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my head is spinning trying to understand how a BS law in US can bring this down back where it is now... I thought it was hard trying to figure out how to max out ones profits in the market but now it turns out one has to have a law school degree to hold on certain stocks traded in North America...
fuckin unbeliavable..
Just grabbed 60k more MMT at 0.54
Nigeria: JTF Arrests Nine Pipeline Vandals in Bayelsa
http://allafrica.com/stories/201011260111.html
yes, so much bitching today on this board about OGC I take it as a strong buy signal..
Adam Hamilton is GREAT
Coastal Energy Announces Third Quarter 2010 Financial Results
HOUSTON, TX--(Marketwire - November 18, 2010) - Coastal Energy Company (the "Company" or "Coastal Energy") (TSX-V: CEN) (AIM: CEO) announces the financial results for the quarter ended September 30, 2010. The functional and reporting currency of the Company is the United States dollar.
Third Quarter 2010 Highlights
-- Average total Company production of 11,795 boe/d; including average
offshore production of 10,065 bbl/d
-- EBITDAX of $44.5 million, or $0.39 per fully diluted share; up 49%
sequentially and over 550% YoY
-- Net income of $9.2 million, or $0.08 per fully diluted share
-- First production from the Bua Ban field in the Gulf of Thailand
-- The closing of a $80MM senior secured revolving credit facility
Operational Highlights
During the third quarter Coastal Energy completed the first development phase of the Bua Ban field in the Gulf of Thailand. The field is online and is producing approximately 4,000 bopd. Exploration results were positive as two of the wells encountered productive sands in the Miocene, a first in the Songkhla basin. Two other wells encountered a significant oil column in the Eocene reservoir, albeit with tight porosity and permeability. The Company is planning a fracture test of these wells in December to attempt to make the Eocene reservoir commercially productive.
Following development drilling at Bua Ban, the Company began appraisal drilling into the Lower Oligocene Wedge and Eocene reservoirs at Songkhla. The first well reached TD in mid-November and encountered thicker than expected pay zones in both the Lower Oligocene and Eocene. Two more appraisal wells are planned in the coming weeks. The Company then plans to begin testing its high impact exploration targets at Bua Ban North.
Randy Bartley, President and CEO of Coastal Energy, commented:
"The third quarter of 2010 was a successful one for Coastal. We delivered record levels of EBITDAX and net income due to higher production volumes from our offshore fields. The completion of the first phase of development was another milestone for the Company. The fourth quarter is off to a successful start with the drilling of a successful appraisal well at Songkhla. We expect further success as we continue to appraise the Oligocene Wedge and Eocene reservoirs over the next month.
"The Company is entering an exciting time with several high impact exploration prospects scheduled for testing over the next several months. As we move forward through the remainder of 2010, we will continue to strive for further success in the exploration and appraisal of our offshore assets."
The Company plans to host a conference call to discuss its Q3 2010 results on Friday, November 19, 2010 at 11:30 AM Eastern time. The dial-in number is 800.281.7970 in the USA or +1.913.312.1414 internationally. The conference ID is 2241640.
The following financial statements for the Company are abbreviated versions. The Company's complete financial statements for the three months and nine months ended September 30, 2010 with the notes thereto and the related Management Discussion and Analysis can be found either on Coastal's website at www.CoastalEnergy.com or on SEDAR at www.sedar.com. All amounts are in US$ thousands, except share and per share amounts.
