Pressure BioSciences says PCT platform benefits highlighted at a recent international scientific conference

Pressure BioSciences (OTCQB: PBIO) announced Friday that two separate research groups presented data at a recent scientific world congress showing that the inclusion of the company's pressure cycling technology (PCT) platform into their sample preparation processes resulted in a "marked improvement in the quality and/or efficiency of test results."

The studies were presented by scientists from the Center for Biologics Evaluation and Research of the Food and Drug Administration and from Janssen Research and Development at the HUPO 11th annual world congress in Boston. 

Pressure BioSciences’ PCT platform uses rapid and repeating cycles of hydrostatic pressure at controlled temperatures to extract cell components in the preparation of a biological sample, such as DNA and proteins from humans, animals and plants, for further study. 

Its PCT products can be used for mass spectrometry, biomarker discovery, bio-therapeutics, vaccine development, forensics, and counter-bioterror applications, among other applications.

The first study, presented by scientists from the FDA, reported that PCT was an important part of their approach to improve sample preparation and protein identification. The authors of the study said the approach allowed them to better identify and analyze events likely to control the biology of multipotent stromal cells - which offer potential for cell-based therapies for a wide number of diseases. 

Meanwhile, scientists from the Janssen team reported that PCT was "very effective in significantly reducing" the total time required to digest monoclonal proteins and to expedite their complete characterization. Monoclonal antibodies are used in diagnostics and therapeutics, and it is necessary to characterize them before use, which requires a digestion process that can be time consuming,Pressure BioSciences said. 

“We are very pleased that two highly respected scientific teams have shown that the incorporation of the PCT Platform in their sample preparation workflow resulted in significant advantages, including savings in analysis time and improvements in test and result quality," said VP of sales and marketing, Dr. Nate Lawrence. 

"Cell-based therapies are believed to offer enormous potential for improving human healthcare and the quality of life. The monoclonal antibody market is believed to be in the tens of billions of dollars. 

"Consequently, we believe that the results presented by FDA and Janssen scientists at HUPO 2012 bode well for an increased demand of our PCT Platform in 2013 and beyond.”

Earlier this week, Pressure BioSciences said a keynote speech, to be delivered by microbiologist and infectious diseases expert Dr. Bradford Powell at  the Clinical Microbiology & Microbial Genomics Conference, could help to increase visibility of its PCT platform.

Powell is scheduled to present the keynote address during the opening ceremony of ClinMicro-2012 in San Antonio, Texas from November 12 to 14.

In the keynote address and a second, main session presentation later in the conference, the company said Powell is expected to present data highlighting the advantages of its PCT platform that has been shown to enable “significant improvements” in molecular-based microbiological testing - a “rapidly growing and extremely important” area in laboratory medicine today.

In August, the company said revenues from the sale of PCT products and services was $224,384 for the second quarter, up 18 per cent from a year ago.

Batero Gold shares on the rise as it pens strategic alliance with major Peruvian gold producer - UPDATE

**updated with latest share price data

Shares of Batero Gold Corp. (CVE:BAT) rose Friday midday after it said late last night that it inked a strategic alliance with private Peruvian gold producer Consorcio Minero Horizonte, which will see Horizonte take a 35 per cent in Batero, raising up to $20 million for the development of the Batero-Quinchia project in Colombia. 

Shares in the company were lately up by 5 cents, or 10 per cent, to 55 cents on the TSX Venture Exchange early Friday afternoon, exceeding their 50-day average trading volume. 

The agreement includes equity private placement financings, as well as an agreed loan of $2.2 million to Batero from Horizonte, all together raising up to $20 million for Batero. 

The deal will also see Batero gain a strategic alliance partner in Horizonte, which is the fifth largest gold producer in Peru, and advance the junior gold explorer's efforts in developing its Batero-Quinchia project toward a production decision. 

Batero said the financings will generate sufficient cash to fund the development of its project through to completion of a technical study, compliant with Colombian legislation for production.

It will also benefit from Horizonte's operational expertise, as well as the premium at which the financings will be transacted - minimizing dilution for Batero's shareholders. 

