LifeTech Capital Initiates Coverage of Biomoda with a Price Target of $1.00

April 30, 2010

In a report dated April 30, 2010, LifeTech Capital initiated coverage of Biomoda, Inc. (OTCBB: BMOD) with a price target of $1.00  per share.  Highlights from the report include:

Biomoda is on track to complete its CyPath Phase II pilot study for the early detection of lung cancer this quarter.  The primary endpoint is to discover 6 to 10 asymptomatic patients in the first cohort which was met with just over 130 patients.  They are collecting additional positive control data for another 44 patients which is expected to be completed in June.

Successful results of the Phase II pilot trial in Q2 should pave the way for the initiation of a Pivotal Phase III by year-end.  In addition, the Phase II results may be sufficient to receive a CE Mark in Europe by year-end with a European launch early next year.

Complete Analyst Report


Advanced Explorations to Raise Up to $3.74 Million

April 30, 2010

Advanced Explorations (TSX-V: AXI) will raise up to $3.74 million in a private placement of up to 17 million units at a price of $0.22 per unit.  Each unit will consist of 1 common share and 1 common share purchase warrant with an exercise price of $0.40 and a one year term. 

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Mickey Fulp: Goldgroup Mining, An Undervalued Advanced Explorers

April 30, 2010

In a recent interview of Mickey Fulp by the The Gold Report, Mickey discussed Goldgroup Mining, a portfolio company of ours which is completing a reverse takeover with Sierra Minerals (TSX: SIM).  Mickey had good things to say about each company individually and moreso collectively. 

Mickey Fulp: A company that I am a founding shareholder of is Sierra Minerals Inc. (TSX:SIM), which recently announced a reverse takeover (RTO) with privately held Gold Group Mining. Sierra is now a company that can build a mid-tier Mexican mining company. The current producing mine is Cerro Colorado. It just announced record quarterly production of about 6,400 ounces, projecting around 25,000-plus ounces of production this year. The company is now debt free and will be merging fairly soon with Gold Group Mining. They have the Cerro Colorado mine in production and have a high-grade underground resource at San Jose De Gracia in Sinaloa. They also have a 43-101 qualified resource at the El Porvenir high sulfidation play in Central Mexico. However, the real flagship property is going to be Caballo Blanco, another high-sulfidation gold system in Veracruz province that is a joint venture with Almaden Minerals Co. (NYSE:AAU;TSX:AMM). There is a resource and untested targets on that. I’m bullish on the Sierra Minerals and Gold Group Mining combination.

The Gold Report: Would you give us more information on Gold Group Mining?

MF: Gold Group Mining has some of the same management team that has been running Sierra Minerals. Gold Group has raised a significant amount of money in its private history and advanced two projects: San Jose De Gracia and El Porvenir. They did a deal with Lundin Mining Corp. (TSX:LUN) in the late fall for Caballo Blanco, which has significant upside potential for adding ounces. For a period of time, Gold Group Mining has been trying to put together the proper vehicle with which to go public and Sierra Minerals fits right into that. You’re basically rolling two companies that have some common interests and management, as well as shareholders, into a single entity. The new company will be called Gold Group Mining.

TGR: The currently public Sierra Minerals is acquiring Gold Group Mining and is switching to the Gold Group Mining name?

MF: It’s a reverse takeover. Gold Group Mining is basically acquiring Sierra Minerals as its public vehicle. Sierra is a small Mexican mining company, and now with this merger we can foresee the creation of a mid-tier mining company.

TGR: So has this reverse merger been priced into the stock?

MF: Yes, it has. There will be a rollback of Sierra Minerals on a per-share basis. With the pre-IPO financing of Gold Group Mining, the company will come out of the chute fairly valued for both groups of shareholders. With respect to the upside in the immediate term, I don’t really know what speculators may or may not do. But certainly you can play the new entity as a small producer growing into a mid-tier Mexican mining company.

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Criminal Probe Looks into Goldman Trading

April 30, 2010

Federal prosecutors are conducting a criminal investigation into whether Goldman Sachs Group Inc. or its employees committed securities fraud in connection with its mortgage trading, people familiar with the probe say.

The investigation from the Manhattan U.S. Attorney’s Office, which is at a preliminary stage, stemmed from a referral from the Securities and Exchange Commission, these people say. The SEC recently filed civil securities-fraud charges against the big Wall Street firm and a trader in its mortgage group. Goldman and the trader say they have done nothing wrong and are fighting the civil charges.

Prosecutors haven’t determined whether they will bring charges in the case, say the people familiar with the matter. Many criminal investigations are launched that never result in any charges.

The criminal probe raises the stakes for Goldman, Wall Street’s most powerful firm. The investigation is centered on different evidence than the SEC’s civil case, the people say. It couldn’t be determined which Goldman deals are being scrutinized in the criminal investigation.

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Moore Capital, Morgan Stanley, UBS Settle CFTC Cases

April 30, 2010

April 30 (Bloomberg) — Moore Capital Management LP, Morgan Stanley and UBS AG’s securities division agreed to pay more than $39 million to settle separate allegations regarding trading on the New York Mercantile Exchange.

Moore Capital, the $15 billion hedge fund run by Louis Bacon, will pay $25 million to settle the U.S. Commodity Futures Trading Commission’s allegation that a former portfolio manager attempted to manipulate platinum and palladium futures during a surge in prices two years ago, the regulator said yesterday.

Morgan Stanley will pay $14 million and UBS $200,000 for a separate allegation that they concealed a block trade of crude oil from Nymex, the CFTC said in a separate statement yesterday.

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eResearch Maintains $0.60 Price Target for Advanced Explorations

April 27, 2010

As a follow up to recently released news from Advanced Explorations Inc. (TSX-V: AXI), eResearch believes the Company is poised to benefit from long-term growth in the steel industry, and as a result, eResearch maintains its 12-month price target of $0.60 per share.

Advanced Explorations has made significant progress on its key objectives, particularly the completion of the baseline environmental study which is critical to completing the feasibility plan.  We look for continued execution of the Company’s business plan going forward resulting in a further increase in shareholder value.

eResearch Report


Shareholders Overwhelmingly Approve Business Combination of Sierra Minerals and Goldgroup Resources

April 27, 2010

In a joint news release, Sierra Minerals Inc. (TSX: SIM) and Goldgroup Resources Inc., a privately-held British Columbia company, announced that all resolutions with respect to their previously announced business combination were overwhelmingly supported by votes cast by shareholders of both companies. 

Under the Arrangement, Goldgroup shareholders will receive one post-consolidation common share of Sierra (being common shares of Sierra consolidated on a 2.85:1 basis) for each common share of Goldgroup held, as more particularly described in the joint management information circular of Sierra and Goldgroup dated March 25, 2010.  The Arrangement remains subject to the approval of the British Columbia Supreme Court. A hearing on the Arrangement will be held on April 28, 2010 for the Final Order approving the Arrangement. Closing of the transaction is anticipated to occur on or about April 30, 2010. 

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