Wednesday 29 February 2012

OncoSec Medical featured in Medical Device & Diagnostic Industry mag

OncoSec Medical (OTC:ONCS) has been featured in the magazine Medical Device & Diagnostic Industry, the company said Wednesday.
The biomedical company, founded in 2011, develops advance-stage ElectroOncology anti-cancer therapies to treat people with solid tumours.
The March article titled “OncoSec Could Revolutionize Oncology Therapy” details the company’s promising OMS ElectroOncology treatment platform. The article can be accessed here: http://www.mddionline.com/article/oncoSec-could-revolutionize-oncology-therapy
The magazine noted OncoSec’s on-going Phase II clinical studies in metastatic melanoma and Merkel cell carcinoma, a rare and aggressive cancer.
The article also notes the company’s upcoming milestones for this year.
The magazine is published monthly and written expressly for original equipment manufacturers of medical devices and in vitro diagnostic products.
It has a circulation of about 50,500, and its goal is to aide industry professionals in the design, and development of medical products that comply with regulations and market requirements.
On Tuesday, OncoSec announced that it dosed its first patient in a Phase II clinical trial testing its OMS ElectroImmunotherapy treatment on advanced-stage metastatic melanoma patients.
The dosing comes as the University of California San Francisco (UCSF) received approval from the Investigational Review Board for the trial. UCSF investigators are currently recruiting for this clinical trial.
OncoSec uses its electroporation delivery system which applies cell membrane stimulation to deliver immunotherapy or chemotherapy to treat a range of cancerous tumour types.
The OMS electroporation system has proven to enhance cellular uptake, effectively treating cancerous cells while sparing surrounding healthy tissue – cutting through the toxic side effects of current available treatment options like chemotherapy and radiation.
In 2011, the company managed to outline a clinical development plan for its local and potentially systemic ElectroImmunotherapy program, which uses the OncoSec Medical System (OMS) to deliver a DNA-based immunotherapy, known as DNA IL-12, designed to induce a local immune response against the treated cancerous tumor, while exploiting this response to initiate a global systemic response against untreated tumors in other areas of the body.
For the metastatic melanoma trial, a total of up to 25 patients with stage three or four cutaneous and in-transit metastatic melanoma will be enrolled in the phase two, single-arm, open-label and multi-centre study.

ImmunoCellular Therapeutics licenses mesothelin cancer antigen from Johns Hopkins

ImmunoCellular Therapeutics (OTCBB:IMUC) Wednesday entered into an agreement with Johns Hopkins University which sees the college grant an exclusive, worldwide license to intellectual property surrounding the tumor-associated antigen mesothelin.
The terms of the agreement were not disclosed.
Antigens are substances that cause the immune system to produce antibodies against it. Mesothelin is highly expressed in pancreatic cancer, ovarian cancer and mesothelioma.
The company will employ this intellectual property in the development and commercialization of ICT-140, a multivalent, dendritic cell-based vaccine for the treatment of ovarian cancer, one of multiple tumor types in which mesothelin is over-expressed.
Shares of ImmunoCellular advanced 3.9 percent Wednesday, to $2.12 in early afternoon trading.
ICT-140 is designed to target cancer stem cells as well as daughter cells in ovarian cancer by targeting multiple different antigens including mesothelin, Her-2/neu, IL-13Rα2 and several other undisclosed antigens.
ImmunoCellular president and CEO Manish Singh said: "As we continue the development of a novel, dendritic cell-based vaccine for the treatment of ovarian cancer, this licensing agreement for mesothelin technology will allow us to ensure that we have the critical components for a successful vaccine.
"We look forward to the ongoing support of Dr. Jaffee and her colleagues at Johns Hopkins as we develop the vaccine. We expect to file an Investigative New Drug application for the vaccine in the fourth quarter of this year."
ImmunoCellular Therapeutics is a Los Angeles-based clinical-stage company that is developing immune-based therapies for the treatment of brain and other cancers.
It recently started a phase II trial of its lead product candidate, ICT-107, a dendritic cell-based vaccine targeting multiple tumor associated antigens for glioblastoma.
Earlier this month the company received a "notice of allowance" from the U.S. Patent and Trademark office for its patent relating to the targeting of cancer stem cells in the treatment of patients with glioblastoma, an aggressive form of brain cancer.
The patent, called “Cancer Stem Cell Antigen Vaccines and Methods”, covers various methods of using dendritic cells combined with antigens derived from glioblastoma cancer stem cells.

Rubicon Minerals closes $200.9 mln bought deal financing

Rubicon Minerals Corp. (TSE:RMX) said Wednesday it has closed a $200.9 million bought deal equity financing, the bulk of which will go toward advancing its Phoenix Gold project.
The gold explorer sold 49 million common shares for $4.10 each. GMP Securities and TD Securities were co-lead underwriters.
The underwriting syndicate also included UBS Securities Canada, Mackie Research Capital Corp., Scotia Capital and NCP Northland Capital Partners.
Rubicon said it plans to use the proceeds to advance the development of its Phoenix Gold project, as well as for working capital and general corporate purposes.
Rubicon controls over 100 square miles of exploration ground in the prolific Red Lake gold district of Ontario, which hosts Goldcorp's (TSE:G) high-grade Red Lake Mine.
Last June, the company received results from a preliminary economic assessment on its F2 Gold System, part of the Phoenix project, that indicated cash costs as low as US$214 per tonne of processed material.
The report, prepared by AMC Mining Consultants, estimated the F2 System will produce 180,000 ounces of gold per year in the base case scenario over a life of 12 years, with production rates of 1,250 tonnes per day.
This, according to the study, would yield a net present value of $433 million, at a five percent discount rate, and a pre-tax 28 percent internal rate of return, with a payback period of 3.3 years from the start of production.
These base case results were calculated using a gold price of $1,100 per ounce, the company said, and increase when using a higher, spot gold price.

AMI Research says Pressure BioSciences "poised for growth", starts coverage with "buy" rating

Independent equity research firm AMI Research Wednesday initiated coverage on Pressure BioSciences (NASDAQ:PBIO) with a "buy" rating  and $5.22 price target.
In a research report, AMI's director of research Peter D'Agostino said: "At this time, we urge investors to view PBIO as a revenue  growth story and as a buy and hold stock."
Pressure BioSciences is a life science, medical device company that develops and commercializes pressure cycling technology-based  instruments and consumables.
The PCT platform technology instrumentation cycles pressure between ambient and ultra-high levels (up to 35k psi) at controlled temperatures to control the interactions of biomolecules. PBIO's technology is also used for genomic, proteomic and small molecule sample preparation as well.
The applications of the company's PCT-based products are endless - from the key $2 billion target market of mass spectrometry, an analytical technique used to determine the characteristics of molecules, to biomarker discovery, forensics and counter-bioterrorism, among other uses.
Florida International University (FIU) was awarded in late January a near $350,000 grant to improve rape case DNA testing using the company's own PCT platform. The company's goal, with the help of the FIU grant, is the continued development of a faster and more accurate method of processing DNA evidence for rape prosecutions. With Pressure BioSciences' PCT System, there is no need to remove female cells prior to analysis.
The company's Barocycler product has even appeared in an episode of hit TV show "CSI:New York" in 2011.
In the report, AMI's D'Agostino said: "PBIO is poised for growth as it begins an aggressive commercialization initiative in 2012."
D'Agostino said that this commercialization will be a highlight to PBIOʼs story for the next couple of years and AMI expects that  momentum will be built.
"We are impressed with managementʼs plan to implement a restructured sales force, significantly expand its distributor base and form  strategic agreements with larger partners, while still rolling out new products in 2012 and 2013," D'Agostino said.
"As far we know, PBIO is the only company with PCT technology and available products."
AMI's D'Agostino was confident that as the company continues its commercialization, it will gain significant medical acceptance,  allowing PBIO to grow market share.
For 2012, AMI projects product revenue growth of nearly 33 percent to $1.0 million and expects total revenue to increase nearly 54  percent to $1.5 million.
The independent research firm expects revenues to strengthen in the second half of the year as PBIOʼs newly structured sales team  begins to gain traction and additional distributor agreements are signed and new and recent products gain momentum.
In terms of future catalysts, D'Agostino sees aggressive product commercialization as PBIOʼs largest growth catalyst.
"A highlight to the PBIO story is its anticipated large-scale commercialization effort. We expect the company to now be focused on  three areas in its commercialization effort; sales, distribution and strategic partners," he said.
PBIO currently has distribution agreements in Japan and Korea and recently partnered with a leading life sciences European  distributor for coverage in Germany and Switzerland. The company expects to significantly increase the number of foreign distributors, which will be essential for its anticipated growth.
A strong product pipeline will boost PBIOʼs commercialization process, AMI said. PBIO closed an $800,000 private placement financing earlier this month.
"PBIO has successfully launched new products and is gearing them for mass commercialization. In 2012, PBIO is scheduled to launch  its FFPE system and in 2013 the company is expected to roll-out its PCT-based HT and Xstream PCT instruments."
The new offerings will enhance PBIOʼs solid portfolio of products and aid in the increased acceptance and recognition of PCT in the  medical community, AMI's D'Agostino added.

