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From NASDAQ- Stock Research Analyst Summary
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Consensus
1.25
Thanks for list,and links. I dont have PM. I didn't know TSE:R was on here :) Will look at the list people this weekend. Thanks again, GLTY
As you can tell I've only recently started DD on this one. But the pps has gone up since I started. Please post anything you see or find out. Thanks
The Ultimate Oscillator is weakening as it has recently dropped below the critical level of 70 and now stands at 57.18%. The internal strength of the stock appears to be waning.The MACD for RTRAF currently indicates a strong bullish signal for two reasons. First, the MACD is above the signal line, a 9-week moving average. Second, the MACD is above 0 which implies that the underlying moving averages are trending higher. GLTY
COECF is trading below its 10 week simple moving average.COECF is trading below its 14 week price channel.The On Balance Volume indicator shows that longer term selling pressure has given way to near term accumulation.The RSI, is currently at 20.91 suggesting that COECF is oversold.
CanAm Coal Corp. (TSX VENTURE:COE) (OTCQX:COECF) ("CanAm" or the "Company") is pleased to announce that it has completed a non-brokered private placement of 960,000 units at a price of $0.13 per unit for gross proceeds of $124,800. Each unit will consist of one common share and one half common share purchase warrant. Each warrant is exercisable at $0.17 per common share for a period of two years from closing. This private placement has been fully subscribed for by Mr. Steve Somerville, who has been appointed a Director of the Company.
Proceeds of the private placement will be used for general operating purposes. The completion of the private placement is subject to regulatory approval. CanAm has determined that there are exemptions available from the various requirements of TSX Venture Policy 5.9 and Multilateral Instrument 61-101 for the issuance of the units to Mr. Steve Somerville (Formal Valuation - Issuer Not Listed on Specified Markets; Minority Approval - Fair Market Value Not More Than $2,500,000).
About CanAm Coal Corp.
CanAm is a coal producer and development company focused on growth through the acquisition, exploration and development of coal resources and resource-related technologies. CanAm's main activities and assets include its four operating coal mines in Alabama and the Buick Coal Project which holds significant coal resources, 188 million indicated and 103 million inferred resources, in Colorado, USA (see the technical report entitled "Limon Lignite Project, Elbert County, Colorado, USA," dated October 26, 2007 and filed on SEDAR on November 2, 2007). Other coal and related opportunities continue to be evaluated on an ongoing basis.
This news release may contain certain forward-looking information. All statements included herein, other than statements of historical fact, is forward-looking information and such information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. A description of assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in the Company's disclosure documents on the SEDAR website at www.sedar.com. The Company does not undertake to update any forward-looking information except in accordance with applicable securities laws.
SOURCE: CanAm Coal Corp.
CanAm Corporate Office:
Tim Bergen
CEO
403.262.3797 or Toll Free: 1.877.262.5888
tbergen@canamcoal.com
Brisco Capital Partners:
Scott Koyich
Partner
403.262.9888
scott@briscocapital.com
.
The On Balance Volume indicator presently offers a bearish signal. The RSI, is currently at 29.33%, below the critical value of 30, which suggests that AQARF is oversold.AQARF's MACD is currently indicating a weak bullish signal. AQARF is trading within its price channel.
RTRAF's recent volatility has been greater than normal, according to the price channel.The On Balance Volume indicator presently offers a bullish signal. According to the DMI, The +DI line is above the -DI line and the ADX is greater than 20. This is a bullish signal that indicates the stock is in a confirmed uptrend.
The On Balance Volume indicator presently offers a bullish signal.
TVIPF is trading below its 10 week simple moving average. However, this moving average is trending higher which suggests that there has been buying interest in this stock.The On Balance Volume indicator (OBV) shows that longer term selling pressure has given way to near term accumulation..
Mindoro Resources announced The Notice of Meeting, Management Information Circular and Proxy pertaining to the Special Shareholders Meeting to be held at 4 p.m. on Oct. 9 in Calgary, Alberta, Canada.
In a release on Sept. 7, the Company said the notice was filed on Sedar and released to the ASX on Sept. 6. Key resolutions include the approval by shareholders of the second tranche of the private placement involving TVI Pacific, Inc.
In addition, Mindoro, TVI and TVI Resource Development Phils., Inc. ("TVIRD") have agreed to amend the Heads of Agreement ("HOA") to reflect:
-the further extension of the closing date for the first tranche of the private placement to on, or before, Sept. 21. It is a condition to closing the first tranche of the private placement that the Agata and Pan De Azucar joint venture agreements contemplated in the HOA (as amended) are finalised and executed. Good progress is being made with respect to the negotiation and finalising of these joint venture agreements.
-an amendment to the exclusive right of TVIRD to form a joint venture relating to the Pan De Azucar Project to include the right to form a Direct Shipping Ore ("DSO") Joint Venture ("PDADJV") as well as the contemplated (in the HOA) Pan De Azucar Processing Joint Venture ("PDAPJV"), which effectively reflects the exercise by TVIRD of the option extended to TVIRD in the HOA.
-Under the terms detailed in the HOA (as amended), TVIRD would commit to 100 percent of the required expenditures (approved by the applicable Management Committee) to enable the operation of a DSO project at Pan de Azucar with the intention of generating early cash flow for the PDADJV. Upon commencement of the DSO operation, TVIRD would earn a 60 percent interest in the PDADJV, subject to TVIRD having expended a minimum of C$2 million within 12 months of the date of execution and delivery of the definitive option and joint venture agreement for the PDADJV and DSO operations having commenced within 3 years of the date of the execution and delivery of the definitive option and joint venture agreement for the PDADJV.
-With respect to the PDAPJV (Processing), upon TVIRD having made expenditures on the Pan De Azucar Project of US$2 million, with C$1 million having been expended within 12 months and the full US$2 million having been expended within 24 months of the date of execution and delivery of the definitive option and joint venture agreement for the PDAPJV, TVIRD would earn a 51 percent interest in the PDAPJV. TVIRD will have an option to earn an additional 9 percent interest in the PDAPJV by spending an additional US$3 million on the project over a maximum of 24 months following the expiration of the initial 24 month period referred to above (which, if exercised, would result in TVIRD increasing its PDAPJV interest to 60 percent).
On Feb. 8, Mindoro announced a drill-defined Exploration Target for the Valderama pyritic massive-sulphide deposit, on its 75 percent interest Pan de Azucar Project, Iloilo Province, Philippines, of 8 million to 12.7 million dry metric tonnes (DMT) in a grade range of 35 percent to 40 percent sulphur (70 percent to 90 percent pyrite), 0.4 percent to 0.6 percent copper and 0.5 g/t to 0.7 g/t gold.
Mindoro Resources Ltd. (TSX VENTURE:MIO) (ASX:MDO) (FRANKFURT:OLM) ("Mindoro", the "Company") yesterday posted The Notice of Meeting, Management Information Circular and Proxy pertaining to the Special Shareholders Meeting to be held at 4pm on 9 October 2012 in Calgary, Alberta, Canada. The notice was filed on SEDAR and released to the ASX on 6 September 2012. Key resolutions include the approval by shareholders of the second tranche of the private placement involving TVI Pacific Inc. ("TVI") (see Mindoro release 6 July 2012 for pricing and conditions).
In addition, Mindoro, TVI and TVI Resource Development Phils., Inc. ("TVIRD") have agreed to amend the Heads of Agreement ("HOA") (see Mindoro release 6 July 2012) to reflect:
i. the further extension of the closing date for the first tranche of the
private placement to on, or before, 21 September, 2012. It is a
condition to closing the first tranche of the private placement that the
Agata and Pan De Azucar joint venture agreements contemplated in the HOA
(as amended) are finalised and executed. Good progress is being made
with respect to the negotiation and finalising of these joint venture
agreements.
ii. an amendment to the exclusive right of TVIRD to form a joint venture
relating to the Pan De Azucar Project to include the right to form a
Direct Shipping Ore ("DSO") Joint Venture ("PDADJV") as well as the
contemplated (in the HOA) Pan De Azucar Processing Joint Venture
("PDAPJV"), which effectively reflects the exercise by TVIRD of the
option extended to TVIRD in the HOA.
iii. Under the terms detailed in the HOA (as amended), TVIRD would commit to
100% of the required expenditures (approved by the applicable Management
Committee) to enable the operation of a DSO project at Pan de Azucar
with the intention of generating early cash flow for the PDADJV. Upon
commencement of the DSO operation, TVIRD would earn a 60% interest in
the PDADJV, subject to TVIRD having expended a minimum of C$2 million
within 12 months of the date of execution and delivery of the definitive
option and joint venture agreement for the PDADJV and DSO operations
having commenced within 3 years of the date of the execution and
delivery of the definitive option and joint venture agreement for the
PDADJV.
iv. With respect to the PDAPJV (Processing), upon TVIRD having made
expenditures on the Pan De Azucar Project of US$2 million, with C$1
million having been expended within 12 months and the full US$2 million
having been expended within 24 months of the date of execution and
delivery of the definitive option and joint venture agreement for the
PDAPJV, TVIRD would earn a 51% interest in the PDAPJV. TVIRD will have
an option to earn an additional 9% interest in the PDAPJV by spending an
additional US$3 million on the project over a maximum of 24 months
following the expiration of the initial 24 month period referred to
above (which, if exercised, would result in TVIRD increasing its PDAPJV
interest to 60%).
