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WOLV is getting ready to take off. Assay results will be out in 2- weeks and rumor has it the cores look very very good
WOLV is another stock that has explosive potential. Located along the new Labrador Highway about 75 miles from a deep water port as well as a Vale processing plant several large copper anomalies. Grab samples have contained up to 6% copper (a phenomenal amount) and not insignificant gold amounts. Drilling on the first large anomaly is scheduled to start soon and with good results that could rocket into dollar land. Currently 5-6 cents. About 106 million O/S.
SRSR may very well become this summer's star penny stock play. They reputably have billions of dollars worth of niobium as well as gold claims. Has been trading in the two's but appears to have formed a base in the mid 03's. About 850 million shares outstanding. Third generation miner who knows what he's doing unlike many that jump in without a clue because PMs are hot right now. This could easily have a KATX like run and wouldn't surprise me with mom could get up to 50 cents. Have some but looking to accumulate on any dips.
I am looking at Royal Mines and Minerals RYMM. They are supposed to have a proprietary extraction method for PMs that increases recovery rates at reduced costs and are testing material from a small Mexican claim they have. Also a lot of insider buying lately. Anyone that has any other info on this company post it here. Been very quiet trading there lately.
SRSR looks to be on the verge of a breakout. rumor of much going on behind the scenes. Had a solid week closing near the highs. IMO has very little downside with a huge upside between a 5 to 30 bagger potential.
Anyone have any thoughts on WSRA? Ilooked at it a few months ago but it just kind of laid there and I never got my bid filled. Seems to be a lot of buzz there now.
There was a major sell off of UPCO today going down to .065 before rebounding to .08. I can find no reason. Possibly people getting tax money. Or maybe some restricted shares coming on the market. This would still seem like a solid play in a hot market. I'll be looking to add on any dips.
Universal Potash News UPCO
http://ih.advfn.com/p.php?pid=nmona&article=47039423&symbol=UPCO
Pacific Gold News PCFG
http://ih.advfn.com/p.php?pid=nmona&article=47046143&symbol=PCFG
SOCU had a strange day today. Range was 0041 to 0085. There is a possible short squeeze in play here. News on the Kentucky wells will have this take off.
SRWY has shown signs of life the past couple of days. Very low float. Gold play
OTGI +25.7%
OTGI News Out!
Oteegee Innovations Announces Spring Exploration Plans
Oteegee Innovations (OTCBB:OTGI)
Today : Thursday 24 February 2011
Oteegee Innovations Inc.'s (OTCBB:OTGI) wholly owned subsidiary, Tucana Exploration, wishes to announce the Company's plans for its upcoming spring exploration program. The Company's main exploration focus in 2011 will be the recently acquired Abigail Property located in the James Bay, Quebec region of Canada. The property is made up of 222 map-designated cells totaling 11,844 hectares (47.3 square miles) within and adjacent to Nemaska Exploration's Whabouchi Lithium discovery. The principal exploration target for the property is lithium-bearing spodumene and the Abigail Property is on strike with the high-grade spodumene-bearing pegmatite located on the Whabouchi property. In addition, the property is easily accessible with roads, electrical power, and cell phone service throughout the region.
The Company is currently planning and strategizing its exploration program for this coming season. The program will commence with heliborne magnetic and electromagnetic (EM) surveys followed by prospecting, mapping, and a sampling and stripping program on the most promising targets.
Nemaska's Whabouchi deposit has been confirmed as a world-class lithium deposit ranked #1 in Canada and has already confirmed 99.96% battery-grade lithium carbonate. Nemaska recently announced wide high-grade channel samples from Whabouchi with 2.05% Li2O at 35.3m, 1.73% Li2O at 39m, 1.63% Li2O at 38m and 1.58% Li2O at 43.1m. In addition, Nemaska's 43-101 compliant Preliminary Economic Assessment contemplates an open pit-mining scenario that would produce 202,000 tonnes of 6% Li2O spodumene concentrate per year. Based on the results, the Whabouchi deposit may be economically viable and justifies Nemaska to proceed with a pilot plant and a full feasibility study, and confirms the spodumene concentrate can be economically produced and shipped to end users.
The Company also wishes to announce that the selling group of the Abigail property has agreed to convert their first payment of $100,000 which is due February 28, 2011 into common shares of the Company's capital stock. Jordan Starkman commented, "We believe that this is a strong sign of the group's belief in the fundamentals of our project and is seen as a strong commitment to our Company as long-term shareholders."
Mr. Starkman also stated, "We are excited about the prospects of the Abigail property and are eager to commence our exploration of the property. We know we are situated in a Province that supports and encourages exploration, and in a region that is known to have had major discoveries."
Certain statements in this document that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may be identified by the use of words such as "anticipate, "believe," "expect," "future," "may," "will," "would," "should," "plan," "projected," "intend," and similar expressions. Such forward-looking statements, involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Oteegee Innovations to be materially different from those expressed or implied by such forward-looking statements. The Company's future operating results are dependent upon many factors, including but not limited to: (i) the Company's ability to obtain sufficient capital or a strategic business arrangement to fund its current operational or expansion plans; (ii) the Company's ability to build and maintain the management and human resources and infrastructure necessary to support the anticipated growth of its business; (iii) competitive factors and developments beyond the Company's control; and (iv) other risk factors discussed in the Company's periodic filings with the Securities and Exchange Commission, which are available for review at www.sec.gov under "Search for Company Filings.