In addition, Batero will mantain its 100 per cent royalty-free stake in the project. 

"Batero is pleased to have gained a partner of Horizonte's stature," said the company's president and CEO, Brandon Rook.

"Horizonte's expertise will serve as an invaluable asset as we focus upon moving the La Cumbre deposit through to a production decision. 

"In addition to its more than three decades of mining experience, Horizonte possesses exceptionally high technological, safety, and environmental standards."            

The initial share financing with Horizonte will consist of 8.9 million common shares at 65 cents each - a premium of around 46 per cent to the volume weighted average closing price of Batero's shares in October. This would raise roughly $5.8 million for Batero, subject to the approval of the TSX Venture Exchange. 

Once this initial financing is complete, Horizonte will own almost 20 per cent of Batero. 

The next financing will consist of 18.5 million subscription receipts at a price of 65 cents each, also a premium of 46 per cent, for additional proceeds of almost $12 million. After this, Horizonte will take a 35 per cent stake in Batero, or over 39 per cent assuming the exercise of all convertible securities. 

Each subscription receipt will automatically convert into one unit, which is made up of one common share and a "relevant fraction" of one share purchase warrant. Every whole warrant is good for three years for an additional share, at a price of 90 cents. This latter financing is also contingent on the approval of Batero's shareholders, as well as the TSX Venture Exchange. 

Also under the deal, two nominees of Horizonte will join Batero's board of directors, with one of these individuals to be selected specifically based on "technical acumen", the parties said. 

Horizonte will also supply Batero with any required technical personnel under the terms. 

"Horizonte is pleased to have the opportunity to work alongside Batero in Colombia," added Horizonte's managing director, Felix Navarro.

"Since Batero commenced exploration on the Batero-Quinchia Project in 2010, the company has quickly outlined a large mineral resource and focused its attention on the promising opportunity at La Cumbre. We believe the addition of our insight and experience will assist in establishing the La Cumbre deposit as a successful gold mining operation."

The project has an initial resource estimate of 3.5 million ounces of indicated gold and 2.6 million ounces of inferred gold. The open pit resource estimate is based on a 0.16 grams per tonne (g/t) cut off, with 70 per cent of the project remaining unexplored.

La Cumbre is one of the three porphyry deposits at the Batero-Quinchia project, with at and near surface oxidized gold mineralization grading greater than 1.0 g/t gold in the central core of the deposit, as well as lateral and vertical continuity of gold mineralization.

The company's 4,947 metre completed drill program this year was aimed at infill drilling to upgrade the indicated mineral resources at La Cumbre to the measured resource category, and to test for potential extensions. 

In September, the Vancouver-based gold explorer reported initial drill results from its 2012 program at the La Cumbre, citing "significant" gold mineralization at the end of all holes. 

Notable results include grades of 1.14 g/t gold and 2.37 g/t silver from 3.4 to 100 metres in hole LC036. 

The company is evaluating the "most efficient and cost effective" mine scenario for the project, including a leach processing circuit, and starter pit production from the surface higher grade mineralization of the oxide and transition zones at the La Cumbre deposit.                 

The deal with Horizonte means that the Peruvian company will have the right of first refusal in respect of any sale of all or any part of the project, and will have a pre-emptive right to maintain its interest in any future financings as long as it holds at least a 10 per cent stake. 

Horizonte's shareholdings are also limited to no more than 45 per cent of Batero on an undiluted basis, until the earlier of the start of commercial production or three years from closing of the initial financing.               

Rook added: "We believe that Horizonte's investment and the creation of this strategic alliance lends tremendous credibility to the Batero-Quinchia Project, and further increases its potential to become a producing asset."

Kilo Goldmines hits high grade gold at Somituri project

Toronto-based Kilo Goldmines (CVE:KGL) announced Friday results from 11 diamond drill holes at its Somituri project in northeastern Democratic Republic of Congo, which show additional mineralization aside from the primary target. 

The 11 holes were completed this year, at 160 metre intervals, for a total of 2,714 metres over a strike length of 1,419 metres on the Kitenge prospect of the project. The prospect is just 4 kilometres from Kilo's 1.87 million ounce Adumbi gold deposit. 

