I own PSTI but rarely post anymore
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Denison Updates Canadian and U.S. Production and Status of OmegaCorp Bid
Marketwire
July 31, 2007: 05:18 PM EST
Denison Mines Corp. ("Denison" or the "Company") (TSX: DML)(AMEX: DNN) announced today its 2007 and 2008 production estimates.
At the McClean Lake mill in northern Saskatchewan, year-to-date production as of June 30, 2007 was 784,000 pounds of U3O8, of which Denison's share was 176,000 pounds. Estimated 2007 total production at McClean Lake is 1.8 million pounds, of which Denison's share is approximately 405,000 pounds of U3O8. For 2008, production at McClean Lake is expected to be 3.2 to 4.0 million pounds, of which Denison's share would be approximately 700,000 to 900,000 pounds. Denison holds a 22.5% interest in the state-of-the-art McClean Lake mill, which is currently being expanded to a licensed capacity of 12 million pounds per year to accommodate the processing of ore from Cigar Lake. The processing of Cigar Lake ore is expected to begin in 2011. In the meantime, the expanded facilities will be available for use by the McClean Lake Joint Venture to facilitate the processing of more of its own ore.
Denison's wholly owned White Mesa mill (Utah, U.S.) produced 137,000 pounds of U3O8 from alternate feed material in the first half of 2007. Total uranium production from alternate feed material is expected to be 300,000 pounds of U3O8 in 2007. White Mesa's forecast for conventional ore production for 2008 is estimated at 2.9 million pounds of U3O8. The White Mesa mill is a 2,000 ton per day dual circuit mill and is currently the only conventional uranium mill operating in the U.S. The mill modernization program is on schedule and on budget. On June 25th, 2007, Denison received the construction permit for the relining of the tailings cell 4A from the State of Utah. Construction has commenced and will be completed well in advance of conventional ore production which is scheduled to commence in the first quarter of 2008.
The Company transported more than 12,000 tons of ore to the White Mesa mill during the first half of 2007 and mining activities accelerated in July with concurrent development and mining at four fully permitted mines in the Colorado Plateau. Development activities are also underway at Denison's two other U.S. mining camps. At the Henry Mountains Complex, the last phase of the permitting effort has been submitted for public comment and the full operating permit is expected in the third quarter of 2007. Rehabilitation work is ongoing under an existing exploration permit. Rehabilitation work has begun on the fully permitted Arizona 1 mine in the Arizona Strip with mining scheduled to begin by late 2007.
WHITE MESA MILL ORE BUYING PROGRAM
Also at White Mesa, on July 5, 2007, Denison announced the start of a new ore buying program. The program, the first of its kind at White Mesa since 1998, will maximize the efficiency of the mill by purchasing uranium/vanadium ore from third-party producers. The White Mesa mill is a strategic asset as it is the only operational and fully permitted uranium processing facility within a 500-mile radius of numerous historic uranium mines, of which a number are currently undergoing development by other parties. Denison anticipates purchasing approximately 40,000 tons of uranium ore per year under the new program. In addition to its ore buying schedule, the Company is offering an ore haulage transportation allowance beginning August 1, 2007.
The ore buying schedule for the month of August and detailed information regarding the new transportation allowance is posted on the Company's website at www.denisonmines.com.
OMEGACORP TAKEOVER OFFER
Following its announcement of a new takeover offer to acquire all the remaining shares of OmegaCorp Limited ("OmegaCorp") (ASX: OMC), Denison announced on July 16, 2007 that it was removing all the conditions to its offer thereby allowing Denison to purchase outstanding common shares on an "on market" basis. As of July 26, 2007, Denison had acquired approximately 135 million shares, representing 87.48% of the outstanding ordinary shares on issue. Denison's offer is priced at AU$1.30 per common share, for a total consideration of approximately AU$134 million (CDN$121 million). OmegaCorp owns 100% of the Kariba Uranium Project, a single prospecting license covering 1,893 km2 in Zambia, as well as a uranium project in Mozambique and a heavy mineral sands project in Tanzania. Denison expects to continue to acquire additional common shares and achieve at least 90% ownership thereby permitting it to acquire 100% ownership under applicable Australian law.
Q2 RESULTS AND CONFERENCE CALL
Denison plans to release its second quarter fiscal 2007 financial results on Friday, August 10, 2007, before markets open. Senior management will discuss the results and the company's outlook during a conference call to be held at 11:00 am, Friday, August 10, 2007. Participants can access the conference call via the Internet at: www.denisonmines.com.
Denison Mines Corp. is a premier intermediate uranium producer in North America, with mining assets in the Athabasca Basin Region of Saskatchewan, Canada and the southwest United States including Colorado, Utah, and Arizona. Further, the Company has ownership interests in two of the four uranium mills operating in North America today. The Company also has a strong exploration portfolio with large land positions in the United States, Canada and Mongolia. Correspondingly, the Company has one of the largest uranium exploration teams among intermediate uranium companies.
