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Looks like another buying "opportunity" today - compliments of the BOJ.
http://www.reuters.com/article/2013/06/11/us-japan-economy-boj-idUSBRE95913120130611
Here's your "cheese".(and mine)
http://news.nationalgeographic.com/news/energy/2012/08/120820-helix-wind-collapse/
We are almost at parity for AZK and HL shares which makes sense, I suppose. Now the question is just what is the combination will be worth. Will the increase in number of outstanding shares and debt associated with the acquisition completely offset the new value of combined assets? We will know very soon and the trading today might provide a clue.
I agree, and the Board appointments obviously don't mean much to the few investors left on the ESFS radar screen, considering today's trading. News of significant new contracts or sale of the company to someone of consequence will be crucial. The days of flying high on hype are mostly over in an era when most small investors still have festering wounds from past nanocap infatuations.
The ups and downs are making me dizzy. Let's get this acquisition over, already!
Of course, you're right with respect to the historical lack of execution on the business plan, but the arrival of Mr. Nixon suggests someone thinks there might still be some potential.
Is no one else here intrigued by the naming of Edward Nixon Chairman of the Board Of Directors? This man ostensibly has connections at the highest levels all over the world, and particularly in China. Am I overstating the potential?
On the surface, the drop defies logic, but obviously there is something going on here. It may simply be that there is widespread misunderstanding and fear of the arrangement with Hecla. We should know the truth very soon.
Edward Nixon biography link:
http://cherryblossomfest.com/pages/Ed_Nixon_bio.html
I am assuming Edward Nixon is the youngest brother of former president, Richard Nixon. That alone seems like an extremely positive development. Hopefully, Mr Nixon has a stellar track record which can be leveraged into something meaningful for ESFS.
Just for clarification, if you choose the "cash" option and the number of shareholders electing that option exceeds the cash allocated for the payout, you will receive a prorated amount of cash plus an amount of Hecla shares to bring the total value to $4.75.
AVCVF - Green energy synergy?
American Vanadium and Gildemeister Sign Master Sales Agreement for Cellcube Grid Scale Energy Storage Systems
http://www.marketwatch.com/story/american-vanadium-and-gildemeister-sign-master-sales-agreement-for-cellcube-grid-scale-energy-storage-systems-2013-05-22?reflink=MW_news_stmp
Here's what they are trying to do about the problem.
Liquidity
Through the end of 2012, the Company had sufficient liquidity and revenue to support its growing operations as evidenced by the record 2012 revenue and the net income. As the result of the unexpected failure of Hydrozonix to pay for Units 13-14, the Company has been focusing its efforts on providing liquidity while it implements its business model of developing, commercializing and selling innovative environmentally friendly technologies and maintaining the manufacturing rights for the products which use the technologies.
Our management has been actively engaged in seeking to sell a portion of its 52.6% interest in EES. The Company expected it would have closed that sale last week or the transaction would have terminated. However, the Company finds itself in a situation where definitive and complex agreements have essentially been agreed upon by the parties, but there has been no communications apparently due to another transaction involving the buyer.
Regardless of whether this transaction closes, the Company has retained a nationally known investment banking firm and charged it with monetizing its EES investment. During 2012, EES paid its members approximately $6.7 million in dividends. The Company’s goal is to monetize all or part of EES while maintaining the right to manufacture all equipment using Ozonix® technology. At the same time, the Company has requested the investment banker to solicit an interim bridge loan to provide working capital. We cannot assure you that the pending sale of a part of the Company’s interest in EES or those transactions through the investment banker will close.