The Oteegee Innovations, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=7579
CONTACT: Foothills Group.
408-693-0404
www.oteegeeinnovations.com
www.tucanaexploration.com
UPCO news out. Making new highs.
http://ih.advfn.com/p.php?pid=nmona&article=46563390&symbol=UPCO
WOLV some big news. Results from IP. Been trading flat but the IP indicates we may have a huge copper system here. Not too late to get on board.
Wolverine Exploration Announces Results of IP Survey at Cache River
Wolverine Expl (OTCBB:WOLV)
Intraday Stock Chart
Today : Thursday 17 February 2011
Wolverine Exploration Inc. ("Wolverine") (OTCBB: WOLV)(OTCQB: WOLV) is pleased to announce an update to the ongoing exploration program on its Cache River copper-gold property in Labrador.
The final report on the recently completed induced polarization (IP) survey by Abitibi Geophysics has been received and reviewed by Wolverine. The report outlines a number of chargeability anomalies that require follow-up by prospecting and drilling. Some additional IP work is suggested to further outline newly detected targets that are open along strike and extend beyond the survey grids.
The Abitibi report outlines a chargeability anomaly (CR1-01) on Grid One that is located adjacent to an airborne electromagnetic (EM) conductor that was detected from a 2007 AeroTEM survey and is located close to previous drillhole DDC04-10. Further prospecting will be undertaken to establish the strike extent and composition of this combined EM-IP target. The CR1-01 anomaly extends from Line 68,800E to 70,600 on Grid One for a strike length of 1.8 km and is present on 13 of 19 survey lines. A second target CR1-05 is located approximately 650 m north of CR1-01 and extends for a strike length of 1 km as an anomalous chargeability response continuous on 10 of 11 survey lines. CR1-05 is a Priority One target. A third target CR1-06 is located about 150 m south of CR1-05 and extends for a strike length of 1.5 km, also a Priority One target.
On Grid Two are located several chargeability anomalies with high associated resistivity that is more suggestive of bedrock sulphide conductors than overburden. These targets are generally shallow (within 10 - 15 m of surface) and could be targeted by shallow drilling. Anomalies CR2-06 and CR2-07, for example, have strike extents of 1.3 km and 1.0 km respectively and are both Priority One targets. Both anomalies are open to the southwest and extend beyond the survey grid.
Also on Grid Two are a series of chargeability anomalies (CR2-01, CR2-02 and CR2-03) that are located in close proximity to previously discovered malachite showings in rock cuts along the Trans Labrador Highway. These three anomalies could represent copper-carrying sulphide mineralization that has leached out the malachite. These anomalies are all open to the northeast ad have strike lengths ranging from 325 m to 900 m.
The Abitibi report recommends a total of 11 drillholes (or 600 m of drilling) to test the best targets with additional trenching and more IP surveying to fully delineate IP anomalies that remain open along strike or are still unexplained. Ground-checking is recommended prior to drilling to ensure the proposed drill collars can be accessed.
Commenting on the report, Wolverine President & CEO Lee Costerd commented, "The report has identified specific areas that can be directly targeted by drilling. These targets could represent disseminated sulphide carrying copper and gold. This is our target at Cache River and we intend to follow-up with a drill program to test all the targets that have been identified from this survey."
Wolverine is currently negotiating the drill contract and will plan to test the IP targets as early as March 2011.
On behalf of the Board
Lee Costerd, President
Notice Regarding Forward-Looking Statements
This news release contains "forward-looking statements", as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future, including but not limited to, statements regarding the results of the IP survey and future drilling, prospecting and geophysics.
Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with mineral exploration and difficulties associated with obtaining financing on acceptable terms. We are not in control of metals prices and these could vary to make development uneconomic. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our most recent annual report for our last fiscal year, our quarterly reports, and other periodic reports filed from time-to-time with the Securities and Exchange Commission
UPCO big news out! Up in trading challenging recent highs.
Universal Potash Corp Acquires Interest in Three Square Miles Adjacent to Lisbon Valley Paradox Basin KPLA
Universal Potash (USOTC:UPCO)
Intraday Stock Chart
Today : Thursday 17 February 2011
Universal Potash Corporation (the "Company") (PINKSHEETS: UPCO) is pleased to announce the company has negotiated the acquisition to a majority interest in the potash rights to three square miles of prospective ground in the Paradox Basin of Utah. The leased property is located less the 1,000 yards west of the Bureau of Land Management's designated KPLA (Known Potash Leasing Area) reserve. The UPCO acquisition encompasses nearly 2,000 acres of the School and Institutional Trust Lands Administration (SITLA) tracts of subsurface potassium rights. Direct access and infrastructure is immediately contiguous to the acquired project area. This includes a pool of professional labor, a major highway, natural gas pipeline and close proximity of a major power source. Improved roads crisscross the leases. The company has in its possession oil and gas well data displaying sections of salts nearly 3,000 feet thick containing multiple potassium (Potash) beds within the Paradox salts.
