Trelawney Mining and Exploration Inc. said it intersected 165 metres of 1.20 g/t gold at Cote Lake on the Chester Project located halfway between Timmins and Sudbury in Northern Ontario. It also announced an updated resource of 5.9 million ounces inferred and 0.9 million ounces indicated for the Cote Lake Deposit.
Vista Gold Corp. announced additional results from drilling at the Guadalupe de los Reyes Gold-Silver Project (including results from one drill Hole in the Guadalupe Vein with 12.15 g/tonne Gold and 738 g/tonne Silver over 5.3 Meters of Vein Width).
PetroMagdalena Energy Corp. , which rose 3 per cent on Friday, provided an update today on its ongoing exploration program. CEO Luciano Biondi said: "The Llanos exploration program is continuing to build our production and reserves, the latest discovery occurring at Cernicalo in the Cubiro Block where we now have Upper Guadalupe sands on production and potential in uphole in the C7 sands. With the growing success from our exploration program we can begin to look for growth opportunities that can be funded from our expanding cash flow."
Yangarra Resources Ltd. , which is trading near year lows, provided a production update and an outline of play development. Average production for the fourth quarter of 2011 was 1,720 boe/d (49 per cent Oil and NGL's) and production for December 2011 was 2,270 boe/d. The revised volumes represent a 37 per cent increase from the third quarter of 2011 and 126 per cent increase over the fourth quarter of 2010. On a per share basis, the production increased by 55 per cent over the fourth quarter of 2010; Current production is approximately 2,100 boe/d with approximately 600 boe/d of behind pipe volumes to be placed on stream.
Cargojet Inc. announced today financial results for the fourth quarter period ended Dec. 31, 2011. Total Revenues were $42.9-million, equal to the previous year; Gross Margin was $7.1-million, a decrease of $3.2-million or 31.1 per cent versus the previous year; EBITDA was $3.2-million, a decrease of $3.5-million or 52.2 per cent versus the previous year.
Batero Gold Corp. announced today the initial National Instrument 43-101 Indicated and Inferred mineral resource estimate for the Batero-Quinchia project located in Risaralda, Colombia. The company said indicated mineral resources comprised 248.5 million tonnes grading 0.44 grams per tonne (g/t) gold, 1.54 g/t silver and 0.08 per cent copper for a total of 3.5 million ounces gold, 12.3 million ounces silver and 438 million pounds of copper. Inferred Mineral Resources comprised 242.4 million tonnes grading 0.33 g/t gold, 1.8 g/t silver and 0.06 per cent copper for a total of 2.6 million ounces gold, 14 million ounces silver and 320 million pounds of copper.
SunOpta Inc. announced that it has undertaken a process to streamline its operations and organizational structure, addressing underperforming food based operations and targeting improved earnings, predictability and return on assets. The company said it is restructuring to align its operating segments with the markets and customers serviced, rather than by product groupings.
Aquila Resources Inc. , which was just 6 cents above year lows at Friday's close, announced today the acquisition of the Five Mile Lake project located 10 kilometers southwest of Ely, Minnesota. The Five Mile Lake area hosts an altered sequence of felsic volcanic rocks with significant zinc occurrences associated with geophysical anomalies.
Denison Mines Corp. announced today that it has recently completed a mineral resources estimate on its 100 per cent owned Mutanga Project based on the results of its 2011 drill program, and this new estimate significantly expands the mineral resources at the Mutanga Project. The company said the new Dibwe East Inferred resource, located between the main Mutanga and Dibwe deposits, was estimated as of Feb. 24, 2012 to be 39.8 million tonnes grading 322 ppm eU3O8, containing 28.2 million lbs. The resource estimated at the Dibwe East deposit represents a significant discovery of continuous uranium mineralization associated with known ore-bearing geologic sediments.
Security solutions provider Route1 Inc. announced today its intention to make a Normal Course Issuer Bid to buy back its common shares through the facilities of the TSX Venture Exchange. The NCIB has received Exchange approval. The maximum number of common shares that may be purchased for cancellation pursuant to the NCIB is that number of common shares that represents 10 per cent of the common shares in the public float on the date that the Exchange approves the NCIB.
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