As background, on 8 February 2012 Mindoro announced a drill-defined Exploration Target for the Valderama pyritic massive-sulphide deposit, on its 75% interest Pan de Azucar Project, Iloilo Province, Philippines, of 8 million to 12.7 million dry metric tonnes (DMT) in a grade range of 35% to 40% sulphur (70% to 90% pyrite), 0.4% to 0.6% copper and 0.5 g/t to 0.7 g/t gold.
The reader is cautioned that the Valderama massive sulphide mineralization, located on the Pan de Azucar Mineral Production Sharing Agreement ("MPSA"), is currently an Exploration Target only. Detailed drilling will be required to convert the Exploration Target into NI 43-101-compliant resources. There is no guarantee that these resources, if delineated, will be economic or sufficient to support a commercial mining operation. Until a feasibility study has been completed there is no certainty that the Company's projections will be economically viable.
On behalf of the Board of Directors:
Jon Dugdale, President and CEO
About Mindoro Resources
Mindoro is a Tier 1 Issuer trading on the TSX Venture Exchange (MIO), Australian Securities Exchange (MDO) and Frankfurt Stock Exchange (WKN 906167). Mindoro is focused on nickel, gold and copper-gold exploration and development in the Philippines where its 75% interest PFS-stage (Nov 2011) Agata Nickel Project has NI 43-101 Mineral Resources that include Measured and Indicated resource estimates totalling 42.76 million tonnes at 1.01% nickel, for 430,000 tonnes contained nickel, and Inferred resource estimates totalling 2.435 million tonnes at 0.99% nickel (Sep 2011). In addition, the Company has NI 43-101 Mineral Resource estimates on its 100% interest Batangas projects (subject to the Red Mountain Mining Share Sale Agreement, detailed in the Mindoro release 23 July 2012) of Indicated Resources 393,000 ounces (Archangel, Indicated 9,879,000t @ 1.1 g/t Au and Lobo, Indicated 270,000t @ 6.49 g/t Au) and Inferred Resources 108,000 ounces (Archangel, Inferred 3,741,000t @ 0.8 g/t Au and Lobo, Inferred 61,000t @ 5.35 g/t Au); a drill-defined copper-gold-sulphur Exploration Target on its 75% interest Pan de Azucar project, Iloilo, as well as 10 key porphyry copper-gold prospects at varying stages of advancement.
The Company's development and production objectives are intended to provide an indication of management's current expectations and are still conceptual in nature. It is uncertain that sufficient resources will be established and if established that these resources will be converted into economically viable mining reserves. Until a feasibility study has been completed, there is no certainty that these objectives will be met. Mindoro's exploration programs are prepared and/or designed and carried out under the supervision of Tony Climie, P.Geo., who is a qualified person as defined by National Instrument 43-101 and is a competent person as defined by the JORC Code, and who has reviewed and verified the pertinent disclosure of exploration related technical information contained in this news release. The Company's resource estimates were originally prepared in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators ("NI 43-101") and the Canadian Institute of Mining, Metallurgy and Petroleum classification system. NI 43-101 is a rule developed by the Canadian Securities Administrators that governs how Canadian issuers disclose scientific and technical information about mineral projects. All resource information is also expressed in terms of the JORC Code. The information in this news release that relates to Exploration Results or Mineral Resources is based on information compiled by Jon Dugdale, who is a member of The Australasian Institute of Mining and Metallurgy. Jon Dugdale has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Jon Dugdale consents to the inclusion in the report of the matters based on the information in the form and context in which it appears.
This release may contain forward-looking statements including management's assessments of future plans and operations, and expectations of future production. These statements are based on current expectations that involve a number of risks and uncertainties, which could cause actual results to differ materially from those anticipated. These risks include, but are not limited to, the risks associated with the mining and exploration industry (e.g. operational risks in development, exploration and production; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of reserve estimates; the uncertainty with respect to results of exploration, the uncertainty of estimates and projections relating to production and the uncertainty of the availability of capital). The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company does not undertake to update forward-looking statements except where required to do so by law.
SOURCE: Mindoro Resources Ltd.
Australia:
Mindoro Resources Ltd.
Jon Dugdale
+61 3 9614 5055
ir@mindoro.com
www.mindoro.com
Canada:
CHF Investor Relations
Jeanny So
+1 416 868 1079 ext 225
CHF Investor Relations
Jeremy Hill
+1 416 868 1079 ext 238
Germany:
Aprendo Capital
Robert Sarcher
+49 821 6089051
TVI Pacific, Inc. announced that it has signed subscription agreements relating to its proposed purchase of voting shares and options of Foyson Resources Limited, an Australian Securities Exchange ("ASX") listed issuer, as contemplated by the Heads of Agreement (the "HOA"), dated August 17, which set out certain terms of various proposed transactions between the Corp. and Foyson.
As contemplated by the HOA, TVI said it has also entered into various joint venture (JV) agreements and option agreements with Foyson relating to mining properties in Papua New Guinea.
In a release on Aug. 28, TVI said the HOA provides for the acquisition by TVI (or a subsidiary or other affiliate of TVI) of an equity interest in Foyson, by way of private placement (undertaken in two tranches), subject to the receipt of all necessary regulatory approvals and the satisfaction or waiver of various other conditions.
TVI has signed a subscription agreement for the first tranche of the proposed private placement, which provides for the purchase by TVI of 68 million Shares, representing approximately 9.96 percent of Foyson's issued capital of 683,403,821, at a purchase price of A$0.013 per Share (A$884,000 in the aggregate).
Foyson is an Australian company engaged in mining exploration in Papua New Guinea.
TVI is a publicly-traded Canadian company focused on the production, development, exploration and acquisition of resource projects in the Philippines.
LIM Asia Multi-Strategy Fund Inc. and LIM Asia Special Situations Master Fund Limited, announced that they have sold on the TSX 921,000 common shares of TVI Pacific Inc.
As a result of the sale, LIM currently owns 62,183,356 common shares in the capital of the Company, which represents approximately 9.995 percent of the Company's issued and outstanding shares on a diluted basis as of today's date.
TVI Pacific Inc. ("TVI" or the "Corporation") (TSX: TVI) (OTCQX: TVIPF) announced today that it has signed subscription agreements relating to its proposed purchase of voting shares ("Shares") and options of Foyson Resources Limited ("Foyson"), an Australian Securities Exchange ("ASX") listed issuer (ASX: FOY), as contemplated by the Heads of Agreement (the "HOA"), dated August 17, 2012, which set out certain terms of various proposed transactions between the Corporation and Foyson. As contemplated by the HOA, TVI has also entered into various joint venture agreements and option agreements with Foyson relating to mining properties in Papua New Guinea. Information concerning the various transactions provided for in the HOA was disseminated on August 19, 2012 by TVI, in its news release entitled "TVI Pacific Inc. Announces Joint Venture Opportunities and Proposed Investment in Foyson Resources Limited".
Private Placement
The HOA provides for the acquisition by TVI (or a wholly-owned subsidiary or other affiliate of TVI) of an equity interest in Foyson, by way of private placement (undertaken in two tranches), subject to the receipt of all necessary regulatory approvals and the satisfaction or waiver of various other conditions.
TVI has signed a subscription agreement for the first tranche of the proposed private placement ("Tranche 1"), which provides for the purchase by TVI of 68 million Shares, representing approximately 9.96% of Foyson's issued capital of 683,403,821, at a purchase price of A$0.013 per Share (A$884,000 in the aggregate).
TVI has also signed the following agreements relating to the joint venture projects contemplated by the HOA: an Amazon Bay Iron Sands Project Joint Venture Agreement, an Amazon Bay Royalty Agreement, a New Britain Gold/Copper Joint Venture Agreement, a Massau and Tanga Island Option Agreement and a New Ireland Option Agreement. With the signing of the subscription agreement for Tranche 1 and the foregoing joint venture related agreements, the exclusive due diligence period provided to TVI under the HOA has been extended to October 8, 2012. The Amazon Bay and New Britain joint venture agreements provide that (i) TVI will refund to Foyson any expenditures incurred by Foyson in respect of the Amazon Bay and New Britain projects since 1 July 2012, up to a maximum of A$200,000 for each project and (ii) any such funds will be credited against TVI's spending commitments in relation to each of the relevant joint ventures. Additional information concerning the Papua New Guinea joint venture projects was outlined in TVI's August 19, 2012 news release, entitled "TVI Pacific Inc. Announces Joint Venture Opportunities and Proposed Investment in Foyson Resources Limited".
