Check out Atlantic Coal, listed in London on AIM and OTCQX
100% owner of a first class anthracite coal mine, Stockton, in Hazleton PA
Demand for anthracite at the moment is very strong and has driven prices to over 160$ per tonne
Export prices are trading about 130$ premium to API 2 and 4 and are approx 220$ per tonne tracking closely HCC pricing
Stockton could well produce over 155,000 tonnes of clean coal this year and will likely see ATC turn in a maiden profit
For investors, ATC is a good play and underpriced relative to its net asset value and likely shift into profit
Tuesday, 14 August 2012
Thursday, 9 August 2012
BRAZILIAN GOLD CORP (BGC:TSX.V) OUTLINES 8.47 MT GRADING 1.23 G/T GOLD FOR 336,000 CONTAINED OUNCES IN THE FIRST RESOURCE ESTIMATE ON THE VG1 DEPOSIT (BOA VISTA PROJECT), BRAZIL
August 9, 2012
Brazilian Gold Corporation (TSXV: BGC) is pleased to report the results of the first NI43-101 compliant mineral resource estimate for the VG1 gold deposit (Boa Vista project) located in the Tapajós region of northern Brazil.
Brazilian Gold and their joint venture partners, Octa Mineração Ltda. and D’Gold Mineral Ltda., reported the VG1 discovery in the first quarter of 2011 and have completed two phases of diamond drilling (15 holes in 3,007 m) since that time.
The inferred mineral resource for the VG1 gold deposit is 8.47 Mt grading 1.23 g/t gold at a 0.5 g/t cut-off for 336,000 contained ounces. The mineral resource estimate was completed by Giroux Consultants Ltd. of Vancouver, B.C., Canada, and is documented in an independent NI43-101 Technical Report that will be posted on the BGC website and SEDAR.
The VG1 deposit is road accessible and is located approximately 170 km southwest of the town of Novo Progresso, which is located on the recently paved BR-163 highway.
Highlights
• Maiden resource estimate on the VG1 gold deposit completed shortly (16 months) after discovery was reported in March 2011 (News Release 5/11 and 6/11).
• Resource estimate is based on shallow (<150 m depth) and limited drilling (15 holes in 3,007 m) and trenching (14 trenches in 2,229 m) of the eastern 600 m of an overall 2,000 m long gold-in-soil anomaly.
• Mineralization forms a coherent deposit that is not significantly affected by changes in the cut-off grade near the declared resource grade of 0.5 g/t gold.
• Deposit is open at depth and along strike with a high potential to expand the existing resource.
• Mineralization starts at surface, is up to 85 m in thickness and may be amenable to open pit extraction with a relatively low strip ratio.
• Gold grade appears to be increasing with depth and to the east based on limited drilling completed to date.
• Coarse gold visible in some drill cores and trench samples and in screened metallic analysis of selected trench samples indicates the overall grade of the deposit could be higher when larger samples are mined and processed.
Wednesday, 8 August 2012
Thursday, 2 August 2012
Tuesday, 31 July 2012
Solo Oil PLC Advance Ruvuma Testing
Solo recently reported it has accessed £363,000 from their three year £10 million Equity Line Facility with Dutchess Opportunity Cayman Fund Ltd to continue funding the developments and current flow testing programme at the Ntorya-1 discovery well in Tanzania. Solo holds a 25% working interest in the Ruvuma PSA.
Solo has issued and allotted 90,844,685 new Ordinary Shares of 0.01 p each at a price of 0.40p pursuant to the drawdown. An Application will be made for the new ordinary shares to be admitted to trading on the AIM Market. The new ordinary shares will rank pari passu with the existing ordinary shares in the Company and trading of these shares on AIM is expected to commence on the 1 August 2012.
Following Admission, the Company's issued share capital will consist of 2,778,344,708 Ordinary Shares with a nominal value of 0.01p each, with voting rights ("Ordinary Shares"), and 265,324,634 deferred shares of 0.69p each. The deferred shares are non-voting, are not admitted to trading on AIM and are not entitled to any participation in the profits or the assets of the Company. The Company does not hold any Ordinary Shares in Treasury. Therefore the total number of Ordinary Shares in the Company with voting rights is 2,778,344,708.
