Author stories Proactiveinvestors Author stories RSS feed en Thu, 22 Feb 2018 19:07:02 +0000 Genera CMS (Proactiveinvestors) (Proactiveinvestors) Valdor Technology positions itself for growth in fiber optics components sector Investors who put their faith in Valdor Technology International's (CVE:VTI) $2 million private placement - which closed last month - have been handsomely rewarded in short order with shares in the fiber optics components specialist already up over 90 per cent from the 10 cent placement price.

Tue, 27 Aug 2013 17:51:00 +0100
Spanish Mountain looks to boost grade and confidence of Main Zone Spanish Mountain Gold (TSX-V:SPA) announced this morning that it had embarked on a 10,000 meter drill program aimed at potentially improving grade within a test block area of the main pit. 

The company has already delineated a measured and indicated resource of 216 million tonnes averaging 0.46 grams per tonne of gold and 0.68 grams per tonne of silver, or 3.18 million ounces of gold and 4.73 million ounces of silver at Spanish Mountain.  There is also an additional 316 million tonnes in the inferred category at a lower grade of .36 grams per tonne gold and 0.65 grams per tonne silver, After reviewing results from past reverse-circulation and diamond drill assays, the company's  geologists noted that it appeared there may be some loss of grade with the diamond drill holes compared to reverse circulation holes which is not all that uncommon when drilling lower grade deposits.  

With approximately $2.7 million in flow funds raised in December, it was decided by management that directing funds to test this hypothesis would be money well spent - any improvement in the overall grade of the deposit could have a significant impact on the overall economics - especially critical in the current environment for gold projects seeking development capital.

Spanish Mountain will be drilling right in the heart of the envisaged starter pit at Spanish Mountain, drilling at least 10,000 meters to an indicated resource level.  If the grade improves at the same time, it would be a significant milestone for the company.

“If this program achieves a reasonable grade increase it could potentially lead to a significant improvement in the project economics,"  Colin Clancy, head of Corporate Communications told Proactiveinvestors this morning. “Considering the current market conditions management believes this program provides the best opportunity to potentially add significant value at minimal cost to the shareholders.”

Spanish Mountain also noted that a second phase is expected to immediately follow,  to expand beyond the area of the test block and will "conform as closely as possible to the initial phases of potential pit development proposed in Preliminary Economic Assessment."

Future developments for Spanish mountain gold will be a reclassification program designed to move approximately 20% of the inpit resource from inferred to M&I with the intent of starting a full feasibility study in 2014.

Thu, 22 Aug 2013 15:34:00 +0100
Orvana Minerals CEO snaps up more shares Orvana Minerals (TSE:ORV) CEO Michael Winship has continued to show his confidence in the copper and silver miner, snapping up 30,000 shares at 48 cents this week. In May Winship acquired of 60,000 Orvana shares at a price of 53 cents each, for a total of $31,800. 

Just last week, Stonecap Securities reiterated their "outperform" rating on the stock following the release of the company's fiscal third quarter, with analyst Christos Doulis saying the miner was still able to generate a small amount of free cash flow during the period despite the weak metal price environment. 

Doulis, who also left his $1.00 price target on the company unchanged, noted that Orvana's balance sheet challenges, such as its debt repayment, remain, and will be "exacerbated" should metal prices remain weak. Still, he wrote: "For those bullish on the precious metal space we believe Orvana offers significant upside."

In the third quarter, cash flow provided by the company's operating activities was $10.8 million, or $4.6 million before changes in working capital. Capex was $4.3 million, resulting in free cash flow of $6.5 million, or $0.3 million before changes in working capital. 

Thu, 22 Aug 2013 14:06:00 +0100
Chevron-YPF deal heightens investor interest in Madalena Ventures Vaca Muerta shale oil acreage Madalena Ventures' (CVE:MVN) shares are on the rise again today after investors and analysts weighed up the implications of news that Chevron (NYSE:CVX) and YPF have increased their investment commitments in the Vaca Muerta oil shale oil reservoir, where Madalena has interests in two blocks

Tue, 21 May 2013 20:42:00 +0100
Belvedere Resources has 'best ever' quarter at Hitura nickel mine Nickel miner Belvedere Resources’ (CVE:BEL) Hitura mine in Finland enjoyed its best ever quarter in the three months to March.