This purchase fits well with our earlier successful acquisition in which we were the winning bidder on Utah Potash Lease Applications for a total of 640 acres of prospective ground northwest of Moab in the Paradox Basin of Utah. These leased properties are located immediately to the South and contiguous to the company's current Potash applications pending approval, covering a total of 29,000 acres. The two new properties are immediately west and adjacent to School Sections that have seen previous drilling for oil/gas and encountered significant intersections of both Sylvite and Carnallite, with Sylvite (Potash) values averaging near 20%, but ranging as high 49%.
World and domestic food shortages have potash fertiliser prices moving higher. The current demand for the product is driven by increased production to meet the growing world demand and the necessity to offset the grain shortages in the world due to climate change and the world's middle class population growth. Grain demand has resulted in an 8 fold increase to satisfy the population's demand for more protein products worldwide. Potash price increases have sent the share prices of many potash producers as well as explorers higher in recent months supported by BHP Billiton's recent $39 billion hostile takeover bid for Potash Corporation of Saskatchewan, the world's largest producer.
About Universal Potash Corp.
Universal Potash Corp. is an acquisition driven exploration stage potash mining corporation dedicated to increasing shareholder value. The Management of Universal Potash's principal focus is the acquisition of premium leasehold properties and the future development of these properties and business interest on a global basis. Management efforts are channeled into building Universal Potash Corp into an international enterprise and becoming a key player in meeting the growing challenge of feeding the world.
"Safe Harbor" Statement: Under the Private Securities Litigation Reform Act of 1995: The statements in all press releases that relate to the company's expectations, with regard to the future impact on the company's results from new projects in development, are forward-looking statements. A complete disclosure of our "SAFE HARBOR "statement is posted on our website at www.UniversalPotash.com under the heading "NEWS."
Contact:
For Additional Information Please Call
Investor Relations
Toll Free 1-877-331-8777
Nature's Call Samples High Grade Silver at Los Amoles, Including 1,027.5 g/t
Natures Call Brands (OTCBB:NATC)
Intraday Stock Chart
Today : Tuesday 15 February 2011
Nature’s Call Brands Inc. (“Nature’s Call” or the “Company”) (OTCBB:NATC) is pleased to report that the initial field program at the Los Amoles property located in Sonora State, Mexico, has yielded high grade silver results. Highlight results from the program include the following:
Sample Location Type Width(m) Au(g/t) Ag(g/t) Pb(%)
49584 Working 13 Dump N/D 0.53 304.6 0.42
49581 Fault in Channel 1.0 0.33 496.8 1.31
drainage
49579 Workings Dump N/D 0.24 1027.5 2.30
8, 9 and 10
49567 Working 6 Channel 2.00 0.63 698.6 0.24
49559 Working 4 Dump N/D 0.10 197.2 3.23
49558 Working 4 Channel 2.00 0.63 497.3 0.17
49556-8 Working 4 Channel 6.00 0.33 226.6 0.06
The assay results of this initial work program further improve on those obtained previously with the highest silver assay grading at 1,027.5 g/t. A total of 30 samples were taken with 17 of those returning values greater than 1oz/t of silver. Samples from Los Amoles were prepared and analyzed by IPL Inspectorate in their facilities in Mexico and Vancouver, respectively. Samples generally consisted of 1-3 kg of material. Gold and silver analyses were performed by 30 gram fire assay with an AA finish. Samples with greater than 100 g/t silver were re-assayed using gravimetric methods.
This latest field program was designed to prospect, map and sample the southern portion of the 1.0 by 2.5 kilometre main target area (see news release dated December 8, 2010). This work was successful in identifying an additional 20+ historic workings and exploration personnel successfully traced mineralization on the surface for approximately 800 metres along strike. Sampling at irregular intervals along the strike length has returned gold and silver values.
In addition to strong values within the veins, sampling has shown that proximal to the veins the host andesitic volcanic rocks often host silver mineralization in the order of 15 to 50 grams per tonne.
To date, more than 45 historic workings and greater than 20 gold/silver veins have been identified within approximately 60% of the El Rosario target area. Another stage of fieldwork is planned in order to map and sample the remaining areas within the El Rosario target. This work will be done in advance of geophysics, which in turn, will be done to delineate priority locations for drilling.
"We are very pleased that such a large percentage of samples taken yielded significant silver values, suggesting the project has exciting silver potential," commented Juan Miguel Rios Gutierrez, President and CEO of Nature’s Call. "The program focused on locating, measuring and sampling of historical workings and geological mapping of the property. The assay results will be incorporated into the existing data set to define the next steps to be carried out on the property," added Mr. Gutierrez.
About the Los Amoles Property:
The early stage 16.3 square kilometre Los Amoles Property is located approximately 150 kilometres northeast of the Hermosillo, Sonora State, Mexico. The property is 10 kilometres northeast of the La Caridad Mine, operated by Grupo Mexico, which is one of the largest mining and processing complexes in Mexico.
Work performed to date has concentrated on an area (the Rosales area) that is on the eastern edge of a 4.0 by 2.75 km regional magnetic anomaly. The Company’s interpretation is that the Rosales area represents silver-lead +/- gold veins that are distal to a porphyry system. The potential for this regional anomaly to reflect a buried porphyry has yet to be tested. Many of Sonora’s most significant porphyry deposits are located within 70 km of the Los Amoles property.
About Nature’s Call Brands Inc.
