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Totally agreed Drew, Float is being bought up, No one is willing to give up their shares, MM'S will move it soon and there will be some left behind quickly when it does move north.
Don't get so worried people are not posting, I am now 3.500.000 strong and not posting, the bid sitters figure if they can get it on the bid the stock is going down and is weak and when they cant get it they wait, Then it shoots up and they miss it, When a stock is not trading much volume is not the time to bid sit and determine direction. but either way good luck all,
Crazy sellers getting very little back for their investment, of course I will keep buying it up.
Holding over 2,000,000 buying at the drops, no selling until it reaches pennies.
Getting some nice action today, something brewing in the wind
Thanks Again Blue, Bought in Roe.V when you first mentioned it. Nice pick, great potential
Re Read the press release, it has just kick started the buy back of shares, which will total 10,000,000, How do people trade just reading headlines, I will never know
The Company's stock repurchase program allows the Company to acquire up to $10 million worth of its common stock at prevailing market prices. Management has indicated that the program is designed to strengthen the Company's long-term financial structure by capitalizing on the current undervaluation of its stock in the open market. company, today announced it has acquired 53,510 shares of its common stock as part of its recently established $10 million stock repurchase program
Live Ventures Incorporated Subsidiary Marquis Industries Reports Record Sales for March 2016
LAS VEGAS, April 5, 2016 /PRNewswire/ - Live Ventures Incorporated (NASDAQ:LIVE) ("Live Ventures" or the "Company"), a diversified holding company, today announces its subsidiary, Marquis Industries, reported record sales of approximately $7.3M (unaudited) for March 2016. This milestone represents the biggest sales month in the 20-year history of the company, even prior to Live Ventures' acquisition.
"We are especially proud of Marquis' CEO, Tim Bailey, and his team for their amazing effort and superlative results," said Jon Isaac, CEO of Live Ventures Incorporated. "This historic milestone for Marquis further demonstrates our dedication to acquiring revenue-generating companies that will help drive the value of our stock for our shareholders."
About Live Ventures Incorporated
Live Ventures Incorporated is a diversified holding company with several wholly-owned subsidiaries and a strategic focus on acquiring profitable companies that have demonstrated a strong history of earnings power. Live Ventures Incorporated provides, among other businesses, marketing solutions that boost customer awareness and merchant visibility on the Internet. We operate a deal engine, which is a service that connects merchants and consumers via an innovative platform that uses geo-location, enabling businesses to communicate real-time and instant offers to nearby consumers. In addition, we maintain, through our subsidiary, ModernEveryday, an online consumer products retailer and, through our subsidiary, Marquis Industries, a specialty, high-performance yarns manufacturer, hard-surfaces re-seller, which is a top-10 high-end residential carpet manufacturer in the United States. Marquis Industries, through its A-O Division, utilizes its state-of-the-art yarn extrusion capacity to market monofilament textured yarn products to the artificial turf industry. Marquis is the only manufacturer in the world that can produce certain types of yarn prized by the industry.
For more information, please visit www.live-ventures.com.
Forward-Looking and Cautionary Statements
This press release may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. In accordance with the safe harbor provisions of this Act, statements contained herein that look forward in time that include everything other than historical information, involve risks and uncertainties that may affect the company's actual results. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates, " "future," "intends," "plans," "believes," "estimates" and similar statements. LiveDeal, Inc. may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission on Forms 10-K, 10-Q and 8-K, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. There can be no assurance that such statements will prove to be accurate and there are a number of important factors that could cause actual results to differ materially from those expressed in any forward-looking statements made by the company, including, but not limited to, plans and objectives of management for future operations or products, the market acceptance or future success of our products, and our future financial performance. The company cautions that these forward-looking statements are further qualified by other factors including, but not limited to, those set forth in the company's Form 10-K for the fiscal year ended September 30, 2014, most recent Form 10-Q, and other filings with the U S. Securities and Exchange Commission (available at http://www.sec.gov). The company undertakes no obligation to publicly update or revise any statements in this release, whether as a result of new information, future events, or otherwise.
