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10/03/10 Bandanna Energy One2One Investor Presentation 10 March 2010
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10/03/10 TNG One2One Investor Presentation 10 March 2010
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10/03/10 NuPower Resources One2One Investor Presentation 10 March 2010
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10/03/10 Rey Resources One2One Investor Forum Presentation 10 March 2010
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26/02/10 Hillgrove Resources One2One Investor Forum Presentation Sydney 10 Feb 2010
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22/06/09 Moly Mines speaks to Proactiveinvestors
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04/03/09 Chris Farmer of Finders Resources Talks to Proactiveinvestors
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02/03/09 Brad Sampson of Discovery Metals talks to Proactiveinvestors
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17/02/09 Michael Masterman of Po Valley Energy talks to Proactiveinvestors
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16/06/08 John Teeling of Connemara Mining talks to Proactive
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rs/he/ot
HB Markets Daily Smallcap Newsflash including GB Group, Mirada, Stellar Diamonds, TEG Group and others : GB Group (GBG, 22.75p, £19.46m) The British Film Institute (BFI) has awarded GBG a contract that underpins its customer relationship marketing and strategy. The contract will unify the BFI’s database into a single view – thus enabling a clearer view of the available data. We will maintain a HOLD for the time being and await the period (March) year end trading update – which will refocus investors minds on the March 2011 numbers where its potentially trading on 12x PER or less – which is getting more attractive. Metals Exploration (MTK, 14.25p, £38.1m) has announced securing the Environmental Compliance Certificate, a key milestone on the way to developing its Runruno Gold-Molybdenum Project in Luzon, northern Philippines. SPECULATIVE BUY Mirada (MIRA, 23.5p, £4.66m) has agreed to supply R&D services to a leading European telco operator. The dedicated team will work to enable VOD and enhance offerings to its 1.6m IPTV client base. The group remains a SPECULATIVE BUY on the momentum it is building for the future rather than the short term rating. Netcall (NET, 16.75p, £10.75m) Interim results to December 2009 saw revenues of £1.86m (£2.01m) with stable gross margins and lower admin expenses leading to PBT of £0.35m (£0.54m). Recurring revenues accounted for £1.6m of the total and the group is cash generative on that level of revenues alone. The group saw net cash decline to £1.90m (£4.16m) but the majority of the decline (£2m) was due to the acquisition of Q-Max in the period. Q-Max brought 3 contracts during the 3-month part period and will ensure H2 is ahead, boosted by new integrated products. The group is trading on some 10x PER to June 2010, falling to some 8x the following year. For the time being we maintain the HOLD recommendation. Protonex Technology Corporation (PTX, 35.5p, £23.08m) AGM trading update confirms the group is on the production track with 2 new products launched already with another 2 anticipated before the year end. The raft of US Government related contracts will help the group reach record revenues for the year ending September 2010. One wrinkle is the fuel cell programme for a UAV has been terminated as the US DOD wished the programme to be run by the overall UAV contractor – this will lead to a gap in the work while negotiations are completed but Protonex believes it will receive more funding as a result than the remaining $0.5m of work under the old contract. As is expected the group has announced its plans o raise capital during the current year have started. Given the inevitable dilution we move the shares to a HOLD till the funding route is more clear. Stellar Diamonds (STEL, 16.75p, £16.2m) the West Africa diamond exploration and production company provides an operational update. Mandala production was over 64k carats at an average grade of c.42 cp/ht since mid-2009 while a 37 carat fancy yellow stone has been mined from Mandala and is currently being valued in Antwerp. The expansion programmes at both Mandala and Bomboko mines are underway and the statement cites synergies from the recent reversal of West African Diamonds. There are indications of an improvement in the rough diamond market with the latest sale of 6k carats from Mandala in early March at an average price of $42 per carat compared to an average price of c$30. The higher quality Bomboko mine (>55% gem quality) produced 2.6k carats since trial mining commenced in Q4-2009 at an average grade of > 4 cpht with recent production seeing a significant increase in grade from 7cpht to 9cpht.Three diamond sales totalling 1.8k carats have been completed from Bomboko since July 2009, with prices progressively increasing from $114 per carat to $126 per carat. Equipment initiatives are expected to foster increased production to 2k carats per month in Bomboko and 12.5k carats from Mandala. This looks like good progress in relatively short