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URZ may be waking up with higher prices on the highest volume day in at least 6 months and the day is still short. No news, maybe just the renewed interest in Uranium sector or a realization that power from uranium is a viable low cost safe choice. An insider recently purchased 80k plus shares.
LT_Matt Please let us know if that works and what broker it worked with. Thanks in advance .
Acadian Mining reports first profit from operations
HALIFAX, May 16, 2008 (Canada NewsWire via COMTEX News Network) --
Trading Symbol: ADA:TSX; C2Z-Frankfurt
Shares Outstanding: 142,312,907
Acadian Mining Corporation (TSX: ADA) ("Acadian" or the "Company") announced its first quarter financial results for the three months ended March 31, 2008 and information on its Scotia Mine operations, highlights of which are presented in Tables 1 & 2 below. Complete financial statements, management's discussion and analysis of results, and letter to shareholders are available on the regulatory filing site, www.sedar.com and the Company's website, www.acadianmining.com, and should be read in conjunction with this news release.
The Company realized net income of $912,173 on revenues of $9,832,088 from zinc and lead concentrate sales for the quarter. This quarter marks the first profits the Company has had as a producer of base metals.
CRK If you want to take a look at a small market cap junior exploration play in the middle of a successful drill program proving up both platinum and palladium with a number of good short term catalysts, have a look at Nortec Ventures NVT.v
Latest press release Title April 22, 2008:
Nortec Ventures (NVT) announces high Platinum Group and Gold values from the Phase II core drilling
program, Kaukua Platinum-Palladium-Gold-Nickel-Copper Property, Northeastern Finland
Below is results from the first 2 holes of Phase 2 (holes 3 - 5 are pending) as well as all NI and CU
Nortec Drills 30.20 metres (From 83.75 metres To 113.95 metres) of 1.95 g/t PGE + Gold including 10.50 metres (89.10 metres To 99.60 metres) of 3.05 g/t PGE + Gold in Hole Kau08-009 at Kaukua, Finland. Nickel and Copper assays are pending.
Phase 3 deeper drill program being planned and ready to start anytime.
The mineralization at Kaukua appears to have very similar modes of occurence as to North American Palladium's (TSX-PDL) Portimo(Arctic Platinum) Platinum Deposit which is located approximately 75 km to the West. Outokumpu and Goldfields had previously delineated 74.1 million tonnes grading 1.39 grams/tonne PGE + Gold (approx. 3.3 million ounces) at Portimo.
I've spoken with Ackerman exploration heading the drill program and he's real optimistic with the area and results thus far.
My last post.
http://investorshub.advfn.com/boards/read_msg.asp?message_id=28691440
NVT.v Halted. Don't know weather we have anything here or not but volume sky rocked 10X last hour yesterday first 2 hours today. Good chance they found better grades in Phase 2 of their drilling program or that they started Phase 3 of deeper drilling. I took a shot at this small exploration company because the adjacent land is rich in discoveries, its in safe Finland, CEO Mohan (an accomplished geologist for over 30 years with many years public company experience) recently recieved 600,000 options to purchase 600,000 shares at an exercise price of $0.30, no other cheap warrents are hanging, insiders have been buying, Pinetree is behind it, and the Market cap is only 16 mil.
Market Regulation Services - Trading Halt - Nortec Ventures Corp - NVT
Time of Halt: 10:58 ET
VANCOUVER, BRITISH COLUMBIA, Mar 6, 2008 (Marketwire via COMTEX News Network) --
Further to the press release dated February 12, 2008, Nortec Ventures Corp. (TSX VENTURE:NVT), ("Nortec" or the "Company"), announces that Phase II diamond drilling has commenced on the Kaukua Platinum - Palladium - Gold (PGE + Au) - Nickel - Copper project located in Northeastern Finland.
A third phase of core drilling consisting of deeper down-dip holes is being planned. The Company is at present in discussions with a company with a drill capable of drilling 300 to 400 metres. Nortec will inform the shareholders once the Phase III drilling contract is signed.
Nortec is also in discussions with SJ Geophysics of Vancouver, to carry out a 3-D (three dimension array) Induced Polarization (IP) survey in areas to the south and west of the mineralized zone intersected by drilling to date. This will assist in further targeting the higher grade mineralization.
Upon completion of the Phase II drilling program, Nortec will initiate a National Instrument 43-101 report to calculate any potential resources under a drill indicated/inferred resource category. Polished-section and Metallurgical studies of representative mineralized core samples will also be carried to determine the nature of mineralization and PGE, Nickel and Copper recoveries.
ILI.v Anyone else been stuck in this one? ILI Technologies Receives Exclusive Distribution Rights in China for Thermoflex Tubing
CALGARY, AB, Apr 21, 2008 (MARKET WIRE via COMTEX News Network) --
ILI Technologies (TSX-V: ILI) is pleased to announce that it has received exclusive distribution rights for Thermoflex Tubing and associated connectors in China. This is a major development for ILI as it opens up a very large new sales region in a country that is experiencing increased oil and gas activity to meet growing demand for energy. The signing of this distribution agreement will allow ILI to capitalize on its office opened up in Shanghai, China last year.
Thermoflex Tubing is currently being used to replace old flowlines which are in need of replacement or repair as well as by companies looking for longer-lasting and more efficient methods of flowlining new wells. The product has been proven to be quick and easy to install and can withstand pressure and corrosion better than standard piping methods.
In Mexico, ILI Technologies has also recently incorporated a new Mexican subsidiary. Many sales opportunities in Mexico are only available to Mexican registered companies and this new subsidiary will enable the company to bid on these projects. ILI is presently negotiating on several large potential contracts in the Mexico region.
ILI Technologies (2002) Corp. is a high technology company, whose principal business is to develop, manufacture and market oil and gas industry Information Technology (IT) and Operational solutions that improve business performance. ILI's business development efforts have shown excellent results, with the addition of a number of new customers from our CBM Pumps and Services Inc. acquisition and the addition of new sales, management and service teams in our offices in Alberta, Texas and Wyoming. ILI Technologies (2002) Corp. is also in the process of developing other new product lines to add to its suite of existing products.
Could it be true? Greg McCoach speaks
http:/
/www.stockhouse.ca/bullboards/viewmessage.asp?no=22693447&tableid=0
HI,
I asked Greg McCoach and was delighted he replied about ADA in a recent e-mail I hope he doesnt mind me putting a 'snippet' regarding ADA and whats going on with the price. .
I feel like throwing the towel in myself but as he says 'hang in there' and I am - I havent sold a single share of ADA to date am down on the stock having purchased $1.10 but I bought more at 67c and 79c.
ADA should be on the rooftops shouting 'WE HAVE GOLD'
Boy do I hope he is right.
Thanks for your email. I appreciate your comments.
>
> I agree with you that our market is very trying right now, but again I say stay the course and make sure you have a position in cash and the physical precious metals. Our junior market is being shorted by several hedge funds out of New York, and may still be affected by those needing to sell in the next six weeks in order to raise cash for taxes in April. My take is that we are going to get a nice run in our stocks late April early May as the metals prices for gold and silver make very big runs which will pull our stocks out of the hole they are in.
>
> As far as the top ten list goes, I did move Acadian down in the February newsletter in anticipation of the PolyMet permit announcement. This was mentioned in the Company update section where I talk about changes to the top ten list. Personally, I don't see Acadian as a tax loss situation at all. Zinc prices have been recovering to much better levels as I had hoped and profitability will only get better. The company does have a perception problem right now and needs to get something done to get value for the gold projects
NGG.v My 2nd and soon to be largest position. New company brochure out link below. Lot of short term catalyst coming. I think when the company confirms they produced 3000 OZ of gold in March 08 or even April, we are going to see the market move hard on these shares. Gold production, Cash in the bank, drills turning, NI 43-101 on its way.
