AGORACOM Small Cap TV - May 14th - Highlights
posted on
May 14, 2012 10:00AM
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 May 14th, 2012, and we’ve found 6 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 ... or click on the image below.
Duluth Metals Highlights 116.5 feet of 1.32 g/t Total Precious Metals and 2.57% Copper Equivalent Amongst Drill Results for 30 Holes at the Twin Metals Minnesota Project
Duluth Metals Limited ("Duluth Metals") (TSX: DM) (TSX: DM.U)
is pleased to announce strong assay results for continued drilling on the Twin Metals Minnesota Project in northeastern Minnesota. These drill holes continue to indicate continuity between the Nokomis and Maturi deposits, good widths and grades in Maturi at relatively shallow depths, and the continuity of Nokomis in and around the 'donut hole'. While these recently completed holes will not be incorporated into the resource estimate to be issued by AMEC this quarter, in the final Pre-Feasibility estimate the holes will be very valuable in upgrading portions of the resource from the Inferred to the Indicated category. In addition, given the demonstrated continuity between the Maturi and Nokomis deposits, Twin Metals Minnesota is consolidating the deposits as a single deposit under the name Maturi Deposit.
Nine holes drilled in and around the "Donut Hole" area show strong continuity and grade. One hole, MEX-291M, returned 116.5 feet of 1.043% copper, 0.330% nickel, 3.8 g/t silver and 1.324 grams per tonne (g/t) Total Precious Metals (TPM = Platinum+Palladium+Gold) (Cu Equivalent* of 2.57%) including a 70 foot section of 1.240% copper, 0.399% nickel, 4.5g/t silver and 1.558 g/t TPM (Cu Equivalent* of 3.07%). MEX-305 returned 170 feet of 0.845 copper, 0.255% nickel, 2.6 g/t silver and 0.888 g/t TPM (Cu Equivalent* of 1.96%) including a 20 foot section of 1.300% copper, 0.418% nickel, 3.5 g/t silver and 1.576 g/t TPM (Cu Equivalent* of 3.16%).
About Duluth Metals Limited
Duluth Metals Limited is committed to acquiring, exploring and developing copper, nickel and platinum group metal (PGM) deposits. Duluth Metals has a joint venture with Antofagasta plc on the Twin Metals Minnesota Project, located within the rapidly emerging Duluth Complex mining camp in north-eastern Minnesota. The Duluth Complex hosts one of the world's largest undeveloped repositories of copper, nickel and PGMs, including the world's third largest accumulation of nickel sulphides, and one of the world's largest accumulations of polymetallic copper and platinum group metals. Aside from the joint venture, Duluth Metals retains a 100% position on approximately 40,000 acres of mineral interests on exploration properties adjacent to and nearby the Twin Metals Minnesota LLC joint venture.
Last: 1.97Range: 2.97-1.81Market Cap: 247 million
Royal Nickel Revised Pre-feasibility Study Significantly Increases Dumont Nickel Project Value by 31% to $1.4 Billion (NPV8%)
Royal Nickel Corporation ("RNC") (TSX: RNX)
is pleased to announce the results of a revised pre-feasibility study ("revised PFS") for its Dumont Nickel Project ("Dumont"), which demonstrate a 31% increase to the project's NPV8%, to $1.4 billion compared to the previous PFS filed on SEDAR in December 2011.
Dumont Revised PFS Highlights (base case including trolley assist option)
"The revised PFS adds significant value to an already robust and structurally low cost project," said Tyler Mitchelson, President and CEO of Royal Nickel Corporation. "The inherent value of this project continues to be revealed as we advance the development and testwork. This revised PFS demonstrates lower costs, higher annual production and improved rates of return, compared to our initial PFS. In addition, we have identified further potential value from a saleable iron ore by-product concentrate. Development work at Dumont continues on schedule and we look forward to completing our feasibility study in 2013."
About Royal Nickel Corporation
Royal Nickel Corporation is a mineral resource company focused primarily on the exploration, evaluation development and acquisition of base metal and platinum group metal properties. RNC's principal asset is the 100% owned Dumont Nickel Project strategically located in the established Abitibi mining camp, 25 kilometres northwest of Amos, Quebec. RNC has a strong management team and Board with over 100 years of mining experience in the nickel business at Inco and Falconbridge. The Corporation's common shares and warrants trade on the TSX under the symbols RNX and RNX.WT.
Last: 0.38Range: 1.71-0.335Market Cap: 34 million
Sunridge Gold Announces Positive Feasibility Study for the Debarwa Deposit, Asmara Project, Eritrea
Sunridge Gold Corp. (TSX VENTURE:SGC)(OTCQX:SGCNF)
is pleased to announce the completion and positive results of an independent feasibility study (the "Study") by lead engineer SENET (Pty) Ltd. ("SENET") for its 100% owned Debarwa volcanogenic-massive-sulphide (VMS) copper-gold-zinc deposit, part of the Asmara Project, Eritrea. The Study has concluded that operating Debarwa as a stand-alone mining operation is economically viable. The recently commenced feasibility study on the Asmara North deposits will also examine the integration of the Debarwa deposit with the Asmara North deposits into one operation.
Debarwa Feasibility Study Base Case Highlights:
About Sunridge: Sunridge is a mineral exploration and development company focused on the acquisition, exploration, discovery and development of base and precious metal deposits on the Asmara Project in Eritrea and exploration properties in Madagascar. Sunridge currently has approximately 117 million shares outstanding and trades on the TSX Venture Exchange under the symbol SGC.
