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Mob news ain't what it used to be, but here's a tidbit.
http://www.cosanostranews.com/2014/05/whats-going-on-with-scarfo-firstplus.html
Well, that was ugly! Maybe now we can get back to the long term game plan optimism. Yeah, yeah, that's the ticket!
magicJack Reports First Quarter 2014 Financial Results
Total net revenues of $35.3 million
Access rights renewal revenues were $15.4 million, up from $14.8 million in Q413
Generated $14.2 million in operating cash flow, up 120% from Q413
GAAP operating income of $7.6 million, adjusted EBITDA of $11.6 million
GAAP diluted EPS of $0.30; non-GAAP diluted EPS of $0.53
Cash, cash equivalents and investments of $67.3 million and no debt
Maintaining revenue and profitability guidance for FY14
Additional First Quarter 2014 and Recent Highlights:
magicJack APP had 8.4 million registered APP users as of March 31, 2014, a quarter-over-quarter increase of 21%.
As of March 31, 2014, magicJack had an estimated 3.1 million active MJ subscribers, which we define as users of MJ or MJP that are under an active subscription contract.
magicJack activated 196,000 subscribers during the first quarter of 2014. Activations are defined as devices that become activated on to a subscription contract during a given period.
During first quarter ended March 31, 2014, magicJack's average monthly churn was 3.3%.
magicJack announced a strategic commercial relationship with Telefonica to sell magicJack products and services in Latin America.
magicJack expanded its senior management team to include Anthony Russo - Vice President of Mobile.
magicJack released the updated magicJack mobile app - rebranded as magicApp - for free calling on Android devices. The updated magicApp offers free worldwide over-the-top calling and more streamlined account activation as well as a refreshed look and user experience.
http://www.vocaltec.com/releasedetail.cfm?ReleaseID=847270
magicJack Reports First Quarter 2014 Financial Results
Total net revenues of $35.3 million
Access rights renewal revenues were $15.4 million, up from $14.8 million in Q413
Generated $14.2 million in operating cash flow, up 120% from Q413
GAAP operating income of $7.6 million, adjusted EBITDA of $11.6 million
GAAP diluted EPS of $0.30; non-GAAP diluted EPS of $0.53
Cash, cash equivalents and investments of $67.3 million and no debt
Maintaining revenue and profitability guidance for FY14
Additional First Quarter 2014 and Recent Highlights:
magicJack APP had 8.4 million registered APP users as of March 31, 2014, a quarter-over-quarter increase of 21%.
As of March 31, 2014, magicJack had an estimated 3.1 million active MJ subscribers, which we define as users of MJ or MJP that are under an active subscription contract.
magicJack activated 196,000 subscribers during the first quarter of 2014. Activations are defined as devices that become activated on to a subscription contract during a given period.
During first quarter ended March 31, 2014, magicJack's average monthly churn was 3.3%.
magicJack announced a strategic commercial relationship with Telefonica to sell magicJack products and services in Latin America.
magicJack expanded its senior management team to include Anthony Russo - Vice President of Mobile.
magicJack released the updated magicJack mobile app - rebranded as magicApp - for free calling on Android devices. The updated magicApp offers free worldwide over-the-top calling and more streamlined account activation as well as a refreshed look and user experience.
http://www.vocaltec.com/releasedetail.cfm?ReleaseID=847270
Sometimes the last step can be a doozy, like when you think you're already at the bottom, but you're not. Hopefully, Nicky, Sal, John, William, and all the rest of the final Firstplus "family" get to experience it facefirst.
Sometimes the last step can be a doozy, like when you think you're already at the bottom, but you're not. Hopefully, Nicky, Sal, John, William, and all the rest of the final Firstplus "family" get to experience it facefirst.