Cautionary Statements
This news release contains "forward-looking statements", within the meaning of the United States Private Securities Litigation Reform Act of 1995 and similar Canadian legislation, concerning the business, operations and financial performance and condition of Denison Mines Corp. ("Denison").
Forward looking statements include, but are not limited to, statements with respect to estimated production; the expected effects of possible corporate transactions, the development potential of Denison's properties; the future price of uranium; 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; success of exploration activities; permitting time lines and permitting, mining or processing issues; currency exchange rate fluctuations; 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 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".
Forward looking statements are based on the opinions and estimates of management as of the date such statements are made, and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Denison to be materially different from those expressed or implied by such forward-looking statements, including but not limited to risks related to: unexpected events during construction, expansion and start-up; variations in ore grade, tonnes mined, crushed or milled; delay or failure to receive board or government approvals; timing and availability of external financing on acceptable terms; actual results of current exploration activities; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; future prices of uranium and vanadium; possible variations in ore reserves, grade or recovery rates; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes and other risks of the mining industry; delays in the completion of development or construction activities, as well as those factors discussed in or referred to under the heading "Risk Factors" in Denison's Annual Information Form dated March 27, 2007 available at www.sedar.com and its Form 40-F available at www.sec.gov. Although management of Denison 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. Denison does not undertake to update any forward-looking statements that are incorporated by reference herein, except in accordance with applicable securities laws. Mineral resources, which are not mineral reserves, do not have demonstrated economic viability. Readers should refer to the Annual Information Form and the Form 40-F of the Company for the fifteen month period ended December 31, 2006 and other continuous disclosure documents filed since December 31, 2006 available at www.sedar.com and www.sec.gov, for further information relating to their mineral resources and mineral reserves.
Contacts:
Denison Mines Corp.
E. Peter Farmer
(416) 979-1991 ext. 231
Denison Mines Corp.
Ron Hochstein
(604) 689-7842
Denison Mines Corp.
James Anderson
(416) 979-1991 ext. 372
(416) 979-5893 (FAX)
Website: www.denisonmines.com
Have you seen this Canalaska article?
http://www.businessedge.ca/article.cfm/newsID/15608.cfm
SUWN - Thanks so much for your assessment. Also I should have thanked you earlier for letting us on the board know about your changed assessment on XNN (before it tanked).
cleverrox - Have you ever looked at Sunwin SUWN? If you have or don't mind looking I would appreciate your opinion. Thanks
Denison Mines U.S. Uranium Mill Monopoly
Interesting article:
http://biz.yahoo.com/seekingalpha/070710/40600_id.html?.v=1
Article on DNDN CEGE & NWBO
http://biz.yahoo.com/seekingalpha/070710/40618_id.html?.v=1
Is todays pull back a good opportunity to buy NWBO?
I don't have PM on ihub and I know you don't check SI that often so I just sent you an email that I think you will find interesting.
The whole precious metal & mining sector taking a hit today. All the Uranium stocks down with the precious metals but the price of uranium is still rising?
http://free.financialmail.co.za/07/0622/cover/coverstory.htm
They need to get into Whole Foods Market and other health outlets where people go looking for Stevia. Many people do not care how the price compares other artificial sweeteners because they will only use natural products and don't want the calories of sugar (which is also highly processed unless you compare the price to a natural sugar).
Nuclear Energy ETF to Launch in U.S. This Fall
http://www.resourceinvestor.com/pebble.asp?relid=33108
By Jon A. Nones
18 Jun 2007 at 03:04 PM GMT-04:00
St. LOUIS (ResourceInvestor.com) -- Van Eck Global is hoping to add another innovative exchange traded fund (ETF) to its family of Market Vectors with the launch of the world’s first nuclear energy ETF this fall. The New York-based fund advisor filed with the SEC last month with plans to launch its new fund in the U.S. in fall 2007.
Kathy Lang of Van Eck told RI that it will take about two and half months to hear back from the SEC, then the product will launch shortly thereafter on a U.S. exchange to be determined. She assured RI that the ETF would be available sooner than six months.
The Market Vectors – Nuclear Energy ETF will track the DAXglobal Nuclear Energy Index, a modified market-cap index that tracks global companies from uranium miners through final electrical generation, to be published by Deutsche Börse AG.
The Nuclear Energy Index will be comprised of common stocks and depository receipts that are listed for trading on major stock exchanges around the world, calculated using a modified market capitalization weighting methodology.
The index will be comprised of companies with market capitalizations greater than $150 million that have a worldwide average daily trading volume of at least $1 million and have maintained a monthly trading volume of 250,000 shares over the past six months.
Lang said the index is not yet completed, but the company will start work once it hears back from the SEC. However, all companies will derive at least 50% of their total revenues from the nuclear energy business.
The fund will normally invest at least 80% of its total assets in equity securities of U.S. and foreign companies primarily engaged in seven sub-sectors:
1.
Uranium mining
2.
Uranium enrichment
3.
Uranium storage
4.
Uranium and nuclear equipment
5.