NeoStem's "market outperform" reiterated by JMP Securities, Baxter trial validates technology

JMP Securities reiterated its market outperform rating and $3 price target for NeoStem (AMEX:NBS) on Tuesday, after Baxter International (NYSE:BAX) named the stem cell company's Progenitor Cell Therapy unit (PCT) as the contract manufacturer for a phase three stem cell trial.
Tuesday, Baxter started a phase three, 450 patient pivotal clinical trial to evaluate the efficacy and safety of an individual's own CD34+ stem cells to increase exercise capacity in patients with chronic myocardial ischemia (CMI), a coronary artery disease.
CMI is one of the most severe forms of coronary artery disease, causing significant long-term damage to the heart muscle and disability to the patient. It is often diagnosed based on symptoms of severe, refractory angina, which is severe chest discomfort that does not respond to conventional medical management or surgical interventions.
JMP's analyst, Jason N. Butler, said: "In our view, Baxter's continued commitment to develop CD34+ cells in cardiac indications provides external validation of the scientific and mechanistic rationale for NeoStem's CD34+/CXCR4+ candidate therapeutic, AMR-001.
"Furthermore, Baxter announced that NeoStem's PCT division will be the contract manufacturer for the Phase III product, representing approximately $5-10MM in revenue, in our view.
"Our $3 price target is derived through a sum-of-the-parts analysis including AMR-001, manufacturing service revenue from PCT, and sales from the company's Chinese pharmaceutical division Suzhou Erye."
Speaking to Proactive Investors, NeoStem chief executive Robin Smith said: "It's really exciting. As our clients progress in phases, revenue goes up dramatically."
In terms of the trial's financial impact, Smith said: "With the addition of Progenitor Cell Therapy (PCT) in January of 2011, our revenues have diversified with over 10 percent attributable to PCT.
"As the cell therapy industry progresses and our clients accelerate through the clinical trial pathways these revenues will rapidly grow."
Smith added: "We are very excited to see the results of the phase III data when published as the phase II trial provided evidence that leveraging the body's own natural repair mechanisms can improve exercise capacity and reduce chest pain."
JMP said in the report that Baxter's trial could also validate NeoStem's AMR-001, which is an autologous cell therapy designed to prevent heart tissue damage and further major adverse cardiac events following a heart attack.
The treament consists of a patient's own bone marrow cells, which are processed to create pharmaceutical-grade cells that are then re-injected through coronary arteries into damaged areas of the heart, 5 to 11 days after a patient experiences a heart attack.
The therapy is different than Baxter's in that the cells NeoStem uses are not injected directly into the heart muscle. These cells are infused into the infarct-related artery and mobilize to the area of injury where they are needed.
NeoStem is an international biopharmaceutical company with adult stem cell operations in the US, a network of adult stem cell therapeutic providers in China as well as a 51 percent ownership interest in a profitable Chinese generic pharmaceutical manufacturing company.
The company is focused on accelerating the development of proprietary cellular therapies and becoming a single source for collection, storage, manufacturing, therapeutic development and transportation of cells for cell-based medicine and regenerative science globally.
NeoStem is currently changing hands at 58 cents on Wednesday afternoon.

Goldrush intersects 6.92 g/t gold over 8.9 metres at Ronguen Gold Deposit, Burkina Faso

Goldrush Resources (CVE:GOD)(OTCQX:GDRRF) late Tuesday reported assay results from six of 18 core holes drilled as part of a 10,140-metre fill-in program on the company's Ronguen Gold Deposit in Burkina Faso, West Africa.
Among the highlights of the drilling results, in hole KGRC11-036, the company encountered 6.92 grams per tonne (g/t) gold over 8.9 metres, including 12.8 g/t gold over 1.2 metres and 16.3 g/t gold over 1.0 metre; hole KGRC11-041 found 1.90 g/t gold over 12.9 metres and hole KGRC11-040 returned 1.30 g/t gold over 14.2 metres, including 1.99 g/t gold over 7.5 metres and 1.12 g/t gold over 6.2 metres.
The Ronguen Gold Deposit is located on the Kongoussi 1 and Tikare permits, which are located only six kilometres northwest of the High River Gold Mines (TSE:HRG) Bissa Deposit.
Goldrush president and CEO, Len Brownlie, said: "We are very excited by the discovery of a new style of high grade gold mineralization at Ronguen.
"The utility of the new geophysical model as a tool to help direct future exploration at Ronguen has been enhanced by its strong correlation with recent favourable drilling results, including the most recent high grade assays noted in hole -036.
"On a recent site visit, we observed successful artisanal mining activity at the hill site two kilometres east of the collar of hole -036 on the newly interpreted strike extension of the South Zone. A program to test this extension will begin in early March as we continue exploration of this very promising gold deposit."
Core hole KGRC11-036 was drilled on line 530E of the South Zone, an interpreted parallel shear zone/thrust fault in the hanging wall of the Main Zone at the Ronguen deposit.
Hole KGRC11-036 is the most southerly and deepest hole drilled on the South Zone and was designed to test the down dip potential of the lower grade gold mineralization encountered in reverse circulation hole KGRR-130 (3.62 g/t gold over 6 metres at a depth of 40.1 metres) and hole KGRR-152 (1.70 g/t gold over 7 metres at a depth of 32.4 metres).
Partial assays from hole -036 have led to the high grade intersection at a vertical depth of 59.6 metres. The gold intercept in hole -036 is open up-hole and Goldrush is awaiting assay results from this portion of the core, it said.
Gold mineralization in hole -036 represents a style of mineralization that had not been recognized at Ronguen, Goldrush said, and is therefore an attractive target for follow-up drilling.
A recent three dimensional modelling of existing data covering the eastern part of the Ronguen gold deposit has revealed four parallel, easterly striking high resistivity anomalies to a depth of 300 metres.
The two central resistivity high bodies are coincident with the gold mineralization found in the Ronguen Main and South zones, while the northern structure has not been drill tested. If further work confirms that the most northern structure is mineralized, then it would present an important new target for exploration at the Ronguen deposit, the company said.
Goldrush is a Canadian mineral exploration company focused on gold exploration in West Africa, where the company has discovered, and is currently expanding and defining the 249,000-ounce Ronguen gold deposit in Burkina Faso.

Corvus Gold hits wide zones of gold in step out drilling program at North Bullfrog

Corvus Gold (TSE:KOR)(OTCQX:CORVF) unveiled Wednesday the results of a phase one resource expansion drilling program at its North Bullfrog project near Beatty, Nevada, following on the heels of a positive preliminary economic assessment (PEA) for the property yesterday.
The company said that seven of the nine holes drilled to test the expansion potential of the defined Sierra Blanca and Jolly Jane deposits have returned "encouraging results".
In the Sierra Blanca area, hole NB-12-118 intercepted 46 metres of 0.56 grams per tonne (g/t) gold, 250 metres north with a similar intercept 400 metres north in hole NB-12-119.
These holes, together with hole NB-12-117, drilled 400 metres to the west of Sierra Blanca, suggest significant resource expansion potential exists to the north and west of the current Sierra Blanca deposit with "markedly higher grades", the company said.
Notable intercepts were also returned from holes NB-12-124 and 125, which targeted the north-eastern extension of mineralization toward the Jolly Jane deposit.
Hole NB-12-124 returned 39.6 metres of 0.24 g/t gold and 0.50 g/t silver, including 13.7 metres of 0.50 g/t gold and 0.60 g/t silver, while hole NB-12-125 hit 54.9 metres of 0.21 g/t gold and 0.64 g/t silver, including 13.7 metres of 0.38 g/t gold and 1.10 g/t silver.
These results from the 2012 phase one step out drill program were not included in the initial PEA for the project, which was announced Tuesday.
The PEA produced a robust positive economic analysis for a conceptual, low capex, heap leach project that generates an average annual gold production of 57,700 ounces over 12.8 years, indicating a pre-tax, pre-royalty net present value of $118.3 million and an internal rate of return of 28.8 percent at a $1,300 per ounce gold price and a five percent discount rate.
Total initial capital expenditure is seen at $68.8 million with a 2.6-year payback period for the project, which has a large in-pit resource  of 1.1 million ounces contained and 747,000 ounces of recoverable gold.
"The thick and higher grade intersections returned in this initial step-out drilling are encouraging for Corvus and strongly support our goal of doubling the existing estimated resource by year end," said CEO Jeff Pontius.
"On the heels of our PEA released yesterday these results bode well for an enhanced project size and potentially improved financial performance in the future.
"It is exciting that some of our best holes have been drilled to the north and west of the existing deposits, under large expanses of shallow cover which could contain significant new deposit potential."
Indeed, the 2012 phase one program also returned results from the Jolly Jane target, where two holes were drilled. One hole 200 metres to the north and another 400 metres to the north returned broad intercepts, said the company, including hole NB-12-123. The 400 metre step out hole intersected 138.7 metres of 0.27 g/t gold, including 32 metres of 0.50 g/t gold.
"The intensity of the alteration and mineralization in this northern-most hole suggests the system is expanding in size and grade in this direction," Corvus said in a statement Wednesday.
The main focus of the drilling program has been to test the overall resource footprint size to improve the design of a 30,000 metre phase 2 drill campaign, which is currently being permitted and scheduled to begin later this year.
Corvus said that the results from Jolly Jane and Sierra Blanca in phase one show that the resource footprint is considerably larger than previously defined. Further step out and infill drilling will therefore be a priority in phase two, the company added.
The two holes drilled on southern step-outs in Sierra Blanca along the Savage Valley found only anomalous gold, with additional work still required to assess if the mineralization continues to the south beyond the company's existing drill pattern.
Pontius continued: "We are also looking forward to results from our diamond core drilling program into the high-grade Yellowjacket feeder system that could hold significant potential.
"The company is focused on rapidly advancing the project down the path to a potential production decision."
Turning attention to the phase one diamond drilling program, three holes have been completed into the Yellowjacket feeder system to date and at least two more are planned. The Yellowjacket target is in the northern part of the district and has returned results like 11.9 g/t gold over 6.1 metres in earlier drilling.
The company said it expects initial results from this drilling in the next few weeks.
In addition, large diameter core will be drilled in the key deposits of the project allowing additional metallurgical testing for use in a project development decision planned for later this year.
Corvus has increased its overall land holding at the North Bullfrog Project to 43 square kilometres by staking 297 federal unpatented mining claims. The new staking covers potential extensions of the North Bullfrog gold system, as well as ground that may be needed for any potential future mining operations.
The company controls 100 percent of the property, which is adjacent to a major highway and power corridor.
North Bullfrog currently includes numerous prospective gold targets with four - Mayflower, Sierra Blanca, Jolly Jane and Connection  - containing an NI 43-101 compliant estimated indicated resource of 24 million tonnes at an average grade of 0.29 grams per tonne (g/t) gold for 224,400 ounces of gold.
These same four targets hold an additional inferred resource of 468 million tonnes at 0.19 g/t gold for 2,835,000 ounces of gold  (both at a 0.1 g/t cutoff), with appreciable silver credits.
The PEA envisages average production of 70,000 ounces of gold per year over the first three years, with total cash operating costs of $815 per ounce gold with an average of $673 per ounce gold over the first three years.