I think the jury is being instructed. Justice is just around the corner. (LOL)
It looks like gold would have to get to about $1850/oz for CLGRF to break even, based on first quarter operating data. They appear to have enough cash to hold on for a few more quarters at the the current price level. Of course, if they can reduce costs even further, they might be able to extend that a little, and I suppose there's always the option of shutting down to save costs. Everything depends on the price of gold, in my opinion, but there is always the possibility of a wild card like a white knight buyer.
Claude Announces First Quarter Results
Trading Symbols: TSX: CRJ; OTCQB: CLGRF
SASKATOON, May 8, 2014 /PRNewswire/ - Claude Resources Inc. ("Claude" and or the "Company") today reported its 2014 first quarter operating and financial results. All dollar amounts are in Canadian dollars unless stated otherwise.
Q1 Highlights:
Production of 11,344 ounces of gold was 40% higher period over period.
Mine production costs of $10.6 million decreased by 9% period over period.
Revenue of $15.6 million from the sale of 10,865 ounces of gold.
Total cash cost per ounce of gold (1) was $978 (U.S. $886).
Net cash margin of $460 per ounce.
Cash flow from operations before net changes in non-cash operating working capital (1) of $1.8 million, or $0.01 per share.
Net loss of $5.1 million, or $0.03 per share.
Completed the sale of the Madsen Gold Project for gross proceeds of $11.2 million in cash and equity of Laurentian Goldfields Inc.
Raised $13.4 million in gross proceeds from the sale of a Net Smelter Return Royalty on the Seabee Gold Operation with Orion Mine Finance.
Mike Sylvestre, Interim President and Chief Executive Officer, commented, "We were able to achieve the best first quarter performance in nearly a decade. We demonstrated a 40% increase in produced ounces, a 34% increase in grade and a 4% increase in tonnes milled period over period meanwhile decreasing our mine production costs by 9%. In addition, we successfully completed the winter re-supply program and are experiencing very positive results in our implementation of the new Alimak mining method on the L62 deposit. The first quarter results reflect our ongoing efforts to improve our production while ensuring cash flow optimization. During the first quarter, we also completed the sale of the Madsen Gold Project and partnered with Orion Mine Finance through a royalty at the Seabee Gold Operation to strengthen our balance sheet."
Financial Results
Table 1: Highlights of Financial Results of Operations
March 31
2014 March 31
2013
Revenue (in 000's) $ 15,624 $ 15,278
Divided by ounces sold 10,865 9,301
Average realized price per ounce (CDN$) $ 1,438 $ 1,643
Production costs (in 000's) $ 10,628 $ 11,584
Divided by ounces sold 10,865 9,301
Total cash costs per ounce (CDN$) $ 978 $ 1,245
Net cash margin per ounce sold $ 460 $ 398
Production royalty (in 000's) $ 58 -
Depreciation and depletion (in 000's) $ 5,593 $ 4,549
Gross loss (in 000's) $ (655) $ (855)
Net loss (in 000's) $ (5,111) $ (2,537)
Loss per share (basic and diluted) $ (0.03) $ (0.01)
Gold revenue from the Company's Seabee Gold Operation for the three months ended March 31, 2014 increased 2% to $15.6 million from $15.3 million reported in the first three months of 2013. The increase in gold revenue period over period was attributable to 17% higher gold sales volume (Q1 2014 - 10,865; Q1 2013 - 9,301 ounces) offset by a 12% decline in Canadian dollar gold prices realized (Q1 2013 $1,438 (U.S. $1,303); Q1 2013 - $1,643 (U.S. $1,629)).
During the quarter, mine production costs of $10.6 million (Q1 2013 - $11.6 million) were 9% lower period over period. Total cash cost per ounce of gold (1) for the first quarter decreased 21% to $978 (U.S. $886) per ounce from $1,245 (U.S. $1,235) during the first quarter of 2013.
Cash flow from operations before net changes in non-cash operating working capital (1) of $1.8 million, or $0.01 per share, was slightly up from $1.4 million, or $0.01 per share, reported in the first quarter of 2013.
