| To: PaperPerson who wrote (4650) | 8/7/2012 10:47:43 AM | | From: PaperPerson | | | | Barrick Gold Studies Acquiring Assets as It Reviews Costly Mines
By Soraya Permatasari - Aug 7, 2012 6:24 AM ET
Barrick Gold Corp. (ABX), the world’s biggest gold producer, is studying buying new mines as it completes a review to reduce costs at existing assets.
“Perhaps there’s more M&A opportunities today than there were a year ago and as a company we’re looking at those assets on a daily basis,” Mike Feehan, regional president of the Toronto-based company’s Australia and Pacific operations said today at the Diggers & Dealers mining conference in Kalgoorlie, Australia. “If we could find a few million ounces of gold deposit that’s probably pretty good.”
Barrick Chief Executive Officer Jamie Sokalsky is revising costs and reviewing the company’s other development projects after taking over last month from Aaron Regent, who was fired. After 11 straight years of gains which have seen gold rise more than fivefold, the price of the precious metal is up just 3.1 percent this year, giving producers less room for maneuver and pushing them to focus on returns instead of output.
Demand for gold will be driven by central bank purchases for the metal as a store of value, as well as rising jewelry demand in China and India, Feehan said, declining to offer his outlook on price. Gold for immediate delivery gained 0.3 percent to $1,614.50 an ounce at 5:18 p.m. Perth time. It may gain to $1,800 by the first quarter of next year, according to the median of 18 analyst estimates compiled by Bloomberg.
Barrick plans to spend 20 percent of this year’s $450 million to $490 million exploration budget for projects in Australia and Papua New Guinea, he said. It spent $90 million in the Australia Pacific region last year, according to data compiled by Bloomberg.
Barrick reaffirmed its gold production forecast for this year of 7.3 million to 7.8 million ounces in a statement today. Copper production will be 460 million to 500 million pounds. The Lumwana copper mine in Zambia, which it acquired in July last year, will improve production in 2013, with an expected output of around 250 million ounces, it said today.
The company reiterated its forecast for 2012 gold cash costs of $550 to $575 per ounce, having increased it earlier this year from $520 to $560. |
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| From: PaperPerson | 8/7/2012 10:06:28 PM | | | | | | Sandstorm Gold Reports Record Gold Sales and Operating Cash Flow in Q2, 2012
Press Release: Sandstorm Gold Ltd. – Thu, Jul 26, 2012 4:50 PM
VANCOUVER, BRITISH COLUMBIA--(Marketwire -07/26/12)- Sandstorm Gold Ltd. ("Sandstorm" or the "Company") (SSL.V) is pleased to announce its unaudited results for the second quarter ended June 30, 2012 (all figures in U.S. dollars).
Second Quarter Highlights
-- Record gold sales of 9,259 ounces.
-- Record operating cash flow of $11.3 million.
-- Average cash cost per ounce(1) of $298 resulting in cash operating
margins of $1,317 per ounce.
-- Net income of $5.3 million.
-- Sandstorm acquired from Magellan Minerals Ltd., a 2.5% net smelter
returns royalty on the Coringa gold project and a 1.0% NSR royalty on
the Cuiu Cuiu gold project.
-- Sandstorm acquired a 2.4% net smelter returns royalty on the Mt.
Hamilton gold project from Solitario Exploration & Royalty Corp. and Ely
Gold & Minerals Inc.
"Steady production growth from our mining partners has led to consecutive record quarters for Sandstorm," said President & CEO Nolan Watson. "During the second quarter we deployed our cash into royalty transactions that we believe will be accretive to shareholders, and the pipeline of potential gold streaming opportunities is stronger than ever."
Outlook
Based on existing gold stream agreements, the forecasted attributable production for 2012 is 28,000 to 33,000 ounces of gold, increasing to over 50,000 ounces of gold per annum by 2015.
Further details of the individual commodity streams can be found within Management's Discussion and Analysis contained in the Company's second quarter 2012 report and on the Company website.
Webcast and Conference Call Details
A conference call will be held on Friday, July 27, 2012 starting at 8:30am PDT to further discuss the second quarter results. To participate in the conference call use the following dial-in numbers:
Local/International: 647-788-4916
North American Toll-Free: 877-214-4966
It is recommended that participants dial in five minutes prior to the commencement of the conference call. Click here to access an audio webcast of the conference call which will also be available on the Sandstorm website.
ABOUT SANDSTORM GOLD
Sandstorm Gold Ltd. is a growth focused resource based company that seeks to complete gold purchase agreements with companies that have advanced stage development projects or operating mines. A gold purchase agreement involves Sandstorm making an upfront cash payment to its partners and in exchange, Sandstorm receives the right to purchase a percentage of the gold produced for the life of the mine, at a fixed price per ounce. Sandstorm helps other companies in the resource industry grow their business, while acquiring attractive assets in the process.
