006-06 10080.0 10165.0 99.0 170 -70 577333 4997062
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GV2006-07 10000.0 10230.0 140.0 170 -50 577275 4997115
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GV2006-08 11090.0 10040.0 141.0 350 -50 578362 4997077
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-****-
About Acadian Gold
Acadian Gold is a Halifax, Nova Scotia, Canada based resource company which has brought a zinc-lead mine, Scotia Mine, located at Gays River, Nova Scotia into operation. In addition to bringing a new mine on stream, Acadian Gold is focused on exploring and developing gold, zinc and barite properties in Atlantic Canada.
The Scotia Mine will operate initially as an open pit mine and is expected to produce 30,000 tonnes of high grade zinc concentrate and 10,000 tonnes of high grade lead concentrate per year. Please see Press Release No. 16-06, July 17, 2006 for further details.
Acadian Gold is also focused on developing four advanced gold properties, Beaver Dam, Tangier, Forest Hill and Goldenville, which form the core holdings of the Scotia Goldfields project. All of the four advanced properties host gold resources described in technical reports prepared in compliance with National Instrument 43-101 and are available on www.sedar.com. A summary of gold resources is provided in Press Release No. 01-06, January 5, 2006, under the paragraph titled "About Acadian Gold". Acadian Gold is bringing a new approach to the development of Nova Scotia gold deposits by pursuing a multiple mine central processing, managing and servicing strategy.
Acadian Gold holds a 45.92% equity interest in Royal Roads Corp. ("Royal Roads") (RRO-TSX-V). Royal Roads' principal asset is a 16,075 hectare (approximately 32 km x 5 km) mineral property known as the Tulks North property which is strategically located in the centre of the world-class Buchans base metal camp in central Newfoundland, Canada. In addition, Royal Roads holds a 53.06% equity interest in Buchans River Ltd. ("Buchans River") (BUV-TSX-V), which company also holds a highly prospective property portfolio in the Buchans camp. Acadian Gold's indirect interest in Buchans River is 27%.
Royal Roads' Tulks North property is host to the Daniel's Pond deposit which was discovered by BP Resources Canada Ltd. in 1989. Royal Roads reported (see Press Release issued November 7, 2006) an inferred resource (Zn cutoff = 2%, S.G. 4.0) of 1.69 million tonnes grading 0.57% copper, 4.40% lead, 8.37% zinc, 196.9 g/t silver and 0.68 g/t gold over an average width of 4.2 metres.
Sample Protocol
All drilling, core logging and sampling is supervised by Peter C. Webster, P. Geo. and pertinent information is recorded by staff geologists into a computerized system. Drill core is stored and sampled in a secure locked facility. One metre core sample intervals are established over the entire hole length by staff geologists and sample intervals are recorded. Core is cut by a diamond tipped saw and one half of the core is sampled. Samples are bagged and labeled with pre-numbered sample tags, sealed with a metal tie and secured in sealed buckets for shipment by courier to ALS Chemex in Val d'Or, Quebec. Once received by the lab, samples are logged in a sample tracking system and received weights are recorded. The entire sample is coarse crushed and pulverized to approximately 85% passing 75 micron (200 Mesh) to generate the plus and minus fractions for the 150 Mesh screen analysis. The final prepared pulp is passed through a 105 micron (Tyler 150 Mesh) stainless steel screen to separate the oversize fractions. Any +105 micron material remaining on the screen is retained and analyzed in its entirety by fire assay with gravimetric finish and reported as the Au (+) fraction result. The -105 micron fraction is homogenized and two sub-samples are analyzed by fire assay with AAS finish. The average of the two AAS results is taken and reported as the Au (-) fraction result. The Au (+) and Au (-) are weight averaged to produce a total gold value for the sample. Blind standards and blanks are inserted at standard intervals by Acadian Gold and ALS Chemex as check samples.
Other
Terence Coughlan, B.Sc., P.Geo., is acting as Qualified Person in compliance with National Instrument 43-101with respect to this release and has reviewed the contents for accuracy.
Forward Looking Statement
Certain information regarding the Company contained herein may constitute forward-looking statements within the meaning of applicable securities laws. Forward-looking statements may include estimates, plans, expectations, opinions, forecasts, projections, guidance or other statements that are not statements of fact. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. The Company cautions that actual performance will be affected by a number of factors, many of which are beyond the Company's control, and that future events and results may vary substantially from what the Company currently foresees. Discussion of the various factors that may affect future results is contained in the Company's 2005 Annual Report which is available at www.sedar.com. The Company's forward-looking statements are expressly qualified in their entirety by this cautionary statement
For additional information on the Company's properties and activities, please visit our web site at www.acadiangold.ca. If you wish to be added to the Company's e-mail or fax distribution list for future news releases and updates, please contact us at phone: 902 444-7779, fax: 902 444-3296, email: mail@acadiangold.ca.
FOR FURTHER INFORMATION, PLEASE CONTACT:
G. William Felderhof, President & CEO
or Terry F. Coughlan, Vice President
(902) 444-7779
Toll Free: 877-444-7774
mail@acadiangold.ca
Halifax, Nova Scotia
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
Release No. 16-07
Shares Outstanding: 134,452,825
144 filed today shows Bristol Investment Fund has been the root of some of the selling:
http://www.pinksheets.com/quote/print_filings.jsp?url=%2Fredirect.asp%3Ffilename%3D0001019687%252D07...
I don't see a filing for yet for MFIC, but I just received this on my newswire. Anyone see a filing?
MFIC Corp 1Q EPS 95c >MFIC
Last update: 5/2/2007 1:33:25 PM(MORE TO FOLLOW) Dow Jones Newswires
May 02, 2007 13:33 ET (17:33 GMT)
SUWN news
Sunwin Stevia International Receives Purchase Order for OnlySweet(TM) for Utilization in the Food Services Industry
Wednesday April 25, 7:00 am ET
TAMARAC, FL--(MARKET WIRE)--Apr 25, 2007 -- Sunwin Stevia International Corp., a wholly owned subsidiary of Sunwin International Neutraceuticals, Inc. (OTC BB:SUWN.OB - News), announced today that it has received an order for OnlySweet(TM) that will be used in the food service industry. The Company has also received several additional purchase orders from regional grocery chains to carry the OnlySweet(TM) product line beginning in June 2007, bringing the total number of locations where OnlySweet(TM) will be sold in excess of 2,000 stores nationwide.
Steven Silbert, Executive Vice President of Sunwin Stevia International, remarked, "We are extremely pleased with the reception that OnlySweet(TM) has received in the marketplace in the relatively short time that it has been available to consumers. We feel confident that the number of outlets offering OnlySweet(TM) will continue to grow substantially over the next six months."
Mr. Silbert continued, "We are also pleased with the recent order we have received for food service utilization. Having OnlySweet(TM) on restaurant tabletops and in coffee cafés has always been a part of the company's marketing strategy and we are delighted it is happening so early on in our development. This market not only produces revenue, but it is a key component to creating brand awareness. To that end, we will be implementing a highly diversified campaign to increase the visibility of OnlySweet(TM) starting in select markets in the next 30 to 60 days."
Mr. Silbert concluded, "We have just completed a two day meeting with the CEO and lead Account Executive of our advertising and marketing agency, Blue Chip Marketing and Communications (www.bluechipmac.com). We established the dates that we will be launching various in and out of store marketing campaigns, designed to increase in-store sales, as well as create awareness of the attributes of our all natural, zero calorie product. Due to certain market factors, taking place in a highly visible manner, consumers are taking a closer look at products that are truly all natural. We feel that the demand for all natural products will continue to grow, as more and more consumers become educated to their benefits."