Copper Fox provides Schaft Creek update

Copper Fox Metals (CVE:CUU) released an update Tuesday on its current activities, reminding investors of the feasibility study it expects to complete by the end of March.
The company said its 2011 program on the Schaft Creek deposit in British Columbia demonstrated the property's potential to host a number of porphyry-style copper-gold-silver-molybdenum deposits.
Significant copper-gold-silver-molybdenum mineralization, located 1,200 metres north of the Paramount Zone and associated with a large Titan-24 chargeability anomaly, and in a geotechnical hole some 300 metres east of Paramount in an interpreted 'leakage' zone, supports this potential, Copper Fox said.
The feasibility study for the property is being completed by Tetra Tech WEI - expected by the end of March 2012.
During the fourth quarter, Copper Fox also completed a 38.8-kilometre Titan-24 DCIP& MT survey over an area extending from the north end of the Paramount zone to the ES zone, three kilometres away, and along an 800 metre-long portion of the GK zone.
The survey located large chargeability anomalies on the Mike, ES, and GK zones, and has extended the chargeability signature of the Paramount zone to the north along the mineralized corridor referred to as the Schaft Creek Mineral Trend, Copper Fox said.
The company also completed 22 diamond drill holes, totaling 9,662.3 metres, at the property during the fourth quarter.
Four rigs worked to complete the drill program, which located a new zone of copper mineralization that correlates with a chargeability anomaly located 1,200 metres north of the Paramount zone.
Hole CF415-2011, located 280 metres north of the previous drilling at Paramount, intersected 67 metres grading 1.1 percent copper.
Copper Fox holds title and a 100 percent working interest in a 21,024.96 hectare property that includes the Schaft Creek deposit, subject to a 3.5 percent Net Profits Interest held by Royal Gold, a 30 percent carried Net Proceed Interest held by Liard and an earn back option held by Teck Resources (TSE:TCK.B).
The company is currently earning a 78 percent interest in Liard from Teck. Teck's earn back option to acquire 20 percent, 40 percent or 75 percent of the Copper Fox interest in the Schaft Creek project is triggered upon the completion of a positive feasibility study.
During 2011, Copper Fox raised a total of $18.7 million, including over $15 million in private placements, $1.1 million from the exercise of 2.24 million options, and $2.6 million from the exercise of 1.8 million warrants.
Additionally, a director of the company loaned $3.9 million to Copper Fox. The loan is unsecured, bears no interest, and there are no fixed terms of repayment, it said.

Rare Element hits 176.8 metres at 1.21 g/t gold at Sundance

Rare Element Resources (TSE:RES) (AMEX:REE) said late Monday it intersected the best assay results to date at its Sundance gold project in Wyoming.
Hole SUN-116, drilled on the Smith gold target, intersected 1.21 grams per tonne (g/t) gold over 176.8 metres, including 4.5 g/t gold over 24.4 metres.
Meanwhile, hole SUN-117, collared to the west of SUN-116, intersected 12.2 metres at 1.35 g/t gold, while SUN-118 hit 12.2 metres at 1.24 g/t gold.
Rare Element said these results are beginning to define a new target area adjacent to the main Smith deposit, where the mineralization extends from the surface to a depth of 300 metres, remaining open.
Exploration manager, John T. Ray, said: "SUN-116 located at the Smith target area has the highest gold grades and thickest interval of plus 1 g/t Au ever reported for the entire district and is open in two directions.
"We are excited about the discovery of this new prospect and anticipate determining the size and orientation of its high-grade nucleus."
Meanwhile, the mineralization at the Taylor gold target extends from surface to a depth of about 400 metres.
Hole RES11-31 intersected 71.3 metres grading 0.77 g/t gold, while RES11-32 hit 0.55 g/t gold over 70.7 metres, and RES11-33 intersected 0.49 g/t gold over 49.7 metres.
"Most of the holes in the East Taylor area have significant near-surface intercepts of +1 g/t Au," continued Ray.
"Our goal of the 2011 drilling to find areas of higher grade gold mineralization was achieved. Over the next few years, additional drilling will be needed to determine the extent of this mineralization."
These results are from the company's 2011 drill campaign at the Sundance project, which saw the completion of 34 reverse circulation (RC) drill holes and two core drill holes, totaling 6,989 metres.
Separately, the company also reported Monday 2011 results from Section 16, which is located east of Rare Element's Bull Hill project. Section 16 is under consideration for a stockpile and waste facility for the proposed rare earth element (REE) mine.
Rare Element drilled 15 RC holes on Section 16 during 2011, totaling 2,296 metres, in order to assess the REE and gold mineralization potential. The results from four holes on the west side of the section suggested minimal exploration potential, the company said, with hole SUN-093 returning 0.46 g/t gold over 7.6 metres.

Clifton Star files updated NI 43-101 compliant technical report for Donchester property

Clifton Star Resources (CVE:CFO) said Tuesday it has filed an updated NI 43-101 technical compliant report on SEDAR for tis Donchester property, part of the company's Duparquet project in Quebec.
The report, prepared by James S. Steel of Mining Insights, comes after a previous technical report on Donchester from June 2011 was deemed by the British Columbia Securities Commission (BCSC) to be non-compliant with the requirements of NI 43-101, prompting a cease trade order.
The company said Tuesday it has filed an application with the executive director of the BCSC to have the cease trade order revoked and expects a response in due course.
The current NI 43-101 compliant inferred resource on the Donchester portion of the Duparquet project consists of 11.01 million tonnes with an average grade of 3.06 grams of gold per tonne for 1.05 million contained gold ounces, at a cut-off grade of 1.5 grams of gold per tonne, and using a topcut of 8.0 grams.
Clifton Star said the report recommends "extensive further work" on the property including in‐fill drilling and exploration drilling, both on sections with existing drill holes and between sections. Trenching is also recommended, it added.
Meanwhile, the Beattie area of the Duparquet project is currently estimated to contain 1.72 million inferred gold ounces, while the Duquesne area is projected to hold 0.2 million indicated ounces, and 0.28 million inferred ounces.
In October 2011, the company filed a "Material Change Report" as well as two other NI 43-101 reports dealing with the Beattie portion of the Duparquet project and the Duquesne property.
Clifton said it retained the services of InnovExplo, a geological and mining consulting firm, to prepare an NI 43-101 technical report on the Beattie, Donchester, Dumico, Central Duparquet, and the Beattie Tailings portions of the Duparquet project, and expects to receive this report in April this year.
Since re-assuming control of the Duparquet project last June from Osisko (TSE:OSK), the the company has been actively drilling at the property, with 85 holes for 26,754 metres completed in 2011, as well as metallurgical testing.
Most of these holes were drilled on the Beattie and Donchester properties to increase the continuity of the zones and to extend previous holes that had ended in mineralization.
Results from the on-going drilling campaign should be available shortly, Clifton said, with metallurgical testing results to be released in due course.
These results, as well as all previous drilling assays, are being used to prepare the NI 43-101 technical report for the project due in April, which will form the basis of a preliminary economic assessment.
Clifton said last month that it will continue exploration in 2012 with the aim of expanding resources and identifying new targets. In the first half of 2012, the company plans to spend roughly $2 million on exploration, with most allocated for 15,000 metres of drilling.
The primary focus of this exploration program will be to test the extension of the mineralized zones to depth on the properties.
Clifton, which has around $14 million in cash and term deposits, also said Tuesday it has hired a new CEO, Michel F. Bouchard.
Bouchard has more than 30 years of experience in exploration and mine development in Quebec.
In addition, M. Louis C. Martin has been appointed VP of exploration.