Contact:
Live Ventures Incorporated
Tim Matula, investor relations
425-836-9035
press@live-ventures.com
http://live-ventures.com/pressroom
Source: Live Ventures Incorporated
SOURCE LiveDeal Inc.
The Company also is pleased to advise that it has reached agreement in principle for a US$10 million financing in consideration of granting a royalty on bitumen production. Parties are working towards definitive agreements and necessary approvals. Management expects to close the financing by year-end.
US OIL SANDS INC. PROVIDES PROJECT UPDATE, PROGRESS ON FINANCING AND THIRD QUARTER 2015 RESULTS
CALGARY, ALBERTA November 27, 2015 – US Oil Sands Inc. ("US Oil Sands" or the "Company") (TSXV: USO), a company focused on oil sands exploration and production in Utah, today announced that it has filed its unaudited interim financial statements ("Interim Report") for the three and nine month period ended September 30, 2015 ("Q3 2015") along with the management discussion and analysis ("MD&A") of the financial results of US Oil Sands for such period.
A copy of the aforementioned documents may be found for viewing on the System for Electronic Document Analysis and Retrieval website at www.sedar.com as well as US Oil Sands’ website at www.usoilsandsinc.com.
During the third quarter, US Oil Sands continued to make substantial progress in all areas of the PR Spring Project, moving towards mechanical completion of the process extraction plant. Most key pieces of process equipment were delivered to site and either set in place or staged for installation early in the fourth quarter. Mine construction was substantially completed including construction of haul roads, over-burden removal to the top of the first oil sands bed, and topsoil preservation and storage; an important element in the Company’s unique concurrent reclamation plan. The Company has experienced some delay in final engineering of piping, electrical, and instrumentation and delivery of certain equipment components, resulting in the Company now expecting commissioning and commercial start-up to occur in Q1 2016.
The Company also is pleased to advise that it has reached agreement in principle for a US$10 million financing in consideration of granting a royalty on bitumen production. Parties are working towards definitive agreements and necessary approvals. Management expects to close the financing by year-end.
“We are pleased to be working towards completion of our Utah project and excited to be able to successfully demonstrate the commercial effectiveness of our breakthrough technology during the 2016 operating year,” said Cameron Todd, CEO of US Oil Sands. “Completion of this project during one of the most challenging environments seen by our industry will be an outstanding achievement.”
SELECTED QUARTERLY HIGHLIGHTS
Since July 1, 2015, the Company:
Received at site for erection and installation most of the remaining key pieces of process equipment including the paddle dryer, disk stack centrifuge, modular electrical house, office and control room buildings, bulk storage tanks and the heat recovery steam generator;
Completed main pipe rack construction and commenced tank farm construction;
Completed all civil work including foundations and pilings, trenching and underground utilities, water supply pipeline and main gas tie-in from a commercial supply pipeline;
Developed a commissioning and start-up plan with the assistance of an experienced third party engineering firm;
Substantially completed all project engineering;
Completed programming of the facility’s automated process control system; and
Substantially completed work on the mine opening activities, including haul roads, over-burden removal, and topsoil preservation and storage.
In order to provide shareholders, media and other interested stakeholders with a graphic representation of some of these milestones, the Company’s home page of its website (www.usoilsandsinc.com) has been enhanced with a photo gallery capturing the construction progress of the PR Spring Project. Additional pictures will be added as the project progresses to commercial production with a goal of improving shareholder communication and market visibility.
OPERATIONAL HIGHLIGHTS
The pace of field activity in the third quarter matched that of the previous quarter and saw significant milestones achieved on the processing plant construction and the mine opening. The Company did however experience the delayed receipt of certain equipment as well as the delay in receipt of final engineering of piping, electrical and instrumentation. As a result, the Company elected to perform more field installation of these elements.