For the three months ended March 31, 2014, the Company recorded a net loss of $5.1 million, or $0.03 per share (Q1 2013 - net loss of $2.5 million, or $0.01 per share).
Operations
During the first quarter of 2014, the Company milled 64,370 tonnes at a grade of 5.76 grams of gold per tonne (Q1 2013 - 61,877 tonnes at a grade of 4.31 grams of gold per tonne) for total production of 11,344 ounces of gold (Q1 2013 - production of 8,082 ounces of gold). This 40% increase in ounces produced is attributable to a 34% increase in grade and a 4% increase in tonnes milled period over period.
Table 2: Seabee Gold Operation Production Statistics
March 31
2014 March 31
2013
Operating Data
Tonnes Milled 64,370 61,877
Head Grade (grams per tonne) 5.76 4.31
Recovery (%) 95.1 94.3
Gold Ounces
Produced 11,344 8,082
Sold 10,865 9,301
Santoy Gap Update
During the quarter, the Company continued to make steady progress in developing the Santoy Gap towards production. To date, the Company has completed approximately 200 metres of the 290 metre long ventilation raise and expects to have the raise completed by the end of the second quarter. The completion of the ventilation raise, which provides fresh air underground, represents a significant milestone as it will allow the Company to improve development rates by increasing the underground activity. Also, the Company completed the initial access to the deposit on 28 level and is currently developing the sill. Sampling results from the development sill have demonstrated encouraging results to date and are consistent with the Mineral Reserve. Development of the 24, 26 and 30 levels is progressing ahead of schedule, with anticipated development ore production from all levels in the second quarter. In addition, the Company is conducting a 27,000 metre infill drilling program to better refine the Santoy Gap resource and optimize mine design. To date, drilling results have been positive and support the Company's model of the deposit.
Exploration
During the first quarter of 2014, exploration expenditures at the Seabee Gold Operation focused on low cost per ounce targets, proximal to infrastructure with the potential to materially impact near-term production, drive resource growth and positively impact the Company's Mineral Reserves and Mineral Resources.
Outlook
For 2014, forecast gold production at the Seabee Operation is estimated to range from 47,000 to 51,000 ounces of gold. Unit costs for 2014 are expected to be comparable to 2013's unit cash costs of $983 per ounce. Quarterly operating results are expected to fluctuate throughout 2014; as such, they will not necessarily be reflective of the full year average.
Conference Call and Webcast
We invite you to join our Conference Call and Webcast on May 9, 2014 at 11:00 AM Eastern Time.
To participate in the conference call please dial 1-647-427-7450 or 1-888-231-8191. A replay of the conference call will be available until May 16, 2014 by calling 1-855-859-2056 and entering the password 34474891.
To view and listen to the webcast on May 9, 2014 please use the following URL in your web browser: www.newswire.ca/en/webcast/detail/1342355/1483995
A copy of Claude's 2014 Q1 Management's Discussion & Analysis, Financial Statements and Notes thereto (unaudited) can be viewed at www.clauderesources.com. Further information relating to Claude Resources Inc. has been filed on SEDAR and may be viewed at www.sedar.com.
Claude Resources Inc. is a public company based in Saskatoon, Saskatchewan, whose shares trade on the Toronto Stock Exchange (TSX: CRJ) and the OTCQB (OTCQB: CLGRF). Claude is a gold exploration and mining company with an asset base located entirely in Canada. Since 1991, Claude has produced over 1,000,000 ounces of gold from its Seabee Gold Operation in northeastern Saskatchewan. The Company also owns 100 percent of the Amisk Gold Project in northeastern Saskatchewan.
Footnotes
(1) See description and reconciliation of non-IFRS financial measures in the "Non-IFRS Financial Measures and Reconciliations" section of the Company's 2014 Q1 MD&A available on the Company's website at www.clauderesources.com or on www.sedar.com.