Imwauna with the potential to be a heavy producing high grade open pit mine will be the 2nd large catalyst for later in the year.
http://www.newguineagold.ca/brochures/NGGQ1-e-mailletter.pdf
ILI.v Looks like the troubles could be in the rear view mirror. Multi million dollar contracts and first job in the states starting march08
ILI Technologies (2002) Corp.: ILI Technologies Signs New Thermoflex Pipe Contracts
Calgary, Alberta CANADA, Feb 26, 2008 (M2 PRESSWIRE via COMTEX News Network) --
ILI Technologies (2002) Corp. (ILI - TSX Venture), is pleased to announce that it has signed several new contract agreements for its Thermoflex Piping and associated connectors. These new agreements will continue the Company's revenue growth and are expected to lead to increasingly larger orders as initial applications are completed and tested.
In Mexico, ILI Technologies has been contracted to install a downhole string in a highly corrosive environment with a major international oil and gas service company. The first well is expected to be completed in March 2008. ILI is in negotiations for a multi-million dollar multi-well 24-month contract after the first well is completed and tested to ensure that all quality parameters are reached.
In the Northern region of Mexico, ILI Technologies is working on a direct assignment contract covering approximately 40km for its Thermoflex Piping. This project is expected to commence in April 2008.
The Company has also been selected to supply a major oil and gas company in Wyoming with Thermoflex Piping starting in March 2008. This project is expected to run approximately 30 months. This agreement is the first major contract for ILI's Thermoflex Piping outside of Mexico and marks the opening of a significant new market as Thermoflex Piping gains international acceptance.
ILI Technologies also continues to progress in negotiations for several significant orders in Mexico and the US. Negotiations can be lengthy when dealing with major international producers and service companies but ILI is confident that its superior products and services will lead to several additional orders during 2008.
ILI Technologies is also pleased to announce that it has been invited to present its Thermoflex Pipe at the 9th Annual International Pipeline Conference Exhibition sponsored by Pemex in the city of Villahermosa, Tobasco, Mexico in early March 2008. For more information on the Conference, investors can visit www.pemexpoductos.com.
ILI Technologies (2002) Corp. is a high technology company, whose principal business is to develop, manufacture and market oil and gas industry Information Technology (IT) and Operational solutions that improve business performance. ILI's business development efforts have shown excellent results, with the addition of a number of new customers from our CBM Pumps and Services Inc. acquisition and the addition of new sales, management and service teams in our offices in Alberta, Texas and Wyoming. ILI Technologies (2002) Corp. is also in the process of developing other new product lines to add to its suite of existing products.
cl001 Those are the 3 I'm counting on as well. NGG warrants are done converting and the vats are brewing. 3000oz AU production per month at $200 cost may be happening as we speak. I don't think traders believe it.
For the future, drills are turning at the Imwauna Project (Normanby Property) and it has the makings to be a twice as big with lower cost than Sinivit.
Great NGG interview by Jay Taylor last mth
SAM walked into a turn key deal, would trade at a minuscule 1.5CF or less, if they ramp production to their 740tpd to 1000tpd capacity they claim possible. 45 million warrants will provide upward resistance of near $1
ILI.v Anyone else notice the bids improving the last couple days?
AUN Great news. Aurcana begins $1.7-million program at Rosario.
Historical resource grade was 136 grams/tonne with the existing mill refurbishment scheduled for an 09 completion. Can more modern efficiencies increase the 136 grams/tonne grades?
cl001 Uranuium, How do you contrast the forecast you posted compared to the survey of 16 analysts below? Possibly that article is focusing on short term demand. Surely their will be increased long term demand as the world continues to develop nuc energy.
Strong demand to boost spot uranium price in 2008
Tue Jan 22, 2008 8:00am EST
By Anna Stablum
LONDON, Jan 22 (Reuters) - Uranium spot prices are forecast to climb this year on stronger demand, but rising supplies are expected to cap the market in 2009, a Reuters survey showed.
A survey of 16 analysts conducted over the last month produced an average mid-range price for spot uranium UX-U3O8-SPT of $106.90 per pound in 2008 and $91.90 in 2009.
The average weekly price in 2007 was $98.55 a pound, according to leading price publisher Ux Consulting.
Analysts say prices will ease next year on rising supplies, mainly from Kazakhstan, but also from Canada and southern Africa.
"Uranium is likely to stay relatively strong until new production comes on stream later in the year," analyst Charles Kernot at Seymour Pierce told Reuters.
Uranium, a silvery white metallic element, was last week trading at $89.5 on the spot market, compared with $7 in 2000. "In the short term, we think that the downside for uranium spot prices from current levels is very limited," said analyst Max Layton at Macquarie Bank.
A recent surge in prices was fuelled by global concerns about energy security and a worldwide hunt for alternatives to high carbon-emitting fossil fuels.
Prices jumped to a record high of $136 in June, bolstered by tight market conditions and speculative buying.
Increased activity by funds and speculative buying was seen helping drive prices to around $125 per pound by mid-year, said Gene Clark, executive officer at uranium consultancy TradeTech.
"But waning interest in late 2008 and through 2009 is expected," he added.
"SUPPLY-SIDE CONSTRAINTS"
Financial players together with utilities would be the main price drivers in 2008, analysts said.
Data in October from the World Nuclear Organisation showed 33 reactors under construction and 94 ordered.
Producers are expected to continue to meet long-term contract commitments by purchasing spot metal due to supply disruptions.
"Although the demand for nuclear generated power has the potential to dramatically increase amid the global clamour over greenhouse emissions, supply-side constraints represent the largest upside price risk," said Joel Crane at Deutsche Bank.
Australian cyclones, water problems in Canada and a lack of sulphuric acid in Kazakhstan have put a lid on supply for now.
But with producers determined to take advantage of high prices, more output is expected during the second half of 2008.
"Production will start to ramp up near the end of 2008 and into 2009, so prices will start to come down by the end of this year and next year," economist Dina Cover at Toronto-Dominion Bank said.
Additional supply is seen coming from Paladin's (PDN.AX: Quote, Profile, Research) Langer Heinrich mine, Uranium One's (UUU.TO: Quote, Profile, Research) Dominion Reefs mine and the existing Rossing under Rio Tinto (RIO.L: Quote, Profile, Research).
Kazakh producer Kazatomprom has said a shortage of sulphuric acid will be resolved by May 2008 and Uranium One has also secured supplies of acid by investing in a Russian plant.
"By 2009, increased world production from new sources and an easing of supply tightness due to resolution of production problems from existing producers will relieve the upward pressure on spot (cash) prices," TradeTech's Clark said.
Longer term, the price is seen easing even more with JP Morgan forecasting an average weekly price of $90 in 2008, $85 in 2009, $80 in 2010 and $75 in 2011.
(Details of spot uranium price forecasts can be accessed by clicking on COMMODITYPOLL25)
(For story on base metals survey click on [ID:nL21421890])
(Additional reporting by Cameron French in Toronto and Carole Vaporean in New York)
(Editing by Chris Johnson)
© Reuters 2007. All rights reserved. Republication or redistribution of Reuters content, including by caching, framing or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters and the Reuters sphere logo are registered trademarks and trademarks of the Reuters group of companies around the world.
Reuters journalists are subject to the Reuters Editorial Handbook which requires fair presentation and disclosure of relevant interests.
roguedolphin - right on brother - distressed real estate - cherry picking BOP'S. Buying at .30 cents on the dollar all day long of todays appraised value.
ATPG Thanks CL I happily took some at 36.50 yesterday.
swanlinbar OT
http://detroit.craigslist.org/rfs/531940239.html
Here is a typical situation in our market if you want to check it out hit the link. This is a steal in a very clean blue collar neighborhood in Centerline MI north of Detroit. This home will rent for 850 900 per month and can be had for probably around 35k with little work. My hands are full or I'd be all over it.
Funny, I saw a for sale by owner 3 doors down with the same home and asked him why his house was 115k and the same house 3 doors down was only 39k. He answered "well thats a foreclosure" I chuckled under my breath. Doesn't make sense, but the banks are unloading. Cherry picking these makes for a little risk investment.