Notable results from the holes reported today include 5.8 metres at 42.24 grams per tonne (g/t) in a 700 metre open-ended high grade gold zone, as well as 2.95 metres at 9.19 g/t gold,  and 3.92 metres at 13.6 g/t gold. 

The company also saw a weighted average of 4.3 metres at 12.51 g/t gold. 

Kilo said the gold zone was confirmed over an open-ended 1,500 metres. 

"The gold intersections in the 2012 drill holes confirms the Kitenge Prospect consists of a strike-continuous gold bearing structure hosting high grade gold values and infill drilling should result in delineating additional resources," said president and CEO, Alex van Hoeken.

"The results show that in addition to the main shear zone (KSZ), which is our primary target, there is additional mineralization in the hanging wall and footwall which could give more mineralized zones than anticipated.          

"The high grades from the recent drilling, in combination with the 1.87 million ounce Adumbi deposit, indicate that a larger, higher grade global resource in the Somituri project will be possible, with the objective of feeding a single mill from multiple pits."

He further said that the 2012 exploration program was completed at a "much lower cost" than budgeted, drilling the 10,000 metres announced at the beginning of the year. Limited results from this drilling have been received so far, while drilling is also still continuing. 

The Somituri project consists of eight exploitation licenses totalling 606 square kilometres in the Archaen Ngayu Greenstone belt.

According to historical records, the Kitenge and Manzako mines produced about 100,000 ounces of gold to 1955, and the Adumbi gold mine produced about 200,000 ounces of gold from quartz vein ore that averaged 11 g/t gold during the 1940s until its closure in 1959.             

The Mineral Corporation, based in Johannesburg, calculated an NI 43-101 compliant inferred gold resource estimate of 1.87 million ounces grading 1.63 g/t gold using a 0.50 g/t gold cut-off on the Adumbi prospect in April. 

Focus Graphite hires Terrapex to help in permitting process for Lac Knife project

Focus Graphite (CVE:FMS)(OTCQX:FCSMF) says it has hired Quebec-based Terrapex Environnement to assist the company in obtaining the required federal, provincial and municipal permits to develop its Lac Knife graphite project toward commercial production.

The Lac Knife project is located in the Cote-Nord region of northeastern Quebec, 27 km south-southwest of the iron-mining town of Fermont.

The news, which was announced late Thursday, follows the company's announcement earlier this week, when it posted the results of a preliminary economic assessment for the project. 

Monday, the graphite explorer unveiled its long awaited PEA, showing average concentrate grades of 92% graphitic carbon.

With a mine life of 20 years, the open pit operation is expected to yield 300,000 tonnes per year, with life-of-mine production of 928,000 tonnes of concentrate at 92% graphitic carbon on average, or approximately 46,600 tonnes of concentrate per year.

Pre-tax net present value - at a 10% discount rate - was estimated at $246 million with a 32% pre-tax internal rate of return and a pre-tax payback period of 2.8 years.

Initial capital cost was projected at $154 million, inclusive of $33 million and $24 million in working capital and contingency (25 per cent), respectively.

The decision to start the permitting process follows one of the recommendations in the preliminary report. The PEA was prepared by Roscoe Postle Associates, and is filed on Sedar already. 

"The hiring of Terrapex to assist Focus in its endeavours to obtain all regulatory approvals for Lac Knife together with the start of environmental and social impact studies are further evidence of our commitment to expedite the development of the project towards our goal of full commercial graphite production," said president and CEO, Gary Economo.              

The mine permitting process in Quebec is made up of various federal, provincial and municipal authorizations for mine pre-development, permitting, road construction, mine construction, camp installation and other considerations. 

To this end, Terrapex has already prepared a baseline regulatory framework for the project, which outlines all of the procedures the company must follow in order to comply with applicable regulations and obtain the certificate of authorization, it said. 

As part of this process, Focus said it has started environmental auditing and baseline studies, advanced metallurgical testing, mine tailings and waste rock characterization, as well as archeology and biodiversity studies. This will lead to a full environmental and social impact report - anticipated to be wrapped up by the end of next year. 