Last: 0.37Range: 0.980.315Market Cap: 43 million
Final Results from Winter Drilling at Valentine Lake Gold Project in Newfoundland include 8.06 g/t Au Over 11.4 Meters in Hole VL-12-410
Mountain Lake Resources Inc (MOA - TSX Venture, MLKRF - OTC Pink),("Mountain Lake" or the "Company")
is pleased to report the final analytical results from the 2012 winter drilling program at the Valentine Lake Project, in central Newfoundland
The Valentine Lake Property, including the Leprechaun Gold Deposit, is a 50/50 joint venture between Mountain Lake and Marathon Gold Corp. Marathon is the operator of the Project.
Highlights from the Leprechaun Deposit include:
> Step-out drilling in the northeast area of the Leprechaun Deposit intersected multiple high-grade intervals up to 60 meters (m) down-dip from the Main Zone with 9.07 grams per tonne (g/t) gold (Au) over 6.80m including 66.63 g/t Au over 0.85m and 7.38 g/t Au over 2.55m including 22.05 g/t Au over 0.85m in VL-12-414 and 22.05 g/t Au over 2.25m including 66.03 g/t Au over 0.75m and 15.10 g/t Au over 2.25m including 42.45 g/t Au over 0.75m in VL-12-409.
> Step-out drilling in the central area of the Leprechaun Gold Deposit intersected high-grade intervals 40m down-dip from the Main Zone with 8.06 g/t Au over 11.4m including 29.54 g/t Au over 0.95m and 29.64 g/t Au over 0.95m in VL-12-410.
> Significant new near surface high-grade Hanging Wall mineralization include 15.80 g/t Au over 6.0m including 65.33 g/t Au over 0.75m in VL-12-416.
About Mountain Lake Resources Inc.
Mountain Lake Resources Inc. (TSX-V: MOA) is a diversified junior exploration company, whose corporate strategy is to build shareholder value through the exploration and development of economically viable mineral properties all located on the pro-mining island of Newfoundland. Mountain Lake's current projects include: a 50% interest in the Valentine Lake gold property under the joint venture with Marathon Gold Corp. (drilling in progress); a 100% interest in the Glover Island gold exploration property; an option to earn a 100% interest in the Little River gold-antimony exploration property; a 100% interest in the Bobby's Pond base metals property.
Last: 0.27Range: 0.82-0.255Market Cap: 13.6 million
Atna Reports First Quarter 2012 Pre-tax Earnings of $2.9 Million
Atna Resources Ltd. ("Atna" or the "Company") (TSX:ATN / OTCBB:ATNAF) today released unaudited interim financial results for the Company's first quarter; ended March 31, 2012. Unless otherwise designated, all amounts are in U.S. dollars. Additional details may be found in the MD&A and Financials filed on SEDAR, on EDGAR, or on the Company's website at www.atna.com.
Highlights for First Quarter 2012:
Atna generated net income of $1.9 million or $0.02 per basic share, in the First Quarter 2012. Income before income tax was $2.9 million. As of quarter-end, cash and cash equivalents were $12.3 million.
The Briggs mine sold 9,367 ounces of gold in First Quarter 2012, a 43 percent increase over First Quarter 2011 results, to produce $15.8 million in gross revenue, a 72 percent increase over First Quarter 2011 gross revenue. The average selling price per ounce of gold was $1,683 in First Quarter 2012 versus $1,398 in First Quarter 2011.
Briggs produced $6.3 million in positive operating cash flow and $4.9 million of income before tax in the First Quarter 2012.
Development of the underground mine at Pinson progressed in the First Quarter 2012 with $3.5 million spent on capital development, hiring of key staff, mobilizing the mining contractor, establishing surface support, rehabilitating existing underground workings. 1,500 tons of ore were mined to be used for a bulk sample in testing by third-party processing facilities. As of May 11, 2012, approximately 35 percent of the secondary access has been completed.
Drilling commenced at Pinson to acquire metallurgical samples for use in a feasibility study of an open pit mine adjacent to the underground mine.
The State of Montana approved the final topsoil capping of the Kendall Mine leach pads and agreed on a plan to complete the environmental impact study required for final closure.
In February 2012, the term of the C$20 million facility with Sprott Resource Lending Partnership was extended, now due in three payments in 2013.
About
Atna is building a successful gold mining company dedicated to responsible gold production and the creation of sustainable value for shareholders, employees and communities. Atna's professional management team is committed to integrity and creating a performance driven culture dedicated to safety and environmental responsibility.
Last Trade: 0.95 52 Week: 1.58 – 0.53 Market Cap: 115.49 Million
Operating income was $557,000 versus $1.6 million in the first quarter a year ago.
Net income in the first quarter was $278,000, or $0.01 per share, versus net income of $885,000, or $0.04 per share, in the same period a year ago.
First quarter adjusted EBITDA* was $2.0 million versus $2.8 million in the same quarter last year.
About ENSERVCO
Through its various operating subsidiaries, ENSERVCO has rapidly emerged as one of the energy service industry's leading providers of hot oiling, acidizing, frac heating and fluid management services. The Company owns and operates a fleet of more than 245 specialized trucks, trailers, frac tanks and related well-site equipment. ENSERVCO operates in Colorado, Kansas, Montana, New Mexico, North Dakota, Oklahoma, Pennsylvania, Texas, Utah, Wyoming and West Virginia.
Last Trade: 0.57 52 Week: 1.50 – 0.53 Market Cap: 12.41 Million