Dick Milde/Lentinman OT Rents may go down some and yes, supply may keep increasing relative to the demand, as banks reduce their inventories and more vacant homes change hands to home owners, but rents are still better now than 06 or 07 and tenants are lining up. Here in Michigan I’m cherry picking distressed properties in Detroit suburbs at 30 cents on the SEV x 2 or the figure the state values your home at based on their 3 year comp avg. Current renters will pay off my new purchased homes in 5 years and give me a cash on cash return of 1200% in 5 years after I sell the home.
If I cherry pick REO real estate at 30 cents on the highs of 2 years ago with 10% down and home averages have decreased a total of 33% from the highs, my 5k to down pay and reddy up a 29k purchase will net 60k as I sell a tenant paid off home for 65k in 5 years. This assumes I have 2 months vacancy with maintenance out of pocket. This would be a home I purchased for 29k that previously sold for 100k 18 mths ago. Why do I care if rents go down 10%? My numbers change to the downside only a small amount. What stinks is the home I live in or any real estate I had earlier has worked against me recently and probably will, as you say, for awhile.
URZ.v Got crushed yesterday on good news of acquisition and with NI 43-101 report due out in 45 days. I called the company this AM when I could have paid less than 2.20 a share, but got no answer or return call. I was going to play the bounce, provided I couldn't find a reason for the dip. +.50, 850k in volume and a few hours later I'm ticked. Whats the IR department for?
cl001 Bring it on with those 3. I'm tired of waiting. I'm up on NGG and SAM but hammered on AUN. Expect to be way up on the trio sometime this summer and after the warrents clear up on NGG
URZ Getting crushed on good news of acquisition and NI 43-101 report due out in 45 days. Anyone know why
Trades at .12 Captain that tape painting was suspiciously good and yesterdays trading was enlightening to see someone accumulating or covering.
Todays trading, suspicious or enlightening??? We'll see what the afternoon brings
SO far
1:48:36 PM Trade 0.12 1000
1:28:10 PM Trade 0.12 500
12:25:24 PM Trade 0.1 6200
11:58:44 AM Trade 0.12 850
11:28:02 AM Trade 0.1 5000
11:01:26 AM Trade 0.12 500
ALL volume at .10 or better today
3:59:04 PM Trade 0.11 5000
3:58:56 PM Trade 0.11 5000
3:58:42 PM Trade 0.11 100
3:58:40 PM Trade 0.11 5000
3:58:12 PM Trade 0.1 200
3:57:50 PM Trade 0.11 500
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3:15:48 PM Trade 0.1 1000
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2:52:58 PM Trade 0.1 1500
2:52:28 PM Trade 0.1 5000
2:52:14 PM Trade 0.1 3000
2:52:14 PM Trade 0.1 1484
2:52:14 PM Trade 0.1 5000
2:52:14 PM Trade 0.1 1120
2:52:14 PM Trade 0.1 5000
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2:52:14 PM Trade 0.1 5000
2:52:14 PM Trade 0.1 6000
2:52:14 PM Trade 0.1 192
2:52:14 PM Trade 0.1 5000
2:52:14 PM Trade 0.1 6950
2:52:10 PM Trade 0.1 40000
11:02:36 AM Trade 0.1 1150
Bobwins TRGD No comment on the news LOL? No need to wonder what the companys thinking anymore with todays PR. Now lets finish the financial s so we can give them more credibility and weight this PR even higher.
2008-01-08 08:55 CT -
News Release
CHICAGO, IL
-- (MARKET WIRE)
-- 01/08/08
(PINKSHEETS: TRGD) (FRANKFURT: T8N) -- Tara
Gold Resources Corp. is pleased to provide an update on its current
projects. Tara Gold is positioned to realize value from a pipeline of nine
production and exploration projects in Mexico, an aggressive acquisition
strategy, and dedicated management.
Tara Gold is currently producing gold and silver from La Currita and
expects production start-up from Picacho and Lluvia de Oro during the first
half of 2008. In addition, Tara Minerals, an 82% owned subsidiary, expects
to be producing from its Don Roman Lead Zinc, Silver project during the
first half of 2008. Exploration and development risk is managed through
partnerships. These partnerships have resulted in partner option agreements
totaling US $40+ million in investments towards Tara Gold projects. Option
interests are earned by partners in exchange for cash, shares, property
payments and development costs, thus advancing many properties
simultaneously.
Mr. Francis Biscan Jr., President of Tara Gold Resources, stated, "Tara
Gold's growth is accelerating at the same time Gold and Silver are making
new highs. Cash flow from production is expected to increase substantially
as Picacho and Lluvia de Oro are scheduled to see production startups in
the first half of 2008. Tara offers investors excellent value and exposure
to growth with a diversified portfolio of both precious metals (through
Tara Gold) and base metals (through 82% ownership of Tara Minerals Corp.)
properties. With multiple multi-million ounce targets and additional near
term production scenarios, Tara Gold's is positioned to continue to deliver
strong growth while limiting its risk exposure."
Management continues to be focused on delivering shareholder value by
completing financial audits, listing on a senior exchange, growing
production, enhancing exposure and acquiring additional advanced projects.
A complete project update is provided below.
La Currita, Temoris, Mexico
Gold and Silver Mine - in production, expansion under assessment
Tara is currently producing mill tailings at a rate of approximately 300
t/d with an operating profit of U.S.$42.00 per tonne. Plans have been
initiated to shift production to mined ore which should deliver head grades
of approximately 3 times the value of the mill tailings. Additionally,
plans are being made to expand the plant to 500 t/d. Two parallel
mineralized vein systems have been identified -- the Sulema I and Sulema
II. The head grade from the underground clean-up and Sulema II vein
averages 200 g/t silver and 1.2 g/t gold while the open pit grades are
significantly higher, reaching 750 g/t silver and 12 g/t gold and higher.
Sampling has already shown the Sulema I vein to be at least 1,000 m long
and is currently open in all directions. La Currita is located adjacent to
Palmarejo (recently sold for US$1.1 billion) with some of the same vein
systems continuing into La Currita. Given the consistency of the veins, the
potential for significantly increasing the tonnage at La Currita is
excellent.
Shareholder value will be enhanced through expanded production, an
aggressive exploration program and a 43-101 resource estimate. Raven Gold
Corp. has an option to earn up to 60% interest in the La Currita Groupings
by making certain payments to Tara Gold, issuing 1,500,000 shares, making
all remaining property payments (which have been made) and spending a
minimum of $4.25 million by Nov. 2009. $1,375,000 of this is required to be
spent, on exploration, by May 10, 2008. Tara is generating positive cash
flow from La Currita and does not expect expenditures directly during 2008.
All costs are the responsibility of the partner.
Lluvia de Oro, Sonora, Mexico
Gold Mine - scheduled to be in production by Q2 2008
Tara is working with its partner to quickly bring the former producing mine
back to commercial production at an initial rate of 3,000 ounces/month
during the first half of 2008. A Pre-Feasibility report confirmed economic
and technical viability of the 286,948 ounces of NI 43-101 compliant gold
with an increase possible through drilling. Mineralization is open along
strike in both directions.
Shareholder value will be enhanced as 20% of the Net Cash Flow from the
processing plant begins to flow to Tara Gold. Tara Gold signed an agreement
with Columbia Metals Corporation, whereby Columbia can acquire 100%
interest, subject to Tara's ongoing 20% Net Cash Flow interest from any
revenue generated from the processing plant, by making payments totaling
$4,337,500, and issuing 1,000,000 shares to Tara Gold. Tara expects to
generate positive cash flow from Lluvia de Oro and does not expect
expenditures directly during 2008. All production start-up costs are the
responsibility of the partner.