Foyson has agreed to convene a meeting of its shareholders (i) to ratify the issuance of the 68 million Shares included in the Tranche 1 private placement, (ii) to ratify and approve the acquisition and exercise of an option (the "AB Option") to acquire the balance of the shares of Titan Mines Limited (the Company through which mining interests at the Amazon Bay project in Papua New Guinea are held) not already owned by Foyson, and (iii) to approve the terms of a shareholder agreement among the shareholders of Titan Mines Limited, with that meeting scheduled to be not later than October 8, 2012.
TVI Pacific has also signed a subscription agreement for the second tranche of the proposed private placement ("Tranche 2"), which contemplates the purchase by TVI of an additional 160 million Shares (at an aggregate purchase price of A$2.4 million) and options (the "Options") to purchase up to an additional 140 million Shares (at an exercise price of A$0.03 per Share), exercisable until June 30, 2015. The subscription agreement for Tranche 2 provides that TVI has the right (but not the obligation) to purchase the Tranche 2 securities by giving written notice to Foyson in that regard prior to the close of business (Sydney, Australia time) on Tuesday, October 9, 2012. Under the subscription agreement for Tranche 2, the sale of Shares and Options to TVI is subject to certain conditions, including completion of satisfactory due diligence by TVI and receipt of Foyson shareholder approval (to be sought at a second Foyson shareholder meeting).
If TVI gives notice of its intention to acquire securities in connection with Tranche 2 by October 9, 2012, the exclusive due diligence period provided to TVI (as contemplated by the HOA) will be extended to November 30, 2012. The subscription agreement for Tranche 1 provides that if resolutions in relation to the Foyson Amazon Bay arrangements (and certain other matters) are not passed at the first Foyson shareholder meeting or a further condition relating to the extension of an exploration license covering the Amazon Bay tenements in Papua New Guinea is not received on or before October 8, 2012, Foyson will be obligated to pay TVI A$204,000, which payment will have the effect of reducing the effective price at which the Tranche 1 Shares are issued to A$0.01 per Share.
Under the subscription agreement for Tranche 1, TVI has the right to appoint a nominee to serve as one of five members of the board of directors of Foyson. The subscription agreement for Tranche 2 provides that TVI will, following its purchase of Foyson securities in connection with Tranche 2, have the right to appoint an additional nominee to serve as the second TVI nominee of a five-member Foyson board.
About Foyson
Foyson is an Australian company engaged in mining exploration in Papua New Guinea. The common shares of Foyson are listed on the Australian Securities Exchange. Foyson trades under the symbol FOY on the ASX. A copy of Foyson's announcement can be accessed on Foyson's website www.milresources.com.
About TVI
TVI is a publicly-traded Canadian company focused on the production, development, exploration and acquisition of resource projects in the Philippines. The Corporation's affiliate, TVI Resources Development Phils., Inc., produces copper and zinc concentrates from its Canatuan mine. TVI also has an indirect interest in an offshore Philippine oil property.
Connect with us www.tvipacific.com
Follow us on Twitter www.twitter.com/tvipacific
"Like" us at www.facebook.com/tvipacific
Forward Looking Statements
This news release contains certain forward-looking information (referred to herein as "forward-looking statements") within the meaning of applicable Canadian securities laws. Forward-looking statements are often, but not always, identified by the use of words such as "anticipate", "plan", "intend", "estimate", "scheduled", "expect", "may", "will", "should", or similar words suggesting future activities or outcomes. The forward-looking statements set out in this news release include information relating to proposed transactions involving Foyson. Forward-looking statements relating to the proposed transactions involving Foyson are based upon the terms and conditions set out in the HOA and the subscription agreements and joint venture related agreements noted above.
Forward-looking statements are subject to certain risks and uncertainties that could cause actual events or outcomes to differ materially from those anticipated or implied by such forward-looking statements. With respect to the proposed transactions involving Foyson, those risks and uncertainties include a failure to close one or more of the proposed transactions on the terms outlined in this news release due to renegotiation of those terms by the parties prior to closing, or a failure to satisfy one or more conditions, such as conditions relating to the receipt of any necessary regulatory approvals and satisfactory completion by TVI of its due diligence investigations. Accordingly, readers should not place undue reliance upon the forward-looking statements contained in this news release and such forward-looking statements should not be interpreted or regarded as guarantees of future outcomes.
The forward-looking statements contained in this news release are made as of the date hereof and TVI does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, except as required by applicable Canadian securities law. The forward-looking statements contained herein are expressly qualified by this cautionary statement.
The Toronto Stock Exchange has neither approved nor disapproved of the information contained herein.
Contacts:
TVI Pacific Inc.
Raina Vitanov
Vice President, Investor & Corporate Relations
403.265.4356
raina.vitanov@tvipacific.com
TVI Pacific Inc.
Laureen Dukart
Investor Relations Coordinator
403.265.4356
laureen.dukart@tvipacific.com
www.tvipacific.co
I know, I ment when it became ARNH, before the R/S. I'm not in now, I just trade when I can. Still set to buy @ .0002 though. GLTY
Yes, its to bad, I had high hopes in the beginning.
Ya, its the same as early July. IMO
Could be, but I'm not going to chase it. GLTY
InsideBulls.com Profiles The Best Penny Stock Picks: (Pinksheets: ARNH), (OTCQB: FSNN), (OTCQB: PRTN), (OTCQB: ECOB) Could be a pump from them. Dont know.
20000 @ .0009 followed by 1,125,000 @.0006
Yes, one buy of 5000 @ .0009 and another 1535 @ .0009. So far
RTRAF is trading above its 10 week simple moving average.
AVGCF is trading above its 10 week simple moving average. The moving average is rising also.
EDVMF's MACD is currently indicating a weak bullish signal.
AQARF is trading above its 10 week simple moving average.
Well, I've had a small amount with a .0002 bid for a few days. I'll leave it there for a while. At least until I know what is happening. GLTY
18m shares and it hit .0007 ?
Share Structure
Market Value1 $482,644,849 a/o Sep 11, 2012
Shares Outstanding 503,279,300 a/o Jun 30, 2011
ROMARCO ANNOUNCES 2012 SECOND QUARTER RESULTS 07/31/2012
Download this Press Release
TORONTO, July 31, 2012 /CNW/ - ROMARCO MINERALS INC. (TSX: R) (the "Company") is pleased to announce that it has released its results for the second quarter ended June 30, 2012. The Company's 2012 second quarter financial statements and MD&A are available on SEDAR at www.sedar.com and on the Company's website at www.romarco.com. All dollar amounts in this news release are expressed in U.S. dollars, unless otherwise noted.
Highlights from the results include:
•Cash balance at June 30, 2012 was $83.6 million.
•Received Environmental Impact Statement ("EIS") schedule from the US Army Corps of Engineers ("Corps") pertaining to the Federal 404 Wetlands permit.
?Extended key contracts to re-align equipment deliveries and payments for the development of Haile Gold Mine.
?Extended Financial Adviser mandate with Barclay Bank PLC with the aim of securing project debt financing for a significant portion of the funds to construct and commission Haile Gold Mine's future mining and processing operations.
•The Company modified its mine facilities layout to avoid direct impacts to a significant amount of wetlands and streams.
•Reduced 2012 exploration drilling in an on-going effort to conserve cash.
•Increased controlled land position to 11,258 acres (4,556 hectares).
•Detailed project engineering was approximately 51% complete at June 30, 2012.
•Reported $3.1 million ($0.01 per share) net loss for the three months ended June 30, 2012.
About Romarco Minerals Inc.
Romarco Minerals Inc. is a gold development company engaged in the acquisition, exploration and development of precious metals mineral properties. The Company has completed a positive Feasibility study and is continuing exploration and permitting for its flagship project, the Haile Gold Mine in South Carolina.
TRADING SYMBOL: TSX: R
.
ROMARCO RECEIVES EIS SCHEDULE FROM US ARMY CORPS 05/23/2012
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TORONTO, May 23, 2012 /CNW Telbec/ - ROMARCO MINERALS INC. (TSX: R) (the "Company") has received a schedule from the US Army Corps of Engineers ("Corps") for completing the Environmental Impact Statement ("EIS") for the Federal 404 Wetlands permit. The schedule is as follows:
•Draft EIS filed - December 14, 2012
•Draft EIS comment period begins - December 14, 2012
•Draft EIS Public Hearing - January 29, 2013
•Draft EIS comment period ends - February 28, 2013
•Final EIS made available to public - July 19, 2013
•Record of Decision on permit to be made - August 16, 2013
Diane Garrett, President & CEO commented: " While the Corps' schedule for completing the EIS and issuing its Record of Decision is longer than we have been targeting, that schedule provides clarity for our planning. We will continue to advance detailed design and engineering for the project, adjust equipment orders to align with the Corps' schedule, and diligently manage our cash as we advance one of the best undeveloped gold deposits in the world."
The Federal 404 Wetlands permit is the only Federal permit Romarco requires for the Haile project. The Corps is the federal agency regulating 404 permits. Other pending permits include, but are not limited to, the State 401 Water Quality Certification and the State Mine Operating permit; the regulating agency for these permits is the South Carolina Department of Health and Environmental Control ("DHEC"). DHEC has indicated that it will schedule its public hearing for the State permits following the filing of the Draft EIS by the Corps.