Nature’s Call is based in Las Vegas, Nevada and trades on the OTC Bulletin Board under the trading symbol “NATC”. The Company is focused on the acquisition and exploration of international gold and silver mining properties located in regions that enjoy stable politics, sound economies and friendly business environments. Additional information about the Company may be found at www.naturescall.com
Forward Looking Statements
Statements in this news release that are not historical are forward looking statements. Forward looking statements in this news release include: that the company believes that data received to date makes for exciting silver potential for the project; that the property is interpreted to be within a porphyry system; and that Mexico is stable and business friendly. Factors which may delay or prevent these forward-looking statements from being realized include misinterpretation of data; we may not locate or agree to terms with potential partners, we may not be able to get equipment or labor as we need it; we may not be able to raise sufficient funds to complete our intended exploration or carry on operations; that weather, logistical problems or hazards may prevent us from exploration; that equipment may not work as well as expected; that analysis of data may not be possible accurately and at depth; and that despite encouraging data there may be no commercially exploitable mineralization on our properties. Nearby mineral resources is no indication of resources on our property. In addition, Mexico may undergo political or social change which would create additional geopolitical risks. Readers should refer to the risk disclosures outlined in the periodic reports filed by other junior mineral exploration companies with the Securities and Exchange Commission.
PCFG news out. Chart looks like it's about to flip. This IMO is a solid pick and should be producing gold soon. I own free shares and expect this to go 15-20 cents.
http://ih.advfn.com/p.php?pid=nmona&article=46443904&symbol=PCFG
CHART
SGCP is now trading back in the .00teens. Might be worth a look getting back in to. Supposed to start dredging soon.
SNEY is back to the 006's down from .016 and may be building a base here. Another African mining play.
SRSR is a rare earth/nobium JM in Canada. Been testing 3 cents lately and I like a lot long term.
SOCU NEWS
Standard Oil Company Signs Letter of Intent with TXSER (Texas Strategic Energy Reserve)
http://www.earthtimes.org/articles/press/texas-strategic-energy-reserve,1626522.html
http://www.pr.com/press-release/293057
Dallas, TX, January 25, 2011 --(PR.com)-- Standard Oil USA, INC. (OTC:SOCU), announces that they have signed a LOI with TXSER for the project developmental management and completion of converting coal to liquid processing fuel plants, general project management services, and logistical support, project identified as Coal-to-Liquid (C2L).
Mr. Ronald Brooks, Standard Oil Company USA's Chairman & CEO is quoted as saying, “This is an exciting day for Standard Oil Company USA. This LOI sets in writing several months of negotiations between TXSER and Standard Oil Company USA. This LOI is the new direction that Standard Oil Company intends to focus its expertise. This is a new generation of C2L technology that has shown an increase in production of refined fuel per ton of coal over existing similar technologies. In addition we are able to build smaller facilities “micro plants” that will allow us to build facilities closer to regions where the product can be utilized which addresses the logistical restrictions large scale operations have to contend with. This direction will benefit all shareholders of Standard Oil Company USA. The projects will benefit North America to reduce North America's dependency on foreign oil.”
About Standard Oil Company USA, Inc.
About Us Statement: Standard Oil Company USA (SOCU.PK) is a leading independent energy company headquartered in Dallas, Texas and focused on oil and gas drilling, lease development and trading. Standard Oil Company, Inc. through its global network of buyers and sellers, along with its staff of seasoned oil, gas, refined fuels, trading professionals, drilling crews, engineers, attorneys and CPAs, will help facilitate the ease of transaction between buyers and sellers of actual, tangible oil and gas leases refined fuels allocations. Together with this, Standard Oil Company USA continues to search to acquire new oil and gas lease properties for exploration and future development both domestically here in the USA as well as internationally.
For more information visit our website at: www.standardoilcompanyusa.com
This company is already working on drilling projects domestically and soon will begin internationally.
Picked up some SOCU last week at .02. High OS but most are restricted and the float is tight.
Also ZLUS seems to be consolidating for another run.
I have been looking at MFMM(Mayfair Mining & Minerals, Inc.) Its hard to trade shares but its near its all time low. I e-mail the person in England and said the web site should be updated this month.
Looks like they have mineral properties in Africa but I am not sure its worth buying now. Been trying to get under .02 but it hardly ever trades.
Thnaks.
Yes, good way to invest, the articles on unemployment/oil are very interesting, I have a new viewpoint now.
I can only speculate, but resource plays are something special. I am especially interested in oil plays and have put money into solid plays like http://www.tagoil.com at $2-$3 which has huge upside along with HDY at $1.09 about 4 months ago.
However I always like a gamble on sub-penny or penny stocks for that chance of a monster return on a nominal investment. I like to spread the risk so am holding about the same dollar investment in each of ZLUS, SOCU and FECOF....If one is a winner...nice...if 2 are good you get a very big return.
The editor of oil drum has a blog that is very compelling http://www.ourfiniteworld.com scroll down to her two part article on oil and unemployment....sums up our world very well.
I know it is way early, but do you think ZLUS could someday do a FECOF,suppose SOCU more likely, but it sure seems to me ZLUS is under fairly good management. I am holding a couple million shares of ZLUS.
funny stuff @ the wolv board
holding all FECOF - think we'll see much more there - i will summarize the DD over the weekend and try to contact some people.
Think I missed out on FECOF. Was too patient.
Looks like news there next week as well.
looks like we have the same taste, i'm just missing SOCU for now
Very nice triple approach is FECOF, SOCU and ZLUS. I am in them all.