Hitura produced 663 tonnes of Nickel concentrate, against forecast production of 610 tonnes and which boosted cash generated to €3.2 mln. 

Revenues rose by 18 per cent quarter on to quarter to €8.86 mln, while net income more than doubled on a sequential basis to €1.31 mln.

Belvedere said the results built on a good performance from the previous quarter and reflected reducing operating costs and increasing throughput at Hitura.

David Pym, chief executive, added:  "This quarter is the third consecutive quarter where operations have demonstrated real growth in revenues, cash flow, production and net income against an extremely challenging macro-economic background."

"Income from the Hitura Nickel mine continues to grow the company's cash position and finance exploration and development on our pipeline of gold projects,” he added.

The company said that final studies are underway at Hitura on the feasibility of restarting open pit operations at surface in conjunction with underground mining, while the recent resource upgrade at the mine has also substantially increased overall mining reserves.

Over the rest of the year, Belevedere said it intends to continue underground exploration for near surface resources on its Nickel projects.

Further exploration drilling campaigns are also planned on its early stage gold plays at Rantasalmi, Hirsikangas, Antikanpera and Kangaskyla, while metallurgical studies are underway at the Kopsa gold copper property to allow feasibility studies to commence.

Belvedere is aiming for gold production from Kopsa in 2014.

Thu, 31 May 2012 10:59:00 +0100
Digital Shelf Space adds Canadian Tire to fast expanding list of retailers carrying GSP RUSHFIT

Digital Shelf Space (CVE:DSS, OTCQX:DTSRF) announced today that it has added Canadian Tire (TSE:CTC.A) to its fast growing list of retailers that will carry its GSP RUSHFIT home workout DVD series.  

GSP RUSHFIT features mixed martial arts (MMA) champion Georges St-Pierre, and was designed to appeal to a demographic interested in MMA and its training methods. The DVD series aims to give both an efficient and effective workout at home, with minimal equipment, by using many MMA conditioning exercises, intense circuit style training and body weight training for fitness consumers to build muscle, cut weight and get in shape.

"We were very excited to learn from our global distribution partner, Northern Response (International) Ltd. that Canadian Tire, with over 480 stores across Canada, has chosen our GSP RUSHFIT workout series," said Jeffrey Sharpe, CEO and President of DSS. 

"Being on the shelves at Canadian Tire starting this Fall is a feather in the cap for our GSP RUSHFIT product and gives consumers even greater accessibility and convenience to purchase the GSP RUSHFIT product."

The GSP RUSHFIT DVD series is now carried in Canada by major retailers including Sears Canada, Zellers, Walmart, Future Shop, National Sports, Sports Experts, Sport Check, Best Buy, and as of today, Canadian Tire. It is currently sold in the U.S. by The Sports Authority. The GSP RUSHFIT program is expected to be available in over 3,000 stores by the end of the third quarter.

In the six months ending June 30, 2011, the company generated sales of $1.14 million. Second quarter sales rose 3.6% sequentially, to $582,251 over the first quarter. These numbers are expected to improve further in the second half, as television ads just began airing in June and the number of stores selling GSP RUSHFIT continues to increase. 

Over 25,000 copies of the DVD series have already been sold.

The product can also be purchased through the GSP RUSHFIT website ( 

Thu, 29 Sep 2011 20:05:00 +0100
Kootenay kicks of additional round of studies to speed up development of Promontorio Silver Project

Shares in junior exploration outfit Kootenay Gold (CVE:KTN) moved 5% higher this morning after the company announced that it had contracted Hatch Engineering, Sanguaro Geosciences and G&T Metallurgical Services to undertake a number of studies on the company’s flagship Promontorio Silver Project in Sonora, Mexico.  The Vancouver based company has also brought in independent consulting engineer Patricia Aguayo Hurtado.

Hatch Engineering will conduct initial hydrologic studies, which will form the basis of additional studies assessing

mine water supply for potential open pit and underground mining. Saguaro Geosciences will design a geotechnical logging program “that goes beyond the basic specific gravity and RQD data currently being recorded.”

