Canacol Energy Ltd. reported that C&C Energia Ltd. has finished the completion and testing of the Neme Formation in the Cachalote-1 well in Colombia and will abandon the well. The operator plans to move the drilling rig at Cachalote-1 in the coming days to the Tardigrado prospect located on the northern portion of the Andaquies block and spud the Tardigrado-1 exploration well within 2 to 3 weeks. The Tardigrado prospect is a three-way structural closure against a fault with potential in the Neme and Caballos formations.
San Gold Corporation and SGX Resources Inc. announced that they have reached an initial agreement for SGX to purchase all of the interests of San Gold in its mineral properties in Tisdale Township, in the Timmins, Ontario mining camp in consideration of the issuance of 8,060,000 common shares of SGX at a deemed price of $0.50 per SGX Share to San Gold. SGX and San Gold anticipate entering into a formal purchase agreement with respect to the transaction in the near future.
Mood Media Corp. is telling analysts to expect the current quarter's earnings to be 10 per cent better than they expected, the Globe and Mail reported. The reason: Mood is having some success convincing Muzak's customers to purchase its other "in-store experience" products, items such as the digital advertising screens found in many retail stores, it said.
Wildcat Silver Corporation announced an updated mineral resource estimate for its Hermosa project, located in Santa Cruz, Arizona. The updated mineral resource is comprised of: Indicated resource of 101.4 million tonnes of 53.18 g/t silver for 171.3 million ounces of silver; Inferred resource of 83.6 million tonnes of 36.42 g/t silver for 98.6 million ounces of silver. It said this represents a significant increase compared to the previous 2010 mineral resource estimate.
Exall Energy Corporation announced the results of its independent third party NI 51-101 compliant reserves assessment. Highlights include: Proved plus probable net present value per share of $2.46 (Before Tax, discounted at 10 per cent) based on 68.1 million fully diluted shares; Company working interest reserves are 2,048.3 Mboe total proved and 4,574.5 Mboe proved plus probable, a 41 per cent increase from 2010; The net present value of the proved plus probable reserves increased 65 per cent from 2010 to $167.1 million, discounted at 10 per cent, forecast prices, before tax.
Invicta Energy Corp. , which gained 3.5 cents or nearly 20 per cent on Friday, announced its $14.0-million 2012 capital expenditure program, a light oil weighted production increase of approximately 200 per cent and updated its shareholders on the company's operations.
Canlan Ice Sports Corp. , providers of recreational sports and entertainment facilities across North America, today announced that due to unfavorable local conditions and the facility failing to meet its profit expectations, it has made a strategic decision not to renew the existing operating lease at the two-pad ice rink facility located in Vineland, New Jersey. Canlan has decided to cease operations, effective March 31, 2012. All programs, ice rentals, leagues, tournaments and other such commitments will be honored until that date.
Atna Resources Ltd. , which ended Friday's session hitting a new year high of $1.14, announced today the newly updated resource estimate at the Pinson Mine near Winnemucca, Nevada. The company said this study adds a significant open pit mineral resource to the already extensive high-grade underground mineral resource previously reported for Pinson.
Pacific Coal Resources Ltd. announced today that it has resumed operations at its La Caypa mine, which were stalled by an illegal work stoppage by unauthorized personnel as announced in the Company's Jan. 30, 2012 news release. Operations at La Caypa resumed Saturday morning, and the company's production returned to normal levels by Sunday morning. The company will work to catch up on lost production.
Yukon-Nevada Gold Corp. today announced that it has restarted production following commissioning of a new ore dryer, fine-crushing conveying system and Distributed Control System at its wholly-owned Jerritt Canyon gold operation in Nevada, USA. A shutdown of production was initiated on Jan. 6, 2012 in order to complete a winterization and refurbishment program which included constructing a new drying facility and reconfiguring the conveying system in fine crushing.
Westridge Resources Inc. today announced that the strike length of the high grade epithermal gold and silver El Padre Vein system in the Charay Project in northern Sinaloa State, Mexico has expanded from 240 meters to nearly 1,000 meters through a recent trenching and surface sampling program. Follow up core drilling is planned for early February 2012.
BioteQ Environmental Technologies Inc. has provided an update on plant operations for 2011, and organizational changes. The company said its water treatment operations treated more than 9.4 billion liters of waste water in 2011, and removed approximately 2.1 million pounds of metals from the environment. The plants met strict health, safety, and environmental standards at all sites.