Picacho, Sonora, Mexico
Gold and Silver Mine - plan to aggressively explore and produce in 2008
The Picacho Gold and Silver Mine includes rolling stock and an extensive
processing facility currently capable of 250 t/d. The previous owners mined
an up to 5 m wide vein structure for 3 years by driving a 5 m by 5 m ramp
declining 8% extending over 1 km in length. Production came from several
working faces averaging 4-6 m in width. Phase I drilling in June 2007
yielded 11.28 m of 15.57 g/t gold and 32.41 g/t silver. The work confirmed
and expanded upon historic data derived from 22 previous holes. It also
identified the potential for parallel zones with a combined length of 8.5
km.
Tara Gold signed at agreement with La Camera Mining Inc. whereby Camera can
purchase a 70% undivided interest in Picacho with Tara Gold retaining a 30%
carried interest once Camera earns its 70%. Shareholder value will be
enhanced as La Camera plans to determine the best economics to optimize
production, upgrade the mill and increase the resource from well defined
targets.
La Camera is considering a 10,000 m drill program to define resources and
test new targets. Production is also expected to commence during the first
half of 2008 at an initial rate of 550 t/d which is equivalent to
approximately 30,000 ozs Au/yr and 145,000 ozs of Ag/yr. The partnership
will share the revenue at 30% to Tara Gold and 70% to La Camera. La Camera
will provide production start-up capital and invest $6 million towards
exploration over the next 3.5 years. Tara expects to generate positive cash
flow from Picacho and does not expect expenditures directly during 2008.
San Miguel, Chihuahua, Mexico
Significant Silver Discovery - 2 drills currently drilling
To date, more than 24,000 m have been drilled and more than 1,800 m of
trenching has been completed on just 5 km of the more than 8 km long
mineralized structure. Structural, 3D modeling, geophysics and other survey
work is currently being completed to help define deeper targets and
potentially additional parallel systems. In January 2007, an NI 43-101
report outlined an inferred resource of 35M oz silver equivalent.
Shareholder value is being enhanced significantly through the ongoing US$10
million, 50,000 m drilling program. 47 of the last 53 drill holes
intersected economic grades of silver, gold, zinc and lead. 30 holes are
pending assay. The partnership has considerably enhanced the project
technical team in an effort to systematically, and with the highest level
of confidence, drill the growing resource. Tara Gold has a 30% / 70% joint
venture agreement with Paramount Gold Mining Corp. Under the joint venture
agreement, Tara Gold has 90 days to review all exploration expenditures
prior to making its proportional payment. Tara Gold is current with its
proportion of the payments and expects its proportions of the 2008
exploration costs to be approximately $250-$400,000 per month. Tara Gold
has budgeted for these costs.
Las Minitas, Sonora, Mexico
Gold and Silver Target
A gold-silver system has been uncovered at the Las Minitas property in
southwestern Sonora State, Mexico. The mineralization corridor is believed
to cover a minimum 3 km strike length and is approximately 100 m wide. The
El Negro target intersected 3.12 g/t gold and 43.80 g/t silver over 24.5 m,
including a 1 m section grading 26.07 g/t gold, 273.50 g/t silver.
Historical information indicates that 3 zones of interest are present.
Tara Gold is currently in a dispute with its previous partner regarding the
Las Minitas Option Agreement and is assessing its options to advance the
property. Tara Gold has budgeted for legal fees and property payments.
La Millonaria, Chihuahua, Mexico
Gold and Silver Target - exploration start-up in 2008
La Millonaria is a 20-30 meter wide silicified and stockwork veined,
east-west trending structure that can be traced on surface for a minimum
distance of 600 m, with additional workings present up to 2 km along
strike. Scattered prospects and adits are present along the structure and
selective historical mining has reported recoveries of 10 g/t gold on
average.
Tara Gold signed at agreement with La Camera Mining Inc. whereby Camera can
purchase a 70% undivided interest in La Millonaria with Tara Gold retaining
a 30% carried interest once Camera earns its 70%. Shareholder value will be
enhanced as La Camera plans to systematically and aggressively explore the
defined structure and conduct a regional survey towards testing the larger
potential as illustrated by the close proximity of Millonaria to both the
Palmarejo and the El Sauzal mines. The structure appears to be strongly
mineralized and hosts the potential to significantly expand the current
zone. It also has the potential to generate cash flow in a relatively short
to intermediate timeframe by processing the approximately 30,000 t of
material on the property.
For Millonaria, La Camera will spend $3.75 million over the next 3.5 years
and make all underlying property payments. Tara does not expect
expenditures directly during 2008.
Curcurpe, Northern Sonora State, Mexico
Gold Target - exploration start-up in 2008
Curcurpe is located in the Curcurpe Mining District which hosts Carlin type
gold deposits. The Curcurpe Project covers 6,000 hectares with multiple
targets and historic mining over 1.5 km. There are high concentrations of
gold-silver bearing vein deposits in the central and eastern parts of the
Curcurpe District. Within Curcurpe, a vein structure has been traced for 3
km with grades between 1-8 g/t gold. Disseminated mineralization outside
the main vein has shown grades of 1-2 g/t gold. Curcurpe is in close
proximity to projects owned by Meridian and Penoles.
Tara Gold signed at agreement with La Camera Mining Inc. whereby Camera can
purchase a 70% undivided interest in Curcurpe with Tara Gold retaining a
30% carried interest once Camera earns its 70%. Shareholder value will be
enhanced as La Camera plans to systematically and aggressively explore the
defined structure and conduct a regional survey towards testing the larger
potential.
For Curcurpe, La Camera will spend $3.75 million over the next 3.5 years
and make all underlying property payments. Tara does not expect
expenditures directly during 2008.
Tara Minerals Corp., Mexico
Base and Industrial Metals - engineering study currently under way towards
production
Tara Gold established Tara Minerals Corp. to hold all base and industrial
metal projects. The separation maximizes shareholder value and reduces
dilution of precious metal holdings. Subsequently, Tara Minerals raised
US$2.5 million by selling 5,039,200 shares priced at $0.50 per share. Tara
Minerals currently controls 100% of 3 lead, zinc and silver properties.
Tara Gold owns 82% (30 million shares) of Tara Minerals.
Tara Minerals has filed an SB2 towards obtaining a public listing in 2008.
It has also begun installing equipment at the Don Ramon and Lourdes project
towards production start-up by Q2 2008. Cash flow from production will be
used to start aggressive exploration programs in an effort to establish NI
43-101 compliant resources. Tara Minerals has 36,539,200 shares issued.
Tara Gold does not expect expenditures directly during 2008.
About Tara Gold Resources Corp.
Tara Gold Resources Corp. is a growth-oriented precious metals exploration
and development company with existing production plants. It is management's
objective to become a significant gold and precious metals producer by
re-initiating and increasing production levels at La Currita, Lluvia de Oro
and Picacho, and developing the San Miguel, La Millionaria, Las Minitas and
Curcurpe projects in Mexico. We continue to acquire other advanced-stage
projects and/or producing mines in one of the most prolific precious metal
districts in the world. For more information, please visit the Company's
web site at: http://www.TaraGoldResources.com.
Safe Harbor Statement under the Private Securities Litigation Reform Act of
1995: The statements contained herein which are not historical are
forward-looking statements that are subject to risks and uncertainties that
could cause actual results to differ materially from those expressed in the
forward-looking statements, including, but not limited to, certain delays
beyond the company's control with respect to market acceptance of new
technologies or products, delays in testing and evaluation of products, and
other risks detailed from time to time in the Company's filings with the
Securities and Exchange Commission.
Contact:
Tara Gold Resources Corp.
Website: www.TaraGoldResources.com
Investor Relations:
Tony Altavilla
Phone: 317-218-0204
NVT I don't want to sound like I'm pumping NVT, but I'm off for holidays have a few extra minutes and think it would be good for you to keep this on your radar as a possible fast track speculation and to be informed up front in case they get a big find in their current Kaukua Drilling project. Many other short term catylists as well, Pinetree is behind it and the market cap is only 14 million. The company currently has 2 Gold and silver projects and 3 PGE Nickel Copper projects and an experienced management team.