Preparation for a safe and smooth commercial start-up continued with the development of a commissioning and start-up plan in conjunction with a specialized engineering firm. US Oil Sands successfully hired its lead operations personnel and began training activities utilizing the Company’s pilot processing unit at its Grande Prairie research and development facility. With the majority of the Company’s recruiting program complete, the few remaining operations positions are now expected to be filled early in the new year.
SUBSEQUENT EVENTS
Subsequent to the quarter-end, US Oil Sands engaged McDaniel & Associates Consultants Ltd. ("McDaniel") as its go-forward independent resource evaluators. McDaniel is one of the world’s leading petroleum consulting firms specializing in reserves evaluations and resource assessments and has been evaluating oil sands resources and production since the start of the very first commercial steam assisted gravity drainage project in Canada. Their strong technical expertise combined with their experience evaluating new production technologies strategically fit US Oil Sands’ objectives of commercializing its revolutionary bitumen extraction process.
OUTLOOK
The Company will continue to execute on Phase 1 of the PR Spring Project with on-site erection and installation of the process extraction plant modules in accordance with the Company’s Construction Execution Plan. Field assembly will continue throughout Q4 2015 and into the first quarter of 2016, followed by commissioning and commercial start-up, which is also expected to be complete in Q1 2016.
The Company is focused on its primary success measures of achieving high oil recovery, eliminating tailings ponds, high solvent recovery and recycle rates, low capital intensity, and continuous and safe operations and anticipates that the successful demonstration of these characteristics of the PR Spring Project will open up expansion opportunities as well as future developments in other oil sands areas outside of Utah.
Management will continue to investigate and pursue business development opportunities for the Company’s technology, including opportunities to work with Canadian oil sands developers, leaseholders and government agencies supporting development of Canadian oil sands.
The Company is also evaluating and assessing specific markets for sales of crude oil and other petroleum products, along with optimal logistics of moving these products to market.
ABOUT US OIL SANDS INC.
US Oil Sands is engaged in the exploration and development of oil sands properties and, through its wholly owned United States subsidiary US Oil Sands (Utah) Inc., has a 100% interest in bitumen leases covering 32,005 acres of land in Utah’s Uinta Basin. The Company plans to develop its oil sands properties using its proprietary extraction process which uses a bio-solvent to extract bitumen from oil sands without the need for tailings ponds. The Company is in the pre-production stage, anticipating the commencement of bitumen production and sales in Q1 2016.
The foregoing contains forward-looking information relating to the future performance of the Company including information relating to the development and construction of the PR Spring Project, commencement of commercial production, completion of proposed financing and corporate development activities. Forward looking information is subject to a number of known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those anticipated in our forward looking statements. Such risks and other factors include, among others, the actual results of exploration activities, changes in world commodity markets or equity markets, the risks of the petroleum industry including, without limitation, those associated with the environment, delays in obtaining governmental approvals, permits or financing or in the completion of development or construction activities, title disputes, change in government and changes to regulations affecting the oil and gas industry, and other risks and uncertainties detailed from time to time in the Company's filings with Canadian securities regulatory authorities (available at www.SEDAR.com). Forward-looking statements are made based on various assumptions and on management's beliefs, estimates and opinions on the date the statements are made. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in the forward-looking information contained herein. The proposed financing remains subject to negotiation of definitive agreements and obtaining all regulatory approvals and accordingly there is no certainty that the transaction will be completed on the terms described herein or at all. The Company undertakes no obligation to update forward-looking statements if these assumptions, beliefs, estimates and opinions or other circumstances should change, except as required by applicable law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For additional information please contact:
Cameron Todd, CEO or Glen Snarr, President & CFO
Tel: +1 403 233 9366
Investor Relations:
Jack Copping, Manager, Corporate Development
Tel: +1 403 233 9366 ext. 27
Email: jack.copping@usoilsandsinc.com
http://www.usoilsandsinc.com/index.php/investors/news-releases/109-us-oil-sands-inc-provides-project-update-progress-on-financing-and-third-quarter-2015-results
Suite 1600, 521 – 3rd Avenue SW
Calgary, Alberta T2P 3T3
Tel: +1 403 233 9366
Email: info@usoilsandsinc.com
Website: www.usoilsandsinc.com
Last update: 11/11/2015 9:00:09 am
FreeSeas Announces New Charter for Vessels
Athens, Nov. 11, 2015 (GLOBE NEWSWIRE) -- Athens, Greece, November 11, 2015 -- FreeSeas Inc. (Nasdaq: FREE) ("FreeSeas" or the "Company"), a transporter of dry-bulk cargoes through the ownership and operation of a fleet of Handysize vessels and an owner of a controlling stake in a company commercially operating tankers and dry-bulkers, announced today that the Company-owned vessel M/V Free Neptune, a 1996-built, 30,838 dwt Handysize vessel, has contracted a voyage charter of approximately 35 days duration, yielding an estimated equivalent T/C rate of approximately $7,000 per day.
