As a follow up to its January 14, 2010 press release, Avanti Mining Inc. (TSX-V: AVT) has closed the purchase of a 100% interest in 102 mineral tenures adjacent to its Kitsault molybdenum property in northern British Columbia from TA Mineral Resources Ltd. and Quadra Coastal Resources Ltd. These tenures triple the acreage controlled by Avanti and allow for future exploration.
Patience is a virtue! Good news comes to those who wait! Well, you get the message. Prior to today, ECU Silver Mining Inc. (TSX: ECU) last reported results from October, which seems like a long time ago. In fairness, the Company was prohibited from releasing November and December results while awaiting receipt from the securities regulatory authorities with respect to its final prospectus.
The long awaited results do not disappoint. In November, the Company’s operations yielded a combined 74,766 silver equivalent ounces. At $17 an ounce silver, this represents approximately $1.3 million. In December, the Company’s operations yielded a combined 67,914 silver equivalent ounces, which at $17 an ounce silver, represents almost $1.2 million.
More importantly, results for January 2010 month to date are “close” to the above reported number of ounces reported by the Company for November and December combined. That’s right, combined. Math isn’t my strong suit, but according to my calculations January should be around 140,000 silver equivalent ounces or approximately $2.5 million.
But wait, there’s still more! According to Stephen Altmann, President of ECU Silver, “Our goal in 2010 will be to focus on three priorities. First and foremost is to ensure profitable operations in order to maintain a strong balance sheet; second, complete our Scoping Study; and third, resume exploration activities, with internally generated cash, to further enhance our mineral resource and delineate the rich massive sulphide discovery.”
Silver Dragon Resources (OTCBB: SDRG) continues to advance operations in China. Since receiving the prestigious Prospector/Explorer of the Year Award for its Dadi Silver Polymetallic Project at the China Mining Congress & Expo 2009 back in October, the Company (i) announced massive intercepts at Dadi of 915 g/t silver, 7.6% lead, and 9.1% zinc across more than 15 meters; (ii) raised $1 million; and (iii) sold 2 properties in China for gross proceeds of $4.2 million. Keep in mind that Dadi is one of six Chinese properties for which Sino-Top holds the exploration and development rights and Sino-Top is 40% owned by Silver Dragon.
And by the way, that doesn’t include receipt of the business license for the exploration and development of deposits of copper, lead, zinc, silver, gold and associated metals, as well as the sale of such developed products, which the Company announced today and which is valid until the year 2023.
And as if that is not enough, take a look at the last several press releases, particularly at the comments from management. Unless we’re reading too much into it, and I don’t believe we are, the Company is close to completing its initial resource estimate with respect to one of its flagship properties, Dadi. It is impossible to guess the results of that report, but anything in the 15 to 20 million silver equivalent ounce range would be terrific, 40% of which can be attributed to Silver Dragon. Assuming it comes in at the high-end of that range, 20 million, 40% of which is 8 million, in combination with Company’s resource estimate in Mexico, which is approximately 25 million silver equivalent ounces, the Company would have a total of 33 million silver equivalent ounces. With 90 million shares out, at $0.30 per share, Silver Dragon has a market cap of around $27 million. Divide that by its silver equivalent ounces ($27 million / 33 million silver equivalent ounces), the result is that the Company would be trading for $0.82 per in ground silver equivalent ounce. That seems cheap compared to its peers and with silver above $16 per ounce.
Mike Rabe, a biotech research analyst, discusses Biomoda, Inc. (OTCBB: BMOD). Mike describes Biomoda as a largely undiscovered cancer diagnostics biotech company that he believes will soundly beat the market in 2010. Below please find Mike’s complete analysis.
Biomoda is an Albuquerque, New Mexico-based cancer diagnostics company. Their mission is to save lives by making the early diagnosis of the deadliest cancers available at an affordable cost to large populations worldwide.
The company’s early cancer detection assay came from a spin-off of the Los Alamos National Labs through a licensing and cooperative development agreement. The company then licensed the the original patents and now has their own patent portfolio which they plan to expand into early detection assays for multiple cancer detection applications.
“It may fluctuate, (but) to us and I think to our investors, the key criteria should be that it’s got a secular tendency now to move up year in and year out, Peter Munk told Reuters Insider television from the World Economic Forum in Davos.
“While it may trade off in the two-week or three-month period, I think the trend is here to stay.”
There are over 1,000 companies of various market capitalizations trading on the Canadian and/or U.S. stock exchanges that are involved in some aspect of commodities be it in mining, drilling, agriculture, exploring, developing or financing. That being said there are only about 100 companies that have warrants that trade and only 35 have warrants that are of 24 months duration or longer.
Of the 35 companies, Geovic Mining Corp. (OTCBB: GVCM; TSX: GMC) is one of ten base metals constituent companies included and ECU Silver Mining Inc. (TSX: ECU) is one of 20 gold and silver constituent companies.
VANCOUVER–(BUSINESS WIRE)–Dejour Enterprises Ltd. (NYSE-AMEX: DEJ / TSX: DEJ) today announces that the expansion of compression facilities at its 75% owned Woodrush project in the Peace River Arch, NE British Columbia has been completed and is expected to result in increased gross production for the project of approximately 1,200 MCF per day (200 BOE per day) when reconnected to the Spectra pipeline by month end. Operational enhancements, combined with better terms for transportation and sales, is expected to increase overall gross production for the project to approximately 650 BOE per day with netbacks per barrel of oil equivalent targeted to improve by an estimated 15 percent.
NEW DELHI, Jan 27 (Reuters) – India has imported 35-40 tonnes of gold during January 1-27, up from 9.8 tonnes in the whole of the same month last year, the head of a trade body and bank dealers said on Wednesday.
Softer prices and the end of a mid January period in the Hindu calendar deemed inauspicious for ceremonies spurred demand, said Suresh Hundia, president of the Bombay Bullion Association.
NEW YORK (TheStreet) — Gold prices were volatile Wednesday on fears about China’s lending policies.
A stronger dollar makes dollar based commodities more expensive to buy in other currencies, which results in weaker investment demand and lower prices. However, in general investors are shying away from riskier assets on fears that China will restrict lending. On Tuesday, Chinese banks were required to raise their reserve ratio by 50 basis points igniting fears that the country would curb lending even further.
Also weighing on investors’ risk appetite are worries over Ben Bernanke’s nomination approval as well as President Obama’s so-called war on banks. Investors will look to the Federal Reserve’s interest rate decision due out this afternoon. Although rates are expected to remain unchanged, investors will look for clues for a sooner than expected interest rate hike.
RENO, NV – Scotiabank economist Patricia Mohr estimated Tuesday that US$60 billion flowed into commodity related investments last year-boosting global commodity assets under management to about US$235 billion in 2009, compared to only US$6-10 billion in 2008.
Although China has begun to tighten their monetary policy, Mohr found base metals prices eased back late this month, but “continue to hold their ground fairly well.”
Fund and speculative interest in base metals has been driven by the China and emerging Asia story, she noted. Of the 32 commodities covered in the Scotiabank Commodity Price Index, Mohr said lead was the strongest performing commodity last year. “Strong battery demand for E-Bikes in China (electrically driven bicycles) contributed substantially to this stellar performance,” she noted.