FECOF is taking off. Unfortunately I fiddled around when it could be had for 2 cents.
About Standard Oil Company USA, Inc.
About Us Statement: Standard Oil Company USA (SOCU.PK) is a leading independent energy company headquartered in Dallas, Texas and focused on oil and gas drilling, lease development and trading. Standard Oil Company, Inc., through its global network of buyers and sellers, along with its staff of seasoned oil, gas, refined fuels, trading professionals, drilling crews, engineers, attorneys and CPAs, will help facilitate the ease of transaction between buyers and sellers of actual, tangible oil and gas leases refined fuels allocations. Together with this, Standard Oil Company USA continues to search to acquire new oil and gas lease properties for exploration and future development both domestically here in the USA as well as internationally.
For more information visit our website at: www.standardoilcompanyusa.com.
The company is already working on drilling projects domestically and soon will begin internationally.
Standard Oil Co. (SOCU.pk) rumors abound that the company will release industry shattering news within a week as this company moves forward and rebrands itself in a makeover from the company that was dismantled by the Gov’t in the 1960’s for being too big.
Unconfirmed rumors that current oil production and revenues will be augmented by a recently discovered technology in the industry. The compnay has been very closed about developments however the August 9/10 press release offers us a glimpse of the future
Upon completing, the purchase of these Natural Gar / Coal Bed Methane Properties, Standard Oil will quickly begin to realize revenues from them within about 60 days. We estimate these revenues to run close to $30 Million per year.
Thanks Doubloon. You da man.
Source of Info--Disclosure Statement filed on May 19 2010 Pages 3 and 5:
http://www.otcmarkets.com/otciq/ajax/showFinancialReportById.pdf?id=32247
Authorized Shares (AS) = 2,000,000,000 shares
Outstanding Shares (OS) = 972,529,454 shares
Restricted Shares = 890,053,260 shares
Float =82,476,194 shares
There is a total of 758,000,000 Restricted Shares out of the 890,053,260 Restricted Shares of the OS that are held by the Chairman/CEO of the company as a control block from the previous management of International Energy Ltd, Inc.
Not able to find a lot on it. It's non-reporting. Do you know what the SS is?
UPCO news out. Hot potash and lithium play.
http://ih.advfn.com/p.php?pid=nmona&article=45972115&symbol=UPCO
Link to financials
300 mill AS with 76 Mill AS
http://www.otcmarkets.com/otciq/ajax/showFinancialReportById.pdf?id=39956
SOCU .pk .015 Been a buyer all week, got one more fill if it dips down to it, which I doubt.
If anyone has the time to research this one they should have a productive session. Many oil and gas LOI's have been signed and they should be coming to play shortly, also keep an eye on the coal purchase, that is the wild card.
Picked up a few shares of SRWY the other day. Very low float gold play.
IBOX
http://investorshub.advfn.com/boards/board.aspx?board_id=14260
RECENT NEWS
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=56480118
TVIPF TVI Pacific (.1289) - Early stage copper producer with significant by product metals. Located in the Philippines.
Annual production of approximately 20 million pounds Copper, 10,000 ounces Gold, 500,000 ounces Silver. New Zinc circuit comes online in January 2011.
The Balabag Gold Project appears to be moving forward. Will add significant gold and silver production to an already respectable output.
"An initial starter plant would be constructed, drawing ore feed from the core area, with the plant and mine being expanded in stages from internal cash flow."
http://www.tvipacific.com/
http://tmx.quotemedia.com/quote.php?qm_symbol=TVI
http://www.otcmarkets.com/pink/quote/quote.jsp?symbol=tvipf
http://investorshub.advfn.com/boards/board.aspx?board_id=17479
TVI Pacific Inc. (.1289) and TG World Energy Corp. Announce Arrangement Agreement for the Acquisition of TG World Energy Corp. by TVI Pacific Inc.
CALGARY, ALBERTA -- (MARKET WIRE) -- 12/23/10 -- TVI Pacific Inc. ("TVI") (TSX: TVI) (OTCQX: TVIPF) and TG World Energy Inc. ("TG") (TSX VENTURE: TGE) announced today that they have entered into a definitive arrangement agreement (the "Arrangement Agreement"), under which TVI has agreed to acquire all of the outstanding common shares of TG not owned by it as of the effective date of the acquisition on the basis of 0.67 of a TVI common share for each TG common share (the "Transaction"). The Arrangement Agreement provides that the Transaction will be structured as a plan of arrangement under the Business Corporations Act (Alberta) (the "Arrangement").
In addition, TVI has agreed to purchase 29,650,000 TG common shares and invest $1,317,500 by way of a convertible promissory note to assist TG in financing its immediate obligations.
TVI's principal assets are its interest in the producing Canatuan copper-zinc mine in Mindanao, Philippines, its interest in the Balabag epithermal gold/silver deposit also in Mindanao and its interest in a broad array of prospective mining tenements in the Zamboanga Peninsula, Philippines.
TG's principal assets are its interest in an offshore oil and gas concession located in the Philippines, its interest in a joint venture covering certain oil and gas prospects located on the Alaska North Slope and its interest in a joint venture with an affiliate of China National Petroleum Corporation relating to exploration prospects in Niger, Africa.