CONSOLIDATED STATEMENTS OF OPERATIONS, COMPREHENSIVE LOSS AND DEFICIT
Three months ended Nine months ended
September 30, September 30,
-------------------- --------------------
2010 2009 2010 2009
--------- --------- --------- ---------
Revenues
Oil and natural gas 68,688 21,205 160,362 57,422
Royalties (6,828) (1,430) (13,632) (3,851)
(Loss) gain on derivative
risk management contracts
(Note 5) - 128 (66) (1,795)
Interest income 1 6 4 22
--------- --------- --------- ---------
61,861 19,909 146,668 51,798
--------- --------- --------- ---------
Expenses
Production 16,329 10,936 34,965 23,788
General and administrative 4,336 5,029 12,228 11,432
Foreign exchange loss 2,198 240 2,651 1,637
Interest (Notes 4 and 5) 367 796 1,064 3,162
Debt financing fees 23 323 266 1,249
Depletion, depreciation and
accretion 21,410 5,382 46,316 16,238
Settlement (Note 3) - - - 2,366
--------- --------- --------- ---------
44,663 22,706 97,490 59,872
--------- --------- --------- ---------
Net income (loss) before taxes,
earnings from significantly
influenced investee and
non-controlling interest 17,198 (2,797) 49,178 (8,074)
Income tax 10,708 - 29,575 -
--------- --------- --------- ---------
Net income (loss) before
earnings from significantly
influenced investee and
non-controlling interest 6,490 (2,797) 19,603 (8,074)
Earnings from significantly
influenced investee (Note 2) 2,491 2,621 8,223 5,886
--------- --------- --------- ---------
Net income (loss) before
non-controlling interest 8,981 (176) 27,826 (2,188)
Non-controlling interest
(Note 9) 247 65 197 65
--------- --------- --------- ---------
Loss from continuing operations
Net loss from discontinued
operations (Note 18)
--------- ---------
Net income (loss) and
comprehensive income (loss)
attributable to shareholders 9,228 (111) 28,023 (2,123)
Retained earnings (deficit),
beginning of period 2,093 (18,599) (16,702) (16,587)
--------- --------- --------- ---------
Retained earnings (deficit),
end of period 11,321 (18,710) 11,321 (18,710)
--------- --------- --------- ---------
Foreign exchange loss
Basic earnings (loss) per share
(Note 8) 0.08 (0.00) 0.26 (0.02)
Diluted earnings (loss) per
share (Note 8) 0.08 (0.00) 0.25 (0.02)
========= ========= ========= =========
CONSOLIDATED BALANCE SHEETS
September 30, December 31,
2010 2009
-------------- -------------
Assets
Current assets
Cash and cash equivalents 19,865 21,229
Restricted cash 7,379 3,829
Accounts receivable 21,392 6,111
Derivative asset - 66
Inventory 6,771 5,310
Prepaids and other current assets 173 526
-------------- -------------
55,580 37,071
Investment in and advances to Apico LLC 53,152 55,225
Property, plant and equipment 311,521 233,014
Deposits and other assets 296 299
-------------- -------------
Total assets 420,549 325,609
============== =============
Liabilities
Current liabilities
Accounts payable and accrued liabilities 59,757 31,325
Deferred income - 23,060
Income taxes payable 31 38
Amounts due to shareholder - 5,164
Current portion of long-term debt 134 10,266
-------------- -------------
59,922 69,853
Long-term debt 56,113 24,284
Asset retirement obligations 10,827 2,809
Future income tax liability 59,869 27,695
-------------- -------------
Total Liabilities 186,731 124,641
-------------- -------------
Commitments and contingencies (Note 12)
Non-controlling interests 6,170 5,617
-------------- -------------
Shareholders' equity
Share capital 200,816 198,121
Contributed surplus 15,432 13,779
Warrants 79 153
Retained earnings (deficit) 11,321 (16,702)
-------------- -------------
Shareholders' equity 227,648 195,351
-------------- -------------
Total liabilities, non-controlling interests,
and shareholders' equity 420,549 325,609
============== =============
CONSOLIDATED STATEMENTS OF CASH FLOWS
Three months ended Nine months ended
September 30, September 30,
