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Asset sale of Bruner from CSQ.C to EDR.T is now complete. 400k ounce deposit with major upside potential increasing the resource size means PGOL's 2% royalty just became a lot more valuable.
Canamex completes Bruner asset sale for $10M
2021-08-31 16:04 ET - News Release
Mr. David Vincent reports
COMPLETES SALE OF BRUNER PROJECT IN NYE COUNTY, NEVADA
Canamex Gold Corp., further to its press releases of July 19, 2021, and Aug. 16, 2021, and after the shareholders meeting on Aug. 25, 2021, which voted to approve the sale transaction to Endeavour Silver Corp., has now completed the sale of the Bruner property, located in Nye county, Nevada. Endeavour paid $10-million (U.S.) in cash for 100 per cent of the Bruner gold project, which includes mineral claims, mining rights, property assets, water rights, and government authorizations and permits.
Furthermore, the company also wishes to advise that going forward, management of the company intends to utilize the net proceeds to seek out and acquire other mineral properties/assets, and ultimately continue as a mineral exploration company.
About Canamex Gold Corp.
Canamex is a public listed company registered in British Columbia, Canada, trading on the Canadian Securities Exchange (CSE: CSQ).
PGOL Performance Chart - All Numbers In US Dollars
Year--- Total Assets--- Total Liabilities--- Total Revenue--- Gain/Loss--- Earnings
2018--- $764,892--- $53,056--- $46,504--- -$1,065,482--- (-$0.014)
2019--- $1,705,671--- $233,076--- $864,779--- -$281,443--- (-$0.0038)
2020--- $3,691,842--- $233,381--- $2,468,078--- $2,027,293--- $0.0273
2021(Q1-Q2)- $3,736,772--- $131,220--- $980,181--- $147,091--- $0.0020
Earnings were reduced in the first half of 2021 because PGOL spent over $300,000 more on mineral exploration compared to last year
Cub Energy Inc. Q2 2021 Financials + MD&A (All Information Can Be Found On Sedar)
Ticker Symbols: KUB.V & TPNEF.OTCQB
Price: $0.015
Common Shares: 314,215,355
Market Cap: $4.71 million CAD
Insider/Institutional Holdings: 172,466,105 or 55% of common shares
Options: 10,900,000 million
Most Recent Company Presentation: http://www.cubenergyinc.com/_resources/corporate-presentation.pdf
Financials – All Numbers Are Express In US Dollars (Ending June 30, 2021)
ASSETS
Cash & Equivalents: $5,137,000
Prepaid Expenses: $80,000
Trade & Other Receivables: $83,000
Equity Investments: $3,041,000
Property, Plant & Equipment: $1,817,000
Non-Current Receivables: $626,000
Total Assets: $10,784,000
LIABILITIES
Loan From KUB-Gas: $5,243,000
Trade & Other Payables: $3,646,000
Shareholder Loan: $938,000 – owed to prior CEO who also holds nearly half of company stock
Bank Loan(Current): $303,000
Bank Loan(Non Current): $454,000
Provisions: $342,000
Total Liabilities: $10,926,000
Quarterly Performance
Net Revenue: $2,071,000 – RK field was only producing for half of the quarter
Income From Equity Investment: $82,000
Operating Expenses + G&A: $1,670,000
Foreign Currency Loss: $35,000
Comprehensive Income: $448,000
Note: Cub Energy Inc. has now generated three quarters of back to back profits
Q4 2020 Profit: $165,000 USD
Q1 2021 Profit: $263,000 USD
Q2 2021 Profit: $483,000 USD
Total Profit Earned In 3 Quarters: $911,000 USD or $1.15 million CDN (based on current exchange rate)
MD&A Highlights For Q2 2021
• The Company reported net income of $746,000 or $0.00 per share during the six months ended June 30, 2021 as compared to a net loss of $1,900,000 or $0.01 per share during the comparative 2020 period. The Company benefited from higher natural gas prices.
• Energy generation of 2,253 MWh from the Jenbacher power generation project in Western Ukraine for the period of commencement in mid May 2021 to June 30, 2021 at an average price of $73/MWh.
• Netbacks of $19.17/boe or $3.20/Mcfe were achieved for the six months ended June 30, 2021 as compared to netback of $3.77/Boe or $0.63/Mcfe for the six month comparative period in 2020.
• Achieved average natural gas price of $6.50/Mcf and condensate price of $68.12/bbl during the six months ended June 30, 2021 as compared to $2.77/Mcf and $33.01/bbl for the comparative 2020 period. The increase in commodity prices is due, in large part, to a colder European winter, the lessening global impacts of COVID-19 and geopolitical events.
• Production averaged 532 boe/d (97% weighted to natural gas and the remaining to condensate) for the six months ended June 30, 2021 as compared to 648 boe/d for the comparative 2020 period.
• In May 2021, the Company commenced commercial production of its Jenbacher gas power generation units that are converting natural gas produced from its wholly-owned RK gas field into power that is being sold in western Ukraine at local market rates.
• On April 30, 2021, the Company announced it had entered into a share purchase agreement (“SPA”) to sell its 50% interest in CNG Holdings, which indirectly owns the Uzhgorod licence in western Ukraine. In consideration, the Company is to receive €800,000 (US $970,000) for its 50% interest in CNG Holdings. The consideration consists of €600,000 (US $728,000) in cash on closing and €200,000 (US $242,000) is a contingent payment on certain future events including a commercial discovery. The closing is subject to certain conditions including Ukraine regulatory approval and is expected to close in Q4 2021.
• The company is monitoring recommendations by the public health authorities related to COVID-19 in all its operating regions and is adjusting operational requirements as required. All of the Company's facilities remain fully operational.
Western Ukraine Tysagaz Assets (100% Interest)
The Company commenced power generation in mid-May 2021 through two Jenbacher gas power generation engines that are converting the natural gas produced from the RK field into power that is being sold in western Ukraine at local market rates. The power generation units have the capacity to produce as much as 3 megawatts (“MW”) of power utilizing the 100% owned RK gas field.
Eastern Ukraine KUB-Gas Assets (35%)
There are approximately ten recompletion opportunities with “behind pipe pays” that Kub-Gas is reviewing with one recompletion planned for the third quarter of 2021. As the currently producing intervals deplete, the production team can recomplete these additional zones in the existing wells. Kub-Gas uses its own completion equipment and personnel. Kub-Gas is also planning on drilling an exploration well in 2021 on the Olgovskoye licence (well O-114) to a depth of approximately 2,800 meters that will target multiple zones.
Western Ukraine CNG Assets (50% Interest)
On April 30, 2021, the Company announced it had entered into an agreement to sell its 50% interest in CNG Holdings, which indirectly owns the Uzhgorod licence in western Ukraine. In consideration, the Company is to receive €800,000 (US $970,000) for its 50% interest in CNG Holdings. The consideration consists of €600,000 (US $728,000) in cash on closing and €200,000 (US $242,000) is a contingent payment on certain future events including a commercial discovery. The closing is subject to certain conditions including Ukraine regulatory approval and is expected to close in Q4 2021.
Ukraine Currency
The Ukrainian exchange, the Hryvnya (“UAH”) rate versus the USD was 27.18 UAH/USD at June 30, 2021, which appreciated approximately 5% as compared to the 28.27 UAH/USD at December 31, 2020.
Cub Energy earns $483,000 (U.S.) in Q2 2021
2021-08-25 14:44 ET - News Release
Mr. Patrick McGrath reports
CUB ENERGY ANNOUNCES SECOND QUARTER RESULTS
Cub Energy Inc. has released its unaudited financial and operating results for the interim six months ended June 30, 2021. All dollar amounts are expressed in United States dollars unless otherwise noted. This update includes results from Kub-Gas LLC, which Cub has a 35-per-cent equity ownership interest, Tysagaz LLC, Cub's 100-per-cent-owned subsidiary, and CNG LLC, which Cub has a 50-per-cent equity ownership interest.
Patrick McGrath, chief executive officer of Cub, said: "We are pleased to report $1,488,000 in profit from our gas trading business during the six months ended June 30, 2021, which resulted in the company reporting net income of $746,000 for same period. This was the best net income growth in over two years. Other significant accomplishments during the current period include the commencement of commercial production of the new power generation business and entering into an agreement to divest its non-core western Ukraine licence for proceeds of up to approximately $1-million."
Operational highlights
Achieved average natural gas price of $6.50/Mcf (thousand cubic feet) and condensate price of $68.12/bbl (barrel) during the six months ended June 30, 2021, as compared with $2.77/Mcf and $33.01/bbl for the comparative 2020 period. The increase in commodity prices is due, in large part, to a colder European winter, the lessening global impacts of COVID-19 and geopolitical events.
The company's two Jenbacher power units were installed and commenced commercial production in the second quarter of 2021. The power generation units produced 2,253 megawatts an hour (MWh) for the period of commencement in mid-May, 2021, to June 30, 2021, at an average price of $73/MWh.
Production averaged 532 boe/d (barrels of oil equivalent per day) (97 per cent weighted to natural gas and the remaining to condensate) for the six months ended June 30, 2021, as compared with 648 boe/d for the comparative 2020 period.
On April 30, 2021, the company announced it had entered into a share purchase agreement (SPA) to sell its 50 per cent interest in CNG Holdings, which indirectly owns the Uzhgorod licence in western Ukraine. In consideration, the company is to receive 800,000 euros ($970,000 (U.S.)) for its 50-per-cent interest in CNG Holdings. The consideration consists of 600,000 euros ($728,000 (U.S.)) in cash on closing and 200,000 euros ($242,000 (U.S.)) is a contingent payment on certain future events including a commercial discovery. The closing is subject to certain conditions including Ukraine regulatory approval and is expected to close in Q4 2021.
Financial highlights
The gross profit on the company's gas trading business increased to $1,488,000 during the six months ended June 30, 2021, as compared with $332,000 in gross profit in the comparative 2020 period.
The company reported net income of $746,000 or zero cents per share during the six months ended June 30, 2021, as compared with a net loss of $1.9-million or one cent per share during the 2020 comparative period.