Batero Gold pens strategic alliance with Peruvian gold producer Consorcio Minero Horizonte, to raise up to $20 mln for development of Colombian project

Batero Gold Corp. (CVE:BAT) has inked a strategic alliance with private Peruvian gold producer Consorcio Minero Horizonte, which will see Horizonte take a 35 per cent in Batero, raising up to $20 million for the development of the Batero-Quinchia project in Colombia. 

The agreement includes equity private placement financings, as well as an agreed loan of $2.2 million to Batero from Horizonte, all together raising up to $20 million for Batero. 

The deal will also see Batero gain a strategic alliance partner in Horizonte, which is the fifth largest gold producer in Peru, and advance the junior gold explorer's efforts in developing its Batero-Quinchia project toward a production decision. 

Batero said the financings will generate sufficient cash to fund the development of its project through to completion of a technical study, compliant with Colombian legislation for production.

It will also benefit from Horizonte's operational expertise, as well as the premium at which the financings will be transacted - minimizing dilution for Batero's shareholders. 

In addition, Batero will mantain its 100 per cent royalty-free stake in the project. 

"Batero is pleased to have gained a partner of Horizonte's stature," said the company's president and CEO, Brandon Rook.

"Horizonte's expertise will serve as an invaluable asset as we focus upon moving the La Cumbre deposit through to a production decision. 

"In addition to its more than three decades of mining experience, Horizonte possesses exceptionally high technological, safety, and environmental standards."            

The initial share financing with Horizonte will consist of 8.9 million common shares at 65 cents each - a premium of around 46 per cent to the volume weighted average closing price of Batero's shares in October. This would raise roughly $5.8 million for Batero, subject to the approval of the TSX Venture Exchange. 

Once this initial financing is complete, Horizonte will own almost 20 per cent of Batero. 

The next financing will consist of 18.5 million subscription receipts at a price of 65 cents each, also a premium of 46 per cent, for additional proceeds of almost $12 million. After this, Horizonte will take a 35 per cent stake in Batero, or over 39 per cent assuming the exercise of all convertible securities. 

Each subscription receipt will automatically convert into one unit, which is made up of one common share and a "relevant fraction" of one share purchase warrant. Every whole warrant is good for three years for an additional share, at a price of 90 cents. This latter financing is also contingent on the approval of Batero's shareholders, as well as the TSX Venture Exchange. 

Also under the deal, two nominees of Horizonte will join Batero's board of directors, with one of these individuals to be selected specifically based on "technical acumen", the parties said. 

Horizonte will also supply Batero with any required technical personnel under the terms. 

"Horizonte is pleased to have the opportunity to work alongside Batero in Colombia," added Horizonte's managing director, Felix Navarro.

"Since Batero commenced exploration on the Batero-Quinchia Project in 2010, the company has quickly outlined a large mineral resource and focused its attention on the promising opportunity at La Cumbre. We believe the addition of our insight and experience will assist in establishing the La Cumbre deposit as a successful gold mining operation."

The project has an initial resource estimate of 3.5 million ounces of indicated gold and 2.6 million ounces of inferred gold. The open pit resource estimate is based on a 0.16 grams per tonne (g/t) cut off, with 70 per cent of the project remaining unexplored.

La Cumbre is one of the three porphyry deposits at the Batero-Quinchia project, with at and near surface oxidized gold mineralization grading greater than 1.0 g/t gold in the central core of the deposit, as well as lateral and vertical continuity of gold mineralization.

The company's 4,947 metre completed drill program this year was aimed at infill drilling to upgrade the indicated mineral resources at La Cumbre to the measured resource category, and to test for potential extensions. 

In September, the Vancouver-based gold explorer reported initial drill results from its 2012 program at the La Cumbre, citing "significant" gold mineralization at the end of all holes. 

Notable results include grades of 1.14 g/t gold and 2.37 g/t silver from 3.4 to 100 metres in hole LC036. 

The company is evaluating the "most efficient and cost effective" mine scenario for the project, including a leach processing circuit, and starter pit production from the surface higher grade mineralization of the oxide and transition zones at the La Cumbre deposit.                 