------------------ ------------------
2010 2009 2010 2009
-------- -------- -------- --------
Operating activities
Net income (loss) for the period 9,228 (111) 28,023 (2,123)
Distributions from significantly
influenced investee 6,142 2,710 10,296 4,516
Items not involving cash
Depletion, depreciation and
accretion 21,410 5,382 46,316 16,238
Impairment - - - 1,765
Future income taxes 10,726 - 29,575 -
Income applicable to
non-controlling interest (247) (65) (197) (65)
Unrealized foreign exchange
(gain) loss 1,666 165 2,508 867
Stock based compensation 720 2,809 3,871 4,955
Issuance of warrants with notes
payable - - - 294
Earnings from significantly
influenced investee, net of
taxes (2,491) (2,621) (8,223) (5,886)
Unrealized loss (gain) on
derivative instrument - (128) 66 1,668
(Gain) loss on sale of assets
Change in non-cash working
capital (41,238) 21,600 (28,496) 25,633
-------- -------- -------- --------
5,916 29,741 83,739 47,862
-------- -------- -------- --------
Investing activities
Investment in and advances to
Apico LLC
Investment in and advances to
Apico LLC - - - (4,516)
(Increase) decrease in restricted
cash (4,342) (349) (3,550) 321
Purchase of property, plant and
equipment (10,970) (12,631) (100,834) (45,979)
Proceeds from sale of property
and equipment
Contributions from
non-controlling interest partner - 2,635 750 2,635
Other - - (6) (86)
-------- -------- -------- --------
(15,312) (10,345) (103,640) (47,625)
-------- -------- -------- --------
Financing activities
Issuance of shares for cash 166 (49) 2,052 15,369
Borrowings under long-term debt 58,727 - 58,727 1,620
Transaction costs of obtaining
credit facility (2,521) - (2,521) -
Repayments of long-term debt (28,571) (2,371) (34,550) (10,207)
Borrowings under amounts due to
shareholder - - - 1,000
Repayment of amounts due to
shareholder (3,161) (1,157) (5,164) (2,278)
Proceeds from issuance of notes
payable - - - 15,000
Repayments of notes payable - (2,949) - (7,021)
-------- -------- -------- --------
24,640 (6,526) 18,544 13,483
-------- -------- -------- --------
Net effect of foreign exchange on
cash held in foreign currencies (26) 27 (7) 42
-------- -------- -------- --------
Change in cash and cash equivalents 15,218 12,897 (1,364) 13,762
Cash and cash equivalents,
beginning of period 4,647 7,299 21,229 6,434
-------- -------- -------- --------
Cash and cash equivalents, end of
period 19,865 20,196 19,865 20,196
======== ======== ======== ========
Cash and cash equivalents consists
of:
Cash 19,865 20,196 19,865 20,196
======== ======== ======== ========
Randy Bartley, President and Chief Executive Officer of the Company and a member of the Society of Petroleum Engineering and Jerry Moon, Vice President, Technical & Business Development, a member of the American Association of Petroleum Geologists, a Licensed Professional Geoscientist and a Certified Petroleum Geologist in the state of Texas, have reviewed the contents of this announcement.
Additional information, including the Company's complete competent person's report may be found on the Company's website at www.CoastalEnergy.com or may be found in documents filed on SEDAR at www.sedar.com.
This statement contains 'forward-looking statements' as defined by the applicable securities legislation. Statements relating to current and future drilling results, existence and recoverability of potential hydrocarbon reserves, production amounts or revenues, forward capital expenditures, operation costs, oil and gas price forecasts and similar matters are based on current data and information and should be viewed as forward-looking statements. Such statements are not guarantees of future results and are subject to risks and uncertainties beyond Coastal Energy's control. Actual results may differ substantially from the forward-looking statements.
