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Press Release Source: U.S. Energy Corp.
U.S. Energy Corp. and Crested Corp. Announce Sutter Gold's Engagement of IBK Capital to Enhance Shareholder Value
Wednesday September 5, 2:16 pm ET
RIVERTON, Wyo., Sept. 5 /PRNewswire-FirstCall/ -- U.S. Energy Corp. (Nasdaq: USEG - News) and Crested Corp. (OTC Bulletin Board: CBAG - News), natural resource exploration and development Companies, announced that their subsidiary, Sutter Gold Mining Inc. (TSX VENTURE: SGM - News) has retained IBK Capital Corp. of Toronto to evaluate strategic alternatives to maximize shareholder value. These alternatives may include the sale of the Company or the merger of the Company with a strategic partner, or any number of other available options.
ADVERTISEMENT
SGM management and the board of directors will work with its financial advisor, IBK Capital Corp., to ensure that multiple alternatives available to the Company are properly considered and evaluated.
To date, SGM has invested approximately $24 million in its Lincoln Gold Project in California's Mother Lode for acquiring the properties, major exploration core drilling programs, acquisition of all major operating permits, and completion of the basic engineering design for a mill on the property. Behre Dolbear's NI 43-101 compliant pre-feasibility study on the Lincoln Project, which is anticipated to be completed in late September 2007, will incorporate an updated NI 43-101 compliant project resource estimate as a result of the recently completed Phase 1 (underground and surface) exploration drilling to develop the mine plan. A Phase 2 exploration program with a planned 2,300 meter surface drilling program is underway.
Hal Herron, president and CEO of SGM, said, "We're pleased to have engaged IBK and their professional staff to maximize value for our shareholders. IBK's reputation is first class and they have the worldwide network of contacts to help us evaluate the full range of alternatives available to us. Management and the board firmly believe that the Company is undervalued in light of the advanced stage of our gold project in the historic Mother Lode of northern California, our exploration program with Premier Gold Mines Limited in the historic gold district of El Alamo and the very strong gold market. With IBK Capital's expertise in handling mining transactions globally, I firmly believe they will effectively assist us in unlocking the true value of our assets for the substantial benefit of our shareholders."
Mark Larsen, President and COO of U.S. Energy Corp. said, "As the largest single shareholder in Sutter Gold, we are pleased that management has taken this step to improve the visibility of the company in an effort to maximize its value. We feel that Sutter is significantly undervalued in light of the status of its advanced stage gold mine in California and we are confident that this effort will ultimately reflect in a significantly enhanced value of our Sutter holdings."
About the Sutter Gold Mine
The Sutter Gold project contains a 3.2 mile segment of the Mother Lode belt from which 10 historic mines produced 2.3 million ounces of gold. The historic mines bracket a one-mile-long portion of the Mother Lode belt with no historic gold production and which contains the Lincoln and Comet zones. The Lincoln and Comet zones were blind discoveries that did not outcrop at surface and which represent the first significant new gold discoveries made along the Mother Lode belt in the last 50 years. The Sutter Gold project has been the subject of considerable modern exploration activity, most of it centering on the Lincoln and Comet zones, which are adjacent to each other and together referred to as the Lincoln project. A total of 101,385 feet of drilling have been accomplished in 230 diamond drill holes, and modern underground development consists of a 2,850-foot declined ramp with 2,400 feet of crosscuts plus five raises. The historic gold production was documented in a detailed report completed by Mark Payne, the consulting geologist to Sutter Gold and a qualified person as defined by National Instrument 43-101. Further information is available at the Company's Lincoln Project and El Alamo, Mexico gold concession at http://www.suttergoldmining.com.
ABOUT U.S. ENERGY CORP. AND CRESTED CORP.
Disclosure Regarding Mineral Resources
Under SEC and Canadian Regulations;
And Forward-Looking Statements
The Company owns or may come to own stock in companies which are traded on foreign exchanges, and may have agreements with some of these companies to acquire and/or develop the Company's mineral properties. Examples of these other companies are Sutter Gold Mining Inc., and Kobex Resources Ltd. These other companies are subject to the reporting requirements of other jurisdictions.
United States residents are cautioned that some of the information available about our mineral properties, which is reported by the other companies in foreign jurisdictions, may be materially different from what the Company is permitted to disclose in the United States.
This news release includes statements which may constitute "forward-looking" statements, usually containing the words "believe," "estimate," "project," "expect," or similar expressions. These statements are made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, future trends in mineral prices, the availability of capital, competitive factors, and other risks. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revision or changes after the date of this release.
For further information on the differences between the reporting limitations of the United States, compared to reports filed in foreign jurisdictions, and also concerning forward-looking statements, please see the Company's Form 10-K ("Disclosure Regarding Forward-Looking Statements"; "Disclosure Regarding Mineral Resources under SEC and Canadian Regulation"; and "Risk Factors"); and similar disclosures in the Company's Forms 10-Q.
Source: U.S. Energy Corp.
Press Release Source: U.S. Energy Corp.
U.S. Energy Corp. and Crested Corp. Announce Sutter Gold's Engagement of IBK Capital to Enhance Shareholder Value
Wednesday September 5, 2:16 pm ET
RIVERTON, Wyo., Sept. 5 /PRNewswire-FirstCall/ -- U.S. Energy Corp. (Nasdaq: USEG - News) and Crested Corp. (OTC Bulletin Board: CBAG - News), natural resource exploration and development Companies, announced that their subsidiary, Sutter Gold Mining Inc. (TSX VENTURE: SGM - News) has retained IBK Capital Corp. of Toronto to evaluate strategic alternatives to maximize shareholder value. These alternatives may include the sale of the Company or the merger of the Company with a strategic partner, or any number of other available options.
ADVERTISEMENT
SGM management and the board of directors will work with its financial advisor, IBK Capital Corp., to ensure that multiple alternatives available to the Company are properly considered and evaluated.
To date, SGM has invested approximately $24 million in its Lincoln Gold Project in California's Mother Lode for acquiring the properties, major exploration core drilling programs, acquisition of all major operating permits, and completion of the basic engineering design for a mill on the property. Behre Dolbear's NI 43-101 compliant pre-feasibility study on the Lincoln Project, which is anticipated to be completed in late September 2007, will incorporate an updated NI 43-101 compliant project resource estimate as a result of the recently completed Phase 1 (underground and surface) exploration drilling to develop the mine plan. A Phase 2 exploration program with a planned 2,300 meter surface drilling program is underway.
Hal Herron, president and CEO of SGM, said, "We're pleased to have engaged IBK and their professional staff to maximize value for our shareholders. IBK's reputation is first class and they have the worldwide network of contacts to help us evaluate the full range of alternatives available to us. Management and the board firmly believe that the Company is undervalued in light of the advanced stage of our gold project in the historic Mother Lode of northern California, our exploration program with Premier Gold Mines Limited in the historic gold district of El Alamo and the very strong gold market. With IBK Capital's expertise in handling mining transactions globally, I firmly believe they will effectively assist us in unlocking the true value of our assets for the substantial benefit of our shareholders."
Mark Larsen, President and COO of U.S. Energy Corp. said, "As the largest single shareholder in Sutter Gold, we are pleased that management has taken this step to improve the visibility of the company in an effort to maximize its value. We feel that Sutter is significantly undervalued in light of the status of its advanced stage gold mine in California and we are confident that this effort will ultimately reflect in a significantly enhanced value of our Sutter holdings."
About the Sutter Gold Mine
The Sutter Gold project contains a 3.2 mile segment of the Mother Lode belt from which 10 historic mines produced 2.3 million ounces of gold. The historic mines bracket a one-mile-long portion of the Mother Lode belt with no historic gold production and which contains the Lincoln and Comet zones. The Lincoln and Comet zones were blind discoveries that did not outcrop at surface and which represent the first significant new gold discoveries made along the Mother Lode belt in the last 50 years. The Sutter Gold project has been the subject of considerable modern exploration activity, most of it centering on the Lincoln and Comet zones, which are adjacent to each other and together referred to as the Lincoln project. A total of 101,385 feet of drilling have been accomplished in 230 diamond drill holes, and modern underground development consists of a 2,850-foot declined ramp with 2,400 feet of crosscuts plus five raises. The historic gold production was documented in a detailed report completed by Mark Payne, the consulting geologist to Sutter Gold and a qualified person as defined by National Instrument 43-101. Further information is available at the Company's Lincoln Project and El Alamo, Mexico gold concession at http://www.suttergoldmining.com.
ABOUT U.S. ENERGY CORP. AND CRESTED CORP.
Disclosure Regarding Mineral Resources
Under SEC and Canadian Regulations;
And Forward-Looking Statements
The Company owns or may come to own stock in companies which are traded on foreign exchanges, and may have agreements with some of these companies to acquire and/or develop the Company's mineral properties. Examples of these other companies are Sutter Gold Mining Inc., and Kobex Resources Ltd. These other companies are subject to the reporting requirements of other jurisdictions.
United States residents are cautioned that some of the information available about our mineral properties, which is reported by the other companies in foreign jurisdictions, may be materially different from what the Company is permitted to disclose in the United States.
This news release includes statements which may constitute "forward-looking" statements, usually containing the words "believe," "estimate," "project," "expect," or similar expressions. These statements are made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, future trends in mineral prices, the availability of capital, competitive factors, and other risks. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revision or changes after the date of this release.
For further information on the differences between the reporting limitations of the United States, compared to reports filed in foreign jurisdictions, and also concerning forward-looking statements, please see the Company's Form 10-K ("Disclosure Regarding Forward-Looking Statements"; "Disclosure Regarding Mineral Resources under SEC and Canadian Regulation"; and "Risk Factors"); and similar disclosures in the Company's Forms 10-Q.
Source: U.S. Energy Corp.
Press Release Source: U.S. Energy Corp.