The above figure of 2,778,344,708 Ordinary Shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Financial Service Authority's Disclosure and Transparency Rules.
Strategic Minerals AIM:SML Set to Shine on AIM
Strategic Minerals AIM:SML the large scale processor of the magnetite bearing Cobre Stockpiles, located in New Mexico USA, edge closer to the commencement of mass tonnage shipment. With AIM mining stocks bearing the brunt of a negative market sentiment, there remain a few shining star stocks that offer shareholders some real earning and share performance upside. SML is one we pick out, principally because as Q4 approaches, Strategic are set to unveil an Olympic set of earning results courtesy of the fact they will be shipping up to 70,000 tonnes per month of magnetite under the terms of an offtake deal with Glencore. With investor appetite to fund exploration stage miners, SML are set to shine out as a transformation stock in 2013.
Keep an eye out for the guys!!!!
Keep an eye out for the guys!!!!
Monday, 30 July 2012
Atlantic Coal AIM:ATC Olympic Production Performance Q2 2012
Atlantic Coal AIM:ATC, Q2 2012 production figures from their Stockton Anthracite Colliery USA, demonstrate clearly that ATC's management has been consistent in their assessment of Stockton's performance capability. Having suffered years of difficult mining conditions, ATC are now free of the railroad ingress, that caused so much to hinder the stripping and mining at Stockton.
With Stockton and ATC, "Now on Track" these latest production figures affirm the fact ATC is set to enter an unprecedented period of profitability.
See Below
Atlantic Coal plc ("Atlantic" or the "Company")
Quarterly Production Update
Atlantic Coal plc, the AIM-listed opencast coal production and processing company with activities in Pennsylvania, USA, is pleased to announce a positive production update from the Stockton Colliery ("Stockton"), its opencast anthracite operation, for the three months ended 30 June 2012.
Highlights
· 18.8% increase in clean coal production compared to Q1 2012 due to successful diversion of Norfolk Southern Railroad
· 57.7% increase in removal of bank cubic yards and 3% increase in run-of-mine coal washed
· Average sales price realised was US$166.85 due to continued strong demand for high quality anthracite
· The Board anticipates production to increase further and is targeting production of more than 155,000 tons for 2012
Atlantic Managing Director Steve Best said, "The successful diversion of the railroad in April has transformed our production profile at Stockton, and I am pleased to report that this is reflected in our increased quarter on quarter results. I am confident that this production increase will accelerate further over the coming months as we focus our attention on reserves contained within the prime Mammoth Seam. The Company equalled its total 2011 ROM production of 208,730 tons in July 2012.
"Additionally, it is important to note that, unlike recent trends in the thermal coal sector, we continue to experience solid demand for our high quality product. This creates a positive pricing environment in which to implement our growth strategy to consolidate our position in the productive Pennsylvanian anthracite field."
Detailed Information
Production increased 18.8% to 37,686 tons of clean coal during Q2 2012 compared to output achieved in the previous quarter (Q1 2012: 31,729 tons). During the period, Atlantic removed 1,128,981 bank cubic yards ("BCY") of overburden (Q1 2012: 715,691 BCY). 88,762 tons of run-of-mine ("ROM") coal were washed (Q1 2012: 85,911 tons). Demand for Stockton's high quality anthracite remains strong and, in line with this, the Company achieved an average sales price of US$166.85 for its Pennsylvanian anthracite (Q1 2012: US$166.30), excluding by-product #5.
The successful completion of the Norfolk Southern Railroad diversion in April 2012 has enabled Atlantic to access approximately 1.0 million tons of previously unworkable reserves and to achieve improved efficiency. The Company is confident that production will continue to increase incrementally during the remainder of 2012 and is targeting clean coal production of more than 155,000 tons for the year to 31 December 2012. This target is in line with an independent mining report produced by Mine Engineers Inc, which predicted that production of 160,000 tons of clean coal is achievable for the year.
Q2 2012 Production Summary:
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