Message: AGORACOM Small Cap TV - March 30th - Highlights
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 30th, 2011, and we’ve found 7 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.
DDS Wireless' Taxi Unit Signs $3.8 Million Contract to Upgrade European Customer
DDS Wireless International Inc. (TSX:DD) ("DDS" or "the Company") announces today that its Taxi business unit, Digital Dispatch Systems, has signed an important contract with Helsinki Taksi-Data Oy ("Helsinki Taxi") for the sale of the Company's Vector 9000™ mobile data terminals to replace a previous generation DDS system. Under the agreement, Helsinki Taxi will be upgrading its entire fleet. The contract has a value of $3.8 million.
The largest taxi operator in Finland, Helsinki Taxi is one of several leading European taxi companies that rely on DDS fleet management technologies. This group of customers includes Taxis G7 of Paris, Taxi Stockholm, SKT Copenhagen and Taxi Düsseldorf.
"DDS has proven itself over several years as a trusted and reliable partner," stated Eero Keinänen, Chairman of the Board of Helsinki Taksi-Data Oy. "We have been very pleased with the performance of the DDS products and services, and are convinced that the Vector 9000™ mobile data terminal is the best choice to meet the demanding needs of our taxi business."
About DDS Wireless International Inc.
DDS Wireless International Inc. is a global leader in providing application software for multiple vertical markets within the transportation industry. The Company specializes in transit routing and scheduling, real-time dispatching, vehicle location and tracking software applications, communications infrastructure as well as in-vehicle wireless devices. DDS Wireless operates four businesses dedicated for Transit, Taxi, Limousines and Work Truck, and Wireless Devices and Communication Infrastructure. The Company supports its customers worldwide through its offices in Canada, Finland, Singapore, Sweden, U.K. and U.S.A.
Last Sale: 2.5052 Week Range: 1.28 - 3.00 Market Cap: 34.47M
Sama Resources Intersects 13.7 Metres of Up to 2.5% Nickel at Its Nickel-Cobalt-Scandium Laterite Deposit
Sama Resources Inc. (TSX VENTURE:SME) -
Sama Resources Inc. ("Sama" or the "Company") is pleased to announce assay results for drilling at the Company's Sipilou South nickel-cobalt-scandium rich laterite deposit located within the Samapleu exploration license, in Western Côte d'Ivoire, Africa.
Highlights:
* A 3.1km2 deposit of nickel-cobalt-scandium rich laterite has been outlined from 17 boreholes drilled on a 400 x 800 metre grid.
* Intercepts include: 13.7 metres of 2.5% nickel, 11.0 metres of 1.9% nickel, 19.5 metres of 1.5% nickel, 16 metres of 1.4% nickel.
* A NI43-101 compliant Inferred Mineral Resource for the Sipilou South deposit will be completed within a few months.
In February, 2011, the Company drilled 22 holes totalling 813 metres on a 400 metre by 800 metre grid. In total, 17 of the 22 holes outlined a mineralized surface area of 3.1km2; comprising a continuous nickel-cobalt-scandium rich surface laterite deposit. To date, assay results for 15 of the 17 mineralized holes have been received. Individual cobalt and scandium assays reach up to 0.34% and 110ppm respectively in the limonitic section of the Sipilou South deposit.
About the company
Sama Resources Inc. ("Sama") (TSX.V: SME) is a growth-oriented resource company focused on exploring the Samapleau Nickel/Copper project in Ivory Coast, West Africa and the Bonanza Gold project in Arizona. The company is well financed and managed by experienced industry professionals with a strong track record of discovery. The Samapleu Project is a joint venture amongst Sama's 100% owned subsidiary, SAMA Nickel Corporation ("SAMA") (66⅔%) and Société pour le Développement Minier de Côte d'Ivoire ("SODEMI") (33⅓%).
Last Sale: 0.3452 Week Range: 0.30 - 0.50 Market Cap: 18.47M
Diamcor Signs Strategic Agreement and Closes $5.5 Million Financing with New York Based Tiffany & Co.