Conference call
There will be "EIS Conference Call" presentation slides available for download on the homepage of the Company's website www.romarco.com prior to the call.
The Company will hold a conference call on May 23, 2012 at 9:00 am EDT where senior management will provide an update on the Haile Gold Mine project status including a discussion of the EIS schedule provided by the Corps. Senior management will also respond to questions from analysts and investors.
To join the call:
•In Canada and the United States - 1-888-231-8192
•International - 647-427-7451
The conference call will be recorded and playback will be available after the event by dialing toll free in Canada and the United States 1-855-859-2056 or locally 416-849-0833, passcode 84216346# (available up to June 5, 2012).
About Romarco Minerals Inc.
Romarco Minerals Inc. is a gold development company focused on production primarily in the US. The Company has completed a positive Feasibility study and is continuing exploration drilling and permitting for its flagship project, the Haile Gold Mine in South Carolina.
ROMARCO ANNOUNCES 2012 FIRST QUARTER RESULTS 05/07/2012
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TORONTO, May 7, 2012 /CNW Telbec/ - ROMARCO MINERALS INC. (TSX: R) (the "Company") is pleased to announce that it has released its results for the first quarter ended March 31, 2012. The Company's 2012 first quarter financial statements and MD&A are available on SEDAR at www.sedar.com and on the Company's website at www.romarco.com All dollar amounts in this news release are expressed in U.S. dollars, unless otherwise noted.
Highlights from the results include:
•Cash balance at March 31, 2012 was $98.5 million.
•On February 7, 2012, the Company announced an updated mineral resource estimate containing 71.2 million tonnes at 1.77 g/t for 4.0 million gold ounces of measured and indicated material, with an additional 20.1 million tonnes at 1.24 g/t for 0.8 million gold ounces of inferred material.
•Announced 2012 drill program of 85,000 meters and budget of $12 million. The 2012 program will be drilled with the five company-owned rigs and is expected to produce a cash savings of approximately $17 million over the 2011 program.
?Drilled approximately 23,900 meters during the first quarter of 2012, of which 44% was exploration at Haile, 26% was condemnation at Haile and 30% was regional exploration.
¦Provided drill results for initial holes on first phase of drilling at three regional properties.
¦Provided on-going drill results at Haile.
•Mr. Gary Sugar joined the Board of Directors.
•Reported $3.5 million net loss for the three months ended March 31, 2012.
•Increased controlled land position by 84 acres (34 hectares) to 11,138 acres (4,507 hectares). The Company controls approximately 11,271 acres (4,561 hectares) at May 4, 2012.
•Detailed project engineering was approximately 44% complete at March 31, 2012.
The resource calculations were completed by Independent Mining Consultants of Tucson, Arizona under the direction of Mr. John Marek, PE, an independent Qualified Person ("Q.P.") pursuant to NI 43-101.
For additional information on the Company's sampling, analysis, and Quality Assurance and Quality Control ("QA/QC"), please see the Company's most recent Annual Information Form ("AIF") filed March 19, 2012 on SEDAR. Romarco's Qualified Person under NI 43-101 is James M. Berry , P.G., Chief Geologist at Haile. Mr. Berry has reviewed and approved this news release.
About Romarco Minerals Inc.
Romarco Minerals Inc. is a gold development company engaged in the acquisition, exploration and development of precious metals mineral properties. The Company has completed a positive Feasibility study and is continuing exploration and permitting for its flagship project, the Haile Gold Mine in South Carolina.
Please note:
This entire press release may be accessed via fax, e-mail, Romarco's website at www.romarco.com and through CNW Group's website at www.newswire.ca. All material information on Romarco Minerals Inc. can be found at www.sedar.com.
ROMARCO DRILLS 13.5 METERS OF 42.4 G/T GOLD AT NORTH MUSTANG AND 55.0 METERS OF 6.8 G/T GOLD AT PALOMINO 04/11/2012
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TORONTO, April 11, 2012 /CNW Telbec/ - ROMARCO MINERALS INC. (TSX: R) (the "Company") is pleased to provide an update of recent assay results from the on-going drill program at its 100%-owned Haile Gold Mine project in South Carolina and its regional projects in the Carolinas. The results continue to demonstrate the sustained growth and continuity of the mineralized system at Haile. Highlighted holes include:
North Mustang:
•RCT-161, located approximately 135 meters north of Mustang, intersected 13.5 meters of 42.4 g/t gold, including 1.5 meters of 318.5 g/t gold;
•RCT-167 encountered 33.5 meters of 4.6 g/t gold, located 164 meters northwest of RCT-161 and approximately 60 meters east of RC-2058 (21.3 meters of 4.9 g/t gold - see January 20, 2012 news release);
Palomino:
•RCT-168 intersected 55.0 meters of 6.8 g/t gold, 72 meters east of RCT-129 (70.1 meters of 5.5 g/t gold - see November 1, 2011 press release) and 62 meters southwest of RCT-139 (84.7 meters of 3.4 g/t gold - see January 20, 2012 news release);
•RCT-172 encountered 21.3 meters of 4.1 g/t gold, beginning at 154 meters down-hole and located 81 meters northeast of RCT-143 (22.9 meters at 3.9 g/t gold - see January 20, 2012 news release);
Exploration is continuing throughout the Haile system and at regional properties. Drilling at Haile continues to extend and expand the deeper mineralized zones. Recent results indicate a possible extension of Mustang to the north and continuity of mineralized material at Palomino. The latest exploration also points to continuity between Snake and Horseshoe: DDH-431 intersected 25.9 meters of 1.4 g/t gold, 44 meters west of DDH-418 (41.1 meters of 8.4 g/t gold, see January 20, 2012 news release), and DDH-432 encountered 32.2 meters of 2.2 g/t gold, 37 meters west of DDH-431. While performing geotechnical drilling to assess the potential for underground mining, RCT - 122 at Horseshoe, drilled within known mineralization, encountered 92.0 meters of 7.1 g/t gold including 10.1 meters of 28.9 g/t gold, which further supports the existing resource.
Phase two exploration programs consisting of 17 holes at the Company's Hickory property in North Carolina and 11 holes at the Bayberry property in South Carolina are underway. A phase two exploration program consisting of 8 holes was recently completed at the Company's Ironwood property in North Carolina. A table of selected drill results from Haile and regional properties is included in the Appendix.
Plan view maps are available on the Company's website: www.romarco.com
Sample Procedure
Drilling is being performed by Romarco's company-owned drills (4 core, 1 reverse circulation). Drill samples are prepared by either Acme Labs (formerly AHK Geochem) at their facility in Spartanburg, SC, or at the Company's wholly owned Kershaw Mineral Laboratories in Kershaw, SC. All reported mineralization has been confirmed by independent laboratory assays completed in Vancouver, British Columbia by Acme Labs or in Reno, Nevada by ALS Chemex. Blank samples and third party standards are inserted at random for submittal with all of the drill samples. The results of the control samples are within acceptable ranges. Periodic duplicate and check samples are analyzed by ALS Chemex in Reno, NV. For additional information on the Company's sampling, analysis, and Quality Assurance and Quality Control ("QA/QC"), please see the Company's most recent Annual Information Form ("AIF") filed March 19, 2012 on SEDAR. Romarco's Qualified Person under NI 43-101 is James M. Berry , P.G., Chief Geologist at Haile. Mr. Berry has reviewed and approved this news release.
About Romarco Minerals Inc.
Romarco Minerals Inc. is a gold development company focused on production primarily in the US. The Company has completed a positive Feasibility study and is continuing exploration drilling and permitting for its flagship project, the Haile Gold Mine in South Carolina.