Netbacks of $19.17/boe or $3.20/Mcfe were achieved for the six months ended June 30, 2021, as compared with netback of $3.77/Boe or $0.63/Mcfe for the six-month comparative period in 2020.
Reader advisory
With the current cash resources, negative working capital, fluctuating commodity prices, currency fluctuations, reliance on a limited number of customers, the company may not have sufficient cash to continue the exploration and development activities. These matters raise significant doubt about the ability of the company to continue as a going concern and meet its obligations as they become due.
Supporting documents
Cub's complete interim reporting package, including the unaudited consolidated interim financial statements and associated management's discussion and analysis, have been filed on SEDAR and have been posted on the company's website.
About Cub Energy Inc.
Cub Energy is a power and upstream oil and gas company, with a proven record of exploration and production cost-efficiency in Ukraine. The company's strategy is to implement western technology and capital, combined with local expertise and ownership, to increase value in its undeveloped land base, creating and further building a portfolio of assets within a high-commodity-price environment.
We seek Safe Harbor.
Cadillac Ventures stakes 18 more claims at Burnt Hill
2021-08-24 09:50 ET - News Release
Mr. Norman Brewster reports
CADILLAC INCREASES SIZE OF THE "TIN HILL" MINERALIZED TIN, TUNGSTEN OCCURRENCE IN NEW BRUNSWICK
Cadillac Ventures Inc. has completed a geological prospecting program over the Tin Hill area of its Burnt Hill property in New Brunswick. The program investigated a 2.50-kilometre by 1.5-kilometre area centred on the exposed Tin Hill tin, tungsten mineralization. Within the area numerous new showings were located which demonstrated pervasive tin mineralization accompanied by tungsten. These findings significantly increase the domain of mineralization at Tin Hill. Samples were obtained at these locations and delivered to ALS in Moncton for analysis. Results will be released as they become available.
Due to the visual nature of the tin mineralization encountered in this program Cadillac has staked an additional 18 claims in order to fully encompass the now enlarged mineralized area and potential strike extensions.
Mineralization occurs in quartz veins ranging in size up to several metres wide, greisen zones and greise-encased quartz-filled fractures associated with what is believed to be the fluid enriched apical portion (Tin Hill) of a cupola associated with the Burnt Hill pluton. Efforts were made to locate the granite/sediment contact surrounding Tin Hill, all features outlined above along with associated mineralization occur within the contact area. Numerous samples of mineralized material and non-mineralized rock were acquired for thin section analysis and description for mineral and rock identification purposes, this work will be carried out by Martin Demers, geo.
About Burnt Hill
The Burnt Hill property, discovered in 1869 by the Geological Survey of Canada, covers 3,395 hectares of ground in central New Brunswick and hosts molybdenite, tungsten and tin mineralization. In addition to this Cadillac has carried out the first evaluation of the rare earth elements present at Burnt Hill. The Burnt Hill property encompasses several areas of interest, including the Burnt Hill mine, and has a large amount of unexplored but highly prospective ground. The Burnt Hill mine has a shaft and a decline in place and was operated to the pilot plant stage in the 1980s, where it was proven that the tungsten mineralization, at the time the only focus of operations, could be concentrated using photometric sorting technology, ahead of processing, to discard the waste rock.
Spectra Products to offer Optimum Fleet program
2021-08-18 10:47 ET - News Release
Mr. Andrew Malion reports
SPECTRA PRODUCTS INC. ANNOUNCES SIGNING RESELLER AGREEMENT WITH OPTIMUM FLEET HEALTH
Spectra Products Inc. has signed a reseller agreement with Optimum Fleet Health, the leader in predictive maintenance solutions using artificial intelligence to reduce or eliminate unplanned repairs and unscheduled downtime in the transportation industry in North America.
Under this agreement Spectra Products Inc. will offer the Optimum Fleet Health program to its existing Fleet customers and potential prospects in Canada and the United States through direct contact with senior management at these fleets.
"We are very excited about our new partnership with Spectra. This will allow Spectra's existing fleet customers to harness the full capabilities of Optimum Fleet Health's predictive maintenance software. Maintenance teams can now analyze their fleet using a real-time predictive system rather than time or calendar-based maintenance. The solution provides the client with the opportunity to reduce unscheduled downtime and eliminate inefficient processes of overstocking parts and double scheduling of assets. From the technician's perspective, diagnostics time for troubleshooting can be reduced by as much as 80%." says Optimum's CEO Bob Moran.
This is a mutually beneficial agreement that will allow Optimum Fleet Health to present Spectra Products' wheel end safety products to their existing customer base of over 100,000 vehicles.
Optimum Fleet Health's predictive maintenance solution helps businesses detect unforeseen vehicle issues, diagnose the cause, predict relative time to failure, and prescribe a detailed resolution path up to four weeks in advance. Optimum uses data transmitted from telematics devices to analyze thousands of key performance indicators, allowing maintenance managers to monitor the health of assets in real-time. Any anomalies of system components will trigger maintenance events to be prioritized, scheduled, and corrected before they lead to unplanned downtime.
"We have already had very positive response from an initial group of customers that are excited about starting trials with the Predictive AI technology of Optimum Fleet Health" said Andrew Malion President of Spectra Products Inc." "With on the road repairs costing on the average of four times as much as a repair in the shop, fleets are looking for ways to reduce unnecessary maintenance costs and Optimum Fleet Health can reduce these costs dramatically" Spectra Products will receive a recurring monthly fee for each vehicle on the Optimum Fleet Health program introduced by Spectra Products Inc.
Spectra Products Inc. is the Toronto-based North American designer, manufacturer and distributor of wheel end safety products to the transportation industry. These products include Brake SafeO, Brake InspectorO, Zafety Lug LockO,the Termin-8RO line of Electric Vehicle protection for charging ports and charging stations, anti-corrosion, extreme pressure lubricants, Hub Alert, and the Anti-Seize Cotter Pin(TM). Learn more at www.spectraproducts.ca
Optimum Fleet Health is a leader in predictive maintenance analytics for diesel-powered fleets. Our mission is to help clients improve the overall safety, efficiency, and functionality of operational assets. We focus on adding instant value for each company we support by helping fleets immediately reduce operational costs and disruptions from unplanned maintenance activities. Simply put - Optimum Drives Uptime by anticipating breakdowns weeks in advance. We achieve this by using predictive analytics to leverage a vehicle's historical data profile, and couple it with our industry-leading in-depth technical knowledge to deliver accurate and early identification of mechanical issues. This intelligence is driven by our proprietary Optimum VRx engine, which uses our Enginetics(TM) database to analyze more than 8,000 key performance indicators. Optimum VRx analysis changes hindsight to foresight by enabling your maintenance organization to predict system failures or quality issues before they happen. On top of our artificial intelligence learning models, Optimum Fleet Health has industry-leading mechanics on staff that analyze and validate each diagnostic event. Our mechanics ensure the notifications your managers receive are relevant and critical to operational success. Learn more at www.optimumfleethealth.com
We seek Safe Harbor.
Patriot Gold Corp Q2 2021 Results Summary
All information below can be found at www.Sedar.com
Stock Ticker: PGOL - Same ticker for Canadian & US Exchanges
Price: $0.105 CDN & $0.09 USD
Common Shares: 74,319,957
Insider Holdings: 36,752,750 or 49.5% - See Annual Information
Institutional Holdings: 3 million - https://royaltystreams.com/wp-content/uploads/2019/05/Royalty-Streams-Corp-Presentation-May.pdf
Company Website: www.patriotgoldcorp.com
Financials (Ending June 30th 2021) - All numbers are in US Dollars
ASSETS
Cash: $1,307,703
Marketable Securities: $198,256
Royalty Receivables: $980,182
Prepaid Expenses: $85,631
Long Term Assets: $1,165,000
Total Assets: $3,736,772
LIABILITIES
Accounts Payable: $57,980
Accounts Payable(Related Parties): $73,240
Total Liabilities: $131,220
2021 6 Month Revenue Performance
Royalty payments: $980,181
Net Income: $147,091
Note 1: Net income down year over year due to money being spent on drilling of Windy Peake & Rainbow properties
Note 2: Canamex recently announced a definitive agreement to sell it’s Bruner gold property in Nevada to Endeavour Silver. Although the property has only been partially explored, there is a historic resource of approximately 400,000 ounces of gold, which could be significantly increased with more drilling. Unlike Canamex which is practically bankrupt, Endeavour Silver has nearly a billion dollar market cap and more than capable of putting this asset into production down the road.
MD&A Highlights
Vernal Property
The Vernal Property is located approximately 140 miles east-southeast of Reno, Nevada on the west side of the Shoshone Mountains. The Company holds the property via 12 unpatented mining claims (approximately 248 acres). The Company has a 100% interest in the Vernal property, subject to an existing royalty. As of June 30, 2021, the Company has incurred approximately $89,616 of accumulated option and exploration expenses on the Vernal property. During the six months ended June 30, 2021 and 2020, the Company incurred no exploration expenses on the Vernal property.
Moss Mine Property
In 2004, the Company obtained a 100% interest in a number of patented and unpatented mining claims known as the Moss Mine property located in the Oatman Mining District of Mohave county Arizona. In 2011, the Company entered into an Exploration and Option to Enter Joint Venture Agreement (the “Moss Agreement”), with Idaho State Gold Company, LLC, (“ISGC”) whereby the Company granted the option and right to earn a vested seventy percent (70%) interest in the property and the right and option to form a joint venture for the management and ownership of the properties called the Moss Mine, Mohave County, Arizona. Subsequently, ISGC transferred its rights to Northern Vertex Mining Corp. (“Northern Vertex”). In 2016, it was determined that Northern Vertex had met the required conditions to earn an undivided 70% interest in the Moss Mine. As such, the Company entered into a material definitive Agreement for Purchase and Sale of Mining Claims and Escrow Instructions (the “Purchase and Sale Agreement”) with Golden Vertex Corp., an Arizona corporation (“Golden Vertex,” a wholly-owned Subsidiary of Northern Vertex) whereby Golden Vertex agreed to purchase the Company’s remaining 30% working interest in the Moss Mine for $1,155,600 (C$1,500,000) plus a 3% net smelter return royalty. See Note 4 for additional information regarding the royalty from the Moss Mine.