These securities have not been registered under United States Securities Act of 1933 (the "US Securities Act") or the securities laws of any state and may not be offered or sold in the United States or to US persons (as defined in Regulation S under the US Securities Act) unless an exemption from registration is available.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
This news release is not for dissemination in the United States or through United States newswire services
Enquiries:
Coastal Energy Company
Randy L. Bartley
Chief Executive Officer
+1 713 877 6705
William C. Phelps
Chief Financial Officer
+1 713 877 6727
Email: investor@CoastalEnergy.com
Strand Hanson Limited (Nominated Adviser)
+44 (0) 20 7409 3494
Rory Murphy
Paul Cocker
Stifel Nicolaus Weisel (Broker)
+44 (0) 20 3205 3615
Paul Colucci
Macquarie Capital (Europe) Limited (Broker)
+44 (0) 20 3037 2000
Ben Colegrave
Paul Connolly
Buchanan Communications
+44 (0) 20 7466 5000
Tim Thompson
Catherine Breen
Katharine Sutton
I predict sell out to a Chinese co at 15 to 20 by this time next year. This will be the Addax Petroleum of the gulf of Siam...
and SSN unless you sold out ?
Paradigm on CEN:
Event
Coastal announced appraisal results of the Oligocene and Eocene reservoirs following the
successful drilling of the Songkhla A-09 well, which encountered over 200 feet of net pay.
Details
? The A-09 well encountered 140 feet of net pay in the Lower Oligocene Wedge with
average porosity of 15%. The well is around 330 feet up-structure from the A-08
well, and pressure data supports the fact that there has been no depletion of the
Lower Oligocene from the Songkhla Main reservoir.
? The well also encountered 75 feet of net pay in the Eocene reservoir with 16.5%
porosity. Furthermore, this discovery established the lowest known oil in the
Eocene by 105 feet.
? The A-09 well is expected to be completed and brought on-stream by month end.
? The second wedge well the A-12, is expected to only test the Lower Oligocene,
recently spud and we expect log results from it early next week. Following the
second well, a third well is planned which will primarily test the Eocene reservoir.
? Porosity and net pay are both generally better than what the reserve report was
based on, which had attributed around 7.5 mmBbls of 3P reserves to the two
reservoirs. Successful production testing of the three wedge wells should translate
into a significant portion of these reserves being converted into the 2P and 1P
category with the year-end report.
Conclusion
Coastal’s A-09 well is the first of three planned wells for the wedge, which should result
in two Lower Oligocene tests, and two Eocene tests. Initial results are promising and
look to be additive to 2P reserves and production. We expect to see the company have
production results on these wells in early December. We reiterate our Buy
recommendation and $7.50 target price, which represents 4.1x our 2011 CFPS estimate.
CEN up 15% in London, about time our little gem gets some due respect ! let´s see what it does on the TSX today...
HOUSTON, TX--(Marketwire - 11/15/10) - Coastal Energy Company (the "Company" or "Coastal") (TSX-V:CEN - News) (AIM: CEO) announces successful appraisal drilling success from the Oligocene and Eocene reservoirs at the Songkhla field.
The Songkhla A-09 well was drilled to 8,109 feet true vertical depth and encountered 140 feet of net pay in the Lower Oligocene Wedge reservoir with average porosity of 15%. The well also encountered 75 feet of net pay in the underlying Eocene reservoir analogous to that seen in the Songkhla A-07 well, which had 16.5% porosity and initially flow tested 1,100 bopd. The A-09 well also pushed down the lowest known oil in the Eocene by 105 feet.
The A-09 well is approximately 330 feet up structure from the Songkhla A-08 well in the Lower Oligocene. Prior to the A-09, the Songkhla A-08 well was the easternmost well on the structure, which supported the existence of the Lower Oligocene Wedge. Pressures in the A-09 approximate the original reservoir pressure at Songkhla Main therefore indicating that there has been no depletion of the Lower Oligocene Wedge from the Main reservoir.
The Company has now spudded the Songkhla A-12 well, which will further appraise the Lower Oligocene Wedge.
Fracture testing of Eocene reservoir in the Bua Ban A-04 well remains on schedule to begin in mid-December.
Randy Bartley, Chief Executive Officer of Coastal Energy, commented:
"The A-09 well results have confirmed our prognosis of the Lower Oligocene Wedge reservoir at Songkhla. The well encountered an Oligocene pay zone which was thicker than anticipated and of thickness and porosity comparable to the A-08 well, which has been the best performing well at Songkhla to date. The shows in the Eocene reservoir are also promising as the porosity is comparable to the A-07 well which had an initial production flow of over 1,100 bopd.