Details of the Transaction
Upon completion of the Transaction, all TG common shares not owned by TVI at such time will be automatically exchanged on the basis of 0.67 of a TVI common share for each TG common share. The consideration to be received by TG shareholders pursuant to the Arrangement represents an approximate 48% premium over TG's 20-day volume-weighted average trading price, and an approximately 78% premium over TG's closing price as at December 22, 2010.
Upon completion of the Transaction (and after giving effect to the private placement transactions described below), TVI will have approximately 577.9 million common shares issued and outstanding, of which current TVI shareholders will own approximately 84.4 % and former TG shareholders will own approximately 15.6%.
The total value of the Transaction to TVI has been estimated at $13.5 million, consisting of a combination of cash to be invested in connection with the purchase of TG common shares and TG convertible note and the common shares of TVI to be issued upon completion of the Arrangement (with each such TVI common share having an ascribed value equal to TVI's 20 day volume weighted average trading price of $0.12).
Click here to view a Snapshot of the Transaction Details
Business Rationale for the Transaction
In authorizing the Transaction, the TVI Board of Directors determined that the acquisition of TG would allow TVI to leverage its extensive relationships in the Philippines by entering the Philippine oil and gas sector. This could provide TVI with access to a second cash flow stream that would help to offset TVI's exposure to base and precious metals commodity pricing risk.
The TVI Board of Directors believes that this Transaction will allow TVI to capitalize on broader development opportunities opening up in the Philippines.
Following completion of the Transaction, TVI is expected to:
-- have a second resource base, which will include additional assets in the
Philippines; and
-- have an attractive mix of production, development and exploration stage
resource assets.
"We believe that the Transaction represents an attractive opportunity for TVI shareholders," said Cliff James, President and CEO of TVI. "TVI has a strategic need for an acquisition to expand its cash flow sources, but high commodity prices are making advanced acquisitions in the Philippines mining sector difficult to secure. This opportunity will also allow TVI to build scale and scope through an investment in an additional resource that is expected to help mitigate the risks associated with a single commodity."
"The TVI Board of Directors views the acquisition of TG, including its assets in the Philippines, as an important addition to TVI's existing portfolio, "added Brian Cramm, the Chairman of the independent Special Committee of TVI's Board of Directors. "The combined cash flows from operations should allow TVI to pursue production from wells drilled within the offshore Philippines concession, to continue the Company's mining exploration and development activities on the North Zamboanga tenement package and to pursue other resource opportunities."
Mr. Wayne Thomson, Chairman of TG added, "the planned combination represents a unique opportunity for TG's shareholders. The Transaction will merge anticipated cash flow from the offshore Philippines wells (and possibly North Tarn, Alaska) with a corporation that will have the financial and technical capacity to move TG's oil and gas projects forward. TVI is a well-managed Canadian mining company with roots going back over 15 years. TG is pleased to be able to offer it shareholders an opportunity to become a part of this larger and stronger enterprise".
Private Placements
Subsequent to the execution and delivery of the Arrangement Agreement, TVI entered into a subscription agreement with TG (the "TVI Subscription Agreement"), which provides for TVI to purchase 29,650,000 common shares of TG, at an aggregate subscription price of $1,482,500, representing a per share sale price of $0.05. The TVI Subscription Agreement also provides for the purchase by TVI of a $1,317,500 principal amount convertible promissory note of TG (the "Note"). The TVI Subscription Agreement contemplates that the principal amount of the Note (and accrued interest) may be converted into TG common shares, at a conversion price of $0.05 per share, in certain circumstances, including: (i) the TG Board of Directors having resolved to accept an acquisition proposal from a third party that constitutes a "superior proposal" for purposes of the Arrangement Agreement; (ii) if, after conversion, the number of TG common shares held by TVI would be less than 19.5% of the total number of issued and outstanding TG common shares; (iii) if the conversion is approved by the TG shareholders; (iv) if the TG common shares are delisted from the TSX Venture Exchange; (v) if the TSX Venture Exchange provides its consent to conversion; or (vi) at any time following December 31, 2015. After giving effect to the purchase of TG common shares pursuant to the TVI Subscription Agreement, TVI will own approximately 19.5% of the total number of issued and outstanding TG common shares (not including TG common shares that may be issued upon the conversion of indebtedness owing under the Note or the 12 million TG common shares proposed to be issued to LIM Asia Special Situations Master Fund Limited in connection with the private placement transactions described below).
The TVI Subscription Agreement provides that the net proceeds from the sale of TG common shares and the Note will be used by TG to pay amounts owing, or that may become owing, in respect of the oil and gas assets of certain TG subsidiaries in the Philippines and Alaska and (to the extent of any balance) for other corporate purposes.
TVI intends to vote the 29,650,000 TG common shares referred to above in favour of the Arrangement at the special meeting of the TG shareholders, optionholders and warrantholders that is to be called and held to consider and vote upon the Arrangement (the "Meeting").
In addition, TG has entered into a subscription agreement with LIM Asia Special Situations Master Fund Limited (the "LIM Subscription Agreement"), under which LIM has agreed to purchase 12 million TG common shares, at an aggregate subscription price of $600,000, representing a per share sale price of $0.05.
The private placement transactions contemplated by the TVI Subscription Agreement and the LIM Subscription Agreement are expected to close promptly following receipt of all required regulatory approvals.