CAUTION REGARDING FORWARD-LOOKING INFORMATION
All statements, other than statements of historical fact, contained or incorporated by reference in this news release and constitute "forward-looking information" within the meaning of applicable Canadian securities laws and "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 (referred to herein as "forward-looking statements"). Forward-looking statements include, but are not limited to, statements with respect to the future price of gold, the estimation of mineral reserves and resources, the realization of mineral reserve estimates, the timing and amount of estimated future production, costs of production, capital expenditures, costs and timing of the development of new deposits, success of exploration activities, permitting time lines, currency exchange rate fluctuations, requirements for additional capital, government regulation of mining operations, environmental risks, unanticipated reclamation expenses, title disputes or claims and limitations on insurance coverage. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate" or "believes", or the negative connotation thereof or variations of such words and phrases or state that certain actions, events or results, "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" or the negative connotation thereof.
All forward-looking statements are based on various assumptions, including, without limitation, the expectations and beliefs of management, the assumed long-term price of gold, that the Company will receive required permits and access to surface rights, that the Company can access financing, appropriate equipment and sufficient labour, and that the political environment within Canada will continue to support the development of mining projects in Canada.
Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Claude to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: actual results of current exploration activities; environmental risks; future prices of gold; possible variations in ore reserves, grade or recovery rates; mine development and operating risks; accidents, labour issues and other risks of the mining industry; delays in obtaining government approvals or financing or in the completion of development or construction activities; and other risks and uncertainties, including but not limited to those discussed in the section entitled "Business Risk" in the Company's Annual Information Form. These risks and uncertainties are not, and should not be construed as being, exhaustive.
Although Claude has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
Forward-looking statements in this news release are made as of the date of this news release and accordingly, are subject to change after such date. Except as otherwise indicated by Claude, these statements do not reflect the potential impact of any non-recurring or other special items that may occur after the date hereof. Forward-looking statements are provided for the purpose of providing information about management's current expectations and plans and allowing investors and others to get a better understanding of our operating environment.
Claude does not undertake to update any forward-looking statements that are incorporated by reference herein, except in accordance with applicable securities laws.
CAUTIONARY NOTE TO US INVESTORS CONCERNING RESOURCES ESTIMATES
The resource estimates in this document were prepared in accordance with National Instrument 43-101, adopted by the Canadian Securities Administrators. The requirements of National Instrument 43-101 differ significantly from the requirements of the United States Securities and Exchange Commission (the "SEC"). In this document, we use the terms "measured", "indicated" and "inferred" resources. Although these terms are recognized and required in Canada, the SEC does not recognize them. The SEC permits U.S. mining companies, in their filings with the SEC, to disclose only those mineral deposits that constitute "reserves". Under United States standards, mineralization may not be classified as a reserve unless the determination has been made that the mineralization could be economically and legally extracted at the time the determination is made. United States investors should not assume that all or any portion of a measured or indicated resource will ever be converted into "reserves". Further, "inferred resources" have a great amount of uncertainty as to their existence and whether they can be mined economically or legally, and United States investors should not assume that "inferred resources".
SOURCE Claude Resources Inc.
I suspect they could go into production at any time, but probably lack sufficient funding. I'm no mining expert, but I would be willing to bet there are significant start up costs involved. AVCVF appears to be concentrating on promoting and selling the Gildemeister Cellcube brand (for now) in order to have a ready made customer for the vanadium and perhaps a source of capital for the mining operation. How's that for a WAG?
Hopefully, we will consolidate around the .50 level and then move up on with news.
I suppose profit taking is inevitable, but it seems so short sighted somehow.
I suppose profit taking is inevitable, but it seems so short sighted somehow.
Edited, duplicate post. This was a duplicate of the previous post. Not sure why this keeps happening.
HERE, put this in your car and drive it!