order. Not surprisingly given the reversal has only recently been completed there is less to say on kimberlite exploration. Much of the upside is tied into the Kimberlite diamond projects in Tongo (Sierra Leone) and Droujba (Guinea). The company talks of potential surface bulk sampling and drilling to define geological models and establish early-stage diamond grades and values. SPECULATIVE BUY TEG Group (TEG, 40p, £21.22m) has won an agreement with Essex county council for the handling of co-mingled waste. The 4-year framework agreement will see TEG bid annually for the waste and it is estimated that the 6 months starting June 2010 will see the group receive between 7,000 and 11,000 tonnes. It will be processed in the Carleton Rode facility which was acquired in June 2009 and will see it at full capacity one year later. Still a BUY with a 75p price target.Turbotec Products (TRBO, 23.5p, £3.27m) has announced the expansion of its Hickory, North Carolina, facility at a cost of $3.75m, which will be met from existing lending facilities and anew mortgage, and the transfer of operations from its other, Connecticut, facility. Very sensible as the majority of the heat exchanger coil manufacturer’s products are used in air con units – which are more prevalent in the South of the country. However it will take time for the benefit to kick-in and the group has been the subject of a legal challenge by its major shareholder (who holds 56%), recently heard in the UK courts. For the time being we maintain our SELL recommendation with a 20p price target.Zenergy (ZEN, 116.5p, £80.32m) has been awarded a €0.175m grant from the German Federal Ministry of Education and Research to enhance the manufacturing of 2g materials. The development is critical to Zenergy as its wire is expensive against other super-conducting wire, which it is currently protecting itself against by selling only completed coil assemblies. Still a HOLD.
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EnviroGold assay results indicate high grade gold at Azuay project in Ecuador: EnviroGold (ASX: EVG) has received additional results from mapping and sampling of the extensive tunnel systems within EnviroGold’s 65% owned Azuay gold project in Ecuador.The latest assay results tabulated by EnviroGold‘s geological consultants, Buscoré, are from tunnels at the Papercorp mine and are from sample work carried out through January 2010 in the Bella Vista, Condor de Oro, and Reina del Cisne tunnels. The mine continues to display extremely high grade gold intercepts (high of 158g/t) with vein widths up to 1.5m.Progressive results from the Azuay project continue to reinforce Buscoré's view “that the mining target for the two concessions is between 3.0 million and 4.0 million tonnes grading in excess of 10g/t Au, which indicates a potential target resource in excess of 1 million oz Au.”The company said it is the intention of EnviroGold to determine the extension of the known veins and to identify others through diamond drilling once the environmental permitting is complete.Mapping and sampling of exposed veins in tunnels at the Papercorp mine will be completed within a week, with the last assay results returned in early March 2010. Buscoré geologists commenced mapping in the adjacent Pinglio mine on 5 February 2010 and are expected to take approximately six weeks to complete the task.The Reina del Cisne tunnel system accesses at least four veins of which veins 2 and 3 have returned additional sample results over previously reported results.Vein 2 is a quartz/calcite/pyrite/arsenopyrite vein with some gouge material. The vein is typically 1.2m to 2m in width with a NE-SW trend ranging from 40 to 60 degrees azimuth and varying in dip from 15 degrees to the South-East to 62 degrees to the North-West. The vein has been mapped and sampled for 43m to date.Vein 3 is a quartz/calcite/limonite clay-gouge vein, ranging between 0.43 to 0.8m in width. The vein trends NE to SW, dipping 18 to 23 degrees to the South-East and has been displaced by a normal fault with NW-SE direction. Mine development on this particular vein extends for 88m, all of which has been sampled.The Bella Vista tunnel accesses a single vein that is being developed over three levels. The vein has an East-West trend and consists of quartz/calcite/pyrite/arsenopyrite with traces of smectite gouge. The vein has an azimuth ranging from 81 to 105 degrees, is typically 0.36 to 1.3m wide, dipping 15 to 30 degrees to the South.The Condor de Oro tunnel system accesses three separate veins, sampled and identified as veins 1 to 3.Vein 1 is typically trending North-East and consists of quartz/calcite/pyrite and arsenopyrite. The vein varies between 0.45 to 1.1 m in width and is dipping 48 to 55 degrees to the South-East. The vein has been mapped and sampled for 47m.Vein 2 is a North-South trending vein consisting of quartz/calcite/antimonite/pyrite/ arsenopyrite and traces of gouge. The vein varies in width between 0.5 to 1.4m wide; azimuth of 160-186 degrees, dipping 50-60 degrees to the West. The vein was sampled for 60m.Vein 3 is a narrow vein, 0.16 to 0.3m in width, consisting of quartz/limonite, calcite and pyrite. This particular vein has been mapped for 57m over two levels.