Meanwhile, G&T Metallurgical Services, will conduct additional metallurgical work on Promontorio mineralization. The company was keen to note that this work will include a gold deportment study to consider if gold content in the deposit can be extracted economically.

Independent Consulting Engineer Patricia Aguayo Hurtado has been contracted to conduct an environmental baseline study.

“An extensive drilling and analysis program is underway to quantify and confirm the scope and size of our silver deposit. Based on the continued success of our current 25,000 meter drill program, combined with results from our previous phases of drilling, we are sufficiently encouraged with results to begin taking the requisite steps to pursue our ultimate goal, which is to advance the Promontorio Silver Project to commercial production,” stated CEO James McDonald.

Under the direction of James McDonald, Kootenay has completed over 35,000 meters of multi-phase drilling on Promontorio, moving the project to its current advanced stage of development. McDonald has been a key driver in the success of the Promontorio project, and brings a strong track record of helping companies, such as Alamos Gold, move from exploration to production.

Thu, 29 Sep 2011 16:18:00 +0100
US, Canadian markets in retreat mode again despite better than expected US payroll numbers Stock markets in Toronto and New York moved lower again this morning, adding to yesterdays rout as concerns about the fiscal health of Spain, worries that the US economy is teetering on the edge of double-dip recession and a massive drop in crude oil and many other commodities undermined equities across the globe.

This morning`s US payroll report, which showed the US economy added 117,000 jobs in July – ahead of expectations of a 75,000 gain – did little to appease fears.

By 11:30am The Dow Jones Industrial Average (DJIA) was down 129 points, or 1.07% to 11,266, bringing its total drop since July 21st to over 9%.  It was an equally grim story on the tech laden NASDAQ, which fell 1.73% today, and the broader S&P 500, which gave up 1.27%.

Canada’s Toronto Stock Exchange (TSX) and TSX Venture (TSX-V) also fell today. The TSX was down 207 points, or approximately 1.7% at 12,172 while the more junior company focused TSX-V was off 1.9% at 1817.  The worst performing sectors on the TSX this morning were energy, healthcare and industrials. Decliners outpaced gainers by a ratio of more than 3:1.

Energy and mining stocks in North America were undermined by weaker commodity prices. Crude oil slipped $0.57/barrel to $86.14, though Natural Gas rose 0.43% to $3.96 per mcf.

Metals were also more mixed. Copper slipped 1.7% to $4.16/pound, but gold added $6.80 to 1,677 by 11:30 am.  Silver on the other hand, fell 29 cents cents to $39.15/ounce.

In the news

The Procter & Gamble Company (NYSE:PG) announced Friday a 15% hike in earnings for its fourth quarter, as rising prices and favourable currencies push its sales up 10%, prompting the company to set its forecast in line with estimates. For the three months ending June 30, Procter & Gamble posted net income of $2.5 billion, or $0.84 per share, up 15% from $2.2 billion, or $0.71 per share, a year ago. Revenues rose to $20.9 billion, up 10% from $18.9 billion in the same period last year. Analysts had anticipated $0.82 in earnings on a per share basis, and revenues of $20.63 billion.

Enbridge, Inc. (TSE:ENB, NYSE:ENB)
, one of Canada’s largest natural gas distributors, reported strong second quarter revenues and profits helped by gains on its derivative contracts as it moved more natural gas on its pipeline system.

Sales rose 42% to $4.98 billion in the quarter that ended June. That compares with $3.51 billion a year earlier. Net income for the quarter was $259 million, or 34 cents per share, up from $138 million, or 18 cents per share, last year. Calgary-based Enbridge said profits jumped due to gains on derivatives contracts and higher earnings in Enbridge’s gas-distribution and energy-services businesses. Adjusted profit climbed to $260 million, or 35 cents, up from $232 million, or 31 cents, in the year-prior quarter.  Analysts had expected profits of 33 cents, on revenue of $4.1 billion, according to Bloomberg.

Investment dealer GMP Capital Inc. (TSE: GMP) reported a 79% drop in second-quarter profit, hurt by lower levels of underwriting activity and reduced trading volumes.