Nokia investing $100M in smart-car technology
http://www.cnet.com/news/nokia-investing-100m-in-smart-car-technology/
New Seeking Alpha article dials up the brighter side of CALL.
http://seekingalpha.com/article/2189803-magicjack-vocaltec-the-future-is-bright
Final results for Friday 5/2/14: 390,571 shares traded, high - .69, low - .58, finishing at .66. We started the week at .49 for a 35% gain. Over the last 4 weeks (starting 4/2/14) we have an 88% gain. Nice.
Level II is showing around 5000 shares left in the sub $1 range, then it's anybody's guess where we go next.
We could soon be up over 100% in less than 10 trading days. Hopefully, the buying is from savvy investors intimately familiar with the technology. My amateur internet research is turning up some exciting potential for vanadium flow batteries as indicated in the article linked below. Investors normally react positively when they see the word "floodgates" used in describing the investment.
Floodgates Open For Vanadium Flow Batteries
http://cleantechnica.com/2014/04/29/floodgates-open-vanadium-flow-batteries/
PRESS RELEASE
AMERICAN VANADIUM PROMOTES BRIAN BECK TO VICE PRESIDENT, SALES
May 1, 2014 - AMERICAN VANADIUM CORP. (“American Vanadium” or the “Company”) (TSX.V: AVC) (OTCQX:
AVCVF) is pleased to announce the promotion of Brian Beck to Vice President, Sales. Mr. Beck, who was
Director of Sales at American Vanadium Corp., has been active in the field of energy storage, most recently
with vanadium flow battery companies Prudent Energy Corporation and VRB Power Systems Inc.
Brian Beck is a chartered engineer with over 30 years’ experience in the electrical industry in Europe and USA,
and has been an avid participant in electric supply restructuring in the UK as well as ongoing deregulation of
the power industry in North America. Since his role as General Manager of Caterpillar Energy Solutions, Mr.
Beck has held a wide variety of roles in power management, trading, deregulation, traditional utility grid
environments as well as remote and micro grid environments.
“Following our recent announcements on projects at the Metropolitan Transportation Authority (MTA) in
Manhattan and the US Department of Energy’s National Renewable Energy Laboratory (NREL), it was
important to acknowledge Brian’s outstanding work in both our technical sales and general sales
management of the on and off grid markets and have him fill this critical senior position,” said Bill Radvak,
President and CEO of the Company. “Not only is Brian a seasoned sales and management leader, but his
accomplished background in energy storage and vanadium flow batteries makes him the perfect leader as we
set out on an aggressive strategy to partner with developers, integrators and engineering companies.”
The Company has granted 110,000 options to Mr. Beck at the exercise price of $0.60 each for a term of five
years from the date of grant. The stock options are granted pursuant to the Company’s Stock Option Plan, as
amende
The one and only bright spot for EKCS is the amazingly high profile of their customers. Too bad it has rarely translated into anything near a profit.
Video on You Tube April 25th
The buying has slowed down, so it looks like we won't make that high of the day close. I suppose it's still possible, but I suspect we will settle into the mid to upper .40 range for the day. We do have an hour and 20 minutes left and perhaps the buyers are just trying to cool down the prices for a final surge. LOL
Less than 10,000 shares left on the offer in the .50's but momentum has slowed considerably. If we can just close anywhere in the .50's today, the investing community radar should be picking up the blips very soon. Hold on to your hats if any recognizable analyst raises the rating.
Now Level II shows less than 30,000 shares in the .50's. Demand appears to be holding up very well, and the sellers are obviously beginning to take notice.
At least for the present time, there are about 120,000 shares still offered in the .50's, and then we'll basically be in unmarked territory. We may be in for an interesting finish today.
Change that previous post to ZERO shares under .50 on the offer.
Just a few thousand shares on the offer side under .50
Just a few thousand shares on the offer side under .50
Light volume so far, but the offer looks pretty deep at .44 -.45 and with a high of the day already at .4947, we're certainly off to a good start.