Windy Peak
Property The Windy Peak Property, (“Windy Peak”) consists of 114 unpatented mineral claims covering approximately 2,337 acres, 3 miles NNE of the Bell Mountain and 7 miles east of the Fairview mining district in southwest Nevada. Annual maintenance fees paid to the BLM and recording fees must be paid to the respective county on or before September 1 of each year to keep the claims in good standing, provided the filings are kept current these claims can be kept in perpetuity. As of June 30, 2021, the company has incurred approximately $1,092,628 of exploration expenses on the Windy Peak Property, and $275,700 and $95,498 were spent for the six months ended June 30, 2021 and 2020, respectively.
Rainbow Mountain
Property The Rainbow Mountain gold project consists of 81 unpatented lode claims totaling approximately 1,620 contiguous acres, located approximately 23 km southeast of Fallon, in the state of Nevada. Access to the project area is by paved highway, followed by a short stretch of gravel road. Annual maintenance fees paid to the BLM and recording fees must be paid to the respective county on or before September 1 of each year to keep the claims in good standing, provided the filings are kept current these claims can be kept in perpetuity. As of June 30, 2021, the company has incurred approximately $327,499 of fees and exploration expenses on the Rainbow Mountain Property, and $98,142 and $11,937 were spent for the six months ended June 30, 2021 and 2020, respectively.
NOTE 4 – ROYALTY INTERESTS
Pursuant to the Purchase and Sale Agreement with Golden Vertex, the Company’s has a 3% net smelter return royalty on the Moss Mine in Arizona. For the six months ended June 30, 2021 and 2020, the Company earned royalties of $980,181 and $929,780, respectively. As of June 30, 2021 and December 31, 2020, the Company had Royalties Receivables of $980,182 and $1,076,130, respectively.
Pursuant to the Bruner Purchase and Sale Agreement with Canamex Resources dated April 25, 2017, the Company has a 2% net smelter return (“NSR”) royalty on the Bruner Gold/Silver mine in Nevada, including any claims acquired within a two-mile area of interest around the existing claims. Canamex has the option to buy-down half of the NSR royalty retained by Patriot for $5 million any time during a five-year period following closing of the purchase and sale agreement. As of June 30, 2021, no royalties have yet been earned.
In March 2019, the Company purchased a Vanadium Oxide royalty interest from a related party. In exchange for a non-refundable payment of $300,000, the Company will receive royalties based on the gross production of Vanadium Oxide (“Vanadium”) from a bitumen deposit covering oil sands leases in the Cadotte area of Peace River, Alberta. For each barrel of bitumen produced from the specified oil sands until March 21, 2039, or upon termination of mining, whichever is earlier, the Company will be paid a royalty equal to 25 grams of Vanadium per barrel of bitumen produced, multiplied by the price of Vanadium Pentoxide 98% min in-warehouse Rotterdam published on the last business day of the month in which the gross production of bitumen occurred. While management believes the royalty interest continues to have value, there is no defined timeline to begin production of Vanadium and as such, as of June 30, 2021, the Company has fully impaired the royalty asset.
East West Petroleum Provides Operational Update for New Zealand
2021-08-11 06:01 ET - News Release
Vancouver, British Columbia--(Newsfile Corp. - August 11, 2021) - East West Petroleum Corp. (TSXV: EW) ("East West" or the "Company") is pleased to provide the following operational update for New Zealand.
A workover of the Cheal E1 and E2 wells to clear downhole wax and sand issues has been recently completed and was successful in re-establishing production in both wells.
The Cheal E field is now producing at an approximate 250 barrels oil equivalent per day, of which about 80% is oil. A trial of a two-stage downhole pump in Cheal E1 proved to be too vulnerable to sand production issues and was replaced with a single stage downhole pump as previously employed. This is working reliably. Plans are in place to increase flow in the near future.
About East West Petroleum Corp.
East West Petroleum Corp. (www.eastwestpetroleum.ca) is a TSX Venture Exchange listed company established in 2010 to invest in international oil & gas opportunities. The Company has its primary focus on two key areas: New Zealand, where it has established production and cash flow and Romania where it is carried to production on an exploration program. In Romania the Company has exploration rights in four exploration concessions covering 1,000,000 acres in the prolific Pannonian Basin of western Romania with Naftna Industrija Srbije ("NIS"). The Company does not own the acres but has exploration rights.
Neither the 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.
Nick Demare
ndemare@chasemgt.com
Tel: (604) 685-9316
Cadillac Commences Summer 2021 Exploration Program at Tin Hill Tin Tungsten Occurrence in Central New Brunswick
https://www.thenewswire.com/press-releases/1AlpF6d6Y-cadillac-commences-summer-2021-exploration-program-at-tin-hill-tin-tungsten-occurrence-in-central-new-brunswick.html
TORONTO, Ont. - TheNewswire - July 29, 2021 – Cadillac Ventures Inc. ("Cadillac" or the “Company”) (TSXV:CDC) Cadillac Ventures is pleased to advise shareholders that the Summer 2021 Prospecting Program on Cadillac’s Burnt Hill Property has commenced. This program will focus on the “Tin Hill” area of the property, approximately 3km N/NE of the Burnt Hill Mine area, where the hill has been previously stripped to expose a greisenised granite with stockwork quartz veining that hosts visible cassiterite (tin) and wolframite (tungsten), as pictured below. Also documented, by Cadillac and historically, is the presence of rare earth elements (REEs) in quartz veining.
Tin Hill Hand samples, visible Cassiterite
Click Image To View Full Size
Click Image To View Full Size
Previous work at Tin Hill, focused on the flanks of the Hill and prospecting for extension to the historically stripped area, uncovered several new instances of quartz veining carrying cassiterite, wolframite, bismuth, thorium and low levels of molybdenite. Previous work successfully found extensions of the vein systems and returned assays as high as 1.48% Sn in a grab sample from the “Two Trunks” vein and 1.8% W in a grab sample from the “Waterfall” vein (Burnt Hill Tungsten-Molybdenum-Tin Property, Stanley Parish, York County, New Brunswick prepared for Cadillac Ventures Inc. by Southampton Associates Inc. August 1, 2013). Grab samples are preferential in nature and not reflective of the entirety of the mineralized system at Tin Hill.
Click Image To View Full Size
The current program will revisit the areas of previous work and prospect for new mineralization, evaluating the mineralized system and in order to extend mineralization if successful. The mineralization at Tin Hill is believed to be part of a fracture related tin tungsten system associated with a pervasive hydrothermally altered region. This is occurring with an underlying granitic cupola.
The geological location map of Tin Hill included above is excerpted from H.E. MacLellan , R.P. Taylor and W.W. Gardiner , Mineral Resource Report 4 Geology and Geochemistry of Middle Devonian Burnthill Brook Granites and related Tin-Tungsten Deposits, York and Northumberland Counties , New Brunswick.
Technical information included in this press release has been approved by Norman E. Brewster P.Geo, President and CEO of Cadillac Ventures, in his capacity as a geologist. Images used are Mr. Brewster’s personal hand samples.
About Burnt Hill
The Burnt Hill Property, discovered in 1869 by the Geological Survey of Canada, covers 3,395 hectares of ground in central New Brunswick and hosts molybdenite, tungsten and tin mineralization. In addition to this Cadillac has carried out the first evaluation of the rare earth elements present at Burnt Hill. The Burnt Hill Property encompasses several areas of interest, including the Burnt Hill mine, and has a large amount of unexplored but highly prospective ground. The Burnt Hill mine has a decline in place and was operated to the pilot plant stage in the 1980’s, where it was proven that the tungsten mineralization, at the time the only focus of operations, could be concentrated using x-ray sorting technology, ahead of processing, to discard the white quartz waste rock.
Cautionary statement regarding forward–looking statements
This press release contains 'forward-looking statements' within the meaning of applicable securities laws. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by words such as the following: "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "assumes", "potential" and similar expressions. Forward-looking statements also include reference to events or conditions that will, would, may, could or should occur, including, without limitation, statements and expectations. These forward-looking statements are necessarily based upon a number of estimates and assumptions that, while based on Cadillac’s respective expectations and considered reasonable at the time they were made, are inherently subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements, including those described in Cadillac's respective public disclosure documents on SEDAR at www.sedar.com. As a result, readers are cautioned not to place undue reliance on these forward-looking statements. The forward-looking statements contained in this press release are made as of the date of this release. Unless required by law, Cadillac does not intend to, or assume any obligation to, update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
For further information, please visit Cadillac's website www.cadillacventures.com, or contact Norman Brewster, President and Chief Executive Officer, at 905-837-2000.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this new release.
Me too. My guess is they will likely wait until Q2 results, which should be out in a month.
Patriot Gold drills 170 ft of 0.629 ppm Au at Windy
https://www.stockwatch.com/News/Item/Z-C!PGOL-3115446/C/PGOL
Patriot Gold drills 170 ft of 0.629 ppm Au at Windy
2021-07-26 10:31 ET - News Release
Mr. Trevor Newton reports
PATRIOT GOLD ANNOUNCES RESULTS FROM DRILLING PROGRAM AT WINDY PEAK GOLD PROJECT IN NEVADA
Patriot Gold Corp. has released results from its recent drilling program at the Windy Peak gold project in Churchill county, Nevada. The drilling program was designed to follow up 2019 drilling results in the Windy Flats North area and to target historic drill intercepts in the Windy Peak Base and Windy Flats South target areas.
Drilling commenced in January, 2021, and consisted of 12 drill holes totalling 5,005 feet: five drill holes in the Windy Peak Base target area, three drill holes at Windy Flats North and four drill holes in the Windy Flats South target area. Drill hole locations and orientations were selected with the intent of confirming the presence of and better defining the extent of previously encountered zones of mineralization.
Assay results from drilling at Windy Peak Base indicate one or more mineralized zones dipping approximately 30 degrees to the east or 40 degrees to the northeast. The mineralized drill intercepts are thought to slightly exaggerate the true thickness of mineralization, given the northwest-angled orientation of the drill holes and the east-dipping to northeast-dipping nature of the mineralization. Significant intercepts from the Windy Peak Base are presented in an attached table.