About FreeSeas Inc.
FreeSeas Inc. is a Marshall Islands corporation with principal offices in Athens, Greece. FreeSeas is engaged in the transportation of drybulk cargoes through the ownership and operation of drybulk carriers and also is an owner of a controlling stake in a company commercially operating tankers and dry-bulkers. Currently, it has a fleet of Handysize vessels. FreeSeas' common stock trades on the Nasdaq Capital Market under the symbol FREE. Risks and uncertainties are described in reports filed by FreeSeas Inc. with the SEC, which can be obtained free of charge on the SEC's website at http://www.sec.gov. For more information about FreeSeas Inc., please visit the corporate website, www.freeseas.gr.
Forward-Looking Statements
This press release contains forward-looking statements (as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended) concerning future events and the Company's growth strategy and measures to implement such strategy. Words such as "expects," "intends," "plans," "believes, " "anticipates," "hopes," "estimates," and variations of such words and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to be correct. These statements involve known and unknown risks and are based upon a number of assumptions and estimates, which are inherently subject to significant uncertainties and contingencies, many of which are beyond the control of the Company. Actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, changes in the demand for dry bulk vessels; competitive factors in the market in which the Company operates; risks associated with operations outside the United States; and other factors listed from time to time in the Company's filings with the Securities and Exchange Commission. The Company expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company's expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.
Contact Information:
At the Company
FreeSeas Inc.
Dimitris Papadopoulos, Chief Financial Officer
011-30-210-45-28-770
Fax: 011-30-210-429-10-10
dp@freeseas.gr
www.freeseas.gr
(MORE TO FOLLOW) Dow Jones Newswires
Freeseas 13G Filing Shows Holder Cambira Capital Holds 6.6% Stake As Of June 24
Last update: 30/06/2015 2:19:06 pm
I also notice when I do buy it pops up as a sell, they must not be completed covering all the shorts they have in huge amounts
I agree, I keep scooping up more and more shares to hold onto. Yes it is quite boring, but when volume comes and price starts to rise shorts will cover quickly
I am hoping it will not test 2.95 again, It really should be making a pretty big correction upward, since it was so oversold, a negative reaction to news, but way way overrated
Yes and no ones watching, until it hits their radar then volume should come in.
consolidation should be complete and will start moving up, 2.95 resistance then to 3.48- 3.68 no resistance after that
Dilution is not happening, profit takers thats all, The the company just received 90 million, stay short but don't try to convince the longs here to have any belief in dilution at this time
Why the Siemens – Molycorp rare earths contract is a sector game-changer.
Posted on May 20, 2015 by Steve Mackowski
Siemens has recently signed a 10 year contract to Molycorp for the supply of rare earth magnet feed materials for their wind turbine machines. In the last 10 years of rare earth development, this is the most significant development in our space. I will try to explain why I feel this way. I need to state that the arguments presented are mine alone and that I am totally independent of any party or parties involved. I do not assert that the argument is necessarily correct or that any assumptions are supported by other facts available. I am simply presenting my thoughts to provoke consideration and discussion in the rare earths development space.