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Syntopix set to raise £2 mln in placing to fund business development: Syntopix (AIM: SYN) has proposed a placing of nearly 3 million shares to raise £2 million to undertake further human use studies with its lead compounds that are set to commence this year.The placing price of 67 pence represents a discount of 9.5% to the stock’s closing price on Friday.The additional working capital will be used to fund the group’s ongoing research and business development activities and to maintain and further develop its intellectual property portfolio.The placing is now subject to shareholder approval.Following the issue of the placing shares, the directors will be interested in approximately 9.97% of the issued share capital of the company.Syntopix announced the fundraising plans last Friday, while saying that it was making progress, continuing to attract a number of commercial opportunities following last year’s completion of a Phase II clinical study and its evaluation agreement with a major consumer healthcare company.Syntopix's main development focus is on three core compounds, SYN0126, SYN1113 and SYN0017, each of which has multiple potential application across a number of large consumer healthcare markets including skincare, hair-care and oral health. The group has over 1,800 compounds in its R&D (research and development) library, with the most advanced lead compounds now entering commercialisation. Syntopix currently has 24 core families of patents/applications, of which 11 are granted in the UK, and they are all at various stages of application in key international markets.
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EnviroGold assay results indicate high grade gold at Azuay project in Ecuador: EnviroGold (ASX: EVG) has received additional results from mapping and sampling of the extensive tunnel systems within EnviroGold’s 65% owned Azuay gold project in Ecuador.The latest assay results tabulated by EnviroGold‘s geological consultants, Buscoré, are from tunnels at the Papercorp mine and are from sample work carried out through January 2010 in the Bella Vista, Condor de Oro, and Reina del Cisne tunnels. The mine continues to display extremely high grade gold intercepts (high of 158g/t) with vein widths up to 1.5m.Progressive results from the Azuay project continue to reinforce Buscoré's view “that the mining target for the two concessions is between 3.0 million and 4.0 million tonnes grading in excess of 10g/t Au, which indicates a potential target resource in excess of 1 million oz Au.”The company said it is the intention of EnviroGold to determine the extension of the known veins and to identify others through diamond drilling once the environmental permitting is complete.Mapping and sampling of exposed veins in tunnels at the Papercorp mine will be completed within a week, with the last assay results returned in early March 2010. Buscoré geologists commenced mapping in the adjacent Pinglio mine on 5 February 2010 and are expected to take approximately six weeks to complete the task.The Reina del Cisne tunnel system accesses at least four veins of which veins 2 and 3 have returned additional sample results over previously reported results.Vein 2 is a quartz/calcite/pyrite/arsenopyrite vein with some gouge material. The vein is typically 1.2m to 2m in width with a NE-SW trend ranging from 40 to 60 degrees azimuth and varying in dip from 15 degrees to the South-East to 62 degrees to the North-West. The vein has been mapped and sampled for 43m to date.Vein 3 is a quartz/calcite/limonite clay-gouge vein, ranging between 0.43 to 0.8m in width. The vein trends NE to SW, dipping 18 to 23 degrees to the South-East and has been displaced by a normal fault with NW-SE direction. Mine development on this particular vein extends for 88m, all of which has been sampled.The Bella Vista tunnel accesses a single vein that is being developed over three levels. The vein has an East-West trend and consists of quartz/calcite/pyrite/arsenopyrite with traces of smectite gouge. The vein has an azimuth ranging from 81 to 105 degrees, is typically 0.36 to 1.3m wide, dipping 15 to 30 degrees to the South.The Condor de Oro tunnel system accesses three separate veins, sampled and identified as veins 1 to 3.Vein 1 is typically trending North-East and consists of quartz/calcite/pyrite and arsenopyrite. The vein varies between 0.45 to 1.1 m in width and is dipping 48 to 55 degrees to the South-East. The vein has been mapped and sampled for 47m.Vein 2 is a North-South trending vein consisting of quartz/calcite/antimonite/pyrite/ arsenopyrite and traces of gouge. The vein varies in width between 0.5 to 1.4m wide; azimuth of 160-186 degrees, dipping 50-60 degrees to the West. The vein was sampled for 60m.Vein 3 is a narrow vein, 0.16 to 0.3m in width, consisting of quartz/limonite, calcite and pyrite. This particular vein has been mapped for 57m over two levels.