When Hydrozonix failed to pay for Units 13-14, the Company and its majority-owned subsidiary, EES, had to take back the exclusivity it had granted Hydrozonix for the U.S. onshore oil and gas exploration market. The U.S. exclusivity for the patented Ozonix® technology for onshore oil and gas exploration was based on Hydrozonix receiving an approximate 25% discount off of the retail price of an Ozonix® EF80 system for agreeing to pay for two EF80 Units every quarter to maintain their exclusivity. The retail price for an EF80 was originally set at $4.5 million and Hydrozonix was allowed to purchase them for approximately $3 million plus paying a 20% EBIT royalty fee during their exclusivity period and a 15% royalty fee if they were to lose their exclusivity. At this time EES will now receive a 15% royalty of the EBIT of Hydrozonix for the life of the Ozonix® patents. If Hydrozonix was to sell their business to a larger service company we would still receive that royalty for the life of the Ozonix® patents. During the period from January 1, 2013-April 13, 2013, Hydrozonix principals assured Company executives repeatedly that they would be purchasing Units 13-14, as well as placing deposits on Units 15-16. Because of these promises from a customer that had been keeping up their end of the exclusive agreement, the Company, as the majority managing partner of EES, continued building Units 13-14 to be able to deliver these Units on time and on schedule. Units 13-14 were built on time and even tested and signed off for meeting its technical acceptance program by Hydrozonix at the Company’s Stuart, Florida facility by March 31, 2013. During the first quarter of 2013, Ecosphere was also completing its newest mobile Ozonix® demonstration Unit to be able to showcase its Ozonix® technology for mining, municipal, and agriculture applications. The Company and its subsidiary used a significant amount of its available cash resources on hand to manufacture these Units in order to be able to tender delivery to Hydrozonix as well as have equipment to build out its other vertical markets. As of the date of this filing, the Company does not have sufficient working capital on hand to sustain operations for the next 12 months. As of the date of this filing, our cash balance is approximately $255,000 and we have a working capital deficit of approximately $572,000. Our current assets total approximately $5.2 million, consisting primarily of finished goods inventory in stock that can be sold immediately, cash and accounts receivable. These current assets include Units 13-14 and a new demonstration Unit built to use the OzonixÒ technology in other fields of use. Our current liabilities total approximately $5.8 million. The Company now faces a need to immediately generate cash to fund its future working capital needs from one or more sources, including, but not limited to or exclusively, the sale of Units 13 and 14 that it has in inventory, and the realization of a portion of the value of its interest in EES. Among other things, the Company has been in discussions with a leasing company about a sale/leaseback of Units 13-14 and the demonstration Unit. We will also continue to focus our efforts on the sale of new equipment into the global oil and gas industry, now including the U.S.
The Company has been focusing on multiple approaches to provide the necessary working capital. As of April 15th Hydrozonix forfeited its exclusive rights and EES, the Company’s 52.6% subsidiary, has regained those rights to treat water in the U.S. onshore oil and gas exploration and production field-of-use. EES did not license Hydrozonix the U.S. offshore or international rights for Ozonix® and still retains those rights as well as the U.S. rights now for onshore oil and gas exploration and production. Management expects that, as a result of EES regaining rights to the U.S. oil and gas market, there will be opportunities for strategic partnerships that have the potential to accelerate market penetration within the U.S., and increased potential for financing through the sale of a portion of the Company’s interest in EES. Due to legal constraints, the Company and EES refrained from conducting any discussions with third parties while Hydrozonix had exclusivity. After April 15th, EES launched a marketing program to expand the use of its licensed technology. It has been engaged in meetings and discussions with third parties seeking to use the patented OzonixÒ technology in fracturing operations in a number of countries outside of the United States.
Our management is actively seeking to sell Units 13-14 and all future Ozonix® units they produce to a service company, an energy exploration company, or possibly injection well operators of which there are 150,000 in the U.S. that could use the Ozonix® technology to recycle produced and flowback waters. Again, it should be noted that the approximately $3 million price we sold the OzonixÒ Units to Hydrozonix was based on the volume discount of two Ozonix® EF80 Units per quarter, plus a 20% EBIT royalty during the exclusivity period and a 15% EBIT during the non exclusivity period. The retail price for each EF80 is actually $4.5 million. As disclosed elsewhere in this Report, we have received multiple awards from leading national companies as a result of the unique and environmentally important OzonixÒ technology that has treated over 700 wells and 3 billion gallons of water. This has increased our Company’s visibility, and we believe it will lead to future monetization. However, we cannot be certain as to the timing of the sale of our inventory Units 13 and 14. In addition to EES being able to now expand its service business beyond the two oil and gas drilling customers which the Hydrozonix agreement limited the Company to, EES can now sell OzonixÒ Units to customers including oil and gas exploration companies, oil and gas service companies, injection well operators, and trucking companies that are handling and recycling flowback and produced water for their customers. Assuming EES is able to sell new Units, the Company will manufacture them for EES as it did for the first 14 Ozonix® EF80 Units and the 26 Ozonix® EF10 and EF20 units. At the same time, our management has been actively engaged in seeking to obtain financing to provide the working capital until EES OzonixÒ sales resume. However, there can be no assurance that such financing will be available to the Company on acceptable terms.