Please note:
This entire press release may be accessed via fax, e-mail, Romarco's website at www.romarco.com and through CNW Group's website at www.newswire.ca. All material information on Romarco Minerals Inc. can be found at www.sedar.com
Appendix
Table of Selected Drill Holes
Hole Azimuth Angle Interval
(meters) From
(meters) To
(meters) Gold
(g/t)
HAILE
Champion
DDH-433 142 -55
Interval 1.5 93.0 94.5 3.8
Interval 3.0 208.8 211.8 0.7
DDH-438 163 -60
Interval 4.6 39.6 44.2 1.2
Interval 10.7 187.4 198.1 0.9
Interval 10.7 441.9 452.6 2.0
Including 3.0 449.6 452.6 4.3
DDH-452 163 -70
Interval 6.1 327.7 333.8 3.0
601 Zone
DDH-412 160 -53
Interval 3.4 54.8 58.2 0.6
Interval 13.7 68.6 82.3 0.6
Interval 6.1 93.0 99.1 0.8
Interval 3.0 111.3 114.3 0.7
DDH-448 165 -53
Interval 6.0 44.2 50.2 0.8
Interval 3.0 61.0 64.0 0.6
Interval 14.4 67.9 82.3 0.7
Mill Zone
RC-2091 136 -74
Interval 4.6 18.3 22.9 0.6
Interval 3.0 42.7 45.7 1.0
Interval 1.5 176.8 178.3 5.8
Interval 6.1 214.9 221.0 1.0
RC-2098 158 -61
Interval 7.6 33.5 41.1 0.7
Interval 3.0 44.2 47.2 0.8
Interval 4.6 205.7 210.3 1.6
Interval 3.0 265.2 268.2 1.1
North Small
DDH-446 162 -64
Interval 16.8 452.6 469.4 0.8
Interval 3.0 525.8 528.8 1.6
North Mustang 142 -73
RC-2105
Interval 24.4 379.5 403.9 2.0
Including 7.6 381.0 388.6 2.8
Interval 3.0 420.6 423.6 1.0
RC-2108 143 -74
Interval 10.7 391.7 402.4 1.6
Including 1.5 399.3 400.8 6.2
RCT-161 155 -51
Interval 13.5 428.5 442.0 42.4
Including 1.5 429.8 431.3 318.5
RCT-167 163 -64
Interval 33.5 410.0 443.5 4.6
Including 12.2 420.6 432.8 8.1
Mustang
DDH-436 227 -73
Interval 4.4 160.2 164.6 1.4
Interval 3.5 316.5 320.0 1.2
RCT-134 139 -49
Interval 1.5 70.1 71.6 1.0
Interval 13.7 431.3 445.0 2.1
Palomino
RCT-131 193 -75
Interval 4.6 126.5 131.1 1.8
Interval 3.0 260.6 263.6 1.0
Interval 13.7 266.7 280.4 1.2
Interval 3.0 303.3 306.3 1.0
Interval 3.0 313.9 316.9 1.2
Interval 4.6 358.1 362.7 0.9
Interval 9.1 368.8 377.9 0.6
RCT-140 145 -63
Interval 37.5 416.7 454.2 1.2
Interval 1.7 461.2 462.9 6.2
Interval 26.0 466.3 492.3 1.6
Interval 2.0 506.9 508.9 3.0
RCT-153 006 -80
Interval 12.2 339.9 352.1 3.6
RCT-168 142 -77
Interval 9.1 131.1 140.2 1.2
Interval 6.1 286.5 292.6 0.8
Interval 9.1 314.0 323.1 2.3
Interval 7.6 326.2 333.8 2.7
Interval 55.0 342.9 397.9 6.8
Interval 7.9 402.1 410.0 4.6
RCT-169 155 -78
Interval 1.5 97.5 99.0 1.3
Interval 3.0 240.8 243.8 0.7
Interval 19.9 414.1 434.0 2.3
Including 7.4 416.1 423.5 4.1
Interval 16.8 464.8 481.6 2.9
Including 2.3 464.8 467.1 9.5
RCT-171 161 -78
Interval 3.4 161.5 164.9 0.5
Interval 21.3 178.3 199.6 1.8
Interval 1.5 291.1 292.6 2.7
Interval 4.6 320.0 324.6 1.9
Interval 13.7 338.3 352.0 0.9
Interval 6.8 356.6 363.4 1.2
Interval 49.1 431.3 480.4 1.9
Including 6.7 448.1 454.8 3.7
Interval 9.1 492.3 501.4 0.9
Interval 9.4 505.7 515.1 5.8
RCT-172 151 -81
Interval 0.8 126.5 127.3 7.2
Interval 3.0 140.2 143.2 0.5
Interval 21.3 153.9 175.2 4.1
Interval 8.7 180.3 189.0 0.6
Interval 19.9 199.6 219.5 2.6
Interval 4.0 236.8 240.8 2.4
Interval 2.7 268.3 271.0 6.1
Interval 7.6 274.3 281.9 1.7
Interval 15.8 564.9 580.7 3.7
Including 3.0 568.5 571.5 11.3
Interval 4.8 644.4 649.2 3.3
Snake
DDH-429 146 -56
Interval 3.0 399.3 402.3 4.6
RCT-145 154 -75
Interval 7.6 506.0 513.6 0.9
Interval 7.6 516.6 524.2 1.4
RCT-165 151 -59
Interval 4.4 336.8 341.2 5.4
Interval 6.1 685.8 691.9 7.0
Interval 0.9 694.3 695.2 5.1
Interval 10.2 698.5 708.7 2.3
Including 3.0 704.1 707.1 4.5
Snake/Horseshoe
DDH-431 146 -53
Interval 6.1 169.2 175.3 1.5
Interval 25.9 179.8 205.7 1.4
DDH-432 167 -54
Interval 32.2 162.9 195.1 2.2
Horseshoe
RCT-122 005 -66
Interval 6.1 158.5 164.6 0.6
Interval 16.8 179.8 196.6 12.7
Including 7.0 182.0 189.0 27.8
Interval 9.1 260.6 269.7 1.5
Interval 22.9 283.4 306.3 7.6
Interval 92.0 308.8 400.8 7.1
Including 10.1 321.2 331.3 28.9
RCT-146 186 -80
Interval 3.0 493.8 496.8 1.2
Interval 12.2 507.5 519.7 0.9
North Horseshoe
RCT-152 144 -77
Interval 4.6 326.1 330.7 1.3
Interval 8.7 455.5 464.2 1.5
REGIONAL
Bayberry
DDH-441 150 -55
Interval 16.0 277.4 293.4 1.1
DDH-442 140 -64
Interval 1.2 152.7 153.9 5.5
Interval 1.5 163.1 164.6 1.2
RC-2104 155 -60
Interval 7.6 269.8 277.4 0.9
Interval 4.6 280.4 285.0 1.1
Interval 16.8 288.0 304.8 0.9
RC-2114 154 -54
Interval 3.0 225.6 228.6 1.2
RC-2118 0 -90
Interval 1.5 3.1 4.6 0.6
Hickory
HKDH-11-007 113 -74
Interval 1.5 2.1 3.6 0.5
Interval 1.9 32.9 34.8 1.4
HKDH-11-010 134 -50
Interval 4.6 27.4 32.0 1.0
Interval 1.5 36.6 38.1 0.6
Interval 4.6 45.7 50.3 0.5
Interval 1.5 57.9 59.4 0.9
Interval 1.1 79.6 80.7 1.3
HKDH-11-016 131 -65
Interval 3.4 0.0 3.4 0.8
Interval 13.3 31.2 44.5 1.0
HKDH-11-018 134 -58
Interval 7.3 90.2 97.5 0.6
Interval 1.5 112.8 114.3 2.5
Interval 1.5 129.9 131.4 1.3
HKDH-12-020 132 -54
Interval 1.5 96.0 97.5 0.4
HKDH-12-021 136 -60
Interval 3.0 6.4 9.4 3.0
HKDH-12-022 0 -90
Interval 4.6 12.8 17.4 0.8
Interval 1.3 33.5 34.8 11.1
Ironwood
IWDH-11-001 141 -60
Interval 3.4 23.1 26.5 0.8
Interval 1.5 30.8 32.3 0.6
IWDH-11-002 143 -60
Interval 6.4 74.7 81.1 0.6
ROMARCO ANNOUNCES 2012 DRILL PROGRAM 02/24/2012
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TORONTO, Feb. 24, 2012 /CNW Telbec/ - ROMARCO MINERALS INC. (TSX: R) (the "Company") is pleased to provide an outline of its planned 2012 drill campaign based on the positive results from the 2011 exploration program.
The Company's drilling program for 2011 was successful on several fronts: The areas needed for condemnation were completed, much of the mineralization previously classified as inferred resource was upgraded to measured and indicated resource classifications, mineral resources at Haile increased significantly, and regional exploration away from Haile encountered ore-grade mineralization.
With the information gained in 2011, the Company conducted a comprehensive review of its exploration drilling priorities and considered the following:
•2012 drill targets will predominately focus on step-out, greenfields exploration and deep drilling which is more cost effective with core drilling
•Increased need for core drilling relative to reverse circulation drilling
•Cost efficiencies of conducting its exploration program with five Company-owned rigs
?Contract core drilling cost were US$55 per foot versus Romarco-owned core rigs cost of US$26 per foot
•Substantial completion of condemnation drilling needed for developing Haile
As a result of this review and being conscious of cash conservation in current market conditions, the Company's 2012 exploration and development drilling plan will be conducted with five Company-owned rigs (four core and one reverse circulation). This program will yield a cash savings of approximately US$17 million over the 2011 drill plan and deliver 85,000 meters of exploration drilling in highly prospective areas. The proposed budget for the 2012 drill program is approximately US$12 million. The Company believes that contractor drills can be re-mobilized and additional company rigs can be acquired if warranted by exploration success. The structural information gained from core versus reverse circulation drilling should lead to improved step-out targeting.
The exploration drill plan for 2012 comprises of:
1) Step-out drilling along strike and at depth to expand the overall mineralized footprint at Haile
2) Continued regional exploration drilling in the Carolinas
3) In-fill drilling focused within the permit area on targets with the highest likelihood of converting existing resources into reserves.