"CEO Mohan is an acomplished geologist for over 30 years with many years public company experience. Recent appointment of Mr. Victor H. Bradley to the Company’s Board of Directors looks to be a timely good addition. Mr. Bradley is the Chairman and founder of Yamana Gold Inc. He is also the Chairman and founder of Aura Minerals Inc. and founder of Nevoro Inc. Mr. Bradley is a Chartered Accountant, and has a very successful career in numerous large financings as well as taking junior public companies to a senior level. He was employed with Cominco in various financial capacities and was the Chief Financial Officer of MacIntyre"
CEO Mohan recently recieved 600,000 options to purchase 600,000 shares at an exercise price of $0.30 No other cheap warrents arE hanging.
Insider buying: Lots of it recently.
Previous drill program history as follows, Geological Survey of Finland (“GTK”) carried out detailed field work Kaukua consisting of
geological mapping, geophysical surveys and limited shallow diamond core drilling (6 core holes) in 1999 and
2004 showed signifigant mineralization. They found the mineralization at Kaukua to have very similar modes of occurrence to the North American Palladium’s Portimo platinum deposit located approximately 75 kilometres to the west. Outokumpu and Goldfields have delineated 74.1 million tones grading 1.39 grams PGE + gold (approx. 3.3 million ounces).
GTK recognized two types of PGM mineralization at Kaukua; Reefal-type similar to the Bushveld Complex -
Merensky Reef, South Africa and the Stillwater Complex, Montana, and the Marginal Series type at the contact of the ultramafic sequence with the Archean basement.
Current drilling. In mid Nonember they PR'd the completion of Recent shallow drilling and promising results are in for the first 4 of the 7 holes. They returned high Palladium, Platinum and Gold values over significant lengths and widths,
Results from hole 5,6 and 7 are pending as well as analyses of Nickel, copper, Rhodium, Osmium, Iridium and Rubidium for all the holes.
A second phase of core drilling consisting of off-set and deeper down-dip holes is being planned at the
present time.
XNN 2.07 X 2.09 Had been confidently moving towards 2.00 the last 10 days now breaking out going into the CC on Dec 11th.
cliffvb AEY Comcast. From a consumer level in the Detroit area, Comcast has been brutally beaten by WOW cable, offering the cable TV, Cable internet and the phone for $33 each. Comcast until recently didn't offer the phone service and the other 2 items cost as much as the triple package from WOW. In essence you got the phone free with WOW. I switched myself.
NVT.v Up nearly 100% today so far Wahoo.
NVT News out! 3 for 3 with 4 more holes on the way. Is there anyone that can look at these results and comment one way or the other on the Palladium, Platinum and Gold. Nickel and copper results are not in yet
Nortec Ventures (NVT) Announces Diamond Core Drilling Returned Significant Palladium, Platinum and Gold Values, Kaukua Property, Northeastern Finland
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 26, 2007) - Further to the press release dated November 14, 2007, Nortec Ventures Corp. (TSX-V:NVT), ("Nortec" or the "Company"), is pleased to announce that geochemical analyses of the first three (3) diamond drill holes (Kau07-01, Kau07-02, Kau07-03) returned significant Platinum, Palladium, Gold, values over significant lengths on the Company's optioned Kaukua property located in Northeastern Finland. Nortec is earning a 70% interest with an option to increase to 80% in the Kaukua property.
The claims area is called the Kaukua Block, of the Koillismaa - Naranka layered ultramafic complex. Geological Survey of Finland ("GTK") carried out detailed field work consisting of geological mapping, geophysical surveys and limited shallow diamond core drilling (6 core holes) in 1999 and 2004.
A total of 1024.70 metres of core drilling consisting of 7 holes (Kau07-01 to Kau07-07) were drilled at 100 metre spacing up-dip from previous core holes R387, R404 and R405 drilled by GTK. Results for R404, R405 and R387 are shown below. This drill program was designed to test the extent of the higher grade mineralization intersected in drill hole R405 over a distance of 600 metres. The holes Kau07-01 to Kau07-06 were drilled over a horizontal distance of 750 metres and Kau07-07 was drilled 100 metres south from Kau07-01 to test down-dip potential. Results from this phase of diamond drilling will help in understanding the rake, if any, of the mineralization as well as the grade continuity and potential tonnage for near surface mineralization. All the drill holes were between 110 metres and 170 metres in length and were terminated several tens of metres below the basal contact of the layered ultramafic series. Nickel and copper analyses from drill holes Kau07-01, Kau07-02 and Kau07-03 and analyses from drill holes Kau07-04, Kau07-05, Kau07-06 and Kau07-07 have not been received to date. Please refer to the Company's press release dated November 14, 2007 for results from the GTK drilling.
Significant averages from some of the previous GTK drilling:
---------------------------------------------------------------------
Intersection Copper + PGE + Gold
Hole From in metres Nickel% grams/tonne
---------------------------------------------------------------------
R387 66.51 17 0.28 1.00
---------------------------------------------------------------------
R404 58.00 16 0.35 1.39
---------------------------------------------------------------------
R404 60.40 39 0.30 1.24
---------------------------------------------------------------------
R405 124.53 14 0.29 1.35
---------------------------------------------------------------------
1000 ppb = 1 gram/tonne = 0.0291 oz/short ton
The attached figure with the current and GTK drill holes shows the area
tested by drilling.
Results from the first three holes, Kau07-01, Kau07-02, and Kau07-03 are as
follows:
Kau07-01
----------------------------------------------------------------------------
Width Gold Palladium Platinum PGE + Nickel Copper
From To metres ppb ppb ppb Au ppb % %
----------------------------------------------------------------------------
55.00 78.00 23 135 888 314 1337
----------------------------------------------------------------------------
Including
57.00 75.00 18 157 981 337 1475
----------------------------------------------------------------------------
Including
57.00 63.00 6 300 1297 467 2064
----------------------------------------------------------------------------
Including
70.00 75.00 5 124 1345 445 1914
----------------------------------------------------------------------------
Detailed analyses of drill hole Kau07-01 are shown in the following table:
--------------------------------------------------------------------
Width Gold Palladium Platinum Nickel Copper
From To metres ppb ppb ppb % %
--------------------------------------------------------------------
54.00 55.00 1.00 12 267 117
55.00 56.00 1.00 78 508 284
56.00 57.00 1.00 65 395 215
57.00 58.00 1.00 28 1160 367
58.00 59.00 1.00 1360 1360 624
59.00 60.00 1.00 99 1540 604
60.00 61.00 1.00 146 1330 421
61.00 62.00 1.00 95 1360 460
62.00 63.00 1.00 74 1030 328
63.00 64.00 1.00 156 798 252
64.00 65.00 1.00 45 427 145
65.00 66.00 1.00 37 252 88
66.00 67.00 1.00 45 413 139
67.00 68.00 1.00 58 606 198
68.00 69.00 1.00 33 262 86
69.00 70.00 1.00 20 394 134
70.00 71.00 1.00 72 1470 476
71.00 72.00 1.00 100 1360 438
72.00 73.00 1.00 164 1400 486
73.00 74.00 1.00 123 1530 506
74.00 75.00 1.00 162 963 319
75.00 76.00 1.00 12 163 60
76.00 77.00 1.00 16 261 82
77.00 78.00 1.00 95 1170 388
78.00 79.00 1.00 37 324 122
88.00 89.00 1.00 143 805 272
89.00 90.00 1.00 83 712 247
--------------------------------------------------------------------
Kau07-02
Two mineralized intervals were intersected in Kau07-02 shown below.