U.S. Energy Corp. and Crested Corp. Announce Sutter Gold's Engagement of IBK Capital to Enhance Shareholder Value
Wednesday September 5, 2:16 pm ET
RIVERTON, Wyo., Sept. 5 /PRNewswire-FirstCall/ -- U.S. Energy Corp. (Nasdaq: USEG - News) and Crested Corp. (OTC Bulletin Board: CBAG - News), natural resource exploration and development Companies, announced that their subsidiary, Sutter Gold Mining Inc. (TSX VENTURE: SGM - News) has retained IBK Capital Corp. of Toronto to evaluate strategic alternatives to maximize shareholder value. These alternatives may include the sale of the Company or the merger of the Company with a strategic partner, or any number of other available options.
ADVERTISEMENT
SGM management and the board of directors will work with its financial advisor, IBK Capital Corp., to ensure that multiple alternatives available to the Company are properly considered and evaluated.
To date, SGM has invested approximately $24 million in its Lincoln Gold Project in California's Mother Lode for acquiring the properties, major exploration core drilling programs, acquisition of all major operating permits, and completion of the basic engineering design for a mill on the property. Behre Dolbear's NI 43-101 compliant pre-feasibility study on the Lincoln Project, which is anticipated to be completed in late September 2007, will incorporate an updated NI 43-101 compliant project resource estimate as a result of the recently completed Phase 1 (underground and surface) exploration drilling to develop the mine plan. A Phase 2 exploration program with a planned 2,300 meter surface drilling program is underway.
Hal Herron, president and CEO of SGM, said, "We're pleased to have engaged IBK and their professional staff to maximize value for our shareholders. IBK's reputation is first class and they have the worldwide network of contacts to help us evaluate the full range of alternatives available to us. Management and the board firmly believe that the Company is undervalued in light of the advanced stage of our gold project in the historic Mother Lode of northern California, our exploration program with Premier Gold Mines Limited in the historic gold district of El Alamo and the very strong gold market. With IBK Capital's expertise in handling mining transactions globally, I firmly believe they will effectively assist us in unlocking the true value of our assets for the substantial benefit of our shareholders."
Mark Larsen, President and COO of U.S. Energy Corp. said, "As the largest single shareholder in Sutter Gold, we are pleased that management has taken this step to improve the visibility of the company in an effort to maximize its value. We feel that Sutter is significantly undervalued in light of the status of its advanced stage gold mine in California and we are confident that this effort will ultimately reflect in a significantly enhanced value of our Sutter holdings."
About the Sutter Gold Mine
The Sutter Gold project contains a 3.2 mile segment of the Mother Lode belt from which 10 historic mines produced 2.3 million ounces of gold. The historic mines bracket a one-mile-long portion of the Mother Lode belt with no historic gold production and which contains the Lincoln and Comet zones. The Lincoln and Comet zones were blind discoveries that did not outcrop at surface and which represent the first significant new gold discoveries made along the Mother Lode belt in the last 50 years. The Sutter Gold project has been the subject of considerable modern exploration activity, most of it centering on the Lincoln and Comet zones, which are adjacent to each other and together referred to as the Lincoln project. A total of 101,385 feet of drilling have been accomplished in 230 diamond drill holes, and modern underground development consists of a 2,850-foot declined ramp with 2,400 feet of crosscuts plus five raises. The historic gold production was documented in a detailed report completed by Mark Payne, the consulting geologist to Sutter Gold and a qualified person as defined by National Instrument 43-101. Further information is available at the Company's Lincoln Project and El Alamo, Mexico gold concession at http://www.suttergoldmining.com.
ABOUT U.S. ENERGY CORP. AND CRESTED CORP.
Disclosure Regarding Mineral Resources
Under SEC and Canadian Regulations;
And Forward-Looking Statements
The Company owns or may come to own stock in companies which are traded on foreign exchanges, and may have agreements with some of these companies to acquire and/or develop the Company's mineral properties. Examples of these other companies are Sutter Gold Mining Inc., and Kobex Resources Ltd. These other companies are subject to the reporting requirements of other jurisdictions.
United States residents are cautioned that some of the information available about our mineral properties, which is reported by the other companies in foreign jurisdictions, may be materially different from what the Company is permitted to disclose in the United States.
This news release includes statements which may constitute "forward-looking" statements, usually containing the words "believe," "estimate," "project," "expect," or similar expressions. These statements are made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, future trends in mineral prices, the availability of capital, competitive factors, and other risks. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revision or changes after the date of this release.
For further information on the differences between the reporting limitations of the United States, compared to reports filed in foreign jurisdictions, and also concerning forward-looking statements, please see the Company's Form 10-K ("Disclosure Regarding Forward-Looking Statements"; "Disclosure Regarding Mineral Resources under SEC and Canadian Regulation"; and "Risk Factors"); and similar disclosures in the Company's Forms 10-Q.
Source: U.S. Energy Corp.
Press Release Source: Sutter Gold Mining Inc., Premier Gold Mines Limited
Sutter Gold and Premier Gold Announce Signing Joint Venture Agreement for Exploration Mexico Gold Concession
Monday August 20, 1:03 pm ET
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 20, 2007) - Sutter Gold Mining Inc. (TSX VENTURE:SGM - News) and Premier Gold Mining Limited (TSX:PG - News) jointly announced today the signing of a Joint Venture Agreement (JVA) which formalizes the Letter of Intent (LOI) signed March 29, 2007 between the parties. The JVA formally establishes the venture between the companies to jointly explore Sutter's Santa Teresa mineral concession located in the historic and high grade El Alamo District of Baja California Norte, Mexico. The Sutter concession is located in the heart of the gold district which was the subject of the El Alamo Gold Rush of 1888. It is located some 100 kilometers southeast of Ensenada and about 250 kilometers from San Diego, California.
The finalized venture with Premier provides the funding for immediate exploration of the project and appoints Premier as the operator. The Santa Teresa Concession compliments both Premier and Sutter business plans to explore high-grade gold properties as it:
- Is located within a proven (some 220,000 ounces of past production) gold district;
- District has historic mined grades of between 1.00 and 2.00 ounces per ton (opt);
- District was only mined within a 120 meters of the surface, but remains open at depth; and
- Has geologic characteristics similar to the prolific Mother Lode Gold District of California.
The Santa Teresa Concession (STC) is located adjacent to and on strike from the past-producing Princessa Mine (the district's largest gold producer) whose ore body was known to extend close to the STC boundary. A 12,000 foot diamond drill program has been agreed to by the parties comprising 24 holes. We envision the potential to discover high grade gold zones, which could initially support the construction of a small to medium-sized gold mine. While this is an early stage project, initial exploration has the potential to provide very exciting results.
Premier will earn an initial 50% interest in the project by:
- Making its remaining payment of 75,000 shares of Premier to SGMI.
- Completing US$1.5 million in exploration and property acquisitions within two years, including US$1 million within one year of signing the JV agreement.
- Reimbursing SGMI for all payments (approximately US$225,000) over a four-year period to the original vendor of the property.
In addition, Premier can secure the right to earn an additional 15% interest in the venture (for a total of 65%) by making a further cash payment of $500,000 to SGMI and conducting an additional US$4.0 million in exploration on the property.
Steve McGibbon, COO of Premier states: "The venture is in ongoing discussions with experienced core drilling contractors in Mexico. We anticipate starting the drill program during September 2007. Both parties are extremely anxious to see what lies beneath the shallow water table in the district as, historically, miners chasing the highly enriched veins from the surface quit mining once they hit this water table." Hal Herron, President of Sutter Gold, comments that,"Premier's experience in the Red Lake District of NW Ontario and Sutter's experience in the Mother Lode District of California makes this venture extremely well-suited to exploring the high grade gold potential of the El Alamo District."
About Premier
Premier Gold Mines Limited is a Canadian-based mineral exploration and development company with diverse property holdings that include several projects and deposits in Northwestern Ontario and a joint venture in Mexico. In the Red Lake gold mining camp, two of these are operated in joint venture with Goldcorp Inc. (TSX:G - News). A strategic project is also located on the main Musselwhite Gold Mine trend (Goldcorp-Kinross). Additional information can be found on the Premier website at www.premiergoldmines.com.
About Sutter Gold
The Sutter Gold project contains a 3.2 mile segment of the Mother Lode belt from which 10 historic mines produced 2.3 million ounces of gold. The historic mines bracket a one-mile-long portion of the Mother Lode belt with no historic gold production and which contains the Lincoln and Comet zones. The Lincoln and Comet zones were blind discoveries that did not outcrop at surface and which represent the first significant new gold discoveries made along the Mother Lode belt in the last 50 years. The Sutter Gold project has been the subject of considerable modern exploration activity, most of it centering on the Lincoln and Comet zones, which are adjacent to each other and together referred to as the Lincoln project. A total of 85,085 feet of drilling have been accomplished in 190 diamond drill holes, and modern underground development consists of a 2,850-foot declined ramp with 2,400 feet of crosscuts plus five raises. The historic gold production was documented in a detailed report completed by Mark Payne, the consulting geologist to Sutter Gold and a qualified person as defined by National Instrument 43-101. Further information on US and Mexico operations is available at the Company's website at www.suttergoldmining.com.
Contact:
Hal Herron
Sutter Gold Mining Inc.
CEO
(307) 856-9271
Email: hal@usnrg.com
Website: www.suttergoldmining.com
Stephen McGibbon
Premier Gold Mines Limited
COO
(807) 346-1390
(807) 345-0284 (FAX)
Email: smcgibbon@premiergoldmines.com
Source: Sutter Gold Mining Inc., Premier Gold Mines Limited
His time and energy was spent in another direction.
At least for me, I like to know all I can about my investments. But that's just me. I'm sure others will call as they do their own DD. A little DD might go a long way in this situation...LOL! And I always enjoy my investments...win or lose. It's only pinky money and the verdict is still out here.
Well, hopefully others will at least pick up the phone and find out the truth.