DIAMCOR MINING INC. TSX.V Symbol (DMI)
announce that it has entered into a long-term strategic alliance and closed a financing with world famous premier luxury jewellery and specialty retailer, New York based Tiffany & Co.
Tiffany & Co., in conjunction with their diamond sourcing and polishing subsidiary Laurelton Diamonds South Africa (Proprietary) Limited ("Laurelton"), and the Company, in conjunction with its subsidiary DMI Minerals South Africa (Proprietary) Limited ("DMI Minerals"), have entered into a strategic agreement (the "Off-Take Agreement") regarding future rough diamond production from the Krone-Endora at Venetia project ("Krone-Endora"), which the Company recently acquired from De Beers Consolidated Mines Limited ("De Beers").
Under the terms of the Off-Take Agreement, Tiffany & Co., through Laurelton, secured a first right of refusal to purchase up to 100% of the production of rough diamonds from Krone-Endora at fair market value prices to be negotiated and adjusted from time-to-time to reflect current market conditions. DMI Minerals retains the right to freely market any rough diamond production and specials (rough diamonds 10.8 carats or larger in size) which are not selected for purchase by Laurelton.
To expedite the production and supply of rough diamonds from Krone-Endora, Tiffany & Co. provided the Company with an aggregate amount of $5,500,000 in financing through its subsidiary, Tiffany & Co. Canada. The financing includes a $3,500,000 term loan (the "Term Loan") and a $2,000,000 convertible debt debenture (the "Convertible Debenture").
About Diamcor Mining Inc:
Diamcor Mining Inc. is a fully reporting publically traded junior diamond mining company which is listed on the TSX Venture Exchange under the symbol V.DMI. The Company has well established operational and production history in South Africa, and extensive experience supplying rough diamonds to the world market. Rather than exposing itself to the high-risks and costs associated with exploration, the Company's focus is on the identification, acquisition, and operation of quality near-term production based diamond projects.
Last: 0.46Range: 0.50-0.21Market Cap: 11.7 Million
Sandstorm Gold Announces the Completion of Underground Construction at Brigus Gold's Black Fox Mine and Payment of US$9 Million to Metanor Resources
Sandstorm Gold Ltd. (TSX VENTURE:SSL) ("Sandstorm") is pleased to report that Brigus Gold Corp. ("Brigus") (TSX:BRD)
has successfully completed construction of the new underground infrastructure at its Black Fox Mine ("Black Fox"). Underground ore production is underway and is expected to exceed 250 tonnes per day ("tpd") at the end of March 2011, reach commercial production in April 2011 and ramp up to 1,100 tpd by the end of 2011.
The anticipated increase in production is due in part to the new 1.1 kilometre ramp leading from surface to the 235 metre level underground, enabling Brigus to use its much larger and more productive haulage fleet.
While the underground infrastructure was being constructed, mining from Phase 1 open pit operations were restricted, but Phase 2 open pit operations commenced on March 23, 2011 following the commissioning of a new ventilation and service raise and removal of the old facility. The Black Fox Mill is expected to operate with feed coming from both the underground and the open pit at 2,000 tonnes per day.
Under the terms of the gold purchase agreement announced on November 9, 2010, Sandstorm is entitled to purchase 12% of the life of mine gold produced from Black Fox at a per ounce price equal to the lesser of US$500 and the then prevailing market price of gold. For more information on the Black Fox Mine please visit the Brigus Gold website at www.brigusgold.com.
Metanor Resources
Sandstorm has remitted US$9 million to Metanor Resources Inc. ("Metanor") (TSX VENTURE:MTO) in accordance with the gold purchase agreement announced on January 17, 2011. Under the terms of the agreement, Sandstorm is entitled to purchase 20% of the life of mine gold produced from the Bachelor Lake project at a per ounce price equal to the lesser of US$500 and the then prevailing market price of gold.
Metanor has now received US$14 million from Sandstorm with the final US$6 million payment scheduled for September 1, 2011.