----------------------------------------------------------------------------
Width Gold Palladium Platinum PGE + Nickel Copper
From To metres ppb ppb ppb Au ppb % %
----------------------------------------------------------------------------
38.25 70.00 31.75 115 836 283 1234
----------------------------------------------------------------------------
Including
38.25 61.50 23.25 135 990 333 1458
----------------------------------------------------------------------------
Including
38.25 47.35 9.10 195 1260 442 1897
----------------------------------------------------------------------------
Including
51.35 61.50 10.15 109 1008 318 1436
----------------------------------------------------------------------------
Including
51.35 70.00 18.65 88 738 239 1065
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Width Gold Palladium Platinum PGE + Nickel Copper
From To metres ppb Ppb ppb Au ppb % %
----------------------------------------------------------------------------
80.00 103.00 23.00 72 603 216 891
----------------------------------------------------------------------------
Detailed analyses of Kau07-02 are:
--------------------------------------------------------------------
Width Gold Palladium Platinum Nickel Copper
From To metres ppb ppb ppb % %
--------------------------------------------------------------------
38.25 39.00 0.75 14 1080 371
39.00 40.00 1.00 62 1350 476
40.00 41.00 1.00 242 1820 608
41.00 42.00 1.00 85 557 200
42.00 42.65 0.65 123 905 335
42.65 43.35 0.70 150 496 217
43.35 44.35 1.00 145 1160 411
44.35 45.35 1.00 136 1330 492
45.35 46.35 1.00 764 1220 408
46.35 47.35 1.00 147 2280 783
47.35 48.35 1.00 50 204 73
48.35 49.35 1.00 181 517 194
49.35 50.35 1.00 12 316 118
50.35 51.35 1.00 10 278 99
51.35 52.35 1.00 81 1160 398
52.35 53.30 0.95 65 1080 350
53.30 53.54 0.24 1610 399 110
53.54 54.50 0.96 20 812 237
54.50 55.50 1.00 215 1570 509
55.50 56.50 1.00 125 1320 458
56.50 57.50 1.00 40 641 207
57.50 58.50 1.00 42 1100 328
58.50 59.50 1.00 28 818 260
59.50 60.50 1.00 42 552 184
60.50 61.50 1.00 71 1170 301
61.50 62.50 1.00 159 578 211
62.50 63.50 1.00 44 179 75
63.50 64.50 1.00 18 218 63
64.50 65.50 1.00 17 389 153
65.50 66.50 1.00 31 197 72
66.50 67.50 1.00 23 432 138
67.50 68.71 1.21 55 610 209
68.71 69.03 0.32 442 481 146
69.03 70.00 0.97 27 660 227
--------------------------------------------------------------------
--------------------------------------------------------------------
80.00 81.00 1.00 74 930 318
81.00 82.00 1.00 92 666 222
82.00 83.00 1.00 31 608 240
83.00 84.00 1.00 12 105 46
84.00 85.00 1.00 73 873 282
85.00 86.00 1.00 86 743 250
86.00 87.00 1.00 90 481 161
87.00 88.00 1.00 60 480 158
88.00 89.00 1.00 101 923 333
89.00 90.00 1.00 87 576 204
90.00 91.00 1.00 87 660 246
91.00 92.00 1.00 74 738 273
92.00 93.00 1.00 89 786 300
93.00 94.00 1.00 99 1180 416
94.00 95.00 1.00 17 198 80
95.00 96.00 1.00 229 98 53
96.00 97.00 1.00 79 515 203
97.00 98.00 1.00 51 442 159
98.00 99.00 1.00 37 429 177
99.00 100.00 1.00 56 439 154
100.00 101.00 1.00 90 1080 368
101.00 102.00 1.00 22 296 95
102.00 103.00 1.00 21 618 225
119.12 119.20 0.08 252 12200 5260
--------------------------------------------------------------------
Kau07-03
----------------------------------------------------------------------------
Width Gold Palladium Platinum PGE + Nickel Copper
From To metres ppb ppb ppb Au ppb % %
----------------------------------------------------------------------------
72.00 102.00 30 760 255 255 1271
----------------------------------------------------------------------------
Including
73.35 93.00 19.65 98 973 320 1391
----------------------------------------------------------------------------
Including
73.35 88.00 14.65 105 1066 346 1517
----------------------------------------------------------------------------
Including
81.10 88.00 6.9 115 1330 426 1871
----------------------------------------------------------------------------
Detailed analyses of Kau07-03 are shown below:
--------------------------------------------------------------------
From To Width Gold Palladium Platinum Nickel Copper
metres ppb ppb ppb % %
--------------------------------------------------------------------
72.00 73.35 1.35 10 456 153
73.35 74.70 1.35 30 1490 451
74.70 75.70 1.00 67 736 217
75.70 76.70 1.00 115 1140 403
76.70 77.70 1.00 118 1170 417
77.70 78.70 1.00 37 256 87
78.70 79.90 1.20 92 614 227
79.90 81.10 1.20 220 318 102
81.10 82.00 0.90 29 1020 317
82.00 83.00 1.00 79 698 253
83.00 84.00 1.00 140 1870 650
84.00 85.00 1.00 217 2430 762
85.00 86.00 1.00 125 918 295
86.00 87.00 1.00 122 924 280
87.00 88.00 1.00 83 1420 415
88.00 89.00 1.00 108 304 113
89.00 90.00 1.00 62 366 185
90.00 91.00 1.00 114 757 243
91.00 92.00 1.00 56 1310 416
92.00 93.00 1.00 51 765 253
93.00 94.00 1.00 21 459 167
94.00 95.00 1.00 43 479 191
95.00 96.00 1.00 58 49 24
96.00 97.00 1.00 61 146 61
97.00 98.00 1.00 15 236 118
98.00 99.00 1.00 40 444 158
99.00 100.00 1.00 42 516 175
100.00 101.00 1.00 31 80 36
101.00 102.00 1.00 60 668 244
--------------------------------------------------------------------
The analyses were performed by Labtium Oy, a Finnish Government company
based in Espoo and Rovaniemi, Finland. The laboratory methods used for the
analyses are as follows.
10 Drying of sample at 70 degreesC
31 Fine crushing greater than 70% less than 2 mm with Cr-steel jaws
35 Separate splitting of sample
50 Pulverizing in hardened steel bowl (max. 4 kg)
510 Aqua regia leach at 90 degreesC
704 Lead fire assay pre-concentration, 25g sub-sample
720 Sodium peroxide fusion, 0.2g sub-sample
+ 510P Multi-element analysis by ICP-AES
+ 704P Determination of Au, Pd, Pt with ICP-AES-technique
720P Multi-element analysis with ICP-AES-technique
PGE mineralization at Kaukua is intimately associated with significant nickel and copper values and is predominantly hosted in pyroxenite and gabbronorite phases of the Kaukua block of the Koillismaa intrusive complex. It is very interesting to note that a narrow sulphide stringer (8 cm wide) was intersected in the pyroxenite near the bottom contact and returned 12200 ppb (12 gms/tonne) Palladium and 5260 ppb (5.2 gms/tonne) Platinum.
The mineralized zone was intersected at approximate true widths and at very shallow depths, and the zone dips gently to the south. This suggests that the zone is amenable for exploitation by open-pit methods. The mineralization appears to have very similar modes of occurrence to the North American Palladium's Portimo platinum deposit located approximately 75 kilometres to the west. Outkumpu and Goldfields have delineated 74.1 million tones grading 1.39 grams PGE + gold (approx. 3.3 million ounces). GTK recognized two types of PGE mineralization at Kaukua; Reefal-type similar to the Bushveld Complex - Merensky Reef, South Africa and the Stillwater Complex, Montana, and the Marginal Series type at the contact of the ultramafic sequence with the Archean basement. Reefal-type mineralization occurs higher up in the ultramafic sequence. This has not been evaluated and tested by Nortec's drilling to-date.
A second phase of core drilling consisting of off-set and deeper down-dip holes is being planned at the present time.
Mohan R. Vulimiri, M.Sc, P.Geo., President, CEO and Director of Nortec, and Mr. Jan Akkerman, Managing Director of AEbv, are the persons responsible for initiating and guiding the work programs on the Kaukua Project. Mohan Vulimiri is the Qualified Person responsible for the contents of this press release.