Diane Garrett, President and CEO stated: "With the success of the 2011 drill program and the need to drill deeper zones and step-out along strike to areas with little drill data, we are mostly focusing on core drilling. Drilling with our Company-owned rigs allows us to maintain a sustainable exploration program and accomplish all our exploration objectives while prudently managing cash resources."
The Company continues to actively pursue strategic property on trend with Haile as well as land positions regionally with favourable geology and, in some cases, historical drilling or mining information.
About Romarco Minerals Inc.
Romarco Minerals Inc. is a gold development company focused on production primarily in the US. The Company has completed a positive Feasibility study and is continuing exploration drilling and permitting for its flagship project, the Haile Gold Mine in South Carolina.
ROMARCO FILES TECHNICAL REPORT 03/19/2012
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TORONTO, March 19, 2012 /CNW Telbec/ - ROMARCO MINERALS INC. (TSX: R) (the "Company") confirms that it has filed on SEDAR a Technical Report dated March 13, 2012, and titled "Haile Gold Mine Project, Lancaster County, South Carolina", as referenced in Romarco's news release of February 7, 2012. The Technical Report was prepared in compliance with National Instrument ("NI") 43-101: Standards of Disclosure for Mineral Projects. The report will also be available on Romarco's website: www.romarco.com
Qualified Persons
The resource and reserve calculations in the Technical Report were completed by Independent Mining Consultants of Tucson, Arizona under the direction of Mr. John Marek, PE, an independent Qualified Person ("Q.P.") pursuant to NI 43-101. The underground mining methods and production costs and underground stope layouts were completed by Snowden Mining Industry Consultants of Vancouver, BC, under the direction of Mr. Anthony Finch P. Eng MAusIMM (CP Min) (Divisional Manager - Snowden), an independent Q.P. pursuant to NI 43-101. M3 Engineering & Technology Corp. completed the NI 43-101 Technical Report under the direction of Mr. Joshua Snider, PE, and independent Q.P. pursuant to NI 43-101. All Q.P. individuals have reviewed and approved the Technical Report.
The mineral resource estimate was calculated using the Canadian Institute of Mining, Metallurgy and Petroleum ("CIM") Definitions Standards for mineral resources in accordance with NI 43-101 - Standards of Disclosure for Mineral Projects.
About Romarco Minerals Inc.
Romarco Minerals Inc. is a gold development company focused on production primarily in the US. The Company has completed a positive Feasibility study and is continuing exploration drilling and permitting for its flagship project, the Haile Gold Mine in South Carolina.
Please note:
This entire press release may be accessed via fax, e-mail, Romarco's website at www.romarco.com and through CNW Group's website at www.newswire.ca. All material information on Romarco Minerals Inc. can be found at www.sedar.com
.Romarco Minerals Inc. is a public company, headquartered in Toronto, Canada, listed on the Toronto Stock Exchange under the symbol “R”
The official websites of the Haile Gold Mine in Kershaw, SC are www.hailegoldmine.com and www.romarco.com
Copyright © Romarco Minerals Inc. 2010 - All right Reserved - Disclaimer »
Top Ubika Gold 50 market value gainers for the week of (August 6th - August 10th 2012) include: Avion Gold Corp. (TSX: AVR) (TSE: AVR) and Romarco Minerals Inc. (TSX: R) (TSE: R) among others.
Endeavour Mining Corporation ("Endeavour") (TSX:EDV) (ASX:EVR) (OTCQX:EDVMF) today announces drill results from the ongoing near-mine exploration program on its Agbaou gold deposit in Côte d'Ivoire. Exploration success is indicating further upside beyond the current mineral resources and reserves. Agbaou mine construction remains on track to begin production in Q1 2014.
Project Construction
Endeavour recently announced receipt of the official decree from the government of Côte d'Ivoire granting its Ivorian subsidiary the Mining Permit for its 85%-owned Agbaou Gold Project. There are no other permits required for construction and production at the Agbaou Gold Project. Long-lead items for Agbaou construction such as mills, transformers and electrical lines have already been ordered. More recently, ground clearing and crop compensation have begun in preparation for commencement of earthworks expected later this month.
Exploration Results
Exploration drilling has focused on delineating the targets identified during condemnation drilling and on extensions to the principal mineralized zones in the Main and South pit areas (News Releases dated August 3, 2011 and September 12, 2011). The intercepts are shallow; all assays are at depths of less than 100m with a majority of the intersections at depths of less than 60m.
Highlights of the exploration drilling program at Agbaou include (Table 1);
P2 AGBRC1095 with 7m @ 5.0g/t including 1m @ 28.0g/t gold
AGBRC1142 with 10m @ 2.4g/t including 2m @ 6.1g/t gold
P4 AGBRC1168 with 9m @ 4.2g/t including 4m @ 8.4g/t gold
AGBRC1186 with 3m @ 7.5g/t
AGBRC1187 with 4m @ 6.1g/t, including 2m @ 9.7g/t, and 8m @ 2.6
g/t gold
P6 AGBRC1160 with 15m @ 5.6g/t including 6m @ 8.2g/t gold
MPN AGBRC1237 with 4m @ 13.4g/t including 2m @ 24.7g/t gold
AGBRC1238 with 7m @ 4.0g/t including 2m @ 12.5g/t gold
In order to access Figure 1: (Plan Map of the Agbaou Exploration Target Areas) click on the following URL: http://files.newswire.ca/910/Figure_1_Sept_6.pdf
Gérard De Hert, VP Exploration, stated:
"We are pleased with the ongoing success of this drilling program, which is aimed at increasing the mine life at Agbaou prior to commencing production in early 2014. The results on the P2 and P9* targets support the interpretation of southern extensions from the mineralization in the Main and South pits while drilling around the West Pit and on the P5 and P6 targets has supported the extension of that deposit to the southwest and northeast. We are also testing the down dip potential below the current pit limits in several areas using core drilling."
*P9 results were reported in June 11, 2012 news release, including 6m of 2.02 g/t gold.
Resource Estimate
An updated resource estimation will be completed once the assays from the recent core drilling are available. Agbaou currently has a Measured and Indicated resource of 1.157 million ounces gold comprised of 6.262 million tonnes at 2.2 g/t (438,200 ounces gold) Measured and 8.708 million tonnes at 2.6 g/t (718,500 ounces gold) Indicated (at a 0.5 gram per tonne ("g/t") cut-off, SRK May 2012). A further 1.473 million tonnes at 1.5 g/t (72,900 ounces gold) is in the Inferred category.