Here is the problem, I think.
There were no equipment sales and licensing costs for the 2013 Quarter as compared to $4.1 million for the 2012 Quarter. The lack of equipment sales and licensing costs for the 2013 Quarter were due to Hydrozonix failure to pay for Units 13-14.
American Vanadium and Gildemeister Sign Master Sales Agreement for Cellcube Grid Scale Energy Storage Systems
American Vanadium Vertically Integrates into an Energy Storage Company
May 22, 2013 - American Vanadium Corp. ("American Vanadium") (tsx.v:AVC) (otcqx:AVCVF), announced it has entered into a master sales agreement with GILDEMEISTER energy solutions of Germany whereby American Vanadium will market and sell GILDEMEISTER's CellCube vanadium redox flow batteries in North America. The CellCube is a commercially available energy storage system, with over 50 systems installed globally, that is capable of scaling to multi hour and multi megawatt size. While American Vanadium will immediately initiate sales efforts using commercially available vanadium electrolyte, the goal is to integrate its own electrolyte supply from its Gibellini Mine in Nevada which is currently in the permitting phase.
"Coming quickly on the heels of our recently signed memorandum of understanding with GILDEMEISTER, this confirms the achievement of our goal of vertically integrating into an energy storage company that controls America's only domestic supply of vanadium, the critical element in the vanadium redox flow batteries," said Bill Radvak, President & CEO of American Vanadium . "Reliable and economic energy storage technologies have been cited as the 'Holy Grail' of the energy industry and, as a result of this agreement, American Vanadium will be able to immediately offer a market ready energy storage solution to wind and solar generators, emergency and remote power applications, as well as for grid reliability and efficiency optimization for commercial, industrial and military applications."
"With GILDEMEISTER as the world leader in commercial production of vanadium redox flow batteries, and American Vanadium having the only commercially viable source of high quality vanadium in North America, there are tremendous advantages to the development of the North American market for our CellCube energy storage system," said Lars Mollenhoff, Managing Director of Cellstrom GmbH, part of GILDEMEISTER energy solutions.
"Given that the CellCube battery will last twenty years and that our high purity vanadium electrolyte doesn't degrade and is fully recoverable, we have a significant performance and cost advantage over other large scale energy storage systems," said Ron Mac Donald, Executive Chairman of American Vanadium. "In addition to these advantages, we are developing innovative financial approaches to facilitate the sale of the CellCubes in America, including leasing the batteries entirely."
About GILDEMEISTER
GILDEMEISTER holds a leading position worldwide as a producer of cutting machine tools. The range it offers includes innovative high-tech machines and services as well as software and energy solutions. The Energy Solutions business division comprises five business divisions: Energy Efficiency, SunCarrier, Cellstrom, Service and Components. GILDEMEISTER is a globally operating enterprise; 135 domestic and international sales and service locations ensure direct contact with our customers. Some 6,347 employees contribute to the success of our enterprise.
About American Vanadium Corp.
American Vanadium is developing the only vanadium mine in the United States. The Company's
Gibellini Project, located in Nevada, is being designed to economically produce vanadium electrolyte for the energy storage industry, as well as vanadium products for the steel and alloying industries. A positive Feasibility Study and updated National Instrument 43-101 on the Gibellini Project were completed by AMEC E&C Services in 2011.
American Vanadium trades on the TSX Venture Exchange as a tier-one company under the symbol "AVC", the OTCQX Market under the symbol "AVCVF" and the Frankfurt Stock Exchange under the symbol "0UA".