About Nortec
Nortec is a mineral exploration and development company based in Vancouver, British Columbia. Nortec is earning a 60% interest, with an option to earn 70% interest, in the Koillismaa - Naranka project. The Company holds an option to earn a 51% interest in the Ganarin Gold-Silver Project, and a 70% interest in the Condorcocha Gold-Silver Project, both located in Southern Ecuador. Nortec is also earning a 51% interest with an option to earn 90% interest in the TL nickel property in Northern Labrador. The Company is continuing to evaluate other potential acquisitions.
On behalf of the Board of Directors,
NORTEC VENTURES CORP.
Mohan R. Vulimiri, President & CEO
The statements made in this Press Release may contain certain forward-looking statements. Actual events or results may differ from the Company's expectations. Certain risk factors may also affect the actual results achieved by the Company.
There can be no assurance that forward-looking information will prove to be accurate. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from any conclusions, forecasts or projections described in the forward-looking information. Accordingly, readers are advised not to place undue reliance on forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information, whether as a result of new information, future events or otherwise.
Click here for a Figure showing drill hole locations and surface geology of the Kaukua layered ultramafic complex:
http://www.ccnmatthews.com/docs/1126NVT_map.pdf
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
CONTACT INFORMATION:
Nortec Ventures Corp.
Mohan R. Vulimiri
President & CEO
(604) 717-6426
Fax: (604) 717-6427
or
Nortec Ventures Corp.
Suite 875, 555 Burrard Street
Box 205, Bentall Two Centre
Vancouver, BC, Canada V7X 1M8
Email: info@nortecventures.com
Website: www.nortecventures.com
NVT.v Halted, has been my speculative micro cap explorer. I’ve mentioned it here only once as it is speculative and I’ve been waiting for results. I bought for the Finland exploration possibilities near the Kaukua Platinum – Palladium - Gold Property, Northeastern Finland with other projects in Labrador and Ecuador. One adjacent property has a 14 million ounce Platinum-Palladium deposit.
CEO Mohan is said to be top notch, very experienced and straightforward with a panel of very experienced directors/geologists. Pinetree has a 22% stake. 60 k OS and 70k fully diluted. 6 million in options including recent at .30 are all higher than todays price. Link back for recent insider buying.
The best part is that I contacted IR today and was told that they are halted pending drill results, and early indications are that there is a low grade, high tonnage Platinum Palladium deposit with a Nickel Copper credit that could very well be mined as an open pit. News tomorrow or latest Wed.
He said to DD SGL Scandinavian minerals and PDL North American Palladium.
Thankfully I added last week below .20
cliffvb BRLC, I bought this AM. Lack of recent guidance from company and possible booking error were the reasons for the dive.
Their Olivia TV's are getting great results and the company recently said they are having trouble keeping up with the demand. I saw the recent insider buys from the CEO and CFO totaling $350,000 of and remember last year when the CEO bought the PPS went up over %100 in very6 short time.
I figure if the company can get out of its own way and back to hyper growth, those shares should move up. On the other hand, looking back, their reputation of untruthfulnesses, has left a lingering sour taste in my mind.
calgarylady NVT.v shares halted after several inside buys and this news..... November 14, 2007
Nortec (NVT) Announces the Completion of Diamond Core Drilling on the Kaukua Platinum-Palladium-Gold Property, Northeastern Finland; Appointment of New Director.
Whats your prognosis here??? I was fortunate (I think :) to make a nice addition under .20 US just before the halt.
AUN Aurcana Reports First Ever Sales and Gross Profit
VANCOUVER, BRITISH COLUMBIA, Nov 26, 2007 (Marketwire via COMTEX News Network) --
Aurcana Corporation ("Aurcana" or the "Company") (TSX VENTURE:AUN) is pleased to report its financial results for the three and nine month periods ended September 30, 2007. The summary of the selected financial information should be read in conjunction with the unaudited financial statements for the nine months ended September 30, 2007 and the related management's discussion and analysis dated November 22, 2007 together referred to as the "Financial Statements", which have been filed on www.sedar.com and the Company's website www.aurcana.com. All figures are in Canadian dollars unless otherwise noted.
Highlights of the 3rd Quarter September 30, 2007 results are:
- 74,000 tonnes of ore processed
- 3,800 tonnes of concentrate sold
- Revenues of $3,936,000
- Operating cash flow of $754,142 and gross operating profit was $1,194,320
- C$14.8 million in cash held on deposit with major bank (no exposure to Asset Backed Commercial Paper) working capital of C$14.3 million
- Working capital of C$14.3 million
Overall Performance:
La Negra
During the third quarter the operation performed as expected. Efforts during the first six months of 2007 were concentrated on ensuring the mill was reconditioned to obtain a capacity of 1,000 tonnes per day, an increase of 25% of the previous operating capacity and this capacity was achieved in the third quarter.
Morale at the mine continues to be high and recent monthly production levels at the mine are on target with expectations of an average of 1,000 tonnes per day and monthly sales on target with expectations for a restarted mine. It is expected that with the recent acquisition of new underground equipment the mine will sustain production to meet mill throughput.
The Company also recently commenced a 15,000 metre underground diamond drill exploration program to define additional resources.
Rosario
On February 22, 2007, the Company received Exchange approval to enter into an Option Agreement to acquire, through its subsidiary, Aurcana de Mexico, an 100% interest in a silver-zinc-lead-gold Property, Rosario (Rosario) located in Sinaloa State, Mexico for US$3,000,000.
Following its technical and legal review of the Rosario Property, the Company on August 7, 2007 exercised the Option to Purchase and executed a Sale and Purchase Agreement to acquire a 100% undivided interest in Rosario, under the following terms:
February 22, 2007 US$250,000 upon signing the option agreement (paid)
August 7, 2007 US$250,000 upon signing the purchase agreement (paid)
February 7, 2008 US$1,250,000
February 7, 2009 US$1,250,000
Development at the Rosario site has been proceeding well and the Company expects to begin production from the mine before the end of fiscal 2008. To assist in meeting its goal of production start up in the last quarter of 2008, Aurcana has acquired a critical piece of mill equipment. Currently, lead times in the mining industry for both mill equipment and mining equipment are becoming increasingly longer but Aurcana has been successful in securing a SAG ("Semi-Autogenous Grinding") mill that will be instrumental in the refurbishment of the Rosario mill and ensure that timelines are maintained. The SAG mill is capable of processing up to 1200 tonnes per day.
Results of Operations:
Production
Production, at La Negra, for the three and nine months ended September 30, 2007 was 74,000 metric tonnes of ore producing 3,800 tonnes of concentrate (2006 - Nil). The target production levels are 1,000 tonnes of ore production per day on a 75 day quarter for a total expected production of 75,000 metric tonnes.
Sales
The mine generated its first sales of $4,951,000 during the three months ended September 30, 2007 of which the Company's 80% share was $3,936,000 (2006 - Nil).
Operating Margin
The Company's gross margin for the three months ended September 30, 2007 was $1,194,000 or 30% (2006 - Nil), and reflects the efforts the Company has made to bring production to market quickly. The cost of sales for the three months ended September 30, 2007, were $2,742,000. Lower cost of sales in the future, are expected. Operating costs during this period marked the Company's first commercial production which the Company expects to be lower in the following subsequent quarters. Recent equipment acquisitions, along with scheduled maintenance and final refurbishments of existing facilities continue to result in improved efficiency.
Income
Net loss for the three months ended September 30, 2007 of $144,000 ($0.00 per share basic and diluted) compares with a loss of $1,482,000 ($0.01 per share basic and diluted) for the same period in 2006.
Net loss for the nine months ended September 30, 2007 of $3,374,000 ($0.04 per share basic and diluted) compares with a loss of $1,692,000 ($0.03 per share basic and diluted) from the same period in 2006.
Cash Flows
Cash flow from operating activities (before changes in non-cash working capital) for the three months ended September 30, 2007 was $754,000 compared to the cash flow of $181,000 for the same period in 2006.
For the nine months ended September 30, 2007, the Company generated a positive cash flow from operations (before changes in non-cash working capital) of $390,000 compared to negative cash flow of $143,000 for the same period in 2006.