At Windy Flats North, a fence of three drill holes was designed to test the eastern, downdip extent of mineralization identified during 2019 drilling. Due to the limited amount of drilling in the area, the orientation and true thickness of mineralization are not known. Significant intercepts from the drilling at Windy Flats North are presented in an attached table.
At Windy Flats South, the four drill holes were designed to test historic intercepts and all encountered anomalous gold mineralization. Significant intercepts include five feet grading 6.57 parts per million (ppm) gold (Au) and 10 feet grading 20.35 ppm Au (drill holes PGWP21-11 and PGWP21-12, respectively). Due to the limited amount of drilling in the area, the orientation and true thickness of mineralization are not known. Significant intercepts from Windy Flats South are presented in an attached table.
Qualified person: The foregoing technical information contained in this news release has been reviewed and verified by Zachary J. Black, a director and a qualified person (QP) for National Instrument 43-101 (Standards of Disclosure for Mineral Projects).
About Patriot Gold Corp.
Patriot is exploring its 100-per-cent-owned gold projects in Nevada, which include the Windy Peak gold project, Rainbow Mountain gold project and Vernal gold project. Patriot owns a 3-per-cent royalty in the Moss mine in Arizona, now in commercial production. Patriot also owns a 2-per-cent royalty in the Bruner gold project in Nevada.
Spectra earns $111,571 before taxes in Q2 2021
2021-07-26 10:11 ET - News Release
Mr. Andrew Malion reports
SPECTRA PRODUCTS PRESS RELEASE REPORT 29TH QUARTER OF OPERATIONAL PROFIT
Spectra Products Inc. has released its financial results for the six months ended June 30, 2021.
Revenues for the six-month period ending June 30, 2021, were $880,941 compared with $841,277 for the same period in 2020. Revenues for the second quarter ending June 30, 2021, were $391,237 compared with $305,351 for the same period in 2020.
In the six-month period ended June 30, 2021, net income before taxes of $190,260 was earned compared with net income before taxes of $251,375 for the same period in 2020. In the second quarter ended June 30, 2021, net income before taxes of $111,571 was earned compared with net income before taxes of $74,862 for the same period in 2020.
The main factors that contributed to the $61,115 decrease in six-month net income was an $83,980 expense in 2021 as a result of the issuance of director and employee stock options. There was no comparable expense in 2020.
As at June 30, 2021, cumulative other comprehensive income, representing the after-tax realized and unrealized gains on investments, totaled $65,797.
Spectra Products Inc. is the Toronto-based North American designer, manufacturer and distributor of wheel end safety products to the transportation industry. These products include Brake SafeO, Brake InspectorO, Zafety Lug LockO, Hub Alert and the Anti-Seize Cotter Pin as well as the Termin-8RO line of anti-corrosion and extreme pressure lubricants.
We seek Safe Harbor.
Canamex To Sell Bruner To Endeavour Silver - PGOL Owns 2% NSR On The Project. Roughly 500,000 ounces of gold already proven with only a fraction of the property explored.
2021-07-19 14:10 MT - News Release
Mr. David Vincent reports
CANAMEX ENTERS INTO DEFINITIVE AGREEMENT TO SELL BRUNER PROPERTY
Canamex Gold Corp. has entered into an asset purchase agreement with Endeavour Silver Corp. pursuant to which Endeavour will acquire a 100-per-cent interest in the company's Bruner gold property, located in Nye county, Nevada, including mineral claims, mining rights, property assets, water rights, and government authorizations and permits, for a purchase price of $10-million (U.S.) payable in cash. Completion of the proposed transaction contemplated by the agreement is subject to all necessary approvals, including the approval of the shareholders of the company and customary regulatory approvals.
Special meeting of the shareholders of the company
As the proposed transaction constitutes the disposition of substantially all of the company's assets, the company is holding a special meeting of its shareholders on Aug. 25, 2021, to seek approval by a special resolution of the shareholders for the transactions contemplated by the agreement. The record date for the meeting will be July 19, 2021. Additional information about the proposed transaction and the agreement will be contained in a management information circular, which will be sent to the company's shareholders and filed on the company's SEDAR profile prior to the meeting.
About Canamex Gold Corp.
Canamex is a publicly listed company registered in British Columbia, Canada, trading on the Canadian Securities Exchange and is engaged in predevelopment of the Bruner gold and silver project in the prolific gold jurisdiction of Nye county, Nevada.
We seek Safe Harbor.
From Cub Energy's News Letter This Week:
Cub Energy welcomes you to view the below video demonstrating Cub's transition in western Ukraine to power generation. The project is located in the Transcarpathian Basin bordering Hungary, Slovakia and Romania. Cub invested in the power generation business to utilize its existing natural gas field and to supply energy to an area that is underserved. The Company continues to explore further opportunities including clean technology initiatives.
http://www.cubenergyinc.com/media_centre/gallery/
Ndassima gold mine: Touadéra seeks a compromise with the Canadian company Axmin
This article came out June 8th 2021 via African Intelligence, the same site that first reported Axmin losing their mineral rights in 2020. Therefore the credibility of this website's intel has legitimacy.
Below is the paid link, and also the free link, which has been translated from French to English:
https://www.africaintelligence.com/mining-sector_financing-and-advisory/2021/06/08/touadera-seeks-compromise-with-axmin-over-ndassima-goldmine,109671815-art
https://corbeaunews-centrafrique.com/mine-dor-de-ndassima-touadera-cherche-un-compromis-avec-la-societe-canadienne-axmin/
Ndassima gold mine: Touadéra seeks a compromise with the Canadian company Axmin
Through Corbeaunews Central African Republic -Posted on June 8, 2021, 8:56 AM
Bangui, Central African Republic, Wednesday, June 9, 2021 (Corbeaunews - Centrafrique). The Central African state and the Canadian mining company Axmin, headed by Chinese businesswoman Lucy Yan, have entered into discreet negotiations to end the dispute over the Ndassima gold mine and avoid costly proceedings. arbitration. A thorny issue behind which hovers the shadow of Moscow.
The Central African state will soon enter into discussions with the Canadian junior Axmin and its subsidiary in Bangui Aurafrique in the Ndassima case, in reference to the eponymous gold-rich zone in the center of the country. The deposit is one of the most important gold veins in the Central African Republic and the only one to enjoy known “industrial” potential. The Canadian junior protests against the cancellation, in July 2019, of its two exploration permits and its exploitation license for the gold of Passendro, Bambari I and Bambari II, in the area of ??Ndassima, acquired at the beginning of the years 2000. The Central African State emphasizes the absence of exploitation, when Axmin, for his part, invokes a “case of force majeure”, the territory being occupied by armed groups since 2012.
The two parties are currently finalizing the organization of a mediation with the International Arbitral Chamber of Paris (ICC), which should take place in the coming weeks. The aim is to avoid the arbitration stage, a long and costly process.
The mediation will be led by the lawyer and property manager Laï Kamara. Axmin, headed by Chinese businesswoman Lucy Yan, is defended by Crépin Mboli-Goumba, lawyer and unsuccessful 2020 presidential candidate (3.16% of the vote, AI of 05/18/20). On the Central African side, no less than three lawyers will assist the Minister of Mines Léopold Mboli Fatran and the Keeper of the Seals Flavien Mbata (or their possible representatives): the Bâtonnier Emile Bizon, Jean-Paul Veketo and Constant Gouyomgbia Kongba-Zeze. The installation of the mediation had been delayed, the last three having not been paid since the treatment of the case by the Central African State Council in April 2020. The high court declared itself incompetent to judge the folder,
“Abuse of power” and “amicable settlement”
The cancellation of the contract in July 2019 was managed directly by the cabinet of Minister Mboli Fatran, in close collaboration with the presidential palace. But it had aroused many disapproval at the top of the Central African administration, raising concerns about the consequences of legal proceedings.
Thus, a report written in 2020 by Rufin Benam Beltoungou, the natural resources advisor to President Faustin-Archange Touadéra, advised “to favor an amicable settlement” and even to “simply reverse this decision to withdraw”. Another report, this time from the High Authority for Good Governance dated April 24, 2020, concluded that there had been an “abuse of power by the Ministry of Mines”, a “misinterpretation” of the law and advocated a “settlement to the amicable ”of the dispute. It is therefore this last avenue which is favored today by the parties.
Laï Kamara decorated by Russia in 2013
The Central African state had issued a new call for tenders, won in February 2020 by Midas Resources, a Malagasy company represented by Final Leandric Rabenatoandro and regularly presented as close to Russian interests in the country. Since its arrival in 2018, the Russian paramilitary group Wagner, which has a strong presence in the Central African Republic, has taken a keen interest in the mining sector. Two Russian mining companies active in the country, Lobaye Invest and M-Finans, were sanctioned by the US Treasury in September 2020 for their links with Yevgeny Prigozhin, a Russian oligarch close to Vladimir Putin and Wagner.
The future mediator, Laï Kamara, for his part received in 2013 the Order of Friendship from the hands of Vladimir Kozhin, ex-KGB, close collaborator of Vladimir Poutine in the Kremlin and under sanctions of the American Treasury since 2014. The French lawyer had, in 2013, won a long legal battle for the benefit of the Russian state over the Orthodox Saint-Nicolas cathedral in Nice, which pitted it against a local association.
Ndassima gold mine: Touadéra seeks a compromise with the Canadian company Axmin
This article came out June 8th 2021 via African Intelligence, the same site that first reported Axmin losing their mineral rights in 2020. Therefore the credibility of this website's intel has legitimacy.
Below is the paid link, and also the free link, which has been translated from French to English:
https://www.africaintelligence.com/mining-sector_financing-and-advisory/2021/06/08/touadera-seeks-compromise-with-axmin-over-ndassima-goldmine,109671815-art
https://corbeaunews-centrafrique.com/mine-dor-de-ndassima-touadera-cherche-un-compromis-avec-la-societe-canadienne-axmin/
Ndassima gold mine: Touadéra seeks a compromise with the Canadian company Axmin
Through Corbeaunews Central African Republic -Posted on June 8, 2021, 8:56 AM
Bangui, Central African Republic, Wednesday, June 9, 2021 (Corbeaunews - Centrafrique). The Central African state and the Canadian mining company Axmin, headed by Chinese businesswoman Lucy Yan, have entered into discreet negotiations to end the dispute over the Ndassima gold mine and avoid costly proceedings. arbitration. A thorny issue behind which hovers the shadow of Moscow.