REBgold shares spike on confirmation of high-grade mineralization

REBgold (CVE:RBG) said Tuesday it intersected 9.6 metres grading 10.0 grams per tonne (g/t) gold on its joint venture Osikonmäki gold project, located on the Rantasalmi property in Finland.
The company confirmed the high-grade gold mineralization there, and sending it stock skyrocketing.

On the TSX-Venture, shares of the Toronto-based REBgold spiked 55.56 percent to $0.07 per share, as of 2:35 pm EDT.

Significant results from the drill program include hole BELOSI-78, which intersected 55.46 metres grading 2.85 g/t gold, including 19.86 metres at 6.32 g/t gold, which included 9.6 metres at 10.01 g/t gold.

This particular hole has delineated the main shear and upper zone for over 80 metres of strike to date. The mineralization is east-west trending, and continued to the 101.5-metre depth of the hole.

REBgold Chairman Mark Burridge said: "The first drillhole of the 2012 drilling campaign has generated very positive results.

"It confirms the width and tenor of the previous holes drilled in the area and, importantly, intersected a large lower grade area below high grade shear, opening up the potential for a lower grade bulk tonnage target in the hanging wall of the main shear, improving the potential economics of potential future mining.

"The presence of copper also highlighted the possibility for developing minor by- product credits.

"Drilling continues to expand the extent of mineralization and assays are pending from additional holes drilled recently."

The company begun this 2012 resource expansion drill campaign at Rantasalmi late last month, intending to test the extents of the current boundaries of the resource envelope defined in the 2011 drilling.

Specifically, drilling targeted along strike and down dip extensions of the Osikonmaki East mineralization, including the high grade shallow mineralization discovered in the 2011 drilling campaign.

Under the joint venture entered in March last year with Belvedere Resources (CVE:BEL), REBgold can earn 50 percent of the Rantasalmi and Kiimala projects in Finland, in return for spending $6 million in exploration and development over four years.

If it continues with a feasibility study for the property, REBgold will boost its stake to between 55 percent and 75 percent, and if its bioleaching technology can lead to a material improvement in the project economics, the company can earn another five percent stake.

Currently, the Osikonmäki East prospect has an indicated resource estimate of 1.3 million tonnes grading 1.7 g/t gold, for 68,000 contained ounces of the yellow metal, and an inferred resource estimate of 3.5 million tonnes grading 2.09 g/t gold, for 244,000 ounces of contained gold.

In other news, REBgold announced earlier this month that it closed a private placement it announced early November 2011, and raised $1 million before expenses. It said it plans to use the money to expand the drill program at the Rantasalmi project, where there are numerous targets along strike and down dip from existing resources and other areas of identified mineralization, and for general working capital.

REBgold had issued a total of 20 million units at a price of 5 cents apiece.

Each unit consists of one common share and one non-transferable share purchase warrant which entitles the holder to buy a common share for 10 cents 0.10 per share. The warrants expire on November 10, 2016.

NeoStem's PCT unit named manufacturer in Baxter phase III stem cell trial

Unique cell therapy company NeoStem's (AMEX:NBS) Progenitor Cell Therapy (PCT) unit Tuesday was named as the contract manufacturer for a Baxter International (NYSE:BAX) Phase III stem cell trial.

Baxter Tuesday started a phase III pivotal clinical trial to evaluate the efficacy and safety of an individual's own CD34+ stem cells to increase exercise capacity in patients with chronic myocardial ischemia (CMI), a coronary artery disease.

CMI is one of the most severe forms of coronary artery disease, causing significant long-term damage to the heart muscle and disability to the patient. It is often diagnosed based on symptoms of severe, refractory angina, which is severe chest discomfort that does not respond to conventional medical management or surgical interventions.
Speaking to Proactive Investors, NeoStem chief executive Robin Smith said: "It's really exciting. As our clients progress in phases, revenue goes up dramatically."

In terms of the trial's financial impact, Smith said: "With the addition of Progenitor Cell Therapy (PCT) in January of 2011, our revenues have diversified with over 10 percent attributable to PCT. 

"As the cell therapy industry progresses and our clients accelerate through the clinical trial pathways these revenues will rapidly grow."

Cell therapy is typically more expensive, requiring thousands of dollars to manufacture an individual cell therapy. Baxter has announced 450 patients for its trial.

It may take the pharmaceutical giant a few years to enroll all of these patients. The primary endpoint measured at the 12 month follow up is a patient's total exercise capacity.

Smith added: "We are very excited to see the results of the phase III data when published as the phase II trial provided evidence that leveraging the body's own natural repair mechanisms can improve exercise capacity and reduce chest pain." 

Baxter is taking a slightly different approach in its CMI therapy, opting to inject cells directly into the heart.

"NeoStem's AMR-01 therapy is different in that the cells they use are not injected into the heart muscle. These cells are infused into the infarct-related artery and mobilize to the area of injury where they are needed," Smith said.

NeoStem has both methods and composition of matter patents and recently announced the expansion of their patent portfolio.

Amorcyte has issued U.S. patents that broadly cover the use of stem cells for the treatment of vascular injury caused by vascular insufficiency. The company believes these patents cover any commercially viable use of stem cells for the repair of vascular injury resulting from any ischemic event, including, for example, acute myocardial infarction (AMI).

Amorcyte's U.S. Patent No. 7,794,705 covers a cell-based therapy to repair damage from a heart attack resulting from underlying diseases in patients who have undergone a surgical procedure to restore blood supply to the heart accomplished by using a composition that contains a therapeutically effective amount of a chemotactic hematopoietic stem cell product; the product includes a cellular component containing a population of autologous mononuclear cells from any source enriched for CD34 cells, where the CD34 cells contain a subpopulation of biologically active CD34+/CXCR-4+ cells that, when delivered by catheter whenever needed, can migrate in a directed fashion to areas of ischemic damage and effect repair, and a serum component that maintains the biological activity of these motile cells and enables commercial processing of the cells.

U.S. Patent 8,088,370 covers a cell-based therapy to repair damage from any vascular injury caused by vascular insufficiency accomplished by using a composition that contains a therapeutically effective amount of a chemotactic hematopoietic stem cell product; the product includes a cellular component containing a population of autologous mononuclear cells from any source enriched for CD34 cells, where the CD34 cells contain a subpopulation of biologically active CD34+/CXCR-4+ cells that, when delivered by catheter whenever needed, can migrate in a directed fashion to areas of ischemic damage and effect repair, and a serum component that maintains the biological activity of these motile cells and enables commercial processing of the cells.
Stem cell processing for Baxter's trial will be conducted in Good Manufacturing Practice (GMP) facilities in the US by PCT.

With over 12 years of experience, PCT is an industry leader in contract development and manufacturing of cell therapy products.

PCT is the only contract development and manufacturing organization to see its client's cell therapy product receive marketing approval from the FDA.

NeoStem is an international biopharmaceutical company with adult stem cell operations in the US, a network of adult stem cell therapeutic providers in China as well as a 51 percent ownership interest in a profitable Chinese generic pharmaceutical manufacturing company.

The company is focused on accelerating the development of proprietary cellular therapies and becoming a single source for
collection, storage, manufacturing, therapeutic development and transportation of cells for cell-based medicine and regenerative science globally.

Temex Resources files 50% larger estimate for Juby Main Zone

Temex Resources Corp. (CVE:TME) said Tuesday it filed an updated mineral estimate for its Juby Main Zone in the Shining Tree area of eastern Ontario, which is 50 percent larger than the company's prior estimate from June 2010.

The report, conducted by Ottawa-based consulting firm GeoVector, outlines an indicated resource of 934,645 ounces of gold grading 1.30 grams per tonne (g/t) at a 0.40 g/t cut-off on the Juby Main Zone, and an inferred resource of 905,621 ounces gold grading 1.00 g/t at the same cut-off.

The company said the deposit remains open for expansion at depth and along strike, with Temex set to begin drilling on the adjacent, newly-acquired Golden Lake property.

The latest resource includes diamond drill results from the company's 2010 and 2011 exploration campaigns at Juby.

"We are extremely pleased with the significant increase in gold resources which is an important step forward on the Juby Project," said president and CEO, Ian Campbell.