"The Company experienced some weather delays in late October and early November forcing us to shut in production; however, production is being brought back online and we expect to return to pre-shutdown levels (excluding any production from the three new Songkhla wells) of approximately 10,000 bopd. We plan to tie in production from these new wells prior to moving onto our high impact exploration drilling at Bua Ban North."
The Company plans to host a conference call to discuss its Q3 2010 results on Friday, November 19, 2010 at 11:30 AM Eastern time. The dial-in number is 800.281.7970 in the USA or +1-913.312.1414 internationally. The conference ID is 2241640.
Randy Bartley, President and Chief Executive Officer of the Company and a member of the Society of Petroleum Engineering and Jerry Moon, Vice President, Technical & Business Development, a member of the American Association of Petroleum Geologists, a Licensed Professional Geoscientist and a Certified Petroleum Geologist in the state of Texas, have reviewed the contents of this announcement.
Additional information, including the Company's complete competent person's report may be found on the Company's website at www.CoastalEnergy.com or may be found in documents filed on SEDAR at www.sedar.com.
This statement contains 'forward-looking statements' as defined by the applicable securities legislation. Statements relating to current and future drilling results, existence and recoverability of potential hydrocarbon reserves, production amounts or revenues, forward capital expenditures, operation costs, oil and gas price forecasts and similar matters are based on current data and information and should be viewed as forward-looking statements. Such statements are not guarantees of future results and are subject to risks and uncertainties beyond Coastal Energy's control. Actual results may differ substantially from the forward-looking statements.
These securities have not been registered under United States Securities Act of 1933 (the "US Securities Act") or the securities laws of any state and may not be offered or sold in the United States or to US persons (as defined in Regulation S under the US Securities Act) unless an exemption from registration is available.
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release.
This news release is not for dissemination in the United States or through
United States newswire services
Contact:
Enquiries:
Coastal Energy Company
CFO: plus looks like Joe Dwek is done selling, so strong wind on its back now I hope..
Just got out of my 9500 SROE at 2.20 today. No particular reason but to raise cash as SROE was about the only green on a sea of red on my screen. Wish you all luck holding it long term but hope it goes back to 1.40 soon so I can grab more cheap shares !!! lol
TLH going nuts, +10% Anyone heard anything new about the LIT ETF listing?
FRC anyone know why on earth its not marginable under IB? According to my understaning it should as it complies with IB´s margin rules: stock is above 2 bucks, its on TSX not venture and market cap is above $ 100M
CEN: little CEN now covered by Goldman Sachs
http://www.mediafire.com/?5vc4vbeueq8qbv1
Looks like there was a big block sell of 400k in 7 seconds above 50c, add to that some stop limits probably being hit at 50c and later on panic sellers at high 40s and there ya go...
OGC now turning higher in Aussieland than even the CAD close. Looks like the PP effect is about to fade and off to the races soon
OT: koz:
USA$ = Can$ = Aus$
We basically have a trifecta ... but Bernanke
is determined to further sink the USA$ ... ))<:}
Didnt you know a New World Order (AND CURRENCY) is coming ???
Having main currencies as AUD CAD and USD equalized will help....
they are now just waiting for me to call in the reverse split vs. Euro and off they go!
somewhere around 2 bucks = 1 Euro will do it !
Will reply to myself. Guess no sell off, didnt know estimates were so low
UPDATE 1-Breakwater Q3 results beat est on high metal prices
Mon Nov 1, 2010 9:51pm GMT
Print | Single Page
[-] Text [+]
* EPS C$0.28 vs est C$0.17
* Gross rev up 30 percent to C$93.3 mln
Nov 1 (Reuters) - Canadian miner Breakwater Resources Ltd's (BWR.TO: Quote) quarterly profit beat estimates, helped by higher metal prices.
