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: ) :30 AM ET 8/29/17 | Marketwired
VANCOUVER, BC--(Marketwired - August 29, 2017) - ATAC Resources Ltd. (TSX VENTURE: ATC) ("ATAC") is pleased to announce results of an additional four diamond drill holes from the Conrad and Osiris Zones within the Osiris Project at the Rackla Gold Property, Yukon.
Highlights
Hole OS-17-238 at the Conrad Zone intersects 12.50 m of 20.78 g/t gold of newly identified and near-surface mineralization;
Hole OS-17-236 at the Conrad Zone intersects four high-grade gold intervals; and,
Drilling confirms continuity along the western limb of the Osiris zone.
"Odyssey's marine operations team successfully completed the first phase of a major shipwreck project that included the search and inspection of multiple valuable targets and the recovery of samples of valuable cargo. These activities were undertaken under contract with another party."
This news was music to my ears!
August 9, 2017
Odyssey Marine Exploration, Inc. (NASDAQ:OMEX), a pioneer in the field of deep-ocean exploration, reported results for the second quarter ended June 30, 2017, and provided an update on operations and plans for 2017.
In the second quarter, Odyssey's marine operations team successfully completed the first phase of a major shipwreck project that included the search and inspection of multiple valuable targets and the recovery of samples of valuable cargo. These activities were undertaken under contract with another party.
Planning is currently underway for the recovery phase of this project. Procurement of specialized equipment for the recovery project has been initiated, and operations will commence upon delivery and the completion of testing of the new equipment.
Planning also continues for recovery of phosphate sands from the "Don Diego" project so that preliminary operations can commence soon after environmental approval is received. Odyssey has already been contracted to provide a variety of services related to this the project once approvals are in place. This contract has the potential to produce several million dollars in positive cashflows and enhance the value of Odyssey's investment in this project. Although there can be no assurance of a favorable outcome, the judicial decision on the environmental approval is expected to be made within the next 90 days.
Odyssey also continues to develop and partner with other groups on new subsea mineral projects that will require offshore exploration work and resource evaluation by the Odyssey marine operations team.
The currently planned shipwreck and mineral projects are being conducted under a leveraged contracting model where Odyssey is paid to perform offshore services while retaining a significant back-end of the future net proceeds from the projects. The combined potential cash flows generated from these projects are expected to fund operations for multiple years and increase the value of projects controlled by Odyssey or in which Odyssey has an equity ownership position.
Odyssey's interests remain aligned with those of MINOSA del Norte S.A. de C.V. (MINOSA), with whom we have an investment agreement for the purchase of new equity securities that, when issued, would represent a majority of the equity in Odyssey. Epsilon Acquisitions LLC, an affiliate of MINOSA, is already one of Odyssey's largest shareholders after converting $3 million in debt to equity in the second quarter of 2017.
In addition, Odyssey was notified by NASDAQ on August 4, 2017, that the Company is in compliance with all NASDAQ requirements for listing.
Management Commentary
"As we transform Odyssey, we've been working to be more efficient and focused while driving cash flows to fund operations. Those efforts are continuing to pay off with a 25% reduction in general and administrative expenses and a 20% reduction in operational expenses comparing the two 12-month periods ended June 30, 2017 and June 30, 2016. That's on top of the 36% reduction in those expenses from the prior 12-month period ended June 30, 2015," said Mark Gordon, Odyssey Chief Executive Officer and President. "We also now have the largest pipeline of cash generating projects than at any other time in our history."
"These efforts have also positioned Odyssey to quickly commence operations on the 'Don Diego' project once approvals are received and have allowed Odyssey to continue developing new mineral projects around the world.
"The 'Don Diego' environmental approval process and closing of the Stock Purchase Agreement has taken longer than originally contemplated; however, the assistance MINOSA has provided us through this process and their recent agreement to provide additional capital reinforces our belief that MINOSA is the right investor for Odyssey's offshore mineral exploration business," continued Mark Gordon.
Q2 2017 Financial Summary
The net loss in the second quarter of 2017 was $1.9 million or $(0.23) per share as compared to net loss in the first quarter of 2017 of $2.2 million or $(0.28) per share and a net loss or $1.9 million or $(0.25) per share in the second quarter of 2016.
Total revenue in the current quarter was $0.6 million, a $0.6 million decrease from the revenue in the same period a year ago and was derived from the performance of expedition marine survey and recovery services for Magellan, whom we consider a related party. The $1.2 million revenue in the same quarter last year was generated from providing equipment and personnel to an offshore operator under a survey expedition services agreement.
Marketing, general and administrative expenses decreased by $0.2 million from $1.9 million in 2016 to $1.7 million in 2017 primarily as a result of (i) a reduction of $0.4 million of personnel compensation and related expenses including share-based compensation of $0.2 million and (ii) $0.1 million decrease in corporate supportive overhead. This decrease was partially offset by (i) a $0.2 million increase in legal fees related to marine cargo securitization and (ii) a $0.1 million increase in financing fees.