"Further, there is potential to rapidly increase the size of the deposit not only at depth, but along strike, based on our recent strategic acquisition of the Golden Lake Property announced January 18, 2012.

"This property has increased Temex's control to 4.5 km of strike length of the gold-enriched Tyrrell Structural Zone, host to the Juby Main Zone and has several similar style gold mineralized drill intercepts.

"We intend to conduct an aggressive drill program on both Golden Lake and Juby to expand our gold resources, while initiating metallurgical and environmental baseline work which will be incorporated into a preliminary economic assessment of the Main Zone."

The company said the increase to the resource reported in June 2010 is due to the incorporation of data from diamond drill holes completed by Temex during the 2010 to 2011 winter drill program and the utilization of a 0.40 g/t gold cut-off grade.

The prior 2010 indicated and inferred resources were reported at a cut-off grade of 0.50 g/t.

In June 2010, the company reported an NI 43-101-compliant indicated resource of 614,000 ounces gold grading 1.36 g/t at a  0.50 g/t cut-off, and an inferred resource of 602,000 ounces gold grading 1.14 g/t at a 0.50 g/t cut-off.

Temex said it is currently developing parameters for carrying out Whittle pit optimizations on the Juby resources as a precursor to conducting preliminary economic studies.

The Juby gold project itself is located west of Gowganda, Ontario, halfway between Timmins and Sudbury, in Tyrrell and Knight Townships. The company said excellent road access is provided to the project, which consists of three gold properties totalling 7,463 acres in 169 claim units.
The Juby joint venture property is owned 60 percent by Temex, with the remainder held by Goldeye Explorations Limited.

Inovio to present at two conferences in March

Inovio Pharmaceuticals (NYSE:INO) said Tuesday that management will give an overview of the company at two upcoming conferences next month.

Inovio Pharmaceuticals, formerly Inovio Biomedical Corp., develops DNA-based vaccines, to treat and prevent cancers and infectious diseases.

The Cowen 32nd Annual Health Care Conference is slated to take place between March 5 and 7 at the Boston Marriott Copley Place.

Inovio’s chief executive, Joseph Kim, is slated to make his presentation at the symposium on March 5, Monday, at 3:30 p.m. and will last 30 minutes.

Cowen’s symposium attracts top institutional investors and leading companies ranging from consumer retail, technology to health care and aerospace and defence.

The second conference hosted by Roth Capital Partners is scheduled to take place between March 11 and 14 in California, at The Ritz Carlton.

Chief financial officer, Peter Kies, will make his presentation at the Roth 24th Annual Conference on Wednesday, March 14 at 11:30 a.m. 

The Roth Capital event is designed to offer investors to gain insight into small and mid-cap companies across a number of sectors like: business services, cleantech, media and software.

A live and archived webcast of the presentation will be accessible on Inovio's website at http://www.inovio.com.

The company’s SynCon vaccines are designed to provide broad cross-strain protection against known and newly emergent unmatched strains of pathogens such as influenza.

These synthetic vaccines, in combination with Inovio's proprietary electroporation delivery, have been shown to generate positive immune responses, along with a favourable safety profile.

Inovio's clinical programs include phase II studies for cervical dysplasia, pre-cancerous lesions, leukemia and the hepatitis C virus, as well as phase I studies for influenza and HIV.

The company’s share price jumped 2.84 percent to 59.6 cents apiece in trade on the New York Stock Exchange.

Corvus Gold unveils "positive" PEA for North Bullfrog project

Corvus Gold (TSE:KOR)(OTCQX:CORVF) Tuesday unveiled an independently prepared Preliminary Economic Assessment (PEA) for its North  Bullfrog project in Nevada.
The PEA produced a robust positive economic analysis for a conceptual, low capex, heap leach project that generates an average annual gold production of 57,700 ounces over 12.8 years, indicating a pre-tax, pre-royalty net present value of $118.3 million and an internal rate of return of 28.8 percent at a $1,300 per ounce gold price and a five percent discount rate.
Corvus Gold, a resource exploration company, focused in Nevada, Alaska and Quebec, said that the PEA also shows the project has a considerable leverage to gold price, with a pre-tax, pre-royalty net present value of $338 million and an internal rate of return of  a whopping 70 percent at a $1,700 per ounce gold price.
Total initial capital expenditure is seen at $68.8 million with a 2.6-year payback period for the project, which has a large in-pit resource  of 1.1 million ounces contained and 747,000 ounces of recoverable gold.
Corvus Gold chief executive Jeffrey Pontius said: "These initial results are impressive and reinforce the potential for creating a new Nevada gold producer.
"The low cost project linked with a low initial capex, attractive start-up phase, a favourable permitting environment, excellent  infrastructure and available labour force, significantly de-risk this prospective project.
"With recent successes in our step out and high-grade drilling project we see this initial positive PEA as a critical first step in  developing what we believe will be one of Nevada's next gold mines."
Speaking to Proactive Investors, Corvus Gold's investor relations executive Ryan Ko said: "We are currently following up on further step out drilling and follow-up drilling of the higher grade Yellowjacket zone.

"Our recent success as shown on our step out hole reported on Feb.13, 2012 shows the potential of the North Bullfrog deposit to be much greater.

"It is important to note that our PEA is based on the current resource estimate reported in October 2011 and does not include any results of the 2012 drill program."

In terms of Corvus Gold's other projects, Ko said that the company was concentrating on Nevada since it was winter in Alaska and Quebec.

"Closer towards the spring we will be drawing up plans and coordinating with our JV partners on the Alaska and Quebec properties for the 2012 summer exploration program, but for now we are concentrating 100% on our Nevada, North Bullfrog project as we continue to add shareholder value."

Ko said that the company was currently well funded. In November 2011, Corvus Gold said it had $5.2 million in cash.
Corvus controls 100 percent of its North Bullfrog project, which covers approximately 43 square kilometres in southern Nevada just north of the historic Bullfrog gold mine formerly operated by Barrick (TSE:ABX)(NYSE:ABX).
The property package is made up of a number of private mineral leases of patented federal mining claims and 161 federal unpatented mining claims. The project has "excellent infrastructure", the company said, being adjacent to a major highway and power corridor.
North Bullfrog currently includes numerous prospective gold targets with four - Mayflower, Sierra Blanca, Jolly Jane and Connection  - containing an NI 43-101 compliant estimated indicated resource of 24 million tonnes at an average grade of 0.29 grams per tonne (g/t) gold for 224,400 ounces of gold.
These same four targets hold an additional inferred resource of 468 million tonnes at 0.19 g/t gold for 2,835,000 ounces of gold  (both at a 0.1 g/t cutoff), with appreciable silver credits.
Corvus Gold said that the PEA envisages average production of 70,000 ounces of gold per year over the first three years, with total cash operating costs of $815 per ounce gold with an average of $673 per ounce gold over the first three years.
The company added that it saw potential for significant resource expansion with an ongoing drill program, as highlighted with recent success in a 400 metre step out hole that returned 52 metres of 0.8 g/t gold earlier this month.
Indeed, these were the first results from its 2012 exploration drilling program at North Bullfrog. Corvus said the results confirmed historical drilling in this resource expansion target area.
The company has also recently added approximately 25 square kilometres to its North Bullfrog project by staking 312 federal mining claims, bringing the land package to approximately  50 square kilometres.
The PEA is based on the North Bullfrog in-situ resource model, which consists of material in both the indicated and inferred classifications. This initial stage PEA does not include any of the additional geologic data produced in the current drilling  program, which began in January, 2012, the company added.

Montero Mining PEA for Duyker Eiland phosphate project shows "robust economics"

Montero Mining and Exploration (CVE:MON) unveiled Tuesday the results of an NI 43-101 compliant preliminary economic assessment (PEA) for its Duyker Eiland phosphate project, showing "robust economics" with a pre-tax net present value of C$150 million at a 10 percent discount rate.
The project is located 30 kilometres north of the Port of Saldanha, in the Western Cape province of South Africa. The company said it is already in discussions with a number of interested parties for commercializing its phosphate assets.
Shares of Montero were up 2.56 percent Tuesday morning at 20 cents on the TSX Venture Exchange.
The PEA report, conducted by Turgis Consulting, is based on an initial inferred mineral resource of 32.8 million tonnes, grading 7.15% P2O5, and shows average production of 490,000 tonnes per year of 33% P2O5 concentrate over an 11-year mine life.

The company said that an average of 4.5 million tonnes of rock would be mined per year at low stripping ratios of 0.57:1.
As reported late last year, preliminary metallurgical test work has indicated that an acid-grade phosphate concentrate of 33%to 35% P2O5 can be produced by flotation.

"We are pleased the results of the PEA on the initial Inferred NI 43-101 Mineral Resource at Duyker Eiland has returned such robust economics with a NPV of CAD$ 150 million with a 10% discount rate," said Montero president and CEO, Dr. Tony Harwood.

"Montero is in discussions with a number of parties interested in commercializing our phosphate assets.

"Montero remains committed to establishing early production on our flagship Wigu Hill Rare-Earth Project in Tanzania while seeking partners to develop our phosphate assets.”