The Central African state will soon enter into discussions with the Canadian junior Axmin and its subsidiary in Bangui Aurafrique in the Ndassima case, in reference to the eponymous gold-rich zone in the center of the country. The deposit is one of the most important gold veins in the Central African Republic and the only one to enjoy known “industrial” potential. The Canadian junior protests against the cancellation, in July 2019, of its two exploration permits and its exploitation license for the gold of Passendro, Bambari I and Bambari II, in the area of ??Ndassima, acquired at the beginning of the years 2000. The Central African State emphasizes the absence of exploitation, when Axmin, for his part, invokes a “case of force majeure”, the territory being occupied by armed groups since 2012.
The two parties are currently finalizing the organization of a mediation with the International Arbitral Chamber of Paris (ICC), which should take place in the coming weeks. The aim is to avoid the arbitration stage, a long and costly process.
The mediation will be led by the lawyer and property manager Laï Kamara. Axmin, headed by Chinese businesswoman Lucy Yan, is defended by Crépin Mboli-Goumba, lawyer and unsuccessful 2020 presidential candidate (3.16% of the vote, AI of 05/18/20). On the Central African side, no less than three lawyers will assist the Minister of Mines Léopold Mboli Fatran and the Keeper of the Seals Flavien Mbata (or their possible representatives): the Bâtonnier Emile Bizon, Jean-Paul Veketo and Constant Gouyomgbia Kongba-Zeze. The installation of the mediation had been delayed, the last three having not been paid since the treatment of the case by the Central African State Council in April 2020. The high court declared itself incompetent to judge the folder,
“Abuse of power” and “amicable settlement”
The cancellation of the contract in July 2019 was managed directly by the cabinet of Minister Mboli Fatran, in close collaboration with the presidential palace. But it had aroused many disapproval at the top of the Central African administration, raising concerns about the consequences of legal proceedings.
Thus, a report written in 2020 by Rufin Benam Beltoungou, the natural resources advisor to President Faustin-Archange Touadéra, advised “to favor an amicable settlement” and even to “simply reverse this decision to withdraw”. Another report, this time from the High Authority for Good Governance dated April 24, 2020, concluded that there had been an “abuse of power by the Ministry of Mines”, a “misinterpretation” of the law and advocated a “settlement to the amicable ”of the dispute. It is therefore this last avenue which is favored today by the parties.
Laï Kamara decorated by Russia in 2013
The Central African state had issued a new call for tenders, won in February 2020 by Midas Resources, a Malagasy company represented by Final Leandric Rabenatoandro and regularly presented as close to Russian interests in the country. Since its arrival in 2018, the Russian paramilitary group Wagner, which has a strong presence in the Central African Republic, has taken a keen interest in the mining sector. Two Russian mining companies active in the country, Lobaye Invest and M-Finans, were sanctioned by the US Treasury in September 2020 for their links with Yevgeny Prigozhin, a Russian oligarch close to Vladimir Putin and Wagner.
The future mediator, Laï Kamara, for his part received in 2013 the Order of Friendship from the hands of Vladimir Kozhin, ex-KGB, close collaborator of Vladimir Poutine in the Kremlin and under sanctions of the American Treasury since 2014. The French lawyer had, in 2013, won a long legal battle for the benefit of the Russian state over the Orthodox Saint-Nicolas cathedral in Nice, which pitted it against a local association.
Cub Energy obtains $792K (U.S.) loan from Ukraine bank
2021-06-01 12:28 MT - News Release
Mr. Patrick McGrath reports
CUB ENERGY ANNOUNCES UKRAINE BANK LOAN; PARTIAL REPAYMENT OF PELICOURT LOAN
Cub Energy Inc.'s 100-per-cent-owned subsidiary, Tysagaz LLC, has entered into a 650,000-euro $792,000 (U.S.)) loan with a Ukraine bank. The Ukraine bank loan will bear interest at 7 per cent, will mature in November, 2023, and is secured by the Jenbacher power generation units and a general guarantee by the company. Proceeds of the loan will be used to make a principal repayment of $750,000 (U.S.) on the Pelicourt Ltd. shareholder loan that bears interest at 10.8 per cent. The remaining balance on the Pelicourt loan is $900,000 (U.S.) following the prepayment.
"Cub is pleased to establish a banking relationship with a local Ukraine financial institution as it builds out its power generation business," Patrick McGrath, interim chief executive officer of Cub stated. "The loan and concurrent repayment of a similar amount on the Pelicourt loan allows the company to lower its interest rate from 10.8 per cent to 7 per cent and resulting cash savings."
About Cub Energy Inc.
Cub Energy is a power and upstream oil and gas company. The company's strategy is to implement western technology and capital, combined with local expertise and ownership, to increase value in its undeveloped land base, creating and further building a portfolio of producing power and oil and gas assets within a high-pricing environment.
We seek Safe Harbor.
PGOL had a good quarter, despite much lower gold prices and higher G&A due to drilling. However, once you remove the one time expense of a decrease in market securities, Patriot Gold did still show a profit for the quarter. Gold prices are now coming back and Nothern Vertex(operator of Moss Mine) has been intersecting some amazing assay results which will be part of Patriot's NSR of 3%. See links below:
PGOL Q1 Results - https://www.otcmarkets.com/filing/html?id=14956709&guid=PpanU6q4kYOKEth
NEE Recent Drill Results - https://www.juniorminingnetwork.com/junior-miner-news/press-releases/493-tsx-venture/nee/99450-northern-vertex-intersects-28-96-meters-grading-2-28-g-t-gold-and-28-84-g-t-silver-in-resource-expansion-drilling-at-the-moss-mine-arizona.html
Looks like a new brochure for Termin8r in the EV space - https://www.facebook.com/Spectraproducts/
Cub Energy Inc. May 2021 Company Presentation - http://www.cubenergyinc.com/_resources/corporate-presentation.pdf
Spectra Products Inc. Reports First Quarter 2021 Results
For Immediate Release – May 17, 2021
Toronto, Ontario – Spectra Products Inc. (SSA: TSX VENTURE) reports the release of its financial results for the
three-months ended March 31, 2021.
Revenues for the three-month period ending March 31, 2021 were $489,704 compared to $535,926 for the same period
in 2020.
In the three-month period ended March 31, 2021, net income before taxes of $78,689 was earned compared to net
income before taxes of $176,513 for the same period in 2020.
The main factors that contributed to the $97,824 decrease in net income were an $83,980 expense in 2021 as a result of the issuance of director and employee stock options and a $16,948 reduction in gross profit, due to lower sales.
As at March 31, 2021, Cumulative Other Comprehensive Income, representing the after-tax unrealized gain on investments, totaled $164,799.
Spectra Products Inc. is the Toronto-based North American designer, manufacturer and distributor of wheel end safety products to the transportation industry. These products include Brake Safe, Brake Inspector, Zafety Lug Lock, Hub Alert™ and the Anti-Seize Cotter Pin™ as well as the Termin-8RÒ line of anti-corrosion and extreme pressure lubricants.
Except for the historical information contained herein, this news release contains forward looking statements that involve risks and uncertainties, including the impact of competitive products and pricing and general economic conditions as they affect the Corporation’s customers. Actual results and developments may therefore differ materially from those described in this release.
Cub Energy Announces Commencement of Power Generation
Houston, Texas – May 17, 2021 – Cub Energy Inc. (“Cub” or the “Company”) (TSX-V: KUB), a Ukraine-focused power and energy company, announces that its 100% owned subsidiary, Tysagaz LLC (“Tysagaz”), has commenced commercial production of its Jenbacher gas power generation units in western Ukraine.
“Cub is pleased to report it has successfully executed on its power generation plan and has had over ten days of sales into the local power grid” Patrick McGrath, Interim CEO of Cub stated “I would like to thank the Cub team members for their work in bringing the project to fruition and maximizing the value of our RK field. We’ll continue to review additional opportunities in the energy and power sectors.”
The Jenbacher power units are converting natural gas produced from the RK field into power that is being sold into the local power grid. The Jenbacher units can also utilize gas from the nearby pipeline. The power generation units have the capacity to produce as much as 3 megawatts (“MW”) per hour of power. The local power rates are approximately $73/MW per hour and subject to local market fluctuations. The Company also announces the appointment of Patrick McGrath as Chairman of the Company. Mr. McGrath is currently the Interim CEO and a Director.
About Cub Energy Inc.
Cub Energy Inc. (TSX-V: KUB) is a power and upstream oil and gas company. The Company’s strategy is to implement western technology and capital, combined with local expertise and ownership, to increase value in its undeveloped land base, creating and further building a portfolio of producing power and oil and gas assets within a high pricing environment.
For further information please contact us or visit our website: www.cubenergyinc.com
Patrick McGrath
Interim Chief Executive Officer
(713) 577-1948
patrick.mcgrath@cubenergyinc.com
Spectra Products Inc. May 2021 Company Presentation - Termin8r Product For Battery Maintenance
https://static1.squarespace.com/static/5570c637e4b093e99edb8082/t/609c3974b8cbb73b36b9ef95/1620851061144/Spectra+Products+Inc.+Company+Presentation+May+2021+%28Amended+May+12%29.pdf
On Page 5:
Termin-8R has been protecting Electronics against corrosion for over 25 years in North America. The Electrical Vehicle (EV) Market has moved into the fast lane and the electrification of Passenger and Commercial vehicles is here to stay. If your Electric vehicle is even a few years old, chances are your charge port is starting to show signs of corrosion. Allowing this corrosion to build up can lead to contact failure, overheating, shorting, and a reduction in charging efficiency. As a result, your battery will take longer to load or fail to charge up fully. Low Volatile Organic Compound (VOC) means Termin-8R is safe for use on sensitive materials such as circuit boards, computer sensors, silicone, rubber and plastic, with no risk of damage or performance degradation. Many chemical sprays have high VOC levels and are damaging to equipment and components in day to day use for numerous transportation applications. Multi-functional Termin-8R® outperforms single-use chemical sprays and eliminates the need to stock many limited, one-use-only products: Dielectric Lubrication, Penetrant and Anti-Seize, High Pressure Lubricant, Corrosion Removal & Control, Moisture Eliminator, Contact Cleaner, Chain & Cable Lubricant, Battery Terminal Cleaner & Protector. Termin-8R’s dielectric feature makes it safe and ideal for electrical connections and equipment.