ON BEHALF OF THE BOARD
Bill Radvak, President and CEO
For further information, please contact: Bill Radvak, President & CEO
Phone: (604) 681-8588 X 101
Email: bradvak@americanvanadium.com
or
Mike Hyslop, Director, Corporate Development
Phone: (604) 681-8588 X 102
Email: mhyslop@americanvanadium.com
Web site: www.americanvanadium.com
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Forward-Looking Statements: This press release contains "forward-looking information" within the meaning of applicable Canadian securities laws, including future plans and objectives for the Gibellini Project and the energy storage business. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of American Vanadium to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Forward-looking information includes estimates of mine production rates and mine life, revenues from future mining operations, capital and operating costs, and pay-back period. Factors that may cause actual results to vary include, but are not limited to, changes in project parameters as plans continue to be refined; future prices of vanadium; possible variations in reserves, grade or recovery rates; changes to capital and operating cost estimate, delays in obtaining governmental approvals or financing or in the completion of development or construction activities. We may not have adequate capital, financing or cash flow to sustain our business or implement our business plans. Statements contemplating or making assumptions regarding actual or potential sales, market size and demand, prospective business contracts, customer orders or trends in the energy storage market constitute forward looking statements. Our actual results may differ from those indicated in forward looking statements as the energy storage and renewable energy generation business is subject to significant economic, competitive, regulatory, business and industry risks which are difficult to predict and many of which are beyond our control. Our business performance may be adversely affected by a general decline in the economy, unavailability of capital or financing for prospective customers to purchase products and services from us, competition, changes in regulations, a decline in the demand for energy storage and other risks. Although American Vanadium has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. American Vanadium does not undertake to update any forward-looking statements, except in accordance with applicable securities laws.
www.accesswire.com/img.ashx?id=404367
Copyright 2013 ACCESSWIRE
http://www.marketwatch.com/story/american-vanadium-and-gildemeister-sign-master-sales-agreement-for-cellcube-grid-scale-energy-storage-systems-2013-05-22?reflink=MW_news_stmp
The Holy Grail for future batteries.
Well, so much for the enthusiasm.
All the larger buys today were above .80, but there appeared to be some profit taking after 2 PM EST. I think there is clearly some accumulation going on and perhaps it is simply related to the federal regulatory approval expected after 5/29.
This article indicates there is a pending federal approval for which the public comment period ends on 5/29/2013. Presumably, this would be under the radar of most investors, as is the company, but we are talking about the ONLY primary vanadium mining operation in the U.S. assuming production commences.
Better batteries could revolutionize solar, wind power
http://www.poughkeepsiejournal.com/article/20130513/NEWS04/130513006/Better-batteries-could-revolutionize-solar-wind-power
It looks like some investors are giving up, as report after report indicates little change in the downward spiral of revenue. There can be little doubt now that the only hope is some loosening of the government purse strings with respect to all the unreleased funding for pending contracts. I suppose there might be some very slight hope of prevailing against Lockheed in the litigation, but I suspect their lawyers can outlast ours even if our case is stronger.
Quarterly Report (10-q)
http://ih.advfn.com/p.php?pid=nmona&article=57583267
The nibbling has turned into something more akin to gobbling. I think we may well be seeing positive news soon.
Eurotwit banking elites announce the possibility of negative deposit rates to encourage the growth of highly desirable irresponsible lending by member banks!
European Central Bank governing council member, Ignazio Visco, goes on record favoring the "unintended consequence" strategy of monetary policy!
ECB's Visco: Deposit Rates Could Go Below Zero
http://www.cnbc.com/id/100730472
Starpharma’s dendrimer a potential viral conjunctivitis treatment
https://www.otciq.com/otciq/ajax/showFinancialReportById?id=104259
A new episode of the popular soap opera, "As the Euro Burns", is being written and should be ready for prime time soon!
Fallout from €10bn Cyprus bailout clouds EU bank bail-in plans
http://www.ft.com/intl/cms/s/0/901823ae-ba87-11e2-b7c3-00144feab7de.html#axzz2T5Nv2YqJ
Aurizon Receives Final Court Approval of Plan of Arrangement
Aurizon Mines (AMEX:AZK)
Intraday Stock Chart
Today : Friday 10 May 2013
Aurizon Mines Ltd. (TSX:ARZ)(NYSE MKT:AZK) ("Aurizon" or the "Company") is pleased to announce that the Supreme Court of British Columbia has today granted the final order approving the previously announced Plan of Arrangement with Hecla Mining Company.
Completion of the Arrangement is subject to various conditions, including Hecla receiving approval under the Investment Canada Act.