I'm sorry to say but you are dead wrong! I would suggest you check on the facts of what is going on before you accuse others of gaining insider info. I've been straight with you since the start but lately you're beginning to annoy me. I've already told you to call Peter and check into something that may or may not interest you. Anyone can do this. But it's starting to look like you don't care about the truth. That's all I have to say on the matter.
Latest 5 day forecast on Dean:
WTNT44 KNHC 160252
TCDAT4
TROPICAL STORM DEAN DISCUSSION NUMBER 11
NWS TPC/NATIONAL HURRICANE CENTER MIAMI FL AL042007
1100 PM EDT WED AUG 15 2007
DEAN HAS CONTINUED TO GRADUALLY BECOME BETTER ORGANIZED THIS
EVENING...WITH A 2311 UTC TRMM PASS SUGGESTING THAT A SMALL BANDING EYE FEATURE MAY BE FORMING. THE 00Z DVORAK SATELLITE INTENSITY ESTIMATES WERE 55 KT...HOWEVER...THE SATELLITE APPEARANCE HAS IMPROVED SINCE THEN AND THE ADVISORY INTENSITY HAS BEEN INCREASED TO 60 KT.
THE INITIAL MOTION ESTIMATE IS 280/20. DEAN IS FORECAST TO CONTINUE MOVING WEST TO WEST-NORTHWESTWARD SOUTH OF A DEEP-LAYER RIDGE LOCATED OVER THE CENTRAL ATLANTIC. THE TRACK GUIDANCE IS TIGHTLY CLUSTERED ON THIS MOTION DURING THE NEXT 72 HOURS. AT DAYS 4 AND 5...THE TRACK GUIDANCE HAS A BIT MORE SPREAD...BUT STILL IS IN GOOD AGREEMENT ON A CONTINUED WEST-NORTHWEST MOTION INTO THE NORTHWESTERN CARIBBEAN SEA. THE GLOBAL MODELS SHOW VERY LITTLE INTERACTION BETWEEN DEAN AND A MIDDLE-LEVEL TROUGH CURRENTLY OVER THE BAHAMAS...AS THEY CONTINUE TO MOVE THE TROUGH WESTWARD AHEAD OF DEAN. THE NOGAPS IS A LITTLE SLOWER TO MOVE THE TROUGH WEST AND ITS TRACK IS THEREFORE A LITTLE FARTHER NORTH THAN THE REST OF THE GUIDANCE. THE NEW OFFICIAL TRACK FORECAST IS NEAR THE MIDDLE OF THE GUIDANCE ENVELOPE AND CLOSE TO THE GUNA MODEL CONSENSUS.
THERE ARE SEEMINGLY FEW FACTORS THAT WOULD INHIBIT STRENGTHENING
DURING THE FORECAST PERIOD. AS MENTIONED IN THE PREVIOUS
DISCUSSION...THE MODELS UNANIMOUSLY DEVELOP A LARGE UPPER-LEVEL
ANTICYCLONE OVER DEAN AS IT MOVES INTO THE CARIBBEAN SEA.
MYSTERIOUSLY...THE GFDL AND HWRF MODELS HAVE BACKED OFF ON THEIR
RESPECTIVE INTENSITY FORECASTS. HOWEVER...THE SHIPS AND LGEM
MODELS CONTINUE TO INDICATE STEADY STRENGTHENING AND THE OFFICIAL
INTENSITY FORECAST IS UNCHANGED FROM THE PREVIOUS ADVISORY.
AN AIR FORCE RESERVE HURRICANE HUNTER AIRCRAFT WILL BE
INVESTIGATING DEAN TOMORROW AFTERNOON...AND THE NOAA GULFSTREAM-IV WILL CONDUCT A SYNOPTIC SURVEILLANCE MISSION FOR THE 17/00Z ANALYSIS CYCLE.
FORECAST POSITIONS AND MAX WINDS
INITIAL 16/0300Z 13.1N 50.2W 60 KT
12HR VT 16/1200Z 13.6N 53.2W 65 KT
24HR VT 17/0000Z 14.2N 57.2W 70 KT
36HR VT 17/1200Z 14.8N 61.1W 75 KT
48HR VT 18/0000Z 15.3N 64.7W 85 KT
72HR VT 19/0000Z 16.3N 71.5W 95 KT
96HR VT 20/0000Z 17.8N 78.5W 105 KT
120HR VT 21/0000Z 19.5N 85.5W 115 KT
$$
FORECASTER BROWN
Peter's working very hard to get us to the next level. I'm very interested by his latest work to get us there. I would suggest calling him and checking into our plan of action. The number was on the last PR. GLTA!
Nice job Brikk! Now we're up over 300% since early March.
And now we have this...
WTNT34 KNHC 152032
TCPAT4
BULLETIN
TROPICAL STORM DEAN ADVISORY NUMBER 10
NWS TPC/NATIONAL HURRICANE CENTER MIAMI FL AL042007
500 PM AST WED AUG 15 2007
...DEAN INTENSIFYING OVER THE CENTRAL TROPICAL ATLANTIC...
A HURRICANE WATCH MAY BE REQUIRED FOR PORTIONS OF THE LESSER
ANTILLES LATER TONIGHT OR EARLY THURSDAY. INTERESTS IN THE LESSER ANTILLES SHOULD MONITOR THE PROGRESS OF DEAN.
FOR STORM INFORMATION SPECIFIC TO YOUR AREA...PLEASE MONITOR
PRODUCTS ISSUED BY YOUR LOCAL WEATHER OFFICE.
AT 500 PM AST...2100Z...THE CENTER OF TROPICAL STORM DEAN WAS
LOCATED NEAR LATITUDE 13.1 NORTH...LONGITUDE 47.9 WEST OR ABOUT 910 MILES...1465 KM...EAST OF THE LESSER ANTILLES.
DEAN IS MOVING TOWARD THE WEST-NORTHWEST NEAR 22 MPH...35 KM/HR...AND A MOTION BETWEEN WEST AND WEST-NORTHWEST IS EXPECTED DURING THE NEXT 24 HOURS.
MAXIMUM SUSTAINED WINDS HAVE INCREASED TO NEAR 65 MPH...100
KM/HR...WITH HIGHER GUSTS. FURTHER STRENGTHENING IS FORECAST
DURING THE NEXT 24 HOURS AND DEAN COULD BECOME A HURRICANE LATER TONIGHT OR EARLY THURSDAY.
TROPICAL STORM FORCE WINDS EXTEND OUTWARD UP TO 70 MILES...110 KM FROM THE CENTER.
THE ESTIMATED MINIMUM CENTRAL PRESSURE IS 994 MB...29.35 INCHES.
REPEATING THE 500 PM AST POSITION...13.1 N...47.9 W. MOVEMENT
TOWARD...WEST-NORTHWEST NEAR 22 MPH. MAXIMUM SUSTAINED WINDS...65 MPH. MINIMUM CENTRAL PRESSURE...994 MB.
THE NEXT ADVISORY WILL BE ISSUED BY THE NATIONAL HURRICANE CENTER AT 1100 PM AST.
$$
FORECASTER BLAKE
It's time to get back on topic. Posts about other posters or moderators are off-topic and a TOU violation. Please do your own DD and report what you find to the board if you'd like. Don't rely on other posters to do your own DD.
The company is far from a shell and I like his plan of attack. There's some solid work being done here. GL down the road.
Some people just don't have a clue what is going on with RXPC. Maybe they should call the CEO and inquire. It's called DD.
It's horrible only making 250% on this since winter. Just think if there was interest...lol!
I believe those are unfair shots. Peter has worked very hard to get this company moving forward. I'm really sick and tired of all the attacks. There are hundreds of other CEOs who have run the printing presses to pad their own pocket. Peter hasn't done that. What he's doing though has been quite challenging and some of his employees have failed, setting the company back. And yes, Peter has made his fair share of mistakes along the way, but he's also grown into a CEO who I believe is ready to move us forward. If he can raise the necessary funds, I think he'll do it and those who are shareholders will all be happy. It's not worth getting all worked up over. Back to enjoying my summer...
I think you've beaten this dead horse just one to many times. The O/S hasn't changed it eons and I highly doubt it's going to change now. Maybe you should give him and another call Creede and find out what is really happening. imo maybe these next steps he is about to take will get us over the hump and moving forward again. He may just make it this time.
I just verified no change in O/S as of 7/30th (COB 7/29). No change as usual. More vested shares but absolutely no change to the O/S.
Thankfully it's not a stock market. It's a market of stocks. Investors will always flock to quality in an uncertain market.
That's exactly what I mean. At least know the history of our SS and that you can verify the SS at any time. That's fine. I can't wait to buy up the float for a couple grand...lol!
You have to love it when non-investors just keep hanging around and posting. What a joke. The RXPC storefront is worth more than we're trading at imo but that's fine is someone wants to sell me the company for 6.7k...lol!
sweet! then at .0001 I can buy up the float for 2.7k or the whole company for 6.3k. Nice...
Form 8-K for US ENERGY CORP
30-Jul-2007
Other Events
Item 8.01. Other Events
On July 27, 2007, U.S. Energy Corp. and Crested Corp. issued a press release concerning final sale of the shares of sxr Uranium One which the companies had received in April 2007 as partial consideration for the sale of their uranium assets to Uranium One. That press release, a copy of which is attached as exhibit 99.1, is incorporated by reference into this Form 8-K report.
As of March 31, 2007, Crested owed USE $12,963,900. As of June 30, 2007, Crested had paid this obligation.
.
Section 9: Financial Statements and Exhibits
Form 8-K for US ENERGY CORP
30-Jul-2007
Other Events
Item 8.01. Other Events
On July 27, 2007, U.S. Energy Corp. and Crested Corp. issued a press release concerning final sale of the shares of sxr Uranium One which the companies had received in April 2007 as partial consideration for the sale of their uranium assets to Uranium One. That press release, a copy of which is attached as exhibit 99.1, is incorporated by reference into this Form 8-K report.