Why would Siemens sign a contract with Molycorp?
Because the price is cheaper than the price out of China? I don’ think so.
Because Siemens is concerned that they cannot guarantee medium to long term supply of magnet materials out of China (their major wind turbine competitor) and is looking for a non-China supply solution. This seems like a very logical response. It would be very interesting to see the details of the contract, particularly the long term pricing model. But I don’t think that will become public.
But why am I so overwhelmed by the contract? Easy. This is the first contract by an original equipment manufacture (OEM ), with a rare earths mining supply company. By that understand that the wind turbine manufacturer is actually contracting directly with the mining company for the sourcing of commodity magnet feed materials. Over the last ten years, this is exactly the solution to the developer rare earths space that we have all been aspiring towards! A solution where the long term technology provider ensures his future by being a major player in ensuring his supply chain. To date, the response of the hi-tech end user to this approach has been to distance itself from the mining process. They have seen the problem as that of their supplier; the magnet maker. They have not wished to be connected to the mining space. This move by Siemens is potentially a game changer.
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DSC01409Again. So why would Siemens sign a contract with Molycorp?
Because they want to ensure their long term future in the wind turbine business by securing a long term supply of their magnet feed materials outside of China. But why Molycorp?
Because they are de-risking the decision by only choosing from existing, operating, non-Chinese production. But why not Lynas? This is a difficult question. Maybe it’s price, maybe it’s availability. Perhaps Lynas does not have the spare output out of contract. Maybe it’s a social licence issue. Allow me some slack here. There has been a lot of flak in the media of late about the poor environmental performance of Chinese rare earth producers (personally after many years inside China, I find these statements historically correct but not so correct today). I can understand why a hi-tech green energy business would want to distance itself from that. So if you want a non-Chinese (for supply guarantee and perceived environmental assurance), supply with no environmental issues, then maybe the local radiation-induced, social unrest around Lynas’ Malaysian operations could be enough to sway a decision towards Molycorp? Who knows? But it does flag any aspiring rare earth developer that their environmental, safety and social governance issues could be front and center in any possible deals going forward into the future.
What does the decision mean?
Details are sketchy at the moment. Is the arrangement in part due to the effectiveness of the German Resource Alliance (Rohstoff Allianz), processes in place in Europe? This would encourage similar approaches in North America. Does it mean that the top end OEM hi-tech companies have finally acknowledged that they must be part of the long term supply issue of non-Chinese rare earths? If so, then rare earths project developers can rekindle their dreams of arrangements, supply and maybe even financing as solutions. A few years ago I stated that if there are 20 significant OEM users of rare earth magnets (cars, trains and wind turbines) around the non-China world and there is no rare earths supply out of China, then at least a dozen new rare earths developments were needed to supply those OEMs.
Are better times just around the corner?
http://investorintel.com/technology-metals-intel/why-the-siemens-molycorp-rare-earths-contract-is-a-sector-game-changer/
Picked up 10,000 yesterday never saw it posted on L2
No but it does appear a lot of shorts went broke, there will be more longs, more waiting to get in, and more shorts getting burned on the way up. You are obsessed with getting this stock right, everyone knows you have lost money, give it up to many variables as many have seen.
Totally agree, .33 make it above and hold it away we go.
Pipe dream .09 .15 maybe never
Kabanch just so you are aware that does not mean the whole float is available, much of it has been bought up, hence the price continues to rise
And how many shares do you believe are just floating. Do you have a number?
Keyotee dont leave just go long on this, help some brothers out.
BREAKOUT WATCH for possible breakout above 0.26, no resistance in area just above.
Type: Continuation breakout from Single resistance.
Target: 0.31, 24% Stop: 0.23, Loss: 8%, Profit/Loss raCURRENT PRICE 0.25, at resistance, 0.25 ± 0.01, type Single, strength 3
RESISTANCE ABOVE None.