Nuclear plant infrastructure
6.
Nuclear fuel transportation
7.
Nuclear energy generation
Van Eck will utilize an indexing investment approach to approximate the investment performance of the Nuclear Energy Index by investing in a portfolio of securities that generally replicate the index.
Because of the passive investment management approach of the fund, Van Eck expects the portfolio turnover rate to be under 30%, generally a lower turnover rate than for many other investment companies.
Van Eck anticipates that the fund will hold all of the securities which comprise the Nuclear Energy Index in proportion to their weighting. As such, the Nuclear Energy fund will normally invest at least 95% of its total assets in securities that comprise the Nuclear Energy Index.
Although Van Eck’s fund would be the world’s first broad-based nuclear energy ETF, there is another fund that operates much like a pure-play uranium ETF: Uranium Participation Corp [TSX:U], managed by Denison Mines [AMEX:DNN; TSX:DML].
Launched in May 2005, Uranium Participation Corp. (UPC) was created to invest in, hold and possibly sell uranium oxide in concentrates (U308). UPC reported its net asset value at May 31, 2007 was C$892.66 million with 4.2 million pounds of U308 and 1.2 million kilograms of uranium hexafluoride (UF6).
In July 2006, New City Investment Mangers launched Geiger Counter Limited, a mutual fund focussed on investing in uranium and nuclear power opportunities, on the London Stock Exchange [LSE:GCL] and Channel Islands Stock Exchange [CISX:GCL].
The fund invests in companies involved in the exploration, development or production of uranium, but also fossil fuels and potential alternative energy supplies.
Likewise, another mutual fund, Global Uranium Fund Inc. [TSX:GUR.UN], completed its initial public offering of 10,000,000 units today in Toronto for gross proceeds of $100 million.
Global Uranium Fund was designed to capitalize on strong investment fundamentals in the uranium sector by investing in companies who are producing or developing deposits, with some exploration issuers that “offer significant growth potential.”
In early May, NYMEX launched the world's first on and off-exchange traded uranium futures after signing a 10-year agreement with the Ux Consulting Company. The contract trades under the symbol UX with a minimum contract size is 250 pounds of uranium U3O8, with the June contract last priced at $137/lb.
As the uranium price closes in on $140/lb, now reportedly $138/lb, investors are likely to see many more vehicles emerge in the uranium and nuclear energy sectors.
Oh well - Whatever happened it must have been good cause it just passed the HOD even though it is still red! lol
It is up more on the Toronto Exchange.
A little help anyone - What does it mean when all of a sudden the bid/ask on all options months and prices have no market maker but the stock appears to be trading (Look at DNN)?
Something happening? Looks like options on DNN are halted?
No bid and No ask but the stock seems to be trading? What does that mean?
Great article - Thanks for sharing it.
We don't want a paltry 15% premium. We are producing NOW and we know know the Current price of Uranium so we are sitting in the drivers seat if somebody want us. Do you know where Cameco is getting their yellow cake to fulfill their hedged contracts after their flooding problems?
PS My stocks seem to do better when I don't post much and look the other way.
Yes - But lets keep it quiet, I want to add more next week - lol
PS My stocks seem to do better when I don't post much and look the other way.
I found this excerpt that I thought was interesting...
Rick Rule's Picks
Rule said the most important aspect of any company is management. Investor's are betting on the management's ability to bring value to the property.
"Money is made where the rubber meets the road. And people make the money," he said.
He said it is important to find out the actual value of the property, not by asking the company, but by asking what someone else would pay for it. Also, investors should understand how much it's going to cost to develop the property and where the money is going to come from, he added.
For these reasons, Rule picked Denison Mines [TSX:DML], Azimut Exploration [TSXv:AZM] and Paladin Resources [TSX:PDN].
He said Denison has deep exposure in uranium worldwide with a strong track record. As an intermediate uranium producer with five active uranium mining projects in North America, Denison expects estimated production of 5 million pounds of uranium by 2010.
The company's 25%-owned Midwest uranium deposit contains 41.7 million pounds of U308 of Proven & Probable reserves (345,000 tonnes grading 5.47% U3O8, 4.37% Ni and 0.34% Co), and is scheduled to begin production by 2010.
Denison's other assets include an interest in two of the licensed and operating uranium mills in North America, with its 100% ownership of the White Mesa mill in Utah and its 22.5% ownership of the McClean Lake mill in Saskatchewan.
The company has exploration properties in the Athabasca Basin in Saskatchewan, Canada and in the Colorado Plateau, Henry Mountain and Arizona Strip regions of the Southwestern United States, as well as in Mongolia and, indirectly through its investments, in Australia.
Denison is also the manager of Uranium Participation Corporation [TSX:U], a publicly traded company which invests in uranium oxide in concentrates and uranium hexafluoride.
How much of a premium do think we would get in a takeover offer?