As of March 31, 2007, Crested owed USE $12,963,900. As of June 30, 2007, Crested had paid this obligation.
.
Section 9: Financial Statements and Exhibits
Press Release Source: Sutter Gold Mining Inc.
Sutter Gold Hires Investor Relations Firm
Wednesday July 25, 2:59 pm ET
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - July 25, 2007) - Sutter Gold Mining Inc. (TSX VENTURE:SGM - News) today announced that it has contracted the services of National Media Associates ("NMA") of California, USA, to implement a shareholder and investor relations program for the Company.
"We are very pleased to welcome National Media Associates to the Sutter Gold family of strategic partners and expect NMA to play an important role in assuring that the investment community is fully aware of corporate developments and management's efforts to enhance shareholder value through the exploitation of our gold properties in the Mother Lode District of California," noted Hal Herron, Chief Executive Officer of Sutter Gold Mining Inc. "With the price of gold continuing to increase, and the Company's recently announced drilling success, it is time to expand our shareholder base."
NMA, which was retained by the Company effective July 2, 2007, provides management consulting and investor relations services targeted at both existing shareholders and potential new investors. NMA will be paid US$7,000 per month and be granted an option to purchase up to 500,000 common shares at an exercise price of $0.28 per share for a period of two years. The option will vest in stages over a 12-month period, with no more than one quarter of the options vesting in any three-month period.
NMA is a consulting firm based in California, USA and is at arm's length with the Company. During the term of the agreement, NMA will provide focused financial relations, media relations and market development consulting services to the Company, such duties to include:
- To assist management, as requested, to disseminate the Company's news releases to specifically targeted investors, brokers, equity managers, and financial advisory newsletters, with follow-ups and response devices;
- To introduce the Company to a resource-oriented retail, brokerage and money manager community through programmed contacts, mailings and management meetings; and
- To expose the Company as a high-quality, low-cost resource to financial advisory media and business press through programmed media development activities.
In co-operation with the Company's management group, NMA will be working to develop a consistent, positive identity that creates favorable responses to major corporate initiatives and strategies.
Stock options grant
The Company also granted 200,000 stock options at a price of $0.28 per share for a period of two years, expiring July 3, 2009 to an officer.
About the Sutter Gold Mine
The Sutter Gold project contains a 3.2-mile segment of the Mother Lode belt from which 10 historic mines produced 2.3 million ounces of gold. The historic mines bracket a one-mile-long portion of the Mother Lode belt with no historic gold production that contains the Lincoln and Comet zones. The Lincoln and Comet zones were "blind" discoveries that did not outcrop at surface and represent the first significant new gold discoveries made along the Mother Lode belt in the last 50 years. The Sutter Gold project has been the subject of considerable modern exploration activity, most of it centering on the Lincoln and Comet zones, which are adjacent to each other and together are referred to as the Lincoln project. A total of 85,085 feet of drilling has been accomplished in 190 diamond drill holes, and modern underground development consists of a 2,850-foot declined ramp with 2,400 feet of crosscuts and five raises. The historic gold production was documented in a detailed report completed by Mark Payne, the consulting geologist to Sutter Gold and a qualified person as defined by National Instrument 43-101. Further information is available at the Company's website at www.suttergoldmining.com.
The TSX Venture Exchange has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this news release.
Contact:
Hal Herron
Sutter Gold Mining Inc.
CEO
(307) 856-9271
Email: hal@usnrg.com
Mark T. Brown
Sutter Gold Mining Inc.
Director
(604) 687-3520
(604) 688-3392 (FAX)
Email: mtbrown@pacificopportunity.com
Website: www.suttergoldmining.com
Hopefully everyone caught this info on the DPDW board Wednesday followed the next morning by this PR. We've first recommended this when it dropped under .20. The light volume drop under .60 was another nice buying opportunity (as was one around .40 a while back). Nice 4 bagger since then! Easy money!
Press Release Source: Deep Down, Inc.
Dahlman Rose Initiates Research on Deep Down
Thursday July 26, 8:26 am ET
HOUSTON, July 26 /PRNewswire-FirstCall/ -- Deep Down, Inc. (OTC Bulletin Board: DPDW - News) today announced that Dahlman Rose & Company, LLC (MEMBER: NASD/SIPC) has initiated research coverage of the Company with a BUY rating and a target price of $1.50 per share.
"The management team and employees of Deep Down are very pleased with this unsolicited and uncompensated research by such a prestigious firm. We believe this interest in providing coverage lends credible third-party validation that our business model is sound and capable of generating significant shareholder value," commented Robert E. Chamberlain, Jr., Deep Down's chairman.
"In seven months since listing DPDW on the over-the-counter Bulletin Board® (OTCBB) exchange, Deep Down's strategy of organic growth, coupled with strategic acquisitions of complementary industry service providers such as ElectroWave USA and our currently pending acquisition of Mako Technologies, is gaining significant momentum," Chamberlain concluded.
About Dahlman Rose & Co., LLC
Dahlman Rose & Company, LLC (MEMBER: NASD/SIPC) is a leading full-service investment bank that offers exceptional value-added research, trading, and advisory services about growing companies, specializing in verticals within the energy sector, including marine shipping and offshore services, oilfield services, and electric utilities. Furthermore, Dahlman Rose offers investment banking capabilities across the entire capital structure to clients in the U.S. and globally. The firm provides performance for its clients through its sector specialization, and its personnel are attuned to the important day-to- day drivers in daily share price movement. Their team has cultivated a thorough understanding of these industries and their drivers by leveraging relationships with an extensive roster of company management and industry contacts. Dahlman Rose has offices in New York, Houston, San Francisco, and New Orleans. Further information on Dahlman Rose may be obtained at http://www.dahlmanrose.com.
About Deep Down, Inc.
Deep Down specializes in the provision of innovative solutions, installation management, engineering services, support services, custom fabrication, and storage management services for the offshore subsea control, umbilical, and pipeline industries. The company fabricates component parts of subsea distribution systems and assemblies that specialize in the development of subsea fields and tie backs. These items include umbilicals, flow lines, distribution systems, pipeline terminations, controls, winches, and launch and retrieval systems, among others. Deep Down provides these services from the initial field conception phase, through manufacturing, site integration testing, installation, topside connections, and the final commissioning of a project. The Company's ElectroWave subsidiary offers products and services in the fields of electronic monitoring and control systems for the energy, military, and commercial business sectors. ElectroWave designs, manufactures, installs, and commissions integrated PLC and SCADA based instrumentation and control systems, including ballast control and monitoring, drilling instrumentation, vessel management systems, marine advisory systems, machinery plant control and monitoring systems, and closed circuit television systems.
The Company's strategy is to consolidate service providers to the offshore industry, as well as designers and manufacturers of subsea, surface, and offshore rig equipment used by major, independent, and foreign national oil and gas companies in deep-water exploration and production of oil and gas throughout the world. Deep Down's customers include BP Petroleum, Royal Dutch Shell, Exxon Mobil Corporation, Devon Energy Corporation, Chevron Corporation, Anadarko Petroleum Corporation, Marathon Oil Corporation, Kerr-McGee Corporation, Nexen Inc., BHP, Amerada Hess, Helix, Oceaneering International, Inc., Subsea 7, Inc., Transocean Offshore, Diamond Offshore, Marinette Marine Corporation, Acergy, Veolia Environmental Services, Noble Energy Inc., Aker Kvaerner, Cameron, Oil States, Dril-Quip, Inc., Nexans, Cabett, JDR, and Duco, among others. For further company information, please visit http://www.deepdowninc.com and http://www.electrowaveusa.com
One of our most important responsibilities is to communicate with shareholders in an open and direct manner. Comments are based on current management expectations, and are considered "forward-looking statements," generally preceded by words such as "plans," "expects," "believes," "anticipates," or "intends." We cannot promise future returns. Our statements reflect our best judgment at the time they are issued, and we disclaim any obligation to update or alter forward-looking statements as the result of new information or future events. Deep Down urges investors to review the risks and uncertainties contained within its filings with the Securities and Exchange Commission.
Source: Deep Down, Inc.
For Immediate Release
U.S. ENERGY CORP. PROVIDES “LUCKY JACK” MOLYBDENUM PROJECT UPDATE
KOBEX APPROVES $14 MILLION BUDGET
Riverton, Wyoming (July 6, 2007) — U.S. Energy Corp. (NASDAQ Capital Market: “USEG”) is pleased to provide the following update on its “Lucky Jack” molybdenum project located in west central Colorado.
Background
The Lucky Jack (formerly known as Mt. Emmons) molybdenum project was originally discovered by AMAX Inc. in the 1970s on mineral claims held by U.S. Energy Corp. and Crested Corp. (“USECC”). The mineral claims were subsequently sold to AMAX, which reportedly spent in excess of $150 million delineating and planning for the production of a “world-class” molybdenum deposit. In 1980, AMAX was granted a permit for a 20,000 ton per day (tpd) block cave mining operation. They did not sign the permit due to depressed molybdenum prices. Historical records filed with the Bureau of Land Management (BLM) in the 1990s for the application of patented mineral claims identify resources of some 220 million tons of having a grade of 0.366% MoS2. A high grade section of the mineralization containing some 22.5 million tons at a grade of 0.701% MoS2 was also reported.
In 2002, water rights for the property were granted, and in 2004 additional patents were granted by the BLM. In 2006, the property was contractually returned to USECC by Phelps Dodge Corporation, the successor to AMAX. In 2007, USECC and Kobex Resources, Ltd. (TSX Venture Exchange: “KBX.V”) entered into an agreement whereby Kobex has a right to earn up to a 65% interest in the project and reduce USECC’s gross royalty to 2%, if certain terms and conditions are met (see April 3, 2007 8-K filing).