The deal with Horizonte means that the Peruvian company will have the right of first refusal in respect of any sale of all or any part of the project, and will have a pre-emptive right to maintain its interest in any future financings as long as it holds at least a 10 per cent stake. 

Horizonte's shareholdings are also limited to no more than 45 per cent of Batero on an undiluted basis, until the earlier of the start of commercial production or three years from closing of the initial financing.               

Rook added: "We believe that Horizonte's investment and the creation of this strategic alliance lends tremendous credibility to the Batero-Quinchia Project, and further increases its potential to become a producing asset."

Snipp to host panel at ad:tech in New York next week

Mobile marketing services provider Snipp Interactive(CVE:SPN) said it will be hosting a panel at ad:tech New York, on Thursday, November 8, at 11:00am ET. 

The event gathers industry professionals to network, exchange ideas, and learn about new marketing techniques. It is expected to gather over 10,000 marketers over the course of two days.

Snipp's panel, "Call and Response", will give audiences insight into how mobile can be effectively used to collect customer and user data, the company said. Moderated by Snipp's COO, John D. Fauller, the panel will feature a number of "distinguished" panelists from a variety of industries:

Bethany Sanker, Marketing Manager, James Hardie Building Products

Benjamin Podoswa, CEO, Seccion Amarilla

Julie Renwick, Senior Partner, Executive Director, Mobile, Ogilvy & Mather

Matt Kammerait, Product Manager, Interactive Print Solutions, Quad Graphics

Panelists will discuss how they see mobile marketing evolving, with a particular focus on the notion of using mobile to not just give information to users, but to learn more about them.

"Thus far the focus of mobile has been the immediacy of engagement and interactivity it provides to marketing campaigns," Snipp said in a statement. 

"What has been (relatively) underappreciated is its effectiveness as a medium for capturing valuable customer demographic, behavioral and purchase data, thereby providing brands with a wealth of information on who their customers are and what they are doing," 

Snipp Interactive provides print publishers, advertising agencies and corporate/consumer brands with a full suite of mobile marketing services in North America, and generates revenue by designing, constructing, implementing and managing these mobile marketing services for its customers.

Headquartered in Washington, D.C. and established in 2007, the company has provided its services to several Fortune 500 companies and other major brands, advertising agencies and publishers, including Wal-Mart (NYSE:WMT), ESPN, Time Inc, Ford (NYSE:F), Nike (NYSE:NKE), Wendy's (NASDAQ:WEN) and Campbell Soup (NYSE:CPB).

Snipp's “Mobilize Me” platform supports many input mechanisms for mobilizing marketing campaigns for companies, including text message, QR codes, Microsoft (NASDAQ:MSFT) tags and Snapp tags.

CEO Atul Sabharwal said: "In many ways, the evolution of mobile mirrors that of the Web more broadly: in the early days websites would primarily be used for publishing information out, and it is only now that audiences and brands have come to accept - and expect - rich mechanisms for data collection and extensive ways in which that data is utilized not just for brand marketing purposes but for consumer benefit as well. 

"The same thing seems to be happening in mobile, only much faster!"

Snipp will also be hosting a booth on the exhibition floor and will be giving away an iPad Mini through an exclusive mobile-enabled contest. The company will be situated at booth #1846. 

Arian Silver says talks over new mill are positive

Arian Silver (LON:AGQ CVE:AGQ) said today it expects to give an update on a new toll mill for its silver mine in Mexico "very soon".

Arian milled nothing in the three months to September following a dispute with the owner of the mill it used previously. 

Jim Willliams, Arian's chief executive, today said: "The Q3 results are in line with expectations, reflecting the suspension to our milling operations.

"I am pleased with our ability to respond swiftly and decisively and this is reflected in the reduction of operating cash costs whilst we are not milling, from over US$1 million per month down to US$0.1 million per month.

"Discussions regarding the refurbished mill continue positively, and I hope to be able to provide a more complete update on this matter very soon," he added.