Cadillac Ventures closes KFG Resources acquisition
2021-05-03 10:39 MT - News Release
See News Release (C-CDC) Cadillac Ventures Inc (2)
Mr. Norman Brewster of Cadillac reports
CADILLAC VENTURES INC. AND KFG RESOURCES LTD. ANNOUNCE COMPLETION OF ARRANGEMENT
Cadillac Ventures Inc. has closed the acquisition of KFG Resources Ltd., pursuant to the previously announced plan of arrangement.
THE ARRANGEMENT
Pursuant to the Arrangement, Cadillac acquired all of the issued and outstanding common shares of KFG ("KFG Shares") on the basis of one common share of Cadillac (each, a "Cadillac Share") in exchange for each KFG Share held. In connection with the Arrangement, Cadillac issued an aggregate of 50,539,644 Cadillac Shares and there are 150,960,910 Cadillac Shares issued and outstanding following completion of the Arrangement.
The Arrangement was approved by holders ("KFG Shareholders") of KFG Shares at a special meeting of KFG Shareholders held on April 15, 2021 to consider the Arrangement. In addition, on April 19, 2021, the Supreme Court of British Columbia approved the Arrangement and granted a final order in respect thereof. The remaining conditions to completion of the Arrangement were satisfied or waived by the Parties on April 30, 2021.
The KFG Shares are expected to be delisted from the TSX Venture Exchange within 1-2 business days following completion of the Arrangement and KFG will make an application to cease to be a reporting issuer shortly thereafter. Additional information regarding the Arrangement is provided in the management information circular of KFG dated March 12, 2021, which has been filed on KFG's SEDAR profile at www.sedar.com.
CADILLAC DIRECTORS
Following closing of the Arrangement, G. Stephen Guido was appointed to the Cadillac board of directors ("Cadillac Board"), which is now comprised of five members. Mr. Guido is a director and Vice President, Operations and Chief Operation Officer of KFG and director, President and Chief Executive Officer of KFG's subsidiary, KFG Petroleum Corporation. In addition, pursuant to the terms of the Arrangement, the Cadillac Board has agreed to nominate Giacomo Grassi for election to the Cadillac Board at the next meeting of Cadillac shareholders at which directors are elected. Mr. Grassi is an independent businessman and corporate director, currently serving as a director on KFG, as well as director and property management administrator of Giamel Inc. (a private commercial real estate company) and director of Spectra Inc. (a public manufacturer of commercial transportation safety products).
EXHANGE OF KFG SHARES
Registered KFG shareholders who have not already done so, should submit the certificates representing their KFG Shares, together with a signed and completed letter of transmittal, to TSX Trust Company, the depositary for the Arrangement in order to receive the Cadillac Shares to which they are entitled pursuant to the Arrangement. Copies of the letter of transmittal are available on KFG's SEDAR profile at www.sedar.com. KFG shareholders who hold their KFG Shares through a broker or other intermediary should follow the instructions provided by such broker or other intermediary to exchange their KFG Shares for Cadillac Shares.
We seek Safe Harbor.
Cub Energy Announces Sale of CNG Interest
http://www.cubenergyinc.com/_resources/news/nr_2021-04-30.pdf
Houston, Texas – April 30, 2021 – Cub Energy Inc. (“Cub” or the “Company”) (TSX-V: KUB), announces it has entered into a share purchase agreement (“SPA”) to sell its 50% interest in CNG Holdings Netherlands B.V. (“CNG”), which in turn owns CNG LLC (Ukraine LLC), the 100% owner of the Uzghorod licence in western Ukraine.
Cub is to receive consideration of €800,000 (US $970,000) for its 50% interest in CNG. The consideration consists of €600,000 (US $728,000) in cash on closing and €200,000 (US $242,000) is a contingent payment on certain future events including a commercial discovery. The closing is subject to certain conditions including Ukraine regulatory approval.
The Company expects the closing in approximately one to two months’ time and will use the cash for general working capital. Patrick McGrath, Cub’s Interim Chief Executive Officer, said “Cub decided to divest its interest in CNG as we view it as a non-core asset that will likely be capital intensive in the near future as it is at the exploration stage.”
About Cub Energy Inc. Cub Energy Inc. (TSX-V: KUB) is a power and upstream oil and gas company. The Company’s strategy is to implement western technology and capital, combined with local expertise and ownership, to increase value in its undeveloped land base, creating and further building a portfolio of producing power and oil and gas assets within a high pricing environment. For further information please contact us or visit our website: www.cubenergyinc.com Patrick McGrath Interim Chief Executive Officer (713) 577-1948 patrick.mcgrath@cubenergyinc.com
SSA Company Performance Chart From 2006 To 2020
Year--- Revenue--- Profit/(-Loss)--- Assets/Liabilities--- Asset/Debt Ratio
2006--- $807,000--- (-$485,000)--- $464,000--- $2,505,000--- 0.19
2007--- $794,000--- (-$1,010,000)--- $678,000--- $2,104,000--- 0.32
2008--- $844,000--- (-$758,000)--- $593,000--- $2,630,000--- 0.23
2009--- $774,000--- (-$648,000)--- $353,000--- $3,040,000--- 0.12
2010--- $1,160,000--- (-$340,000)--- $388,000--- $3,400,000---0.11
2011--- $1,230,000--- $177,000--- $399,000--- $2,146,000--- 0.19
2012--- $1,170,000--- (-$315,000)--- $274,000--- $2,260,000--- 0.12
2013--- $1,280,000--- (-$74,000)--- $292,000--- $2,280,000--- 0.13
2014--- $1,440,000--- $45,000--- $343,000--- $2,207,000--- 0.16
2015--- $1,820,000--- $189,000--- $445,000--- $1,840,000--- 0.24
2016--- $1,550,000--- $152,000--- $417,000--- $1,490,000--- 0.28
2017--- $1,780,609--- $222,810--- $479,631--- $1,325,665--- 0.36
2018--- $2,045,806--- $495,372--- $747,183--- $1,097,845--- 0.68
2019--- $2,036,047--- $872,875--- $1,432,222--- $370,683--- 3.86
2020--- $1,594,026--- $603,462--- $1,948,485--- $283,484--- 6.87
Spectra Products Inc. Reports Fourth Quarter 2020 Results
For Immediate Release – April 27, 2021
Toronto, Ontario – Spectra Products Inc. (SSA: TSX VENTURE) reports the release of its financial results for the twelve-month ended December 31, 2020. Revenues for the twelve-month period ending December 31, 2020 were $1,594,026 compared to $2,036,047 for the same period in 2019. Revenues for the fourth quarter ending December 31, 2020 were $408,867 compared to $380,944 in 2019.
In the twelve-month period ended December 31, 2020, income before income taxes of $486,528 was earned and other comprehensive income before income taxes of $285,041 was earned, resulting in total comprehensive income before income taxes for the twelve-month period ended December 31, 2020 of $771,569. For the twelve-month period ended December 31, 2020 total comprehensive income, after income taxes, was $603,462.
“In spite of the severe downturn in the economy due to Covid-19, the Company’s Gross Profit decreased much less than the general decline in the economy. Also, management was able to produce substantial reductions in expenses. Together these factors allowed the company to report its second highest level of Income Before Taxes in the Company’s history.” stated Andrew Malion, the Company’s President.
Comparatively, in the twelve-month period ended December 31, 2019, income before income taxes of $364,468 was earned and other comprehensive income before income taxes of $0 was earned, resulting in total comprehensive income before income taxes for the twelve-month period ended December 31, 2019 of $364,468. As a result of the improved financial position of the Company, in the fourth quarter of 2019, a deferred tax asset of $508,407 was recognized. Accordingly, for the twelve-month period ended December 31, 2019 total comprehensive income, after income taxes, was $872,875.
In the fourth quarter ended December 31, 2020, income before income taxes of $113,243 was earned and other comprehensive income before income taxes of $285,041 was earned, resulting in total comprehensive income before income taxes for the fourth quarter ended December 31, 2020 of $389,284. For the fourth quarter ended December 31, 2020 total comprehensive income, after income taxes, was $329,097.
Spectra Products Inc. is the Toronto-based North American designer, manufacturer and distributor of wheel end safety products to the transportation industry. These products include Brake SafeÒ, Brake InspectorÒ, Zafety Lug LockÒ, Hub Alert™ and the Anti-Seize Cotter Pin™ as well as the Termin-8RÒ line of anti-corrosion and extreme pressure lubricants.
Except for the historical information contained herein, this news release contains forward looking statements that involve risks and uncertainties, including the impact of competitive products and pricing and general economic conditions as they affect the Corporation’s customers. Actual results and developments may therefore differ materially from those described in this release.
On behalf of the Board of Directors,
Andrew Malion, President, Spectra Products Inc.
Investor Relations: 1-800-308-5255
E-Mail: info@spectrainc.ca
Website: www.spectrainc.ca
Northern Vertex announced their first quarter results this week. 9,912 ounces of gold mined, so at say $1750 average, that's $17.346 million USD. At a 3% royalty to PGOL, we get $520k USD for the quarter. Patriot's next quarter should be out at the end of May.
https://www.stockwatch.com/News/Item/Z-C!NEE-3064909/C/NEE
Patriot Gold Corp Audited Year End Results
Link: https://www.otcmarkets.com/filing/html?id=14870454&guid=x9jpUKCL2qz9Mth
Ticker Symbols: PGOL for both exchanges (OTC & CSE)
Price: $0.13USD and $0.20CDN
Common shares: 74,380,354
Insider/Institutional Holdings: 49.5%
Website: www.patriotgoldcorp.com
Financial Breakdown below. All numbers are in $USD
Note: Northern Vertex Mining owns the Moss mine and pays Patriot Gold royalties on a ongoing basis. This mine has several years of production left, based on the last 43-101 resource report. This report will be updated shortly and will extend the life on the Moss mine, giving PGOL additional years of royalty revenue. As well, the company will be releasing drill results on it's own properties, Rainbow & Windy Peake, shortly. Bruner, the other royalty held by Patriot Gold also had an update recently via Canamex Gold.