Project Status
Currently, USECC and Kobex (“the companies”) are evaluating historical data and engineering studies ranging from a 6,000 tpd to a 20,000 tpd operation for drafting a Plan of Operations (POO) to be submitted to the U.S. Forest Service in the fourth quarter of 2007. The companies have retained consultants to prepare hydrological, geotechnical, electrical, transportation and socioeconomic studies. Additionally, several upgrades have been made at the water treatment plant and more are planned to optimize operations.
The companies initiated a community relations program with the hiring of Clyde Gillespie in October 2006. Mr. Gillespie is a former Kinross Gold employee who moved to Gunnison, Colorado after spearheading the effort to obtain a permit for the Buckhorn Gold Project in north-central Washington State. While with Kinross, Clyde also permitted mines in Alaska and Nevada. Once the POO has been filed, the companies plan to work with the local communities concerning mine plan options.
In addition, a comprehensive underground rehabilitation program will be started to enhance the existing underground mine workings. The program is scheduled to begin later this month and should be completed in nine to ten months. This work will pave the way for drilling crews to enter existing drill stations in the high-grade section of the mine for the commencement of a close-spaced drilling program to further delineate the deposit. Diamond drill results will facilitate further resource analyses and a full feasibility study to be initiated in early 2008.
In addition to Mr. Gillespie and numerous consultants now working on the project, Kobex has hired project management, engineering, geology, resource and administrative personnel that are collectively assigned to the project at Kobex’s corporate offices in Vancouver, British Columbia, and at field offices in both Gunnison and at the Lucky Jack Project site near Crested Butte, Colorado. The USECC joint venture (between U. S. Energy and its majority-owned subsidiary Crested Corp.) contributes management and accounting resources from its Riverton, Wyoming headquarters.
Last week Kobex management approved a $14 million (May 1, 2007 through April 30, 2008) budget for the project. To date (since December 2006), approximately $5 million in expenditures have been authorized for work presently underway. Kobex is contractually required to spend only $4.2 million this year but any amounts spent in excess of $4.2 million will be credited towards future years’ expenditure commitments.
The companies will further evaluate the geological model of the mine, the mine production schedule, the tailings and plant design, infrastructure and manpower requirements. The full feasibility study should be completed by 2010, and an Environmental Impact Statement decision should also be issued during that year. If these timelines are met, the companies expect construction of the mine to begin in 2011, with first production anticipated in 2013.
The Market
The market for molybdenum remains robust. Since 2005, annual global demand has risen from 380 million pounds (lbs.) to an estimated 426 million lbs. in 2007, with demand projected to reach 461 million lbs. by 2009. With demand being fueled by economic and industrial growth in China, India, the U.S. and the global energy sector, some economists forecast growth at a 4.5% compound annual growth rate for the foreseeable future. If such forecasts prove realistic, worldwide demand for molybdenum could reach or exceed 700 million pounds annually by 2020. Today molybdic oxide (Mo) is trading in the $33-35/lb. range in a tight supply/demand market environment.
Kobex Funding
On May 11, 2007, Kobex announced the completion of an approximate $25 million equity financing, with the proceeds of the capital raise dedicated to the Lucky Jack project. On May 23, 2007, Kobex paid the first $750,000 option payments with shares of Kobex common stock. For more information please see the Form 8-K filed on June 4, 2007
“We are very pleased with the progress that has been made since signing our Letter Agreement on October 10, 2006 with Kobex,” stated Mark J. Larsen, President and Chief Operating Officer of U.S. Energy Corp. “Kobex’s experienced management team has recognized the ‘world-class’ nature of this molybdenum deposit and has immediately set out to advance the project towards further resource delineation in an effort to commence a full feasibility study as soon as possible. They are putting their recently raised capital to work in an accelerated fashion and we couldn’t be more delighted with their efforts and management team. The market for molybdenum is projected to remain robust, and I firmly believe that Lucky Jack is a mine whose time has come. With technological advances, sound planning and strong management, I am very confident that our collective efforts will allow Lucky Jack to become the world’s next major primary molybdenum mine.”
"As the Lucky Jack project moves forward, we will continue to engage the local communities in the permitting process with the goal of making this project a win/win situation for all stakeholders to the maximum extent possible," stated Keith Larsen, Chairman of U. S. Energy Corp. "Kobex and USECC are fully committed to minimizing environmental impacts and to also work with the public at large about the significant economic benefits that will be realized when the mine is brought into production."
For Immediate Release
U.S. ENERGY CORP. ANNOUNCES A STOCK BUY BACK PROGRAM; REVIEWS CORPORATE DEVELOPMENT PLANS
COMPANY TO CONSIDER A DUAL LISTING ON THE TORONTO STOCK EXCHANGE
RIVERTON, Wyoming (July 2, 2007) – U.S. Energy Corp. (NASDAQ: “USEG”), a diversified natural resource exploration company announced today that it will initiate a share buy back program. The Company is also pleased to provide its corporate development strategy along with several project updates as follows.
Share Buy Back Program
The Board of Directors of USEG has approved a share buy back program for up to $5 million in USEG stock. The buy back program, effective immediately, will be handled exclusively through an individual brokerage firm and will be subject to blackout periods.
Corporate Development Plans
The Company is also pleased to provide the following review of its Board-approved corporate development plans and business development strategies, including:
1. The recent engagement of RBC Capital Markets as an investment banking advisor to, among other things, assist the Company in the identification and evaluation of project ventures and acquisitions.
2. An emphasis on investments in the natural resource sector, including oil and gas, through joint ventures or acquisitions comprising approximately 70% of the Company’s working capital. Consistent with our corporate history, our greatest investment emphasis will remain in the natural resource development sector.
3. An emphasis on cash flow investments in other sectors related to the surging growth in the energy basins and metro areas of the inter-mountain west comprising approximately 30% of the Company’s working capital, including real estate development and acquisitions. The corporate objective here is to continue to diversify U.S. Energy Corp.’s business interests into cash flow and revenue-generating activities in geographic areas that are significantly influenced by oil and gas and mining activities.
4. Completion of the Crested Corp. merger. This synergetic combination of companies is expected to occur in the fourth quarter of 2007.
5. The Company is considering a listing on the Toronto Stock Exchange (TSX) while maintaining its listing on the Nasdaq Capital Market. The TSX is one of the most active and visible stock exchanges in the world for natural resources companies.
Project Updates
Lucky Jack Molybdenum Project
The Company will continue to focus significantly upon the advancement of its “world-class” Lucky Jack molybdenum project located in west central Colorado, with an objective of bringing the mine into production as soon as feasible. The project operator, Kobex Resources Ltd. (KBX.V), (which has an option to purchase a 50% interest in the project for $50 million and is solely responsible for the first $50 million of expenditures on the project), has recently raised approximately $25 million in new capital for the Lucky Jack Project on Mt. Emmons. A comprehensive update on recent developments and planned activities will be issued on Thursday, July 5, 2007.
Oil and Gas
The Company has reentered the oil and gas exploration arena by signing an Exploration and AMI Agreement in the Gulf Coast region of the United States. Please see our release dated July 2, 2007.
Sutter Gold
Based on the success of Sutter's 18,000 foot 2006-2007 core drilling program at its Lincoln Project located in the historic Mother Lode Mining District of northern California, management has decided to expand the program with a new 9,500 foot surface and underground core drilling program. The primary goal of the new drill program is to extend the gold resource contained in the Keystone 5 vein which could potentially host up to 300,000 tons of new mineralization. Sutter expects to receive an updated resource report on the project within the next week. The updated resource report is the final component required for completing the independent pre-feasibility study which should be released by the end of July 2007.
A Phase I core drilling program is planned for August-September 2007 at Sutter Gold's concession in the heart of the historic El Alamo Gold District in Baja California Norte, Mexico. El Alamo was the site of the gold rush of 1888 and a proven high grade district with geologic similarities to the prolific Mother Lode. Premier Gold Mines Limited (PGM.V) is Sutter's partner in this exploration program and, is committed to funding the first $1.5 million in exploration expenditures.
Gillette, Wyoming Multi-Family Project
Commencement of site work and infrastructure installation is underway at U.S. Energy Corp.’s multi-family housing development in Gillette, Wyoming. To date, the Company has invested $3.6 million in land acquisition, entitlements and site and civil infrastructure work. The total cost for the 216-apartment complex is expected to approximate $26 million, and the Company recently received a $29 million independent appraisal for the project.
The city of Gillette, Wyoming continues to grow at an accelerated pace due to the tremendous coal reserves in the Powder River Basin (“PRB”) in Wyoming. Gillette’s population is forecast to expand from approximately 27,000 today to 50,000 by the year 2015. The Powder River Basin produced nearly 400 million tons of low sulphur coal in 2006, and such production is projected to reach 600 million tons annually by 2012. In addition, railroads are being expanded in the basin, and construction should be underway on two new coal-fired power plants in the next 12-18 months. The PRB is also the leading natural gas producing basin in Wyoming. The resultant strong economy in the area has driven the apartment vacancy rate in Gillette to an astoundingly low .027% and created an ideal environment for U.S. Energy Corp.’s new apartment project. Due to the housing crisis in Gillette, the Company expects to pre-lease most, if not all, of its housing units at a premium to current rents before construction of the project is completed.
The management of USEG has received conditional approval to finance up to $21 million on the project and expects to receive a construction finance commitment soon.
Management Comments
“Today our Company is clearly in the best position it has been in since its inception, from both a financial perspective and in terms of the opportunities available for the enhancement of shareholder values,” observed Mark J. Larsen, President and Chief Operating Officer of U.S. Energy Corp. “We are pleased to present our corporate vision to shareholders and to have announced a special cash dividend last week. We firmly believe that our shares are undervalued at their current price on Nasdaq and, for this reason, our Board has approved the repurchase of up to $5 million in our common stock, when management considers such transactions appropriate.”