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Fluid Music Canada plans listing on AIM: Specialty music business Fluid Music Canada (TSX: FMN) wants to list its shares on the AIM market of the London Stock Exchange, expecting its shares to start trading in London on 14 April 2010.Fluid Music Canada sells its background music and messaging service to its customers and its specialty music compilations through its retail partners. Fluid's extensive music library includes over 1.8 million user-generated music tracks.The company has a market cap of C$89.81 million. Shares in the company have climbed from C$1.40 to the current C$1.71 over the past six months.
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Dart Mining encouraged by intersection of strong molybdenite at Morgan Porphyry, Vic: Dart Mining (ASX: DTM) has reported that the second diamond drill hole (DMMDD002) at the Morgan Porphyry Prospect in north east Victoria has intersected strong visible molybdenite mineralisation within the upper part of the target zone. A zone of strong molybdenite veining has been logged within strongly faulted sericite – silica altered sediments at approximately 411m depth. Molybdenite can be clearly seen on open fractures and faults and within narrow solid veins.Preliminary logging indicates molybdenite mineralisation is best developed below a pyrite altered dacitic dyke at approximately 400m with various styles of mineralisation intersected, all appearing to pre-date pyrite veining.DMMDD002 is currently at approximately 498 metres with the pattern of alteration and molybdenite mineralisation indicating proximity to the concealed porphyry target. The company said the intersection of breccia zones containing more than one phase of porphyry and fragments of mineralised silica vein material is also very encouraging.Drilling will continue to test the concealed porphyry target while also testing the depth projection of the multi-metal geochemical ring anomaly and will provide vital feedback on the geological model for the Morgan Porphyry Prospect. The current diamond drill hole, DMMDD002, is planned to complete at approximately 700 metres.As previously reported the level of silica – sericite alteration increased strongly below 340m down hole and a corresponding increase in molybdenite mineralisation is also clear. Zones of strong molybdenite mineralisation are also noted in close association with later pyrite overprinting and massive pyrite veins. These pyrite veins can contain abundant molybdenite or can separate strong silica – molybdenite veins (429.9m).Dart Mining said the hole has yet to intersect the interpreted position of the concealed porphyry target, however narrow altered porphyry dykes and breccia zones showing altered porphyry fragments, high temperature alteration minerals and fragments of molybdenite mineralised vein silica are all present below 340m and indicate a further porphyry body may exist below the current hole position.The lower portion of the hole will continue to test for the location of the concealed porphyry and associated mineralisation. The hole will also test the depth projection of the western ring of the multi-metal soil anomaly and will provide further alteration data to assist in refining the geological model of the Morgan Porphyry.
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EnviroGold places 18.75m shares with Indonesian company: EnviroGold (ASX: EVG) has advised it has placed 18.75 million shares with PT Asia Pacific Mineral Resources (AsMin) at 8 cents each to raise $1.5 million. AsMin, which is part of an Indonesian coal mining and trading group, is an existing shareholder which together with its principle now holds a total of 33,616,666 shares in the Company (approximately 9.1%).
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Blackswan retains 'buy' stance on Discovery Metals after Boseto copper project exploration results: Blackswan Equities retailed in 'buy' recommendation for Discovery Metals (AIM: DME, ASX: DML) and target price of A$0.90 per share after the Botswana operating nickel and copper miner last week reported on the results from 26 exploration drill holes at the Boseto mine, which Blackswan said demonstrated “significant potential to add existing resources and extend Boseto’s mine life".Discovery has recently completed a programme of wide-spaced step-out drilling along strike from the current resources and the results confirmed that mineralisation continues over the entire strike length drilled to date.While leaving the target price unchanged, the broker increased its valuation of Discovery’s exploration to A$50 million based on a risk weighted evaluation of a second Boseto-sized hub following positive results form recent step-out drilling, which demonstrated significant potential for a resource increase. At the same time, Blackswan said the exploration success was needed to justify the company’s rising value as the exploration upside offered by its landholding in Botswana remained underrated by investors. The report stated that the landholding in Botswana could support more Boseto-sized operations as the company has just “scratched the surface” of the 1,300 km (kilometre) long prospective strike length along the Kalahari copper belt.Drilling has shown that the Plutus-Petra mineralisation extends 15 km (kilometres) to the northeast beyond the current 11 km (kilometre) strike length of the existing resource and remained open along strike with the most north-east drill hole intersecting an interval of 4 metres at 2.2% copper.The results also had little impact on the broker’s earnings estimates, which forecast Discovery to generate a free cash flow in excess of A$70 million per year once Boseto has ramped up to 25 ktpa (kilotonnes per annum) of copper concentrate in 2012.Blackswan put the net present value of Discovery at A$296.4 million, while projecting revenues of A$0.4 million, A$19.5 million and A$221.2 million in 2010, 2011 and 2012 respectively and earnings before interest and tax (EBIT) of A$4.4 million and A$120.2 million in 2011 and 2012 respectively following losses of A$5 million and A$3.7 million in 2009 and 2010.