SUPPORT BELOW Stop: 0.23, Loss: 8%, Profit/Loss ra-12% at 0.22 ± 0.01, type Triple, strength 10
-28% at 0.18 ± 0.01, type Triple, strength 10
-36% at 0.16 ± 0.01, type Double, strength 10
-44% at 0.14 ± 0.01, type Triple, strength 10
-48% at 0.13 ± 0.01, type Triple+, strength 10
All emotion, with many facts offered, something you seem to leave out of most of your posts. .09 I still remember your prediction. And many other wrong ones, Go away trade oil as you promised, you covered your short today, no sense hanging around, its hopeless long traders here.
I love these low volume dumps that scare weak hands out, I have been accumulating since blue signaled this months and months ago. Not going anywhere for a while
Little shaking out today of weak hands, many longs here with a lot of shares. We break through this .25 finally and we should be fine up into the .30s.
Baro as you cry wolf, you could at least have made some money
Once people starting getting how very important this is to this very low priced stock,that is producing massive amounts of gold from two sites, we will move up quickly
Need to break that .25, by the way blue called this stock months ago at around .17 .18.. I have been accumulating since then
No one knows for sure PR is friday, it could come it may not. Nothing definite, The reply from BAA said next week or shortly thereafter, could be today, tomorrow, friday or shortly thereafter, Every time people boast these things without being sure, they discourage people that took it for granted.
Will Banro (BAA) Continue to Surge Higher?
April 08, 2015 This is why Zacks has BAA listed as a buy
by Zacks Equity Research Published on April 08, 2015 | No Comments
BAA
ZacksTrade Now
Share Print
Banro Corporation (BAA - Snapshot Report) has been on the move lately as the stock has risen by 47.8% in the past four weeks, and it is currently trading well above its 20-Day SMA. This is a pretty solid move higher, but the question that has to be on investors’ minds right now is; can this trend continue?
While there can be no telling for sure, it is certainly encouraging that earnings estimates have risen in the past few weeks on the company, suggesting that sentiment on BAA is moving in the right direction. In fact, the stock currently has a Zacks Rank #2 (Buy), suggesting that the recent run could certainly continue for this in-focus companyhttp://www.zacks.com/stock/news/170095/will-banro-baa-continue-to-surge-higher
I am not convinced they are waiting until after hours to report quarter 4, there is no press release stating that, so stop just saying it, They will watch the markets reaction to this news and report accordingly
The key to quarter 4 is here, "Twangiza is performing well and achieved its third consecutive record quarterly gold production.
MKTW) Banro Announces Record Q1 Production Results
Last update: 06/04/2015 8:00:48 am
Banro Announces Record Q1 Production Results
TORONTO, ONTARIO--(Marketwired - Apr 6, 2015) -
Editors note: There is a photo associated with this release.
Banro Corporation ("Banro" or the "Company") (NYSE MKT:BAA)(TSX:BAA) today announced its operating results for the first quarter of 2015.
COMPANY Q1 OPERATIONAL HIGHLIGHTS
-- Twangiza produced 35,943 ounces of gold in the first quarter of 2015, a
78% increase over Q1 2014 (20,137 ounces in Q1 2014), successfully
managing the adverse impact of the rainy season.
-- Process plant throughput achieved 101% of the 1.7 million tonnes per
annum ("Mtpa") annualized design capacity and more importantly, 3
quarters of consistent incremental improvement.
-- Twangiza processed up to 28% of transition material to assist with the
feed blend during the last two quarters, even though this material is not
included in the Company's mineral reserves.
-- Together, Twangiza and Namoya produced 45,197 ounces of gold during Q1
2015.
CORPORATE DEVELOPMENT UPDATE
-- The Company received US$20 million of the US$40 million from the Twangiza
gold forward sale agreements and expects to close on the remaining funds,
as well as the Namoya stream financing, in mid-April.
"Twangiza is performing well and achieved its third consecutive record quarterly gold production. Twangiza will be optimized in Q2 for operational improvement. Namoya is positioned to improve during Q2 2015 as we are ramping up ore production following the installation of the agglomeration stage (with cement added as a binder) into the Namoya heap leach circuit. The agglomeration drum is expected to allow for more efficient processing of the fines content of the Namoya ore and ensure more efficient reagent percolation in the heap process, leading to better gold recovery," commented Banro CEO and President John Clarke.