He added, “The vision for our Company is clear. Our strongest emphasis will remain to focus on natural resource development as we announced today that we have entered into an Exploration and AMI Agreement in the Gulf Coast region of the United States. Additionally, we have several other mineral projects under review and we will continue to be very selective regarding the projects we pursue. At the same time, we also look to diversify our interests by finding select investment opportunities in other sectors that we firmly believe will enhance shareholder value through the establishment of recurring revenues and cash flow.”
“With our strong cash position and a well-capitalized Lucky Jack project operator, Kobex Resources, we look to effectively execute on our stated goals of building shareholder value,” stated Keith G. Larsen, Chief Executive Officer of U.S. Energy Corp. “We own one of the most exciting mineral projects in the world with Lucky Jack. Its ‘world-class’ resources and our ‘world-class’ operating partner present an opportunity for us to develop one of the largest and richest mineral deposits in the world. Additionally, we have engaged a ‘world-class’ investment banking firm to help guide us through the exciting days ahead as we build on what we have now and the opportunities yet to come.”
Here's what they'll be doing with a little of that 100M!
For Immediate Release
U.S. ENERGY CORP. ANNOUNCES EXPLORATION
AND AREA OF MUTUAL INTEREST AGREEMENT IN
GULF COAST REGION OF THE UNITED STATES
RIVERTON, Wyoming ( July 2, 2007 ) – U.S. Energy Corp. ( NASDAQ: “USEG”) is pleased to announce that it has signed an Exploration and Area of Mutual Interest agreement with a Gulf Coast Oil and Gas Exploration and Production Company.
The agreement encompasses a significant Area of Mutual Interest in which USEG anticipates it will participate as a 20% working interest partner in numerous wells that will be drilled over the next three to five years.
USEG’s original commitment is for approximately $3,000,000, which has been tendered.
Two prospects have already been leased and exploration and development activities should commence in the later part of the fourth quarter 2007 or the first quarter of 2008.
USEG believes that numerous prospects will be generated, leased and drilled potentially resulting in $10,000,000 to $15,000,000 in exploration and development expenditures for the Company over the course of the anticipated three to five year program.
In addition to the signing of the Exploration Agreement, USEG has retained Brian Wildes
to act as technical advisor to the Company in regards to the project. Mr. Wildes has over 30 years experience in the exploration and development of oil and gas properties in Kansas, Oklahoma, Texas and Louisiana.
“In signing this Exploration Agreement, USEG enters a new era for our shareholders,” Keith G. Larsen, Chief Executive Officer of U. S. Energy Corp. commented. “We feel very fortunate to be presented with this opportunity to explore for oil and gas in prolific oil and gas territory. USEG will be searching for significant reserves in every well drilled.”
Mark J. Larsen, President of U.S. Energy Corp. added, “This presents a fabulous opportunity for USEG for years to come. It is our objective to generate significant cash flows for the Company for several years from this exploration activity in the strongest gas pricing region in the nation.”
For Immediate Release
U.S. ENERGY CORP. AND CRESTED CORP. ANNOUNCE COMPLETION OF SALE OF URANIUM ONE, INC. HOLDINGS
CONSOLIDATED CASH BALANCES CURRENTLY EXCEED $100 MILLION
Riverton, Wyoming (July 27, 2007) — U.S. Energy Corp. (NASDAQ Capital Market: “USEG”) and Crested Corp. (OTCBB: “CBAG”), announced today that they have liquidated all of their shares of Uranium One, Inc. (TSE and JSE: “SXR”) related to their uranium assets sale on April 30, 2007. On May 1, 2007 USEG and CBAG liquidated 4.4 million shares of the 6,607,605 shares received on April 30, 2007. The net cash received from that transaction on a consolidated basis and as previously announced, totaled $61,044,600, or US $13.87 per share. On Thursday, July 26, 2007, USEG and CBAG received final net proceeds from the sale of their remaining 2,207,605 shares of $29,679,400 on a consolidated basis, or US $13.45 per share. The final sale of USEG’s and CBAG’s Uranium One shares was executed on July 12, 2006 and settled on July 26, 2007. In addition to the receipt of funds from the sale of Uranium One shares, USEG and CBAG also recently received approximately $7,300,000 in funds from various agencies related to the release of various uranium asset reclamation bonds that were assumed by Uranium One.
USEG and CBAG’s remaining uranium asset is a 4% Net Profits Interest on the reportedly 50 million pound uranium deposit at Green Mountain in Wyoming, which is owned by Rio Tinto, Inc. Additionally, if certain conditions are met by Uranium One under its Asset Purchase Agreement with USEG and CBAG, the companies stand to receive up to an additional $40 million in cash payments from Uranium One in the future.
“The sale of our shares of Uranium One in no way reflects any lack of confidence in Uranium One executing on their business plan to become a major global uranium producer. Rather, it is illustrative of our corporate vision to build our cash position and avoid speculation in the securities markets,” stated Mark J. Larsen, President of USEG. “With over $100 million in cash in the bank, our goal is to invest and leverage our resources effectively into select mineral investments including oil and gas, that can deliver recurring revenues to our shareholders. Meanwhile, we will continue to focus very strongly on working closely with our operating partner, Kobex Resources Ltd., to advance our ‘world class’ Lucky Jack molybdenum project,” he added.
* * * * *
Disclosure Regarding Mineral Resources
Under SEC and Canadian Regulations;
and Forward-Looking Statements
The Company owns or may come to own stock in companies which are traded on foreign exchanges, and may have agreements with some of these companies to acquire and/or develop the Company’s mineral properties. Examples of these other companies are Sutter Gold Mining Inc. and Kobex Resources Ltd. These other companies are subject to the reporting requirements of other jurisdictions.
United States residents are cautioned that some of the information available about our mineral properties, which is reported by the other companies in foreign jurisdictions, may be materially different from what the Company is permitted to disclose in the United States.
This news release includes statements which may constitute “forward-looking” statements, usually containing the words “believe,” “estimate,” “project,” “expect," or similar expressions. These statements are made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, future trends in mineral prices, the availability of capital, competitive factors, and other risks. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revision or changes after the date of this release.
For further information on the differences between the reporting limitations of the United States, compared to reports filed in foreign jurisdictions, and also concerning forward-looking statements, please see the Company’s Form 10-K (“Disclosure Regarding Forward-Looking Statements”; “Disclosure Regarding Mineral Resources under SEC and Canadian Regulation”; and “Risk Factors”); and similar disclosures in the Company’s Forms 10-Q.
* * * *
For further information, please contact:
Keith G. Larsen, CEO or Mark J. Larsen, President
U.S. Energy Corp. (307) 856-9271
For Immediate Release
U.S. ENERGY CORP. AND CRESTED CORP. ANNOUNCE COMPLETION OF SALE OF URANIUM ONE, INC. HOLDINGS
CONSOLIDATED CASH BALANCES CURRENTLY EXCEED $100 MILLION
Riverton, Wyoming (July 27, 2007) — U.S. Energy Corp. (NASDAQ Capital Market: “USEG”) and Crested Corp. (OTCBB: “CBAG”), announced today that they have liquidated all of their shares of Uranium One, Inc. (TSE and JSE: “SXR”) related to their uranium assets sale on April 30, 2007. On May 1, 2007 USEG and CBAG liquidated 4.4 million shares of the 6,607,605 shares received on April 30, 2007. The net cash received from that transaction on a consolidated basis and as previously announced, totaled $61,044,600, or US $13.87 per share. On Thursday, July 26, 2007, USEG and CBAG received final net proceeds from the sale of their remaining 2,207,605 shares of $29,679,400 on a consolidated basis, or US $13.45 per share. The final sale of USEG’s and CBAG’s Uranium One shares was executed on July 12, 2006 and settled on July 26, 2007. In addition to the receipt of funds from the sale of Uranium One shares, USEG and CBAG also recently received approximately $7,300,000 in funds from various agencies related to the release of various uranium asset reclamation bonds that were assumed by Uranium One.
USEG and CBAG’s remaining uranium asset is a 4% Net Profits Interest on the reportedly 50 million pound uranium deposit at Green Mountain in Wyoming, which is owned by Rio Tinto, Inc. Additionally, if certain conditions are met by Uranium One under its Asset Purchase Agreement with USEG and CBAG, the companies stand to receive up to an additional $40 million in cash payments from Uranium One in the future.
“The sale of our shares of Uranium One in no way reflects any lack of confidence in Uranium One executing on their business plan to become a major global uranium producer. Rather, it is illustrative of our corporate vision to build our cash position and avoid speculation in the securities markets,” stated Mark J. Larsen, President of USEG. “With over $100 million in cash in the bank, our goal is to invest and leverage our resources effectively into select mineral investments including oil and gas, that can deliver recurring revenues to our shareholders. Meanwhile, we will continue to focus very strongly on working closely with our operating partner, Kobex Resources Ltd., to advance our ‘world class’ Lucky Jack molybdenum project,” he added.
* * * * *
Disclosure Regarding Mineral Resources
Under SEC and Canadian Regulations;
and Forward-Looking Statements
The Company owns or may come to own stock in companies which are traded on foreign exchanges, and may have agreements with some of these companies to acquire and/or develop the Company’s mineral properties. Examples of these other companies are Sutter Gold Mining Inc. and Kobex Resources Ltd. These other companies are subject to the reporting requirements of other jurisdictions.
United States residents are cautioned that some of the information available about our mineral properties, which is reported by the other companies in foreign jurisdictions, may be materially different from what the Company is permitted to disclose in the United States.
This news release includes statements which may constitute “forward-looking” statements, usually containing the words “believe,” “estimate,” “project,” “expect," or similar expressions. These statements are made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, future trends in mineral prices, the availability of capital, competitive factors, and other risks. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revision or changes after the date of this release.