The most notable changes for the three months ended September 30, 2007 were a $1,008,000 increase in trade accounts receivable, a $1,537,000 increase in other accounts receivable, a $296,000 increase in inventory, and a $1,550,000 increase in accounts payable providing a net cash inflow of $1,213,000 from changes in non-cash working capital items.
For the nine-month period, the Company completed a $21,000,000 financing and received, net of expensed, $20,020,000 from the issuance of shares, and repaid $1,130,000 of long-term debt.
After taking into account $4,503,000 incurred on mineral property development and capital asset purchases of $785,000, there was a net increase in cash balances of $14,820,000 for the nine months ended September 30, 2007.
At September 30, 2007, cash balances totalled $14,820,000.
Liquidity
The working capital position of the Company is positive. Current assets exceed current liabilities by $14,264,000 compared to a working capital deficiency of $922,000 at December 31, 2006. While management expects positive cash flow from the La Negra operation there will still be considerable outflows in the near term as the Rosario project is developed.
Corporate Highlights:
1. Aurcana has a strong balance sheet, growing revenues from the La Negra Mine and projected revenue starting Quarter 4, 2008 from its second project Rosario;
2. The Company has a diversified asset base and will be producing five different metals from La Negra and Rosario;
3. Aurcana has significant exploration potential at both of La Negra and Rosario;
4. Aurcana has shown it ability to implement and follow through with its plan to become a significant base - precious metal producer;
5. The Company has a network of contacts that can lead to the acquisition of additional projects that are in production or at advanced development or exploration stages all within its corporate mandate.
With a strong balance sheet, 1,000 tonnes per day production established at La Negra, Rosario slated to add additional production of 800 tonnes per day by the end 2008, a very positive outlook for the price of commodities, along with the continued expansion of Aurcana's shareholder base, a very bright, exciting and rewarding future await Aurcana and its shareholders.
Ken Booth, President, stated: "The future for La Negra is very promising as we continue to improve on all aspects of the operating. The ongoing exploration program will provide us with the capacity to potentially expand the mill to 2,000 tonnes per day, and provide further efficiencies."
Aurcana is a Canadian junior mining company listed on the TSX Venture Exchange, symbol: AUN. The Company remains focused on the acquisition, development and operation of silver, zinc and copper mines with good infrastructure and ore reserves/resources that require minimal capital and time to re-start.
ON BEHALF OF THE BOARD OF DIRECTORS OF AURCANA CORPORATION
Ken Booth, President
Caution Regarding Forward-Looking Statements - This news release contains certain forward-looking statements, including statements regarding the business and anticipated financial performance of the Company. These statements are subject to a number of risks and uncertainties. Actual results may differ materially from results contemplated by the forward-looking statements. Factors that could cause actual results to differ materially from those in the forward-looking statements include unsuccessful exploration results, changes in metal prices, changes in the availability of funding for mineral exploration and development, unanticipated changes in key management personnel and general economic conditions. When relying on forward-looking statements to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and should not place undue reliance on such forward-looking statements. Ron Nichols, P.Eng. a Director and Vice President of Exploration for Aurcana, and a Qualified Person as defined by National Instrument 43-101, supervised the preparation of the technical information in this release.
The Company does not undertake to update any forward-looking statements, oral or written, made by itself or on its behalf.
ADA Q3 out. No surprise. 1.6 mil revenue. Guiding for 8 million lbs zinc and 3.5 million lbs lead recovered in Q4 and 42-46 mil lbs zinc and 18-20 mil lbs lead recovered in 2008 expected to transulate to $68 million revenue. 4.6 million in cash and news of drilling results from the gold properties should be out soon.
Management discussion
http://www.acadiangold.ca/Portals/18/ADA%20MDA%20Q307-final.pdf
AUN Nice update on future added production at Rosario. Management is doing a fine job. With a very positive outlook for the price of commodities, a strong balance sheet, 1,000 tonnes per day production currently established at La Negra and Rosario adding an additional initial production of 800 tonnes per day by the end of 2008, the future is very promising for Aurcana and its shareholders.
OT Stock Peeker, Taxes! How will they pay for it? Lucky for them, they can just write some more credit into the system, all without having to raise our taxes, while we stand here wondering why everything keeps going up.
NGG News PNG explorer Coppermoly wants $20m IPO
Papua New Guinea-focused Coppermoly Ltd aims to raise up to $20 million from its initial public offer (IPO). The IPO is for up 80 million shares at 25 cents each, which opens November 12. The company, which holds tenements totalling 95.67 square kilometres in PNG's West New Britain Province, is applying for the quotation of its shares on the Australian stock exchange. It will invest most of the capital in continued exploration drilling of large copper-molybdenum-gold targets. Managing director Peter Swiridiuk said in a statement that the company intended to develop at least one of its targets to pre-feasibility stage within two years. The company said there was significant molybdenum mineralisation on the Simuku property, one of three advanced exploration projects, with the potential for high-grade molybdenum deposits. 'We are assisted by a very large geological and mineral database on the Simuku and Nakru properties, and the fact that both are well located near the town of Kimbe and close to essential infrastructure including roads, an airfield and a deep-water port,' Mr Swiridiuk said. The board includes chairman Bob McNeil and non-executive director Peter McNeil, who are both experienced in mining and exploring in PNG through New Guinea Gold Corporation and Frontier Resources Ltd.
ADA.to On the dip and could be ready for a move. High grade Lead and Zinc mining commenced May 07 and is currently.
operating at 2,000 tonnes per day. Projecting 60 million / yr cash flow in 2008 plus the bonus Scotia Goldfields project containing four advanced gold properties.
Catalysts other than the new cash flow,
An inferred resource estimate compliant with National Instrument 43-101 is expected to be completed on the Getty Deposit before the end of October, 2007.
Results of a first phase scoping study on the open pit potential of Beaver Dam gold property is expected in late November, 2007. A metallurgical test program on Beaver Dam gold mineralized material is expected to be completed by the year end.
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.
Just started a position here after a Cleverox post stirred my interest. I like the good products flying out the door at an ever increasing rate in a market that they have just begun to penetrate. The fact that the next Q in Nov will ink the progress, was the tipper for me.
NVT Officers: Mohan R. Vulimiri, President & CEO
All Canidian buying today as the Pink symbol still lists as .185 on my Ameritrade act.
Now .30 delayed
NVT Exploding 35% today Long awaited Finland drill results may be coming. Did these insiders see this coming?
http://www.canadianinsider.com/coReport/allTransactions.php?ticker=nvt
Oct 23/07 Oct 18/07 Vulimiri, Mohan Ramalingaswamy Direct Ownership Common Shares 10 - Acquisition in the public market 100,000 $0.185
Oct 18/07 Oct 15/07 MARTINO, GIOVANNA Direct Ownership Options 50 - Grant of options 125,000 $0.300
Oct 18/07 Oct 01/07 MARTINO, GIOVANNA Direct Ownership Options 00 - Opening Balance-Initial SEDI Report
Oct 18/07 Oct 15/07 Kniec, Adam Robert Direct Ownership Options 50 - Grant of options 250,000 $0.300
Oct 18/07 Oct 01/07 Kniec, Adam Robert Direct Ownership Options 00 - Opening Balance-Initial SEDI Report
Oct 18/07 Oct 15/07 Walter, Etienne E.V. Direct Ownership Options 50 - Grant of options 425,000 $0.300
Oct 16/07 Oct 15/07 Kniec, Adam Robert Direct Ownership Common Shares 10 - Acquisition in the public market 49,500 $0.210
Oct 16/07 Oct 01/07 Kniec, Adam Robert Direct Ownership Common Shares 00 - Opening Balance-Initial SEDI Report
Aug 14/07 Aug 14/07 Pinetree Capital Ltd. Indirect Ownership Common Shares 36 - Conversion or exchange 4,300,000
Aug 14/07 Aug 14/07 Pinetree Capital Ltd. Indirect Ownership Special Warrants 36 - Conversion or exchange -4,300,000