Twangiza Update
As a result of the management team's diligence and ongoing drive for operational improvement, Twangiza's mining and process plant delivered strong operating results despite the wet conditions typically experienced in the first quarter. Larger mine production allowed the operation to prioritize higher grade for processing, while ample dry stockpiles allowed for consistent throughput to optimize the quarterly plant throughput (428,844t), reaching the annualized design throughput of 1.7 Mtpa. Management plans, over the next 2 quarters, to continue to debottleneck the process to ensure this capacity can be maintained permanently, before pursuing higher targets.
Twangiza poured 10,635 ounces in January, 13,197 ounces in February and 12,111 ounces in March for a first quarter 2015 total of 35,943 ounces of gold. This is above the 2015 monthly average production guidance of 9,000 ounces per month as the operation moves into the dry season and easier working conditions for mine and plant operations.
The Company's preliminary 2015 first quarter production results for the Twangiza mine, in comparison to the same quarter of 2014 and the previous quarter in 2014 are as follows:
Operating % % Full Year Full Year %
Metrics Units Q1 2015 Q1 2014 Change Q4 2014 Change 2014 2013 Change
----------- ------ ------- ------- ------ ------- ------ --------- --------- ------
Total
material
mined Tonnes 975,716 677,569 44% 969,062 1% 3,595,645 4,116,657 (13%)
----------- ------ ------- ------- ------ ------- ------ --------- --------- ------
Total ore
mined Tonnes 632,264 296,324 113% 556,856 14% 1,927,744 1,758,972 10%
----------- ------ ------- ------- ------ ------- ------ --------- --------- ------
Total ore
milled Tonnes 428,844 252,691 70% 370,881 16% 1,358,726 1,023,981 33%
----------- ------ ------- ------- ------ ------- ------ --------- --------- ------
Head grade g/t Au 3.21 2.73 18% 3.01 7% 2.70 2.98 (9%)
----------- ------ ------- ------- ------ ------- ------ --------- --------- ------
Recovery % 80.7 84.97 (5%) 81.4 (1%) 83.0 83.8 (1%)
----------- ------ ------- ------- ------ ------- ------ --------- --------- ------
Strip ratio t:t 0.54 1.29 (58%) 0.74 (27%) 0.84 1.35 (38%)
----------- ------ ------- ------- ------ ------- ------ --------- --------- ------
Gold
production Ounces 35,943 20,137 78% 29,445 22% 98,184 82,591 19%
----------- ------ ------- ------- ------ ------- ------ --------- --------- ------
The Twangiza operation processed up to 28% transition material currently in the measured and indicated categories. This material performed well when mixed with the oxide reserves and hence provides the basis for some non-oxide material to be incorporated into the on-going updated NI 43-101 reserves and resources statement that is expected to be released later this month.
Namoya Update
The key objective for Namoya management in Q1 was to position itself to reach commercial completion by H2 2015. The Company had to modify its original ramp-up plans due to the financing delay (with financing having now been secured as reported in the Company's February 27, 2015 press release). This included:
-- Pre-stripping Kakula reserve pit earlier than planned in order to open up
more mining faces to improve flexibility in mine scheduling and provide
additional time for the delivery of the mobile truck fleet that would
commence waste stripping activities.
-- Commissioning of the agglomeration drum was done on January 27, 2015, 18
days ahead of the initial project completion date of mid-February 2015 as
published in the Q4 2014 operations update. The installation and process
tie in of the agglomeration drum impacted processing productivity for two
weeks straddling January and February.
-- The completion of the drum, which was performed in-house, will allow the
operations to focus on de-bottlenecking the heap leach operation,
increasing speed and capacity of the conveying systems and begin the
restart of the modified CIL plant.