Sandstorm is focused on low cost operations with excellent exploration potential and strong management teams. Sandstorm has completed gold purchase or royalty agreements with Luna Gold Corp., SilverCrest Mines Inc., Santa Fe Gold Corp., Rambler Metals and Mining plc, Brigus Gold Corp., Metanor Resources Inc., Donner Metals Ltd., Magellan Minerals Ltd., Solitario Exploration & Royalty Corp. and Ely Gold & Minerals Inc.
For more information visit: www.sandstormgold.com. |
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| From: PaperPerson | 8/13/2012 5:34:18 PM | | | | | | Claude Resources 2nd-qtr profit falls 88 pct as costs rise
Mon Aug 13, 2012 9:29am EDT
(Reuters) - Gold producer Claude Resources Inc cut its full-year production forecast after its second-quarter profit fell steeply due to higher costs and a fall in ore quality.
The Quebec-focused company cut its full-year production estimate to 48,000 to 50,000 ounces of gold from 50,000 to 52,000 ounces.
The company also said it expects per-unit cash costs to be higher by 10 percent in 2012.
Output at its only producing site, Seabee Gold Operation in northern Saskatchewan, fell 4 percent in the second quarter to 12,166 ounces, while production costs rose 50 percent to C$13.3 million.
Net profit fell to C$679,000 ($634,700), or a break even per share, from C$5.2 million, or 3 Canadian cents per share, a year earlier.
Revenue rose 10 percent to C$20.1 million on higher gold prices.
Gold price rose 7 percent during the second quarter from the year-ago period to average $1,611 per ounce. |
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| From: PaperPerson | 8/14/2012 9:56:13 AM | | | | | | Medical Marijuana, Inc. Closes with Lotus Capital for a $2 Million Equity Based Line of CreditPress Release: Medical Marijuana, Inc. – 1 hour 16 minutes ago
Companies:
Medical Marijuana, Inc.
RELATED QUOTES
SymbolPriceChange
MJNA 0.0355 0.00
SAN DIEGO, Aug. 14, 2012 /PRNewswire/ -- Medical Marijuana, Inc. (MJNA) a leading hemp industry innovator, has announced that the Company has signed closing documentation for a $2 million USD line of credit with Lotus Capital, a Chicago based private equity firm. The line of credit will be used as a reserve fund for product expansion of the Dixie X line of Cannabidoil (CBD) based products as well as to support the national marketing campaign of the Dixie X and CanChew gum product launch, scheduled for early September. The LOC will also be available to support future expansion through Company acquisitions.
This new revolving line of credit will be secured against shares of the Company's Capital Stock. MJNA is in the process of providing a new S-1 registration statement for the issuance of the shares. Additional terms of the LOC allow MJNA to cancel the line at any time, releasing the security interest in the shares back to the Company. This transaction is non-dilutive to the shareholders providing that the Company repays any drawdown against the LOC per the terms of the agreement.
Revolving Line of Credit Uses
Currently, Company revenue sources are sufficient to meet operational cash-flow requirements. However, the Company anticipates increased costs to properly support the national launch of its hemp-based CBD Dixie-X and CanChew products. Additionally, we have numerous product and market expansion opportunities which require capital to execute. For these reasons, the Company has been exploring several financing options.
Medical Marijuana, Inc. President Michael Llamas was quoted: "Having this additional access to the capital markets gives us maximum flexibility to bring forth the best of the numerous business opportunities that lie before us. Although we have been extremely selective in our current business development, we foresee numerous potential expansion opportunities and want to be prepared for the future. We appreciate the continued support of our team and shareholders."
Company to become Fully Reporting
In conjunction with the S-1 filing, MJNA expects to file their first audited financial statements prior to year-end. The Company's objective is to complete the 15c2-11 application process, which it started in May of this year, as well as becoming a fully reporting, fully compliant company with the Securities Exchange Commission (SEC). The audit and due diligence process will take an additional 90 to 120 days to complete. Once completed and approved, the Company's equity shares will trade on a "Solicited" basis, be on a higher level of the NASD Over-the-Counter Bulletin Board and there will be a dedicated market maker for the Company's tradable shares.
About Medical Marijuana, Inc.
Our mission is to be the premier cannabis and hemp industry innovators, leveraging our team of professionals to source, evaluate and purchase value-added companies and products, while allowing them to keep their integrity and entrepreneurial spirit. We strive to create awareness within our industry, develop environmentally friendly, economically sustainable businesses, while increasing shareholder value.
Medical Marijuana, Inc. does not grow, sell or distribute any substances that violate United States Law or the controlled substance act.
For more information, please visit the company's website at: www.MedicalMarijuanaInc.com |
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| From: esalad | 8/15/2012 5:31:41 PM | | | | | | Sandstorm Gold To List On the NYSE MKT LLC
Vancouver, British Columbia | August 15, 2012
Sandstorm Gold Ltd. (“Sandstorm” or the “Company”) (TSX-V: SSL) is pleased to announce that its common shares have been approved to list on the NYSE MKT LLC and will begin trading on August 20, 2012 under the symbol “SAND”. The Company’s common shares will continue to be listed on the TSX Venture exchange under the symbol “SSL”.