For further information on the differences between the reporting limitations of the United States, compared to reports filed in foreign jurisdictions, and also concerning forward-looking statements, please see the Company’s Form 10-K (“Disclosure Regarding Forward-Looking Statements”; “Disclosure Regarding Mineral Resources under SEC and Canadian Regulation”; and “Risk Factors”); and similar disclosures in the Company’s Forms 10-Q.
* * * *
For further information, please contact:
Keith G. Larsen, CEO or Mark J. Larsen, President
U.S. Energy Corp. (307) 856-9271
LOL...no problem. Take care
We closed at .015 Wednesday
Press Release Source: Sutter Gold Mining Inc.
Sutter Gold Announces Latest Drilling Results and Commencement of Its 2007 Phase II Drill Program
Monday July 16, 2:33 pm ET
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - July 16, 2007) - Sutter Gold Mining Inc. (TSX VENTURE:SGM - News) today announced the final assay results have been received from its Phase I 2006-07 surface and underground diamond drilling programs at the project site located in the historic Mother Lode District east of Sacramento, California. Positive results to date has lead to the immediate commencement of a Phase II surface and underground program totaling 2,700 meters (9,000 ft.).
Underground Drilling Program
Hole 195 encountered strong gold mineralization with visible free gold in the 41, 40, and 20 Vein structures, including 2.8 meters @ 55.5 g/tonne (9.2 ft @ 1.62 oz/t) in the 41 Vein, 4.0 meters @ 8.9 g/t (13.1 ft @ 0.26 oz/t) in the 40 Vein, and 1.9 meters @ 7.9 g/t (6.2 ft @ 0.23 oz/t) in the 20 Vein. This hole successfully pin-pointed the position of the east-dipping 20 Vein, which limits the up dip extent of the gold mineralization in the west-dipping Comet Vein system. This was the final hole of the 2006 underground drill program and it should add significant new resources to all three of these vein structures.
The underground drill program has been completed. Assays have now been received for all thirty-three underground holes totaling 2,750 meters (9,000 ft). The drilling continued to validate Sutter Gold's structural and ore control models and demonstrated excellent continuity of the Comet veins.
Surface Drilling Program
Assay results from the last five surface drill holes have been received. Holes KDH-25 and KDH-28 intersected strong intervals of mineralization in the Keystone 5 Vein target, while hole KDH-26 hit a caved stope in the projected position of the K5 Vein and was unable to pass through. Hole KDH-27 was captured within a near-vertical fault and veered sharply away from the target and was abandoned at shallow depth.
Hole KDH-25 intersected 12.2 meters (40.2 ft) of vein quartz grading 2.1 g/tonne (0.06 oz/ton) gold from 282.1 to 294.4 meters (925.3-965.5 ft) in the Keystone 5 Vein, which included a higher grade interval at the footwall side of the structure with 0.9 meters (3.0 ft) grading 6.2 g/t (0.18 opt) from 292.5 to 293.4 meters (959.5-962.5 ft). Hole KDH-28 intersected 3.6 meters (12.0 ft) of highly-mineralized ribboned vein quartz containing coarse free gold at both the hanging and footwall sides of the vein grading 1.7 g/t (0.05 oz/t) from 336.9-340.5 meters (1105.0-1117.0 ft), including 0.9 meters @ 3.1 g/t (3.0 ft @ 0.09 oz/t). Hole KDH-26 encountered a narrow void (stope or drift) in the position of the Keystone 23 Vein, then another caved stope in the position of the K5 Vein. Several feet of sulfide replacement mineralization encountered at the hanging wall side of the K23 Vein stope included 2.6 meters @ 1.0 g/t (8.7 ft @ 0.03 oz/t) from 354.9-357.5 meters (1164.0-1172.7 ft).
The goal of the Phase I 2006 surface drilling program was to further define a portion of the historic Inferred Mineral Resource within the Keystone 5 Vein, with the goal of upgrading that portion of it to the Indicated Mineral Resource category. A total of eight surface core holes were completed in the 2006 drilling program, totaling 2,460 meters (8,067 ft).
Results and Analysis
Results from SGM's most recent diamond drill holes are shown in Table 1 below.
Drill Hole 195, and KDH-24 through KDH-28 Assay Summary
Visible
Interval width(i) Au Interval width(i) Au Au in
Hole# (m) (m) (g/tonne) (ft) (ft) (oz/ton) Vein Core
---------------------------------------------------------------------------
DDH-195 E 41,261.0; N 71,475.0; bear 203 deg, +83 deg, 76.5m (251 ft)
25.0 - 82.0 -
27.8m 2.8m 55.5 g/t 91.2 ft 9.2 ft 1.62 oz/t 41 Au
50.8 - 166.5 -
61.1m 10.3m 4.8 g/t 200.5 ft 34.0 ft 0.14 oz/t 40 Au
including
57.1 - 187.4 -
61.1m 4.0m 8.9 g/t 200.5 ft 13.1 ft 0.26 oz/t 40 Au
62.1 - 203.8 -
64.0m 1.9m 7.9 g/t 210.0 ft 6.2 ft 0.23 oz/t 20 Au
---------------------------------------------------------------------------
KDH-24 E 39,337.7; N 74,663.8; bear 206 deg, -64 deg, 241m (792 ft)
5.2 - 17.2 -
6.2m 1.0m 5.5 g/t 20.5 ft 3.3 ft 0.16 oz/t K13
22.0 - 72.0 -
22.9m 0.9m 1.7 g/t 75.0 ft 3.0 ft 0.05 oz/t
216.7 - 710.9 -
221.0m 4.3m 3.1 g/t 724.9 ft 14.0 ft 0.09 oz/t K5
including
219.0 - 718.5 -
221.0m 2.0m 5.5 g/t 724.9 ft 6.4 ft 0.16 oz/t K5
---------------------------------------------------------------------------
KDH-25 E 39,103.4; N 74,822.0; bear 240 deg, -82 deg, 304m (998 ft)
282.1 - 925.3 -
294.4m 12.2m 2.1 g/t 965.5 ft 40.2 ft 0.06 oz/t K23/K5
including
285.1 - 935.2 -
286.1m 1.0m 4.5 g/t 938.5 ft 3.3 ft 0.13 oz/t K23
and
292.5 - 959.5 -
293.4m 0.9m 6.2 g/t 962.5 ft 3.0 ft 0.18 oz/t K5
---------------------------------------------------------------------------
KDH-26 E 39,323.0; N 74,669.5; bear 314 deg, -86 deg, 373m (1225 ft)
32.2 - 105.5 -
36.7m 4.5m 3.8 g/t 120.5 ft 15.0 ft 0.11 oz/t K13
including
34.9 - 114.5 -
36.7m 1.8m 8.2 g/t 120.5 ft 6.0 ft 0.24 oz/t K13
354.9 - 1164.0 -
357.5m 2.6m 1.0 g/t 1172.7 ft 8.7 ft 0.05 oz/t K23
---------------------------------------------------------------------------
KDH-27 E 39,353.8; N 74,672.9; bear 200 deg, -85 deg, 66m (218 ft)
3.8 - 12.5 -
13.9m 10.0m 1.0 g/t 45.5 ft 33.0 ft 0.03 oz/t
15.4 - 50.5 -
16.9m 1.5m 1.7 g/t 55.5 ft 5.0 ft 0.03 oz/t
24.2 - 79.5 -
29.7m 5.5m 1.7 g/t 97.5 ft 18.0 ft 0.05 oz/t K13
55.2 - 181.0 -
56.1m 0.9m 1.0 g/t 184.0 ft 3.0 ft 0.03 oz/t
62.5 - 205.0 -
64.5m 2.0m 1.4 g/t 211.4 ft 6.4 ft 0.04 oz/t
---------------------------------------------------------------------------
KDH-28 E 39,709.5; N 74,548.4; bear 201 deg, -84 deg, 366.8m (1203 ft)
82.3 - 270.0 -
83.5m 1.2m 1.7 g/t 274.1 ft 4.1 ft 0.05 oz/t
136.6 - 448.0 -
142.1m 5.5m 1.0 g/t 466.0 ft 18.0 ft 0.03 oz/t K13
146.6 - 481.0 -
147.5m 0.9m 1.0 g/t 484.0 ft 3.0 ft 0.03 oz/t
336.9 - 1105.0 -
340.5m 3.6m 1.7 g/t 1117.0 ft 12.0 ft 0.05 oz/t K5 Au
including
338.7 - 1111.0 -
339.6m 0.9m 3.1 g/t 1114.0 ft 3.0 ft 0.09 oz/t K5 Au
---------------------------------------------------------------------------
(i) True vein widths for DDH-195 are 30-50%, and KDH - 24 to KDH - 28 are
approximately 75-100% of the reported intervals.
"The widely-spaced pattern of holes testing the Keystone 5 Vein target has confirmed excellent geological and grade continuity within a portion of the historic Inferred Mineral Resource documented within the South Spring Hill workings of the Keystone Mine. Five holes consistently encountered strong mineralization in the K5 Vein, with widths varying from 1 to 12 meters (3.0-31.2 ft) within a grade range of 3.1 to 9.9 g/tonne (0.09 - 0.29 oz/ton), and two holes encountered wide stopes. Coarse free gold was noted in three of the six holes. A simple arithmetic average for six drill intercepts through the K5 structure yields 3.6 meters (12.0 ft) grading 6.5 g/tonne (0.19 oz/t) along a 240 meter strike and 120 meter dip length (800 X 400 ft). Though the 2006 drill holes were widely spaced, detailed historic descriptions of geological and grade continuity were consistently confirmed across a broad area and an Indicated Mineral Resource can be estimated for this portion of the historic Inferred Mineral Resource in the K5 Vein. The 2006 drill program produced results that support the expansion of the Indicated Mineral Resource base for the project as well as providing essential geologic data for mine plan development. Further, with the overall results of the 2006 program quite positive, the Phase II diamond drill program was initiated on July 13, 2007," stated Mr. Hal Herron, President.