Table 1: Agbaou Exploration Drilling Highlights by Target Area
__________________________________________________________________
| | | From | To | Length | True | Au Grade | Final|
|Target | Hole ID | (m) | (m) | (m) |Width | (g/t) |Depth |
| | | | | | (m) | | (m) |
|_______|_________|______|_______|________|______|__________|______|
| |AGBRC1125| 26| 37| 11| 8.8| 1.46| 60|
| |_________|______|_______|________|______|__________|______|
| |including| 30| 31| 1| 0.8| 6.10| |
| P1 |_________|______|_______|________|______|__________|______|
| |AGBRC1126| 54| 58| 4| 3.2| 2.08| 78|
| |_________|______|_______|________|______|__________|______|
| |including| 54| 55| 1| 0.8| 4.31| |
|_______|_________|______|_______|________|______|__________|______|
| |AGBRC1095| 55| 62| 7| *| 4.96| 104|
| |_________|______|_______|________|______|__________|______|
| |including| 60| 61| 1| *| 27.97| |
| |_________|______|_______|________|______|__________|______|
| |AGBRC1104| 86| 94| 8| *| 1.19| 96|
| |_________|______|_______|________|______|__________|______|
| |including| 91| 92| 1| *| 4.89| |
| |_________|______|_______|________|______|__________|______|
| |AGBRC1140| 50| 59| 9| *| 1.52| 63|
| |_________|______|_______|________|______|__________|______|
| P2 |including| 55| 56| 1| *| 6.19| |
| |_________|______|_______|________|______|__________|______|
| |AGBRC1313| 0| 16| 16| *| 0.99| 52|
| |_________|______|_______|________|______|__________|______|
| |including| 10| 11| 1| *| 2.03| |
| |_________|______|_______|________|______|__________|______|
| | and| 24| 32| 8| *| 2.74| |
| |_________|______|_______|________|______|__________|______|
| |including| 27| 28| 1| *| 5.53| |
| |_________|______|_______|________|______|__________|______|
| |AGBRC1331| 32| 33| 1| *| 3.71| 51|
|_______|_________|______|_______|________|______|__________|______|
| P3 |AGBRC1164| 24| 25| 1| *| 25.13| 54|
|_______|_________|______|_______|________|______|__________|______|
| |AGBRC1168| 22| 31| 9| *| 4.19| 50|
| |_________|______|_______|________|______|__________|______|
| |including| 22| 26| 4| *| 8.42| |
| |_________|______|_______|________|______|__________|______|
| |AGBRC1186| 7| 12| 5| *| 2.89| 54|
| |_________|______|_______|________|______|__________|______|
| |including| 10| 12| 2| *| 6.30| |
| |_________|______|_______|________|______|__________|______|
| P4 | and| 18| 21| 3| *| 7.51| |
| |_________|______|_______|________|______|__________|______|
| |AGBRC1187| 19| 23| 4| *| 6.14| 54|
| |_________|______|_______|________|______|__________|______|
| |including| 20| 22| 2| *| 9.70| |
| |_________|______|_______|________|______|__________|______|
| | and| 41| 49| 8| *| 2.60| 54|
| |_________|______|_______|________|______|__________|______|
| |including| 41| 42| 1| *| 8.19| |
|_______|_________|______|_______|________|______|__________|______|
|Target | Hole ID | From | To | Length | True | Au Grade |Final |
| | | (m) | (m) | (m) |Width | (g/t) |Depth |
| | | | | | (m) | | (m) |
|_______|_________|______|_______|________|______|__________|______|
| P4 |AGBRC1188| 11| 16| 5| *| 2.19| 54|
|(con't)|_________|______|_______|________|______|__________|______|
| |including| 13| 14| 1| *| 4.56| |
|_______|_________|______|_______|________|______|__________|______|
| |AGBRC1181| 17| 21| 4| *| 2.24| 54|
| |_________|______|_______|________|______|__________|______|
| |including| 18| 19| 1| *| 4.43| |
| |_________|______|_______|________|______|__________|______|
| |AGBRC1182| 34| 35| 1| *| 16.40| 59|
| |_________|______|_______|________|______|__________|______|
| | and| 41| 44| 3| *| 1.93| |
| |_________|______|_______|________|______|__________|______|
| |including| 43| 44| 1| *| 4.88| |
| P5 |_________|______|_______|________|______|__________|______|
| |AGBRC1183| 47| 52| 5| *| 3.45| 62|
| |_________|______|_______|________|______|__________|______|
| |including| 50| 52| 2| *| 5.09| |
| |_________|______|_______|________|______|__________|______|
| |AGBRC1185| 27| 36| 9| *| 2.38| 58|
| |_________|______|_______|________|______|__________|______|
| |including| 32| 34| 2| *| 4.25| |
| |_________|______|_______|________|______|__________|______|
| |AGBRC1201| 6| 7| 1| *| 11.42| 62|
|_______|_________|______|_______|________|______|__________|______|
| |AGBRC1159| 7| 8| 1| *| 2.01| 62|
| |_________|______|_______|________|______|__________|______|
| | and| 11| 14| 3| *| 3.74| |
| |_________|______|_______|________|______|__________|______|
| |including| 12| 14| 2| *| 5.23| |
| |_________|______|_______|________|______|__________|______|
| |AGBRC1160| 33| 34| 1| *| 2.11| 74|
| |_________|______|_______|________|______|__________|______|
| | and| 42| 57| 15| *| 5.59| |
| |_________|______|_______|________|______|__________|______|
| |including| 48| 54| 6| *| 8.24| |
| |_________|______|_______|________|______|__________|______|
| |AGBRC1171| 62| 65| 3| *| 3.58| 66|
| P6 |_________|______|_______|________|______|__________|______|
| |including| 62| 63| 1| *| 5.15| |
| |_________|______|_______|________|______|__________|______|
| |AGBRC1172| 39| 41| 2| *| 1.72| 50|
| |_________|______|_______|________|______|__________|______|
| |including| 39| 40| 1| *| 2.41| |
| |_________|______|_______|________|______|__________|______|
| |AGBRC1173| 5| 13| 8| *| 1.06| 50|
| |_________|______|_______|________|______|__________|______|
| |including| 9| 10| 1| *| 3.71| |
| |_________|______|_______|________|______|__________|______|
| |AGBRC1174| 11| 17| 6| *| 1.32| 50|
| |_________|______|_______|________|______|__________|______|
| |AGBRC1175| 31| 35| 4| *| 2.44| 54|
|_______|_________|______|_______|________|______|__________|______|
| |AGBRC1142| 1| 11| 10| *| 2.35| 72|
| |_________|______|_______|________|______|__________|______|
| P7 |including| 9| 11| 2| *| 6.13| |
| |_________|______|_______|________|______|__________|______|
| | and| 14| 15| 1| *| 10.22| |
|_______|_________|______|_______|________|______|__________|______|
| |AGBRC1199| 1| 2| 1| 0.9| 16.56| 70|
| |_________|______|_______|________|______|__________|______|
| |AGBRC1237| 19| 23| 4| 3.6| 13.43| 50|
| |_________|______|_______|________|______|__________|______|
| |including| 21| 23| 2| 1.8| 24.66| |
| |_________|______|_______|________|______|__________|______|
| MPN |AGBRC1238| 25| 32| 7| 6.3| 4.02| 54|
| |_________|______|_______|________|______|__________|______|
| |including| 25| 27| 2| 1.8| 12.54| |
| |_________|______|_______|________|______|__________|______|
| | and| 40| 41| 1| 0.9| 5.41| |
| |_________|______|_______|________|______|__________|______|
| | and| 45| 48| 3| 2.7| 1.96| |
|_______|_________|______|_______|________|______|__________|______|
| |AGBRC1333| 4| 7| 3| 2.7| 2.35| 59|
| SPN |_________|______|_______|________|______|__________|______|
| | and| 40| 42| 2| 1.8| 2.13| |
|_______|_________|______|_______|________|______|__________|______|
| |AGBRC1209| 2| 9| 7| 6.7| 2.70| 60|
| WP |_________|______|_______|________|______|__________|______|
| |including| 2| 4| 2| 1.9| 5.67| |
|_______|_________|______|_______|________|______|__________|______|
* True widths unknown at this time
Qualified Persons
K. Kirk Woodman, P.Geo., General Manager Exploration is the Qualified Person overseeing Endeavour's exploration projects in Burkina Faso, Côte d'Ivoire and Mali has reviewed and approved this press release.
All Agbaou sample preparations and standard 40-gram gold fire assays were performed by Bureau Veritas Laboratories, Abidjan, Côte d'Ivoire. Endeavour consistently employs a rigorous quality control and assurance program comprising regular insertion of certified reference standards, blanks and duplicates.
Grade intervals reported in this press release are length weighted composites calculated for continuous individual assays =0.5g/t with up to 2m internal dilution.
About Endeavour Mining Corporation
Endeavour is a gold producer delivering growth. Endeavour owns two gold mines producing approximately 200,000 ounces per year in Ghana and Burkina Faso that are generating significant operating cash flows to fund exploration and development growth. In addition to upside potential at its current operations, Endeavour's third gold mine, Agbaou in Côte d'Ivoire, has entered the construction phase for an additional 100,000 ounces per year starting in Q1 2014. Endeavour has a strong financial base from which to invest in long-term operational growth, exploration to replace and increase reserves, and funding for acquisitions.
On August 7, 2012, Endeavour announced a definitive agreement to acquire Avion Gold (TSX:AVR) to become one of the largest West African gold mining companies with three producing mines, a fourth mine currently in construction, and an attractive pipeline of exploration and resource development properties. The Avion transaction is expected to close in October 2012.
Endeavour Mining Corporation is listed on the TSX (symbol EDV) and ASX (symbol EVR), and also trades on the OTCQX (symbol EDVMF).
On behalf of Endeavour Mining Corporation
Neil Woodyer Chief Executive Officer
This news release contains "forward-looking statements" including but not limited to, statements with respect to Endeavour's plans and operating performance, the estimation of mineral reserves and resources, the timing and amount of estimated future production, costs of future production, future capital expenditures, and the success of exploration activities. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "expects", "expected", "budgeted", "forecasts" and "anticipates". Forward-looking statements, while based on management's best estimates and assumptions, are subject to risks and uncertainties that may cause actual results to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: risks related to the successful integration of acquisitions; risks related to international operations; risks related to general economic conditions and credit availability, actual results of current exploration activities, unanticipated reclamation expenses; changes in project parameters as plans continue to be refined; fluctuations in prices of metals including gold; fluctuations in foreign currency exchange rates, increases in market prices of mining consumables, possible variations in ore reserves, grade or recovery rates; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes, title disputes, claims and limitations on insurance coverage and other risks of the mining industry; delays in the completion of development or construction activities, changes in national and local government regulation of mining operations, tax rules and regulations, and political and economic developments in countries in which Endeavour operates. Although Endeavour has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Please refer to Endeavour's most recent Annual Information Form filed under its profile at www.sedar.com for further information respecting the risks affecting Endeavour and its business.