Indeed, the company's Duyker Eiland phosphate project could prove lucrative with a projected internal rate of return (IRR) of 41 percent, pre-tax and before South African royalties. Montero said there are also opportunities to increase the value of the project through the production of fertilizers.

"At a reduction in product revenue per tonne of 15 percent (USD$ 160) the project still demonstrates robust returns with an IRR of 27 percent. Currently, 70% BPL rock phosphate FAS Casablanca is published by the World Bank at USD$ 202 per tonne (January 2012)," Montero said in Tuesday's statement.

Operating cash costs were estimated at C$99 per tonne of concentrate Free alongside Ship (FAS) Port of Saldanha, South Africa, including 20 percent contingency.

Transport and logistics costs, which include transport to port, warehousing at port and transport to wharf alongside ship (FAS), were calculated based on a budget quote received from a local transport company, the company said.

Total capital costs are seen at C$129 million for the project.

The company said the net present value of Duyker does not include expenditures required for exploration and engineering development this year and in 2013. Montero plans to continue to explore the possibility of production of other higher-content phosphate fertilizers and other products to generate additional returns for the asset.

The miner also plans to increase the resource confidence and estimates, and to complete sampling to allow for detailed characterization of the rock phosphate concentrates that may be produced.

An environmental and social scoping study may start, Montero said, in preparation for pre-feasibility studies and additional economic assessment that could be commissioned to examine the viability of a fertilizer plant investment in the area.

Toronto-based Montero Mining is a mineral exploration and development company focused on rare earth elements (REE), phosphates and uranium in Tanzania, South Africa and Quebec, Canada respectively.

Its flagship Wigu Hill REE project in Tanzania is a high-grade, undeveloped light REE deposit, with the company currently focused on updating the initial NI 43-101 resource estimate and advancing the hydro-metallurgical testwork with Mintek.

Rare earth elements, a group of 15 metals, are critical in the development of emerging green technologies and high-tech applications, from electric and hybrid vehicles and wind and hydro power turbines, to LCD screens, MRI, X-ray machines, mobile devices and other computing equipment.

Earlier this month, Montero said it identified measurable amounts of strontium in bastnaesite-bearing carbonatite dikes in the Twiga Zone at its Wigu Hill rare earths project in Tanzania.

The strontium found at the site occurs as strontianite (SrCO3), the company said, which is associated with the rare earth and gangue minerals, and was established during initial mineralogical work that identified bastnaesite and synchisite as the main rare earth-bearing minerals.
The Wigu Hill property was first identified in the 1950s as a high grade deposit, with a large carbonatite complex measuring 6.4 by 3.2 kilometres.  The asset has bastnaesite mineralization and is considered a "look-a-like" to Molycorp's (NYSE:MCP) Mountain Pass project. The rare earth elements at the deposit are hosted in the mineral bastnaesite found in carbonatite dikes, making it similar to Molycorp's Mountain Pass deposit in the USA.
Montero is working to update the initial NI 43-101 compliant resource estimate for the Wigu Hill project this quarter, and is targeting cash flow from a small mining operation at the Twiga Zone.
Last September, the company released a 3.3 million tonne inferred resource on only a fraction of the Wigu Hill complex. Only the Tembo and Twiga deposits on the eastern side were estimated to contain an inferred resource of 3.3 million tonnes at a grade of 2.6% light rare earth oxide (LREO5).
Montero is focused on upgrading the resource, and has hired Turgis Consulting to perform a scoping study on the property, due out in the first half of this year.

Tuesday 28 February 2012

OncoSec Medical doses first patient in phase 2 melanoma electroimmunotherapy trial

Cancer therapy company OncoSec Medical (OTCBB: ONCS) said Tuesday that it has dosed its first patient in a phase two clinical trial testing its OMS ElectroImmunotherapy treament on advanced-stage metastatic melanoma patients.
The dosing comes as the University of California San Francisco (UCSF) received approval from the Investigational Review Board for the trial. UCSF investigators are currently recruiting for this clinical trial, the company said.
OncoSec uses its electroporation delivery system that applies cell membrane stimulation to deliver immunotherapy or chemotherapy to treat a range of cancerous tumour types.
The OMS electroporation system has proven to enhance cellular uptake, effectively treating cancerous cells while sparing surrounding healthy tissue – cutting through the toxic side effects of current available treatment options like chemotherapy and radiation.
In 2011, the company managed to outline a clinical development plan for its local and potentially systemic ElectroImmunotherapy program, which uses the OncoSec Medical System (OMS) to deliver a DNA-based immunotherapy, known as DNA IL-12, designed to induce a local immune response against the treated cancerous tumor, while exploiting this response to initiate a global systemic response against untreated tumors in other areas of the body.
"Results from our open-label Phase I study demonstrated that DNA IL-12 and electroporation has the potential to establish a new standard of care for the treatment of late-stage metastatic melanoma," said president and CEO, Punit Dhillon.
"With immune response results from this Phase II study expected in the second half of 2012, we are confident this study will validate the value of OMS ElectoImmunotherapy."
So far, the company has decided to focus the development of the ElectroImmunotherapy program on skin cancers, including three separate indications for metastatic melanoma, cutaneous T-cell lymphoma and merkel cell carcinoma. Phase two studies for each of these indications are currently underway, with results from these trials expected in the second half of the year.
For the metastatic melanoma trial, a total of up to 25 patients with stage three or four cutaneous and in-transit metastatic melanoma will be enrolled in the phase two, single-arm, open-label and multi-centre study.
The company said the trial is designed to assess local and distant objective response following treatment of cutaneous melanoma lesions with DNA IL-12 and electroporation, with a primary endpoint of 24 weeks.
One treatment cycle will consist of three treatments, applied to up to four lesions on days 1, 5 and 8 with a maximum dose of 1.5 mg DNA IL-12 per treatment cycle.
At 12 months, patients will be moved to the follow-up phase of the study and will be followed for up to five years for safety, OncoSec added.
OncoSec’s oncology assets related to its electroporation platform were licensed from Inovio Pharmaceuticals (AMEX:INO).
The electroporation method, which has proven to be both safe and well tolerated, delivers cancer therapies through millisecond electric pulses, raising cell uptake by up to 10,000 fold, allowing the therapeutic agents to be more effective.
Phase one data using OMS ElectroImmunotherapy to treat malignant melanoma showed that this therapy was both safe and well tolerated, the company said.
In addition, 53 percent of patients with distant metastatic lesions demonstrated an objective response, while 15 percent of these patients having a complete response to the treatment.

Inter-Citic Minerals renews exploration licenses at Dachang project

Toronto-based Inter-Citic Minerals (TSE:ICI) (OCTQX:ICMTF) said Tuesday that it has renewed three key exploration licenses at its Dachang gold project in China. It also combined two other licenses covering the Dachang Main Zone in order to facilitate permitting.

The Ministry of Land and Resources (MOLAR) in China granted a further two year extension of three exploration licenses at Dachang, covering approximately 173 square kilometres.

The renewal is effective immediately, and is valid until November 25, 2013, when it will be eligible for further renewal, the company said.

In addition, the company received from the Chinese government a re-drawing of the boundaries of the remaining two exploration licenses within the property area to facilitate the permitting of the Dachang Main Zone, which hosts most of the company's current NI 43-101 compliant inferred mineral resource estimate.

This main area is planned for open pit mine development. The overall area of these licenses remains unchanged at approximately 106 square kilometres.

The 279 square kilometre Dachang project is now comprised of four licenses, all of which have been renewed successfully by Inter-Citic as they have come due in the past.

Earlier this month, Inter-Citic unveiled the fifth and final set of drill results from 26 holes that formed part of the 2011 exploration program at Dachang.

The results were all from the 861 Zone at Dachang, which now appears to be related to the same structure hosting the previously-reported XP Zone, Inter-Citic said.

This mineralized fault structure has now been delineated by the company through both drilling and trenching over a strike length of 2.8 kilometres, with the eastern and western extensions remaining open.