TG Board Recommendation
Negotiations concerning the Transaction were conducted on behalf of TVI by a special independent committee of the TVI Board of Directors consisting of Messrs. C. Brian Cramm and Jan Horejsi and on behalf of TG by a special independent committee of the TG Board of Directors consisting of Messrs. Wayne Thomson, Gordon Hoy, David Moscovitz and Michael Ames.
The TG Board of Directors, on the unanimous recommendation of its independent special committee, has determined that the Transaction is in the best interests of TG and the TG shareholders and has resolved to recommend that TG shareholders vote in favour of the Arrangement. Management and the directors of TG and certain other shareholders, who beneficially own or exercise control or direction over approximately 4.01% of the issued and outstanding TG common shares, and options entitling them to purchase up to an aggregate of approximately 3,950,000 TG common shares, have entered into support agreements with TVI under which such persons have agreed to vote their TG common shares in favour of the Arrangement. Two additional shareholders of the Corporation, who currently own (in the aggregate) approximately 31.39% of the outstanding TG common shares have advised TVI of their support for the Transaction and have indicated that they plan to vote their TG common shares, and any TG common share purchase warrants held by them, in favour of the Arrangement at the Meeting.
The Arrangement Agreement prohibits TG from soliciting or initiating any discussions concerning the sale of material assets or any other business combination involving TG and provides TVI with the right to match any competing proposal that TG receives from a third party. Under the terms of the Arrangement Agreement, TVI is entitled to receive a $500,000 termination fee from TG in certain circumstances. Additional details relating to the Arrangement Agreement will be included in the information circular to be delivered to TG shareholders, optionholders and warrantholders in connection with the Meeting. Copies of the Arrangement Agreement and certain other documents will be filed with the applicable Canadian securities regulatory authorities and will be available at Welcome to the SEDAR Web Site / Bienvenue au Site Web SEDAR.
TG'S Financial Advisor And Fairness Opinion
Jennings Capital Inc. acted as financial advisor to TG and has provided a verbal opinion to the TG Board of Directors that, as of December 21, 2010 and subject to the assumptions and limitations contained therein, the Transaction is fair, from a financial point of view, to TG shareholders. MacLeod Dixon LLP acted as legal counsel to the Special Committee of the TG Board of Directors and Borden Ladner Gervais LLP acted as legal counsel to the Special Committee of the TVI Board of Directors.
Closing of the Transaction and the Private Placements
Completion of the Transaction is subject to the receipt of all necessary securityholder, court and regulatory approvals (including the approval of the Toronto Stock Exchange and the TSX Venture Exchange) and the satisfaction or waiver of certain other conditions. The resolution respecting the Arrangement will require the approval of not less than 66 2/3% of the votes cast by TG shareholders, optionholders and warrantholders (voting together as a single class) at the Meeting. The Meeting is expected to be held in late February 2011. An information circular relating to the Meeting is expected to be mailed to TG shareholders, optionholders and warrantholders in January 2011 and the Transaction is expected to close by early March 2011.
Completion of the private placement transactions contemplated by the TVI Subscription Agreement and the LIM Subscription Agreement is subject to the receipt of all necessary regulatory approvals (including the approval of the TSX Venture Exchange). All securities issued pursuant to the TVI Subscription Agreement and the LIM Subscription Agreement will be subject to hold periods imposed under applicable Canadian securities laws and stock exchange rules.
About TG World Energy Corp. (TSX VENTURE: TGE)
TG World is a Calgary-based, junior international oil and gas company with exploration, development and production operations in the Philippines, Alaska and Niger.
TG World (BVI) Corp. (a wholly-owned subsidiary of TG World) is partnered with operator Nido Petroleum Ltd., Kairiki Energy Ltd. and Trafigura Ventures III BV in a joint venture for Service Contract 54A in the North West Palawan Basin of the Philippines.
TG World Energy Inc. (a wholly-owned subsidiary of TG World) is partnered with operator Brooks Range Petroleum Corp., Alaska Venture Capital Group, Brooks Range Development Corp. and Ramshorn Investments Inc. in a joint venture that is pursuing oil and gas opportunities on the Central North Slope of Alaska.
TG World Petroleum Ltd. (a wholly-owned subsidiary of TG World) is partnered with operator CNPCIT, a unit of the China National Petroleum Company, in the Tenere Block oil and gas concession in the Republic of Niger, Africa.
About TVI Pacific Inc. (TSX: TVI) (OTCQX: TVIPF)
TVI Pacific Inc. is a publicly-traded copper producer focused on the production, development, exploration and acquisition of precious and base metal mining deposits in the Philippines. The Company's interest in the Canatuan Mine and its other Philippine assets are held through its affiliate, TVI Resource Development (Phils.), Inc.
READER ADVISORY - FORWARD-LOOKING STATEMENTS
This news release contains certain forward-looking information (referred to herein as "forward-looking statements") within the meaning of applicable Canadian securities laws. Forward-looking statements are often, but not always, identified by the use of words such as "anticipate", "plan", "intend", "estimate", "expect", "may", "will", "should", or similar words suggesting future activities, circumstances or outcomes. In particular, this news release contains forward-looking statements relating to: (1) TVI's proposed acquisition of TG; (2) Transaction values and the anticipated benefits of the Transaction; (3) the anticipated outstanding share capital of TVI following the completion of the Transaction and ownership levels; (4) the closing of the Private Placement transactions contemplated by the TVI Subscription Agreement and the LIM Subscription Agreement; (5) the anticipated use of proceeds of the Private Placement transaction contemplated by the TVI Subscription Agreement; (6) the timing of certain milestones associated with the Transaction (including the timing of mailing of the information circular for the Meeting, the timing of the Meeting and the anticipated timeframe for closing of the Transaction); and (7) the receipt of all necessary securityholder, court and regulatory approvals in connection with the Transaction, including the satisfaction or waiver of certain conditions to the Arrangement and the Private Placement transactions contemplated by the TVI Subscription Agreement and the LIM Subscription Agreement.