Denison and EMC Subject of Takeover Rumours
By Todd Flagg and Jon A. Nones
10 May 2007 at 10:14 PM GMT-04:00
St. LOUIS (ResourceInvestor.com) -- Issues of supply and demand have brought the spot price of uranium to $120/lb. Rumours of corporate mergers and acquisitions in the uranium sector are beginning to circulate as companies look to buy up additional resources.
On Wednesday, shares of Denison [TSX:DML; AMEX:DNN] and Energy Metals Corp. [TSX:EMC; NYSE:EMU], both jumped 5% following rumours that the uranium miners were being pursued by Cameco [TSX:CCO; NYSE:CCJ] and France-based Areva.
According to Cheryl Brandon, a research analyst with Leeward Hedge Funds, both Areva and Cameco - along with other major uranium producers - are looking to expand their global position in the uranium market.
Denison has ongoing uranium projects in the U.S., Canada, Australia and Mongolia. As an intermediate uranium producer with five active uranium mining projects in North America, Denison expects estimated production of 5 million pounds of uranium by 2010.
Energy Metals Corporation (EMC) has extensive advanced property holdings in Wyoming, Texas and New Mexico that are amenable to ISR (in-situ recovery). EMC is also actively advancing other significant uranium properties in the States of Colorado, Utah, Nevada, Oregon and Arizona.
Denison has 189,107,823 shares outstanding with a $2.77 billion market cap at today’s price of $14.32. EMC has with 81,184,214 shares outstanding with a $1.14 billion market cap at today’s price of $13.40.
At a modest 15% premium to today’s closing prices, the bidder(s) would have to make an offer of about $16.50 per share for Denison and $15.40 per share for EMC, $3.12 billion and $1.25 billion, respectively.
According to Brandon, in 2007 the next major mergers and acquisitions wave will be focused within the uranium sector. Thus far, uranium companies have not been subject to the frenetic pace of M&A in the gold and base metals sectors.
In February, SXR Uranium One [TSX:SXR] launched a bid worth $3.1 billion in stock for UrAsia Energy. Later that month, Paladin Resources Ltd [TSX:PDN], offered about C$950 million for Australian miner Summit Resources Ltd.
In December 2006, Denison purchased International Uranium for C$1 billion and made a failed attempt for Australia’s OmegaCorp [ASX:OMC], acquire just a third of the company. On April 13 2007, when Denison’s bid expired, Central African Mining and Exploration Co., [LSE:CFM] bid $222 million in shares for OmegaCorp.
Thus far, the world’s largest uranium companies have stayed on the sidelines. But Cameco and Areva are not the only companies looking for consolidation within the uranium sector. CVRD [NYSE:RIO], BHP Billiton [NYSE:BHP] and Teck Cominco [NYSE:TCK; TSX:TCK-B] are all possible players for future mergers and acquisitions.
Brandon said that with an estimated 300 uranium miners or explorers on the market, several of the largest companies are looking to buyout prominent juniors. Companies isolated in one country on continent are looking to expand projects to North America and Africa.
Brandon said uranium companies as Paladin Resources Ltd. [TSX:PDN], SXR Uranium One and Cameco are in the best position to expand their global position.
Cigar Lake Influence
According to a report by Leeward, one of the key moments in uranium market occurred on October 22, 2006. When a rock slide flooded Cameco’s Cigar Lake mine, the stage was set for the globalization of the uranium market.
According to Leeward, Cigar Lake was an anomaly. With very high uranium grades -approximately 20% versus the average world uranium grade of 1-1.5% - production was expected to hit 18 million pounds, which would have equated to 10% of the current uranium used today. Reserves for the mine were estimated at 232 million pounds.
“With Cigar Lake flooded, Cameco seems to be more willing to go into acquisition mode to compensate for the delay,” Brandon said in the report. “While the company is already involved in numerous joint ventures, it has not made a big splash in the acquisition of other larger uranium companies.”
By 2011, 40% to 50% of new production was slated to come from Cigar Lake. Cameco has postponed production until 2010 and the capital expense has risen from $600 million to $1 billion.
“One might presume that the answer seemingly lies in how long it would take Cameco to de-flood Cigar Lake; the longer it takes, the more interested Cameco naturally becomes to acquiring fairly advanced-stage uranium junior.”
Cameco's CEO Gerry Grandey announced that the company "may acquire smaller rivals after years of insufficient investment by the industry leaves tight supplies and high prices," with a strategy "to watch very carefully how they succeed. And at some point in time, if they need expertise or money or joint ventures or acquisitions, it would certainly be possible."
Supply deficit
The global supply-demand deficit is now estimated to be 10.6 million pounds (or 7%) in 2006, 7 million pounds in 2007 and is expected to remain in deficit until 2010.
Currently, 443 nuclear reactors operate worldwide, consuming 180 million pounds of uranium annually. Primary supply makes up 60% of total supply with secondary supply making up the balance.
The main source of secondary supply is highly enriched uranium (HEU) in Russia and the United States, and uranium inventories held by utilities. Leeward expects the largest reduction in supply to come from the removal of HEU from the market.