All core samples from the drilling program are sawn in half, with one half of the core being prepped and analyzed using screened metallics fire assay methods by American Assay Laboratory in Reno, NV. The remaining half core is stored in a secured facility at the Sutter Gold site for future inspection and assay verification. Standards and blanks are inserted into all sample shipments and a minimum of 10 percent of samples are resubmitted for duplicate analysis.
The Sutter Gold 2006 core drilling program is planned and supervised by Mr. Mark Payne, P.Geo. Calif. 7067, the Qualified Person for the Sutter Gold Project, as defined by NI 43-101, and has reviewed this release.
About Sutter Gold Mine
The Sutter Gold project contains a 3.2 mile segment of the Mother Lode belt from which 10 historic mines produced 2.3 million ounces of gold. The historic mines bracket a one-mile-long portion of the Mother Lode belt with no historic gold production and which contains the Lincoln and Comet zones. The Lincoln and Comet zones were blind discoveries that did not outcrop at surface and which represent the first significant new gold discoveries made along the Mother Lode belt in the last 50 years. The Sutter Gold project has been the subject of considerable modern exploration activity, most of it centering on the Lincoln and Comet zones, which are adjacent to each other and together referred to as the Lincoln project. A total of 101,385 feet of drilling have been accomplished in 230 diamond drill holes, and modern underground development consists of a 2,850-foot declined ramp with 2,400 feet of crosscuts plus five raises. The historic gold production was documented in a detailed report completed by Mark Payne, the consulting geologist to Sutter Gold and a qualified person as defined by National Instrument 43-101. Further information is available at the Company's Lincoln Project and El Alamo, Mexico gold concession at www.suttergoldmining.com.
The TSX Venture Exchange has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this news release.
Contact:
Hal Herron
Sutter Gold Mining Inc.
CEO
(307) 856-9271
Email: hal@usnrg.com
Mark T. Brown
Sutter Gold Mining Inc.
Director
(604) 687-3520
(604) 688-3392 (FAX)
Email: mtbrown@pacificopportunity.com
Website: www.suttergoldmining.com
Source: Sutter Gold Mining Inc.
http://biz.yahoo.com/ccn/070716/200707160402490001.html?.v=1
Thanks for letting us know excel!
It's also available on Amazon:
http://www.amazon.com/Hollywood-Thy-Name-DVD-Included/dp/0882703943/ref=pd_bbs_sr_3/104-1107188-0361...
RXPC Update:
The ones that doubted all the RXPC board DD are just now sorta figuring out that we do have a storefront that brought in 250-300K last year and now we have double the clients. We've been discussing that since the acquisitions in April. I have personally confirmed both acquisitions including our storefront in Ocala, FL. Talked to Nick and Walt on several occasions. Walt was paid 200K shares and is now an employee of RXPC from what I've been told. Our SS recently went up exactly that amount...200K. Doesn't take a genius to see that this storefront is likely bringing in 30-40K a month. Just with Walt's 500 clients from last year it was up to 25K a month and now we have the 500 clients from Can Save Rx. Walt seems like a very nice guy and he has always been upfront with me. All of Can Save Rx clients are now over at the RXPC storefront.
RMIC posts stay on the RMIC board. Period!
Be very wary of the RXPC board. There has been a concerted effort to bash the price down so a few could buy cheapies and then sell on the first uptick like today. Why would you constantly bash a stock you own for weeks on end? (you wouldn't) Or why would you constantly bash a stock you say you don't own or have already sold? It's blatantly obvious. I don't know about you but when I own and stock and then decide it's no longer a good investment, I leave. I might post once why I don't like it anymore but that's it. Even today one of the long time bashers is trying his FUD. That don't fly with me. Like I've been saying for a long time. I-Hub scammers are much more prevalent than .pk scammers.
SLON Update:
Audit done and paperwork just about ready to be sent to the SEC for planned uplist to the OTCBB.
Press Release Source: Salon City, Inc.
Salon City, Inc. Receives Sign Off Approval from Independent Auditors for SEC Filing
Monday July 9, 9:30 am ET
SCI's Legal Team Will Send Form 10-SB To SEC
WEST HOLLYWOOD, Calif.--(BUSINESS WIRE)--Salon City, Inc. (OTC:SLON - News) announced today that auditors Lake and Associates LLC have given approval and officially signed off on their two-year independent audit of Salon City, Inc., in final preparation of SCI's 10-SB filing with the Securities and Exchange Commission to uplist to the Over the Counter Bulletin Board.
SCI's legal team is finalizing the necessary documents to accompany the approved audit, and project the filing will be sent to the SEC in the next few days. Steven Casciola, SCI's President & CEO stated, "This process has taken months to prepare for, and now that the independent auditors have approved the audit, we are grateful to see that sustentative progress has been achieved from a coordinated effort of many committed professionals. This is also a symbolic time (during the 4th of July week) to take this important, historical step for SLON's growth, scalability and future expansion. It clearly demonstrates how good people have come together, SLON investors and fans alike, to collectively pursue the American Dream of creating more wealth, prosperity, beauty and happiness in life by being the best you can be."
Upgrading SLON's reporting status to the OTCBB is an important milestone in the Company's drive towards branding itself as an emerging media, distribution and marketing powerhouse for lifestyle and beauty entertainment around the world.
About Salon City, Inc.
Salon City Magazine, America's newest lifestyle publication published by Salon City, Inc., is now nationally distributed by Time Warner Retail, a Time Warner Company (NYSE:TWX - News), and internationally by Kable News Distribution, an AmRep company (NYSE: AXR - News), in 30 countries around the world.
For information on SLON, visit www.saloncity.com or email Investors Relations at info@saloncity.com. Listen to SLON's weekly conference calls: Dial 605-725-1900 (Code:010405), Thursdays, 4 p.m. ET.
Certain information contained in these materials is "forward-looking" information, such as projections, estimates, pro formas, or statements of intentions, expectations or plans. All forward-looking information is subject to known and unknown risks and uncertainties, many of which are outside of the control of the Company. Consequently, actual results may, and probably will, differ materially from the results contemplated in such forward-looking information.
Contact:
Salon City, Inc.
Steven G. Casciola, President and CEO, 310-402-2819
Renee Simone, Media Communications, 310-734-4320
Source: Salon City, Inc.
SGM.V Update:
This is the last PR indicating that the pre-feasibility study should be out in July now. Should be very interesting to see the new numbers. May get a nice pop on any new bigger Indicated AU numbers but overall this is still likely a much longer term play for 2008 and beyond.
Press Release Source: Sutter Gold Mining Inc.
Sutter Gold Announces Continuation of Surface and Underground Diamond Drill Program
Tuesday June 26, 9:30 am ET
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - June 26, 2007) - Sutter Gold Mining Inc. (TSX VENTURE:SGM - News) today announced a new surface and underground core drilling program for its Lincoln Project in California. A 2,100 meter (7,000 ft.) surface drill program of six holes is planned on the Company's Keystone property and one deep exploratory hole of approximately 600 meters (2,000 ft.) is planned from an underground drill station. Management decided to continue the core drilling based on the encouraging results obtained from the 2006-2007 drill program that was completed in June 2007. The drill program's objectives are as follows:
1. Surface: To further test and define 200 meters (650 ft.) of strike length southward from 2006 drill holes KDH-24 and KDH-28 with the goal of extending the gold resource contained in the Keystone 5 vein which could potentially host up to 300,000 tons of new mineralization; and
2. Underground: This deep hole is to test for recurring sets of gold-quartz veins to 750 meters (2,500 ft.) in the boudinaged meta-basalt unit hosting the Lincoln - Comet Zones and to potentially add new inferred mineral resources to the project.
"We are excited about leveraging the excellent results of the 2006-2007 drilling program into this new US$700,000 program. It is a logical extension based on the results thus far. This is a real opportunity to significantly advance the project by potentially increasing the Inferred Resource in a significant way."
"Work continues on the pre-feasibility study and resource updates based on the 2006-2007 drill program. Management anticipates announcing both work products in July 2007 which is a slight delay from our previous estimate of June 2007," noted Hal Herron, Chief Executive Officer of Sutter Gold Mining Inc. "As reported earlier, this drilling program only affects some 10% of the 3.2 miles of Mother Lode trend that the Company controls, leaving some 90% of the property open for exploration potential...along both strike and at depth."
Mr. Mark Payne, P. Geo. Calif. 7067, is the Qualified Person for the Sutter Gold Project, as defined by NI 43-101 and has reviewed this release.
About the Sutter Gold Mine
The Sutter Gold project contains a 3.2-mile segment of the Mother Lode belt from which 10 historic mines produced 2.3 million ounces of gold. The historic mines bracket a one-mile-long portion of the Mother Lode belt with no historic gold production that contains the Lincoln and Comet zones. The Lincoln and Comet zones were "blind" discoveries that did not outcrop at surface and represent the first significant new gold discoveries made along the Mother Lode belt in the last 50 years. A total of 85,085 feet of drilling has been accomplished in 190 diamond drill holes, and modern underground development consists of a 2,850-foot declined ramp with 2,400 feet of crosscuts and five raises. A NI 43-101 compliant resource report has outlined indicated and inferred resources at the project. The project has also received all of the major permits required for production. The historic gold production was documented in a detailed report completed by Mark Payne, the consulting geologist to Sutter Gold and a qualified person as defined by National Instrument 43-101. Further information is available at the Company's Lincoln Project and El Alamo, Mexico gold concession at www.suttergoldmining.com.
The TSX Venture Exchange has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this news release.
Contact:
Hal Herron
Sutter Gold Mining Inc.
CEO
(307) 856-9271
Email: hal@usnrg.com
Mark T. Brown
Sutter Gold Mining Inc.
Director
(604) 687-3520
(604) 688-3392 (FAX)
Email: mtbrown@pacificopportunity.com
Website: www.suttergoldmining.com
Source: Sutter Gold Mining Inc.