Forward-looking statements are based upon the opinions and expectations of management of TVI as at the effective date of such statements and, in some cases, information supplied by third parties. Although TVI believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions and that information received from third parties is reliable, it can give no assurance that those expectations will prove to have been correct. Forward-looking statements are subject to certain risks and uncertainties that could cause actual events or outcomes to differ materially from those anticipated or implied by such forward-looking statements. These factors include, but are not limited to, such things as completion risks in respect of the Arrangement, changes in general economic conditions in Canada, the United States and elsewhere, changes in operating conditions (including as a result of weather patterns), the volatility of prices for oil, gas, base metals, precious metals and other commodities, commodity supply and demand, fluctuations in currency and interest rates, inherent risks associated with the exploration, development and production of oil and gas (including mechanical and environmental problems), inherent risks associated with the exploration, development and production of base and precious minerals (including mechanical and environmental problems), timing, results and costs of exploration and development activities, availability of financial resources or third-party financing, availability of equipment, materials, services and personnel, defaults by counterparties, reliance upon operators in the case of non-operated properties and projects, and new laws and regulations (domestic and foreign). Accordingly, readers should not place undue reliance upon the forward-looking statements contained in this news release and such forward-looking statements should not be interpreted or regarded as guarantees of future outcomes.
Forward-looking statements concerning the proposed acquisition of TG by TVI are based upon the terms of the Arrangement Agreement. Forward-looking statements concerning Transaction values and the anticipated benefits of the Transaction are based upon the terms of the Arrangement Agreement, the current trading prices of the TVI common shares and TG common shares, and the nature and extent of the current operations of TVI and TG in the Philippines in particular. Forward-looking statements concerning the anticipated outstanding share capital of TVI following the completion of the Transaction and ownership levels is based upon the existing outstanding share capital of TVI, the existing outstanding share capital of TG, the terms of the Arrangement Agreement, the terms of the TVI Subscription Agreement and the terms of the LIM Subscription Agreement. Forward-looking statements concerning the closing of the Private Placement transactions contemplated by the TVI Subscription Agreement and the LIM Subscription Agreement are based upon the terms of the TVI Subscription Agreement and the LIM Subscription Agreement, respectively, and advice from counsel with respect to the anticipated timing of receipt of regulatory approvals. Forward-looking statements concerning the anticipated use of proceeds of the Private Placement transaction contemplated by the TVI Subscription Agreement are based upon the terms of the TVI Subscription Agreement. Forward-looking statements concerning the timing of certain milestones associated with the Transaction (including the timing of mailing of the information circular for the Meeting, the timing of the Meeting and the anticipated timeframe for closing of the Transaction) are based upon the terms of the Arrangement Agreement and advice received from legal counsel and other advisors to TVI and TG as to the time required to complete certain tasks associated with the preparation and mailing of the foregoing information circular and the holding of the Meeting. Forward-looking statements concerning the receipt of all necessary shareholder, court and regulatory approvals in connection with the Transaction, including the satisfaction or waiver of certain conditions to the Arrangement and the Private Placement are based upon the terms of the Arrangement Agreement.
The forward-looking statements contained in this news release are made as of the date hereof and TVI does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, except as required by applicable Canadian securities laws. The forward-looking statements contained herein are expressly qualified by this cautionary statement.
The Toronto Stock Exchange has neither approved nor disapproved of the information contained herein.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
TVI Pacific Inc.
Rhonda Bennetto
Executive Director Investor Communications
403.265.4356
rhonda.bennetto@tvipacific.com
TVI Pacific Inc.
Ian McColl
Investor Relations Analyst
403.265.4356
ian.mccoll@tvipacific.com
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Source: TVI PACIFIC INC.
http://www.tvipacific.com/Investors/news/News-Release-Details/2010/TVI-Pacific-Inc-and-TG-World-Energy-Corp-Announce-Arrangement-Agreement-for-the-Acquisition-of-TG-World-Energy-Corp-by-TVI-Pa/default.aspx
ZLUs showing some real strength today considering how far she's moved. sure looks like something brewing ....
I grabbed a wad of ZLUS after making a bunch of phone calls, I like this one for a 6 month hold, should do quite well and very undervalued here if the future turns out the way the company has it planned, watch for pr's soon
dont have time to totally DD not in it.Just looked for filing's and posted the latest one
This board is dedicated to find hot and undervalued commodity picks. They can be in the metals, o and g or agriculture sectors. While MOMO plays are acceptable the stock should have at least some fundamental value to insulate against large losses. Stocks with a gazillion shares, no assets are frowned upon. Please provide at least a summary of why you think a particular stock would be a good play with perhaps a DD link. The objective is to find plays before anyone else and get in on the ground floor.
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