Russia has indicated that it will not renew its uranium agreement to supply the market with its stockpiles after 2013 and the U.S. plans to slow its uranium sales this year considerably.
Russia signed a contract with the United States in 1993, agreeing to convert 500 metric tonnes to HEU (equivalent to approximately 23 million pounds annually) and export to the U.S. over a 20 year period, according to Leeward.
The contract is set to expire in 2013. Russia has made it clear that they will not renew the HEU supply contract with the United States.
This month, a spokesman for the U.S. Department of Energy (DOE) said that the organization is looking into scaling back its inventory and releasing part of its strategic reserve.
Brandon said that even though estimates of that the DOE will be releasing up to 500,000 pounds of uranium onto the market, Leeward does not expect this to affect the spot price of uranium.
gapper - XNN
Seems to have found footing - I'm back in.
looking good
I got some a few weeks ago when it was traded under the pinksheets. I thought it might pop when it changed to the AMEX listing but it took a few days to get some recognition. If they perform as expected, then I plan to hold for long term capital gains (and I hope I have to pay uncle sam a lot :)
Any opinions on NYX? Looks like it may have turned the corner today.
I feel your pain. Looks like the insider selling has taken a break and some serious insider buying is happening...
http://insidercow.com/history/company.jsp?company=nyx&B1=Search%21
This is a killer stock. First it kills the shorts, then it kills the longs, then it kills the again shorts, then it kills the longs again and repeat until it kills everybody.
Looks like the 70% loss is not far away. I'm out until it finds footing.
I read a couple of good articles on Denison Mines Corp but one said they were unhedged and another said they have some hedged positions. Could you please elaborate on any hedges they are committed to and the price/timeframes if any? Thanks
Can we trust the management? Anyone please respond...
Thanks petermic for some background information on the largest shareholder. I cannot believe nobody has responded to you. After reading your post, I became much more concerned about the insider selling and the fear of dilution so I sold with a small profit. If anyone has some credible info they can post that counters the info petermic has presented please post it. I bought because I wanted to own shares in a company that I can trust that also has a medical breakthrough that could help many people and I thought HPLF was one of those companies but now I have serious doubts.
An article summary from this weeks Barron's on energy stocks that might benefit from uranium prices.
http://energy.seekingalpha.com/article/33841?source=d_email&u=47862
Thanks for looking Jag. It would not have to be a US traded company as most foreign stocks will have a pink sheet equivalent (reuters.com gives other exchange listings on foreign stocks). There must be some public company providing specialty equipment just for exploration?
I actually bought some SILXF.PK earlier this year (proof that I can make any stock go down just by buying it). They also offer SILXY.PK for 4x the price but not sure of the advantages.
I am new to the ADR's but if I understand it correctly you also end up trading the currency exchange along with the stock because the value is based on the foreign currency (but lately that would be a good thing). If anyone has a good broker for getting a good prompt fills on PK stocks without large fees, I would be interested.
Hey Jag - can you tell me any publicly traded uranium equipment makers that would benefit the most from all this exploration?
ACRI.OB (.88)
http://www.investorshub.com/boards/board.asp?board_id=8702
ACRO inc Ticker ACRI (OTC:BB) is very thinly traded (not much daily volume) but the largest shareholder Ehud Keinan (see short bio below) who owns 30%, appears to be a straight shooter with good connections on his advisory board (like General (ret.) Ehud arak, former IDF Chief of Staff and former Primer Minister of Israel) and the product has recently tested well and appears to be in the right place at the right time to do very well if they can market it properly with the right price point and produce a quality product that customers are pleased with. Searching for company news can be tricky because they were listed in the oil services sector until 2006 (under the ticker MDIN) when the company made a complete change in direction and a new Board of Directors but they are still listed in the oil sector on most stock quotes plus many stock websites include news info for a different company called Acacia (which apparently used ACRI or ACRO a couple years ago).
The stock just did a private placement of $1.5 million with an off-shore company but according to the press release it was for a fixed amount @ $.75 cents per share with incentive warrants @$1.25 per share available in the future (so my understanding is that there is no convertible debenture to worry about). The CEO and a Director also agreed not to sell any of their shares until May 1st, 2008.
Yahoo is one of the few quote services that seem to have the news and quote info correct:
http://finance.yahoo.com/q?s=ACRI.OB
(Below are some informational excerpts I found that will get you started on your research.)
_______________________________________________________
About Acro Inc. http://www.acrosec.com
Acro Inc. is involved in the development of explosives detection technologies. The company developed a
unique patented technology for identifying peroxide based explosives, such as TATP.
Acro's Advisory Board includes General (ret.) Ehud Barak, former IDF Chief of Staff and former Primer
Minister of Israel, Prof. K. Barry Sharpless, winner of the 2001 Nobel Prize for Chemistry, and Prof. Richard
A. Lerner, President & CEO of The Scripps Research Institute, which is considered one of the most influential
scientific institutes worldwide.