The Toronto-based mining company posted third-quarter earnings of C$19.6 million, or 28 Canadian cents a share, compared to C$6.5 million, or 10 Canadian cents, last year.
Gross revenue for the company, which has three mines in Chile, Honduras and Canada, rose 30 percent to C$93.3 million.
A 20 percent rise in the price of zinc -- which contributes about 35 percent of the company's sales -- and a 41 percent rise in copper prices helped results.
Analysts on average were expecting the company to earn 17 Canadian cents a share, on revenue of C$87.8 million, according to Thomson Reuters I/B/E/S.
On Oct. 5, strikers halted operations at Breakwater's zinc mine, Toqui, in Chile "indefinitely," after wage talks broke off, but the parties reached a settlement in a week. [ID:nWNAB3485]
The company's shares, which have gained about 5 percent since the it reached a settlement with its workers, closed at C$5.96 on Monday on the Toronto Stock Exchange. (Reporting by Aftab Ahmed and Arnika Thakur in Bangalore; Editing by Don Sebastian) (aftab.ahmed@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging: aftab.ahmed.reuters.com@reuters.net))
sell off tomorrow ? Not that I agree it should, but we know the way trader´s think.... everyone was looking for higher earnings than previous quarter (35c)
IB assistants. It´s slow but more or less OK most of the time
Harry Barr is behind FAU. Very well known for printing shares like mad amongst other things
http://firerivergold.blogspot.com/
Have owned some FAU in the past but luckily sold out much higher than wehre it´s at today
PAL CEO interview http://vod.bnn.ca/Video/361387
how about PAL? I just bought back into it. Palladium play with a nice gold kicker !
MMT.V/MAUXF : Anyone has the link to the report???
lol. Happens everytime. Just be nice and let us know once you sell. I was looking at it to do some purchases.
Is it just me or AUMN seems to be evolving into a trader´s popular favourite? Seems amazing to me that little know, tiny float AUMN could trade as much as USD 15M worth of stock today on AMEX while CDE which is a well known name included in every miner´s index did about 22M !!!
TLH going nuts !!! weeeee
Nice to see MMT´s little run on an otherwise awfull day for stocks!
Coinmaker: RE CSC and SFEG. Do you know if their properties are either on federal or private land ??
AMZ Amazon Mining Holding PLC in Brazil and little discussed over this board looks like very much the real thing when it comes to Junior Fert stocks rather than AAA
statements like this make AAA´s CEO look like a drunken fisherman touting his captures other than anything else. lol
In addition, during Mr. Farhad Abasov's recently held interview, Mr. Abasov stated that the 'potential exists to increase the inferred resource by at least 5 to 10 times'. Allana wishes to clarify that the above disclosure of exploration potential is not compliant with NI 43-101 requirements for disclosure of a potential mineral deposit or exploration target, and retracts guidance about potential additional quantity ranges. Although Allana management believes that based on current and historical drilling there is potential to increase the mineral deposit, there can be no assurances that further drilling will result in delineation of additional potash resources.
statements like this from AMZ tell another story. note the bit about going into full feasibility...
Amazon Mining Appoints Engineering and Marketing Executives
10/13/2010 9:18:44 AM - Market Wire
Amazon Grants Stock Options to Management
TORONTO, ONTARIO, Oct 13, 2010 (MARKETWIRE via COMTEX News Network) --
Amazon Mining Holding Plc (TSX VENTURE: AMZ) ("Amazon" or the "Company"), is pleased to announce the appointments of Mr. Pedro Ladeira as Vice President of Engineering and Mr. Eduardo Spolidorio as Marketing Manager.