Appendix of Collar Locations for Reported Holes
____________________________________________________________________________
| Hole | Easting | Northing | Elevation | Azimuth | Dip | Final-Depth |
| ID | m | m | m | degrees | degrees | m |
|_________|_________|__________|___________|_________|_________|_____________|
|AGBRC1095| 253486 | 673869 | 235 | 300 | -60 | 104 |
|_________|_________|__________|___________|_________|_________|_____________|
|AGBRC1104| 253337 | 673905 | 227 | 300 | -60 | 96 |
|_________|_________|__________|___________|_________|_________|_____________|
|AGBRC1125| 254105 | 674460 | 373 | 300 | -60 | 60 |
|_________|_________|__________|___________|_________|_________|_____________|
|AGBRC1126| 254129 | 674448 | 373 | 300 | -60 | 78 |
|_________|_________|__________|___________|_________|_________|_____________|
|AGBRC1140| 253498 | 674028 | 226 | 300 | -60 | 63 |
|_________|_________|__________|___________|_________|_________|_____________|
|AGBRC1142| 253503 | 673739 | 262 | 300 | -60 | 72 |
|_________|_________|__________|___________|_________|_________|_____________|
|AGBRC1159| 253305 | 674986 | 197 | 300 | -60 | 62 |
|_________|_________|__________|___________|_________|_________|_____________|
|AGBRC1160| 253334 | 674970 | 202 | 300 | -60 | 74 |
|_________|_________|__________|___________|_________|_________|_____________|
|AGBRC1164| 253841 | 673744 | 204 | 300 | -60 | 54 |
|_________|_________|__________|___________|_________|_________|_____________|
|AGBRC1168| 252871 | 675187 | 209 | 300 | -60 | 50 |
|_________|_________|__________|___________|_________|_________|_____________|
|AGBRC1171| 253357 | 674959 | 205 | 300 | -60 | 66 |
|_________|_________|__________|___________|_________|_________|_____________|
|AGBRC1172| 253382 | 674943 | 209 | 300 | -60 | 50 |
|_________|_________|__________|___________|_________|_________|_____________|
|AGBRC1173| 253408 | 674928 | 213 | 300 | -60 | 50 |
|_________|_________|__________|___________|_________|_________|_____________|
|AGBRC1174| 253434 | 674912 | 215 | 300 | -60 | 50 |
|_________|_________|__________|___________|_________|_________|_____________|
|AGBRC1175| 253460 | 674895 | 218 | 300 | -60 | 54 |
|_________|_________|__________|___________|_________|_________|_____________|
|AGBRC1181| 253165 | 675028 | 213 | 300 | -60 | 54 |
|_________|_________|__________|___________|_________|_________|_____________|
|AGBRC1182| 253106 | 674980 | 207 | 300 | -60 | 59 |
|_________|_________|__________|___________|_________|_________|_____________|
|AGBRC1183| 253142 | 674962 | 198 | 300 | -60 | 62 |
|_________|_________|__________|___________|_________|_________|_____________|
|AGBRC1185| 253089 | 674944 | 209 | 300 | -60 | 58 |
|_________|_________|__________|___________|_________|_________|_____________|
|AGBRC1186| 252917 | 675228 | 204 | 300 | -60 | 54 |
|_________|_________|__________|___________|_________|_________|_____________|
|AGBRC1187| 252941 | 675212 | 205 | 300 | -60 | 54 |
|_________|_________|__________|___________|_________|_________|_____________|
|AGBRC1188| 252958 | 675252 | 206 | 300 | -60 | 54 |
|_________|_________|__________|___________|_________|_________|_____________|
|AGBRC1199| 253654 | 674853 | 266 | 300 | -60 | 70 |
|_________|_________|__________|___________|_________|_________|_____________|
|AGBRC1201| 253114 | 674938 | 192 | 300 | -60 | 62 |
|_________|_________|__________|___________|_________|_________|_____________|
|AGBRC1209| 252746 | 674662 | 212 | 300 | -60 | 60 |
|_________|_________|__________|___________|_________|_________|_____________|
|AGBRC1237| 254057 | 674698 | 332 | 300 | -60 | 50 |
|_________|_________|__________|___________|_________|_________|_____________|
|AGBRC1238| 254080 | 674685 | 336 | 300 | -60 | 54 |
|_________|_________|__________|___________|_________|_________|_____________|
|AGBRC1313| 253189 | 673674 | 240 | 300 | -60 | 52 |
|_________|_________|__________|___________|_________|_________|_____________|
|AGBRC1331| 253316 | 673889 | 222 | 300 | -60 | 51 |
|_________|_________|__________|___________|_________|_________|_____________|
|AGBRC1333| 253680 | 673891 | 219 | 300 | -60 | 59 |
|_________|_________|__________|___________|_________|_________|_____________|
(Northing and Easting reported in WGS 84 UTM Zone 30N)
PDF available at: http://stream1.newswire.ca/media/2012/09/06/20120906_C4557_DOC_EN_17563.pdf
SOURCE: Endeavour Mining Corporation
To view this news release in HTML formatting, please use the following URL: http://www.newswire.ca/en/releases/archive/September2012/06/c4557.html
SOURCE: Endeavour Mining Corporation
BAMAKO, Mali (AP) — Days have passed since Mali’s interim government made a formal request to neighboring nations for military help to try to take back the country’s north, which fell to Islamist rebels after a coup five months ago.
But in a bizarre twist, the Malian government is refusing to confirm to its own people that it has made the regional appeal. Confusion in the capital, Bamako, is growing and heightening the perception that the soldiers who led the March coup — but were then pressured into handing power back to civilians — are still calling the shots.
There has been no mention on state TV of the formal request to the Economic Community of West African States (ECOWAS). And four days after the request for military help was confirmed by France, and after reporters from several news organizations were leaked copies of the official document, presidential spokesman Diarra Diakite said he had nothing to say on the matter, and that he had not seen the request.
‘‘I myself have not seen this request, and if I had I would have sent it out for publication in the press,’’ Diarra told The Associated Press Friday. ‘‘Up to this moment, I haven’t seen it and so please don’t ask me, as I don’t know anything about it.’’
A copy of the request dated Sept. 1, which was seen by AP, shows that Interim President Dioncounda Traore asked the West African regional bloc of 15 nations to provide five battalions to try to take back the north. Mali is also asking for air support to destroy rebel bases in their remote hideouts, as well as to gather intelligence.
Traore also asked for help in restructuring the Malian army, including training infantry and artillery units, and logistical support including de-mining equipment and water purification systems to be used in the field.
For months, the international community has been pressing Mali to make the formal request for military help so that regional leaders can ask the U.N. Security Council to send forces into the country. France and the United States have expressed deep concern about the north becoming a base for international terrorism. Two rebel groups control the immense territory, and both have ties to al-Qaida’s affiliate in North Africa.
But Mali did not make the request, apparently because the soldiers who led the March 21 coup in the capital refused to accept a foreign force, fearing that it would curtail their influence.
The coup leader, Capt. Amadou Haya Sonogo, is supposed to have stepped aside, but many believe he still exerts influence. On Twitter this week, rumors spread that Sanogo is against the request for military help.
A civilian who was hired by the junta in April to help run the parallel government they had created inside their barracks told AP on Friday that the putchists had not been informed of Traore’s request. The news of the request first reached the Kati barracks near Bamako, from where the coup was launched, via media reports, he said.
‘‘The problem is how this information reached the men,’’ said the official, who requested anonymity because the junta had not authorized him to speak to the press. ‘‘It came to us in this bizarre fashion — we heard about it when France confirmed it. So (the question is) ... why did the presidential palace not respond to this publicly? This is what is sowing disorder and confusion in the heads of people.’’
A military official close to the junta, who requested anonymity because of the sensitivity of the matter, said that the interim president had made the request without the consent of the soldiers who led Mali’s recent coup. He said that Sanogo was holding a high-level meeting at Kati on Friday in order to decide what to do next.
French Foreign Ministry spokesman Philippe Lalliot confirmed, in an online briefing on Thursday, that Mali had made the request to the regional bloc. France called it ‘‘an indispensable step’’ which was needed for the Security Council to authorize a military operation in Mali.
On Sept. 26, world leaders will meet on the sidelines of the United Nations General Assembly to discuss the issue of Mali and a possible intervention force, said the French official.
However, Malian officials gave mixed messages even after traveling to neighboring Ivory Coast to discuss the formal request with Ivorian leader Alassane Ouattara, the current head of ECOWAS. The request for the military intervention seen by AP was addressed to Ouattara.
Speaking to reporters afterwards, Baba Berthe, Traore’s secretary general, said management of the situation in Mali was ‘‘beyond the capabilities’’ of Malian authorities
‘‘When a problem is a problem which is going beyond borders, the problem needs a solution from beyond borders,’’ he said. ‘‘President Traore asked me to come to solicit the support of the sub-region, ECOWAS, and Cote d'Ivoire to handle this problem.’’
Asked about the possibility of a military campaign to reconquer the north, however, Berthe hedged and said that the situation is still in the ‘‘negotiation phase,’’ and that any ‘‘military phase’’ would occur only after negotiations had failed. ‘‘The negotiation phase always precedes the military phase,’’ he said, adding a military operation would ‘‘not be applicable’’ if negotiations were successful.
9-7-12
AVGCF's MACD is indicating a weak bearish signal. Although the indicator is above the critical level of 0, which implies that the underlying moving averages are bullish, the MACD has crossed below its 9-day moving average
Avion to attend 2012 Denver Gold Forum
from September 9, 2012 to September 30, 2012
Time: 05:00 PM MDT