Financials
ASSETS In $USD
Cash: $1,123,132
Marketable Securities: $221,580
Royalty Receivables: $1,076,130
Prepaid Expenses: $105,000
Deferred Tax Asset Allowance: $1,165,000
Total Assets: $3,691,842
LIABILITIES in $USD
Accounts Payable: $50,763
Accounts Payable(Related parties): $182,618
Total Liabilities: $233,381
2020 Performance In $USD
Revenue: $2,468,078
Total Expenses: $1,369,210
Net Income Before Taxes: $862,293
Income Tax Benefit: $1,165,000 - See Note 10 (Additional $8.7 million in tax benefits)
Net Income: $2,027,293 or $0.03c USD
After a couple years of doing nothing with Burner, CSQ is finally selling this fantastic gold project off to another company which should be capable of putting it into production. PGOL owns a 2% NSR on this asset. For more information, see Canamex's website.
https://www.canamexgold.com/bruner/
Canamex signs exclusivity deal for Bruner project
2021-04-06 11:32 MT - News Release
Mr. David Vincent reports
BRUNER GOLD PROJECT EXCLUSIVITY AGREEMENT, CONVERTIBLE DEBENTURES, FORBEARANCE AGREEMENT
Canamex Gold Corp. has provides an update regarding an exclusivity agreement on the Bruner gold project executed on March 31, 2021, and an update on the status of its secured convertible debentures issued by the company on Oct. 25, 2016, and Dec. 23, 2016, and which matured on Oct. 25, 2019, and Dec. 23, 2019, respectively.
Exclusivity Agreement
On March 31st, 2021 the Company executed an Exclusivity Agreement with a third party, for the potential sale and purchase of the Company's 100% controlling beneficial interest in the Bruner Gold Project (the "Transaction").
Under the Exclusivity Agreement, the terms of the Transaction are non-binding and indicative, until after completion of positive due diligence and completion of other customary closing conditions, including approval by the Board and the shareholders of the Company, and the execution of a definitive binding agreement.
The Company will keep all stakeholders updated, on the progress of the Transaction as milestones are completed.
If a definitive binding agreement is executed with regards to the Transaction, then the Gold Forward sale Agreement with MetalStream (refer below) will be terminated by the Company, being a condition precedent.
Forebearance Agreement
The Company is pleased to announce that a Forbearance Agreement dated April 1st, 2021 has been executed by the Company and Concept Capital Management Ltd. ("Debenture Holders Agent").
The Debenture Holders Agent has agreed to further forbear from exercising their rights and remedies under the Debentures and related security documents (collectively, the "Loan Documents") arising from the delays by the Company in paying interest and repaying the principal of the Debentures, provided that the Outstanding Obligations under the Debentures are repaid on or before August 31st, 2021.
If the Company fails to make full payment, including any agreed penalties, on or before August 31st, 2021, then the Debenture Holders Agent shall be entitled, at their sole discretion, to enforce their rights under the Loan Documents.
Gold Forward Sale - Update
On July 15th, 2020 the Company provided an update regarding the status of its Gold Forward Sale Agreement (the "Agreement") with MetalStream Ltd ("MetalStream"), originally announced January 27, 2020 and an extension announced April 23, 2020.
The Company advised that the initial first tranche payment was increased to US$5,500,000; and was delayed due to Covid-19 related banking and logistic delays, experienced by MetalStream. Despite these Covid-19 related delays, the Company and MetalStream remain fully committed to the Agreement; and the first tranche payment is expected to be completed before August 31st, 2021.
The subsequent second and third tranches payable under the Agreement were also amended as follows:
a) Second tranche payment of US$5,000,000 was increased to US$5,500,000.
b) Third tranche payment of US$25,000,000 was reduced to US$24,000,000.
The Company proposes to use the above proceeds from its Agreement with MetalStream, to settle the interest and any penalties, and repaying the principal of the Debentures, on or before August 31st, 2021.
If a definitive binding agreement is executed with regards to the Bruner Gold Project Transaction announced above, then the Gold Forward sale Agreement with MetalStream will be terminated by the Company, being a condition precedent.
The Company will keep all stakeholders updated, on the progress of the Gold Forward Sale transaction with MetalStream.
About Canamex
Canamex is a public listed company registered in British Columbia, Canada, trading on the Canadian Securities Exchange (CSE: CSQ) and is engaged in pre-development of the Bruner gold and silver project in the prolific gold jurisdiction of Nye County, Nevada. The region is home to several producing and past-producing mines along the Walker Lane Trend. Canamex completed a positive Preliminary Economic Assessment (PEA) on the Bruner project in 2016. Based on additional drilling conducted on the property, the company completed an updated PEA in 2018, which increased the resources and improved the economics of the project.
The PEA is based primarily on indicated resources, but also included about 10% inferred resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the preliminary economic assessment will be realized.
Canamex is planning to move the Bruner project forward into permitting and development using the proceeds from a gold stream forward sale to MetalStream Limited.
We seek Safe Harbor.
SSA Technical Charts - 100% Buy Rating
https://www.barchart.com/stocks/quotes/SSA.VN/opinion
Overall Average:
100% BUY
Overall Average Signal calculated from all 13 indicators. Signal Strength is a long-term measurement of the historical strength of the Signal, while Signal Direction is a short-term (3-Day) measurement of the movement of the Signal.
Barchart Opinion
INDICATOR
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BUY
Short Term Indicators
20 Day Moving Average
BUY
20 - 50 Day MACD Oscillator
BUY
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BUY
20 - 200 Day MACD Oscillator
BUY
20 - Day Average Volume: 210,365 Average: 100% BUY
Medium Term Indicators
50 Day Moving Average
BUY
50 - 100 Day MACD Oscillator
BUY
50 - 150 Day MACD Oscillator
BUY
50 - 200 Day MACD Oscillator
BUY
50 - Day Average Volume: 177,835 Average: 100% BUY
Long Term Indicators
100 Day Moving Average
BUY
150 Day Moving Average
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200 Day Moving Average
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100 - 200 Day MACD Oscillator
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100 - Day Average Volume: 142,160 Average: 100% BUY
Cub Energy Inc. April 2021 Company Presentation & Natural Gas Pricing In Ukraine
http://www.cubenergyinc.com/_resources/corporate-presentation.pdf
https://www.ueex.com.ua/eng/exchange-quotations/natural-gas/medium-and-long-term-market/#
Based on the natural gas pricing in Ukraine, which was substantially lower in 2020 compared to 2021, Cub Energy should have much larger profitable quarters going forward, especially when the RK field begins producing.
Cub Energy Inc. Reports Year-End Reserves for 2020
http://www.cubenergyinc.com/_resources/news/nr_2021-03-31b.pdf
Houston, Texas – March 31, 2021 – Cub Energy Inc. (“Cub” or the “Company”) (TSX-V: KUB)
announces the results of its independent reserves evaluations as of December 31, 2020 on its oil and gas properties in Ukraine. The evaluation was performed on the Company’s 35% working interest in KUB-Gas LLC (“KUB-Gas”) and was conducted by Ryder Scott Petroleum Consultants (“Ryder Scott”), an independent qualified reserves evaluators and auditor (“Reserves Report”).
The 100% owned RK field, held by the Company’s wholly-owned subsidiary Tysagaz LLC, was not subject to a Reserve Report in 2020 given the Company is awaiting the commencement of commercial production at the power generation project which will utilize the gas at the RK field. The Company expects to re-evaluate the reserve category of the RK field in 2021.
Patrick McGrath, Interim CEO of Cub said: “The natural gas price assumptions in the 2020 reserve report were approximately 15%-20% lower than the World Bank forecasts for the same period which had a negative impact on the value of the 2020 reserve results. However, to date in 2021, the Company has seen the price of natural gas in Ukraine rebound to the $5/Mcf-$6/Mcf range. In addition, the Company hopes to have its RK field re-evaluated to a reserve category in 2021 upon the material re-start of the RK field.”
All evaluations were prepared using guidelines outlined in the Canadian Oil and Gas Evaluation
Handbook ("COGE Handbook") and are in accordance with Canadian Securities Administrators
National Instrument 51-101 - Standards of Disclosure for Oil and Gas Activities ("NI 51-101"). Cub’sNI 51-101 disclosure for the year ended December 31, 2020 is in its Form 51-101 F1 filed on SEDAR www.sedar.com and posted on the Company’s website at www.cubenergyinc.com
$165,000 USD profit for Q4. This is with lower natural gas pricing compared to 2021 and without the RK producing, which is currently awaiting government approval.
Cub Energy Announces 2020 Results
http://www.cubenergyinc.com/_resources/news/nr_2021-03-31.pdf
Houston, Texas – March 31, 2021 – Cub Energy Inc. (“Cub” or the “Company”) (TSX-V: KUB), a Ukraine-focused upstream oil and gas company, announced today its audited financial and operating results for the year ended December 31, 2020. All dollar amounts are expressed in United States Dollars unless otherwise noted. This update includes results from Kub-Gas LLC (“Kub-Gas”), which Cub has a 35% equity ownership interest, Tysagaz LLC (“Tysagaz”), Cub’s 100% owned subsidiary and CNG LLC (“CNG”), which Cub has a 50% equity ownership interest. Patrick McGrath, Interim CEO of Cub said: “We are pleased to report the two Jenbacher power units arrived on site on the RK field in Q4 2020 and were successfully installed and tested during Q1 2021 and just awaiting final regulatory approval to start selling into the local power grid. While the commercialization has taken longer than expected, we look forward to the commencement of power production. Due to stronger gas trading margins in the fourth quarter of 2020, the Company reported net income of $165,000 during the three months ended December 31, 2020.” Operational Highlights
• Achieved average natural gas price of $3.79/Mcf and condensate price of $41.07/bbl during the year December 31, 2020 as compared to $5.36/Mcf and $49.51/bbl for 2019. The decrease in gas price is in large part due to the impact of COVID-19. To date in 2021, the Company has seen the price of natural gas in Ukraine rebound to the $5/Mcf-$6/Mcf range.