“This is an exciting milestone in the young history of Sandstorm”, said President and CEO Nolan Watson. “Trading on the NYSE MKT will give us the opportunity to attract a larger investor base in the U.S. and internationally.”
Members of the Sandstorm team will have the pleasure of ringing the NYSE Opening Bell on August 20, 2012. |
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| From: PaperPerson | 8/15/2012 7:32:41 PM | | | | | | MJNA making a nice move above a three-cent one-year moving average. Fundamentals falling into place now that move has started.
Blue line is 50 week MA. On bakance volume line above and below office chart support validity of breakout.
stockcharts.com
Site: medicalmarijuanainc.com
News:
Medical Marijuana, Inc. Reports Second Quarter 2012 Revenue and Income Quarter Over Quarter Increase Of Over 1200 Percent From Same Period Last Year
Last update: 8/15/2012 9:37:00 AM
SAN DIEGO, Aug. 15, 2012 /PRNewswire via COMTEX/ -- Medical Marijuana, Inc. (MJNA), one of the medical marijuana (MMJ) industry's premier cannabis and hemp industry innovators, today announced its second quarter earnings. The company earned net income of approximately $1.47 million on gross revenues of $2.40 million for the quarter ended June 30, 2012. This represents a gross revenue increase of 1200 plus percent quarter-over-quarter when compared to revenue of $196,748 for the quarter ended June 30, 2011. Operating expenses and cost of goods sold totaled approximately $930,000 for the quarter.
Operational and development highlights
Operating highlights of the quarter were as follows:
Completed the acquisition of Dixie Elixirs & Edibles brand, intellectual property, proprietary formulas and extraction processes. In conjunction it formed Red Dice Holdings, as was announced in late April, to develop manufacturing and distribution partnerships for Dixie in every state and country that has legalized medical cannabis. Finalized national and international product development for Q 3 online and retail sales launch.
Begun hemp-based extraction product development beyond the medical marijuana industry, crossing into the nationally legal category of health and wellness with such products as sleep aids, topical and pain management. A market launch of the new products is expected by the end of the second quarter.
Brought PhytoSPHERE systems on-line and will begin to market the benefits of its seed-to-sale product growth and cultivation technology worldwide.
Completed Hemp Oil CBD production at facility "1". Commercialized and expanded production to meet next 12-24 month demand.
Completed the acquisition of CanCHEW Bio-Technologies, secured regional GMP manufacturing partner, as well as produced first U.S. based sample production.
Submitted company's portfolio of products to European Health Authorities for Over-The-Counter (OTC) approvals.
Started clinical development five of the fifty five products.
In addition, since the close of the second quarter, Medical Marijuana, Inc. has:
Finalized U.S. and International CBD product launch plan.
Produced over 35-million doses worth of CBD Oil for MJNA product sales.
Formally started the negotiations and final terms for the acquisition of a chain of retail health and wellness facilities in the U.S. with revenues in excess of $8.0 million annually.
Sold its first batch of commercialized CBD Oil.
Contracted for the production of 300KG of CBD oil for $7.5 million.
Sourced Arizona, California, European Dixie Brand and CanCHEW distribution partners.
Signed closing docs for Lotus Capital $2.0 million line of credit.
Comments regarding operations and outlook
"The second quarter of 2012 cemented Medical Marijuana, Inc.'s path," said Michael Llamas, President of Medical Marijuana, Inc. "We have spent this last year and a half essentially getting our house in order by clarifying the growth strategy and systematically identifying, acquiring and growing early stage companies across the spectrum of the MMJ and hemp industries from product development and production, to retail sales. As witnessed by our strong quarter-over-quarter and year-over-year growth, there is tremendous opportunity in this industry and that opportunity is growing rapidly at home and abroad. With the acquisition of the Dixie brand we have secured our product development, manufacturing, sales and customer services platform, which now enables the company to focus on developing its online sales and retail sales, while allowing MJNA to develop and acquire additional brands and integrate them seamlessly into our overall sales platform thus allowing our strong growth to continue. With the investment and development of CanCHEW, the company has cemented MJNA's place in the future cannabinoid pharmaceutical drug delivery system. We feel this is truly a revolutionary product."
"In 2012 we have continued to build a strong foundation in which grow the MJNA's portfolio. We appreciate the continued support of our dedicated team and shareholders," stated Michael Llamas, President of Medical Marijuana, Inc.
Our mission is to be the premier cannabis and hemp industry innovators, leveraging our team of professionals to source, evaluate and purchase value-added companies and products, while allowing them to keep their integrity and entrepreneurial spirit. We strive to create awareness within our industry, develop environmentally friendly, economically sustainable businesses, while increasing shareholder value. |
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| To: esalad who wrote (4655) | 8/16/2012 8:16:27 AM | | From: PaperPerson | | | | | Put and call options on SSL/SAND to come. Writing covered calls is an excellent way to safely generate income in a portfolio. |
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