_______________________________________________________
Acro Reports on Independent Testing of Peroxide Explosive
Tester - P.E.T. By Rafael
Israel's National Defense Research and Development Defense Laboratory to Provide Third Party Verification
of Proprietary Technology
TEL AVIV, Israel--(BUSINESS WIRE)--January 29, 2007 Acro Inc. (OTC BB:ACRI) today announced that
Rafael, Israel's Armament Development Authority, and a world leader in the development and production of
advanced interdisciplinary weapon systems for naval, air and ground forces, is testing the Company's
proprietary Peroxide Explosive Tester - the ACRO-P.E.T.
Internationally renowned Rafael has been contracted to independently establish the product parameters in few
specific areas: selectivity tests to eliminate "false-positive" detections, performance in the presence of
"camouflaging materials", determination of threshold levels of detection and the mechanical reliability of the
product.
Initial tests on 600 units of the device have demonstrated that the ACRO-P.E.T can detect less than 50
micrograms (0.00005 gram) of TATP. Furthermore, 23 different commonly used and commercially purchased
materials were tested to verify that they do not provide false-positive results. The results were better than
pre-test expectations and have been published in a report. This invaluable report will be made available to
potential customers to clearly demonstrate the efficacy of the ACRO-P.E.T.
Acro intends to deliver the device to several international security agencies for further evaluation tests. The
receiving agencies are all governmental, national security agencies, such as the US Department of Homeland
Security. Several national police forces have also requested to receive evaluation units.
"Independent verification of the ACRO-P.E.T. product and its potential to address the threat of improvised
explosives by Rafael is of great assistance in propelling the Company from development to full-fledged
marketing. Acro is the only company using this technology which addresses the multitude of threats arising
from peroxide based explosives, which may appear in variety of shapes and form, including liquid explosives,"
stated Gadi Aner, Chairman of the Board.
TEL AVIV, Israel, November 27 /PRNewswire-FirstCall/ -- Acro Inc. (OTCBB: ACRI) announces that it
has completed the first production of its patented, Peroxide based explosives tester, the ACRO-P.E.T. This
device is one of the few products in the market that is able to identify the Peroxide based explosives, such as
the TATP, and is the only one using Acro's proprietary technology.
Acro intends to deliver these products to several international security agencies for evaluation tests. The
receiving agencies are all governmental, national security agencies, such as the US Department of Homeland
Security. Several national police forces have also requested to receive evaluation units.
Prof. Ehud Keinan, the inventor, a director and scientific advisor to Acro stated that "Acro's goal is to
ensure that its product meets all the standards and function as intended thus allowing us to finally be able to
provide a viable method of combating the terrible threat of terror with improvised explosives. Such explosives,
which can appear in many different forms and shapes, including liquids, are very difficult to detect.
ACRO-P.E.T. is the only product available using this technology for identifying peroxide based explosives."
_______________________________________________________
ARCO INC
Product
Our first product called the Peroxide Explosives Tester (ACRO-P.E.T). ACRO-P.E.T is a small disposable
pen like probe which detects the presence of peroxide-based explosives using three chemical solutions and
relies on direct contact with the suspicious substance. ACRO-P.E.T has been designed for rapid, on-site
detection of peroxide-based explosives. Its main advantages are high sensitivity, high selectivity, fast response,
simple operation, small size and cost effectiveness. In November 2006, we completed the first production of
the ACRO-P.E.T for evaluation by potential customers. We intend to deliver these products to several
international security agencies for evaluation tests. To date, the data supporting our development programs is
derived solely from laboratory and limited early stage trials that were not all designed to be statistically
significant or proof-of-concept trial, some of which are exploratory in nature. We cannot assure you that our
ACRO-P.E.T will gain commercial acceptance in the marketplace.
We plan to follow ACRO-P.E.T with additional future products utilizing our proprietary technologies and
public domain methods for detecting other explosives.
_______________________________________________________
(Formerly known as Medina International Corp OTCBB: MDIN until 2006)
Acro Inc (OTC: ACRI)
Industry: Oil Equipment & Services (older info from Answers.com)
Acro Inc. was incorporated in the State of Nevada on May 22, 2002. Since the Company's inception, its
business has been to provide professional consulting services for the technical and economic evaluation of
petroleum and natural gas resources. The primary services that the Company offered was conducting due
diligence on petroleum and natural gas projects, identifying potential petroleum and natural gas projects
available for acquisition by clients and the provision of professional services to petroleum and natural gas
clients primarily in the technical areas of geology, geophysics and petroleum engineering. Acro was not
successful in fully implementing its initial business plan for the consulting services and have decided to no
longer offer consulting services to oil and gas Companies. To better protect stockholder interests and provide
future appreciation, management have conducted an in-depth analysis of its business and decided to find a
product that the Company would be able to develop and license or sell. The product that it has found is a
method of detecting peroxide based explosives. When the Company completes its acquisition of U.S. Patent
No. 6,767,717 and the related intellectual property for its potential explosive detection device products,
the Company would be competing with other developers and manufacturers of explosive detection device. Several
corporate announcements have recently appeared in the media about efforts to develop devices that detect
Triacetone Triperoxide. Most of these devices are based on air-sampling followed by spectral analysis using
various methods. These instruments, which are quite heavy and expensive, are designed primarily for
checkpoint stations, such as airports. Nevertheless, none of them can compete with the Company's potential
peroxide based explosive detection device, which is a small, disposable device, portable, easy to operate for
quick analysis by anybody at any location. The Company plans to introduce its potential products to the
addressable markets such as the law enforcement agencies, military, airport security personnel and others
employed in security checkpoints at other locations vulnerable to terrorist attacks. Acro Inc. does not
currently have any employees.