52 Week Range: 0.25 - 0.71 Market Cap: 40.18M
ABOUT SANDSTORM GOLD
Sandstorm Gold Ltd. is a growth focused resource based company that seeks to complete gold purchase agreements with companies that have advanced stage development projects or operating mines. A gold purchase agreement involves Sandstorm making an upfront cash payment to its partners and in exchange, Sandstorm receives the right to purchase a percentage of the gold produced for the life of the mine, at a fixed price per ounce. Sandstorm helps other companies in the resource industry grow their business, while acquiring attractive assets in the process.
Last Sale: 0.88 52 Week Range: 0.58 - 0.95 Market Cap: 279.90M
Corvus Gold Intersects 15 Metres of 2.4 g/t Gold at the North Bullfrog Project, Alaska
Corvus Gold Inc. (TSX:KOR)
announces the latest results from its ongoing drill program at the North Bullfrog Project near Beatty, Nevada.
Highlights from drilling include 15.2 metres of 2.4 g/t gold at the new Connection target; 62.5 metres of 0.5 g/t gold at the Yellow Jacket target; 64.0 metres of 0.5 g/t gold at the Savage Valley target; and 19.8 metres of 0.6 g/t gold at the Jolly Jane target (see Figure 1). The continued success of drilling in all target areas has led to a further expansion of the initial 2011 drilling program to 15,000 metres, and the program will therefore now continue through to the end of May
About Corvus Gold Inc.
Corvus Gold Inc. is a resource exploration company, focused in Alaska and Nevada, which controls a number of exploration projects representing a spectrum from early-stage to advanced gold projects. Corvus is committed to building shareholder value through new discoveries and leveraging those discoveries via partner funded exploration work into carried and/or royalty interests that provide shareholders with exposure to gold production to maximize the value for their investment.
Last Sale: 0.74 52 Week Range: 0.54 - 1.40 Market Cap: 30.83M
Ever-Glory Reports 2010 Full Year Financial Results
Ever-Glory International Group, Inc. (the "Company," "Ever-Glory") (NYSE Amex: EVK), a leading apparel supply chain manager and retailer based in China, today reported its financial results for its fiscal year ended December 31, 2010.
Full Year 2010 Highlights
- Total net sales increased 49.3% to $134.1 million
- Gross profit increased 42.9% to $26.2 million
- Income from operations increased 8.2% to $6.6 million
- Acquired the 40% non-controlling interest in LA GO GO, bringing the Company's ownership of its retail segment to 100%
For 2010, GAAP net income attributable to the Company was $6.7 million, or $0.45 per diluted share, an increase of 56.4% from $4.3 million, or $0.29 per diluted share in 2009. GAAP net income attributable to the Company results for 2010 include approximately $1.0 million, or $0.07 per diluted share, of non-cash income related to the change in fair value of a derivative liability compared to approximately $1.1 million, or $0.08 per diluted share, of non-cash expense related to the change in fair value of a derivative liability in 2009. Excluding these non-cash items for 2010 and 2009, non-GAAP diluted earnings per share were $0.38 in 2010 compared to $0.37 in 2009
About Ever-Glory International Group, Inc.
Based in Nanjing, China, Ever-Glory International Group, Inc. is a leading apparel supply chain manager and retailer in China. Ever-Glory is the first Chinese apparel Company listed on the American Stock Exchange (now called NYSE Amex), and has a focus on middle-to-high grade casual wear, outerwear, and sportswear brands. Every-Glory maintains global strategic partnerships in Europe, the United States, Japan and China, conducting business with several well-known brands and retail chain stores. In addition, Ever-Glory operates its own domestic chain of retail stores known as "LA GO GO."
Last Trade: 1.96452 Week: 3.79 – 1.59Market Cap: 28.97 Million
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China Wind Systems, Inc. Reports Fourth Quarter and Full Year 2010 Results
China Wind Systems, Inc. (Nasdaq:CWS - News), ("China Wind Systems" or the "Company"), a leading supplier of forged rolled rings and other forged components to the wind power and other industries and industrial equipment primarily to the textile industry in China, today announced its financial results for the fourth quarter and full year ended December 31, 2010.