Revenue totalled $4.6 million in the nine months to Spetmber down from US$5.1 mln a year earlier, while the pre-tax loss was $1.2 million for the nine months down from US$10.5 mln. Working capital was US$2.2mln at end Septmber.

The new mill, which is located nearby on the outskirts of the city of Zacatecas, is currently expected to become operational during the current quarter.

ImmunoCellular provides update, optimism over cancer vaccine development boosts shares

ImmunoCellular Therapeutics, Ltd. (NYSE MKT:IMUC) Thursday gave an update on year-to-date achievements and anticipated milestones, after closing a follow-on financing for $19.3 million in cash earlier this month.

Shares rose nearly four per cent as at about 10:40 a.m. EDT, trading at$1.86.

The company said its progress in the third quarter and year to date has resulted in “strong fundamentals”. 

“This month, we completed a significant underwritten public financing, which provided approximately $19.3 million of cash, net of commissions and expenses, achieving our goal of capitalizing the company with sufficient cash runway to enable us to achieve our near-term objectives,” said ImmunoCellular interim CEO John S. Yu, MD.

“We have an innovative proprietary technology platform and a growing pipeline of valuable clinical assets. 

“Our development programs are on track and advancing toward anticipated inflection points.” 

Yu said the company anticipates achieving “important upcoming clinical milestones” in the remainder of 2012 and in 2013 that can strengthen its position as “an emerging leader” in cancer immunotherapy.

“Our phase IIb randomized, placebo-controlled, double-blind clinical trial of ICT-107, a dendritic cell vaccine targeting brain tumor antigens and cancer stem cells, is progressing well.”

The company completed enrollment of 278 patients on time, and said the ICT-107 trial is being conducted at 25 clinical sites in the U.S. 

In early 2013, ImmunoCellular said it anticipates that the Data Safety Monitoring Committee will conduct an event-driven interim safety analysis, and that final results will be available in late 2013. 

Rather than simply targeting a single tumor-specific antigen, the company's vaccine pursues multiple different antigens found on cancer stem cells.

The primary endpoint of this trial is overall survival, with secondary endpoints of progression-free survival, overall survival and progression free survival at various time intervals, immune response in T cells and safety. The company has said previously that depending on the trial's progress, results could be available sometime in the late second half of 2013.

Phase I ICT-107 data was “prominently featured” at the Society for Immunotherapy of Cancer annual meeting last month, and in SITC’s press briefing, as an “exciting new breakthrough” in cancer treatment, said ImmunoCellular.

Going forward, the company said it is “on track” to file an investigational new drug (IND) application for ICT-140, a dendritic cell vaccine targeting ovarian cancer antigens and cancer stem cells, at the end of 2012.

It is also planning to initiate a 20-patient, investigator-sponsored phase I trial of ICT-121, a dendritic cell vaccine targeting patients with recurrent brain tumors, also before the end of 2012.

On November 17, ImmunoCellular said it will report at the 17th annual meeting of the Society for Neuro-Oncology on the “Identification of immunogenic epitopes from CD133 and their potential for use to immunologically target glioblastoma cancer stem cells”.

Preclinical data supporting the ICT-121 clinical trial, which targets cancer stem cells in patients with recurrent brain tumors, will be reported.

“In addition, I am pleased to report that we are making significant progress in recruiting a permanent chief executive officer for our company, said Yu.

“We believe that ImmunoCellular has a bright future, and that our pipeline of innovative cancer immunotherapeutics has the potential to offer significant medical benefit to patients.” 

Yu said the company will remain focused on serving the needs and creating value for all its stakeholders, and to making a “significant contribution” to advancing the understanding and treatment of cancer.

ImmunoCellular Therapeutics is a Los Angeles-based clinical-stage company that is developing immune-based therapies for the treatment of brain and other cancers. 

Prophecy Platinum appoints new COO as it assembles new team

Prophecy Platinum Corp. (CVE:NKL)(OTCQX:PNIKF) appointed Thursday professional engineer John Sagman as its senior vice president and chief operating officer. 

The company said it is in the process of assembling a new leadership team with proven expertise in the operation of successful mining projects, and will have executive-level appointments to announce in the near future. 