Mr Ladeira, VP Engineering, has an extensive career in the cement manufacturing industry, where he was responsible for feasibility studies, project construction, start-up and operations. ThermoPotash production uses the same equipment, fuels and processes as cement. Mr. Spolidorio, Marketing Manager, has a successful track record introducing new products to the fertilizer market. He is also a PhD agronomist with extensive experience in the development and evaluation of new mineral fertilizers. Both Mr. Pedro Ladeira and Mr. Eduardo Spolidorio will report to Mr. Mauricio Sampaio, Vice President of Operations and Country Managing Director (see release dated June 9, 2010), a seasoned Brazilian executive and key reference in the fertilizer market.
Mr. Pedro Ladeira previously held the position of Operations Director at Cementos Minetti ("Cementos"). He was responsible for their two main factories from January 2007 to August 2010 and managed over 600 employees. Cementos is one of the largest cement producers in Argentina and part of Holcim Group, one of the world's largest cement producers. In his career, Mr. Ladeira was responsible for the construction and start-up of two cement plants with a cumulative capacity of 2.5 million tonnes per annum. From 1997 to 2006 Mr. Ladeira worked for Holcim in Brazil, holding different positions including Process and Production Manager where he developed significant expertise in project development, pyrometallurgy and alternative fuels usage. Mr. Ladeira graduated in Chemical Engineering and is completing a Masters in Technical Co-Processing, Chemical Engineering from UFMG (University Federal de Minas Gerais). Mr. Ladeira also holds an Executive MBA in Business Administration from Fundacao Dom Cabral, Belo Horizonte.
Mr. Eduardo Spolidorio worked from 1997 to 2009 at Honeywell as an Agronomy Engineer and coordinator of its fertilizer research and development program in Brazil. Honeywell is a Fortune 100 company providing products and solutions in numerous industries including Agriculture. Mr. Spolidorio was responsible for research, development and marketing of mineral fertilizers, specifically coordinating the company's ammonium sulfate project in Brazil. Mr. Spolidorio also provided technical support and training to the largest companies in the Brazilian fertilizer sector including Bunge, Mosaic and Heringer. Mr. Spolidorio graduated in Agronomic Engineering from ESALQ/USP (Escola Superior de Agricultura Luiz de Queiroz), Sao Paulo. He earned his Master's Degree and PhD in Science from CENA/USP (Centre for Nuclear Energy in Agriculture), with a focus on Mineral Nutrition of Plants.
President & CEO, Cristiano Veloso, said, "We have added key skills to our senior management team as the company transitions from preliminary economic assessment to full feasibility, product registration and plant construction. Both Mr. Ladeira and Mr. Spolidorio are exceptional professionals in their fields and bring a needed in-house expertise to Amazon and the Cerrado Verde project".
Other Matters
Amazon has issued 70,000 share purchase options to Mr. Pedro Ladeira and 42,000 share purchase options to Mr. Eduardo Spolidorio, exercisable at $2.30, expiring October 13, 2015, pending TSX regulatory approval.
About Amazon
Amazon Mining is a mineral exploration and development company founded by Brazilians in 2005. The company is focused on the development of Cerrado Verde project. Cerrado Verde is source of a potash rich rock from which Amazon plans to produce a slow-release, non-chloride, multi-nutrient, fertilizer product. Cerrado Verde, amenable to open pit mining, is located in central Minas Gerais in the heart of Brazil's vast Cerrado agricultural area. Amazon Mining is a UK public company with shares listed on the TSX Venture Exchange since November 2007.
On behalf of the Board of Directors of Amazon Mining Holding Plc, Cristiano Veloso, President and CEO.