Operations and research expenses primarily include all costs within Archaeology, Conservation, Exhibits, Research, and Marine operations, which include all vessel and charter operations. Operations and research expenses decreased by $0.4 million from 2016 to 2017 as a result of a $0.1 million reduction of marine services costs which include technical crew costs as well as other marine operational costs such as fuel, port fees and consumables, an increase in the gain of sale of marine equipment of $0.2 million and a reduction of $0.1 million of fixed asset costs related to depreciation and insurance. 2016 included the full-time operations of our former vessel, the Odyssey Explorer, which was sold in mid-2016.
MM's had the ASK / BID gaped out .15 cents today before the run up
Wow! Nice day in OMEX land.
21 BILLION Authorized shares?????????????????
A company with real earnings equals share value. : ) I've been in this one since it was .05 cents a share and a start up shell company. I knew it was a winner then and still believe it to be.
A Short Squeeze is very possible.
The short position being reported by NASDAQ is 531,748 as of 7/14.
http://www.nasdaq.com/symbol/tops/short-interest
I'm not using a Short Scare tactic I just thought you would want to know what is affecting your investment, while all you want to apparently do is blindly pump something without all the facts. GLTA
Huge Short Position in this company.
http://www.nasdaq.com/symbol/tops/short-interest
And it's on the Reg SHO list as well, as it should be.
http://www.nasdaqtrader.com/trader.aspx?id=regshothreshold
The MM's are robbing you.
FYI, There is a Massive Short position taking this company down.
It's on the Reg SHO list.
http://www.nasdaqtrader.com/trader.aspx?id=regshothreshold
NASDAQ Short Interest:
http://www.nasdaq.com/symbol/dcix/short-interest
This stock has been seriously shorted. It is even on the Reg SHO list.
http://www.nasdaqtrader.com/trader.aspx?id=regshothreshold
MM's usually set the ASK higher after hours and on OMEX they usually set it higher at between $6 to $9. Today they first set it at $12 it's now at $11.50 . Although, it was the sudden volume and price spike right at the end of the day that caught my eye and wondered if someone might possibly know that news of some kind is coming.
MBRX is being heavily shorted and is on the SHO list!
http://www.nasdaqtrader.com/trader.aspx?id=regshothreshold
What happened at the end of the day with the volume and price spike in the last minutes of trading? Then they moved the ASK to $12. They usually move it to around $8 or $9 after hours.
CSBR seems to be coming along here of late, but there is a large short position in this one. GLTA
I bought it on a whim and then checked it out and said what have I done once read some of the post on this message board, but it seems to be acting like a stock with a very low float. When was the last RS?
.34 And climbing!
I agree
I found this and thought it was informative.
Shows some pretty good spikes in the Short Interest
https://www.gurufocus.com/ownership/NAS:MBRX
I called the Transfer agent and they would not give me the OS. Said I needed to contact the company itself. I haven't done that yet.
Furthermore, I would expect some dilution as they have to pay the bills, but how much is the question??? The Float is I believe around 10 million and this has been trading close to that in volume every day until today. When over half the supposed float is traded and we only get a .30 cent move I question what is going on. Hopefully if it is dilution that they will bank it for future operations and not start handing out bonuses and increased salaries.
Has anyone checked with the TA for the new OS?
Hard to ignore at this point. Ouch!
"next time, DON'T TELL!"
Due to past circumstances I may agree.
No mater,as shorting is a natural part of trading as long as they don't naked short it to death.
I bought a few more shares today at 3.09 and i'm not worried about it. This stock and another stock of mine CSBR seem to be doing the right things to move forward.
Short interest as of 7/14.
Should be updated today hopefully.
http://www.nasdaq.com/symbol/mbrx/short-interest
Nasdaq shows a 1 year price target of $9.26.
http://www.nasdaq.com/symbol/mbrx
Slow moves up are better than big moves up. IMHO If it went up fast then it would drop right back down when the run was over. I doubled my position in this stock yesterday and I'm very happy with the slow forward progression in stock price. GLTA
The open is looking good with the ASK currently @ 2.48 and climbing with some pre-market trades taking place.
I added a few more shares today. Kept thinking about the potential of this as it hopefully moves forward. GLTA
Things seem to still be quite here.
I'm still holding and watching this one.
This one has possibilities IMHO
This is looking and sounding good. I'm Still holding all my shares. GLTA
I bought more today and may buy a little more Monday at this price : )
Wow! I guess I will just hold on to my shares at this point. They either have something good or they don't.
Ditto!
"Agreed..just have to wait and see.. gltu!!$$$$ "
I'm staying in. Hopefully there isn't any unforeseen bad news pending.
I bought a little in the dip. Hate doing that not knowing WTH is going on.
Crazy!!!
Nasdaq has a one year price target of $9.26 : ) I would love to see that.
http://www.nasdaq.com/symbol/mbrx
Wonder what is up with OMEX this morning?