_______________________________________________________
Professor Ehud Keinan (before joining ACRO inc)
Benno Gitter and Ilana Ben Ami Chair in Biotechnology
Born in Israel 1947
B.Sc. 1971 Tel Aviv Univ., M.Sc. 1972 Ben Gurion Univ., Ph.D. 1977 The
Weizmann Institute of Science
On Technion faculty since 1987
Adjunct Professor, Department of Molecular Biology and the Skaggs Institute
of Chemical Biology, The Scripps Research Institute, La Jolla, California.
Dean, Department of Chemistry (2004-2005)
This is a pure speculation play that I am guessing will be either a 70% loss or a 700% gain over the next year but after investigating, I personally like what I am finding. I found it by accident when searching for information on another stock. The product immediately caught my attention but I have been burned by "story" stocks before (they sound good but never make money), so I searched several message boards for stock hype but I did not find any with activity. I have been impressed so far with the company and the people involved. It is still an OTC penny stock so you must also consider the risk of stock manipulation no matter how good the company is.
The stock just did a private placement of $1.5 million with an off-shore company but according to the press release it was for a fixed amount @ $.75 cents per share with incentive warrants @$1.25 per share available in the future (so no convertible debenture to worry about). The CEO and a Director also agreed not to sell any of their shares until May 1st, 2008.
Now here is my personal quick assessment: ACRO inc Ticker ACRI (OTC:BB) is very thinly traded (not much daily volume) but the largest shareholder Ehud Keinan (see short bio below) who owns 30%, appears to be a straight shooter with good connections on his advisory board (like General (ret.) Ehud arak, former IDF Chief of Staff and former Primer Minister of Israel) and the product has recently tested well and appears to be in the right place at the right time to do very well if they can market it properly with the right price point and produce a quality product that customers are pleased with. Searching for company news can be tricky because they were listed in the oil services sector until 2006 (under the ticker MDIN) when the company made a complete change in direction and a new Board of Directors but they are still listed in the oil sector on most stock quotes plus many stock websites include news info for a different company called Acacia (which apparently used ACRI or ACRO a couple years ago).
Yahoo is one of the few quote services that seem to have the news and quote info correct:
http://finance.yahoo.com/q?s=ACRI.OB
Please do your own research and consider the high risks before investing.
Monty
(Below are some informational excerpts I found that will get you started on your research.)
_______________________________________________________
About Acro Inc. http://www.acrosec.com
Acro Inc. is involved in the development of explosives detection technologies. The company developed a
unique patented technology for identifying peroxide based explosives, such as TATP.
Acro's Advisory Board includes General (ret.) Ehud Barak, former IDF Chief of Staff and former Primer
Minister of Israel, Prof. K. Barry Sharpless, winner of the 2001 Nobel Prize for Chemistry, and Prof. Richard
A. Lerner, President & CEO of The Scripps Research Institute, which is considered one of the most influential
scientific institutes worldwide.
_______________________________________________________
Acro Reports on Independent Testing of Peroxide Explosive
Tester - P.E.T. By Rafael
Israel's National Defense Research and Development Defense Laboratory to Provide Third Party Verification
of Proprietary Technology
TEL AVIV, Israel--(BUSINESS WIRE)--January 29, 2007 Acro Inc. (OTC BB:ACRI) today announced that
Rafael, Israel's Armament Development Authority, and a world leader in the development and production of
advanced interdisciplinary weapon systems for naval, air and ground forces, is testing the Company's
proprietary Peroxide Explosive Tester - the ACRO-P.E.T.
Internationally renowned Rafael has been contracted to independently establish the product parameters in few
specific areas: selectivity tests to eliminate "false-positive" detections, performance in the presence of
"camouflaging materials", determination of threshold levels of detection and the mechanical reliability of the
product.
Initial tests on 600 units of the device have demonstrated that the ACRO-P.E.T can detect less than 50
micrograms (0.00005 gram) of TATP. Furthermore, 23 different commonly used and commercially purchased
materials were tested to verify that they do not provide false-positive results. The results were better than
pre-test expectations and have been published in a report. This invaluable report will be made available to
potential customers to clearly demonstrate the efficacy of the ACRO-P.E.T.
Acro intends to deliver the device to several international security agencies for further evaluation tests. The
receiving agencies are all governmental, national security agencies, such as the US Department of Homeland
Security. Several national police forces have also requested to receive evaluation units.