There has been significant improvement in heap leach stacked tonnes during the first quarter of 2015 with 64,720 tonnes stacked in January, 87,441 tonnes stacked in February and 103,162 tonnes stacked in March for a first quarter 2015 total of 255,323 tonnes. Namoya poured 3,260 ounces in January, 2,687 ounces in February and 3,307 ounces in March for a first quarter 2015 total of 9,254 ounces of gold.
With the commissioning of the agglomeration circuit and debottlenecking during Q1 2015, it is anticipated that the gold production profile for the Namoya operations will rise incrementally from its current level of approximately 3,000 ounces per month achieved. With heap leach operations taking several months of continuous percolation to fully recover the leachable gold, the full benefits of the improvements to the heap leach circuit are expected to build up during Q2 2015 to a monthly gold production rate of 9,000 to 11,000 ounces per month during H2 2015.
The Company's preliminary 2015 first quarter production results for the Namoya mine, in comparison to the same quarter of 2014 and the previous quarter in 2014 are as follows:
Operating Q1 Q1 Q4
Metrics Units 2015 2014 2014
------------------ ------- ------- ------- -------
Total ore mined Tonnes 178,800 253,853 343,753
------------------ ------- ------- ------- -------
Total ore stacked Tonnes 255,323 129,372 218,248
------------------ ------- ------- ------- -------
Head grade g/t Au 1.97 1.91 2.33
------------------ ------- ------- ------- -------
Strip ratio t:t 2.93 1.81 1.08
------------------ ------- ------- ------- -------
Gold production Ounces 9,254 3,362 8,791
------------------ ------- ------- ------- -------
The production growth of the two operations combined with the improved cash flow and corporate financing, during Q1 2015 in particular, provides a strong foundation for maintaining steady state production at Twangiza and properly ramping up at Namoya to commercial production steady state.
Banro Corporation is a Canadian gold mining company focused on production from the Twangiza mine, which began commercial production September 1, 2012, and completion of its second gold mine at Namoya located approximately 200 kilometres southwest of the Twangiza gold mine. The Company's longer term objectives include the development of two additional major, wholly-owned gold projects, Lugushwa and Kamituga. The four projects, each of which has a mining license, are located along the 210 kilometre long Twangiza-Namoya gold belt in the South Kivu and Maniema provinces of the Democratic Republic of the Congo (the "DRC"). Led by a proven management team with extensive gold and African experience, the initial focus of the Company is on the mining of oxide material, which has a low capital intensity to develop but also attracts a lower technical and financial risk to the Company. All business activities are followed in a socially and environmentally responsible manner.
Cautionary Note to U.S. Investors
(MORE TO FOLLOW) Dow Jones Newswires
Ap
I will give the prediction now, Dollar Lower, Gold Higher, BAA Higher. The March jobs report showed tell-tale signs that the factory sector is struggling and the broader economy is feeling the impact. Private sector job growth slowed to the weakest pace since December of 2013, as manufacturing employment fell into contraction. While some economists will be quick to attribute this to port disruptions and weather, it is the view of Bloomberg Economics that this is the broader impact from a stronger dollar hurting the export sector as well as domestic industry.
Plenty of other data series have supported this notion recently. The downshift in service sector hiring provides a troubling sign that if the factory sector stumbles, it risks dragging many service sector categories with it -- the broader economy will not be able to remain immune. In the bigger picture, this may serve as a wakeup call to policy makers who have been dismissive of the impact of the strong dollar on portions of the economy outside of the export sector.
To be sure, this will give the Fed less confidence that the economy is ready to endure the policy liftoff as early as June, and it will bring into question the degree to which the economy will spring-back in the current quarter following near 1 percent growth in the first quarter.http://www.bloomberg.com/news/articles/2015-04-03/the-march-jobs-report-was-a-wake-up-call-about-the-impact-of-the-stong-dollar
Sounds like Trop is the next one to find out about shorting a stock that is on the move up, this is a tanked stock getting ready to run, not a run up stock getting ready to tank.