Highlights of the latest results from the 861 Zone included hole CJV-1268, which intersected 6.0 metres with an average grade of 3.20 grams per tonne (g/t) gold, and hole CJV-1270, which returned 3.0 metres at an average of 3.21 g/t gold.
Moreover, hole CJV-1278 encountered an interval of 13.0 metres at an average grade of 3.61 g/t gold, while hole CJV-1280 reported 4.5 metres of 4.16 g/t gold.
The currently defined NI 43-101 compliant resource at Dachang, calculated in June 2011, consists of an estimated measured and indicated inventory of 1.88 million ounces of contained gold - 17.2 million tonnes gold grading 3.41 g/t - plus a further inferred mineral resource of 1.93 million ounces contained gold  - 21.3 million tonnes grading 2.83 g/t.
A new NI 43-101 compliant preliminary economic assessment for Dachang is due in 2012.

inShare Pdf NanoViricides' FluCide anticipated moving through FDA process shortly

NanoViricides (OTC:NNVC) is a company that holds more than one promising clinical development programs under its belt, with its most advanced - FluCide - set to undergo FDA scrutiny in an upcoming pre-investigational new drug (IND) application meeting in March.
The company's stock has gone up 13.7 percent year-to-date, currently changing hands at around 70.5 cents.
The drug development company makes anti-viral therapies using nanomaterials for a number of viral diseases including seasonal influenza, HIV/AIDS, oral and genital herpes, and the Dengue virus, among many others.
Currently, NanoViricides has five drug development programs within its pipeline, including FluCide, a drug that works against all forms of influenza such as seasonal and epidemic flus, and HIVCide, a drug that works against the HIV/AIDS virus, which the company says could become a "functional cure" for the disease.
FluCide
FluCide, which has the most clinical data of all of the company's potential drugs and is therefore being advanced through the FDA process first, works on the same principles as the rest of NanoViricides' platform.
CEO Eugene Seymour said that FluCide will encounter the most scrutiny from the company's drug platform, as it represents a new class of drugs, and is "essentially the only real treatment for patients hospitalized for the flu including  the immunocompromised like post-transplant and cancer patients".
Indeed, when elderly patients or immuno-suppressed people pick up the flu bug, they often become critically ill, leading to hospitalization in most cases, particularly if the virus is of a pandemic nature like the H1N1 swine flu, explained Seymour.
The drug candidate has been tested in animals against a number of different strains of influenza A, which comprises the majority of flu infections, as well as against H1N1 swine flu, H5N1 bird flu, and other strains.
FluCide's ability to work against a host of flu virus strains is a major consideration, added Seymour, as every year there are many different mutations of the flu. In the US alone, there are approximately 250,000 severe influenza cases that require hospitalization every year, resulting in approximately 40,000 deaths.
"Both vaccines and prior immunity look at a very narrow spectrum. If the virus in question of the season is different even in a small way, circulating antibodies from the prior strain will not recognize the new version.
"The yearly preventative vaccine often doesn't reflect the nature of the circulating virus. Health professionals can estimate what the strains will be, but they were wrong last year with the two strains that were put into vaccine," said Seymour.
FluCide is not a vaccine, but rather a therapeutic drug, as it actually destroys the virus as opposed to improving immunity to a particular disease.
Seymour said that the world is expecting a flu pandemic, and though it is not known when this will happen or what the specific strain will be, it will pay off to be prepared.
In a pandemic emergency in the US, the government has a program called "emergency use authorization", which means that if a drug has completed Phase I/IIa safety and efficacy trials, and it is manufactured under current good manufacturing practice (cGMP) conditions, then the government is eligible to buy the product to treat people with the current circulating strain of the flu virus.
"That is why we are pushing now to get FluCide into human trials as quickly as possible," added Seymour.
To fight the flu, the company uses NanoViricides, an agent designed to fool a virus into attaching to this antiviral nanomachine, in the same way that the virus normally attaches to the receptor proteins on a cell surface. Once attached, the flexible nanoviricide wraps around the virus and entraps it, and in the process, the virus has its protective envelope breached. The virus is therefore neutralized and effectively destroyed.
Seymour explained that every virus needs a target cell to enter and replicate within the body, with the small attachment peptide on the surface of the virus attaching to the cell's receptor protein.
But the company creates a nanomicelle comprised of polymers used for many years in the body, and then a peptide, or a protein, is added that mimics what is expressed in the target cell - creating a nanoviricide. The body is flooded with many more of these nanoviricide cells than target virus cells, helping to trick the virus.
The company's CEO said he believes that one infusion of the drug over a period of a few hours should do the trick, but this has yet to be tested in humans. So far, the drug has been tested in thousands of animals, without having a failure, he continued. Results have showed effectiveness in inhibiting the cycle of infection, and the spread of the virus, as well as long-lasting effects after drug use was stopped.
In May of last year, the viral drug company reported that its FluCide drug candidate reduced flu virus levels by 1,000-fold in an animal study with mice, as compared to the infected untreated control animals, the company said.
Mice treated with Tamiflu, the standard method of treatment, showed less than a two-fold reduction in lung viral load, a measure of the amount of infectious flu virus, at the same time point.
More importantly, two of the three FluCide drug candidates tested maintained the reduced viral load at 7, 13, and 19 days after virus infection in the 21-day long study.
For the study, a fatal quantity of virus particles of influenza A strain was aspirated directly into the lungs of mice. Treatment with either FluCide or Tamiflu began 24 hours after infection.
Previously, the company also reported that the same three FluCide drug candidates achieved significantly increased survival rates of between 20 to 22 days, and more than 95% reduction in lung inflammation.
NanoViricides said it still has to perform toxicology studies for FluCide, required for the FDA to move forward.
Seymour said that the company expects to start these trials just after the pre-IND FDA meeting takes place, which is expected in the next four to six weeks.
The FDA is anticipated to give guidance on the types of species to be used in the study, and how many animals are necessary within each species group, said NanoViricides' CEO. The preliminary meeting will also review the company's plan for conducting human clinical trials needed for approval.
Once FluCide is on its targeted FDA path, NanoViricides expects its other nanoviricide drugs in the pipeline to follow, with one expected "every six months or so".
Just this year alone, the company is awaiting results of new animal studies testing its drug for genital herpes, as well as animal trial results for herpes of the eye, and the Dengue virus.
HIVCide
Its HIVCide program, which is again based on the nanoviricide platform, is also creating buzz, with a potential $21 billion addressable market based on 2013 estimates. NanoViricides has said that its drug has proven to be a "functional cure" in two large studies, meaning that although there may be some residual virus left, the amount of virus is not enough to make it contagious or cause illness, Seymour said.
The company used animals with a “humanized” immune system for the HIV trials as embryonic human thymus cells were implanted into the target animals. Effects of the HIVCide lasted at least 30 days after therapy was stopped.
Last July, NanoViricides reported that HIVCide achieved an efficacy level equivalent to a highly active anti-retroviral triple (HAART) drug cocktail in an animal study. The three drug-combination used for comparison is one of the current therapies recommended for patients with HIV.
Although a functional cure is not a complete cure, it would allow an infected person to continue normal life even after discontinuation of therapy, maintaining undetectable viral load until a recurrence.
Seymour said that the worse case for this program is to treat patients with HIVCide for a few days, and then give them a booster "every few months", with the best case enabling antibodies from the recovering immune system to knock out the residual virus.
Indeed, by knocking the amount of virus down so low both in blood circulation and in the lymph nodes, immune system cells could potentially be allowed to recover, and make antibodies to destroy the remaining amount of virus.
"An outright cure would be everybody's dream," insisted Seymour.
The company still has to test the HIV drug in human trials, which is a "complex and expensive issue", said NanoViricides' CEO, meaning it will likely need a partner.
"That is why we are going for the low-hanging fruit at the moment, so to speak - such as herpes, dengue and flu - which the world definitely needs."
New cGMP Manufacturing Facility
NanoViricides, which has a cash position of around $14 million, has also taken steps to ensure cGMP manufacturing of drug candidates, with limited capital costs to the company. It is planning to begin the refurbishment of a new 18,000 foot square facility in 2012 in Connecticut, where the company will design, order and install a cGMP manufacturing plant.
The drug developer has already announced that a colleague will guarantee all the loans necessary for the refurbishment and the construction of the plant, as well as the necessary equipment, allowing it to start producing samples of its drugs and ensuring consistent production.
Human trials for FluCide are expected to start next year, depending on how fast the manufacturing facility can be ready, Seymour concluded.

Implant Sciences sells QS-H150 to Chinese airport

Security systems and sensors supplier Implant Sciences Corporation (OTCQB:IMSC) said Tuesday it sold seven Quantum Sniffer QS-H150 portable explosives trace detectors to an airport in China.
The company is continuing to penetrate the China security market, having sold several million dollars worth of its QS-H150 product there since 2008 to a large number of customers, including the Civil Aviation Administration of China.
According to the China Daily, China is planning to expand as many as 91 of its existing 175 airports between 2011 and 2015, while adding 56 new ones and potentially relocating 16 others.
Implant said its distribution channels are well positioned for this growth, as well as the expected boost in the rail and subway markets in China. The most recent sale to the China airport was completed through the company's Beijing-based distributor, Beijing JingAnLanDun Science and Technology Development Co.
"Aviation security continues to be an important market for us in China," said Implant Sciences' president and CEO, Glenn D. Bolduc.
"The QS-H150's quality, functionality, performance, and low cost-of-use consistently win contracts even when going up against companies that are larger than us with far greater resources."
Implant has been expanding the sales of its QS-H150 to international markets. Last month, the company said that a major global oil corporation had purchased units of the QS-H150, to be used in securing the unnamed oil business' facilities in Africa. This followed new orders for the device from the Middle East and Japan.
Implant Sciences' systems are used by private companies and government agencies to screen baggage, cargo, vehicles, among other objects, and people for the detection of trace amounts of explosives.
The Quantum Sniffer QS-H150 is a handheld explosives trace detector that rapidly detects trace amounts of a number of military, commercial, and homemade explosives. The QS-H150 uses no radioactive materials.
Bolduc continued: "We also see significant opportunity in the aviation security market with our newest product offering, the QS-B220."
Indeed, the Quantum Sniffer QS-B220, which was introduced in May 2011, is a trace detector that uses ion mobility spectrometry to identify a number of military, commercial and homemade explosives and narcotic substances.
The benchtop explosives and narcotics detector is suited for a number of security settings, including high-traffic airports, borders, and prisons.
In December, the QS-B220 device received CE Certification, an important step for generating sales in Europe, and earlier this month, achieved ASTM E2520-07 certification.
Implant also signed a cooperative research and development agreement with the Transportation Security Laboratory, which has been working closely with the QS-B220 product to help the company in preparing for TSA qualification and certification.