• Production averaged 619 boe/d (97% weighted to natural gas and the remaining to condensate) for the year December 31, 2020 as compared to 784 boe/d for 2019.
• In 2020, the Company has signed a contract for the purchase of two Jenbacher gas power generation engines that should convert the natural gas produced from the RK field into power that can be sold in western Ukraine at local market rates. The two units were manufactured and delivered to the RK Field in the fourth quarter of 2020 to begin installation and commissioning. Each power generation unit will have the capacity to produce as much as 1.5 megawatts (“MW”) of power or 3 MW in total.
Financial Highlights
• The gross profit on the Company’s gas trading business increased to $1,523,000 during the year ended December 31, 2020 as compared to $825,000 in gross profit in 2019.
• The Company reported net income of $165,000 or $0.00 per share during the three months ended December 31, 2020 as compared to a net loss of $11,320,000 or $0.04 per share during 2019. The Company reported a net loss of $2,109,000 or $0.01 per share during the year December 31, 2020 as compared to a net loss of $11,060,000 or $0.04 per share during 2019. Excluding the one-time impairment and provision charges in 2019, the Company would have had net income of $262,000.
• Netbacks of $8.55/boe or $1.43/Mcfe were achieved for the year December 31, 2020 as compared to netback of $15.88/Boe or $2.65/Mcfe for 2019.
• The Company has implemented certain cost-cutting initiatives during 2020, including the layoff of eleven team members, salary and director fee reductions, the signing of office leases at lower rent levels and a general decrease in the use of external consultants.
East West Petroleum Retains Technical Advisors for New Zealand Operations
Vancouver, British Columbia--(Newsfile Corp. - March 29, 2021) - East West Petroleum Corp. (TSXV: EW) ("East West" or the "Company") is pleased to report that it has retained a technical advisory team in New Zealand to assist in oversight over operations at Cheal.
The Cheal productions assets are held by the Company's wholly owned New Zealand subsidiary and the subsidiary has concluded an agreement with 3TCF Limited ("3TCF"), a private New Zealand corporation, with a team of seasoned oil and gas professionals in order to have oversight and guidance on operating matters. Since the start of the COVID-19 pandemic travel has been difficult for both the Company and the permit operator. As a result, the Company now has a New Zealand based technical team, which can provide oversight over ongoing operations.
Headed by Mr. Bill Treuren, a successful New Zealand businessman and entrepreneur, with a 30-year background in oil & gas pipelining, facilities, drilling and completion engineering, 3TCF can provide the necessary foundation to have New Zealand operator capability allowing us to manage existing and new exploration and production operations. Other key members of the 3TCF management team include Dave Bennett, Duncan Hardie and Allister Richardson. Dave has 40 years' experience in petroleum exploration holding senior roles in numerous economically viable oil & gas discoveries. Most recently Dave was Technical Director of Tag Oil, which held acreage adjacent to the Company's New Zealand properties. Duncan has 40 years' experience as a successful entrepreneur in minerals and petroleum exploration & other business areas. Duncan is Principal of Hardie Pacific & Munuku Pty. Ltd., which holds and has under application a total of seven EPM permits north of Cairns, Australia. Allister is a consulting geologist with 17 years oil industry experience, was previously Tunisia exploration manager for Oil Search & later Chairman of Rawson Resources Ltd.
Said interim CEO Mr. Nick Demare: "We are pleased to have concluded this agreement with 3TCF and look forward to working with the 3TCF team."
Said 3TCF President Mr. Bill Treuren: "We look forward to working with East West in order to assist them in managing their New Zealand assets."
About East West Petroleum Corp.
East West Petroleum Corp. (www.eastwestpetroleum.ca) is a TSX Venture Exchange listed company established in 2010 to invest in international oil & gas opportunities. The Company has its primary focus on two key areas: New Zealand, where it has established production and cash flow and Romania where it is carried to production on an exploration program. In Romania the Company has exploration rights in four exploration concessions covering 1,000,000 acres in the prolific Pannonian Basin of western Romania with Naftna Industrija Srbije ("NIS"). The Company does not own the acres but has exploration rights.
Cub Energy Announces Appointment of Board Member and Power Generation Update
Houston, Texas – March 23, 2021 – Cub Energy Inc. (“Cub” or the “Company”) a Ukraine-focused power and upstream oil and gas company, announces the appointment of Eugene Chaban as a member of the board of directors effective immediately. Mr. Chaban has been working with the Company in a management position since 2014 and was appointed Chief Financial Officer on February 2, 2021. Mr. Chaban has worked in the energy sector in Ukraine for over 10 years including oil and gas, power generation and energy trading.
The Company’s two Jenbacher gas power generation engines were successfully tested and installed to the local power grid in February 2021. To commence commercial production, the Company requires government regulatory approval which is still pending and the Company believes will be granted in due course. This should result in the restart of the RK field in western Ukraine.
About Cub Energy Inc.
Cub Energy Inc. is a power and upstream oil and gas company, with a proven track record of exploration and production cost efficiency in Ukraine. The Company’s strategy is to implement western technology and capital, combined with local expertise and ownership, to increase value in its undeveloped land base, creating and further building a portfolio of assets within a high pricing environment.
For further information please contact us or visit our website: www.cubenergyinc.com
Patrick McGrath
Interim Chief Executive Officer
(713) 577-1948
patrick.mcgrath@cubenergyinc.com
EU To Label Gas to Electricity Plants As "Green"
https://www.euractiv.com/section/energy-environment/news/eu-to-offer-gas-plants-a-green-finance-label-under-certain-conditions/
EU to offer gas plants a green finance label, under certain conditions
The European Union plans to label some gas power plants as sustainable investments, after an initial proposal to deny them a green label faced a backlash from a group of 10 EU member states.
The European Commission’s new proposal, shared with EU countries on Saturday, would class gas-fuelled plants that generate power plus heating or cooling as a green investment if strict conditions on emissions are met and they are operating by 2025.
The EU’s updated proposal for gas plants is part of its Sustainable Finance Taxonomy, which defines what economic activities can be marketed in Europe as sustainable investments from next year. The full text of the proposal was published online by specialised news site Contexte.
The Commission declined to comment on the draft proposal. It plans to finalise the sustainable finance rules by April 21.
The EU’s aim is to steer more capital into environmentally friendly projects to help it deliver on its plan to rapidly slash the greenhouse gas emissions causing climate change.
But the taxonomy has become mired in disputes between EU countries over how to treat investments in natural gas, forcing the Commission to rewrite its original proposal from November.
Natural gas, a fossil fuel, produces roughly half the carbon dioxide (CO2) emissions of coal when burned in a power plant and countries such as Poland and Germany plan to use gas to wean themselves off the more polluting fuel.
However, gas is not emissions-free and there are growing concerns that leaks of potent planet-warming methane from gas infrastructure could cancel out the benefits of switching to gas from coal.
Strict conditions
Under the draft plan, gas plants that generate power and also provide heating or cooling can be classed as a green investment if they replace a high-emitting fossil fuel-based facility and result in a cut in greenhouse gas emissions of at least 50% per kilowatt hour (kWh) of energy produced.
The gas plant must be operating by 2025, have the potential to use low-carbon fuels in future, and emit no more than 270 grams of CO2 equivalent per kWh of energy.
For plants only producing power, or those that also provide heating or cooling but do not replace a more polluting plant, the Commission stuck to its plan to restrict the green label to plants with life-cycle emissions below 100g of CO2 equivalent per kWh, according to the draft document.
That means gas power plants operating now would need to add technology to capture their emissions to qualify.
Sean Kidney, chief executive of the Climate Bonds Initiative, said it was a major win for climate action that the Commission had not weakened this 100g emissions limit.
“That is a key marker for electricity generation that we need to spread globally,” said Kidney, a member of the EU’s advisory group on the sustainable finance taxonomy.
James Watson, secretary general of gas industry group Eurogas, declined to comment on the draft proposal but said the 100g limit was a barrier to switching to gas from coal.
“The taxonomy must leverage all viable technology, including highly efficient gas-fired solutions and renewable and low-carbon gas-ready units,” Watson said.
The new proposal aims to placate countries split over the finance rules, as it would take a majority of the bloc’s 27 members to veto them.
A group of 10 EU countries, including Bulgaria and Poland, had urged the Commission to label gas power as green by giving plants a feasible threshold they could meet.
States including Denmark and Spain, however, have warned Brussels not to weaken its initial plan to deny gas a green label.
Northern Vertex finally released a new company presentation today. I checked last week and it wasn't there. Good information and some timelines on it. PGOL has a 3% NSR on Moss, so getting more drill results this year and an updated 43-101 will add significant value to the royalty on this property.
https://www.northernvertex.com/site/assets/files/2310/03_22_2021_vertex_corp_pres_final-v2.pdf
Just a quick history lesson here. In 2015, Leo Berezan (WCE's largest shareholder) sold the current producing property to WesCan for shares. Over the past 6 years, Leo has continued to increase his position in WCE, the largest increase just happened now. It's very likely that Leo knows the full potential of the property since he was the prior owner. Seeing him buying stock before the workovers and potentially a drill program is as good as it gets in terms of where things are headed. Company production costs range from $29-36 a barrel, as per the last 6 quarters. So to double the production and get $60+ for your oil, it's obvious to see that the company is making good money right now.
Wescan Energy four-million-share private placement
2021-03-16 18:23 MT - Private Placement
The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced March 1, 2021.
Number of shares: four million common shares
Purchase price: five cents per common share
Number of placees: eight placees
Insiders: Greg Busby, 500,000; John Cassels, 500,000; Perry Miller, 500,000; Leo Berezan, two million