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Westralian Gas and Power completes drilling phase one at Kaloorup Road # 2, WA: Westralian Gas and Power (ASX: WGP) has completed phase one of the drilling program for Kaloorup Road # 2 in Drilling Reservation 10, located in the south west of Western Australia. The company said electric logs have been run and appraised resulting in the determination of an accurate depth for phase two of the program which is to test the up dip location of the gaseous zone located in Busselton # 1 drilled by BHP Billiton (ASX: BHP). The equipment for the gas testing is now being assembled. The logs have shown that the sedimentary section in the new well is approximately 2.3m higher than that encountered in the Busselton # 1 well some 40 metres to the south. This information confirms the Company’s seismic interpretation of the prospect that the sediments are shallowing to the north.
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Rox Resources shares rise on 18.5% increase in Myrtle zinc-lead resource tonnes: Rox Resources (ASX: RXL) has announced a revised resource estimate based on results from recent drilling at its Myrtle zinc-lead project 20km south of the McArthur River mine in the Northern Territory.The revised resource contains 13% in the Indicated category and represents an 18.5% increase in tonnes and 14.7% increase in contained metal over the previous estimate.The resource is still open to the north and west and at a lower cut-off of 3% Zn + Pb is: 43.6 million tonnes @ 4.09% Zn, 0.95% Pb, for 5.03% Zn + Pb.Commenting on the new resource estimate, Managing Director, Ian Mulholland said, “this is significant resource on both Australian and worldwide scales.""Geological interpretation of our recent and historic drilling, together with a detailed comparison with the nearby world class McArthur River deposit would suggest that we are only drilling on the periphery of the main mineralised system at Myrtle." he added. "This interpretation has allowed us to develop a robust and convincing exploration model and targets for higher grades to the north-west of our current drilling."The resource contains 2,193,000 tonnes combined insitu zinc and lead metal, comprising 1,780,000 tonnes of zinc and 412,000 tonnes of lead.At a higher cut-off of 5% Zn + Pb the resource is: 15.3 million tonnes @ 5.45% Zn, 1.40% Pb, for 6.84% Zn + Pb.Rox Resources shares rose 17% to 2 cents in trading today.
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Proactive Investors United Kingdom
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16/03/10
HB Markets Daily Smallcap Newsflash including GB Group, Mirada, Stellar Diamonds, TEG Group and others
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16/03/10
EnviroGold assay results indicate high grade gold at Azuay project in Ecuador
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16/03/10
Syntopix set to raise £2 mln in placing to fund business development
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16/03/10
EnviroGold assay results indicate high grade gold at Azuay project in Ecuador
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15/03/10
Fluid Music Canada plans listing on AIM
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15/03/10
Dart Mining encouraged by intersection of strong molybdenite at Morgan Porphyry, Vic
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15/03/10
EnviroGold places 18.75m shares with Indonesian company
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15/03/10
Blackswan retains 'buy' stance on Discovery Metals after Boseto copper project exploration results
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15/03/10
Westralian Gas and Power completes drilling phase one at Kaloorup Road # 2, WA
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15/03/10
Rox Resources shares rise on 18.5% increase in Myrtle zinc-lead resource tonnes
RSS - Subscribe to the NewsEditorial news ▼
Proactive Investors Australia
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15/03/10
Blackswan retains 'buy' stance on Discovery Metals after Boseto copper project exploration results
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15/03/10
Dart Mining encouraged by intersection of strong molybdenite at Morgan Porphyry, Vic
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15/03/10
EnviroGold places 18.75m shares with Indonesian company
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15/03/10
Westralian Gas and Power completes drilling phase one at Kaloorup Road # 2, WA
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15/03/10
Minerals Corporation shares rise on low carbon cement production plans in China
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15/03/10
Rox Resources shares rise on 18.5% increase in Myrtle zinc-lead resource tonnes
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15/03/10
Crusader Resources' historical Borborema data a “gold mine” of new information
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15/03/10
Mintails upgrades West Rand JORC gold resource in South Africa
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15/03/10
Hemisphere Resources shares surge on plans to spin-off WA gold assets
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15/03/10
TNG nails 54% increase in resources at Sandy Creek