Fourth Quarter 2010 Financial Highlights
- Revenue increased 41.5% year-over-year to $22.5 million
- Revenue from the sale of forged products to the wind power and other industries increased 62.8% year-over-year to $17.0 million, or 75.8% of revenue
- Revenue from the sale of forged products exclusively to the wind power industry increased 76.5% year-over-year to $12.1 million, or 53.6% of revenue
- Operating income increased 17.9% year-over-year to $4.4 million
- Earnings before interest, taxes, depreciation and amortization (EBITDA), a non-GAAP measurement, increased 26.5% year-over-year to $5.5 million
- Net income increased 16.6% to $3.1 million, or $0.13 per diluted share
- The Company received a new $3.0 million order to supply 1,500 units of high-speed shafts to Nanjing Chang Feng New Energy Holdings ("Nanjing Chang Feng"). The Company commenced shipping the order in December 2010 and expects to complete the order by June 30, 2011
- The Company received a conditional purchase order for approximately $1.0 million to supply precision manufactured subassemblies for solar cell manufacturing equipment, for which the initial units were delivered in March 2011.
Full Year 2010 Financial Highlights:
- Revenue increased 48.8% year-over-year to $79.5 million
- Revenue from the sale of forged products to the wind power and other industries increased 63.3% year-over-year to $58.3 million, or 73.4% of revenue
- Revenue from the sale of forged products exclusively to the wind power industry increased 102.3% year-over-year to $40.6 million, or 51.1% of revenue
- Operating income increased 44.8% year-over-year to $15.5 million
- EBITDA increased 47.8% year-over-year to $18.8 million
- Net income increased 45.5% to $11.1 million, or $0.44 per diluted share
About China Wind Systems, Inc.
China Wind Systems, Inc. is a profitable, rapidly growing supplier of precision forged components primarily to the wind industry in China - the world's leading wind-power market. The Company also supplies forged and other components and fabricated products to other industries.
Last Trade: 3.4552 Week: 5.80 – 2.80Market Cap:” 64 Million
Minera Andes Announces 2010 Full Year Financial Results and Record Earnings for Fourth Quarter 2010
Minera Andes Inc. (the "Company" or "Minera Andes") (TSX: MAI)(OTCBB: MNEAF) is pleased to announce net income of $30.9 million ($0.12 per share basic and $0.11 per share diluted) for the year ended December 31, 2010, an increase of $26.8 million compared to net income of $4.1 million ($0.02 per share basic and diluted) for the year ended December 31, 2009. On a quarterly basis the company reported net income of $18.8 million for the fourth quarter of 2010, an increase of $16.4 million ($0.07 per share basic and diluted) compared to net income of $2.4 million ($0.01 per share basic and diluted) for the same period ended December 31, 2009. All amounts in this news release are in US dollars unless otherwise noted.
Highlights - Full Year 2010
San Jose Mine Performance (on a 100% basis): Net income width="10" /> Mine increased by $54.6 million compared to 2009 driven
primarily by higher realized prices and increased production. The
average gross sale price per ounce of silver and gold was $23.36 and
$1,281, respectively, an increase of 58% and 28% compared to 2009.
Production during 2010 was 5,323,842 ounces of silver and 84,303 ounces
of gold. Silver production increased by 7% while gold production was 9%
higher, compared to 2009.
San Jose Mine Exploration: The Company announced on October 7, 2010, the
discovery of 9 new high-grade gold/silver veins plus important
extensions of 2 other veins, which together total more than 5 kilometres
in strike length at the San Jose Mine. Further to this discovery, the
Company announced on March 10, 2011, an additional 2 new veins within
the area of the existing San Jose mining operations totaling a further
2.5 kilometres of strike length.
About Minera Andes
Minera Andes is an exploration company exploring for gold, silver and copper in Argentina with three significant assets: A 49% interest in Minera Santa Cruz SA, owner of the San Jose Mine in close proximity to Goldcorp's Cerro Negro project; 100% ownership of the Los Azules copper deposit with an inferred mineral resource of 10.3 billion pounds of copper and an indicated resource of 2.2 billion pounds of copper; and, 100% ownership of a large portfolio of exploration properties in Santa Cruz province, Argentina, including properties bordering the Cerro Negro project in Santa Cruz Province.
Last Trade; 2.9852 Week: 3.2654 – 0.67773 Market Cap: 841.27 Million
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