Western Potash hires project director

Western Potash (TSE:WPX) said Monday it hired Richard Lock as project director, effective March 20, to help the company develop its wholly-owned Milestone potash project in Saskatchewan.
Prior to joining Western Potash, Lock worked as project director for BHP/Rio Tinto's joint venture Resolution copper mining project in Superior, Arizona, where he was responsible for the development of the multi-billion dollar project, including pre-feasibility studies and associated on-site activities for exploration and future development.
Resolution hosts the third largest copper ore body in the world, and is expected to produce 25 percent of the U.S. copper supply, while creating 3,700 jobs and generating USD $61 billion in economic growth.
Lock started his career in the mining industry some 24 years ago, with De Beers-Anglo American in South Africa. He later joined Rio Tinto's (NYSE:RIO) Diavik Diamonds Project (Diavik) at Lac de Gras in Canada’s Northwest Territories, where he took the project from the evaluation stage to production.
Western Potash president and CEO, Patricio Varas, commented: "We are delighted to have Richard join our project development team.
"This appointment to the Milestone Project sends a clear signal that the company is effectively assembling a world class team, dedicated to bringing a world class Potash project to production.
"Those of our management team that have worked with Richard at Diavik and Resolution relish the opportunity to work together to deliver the newest independent potash mine in Saskatchewan."
Late last year, Western Potash announced several operational updates, including an updated resource estimate for the Milestone property.
The company said the updated resource estimate slightly increased the Milestone recoverable potash resource to 66.6 million tonnes in the measured category, 186.9 million tonnes of indicated resource, and 708.2 million inferred tonnes.
In October 2011, the junior miner said an independent prefeasibility study (PFS) confirmed its 100 percent-owned Milestone potash property showed "significant positive economics".
The study, carried out by AMEC Americas, showed that the asset was of sufficient size and grade to support mining for more than forty years at a production rate of 2.8 million tonnes per year. The annual production rate can also be expanded through a higher level of capital expenditure.
An assessment of project economics, assuming a discount rate of 10 percent, showed the resulting project net present value is C$4.14 billion, while the internal rate of return is 22.7 percent.
The initial capital expenditure estimate for the plant is $2.76 billion, including allowances for port infrastructure, a water supply pipeline, and off site railway. Unit operating costs were estimated to be $62.35 per tonne at full production capacity.
The environmental impact study (EIS) for the project remains on schedule and on budget, with an anticipated submission date in the third quarter of 2012.
The Milestone property, comprising 500 square kilometres, is located 30 kilometres southeast of Regina, and southeast of Mosaic’s Belle Plaine Mine, one of the largest producing potash solution mines in the world.

NeoMagic says MagicVault showed "major performance improvement" over current products

NeoMagic Corp. (PINK:NMGC) said Monday its USB 3.0 flash drive MagicVault solution demonstrated a major performance improvement over currently available products during testing.
The company designs and delivers consumer electronic device solutions for video, television, imaging, graphics and audio.
NeoMagic tested the flash drive on its field programmable gate array (FPGA) platform, an integrated circuit designed to be configured by the customer or designer after manufacturing.
The embedded memory tech maker also said Monday it is in talks with “potential strategic partners and investors” about MagicVault and other new products in development.
NeoMagic said its design win with ViV Systems to develop an M-Book controller for karaoke systems has made significant progress.
CEO of ViV Systems, Tho Pham, said: “We are very pleased with the support received from NeoMagic’s team in the development of our M-Book Karaoke controller which is based on the MiMagic6+ SOC with 7” high resolution touch screen support.
"We are looking forward to bringing this product to market in the second quarter of this year.  The M-Book will greatly enhance the user experience for our karaoke systems."
NeoMagic said it is continuing its efforts to find other customers for MiMagic6+, which is a SOC/Micro-controller for embedded applications. The company continues to ship its MiMagic 3 product to its Asia Pacific customer, it added.
During the last two years, NeoMagic’s goal has been to develop new products in high-volume  and to find other opportunities to monetize existing MiMagic family products, which are processors and software used within smartphones, TVs and other electronics.
An "equally important" near-term goal for NeoMagic is to return to full-time financial reporting, it said. The company suspended its financial reporting in the second quarter of 2011 in order to allocate its full resources to bringing new products to market.
NeoMagic also said it is also exploring various e-commerce opportunities as well.
Separately, the company announced on Monday that Rod Peterson has been named vice president of administration and information. Peterson has been involved in all phases of NeoMagic’s operations for three years.

Lithium Americas 3D brine model confirms size, capacity of Cauchari-Olaroz resource

Lithium Americas Corp. (TSE:LAC) (OTCQX:LHMAF) said Monday it has completed a 3D brine numerical model, used to simulate brine extraction from its Cauchari-Olaroz lithium-potash project in Argentina, which confirmed the size and production capacity of the resource.
The model allows the prediction of brine flow within the salar, or salt lake, as well as of the mine life, the lithium grade depletion over time and reserves.
The company said the modeling is supported by geological, hydrogeological and geochemical data collected through field programs at the site.
"A 3D brine numerical model is the ultimate tool to fine tune the mine plan in a brine development resource," said president and CEO, Dr. Waldo A. Perez.
"The model has also supported many of the critical assumptions in our Preliminary Economic Assessment (PEA) including the size, quality and estimated productive life of the Cauchari-Olaroz resource estimate – one of the largest lithium brine resource in the world.
"We are very pleased that the model also indicates that due to the exceptional geological characteristics of our salar, we are expected to require approximately 50% of the production wells originally estimated in the PEA to put phase 1 of the project into production."
Results of the model will be displayed at the company’s booth at the Prospectors and Developers Association of Canada Convention (PDAC) in Toronto, Ontario.
"We continue to add value to our project and to demonstrate the technical capability of our team. We expect to deliver the definitive Feasibility Study with reserves and a mine plan in Q2 2012," added Perez.
The company's Cauchari-Olaroz lithium project comprises a significant portion of two adjacent Argentinean salt lakes, Cauchari and Olaroz, covering 82,498 hectares located in the "Lithium Triangle" region of South America.
Cauchari-Olaroz is considered the third-largest deposit of lithium in the world. The property has a total lithium and potash resource of 8.0 million tonnes and 25.4 million tonnes, respectively.
Major automotive players Mitsubishi Corp and Magna International are shareholders of the company, in addition to them both having off-take arrangements with Lithium Americas.
In late 2011, Mackie Research said that the company was "on track to becoming a leading player in the lithium market".
Indeed, an April 2011 preliminary economic assessment (PEA) completed by ARA Worley Parsons defined an operation with an eventual operating capacity of 40,000 tonnes of lithium carbonate per year, having an operating cost of $1,434 per tonne - considered to be among the most competitive costs of any lithium operation in the world.
Looking forward, Lithium Americas said the planned milestones for this year include an NI 43-101 reserves estimation calculated by AquaResource Inc. in the first quarter of 2012, which will include the 3D model reported today.
The 3D model was developed by AquaResource, with the involvement of Dr. Mark King, the Independent Qualified Person for Lithium Americas.
The model included additional data collected since the previous resource estimate filed in December 2010, including geology, hydraulic testing and brine results from five pumping well arrays and four sets of salt lake boundary tests, as well as a water balance analysis, completed in 2011.
The upcoming reserve estimate will be derived from the simulation of a conceptual production well system. The model predicts that the grade of the pumped brine will remain above 600 milligrams per litre lithium for a period of at least 50 years.
The model also shows that an annual production rate of 40,000 tonnes of lithium carbonate can be achieved over a period of 40 years, without extracting brine from outside of the property boundary. The predicted duration for which it can maintain a production rate of 40,000 tonnes of lithium carbonate per year within the model exceeds 50 years, the company added.
Using data from the upcoming reserves study, ARA WorleyParsons is expected to deliver a definitive feasibility study in the second calendar quarter of 2012.
After the feasibility study, Lithium Americas expects to start detailed engineering in the third quarter, which is expected to be complete in nine to 12 months.
During the second half of the year, the company also expects the approval of an environmental impact statement - a type of permit necessary to begin construction and mining at Cauchari-Olaroz.
Other near-term milestones include the completion of a certification and qualification process for its battery-grade lithium carbonate, the re-assembling of a pilot plant at the project, and the closing of financing and off-take agreements with strategic parties, Lithium Americas said.