Gildemeister Videos
http://energy.gildemeister.com/de/mediacenter
The New York City MTA initiative appears to be energizing the stock along with the city subways and buses.
Wednesday - 759,354
Thursday - 800
There was a little girl
BY HENRY WADSWORTH LONGFELLOW
There was a little girl,
Who had a little curl,
Right in the middle of her forehead.
When she was good,
She was very good indeed,
But when she was bad she was horrid.
Approximately one million shares over the past two days.
I suspect the real estate is simply a way to store assets for some future new business initiative. The corporate shell has a value, and assuming there is no collapse of the real estate market in the area where SYTE is operating, the company could leverage their assets into something with a future - something unlike the dying internet business division. How's that for a WAG?
I still think the price of gold will be the determining factor in the final analysis.
With Sandstorm Gold (SAND) currently at 5.35, I get a deal value of right around 1.27 per STTYF share.
This Q1 report seems impressive, but the devil is in the details, of course. I suspect the price of gold will continue to be the driving force - up or down, but CLGRF seems to be getting well positioned for a move up whenever gold heads north for good.
SASKATOON, April 23, 2014 /CNW/ - Claude Resources Inc. ("Claude" and or the "Company") today announced first quarter production results of 11,344 ounces, representing a 40% increase from the 8,082 ounces produced in the first quarter in 2013. The grade in the first quarter also increased significantly by 34% to 5.76 grams per tonne from the first quarter in 2013.
Table 1: Seabee Gold Operation Production
March 31 March 31
2014 2013
Operating Data
Tonnes Milled 64,370 61,877
Head Grade (grams per tonne) 5.76 4.31
Recovery (%) 95.1 94.3
Gold Produced (ounces) 11,344 8,082
Mike Sylvestre, Interim President and CEO stated, "Historically, our first quarter has always been a challenge and 2014 was no different. While we faced severe and abnormal winter conditions, we were able to complete the winter re-supply program and have our best first quarter production results in the last ten years. We have focused on improving our grades and that initiative is starting to pay off. We expect this trend to continue and we are confident that the mine grades will reconcile more closely to our reserve grade for the remainder of the year."
The Company remains confident in meeting its 2014 production guidance of 47,000 to 51,000 ounces of gold. In addition, the Company continues to make progress in advancing the Santoy Gap towards production by the fourth quarter of 2014 by completing the fresh-air vent raise in the second quarter and continued mine development. The Santoy Gap currently hosts 266,100 ounces of gold in Mineral Reserves at 5.68 grams per tonne and is expected to increase production and margins by the beginning of 2015.
Claude Resources Inc. is a publicly traded gold exploration and mining company based in Saskatoon, Saskatchewan, whose shares trade on the Toronto Stock Exchange (TSX: CRJ) and the OTCQB (OTCQB: CLGRF). Its asset base is located entirely in Canada and since 1991, Claude has produced over 1,000,000 ounces of gold from its Seabee Gold Operation in northeastern Saskatchewan. The Company also owns 100 percent of the Amisk Gold Project in northeastern Saskatchewan.
CAUTION REGARDING FORWARD-LOOKING INFORMATION
All statements, other than statements of historical fact, contained or incorporated by reference in this news release and constitute "forward-looking information" within the meaning of applicable Canadian securities laws and "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 (referred to herein as "forward-looking statements"). Forward-looking statements include, but are not limited to, statements with respect to the future price of gold, the estimation of mineral reserves and resources, the realization of mineral reserve estimates, the timing and amount of estimated future production, costs of production, capital expenditures, costs and timing of the development of new deposits, success of exploration activities, permitting time lines, currency exchange rate fluctuations, requirements for additional capital, government regulation of mining operations, environmental risks, unanticipated reclamation expenses, title disputes or claims and limitations on insurance coverage. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate" or "believes", or the negative connotation thereof or variations of such words and phrases or state that certain actions, events or results, "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" or the negative connotation thereof.