Contacts:
Aurizon Mines Ltd. - Investor Contact
Jennifer North
Manager Investor Relations
604-687-6600 or Toll Free: 1-888-411-GOLD (4653)
604-687-3932 (FAX)
jennifer.north@aurizon.com / info@aurizon.com
www.aurizon.com
Longview Communications - Media Contact
Trevor Zeck
(604) 694-6037
Aurizon Securityholders Approve Plan of Arrangement
Aurizon Mines (AMEX:AZK)
Intraday Stock Chart
Today : Friday 10 May 2013
Aurizon Mines Ltd. (TSX:ARZ)(NYSE MKT:AZK) ("Aurizon" or the "Company") is pleased to announce that its securityholders have approved the Company's previously announced Plan of Arrangement with Hecla Mining Company.
99.5% of the votes cast by Aurizon securityholders were voted in favour of the special resolution to approve the Arrangement at the Special Meeting of shareholders and optionholders held earlier today.
Completion of the Arrangement is subject to various conditions, including final court approval and Hecla receiving approval under the Investment Canada Act.
U.S. Registration (File 001-31893)
Contacts:
Investor Contact:
Aurizon Mines Ltd.
Jennifer North, Manager Investor Relations
604-687-6600 or Toll Free: 1-888-411-GOLD (4653)
604-687-3932 (FAX)
jennifer.north@aurizon.com / info@aurizon.com
www.aurizon.com
Media Contact:
Longview Communications
Trevor Zeck
(604) 694-6037
I'm still mystified at the recent strategy of many AZK investors who sold at 3.60 and less. What were they thinking? Either, they did not understand the Hecla deal or I'm missing some major warning sign.
Full disclosure: I'm usually the last one to catch on.
If I read this press release correctly, the cash payout per share will be around $3.46 prorated. A little disappointing, but not much less than the Alamos offer. Still, the price of gold is probably the most significant factor at this point.
http://ih.advfn.com/p.php?pid=nmona&article=57473323&symbol=AZK
I opted for the $4.75 yesterday on most of my AUZ holdings. Although I was conflicted about the move, I think there is a lot of confusion about the value of this deal between Aurizon and Hecla.
More upside nibbling today. Perhaps someone knows something positive is coming?
Dateline France: Austerity Over! (before it begins)
France Declares Austerity Over as Germany Offers Wiggle Room
http://www.bloomberg.com/news/2013-05-05/france-declares-austerity-over-after-germany-offers-wiggle-room.html
There appears to be a little upside nibbling going on today.
One would have to assume many investors don't understand the cash option of this deal, OR they don't believe it. Of course, it does say "subject to proration", but it seems unlikely any proration would be nearly as large as the difference between the $4.75 and the current price around $3.60. I could understand taking the cash and buying back at a lower price, but selling now at this level seems inexplicable to me.
The all cash deal is certainly looking better at $4.75 today as the market appears to be discounting the value of the combination of the two companies to only .20 to .25 more than Hecla alone!
Unless you actively "file an election" by 4 PM EDT tomorrow, you will receive .9953 of a Hecla share and no cash. The problem shareholders face, in my humble opinion, is exactly what a Hecla share will be worth after the consummation of the acquisition. Unfortunately, neither Aurizon or Hecla has done a very good job of clarifying the issue.
"In view of the potential for significantly different treatment of shareholders who file an election and those who do not, shareholders are urged to file an election. If an election is not made, the shareholders will be deemed to have elected to receive 0.9953 of a Hecla share in respect of each Aurizon share, subject to pro-ration. Hecla's closing share price on May 3, 2013 was US$3.44 on the NYSE. The cash election consideration is $4.75 per share, subject to pro-ration."
Aurizon Mines: Environmental Authorities No Longer on Site at Casa Berardi (Dow Jones)
Interestingly, Hecla (HL) is up nicely so far today. Go figure.
http://investorshub.advfn.com/Hecla-Mining-Co-HL-6097/
While it may be little more than irrational panic, the markets clearly don't believe the company is telling the whole truth about this incident. Management needs to provide more public information immediately. Of course, it may be a great opportunity for Hecla to buy some cheap shares if such a move is legal or possible.
There appears to be continued apprehension among investors about this "minor" spill. It would be nice for the company to issue a statement to further reassure the markets, and even better if the government agency with oversight would issue a report. How hard could it be to take a few pictures and detail the extent of any release into the environment?
Well, that was scary.
"Corrects first paragraph to clarify that spill was in the region of James Bay, not the body of water"
http://www.marketwire.com/press-release/aurizon-reports-minor-discharge-at-tailings-facility-at-casa-berardi-mine-tsx-arz-1786028.htm