"Independent verification of the ACRO-P.E.T. product and its potential to address the threat of improvised
explosives by Rafael is of great assistance in propelling the Company from development to full-fledged
marketing. Acro is the only company using this technology which addresses the multitude of threats arising
from peroxide based explosives, which may appear in variety of shapes and form, including liquid explosives,"
stated Gadi Aner, Chairman of the Board.
TEL AVIV, Israel, November 27 /PRNewswire-FirstCall/ -- Acro Inc. (OTCBB: ACRI) announces that it
has completed the first production of its patented, Peroxide based explosives tester, the ACRO-P.E.T. This
device is one of the few products in the market that is able to identify the Peroxide based explosives, such as
the TATP, and is the only one using Acro's proprietary technology.
Acro intends to deliver these products to several international security agencies for evaluation tests. The
receiving agencies are all governmental, national security agencies, such as the US Department of Homeland
Security. Several national police forces have also requested to receive evaluation units.
Prof. Ehud Keinan, the inventor, a director and scientific advisor to Acro stated that "Acro's goal is to
ensure that its product meets all the standards and function as intended thus allowing us to finally be able to
provide a viable method of combating the terrible threat of terror with improvised explosives. Such explosives,
which can appear in many different forms and shapes, including liquids, are very difficult to detect.
ACRO-P.E.T. is the only product available using this technology for identifying peroxide based explosives."
_______________________________________________________
ARCO INC
Product
Our first product called the Peroxide Explosives Tester (ACRO-P.E.T). ACRO-P.E.T is a small disposable
pen like probe which detects the presence of peroxide-based explosives using three chemical solutions and
relies on direct contact with the suspicious substance. ACRO-P.E.T has been designed for rapid, on-site
detection of peroxide-based explosives. Its main advantages are high sensitivity, high selectivity, fast response,
simple operation, small size and cost effectiveness. In November 2006, we completed the first production of
the ACRO-P.E.T for evaluation by potential customers. We intend to deliver these products to several
international security agencies for evaluation tests. To date, the data supporting our development programs is
derived solely from laboratory and limited early stage trials that were not all designed to be statistically
significant or proof-of-concept trial, some of which are exploratory in nature. We cannot assure you that our
ACRO-P.E.T will gain commercial acceptance in the marketplace.
We plan to follow ACRO-P.E.T with additional future products utilizing our proprietary technologies and
public domain methods for detecting other explosives.
_______________________________________________________
(Formerly known as Medina International Corp OTCBB: MDIN until 2006)
Acro Inc (OTC: ACRI)
Industry: Oil Equipment & Services (older info from Answers.com)
Acro Inc. was incorporated in the State of Nevada on May 22, 2002. Since the Company's inception, its
business has been to provide professional consulting services for the technical and economic evaluation of
petroleum and natural gas resources. The primary services that the Company offered was conducting due
diligence on petroleum and natural gas projects, identifying potential petroleum and natural gas projects
available for acquisition by clients and the provision of professional services to petroleum and natural gas
clients primarily in the technical areas of geology, geophysics and petroleum engineering. Acro was not
successful in fully implementing its initial business plan for the consulting services and have decided to no
longer offer consulting services to oil and gas Companies. To better protect stockholder interests and provide
future appreciation, management have conducted an in-depth analysis of its business and decided to find a
product that the Company would be able to develop and license or sell. The product that it has found is a
method of detecting peroxide based explosives. When the Company completes its acquisition of U.S. Patent
No. 6,767,717 and the related intellectual property for its potential explosive detection device products,
the Company would be competing with other developers and manufacturers of explosive detection device. Several
corporate announcements have recently appeared in the media about efforts to develop devices that detect
Triacetone Triperoxide. Most of these devices are based on air-sampling followed by spectral analysis using
various methods. These instruments, which are quite heavy and expensive, are designed primarily for
checkpoint stations, such as airports. Nevertheless, none of them can compete with the Company's potential
peroxide based explosive detection device, which is a small, disposable device, portable, easy to operate for
quick analysis by anybody at any location. The Company plans to introduce its potential products to the
addressable markets such as the law enforcement agencies, military, airport security personnel and others
employed in security checkpoints at other locations vulnerable to terrorist attacks. Acro Inc. does not
currently have any employees.
_______________________________________________________
Professor Ehud Keinan (before joining ACRO inc)
Benno Gitter and Ilana Ben Ami Chair in Biotechnology
Born in Israel 1947
B.Sc. 1971 Tel Aviv Univ., M.Sc. 1972 Ben Gurion Univ., Ph.D. 1977 The
Weizmann Institute of Science
On Technion faculty since 1987
Adjunct Professor, Department of Molecular Biology and the Skaggs Institute
of Chemical Biology, The Scripps Research Institute, La Jolla, California.
Dean, Department of Chemistry (2004-2005)
I rarely post these days but I also wanted to thank you and pray for your quick recovery.
Monty