All forward-looking statements are based on various assumptions, including, without limitation, the expectations and beliefs of management, the assumed long-term price of gold, that the Company will receive required permits and access to surface rights, that the Company can access financing, appropriate equipment and sufficient labour, and that the political environment within Canada will continue to support the development of mining projects in Canada.
Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Claude to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: actual results of current exploration activities; environmental risks; future prices of gold; possible variations in ore reserves, grade or recovery rates; mine development and operating risks; accidents, labour issues and other risks of the mining industry; delays in obtaining government approvals or financing or in the completion of development or construction activities; and other risks and uncertainties, including but not limited to those discussed in the section entitled "Business Risk" in the Company's Annual Information Form. These risks and uncertainties are not, and should not be construed as being, exhaustive.
Although Claude has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
Forward-looking statements in this news release are made as of the date of this news release and accordingly, are subject to change after such date. Except as otherwise indicated by Claude, these statements do not reflect the potential impact of any non-recurring or other special items that may occur after the date hereof. Forward-looking statements are provided for the purpose of providing information about management's current expectations and plans and allowing investors and others to get a better understanding of our operating environment.
Claude does not undertake to update any forward-looking statements that are incorporated by reference herein, except in accordance with applicable securities laws.
SOURCE Claude Resources Inc.
/CONTACT: Mike Sylvestre, Interim President & CEO
Phone: (306) 668-7505
or
Marc Lepage, Manager, Investor Relations
Phone: (306) 668-7501
Email: ir@clauderesources.com
Website: www.clauderesources.com
Corporate Release
PRESS RELEASE
AMERICAN VANADIUM ANNOUNCES FIRST CELLCUBE™ VANADIUM FLOW BATTERY INSTALLATION IN NEW YORK
NYSERDA Partners for Commercial Demonstration of Energy Storage at MTA Headquarters at 2 Broadway in Downtown Manhattan
AMERICAN VANADIUM CORP. (“American Vanadium” or the “Company”) (TSX.V: AVC) (OTCQX: AVCVF) announces it will partner with the New York State Energy Research and Development Authority (NYSERDA) to demonstrate the CellCube™ vanadium redox flow energy storage system. The Metropolitan Transportation Authority (MTA) and the New York City Transit (NYCT) Office of Strategic Innovation and Technology will host this demonstration at the MTA’s Energy Star Certified facility at 2 Broadway in downtown Manhattan. ConEdison and the Advanced Energy Research Technology Center (AERTC) at Stony Brook will also support this effort.
This demonstration is intended to augment existing successful facility energy management measures at the MTA’s 1.6 million square foot office building. The CellCube™ batteries will complement an automated demand response system developed for the building by Lawrence Berkley National Laboratory and previously funded by NYSERDA. The project will demonstrate how vanadium flow battery technology, capable of multi-hour and multi-megawatt energy storage, can enable NYC commercial buildings to be “smarter” about how and when they use energy, and provide resiliency in times of need.
“New York is clearly creating a leading energy storage marketplace and the knowledge gained from this demonstration will help realize gains in building and grid energy efficiency, save money for electric ratepayers and, importantly, add a new weapon to the arsenal of resiliency tools in the event of future grid outages,” said Bill Radvak, President & CEO of American Vanadium Corp. “As we continue the development of the only vanadium mine in the United States to provide the critical source of vanadium electrolyte for these advanced battery systems, we are honored to be working on this groundbreaking energy storage installation with the MTA, one of the largest energy consumers in the United States.”
The CellCube™ is a fully commercial energy storage system that has been sold and installed across Europe, Asia and Africa, with more than 60 systems currently in operation at customer sites worldwide. The CellCube™ system is modular and can serve loads from 10kW to multi-MWs and, as a flow battery, the system excels at providing multiple hours of energy for long-duration requirements.