Revenue slipped 41% to $67.6 million for the second-quarter that ended June 30. This compares with $114.7 million in the same period last year. Net income logged in at $5.1 million, or 4 cents per diluted share, down from $24.1 million, or 32 cents per diluted share, one year ago. The company attributes the declines to lower underwriting activity and challenging business conditions in the Canadian mid-market. Analysts, on average, had expected GMP to earn 19 cents, on revenues of $83.1 million, according to Bloomberg.

TMX Group Inc. (TSE:X), the Toronto Stock Exchange owner, said second-quarter profits fell 6% because of costs from its botched merger with the London Stock Exchange Plc. (LON: LSE), but revenue rose due to lower costs, higher listing fees and trading.

TMX lost 51 cents, or 1.18% to $42.61 in recent trade Friday. Revenue climbed 8% to $169.3 million for the second-quarter that ended June 30. That compares with $156.1 million in the same period last year. The company attributes the rise from issuer services, derivative markets trading and clearing and information services. Toronto-based TMX Group said net income came in at $54.7 million, or 73 cents per share, down from $58.4 million or 79 cents per share a year earlier.

iGate Corp (NASDAQ:IGTE) announced Friday it more than doubled revenues in its second quarter on the successful integration of the recently acquired Patni Computer Systems Ltd, but still fell short of Street estimates.

For the three months ending June 30, the consulting, and technology and business solutions provider posted net income of $4.0 million, or a 2-cent loss per share, down 64% from $11.2 million, or $0.20 per share, a year ago. Adjusted for the $1.22 billion acquisition of the majority stake in Patni in May, profits were $11.9 million, or $0.16 per share, compared to $13.2 million, or $0.23 per share, in the year-ago period. Revenues, however, more than doubled to $170.4 million, from $66.8 million in the same period last year. Analysts had anticipated earnings of $0.13 per share, on $174.45 million in revenues. Gross margins also slid to 34.7% for the quarter, from 38.1% a year ago.

Fri, 05 Aug 2011 16:33:00 +0100
US, Canadian markets plunge as investors raise alarm over US economy; oil drops 5%, gold does u-turn Crude oil was hit particularly hard by concerns about the strength of the US economy, which underpins demand.  Oil fell an eye-watering $4.96/barrel to $86.97.  The picture was equally grim for other commodities.  

Thu, 04 Aug 2011 20:12:00 +0100
US markets ripped as investor concern over health of US economy increases

US markets are headed for  a massive day of losses, blamed on a combination of increasing investor concern about the strength of the US economy heading into the second half of 2011 and rising concerns in Europe that Spain may require financial support to avert a crisis similar to the one in Greece.

The Dow Jones Industrial Average (DJIA) plunged 359 points, or 3% to 11,538, bringing its total drop since July 21st to over 1000 points, or just over 8%.  It was an equally grim story on the tech laden NASDAQ, which fell 3.55% today, and the broader S&P 500, which tanked 3.4%.

One of the few blue chip stock to chalk up a gain today was Kraft Foods (NYSE:KFT). Kraft announced a 13% hike to its second quarter revenues, prompting the company to increase its full year guidance, despite its earnings losing to Street estimates. For the three months ending June 30, the consumer products giant posted net income attributable to Kraft of $976 million, or $0.55 per share, up 4.2% from $937 million, or $0.53 per share, a year ago. Revenues for the quarter rose 13.3% to $13.9 billion, from $12.3 billion in the same period last year.   Analysts had anticipated earnings of $0.58 per share on $13.15 billion in revenues.

Kraft also increased its outlook for the full year. The company now forecasts revenue growth between 4% and 5%, equalling a range of $51.2 billion to $51.7 billion, and operating earnings between $2.20 and $2.25 per share.

Kraft also said it plans to split its snack business and its grocery business, which have estimated revenues of approximately $32 billion and $16 billion, respectively, enabling each segment to focus on its distinct strategic priorities. The new global snacks business will consist of the current European and Developing Markets units, and the North American snacks and confectionery businesses, with key brands like Oreo, Cadbury, and Trident gum.

Thu, 04 Aug 2011 19:17:00 +0100