Cautionary Language and Forward Looking Statements
THIS PRESS RELEASE CONTAINS CERTAIN "FORWARD LOOKING STATEMENTS", WHICH INCLUDE BUT IS NOT LIMITED TO, STATEMENTS WITH RESPECT TO THE FUTURE FINANCIAL OR OPERATING PERFORMANCE OF THE COMPANY, ITS SUBSIDIARIES AND ITS PROJECTS, STATEMENTS REGARDING USE OF PROCEEDS, EXPLORATION PROSPECTS, IDENTIFICATION OF MINERAL RESERVES, COSTS OF AND CAPITAL FOR EXPLORATION PROJECTS, EXPLORATION EXPENDITURES, TIMING OF FUTURE EXPLORATION AND PERMITTING, REQUIREMENTS FOR ADDITIONAL CAPITAL, GOVERNMENT REGULATIONS OF MINING OPERATIONS, ENVIRONMENTAL RISKS, RECLAMATION EXPENSES, TITLE DISPUTES OR CLAIMS, AND LIMITATIONS OF INSURANCE COVERAGE. FORWARD LOOKING STATEMENTS CAN GENERALLY BE IDENTIFIED BY THE USE OF WORDS SUCH AS "PLANS", "EXPECTS", OR "DOES NOT EXPECT" OR "IS EXPECTED", "ANTICIPATES" OR "DOES NOT ANTICIPATE", OR "BELIEVES", "INTENDS", "FORECASTS", "BUDGET", "SCHEDULED", "ESTIMATES" OR VARIATIONS OF SUCH WORDS OR PHRASES OR STATE THAT CERTAIN ACTIONS, EVENT, OR RESULTS "MAY", "COULD", "WOULD", "MIGHT", OR "WILL BE TAKEN", "OCCUR" OR "BE ACHIEVED". FORWARD LOOKING STATEMENTS INVOLVE KNOWN AND UNKNOWN RISKS, UNCERTAINTIES AND OTHER FACTORS WHICH MAY CAUSE THE ACTUAL RESULTS, PERFORMANCE OR ACHIEVEMENTS OF THE COMPANY TO BE MATERIALLY DIFFERENT FROM ANY FUTURE RESULTS, PERFORMANCE OR ACHIEVEMENTS EXPRESSED OR IMPLIED BY SAID STATEMENTS. THERE CAN BE NO ASSURANCES THAT FORWARD-LOOKING STATEMENTS WILL PROVE TO BE ACCURATE, AS ACTUAL RESULTS AND FUTURE EVENTS COULD DIFFER MATERIALLY FROM THOSE ANTICIPATED IN SAID STATEMENTS. ACCORDINGLY, READERS SHOULD NOT PLACE UNDUE RELIANCE ON FORWARD-LOOKING STATEMENTS.
The potential grades detailed in this release are conceptual in nature. There has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in the targets being delineated as a mineral resource.
Readers are cautioned not to rely solely on the summary of such information contained in this release and are directed to the complete set of drill results posted on Amazon's website (www.amazonplc.com) and filed on SEDAR (www.sedar.com) and any future amendments to such. Readers are also directed to the cautionary notices and disclaimers contained herein.
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Contacts:
Amazon Mining Holding Plc
Cristiano Veloso
President & Chief Executive Officer
+44 (0) 20 8133 7607
+44(0)20 7405 7773 (FAX)
cv@amazonplc.com
Amazon Mining Holding Plc
Jed Richardson
VP Corporate Development
+1(416)866-2966
+1(416)866-8829 (FAX)
jed@amazonplc.com
www.amazonplc.com
SOURCE: Amazon Mining Holding PLC
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TLH: up another 7%, looks like another strong day for our little Energizer Bunny stock! I think we are witnessing some funds doing all the buying of shares that later on the Lithium ETF has to grab all at once in a single cross (same as we saw when OGC got included in GDXJ). We are in a for a fun ride!
Has anyone tried to figure out how many million shares LIT must buy?
u in Europe or up very late?
not being there any other publicly quoted pure Lithium plays makes TLH the more attractive I believe
Totally agree. Been there before. They did the same to me, announced a PP on same (non-existant) terms when is was at 15 bucks. Ended selling the shares at 8. I expect similar to happen now
well, if its chart wasn´t overheated I dont know what else is...
http://stockcharts.com/h-sc/ui?s=AUMN
they have to get it while it´s all good... this move was to be expected right now right here...
Well, guess DR just unloaded their allotment of shares after they issued the report that made AUMN jump. I guess its now the turn for a Canadian broker to do it!