Dr. William Acker, Executive Director of the New York Battery and Energy Storage Technology consortium (NY-BEST), stated, “New York State is actively pursuing commercially ready technologies that will help grow a clean energy economy and improve the reliability, efficiency and overall performance of our electric power delivery system. This project will demonstrate the important role energy storage can play in helping consumers save money, reduce peak load demands and provide the grid serving New York with stored energy during times of shortage or disruption.”
American Vanadium is the Master Sales Agent in North America for the CellCube™ systems which are manufactured by Gildemeister. Additionally, American Vanadium controls the only vanadium deposit in the United States and, together with Gildemeister, they plan to establish CellCube™ sales and manufacturing capabilities in New York State.
About the New York State Energy Research and Development Authority
NYSERDA, a public benefit corporation, offers objective information and analysis, innovative programs, technical expertise, and funding to help New Yorkers increase energy efficiency, save money, use renewable energy, and reduce their reliance on fossil fuels. NYSERDA professionals work to protect our environment and create clean-energy jobs. NYSERDA has been developing partnerships to advance innovative energy solutions in New York since 1975. To learn more about NYSERDA’s programs and funding opportunities, visit nyserda.ny.gov or follow us on Twitter, Facebook, YouTube, Instagram.
About the New York Battery and Energy Storage Technology Consortium (NY-BEST)
NY-BEST is a non-profit corporation established in 2010 with support from the New York State Energy Research and Development Authority (NYSERDA) to position New York State as a global leader in energy storage technology. An industry-led consortium with more than 130 members, NY-BEST's mission is to catalyze and grow the energy storage industry and establish New York State as a global leader in the energy storage industry. Visit NY-BEST on the web at www.ny-best.org.
About American Vanadium Corp.
American Vanadium is an integrated energy storage company that markets and sells GILDEMEISTER’S CellCube™ vanadium redox flow batteries in North America. American Vanadium is developing the only vanadium mine in the United States, providing a critical source of North American-sourced vanadium electrolyte for CellCube™ energy storage systems. The Company’s Gibellini Vanadium Project, located in Nevada, is being designed to economically produce vanadium electrolyte for the energy storage industry, as well as vanadium products for the steel and alloying industries.
ON BEHALF OF THE BOARD
Bill Radvak, President and CEO
For further information, please contact:
Dan Schieber, Director, Corporate Finance
(604) 681-8588 X 106
dschieber@americanvanadium.com
www.americanvanadium.com
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
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Forward-Looking Statements
Forward-Looking Statements: This press release contains “forward-looking information” within the meaning of applicable Canadian securities laws, including statements with respect to obtaining shareholder approval, use of proceeds, future plans and objectives for the Gibellini Project and the energy storage business. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of American Vanadium to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Forward-looking information includes estimates of mine production rates and mine life, revenues from future mining operations, capital and operating costs, and pay-back period. Factors that may cause actual results to vary include, but are not limited to, changes in project parameters as plans continue to be refined; future prices of vanadium; possible variations in reserves, grade or recovery rates; changes to capital and operating cost estimate, delays in obtaining governmental approvals or financing or in the completion of development or construction activities. We may not have adequate capital, financing or cash flow to sustain our business or implement our business plans. Statements contemplating or making assumptions regarding actual or potential sales, market size and demand, prospective business contracts, customer orders or trends in the energy storage market constitute forward looking statements. Our actual results may differ from those indicated in forward looking statements as the energy storage and renewable energy generation business is subject to significant economic, competitive, regulatory, business and industry risks which are difficult to predict and many of which are beyond our control. Our business performance may be adversely affected by a general decline in the economy, unavailability of capital or financing for prospective customers to purchase products and services from us, competition, changes in regulations, a decline in the demand for energy storage and other risks. Although American Vanadium has attempted to identify important factors that could cause actual results to differ materially from those contained in forward- looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. American Vanadium does not undertake to update any forward- looking statements, except in accordance with applicable securities laws.