AGORACOM Small Cap TV - March 1st - Highlights
posted on
Mar 01, 2011 08:57AM
Good morning to you all. Please find enclosed a summary of the breaking small-cap and micro-cap financial news we highlighted on AGORACOM Small Cap TV this morning. It’s March 1st, 2011, and we’ve found 2 great press releases to report on at the open. Another great day for small-cap and micro-cap financial news. To watch the show live every morning at 9:30 AM, visit our front page.
Bayfield Drills 13.0 g/t Au and 70.22 g/t Ag over 6.6m within 39.95m of 2.51 g/t Au and 20.47 g/t Ag in Rainy River, NW Ontario
Bayfield Ventures Corp. (TSX-V: BYV) (FWB: B4N)
announce additional significant gold intercepts on its 100% owned Burns Block property in the Rainy River District of north-western Ontario.
Highlights: * Notable high grade gold intercept: 13 g/t gold over 6.6 metres, within 39.95 metres of 2.51 g/t gold in drill hole RR11-5. *
The gold zone in RR11-5 represents the up-plunge extension of the high grade mineralization intercepted in previous holes RR10-15, RR10-18, RR10-52 and RR11-1. * Significant silver mineralization accompanying gold mineralization in RR11- 5 including 70.22 g/t silver over 6.6 metres within 39.95 metres of 20.47 g/t silver.
* East step out hole RR11-2, located 140 metres east of the west Burns boundary, intersects 4.1 metres of 1.85 g/t gold and 2 metres of 2.44 g/t gold within 29.5 metres of 0.60 g/t gold. Silver assays are pending.
* Gold intercepts reported on Bayfield's Burns Block continue to define eastern extension of Rainy River Resource's main ODM17 gold zone.
* Infill and up-plunge extension drilling on the high grade zone continues with one rig
* Expansion drilling of the continuation of the ODM17 zone to the east on the Burns Block continues with second rig.
* Assays pending for ten more holes.
About Bayfield Ventures Corp.:
Bayfield Ventures Corp. is exploring for gold in the Rainy River District of north-western Ontario.On February 15th, Bayfield Ventures was recognized as a TSX Venture 50® company in 2011. TSX Venture 50 is a trade-mark of TSX Inc. and is used under license.
Last Sale: 0.83 52 Week Range: 0.22 - 1.38 Market Cap: 42.59M
GALWAY INTERSECTS 15.7 M OF 8.0 G/T GOLD AND THICK INTERVALS IN THE GAP BETWEEN THE PIE DE GALLO AND NORTHEAST ZONES
Galway Resources Ltd. (GWY: TSX-V)
-announce assay results from six additional drill holes from its diamond drill exploration program on the Company's California property in Colombia. All six holes returned between three and five intercepts of significant gold mineralization, half of the holes intercepted over 90 meters of over 1 g/t gold, and all of the holes returned silver mineralization as well. Galway's California property is located adjacent to, and along strike to the southwest of Ventana's La Bodega/La Mascota project, and three km to the southwest of Greystar's Angostura project, which is also along strike.
Pie de Gallo Zone Highlights:
GWY-86
GWY-83
About the Company Galway Resources is a well capitalized company, primarily focused on the exploration of gold and coal in Colombia. The core focus of the Company is gold exploration in northeast Colombia, with a drill program occurring at the California gold project and a geophysical program being undertaken at the Vetas gold project, which will be followed by a drill program later this month. The Company has also reported that drilling occurred in 2010 at the GALCA coal project, which is being managed and funded by Prodeco, the Colombian subsidiary of Glencore. Efforts are underway to secure access from GALCA property owners to move the drill rig to the next set of planned drill sites.
Last: 1.29Range: 1.37-0.63Market Cap: 106 Million
China Energy Corp. Reports Record Fiscal Year 2010 Results; Revenues increase 103% to $88 million and net income increases 245% to $17.6 million
HOHHOT CITY, China, March 1, 2011 /PRNewswire-Asia-FirstCall/ -- China Energy Corporation (OTC Bulletin Board:CHGY.ob - News), ("China Energy" or the "Company"), a producer and trader of coal for domestic heating, electrical generation, and coking purposes and a supplier of heating and electric energy services in Inner Mongolia, today announced financial results for the fourth quarter and fiscal year ended November 30, 2010.
Summary Financials
FY 2010 Year End Results |
|||||
USD |
FY 2010 |
FY 2009 |
Change |
||
Sales |
$88.0 million |
$43.3 million |
+103.2% |
||
Gross Profit |
$33.9 million |
$14.0 million |
+142.1% |
||
Net Income |
$17.6 million |
$5.1 million |
+245.1% |
||
EPS (fully diluted) |
$0.39 |
$0.11 |
+254.5% |
||
Fourth Quarter Results (3 months ended November 30) |
|||||
USD |
FY 2010 |
FY 2009 |
Change |
||
Sales |
$25.6 million |
$23.9 million |
+7.1% |
||
Gross Profit |
$9.9 million |
$11.3 million |
(12.4%) |
||
Net Income |
$4.9 million |
$7.1 million |
(31.0%) |
||
EPS (fully diluted) |
$0.11 |
$0.16 |
(31.3%) |
About China Energy Corporation
China Energy Corporation is a producer and trader of coal for domestic heating, electrical generation and coking purposes for steel production primarily in the People's Republic of China. The Company produces coal through its subsidiary Inner Mongolia Tehong Coal Group Co, Ltd. ("Coal Group") and supplies heating and electricity requirements throughout the XueJiaWan district through its subsidiary Inner Mongolia Zhunger Heat Power Co., Ltd. ("Heat Power").
Last Trade: 1.3852 Week: 4.12 – 0.80Market Cap: 62.1 Million