Sagman has over thirty years of mining experience including the design, development, commissioning and management of both open pit and underground mining projects.             

Prior to joining Prophecy, he held the position of VP of technical services with Capstone Mining, where he was responsible for overseeing reserve estimates, prefeasibility studies, and improvement of technical processes. 

Specifically, Sagman led phase V and phase VI prefeasibility studies at the Minto copper-gold mine approximately 150km northeast from Prophecy's Wellgreen deposit in the Yukon. 

Prophecy noted that Minto is an open pit mine that produced 37 million pounds of copper in 2011.                 

Sagman has also held roles at Vale Inco and Xstrata Nickel. 

At Vale, he was the senior project manager for the Tottten Nickel-copper-PGM mine in Sudbury, Ontario - around 30km east of Prophecy's Shakespeare mine. 

Prior to Vale and Xstrate, Sagman spent 10 years with Placer Dome, acting as senior mining engineer at the Gibraltar open pit mine. 

"His extensive experience developing, building and operating Nickel-PGM and open pit mines in northern climates will be invaluable to Prophecy as it continues the development of the Wellgreen Project in the Yukon," Prophecy said in a statement. 

Last month, the Vancouver-based company said it hired engineering consultants to start environmental baselines studies this fall at its Wellgreen platinum group metals-Nickel-copper project in the southwestern part of Yukon.

The company said it signed a contract with EBA Engineering Consultants, a Tetra Tech company from Whitehorse, to carry out the work, which will include the collection of meteorological data, surface water quality and analysis of recent wildlife studies. 

The platinum miner noted that the Yukon Enivronment and Socio-economic Assessment Board requires roughly two years of baseline data as part of the overall quartz mining permit application - which Prophecy aims to submit by 2015. 

Prophecy's Wellgreen is located in the south west of Canada's mining-friendly Yukon Territory, approximately 35 kilometres northwest of the airstrip at Burwash Landing, just 15 km from the Alaska Highway and 402 km from the deep sea port of Haines in Alaska.

A July 2011, NI 43 101-compliant report provides a resource estimate of 289 million tonnes in the inferred category with grades of 0.38% Nickel, 0.35% copper, 1.18 grams per tonne (g/t) PGM and gold, and 14 million tonnes in the indicated category at 0.69%Nickel, 0.62% copper, 2.25 g/t PGM and gold.

In June, Prophecy Platinum released the PEA for the project, which showed Wellgreen had a net present value of $3.0 billion.

The economic report, prepared by Tetra Tech, evaluated a base case open pit mine at an 111,500 tonne per day mining rate, and an onsite concentrator at a 32,000 tonne per day milling rate. 

The project is expected to produce 1.959 billion pounds of Nickel in concentrate, 2.058 billion pounds of copper and 7.119 million ounces of platinum plus palladium plus gold over a 37-year mine life, with an average strip ratio of 2.57.

Aside from Wellgreen, Prophecy also holds the Shakespeare platinum group metals-Nickel-copper project in Ontario, and its Lynn Lake project in Manitoba.

New Zealand Energy moves CFO role to New Zealand

Vancouver-based New Zealand Energy Corp. (CVE:NZ)(OTCQX:NZERF) says it is moving the chief financial officer role to New Zealand to allow for closer interaction with the company's technical and accounting teams. 

John Hudson, the New Zealand-focused oil and gas company's group financial controller located in New Plymouth, New Zealand, has assumed the role of interim CFO, while it conducts an executive search for a New Zealand-based CFO. 

The prior CFO at the Vancouver-based company was Jeff Redmond. 

Earlier this week, the company said it has achieved target depth in its Waitapu-2 well, located in the Taranaki Basin of New Zealand's North Island. 

The oil and gas producer said it also evaluated open hole logs and commenced casing Waitapu-2 with completion to follow.

Last month, the company said results from the Waitapu-1 well, where open hole logs showed around 30 metres of gross pay in the Mt. Messenger formation as well as oil and gas shows in the shallower Urenui formation, are expected by the end of the month.

The newly-established Waitapu site sits approximately 1.3 kilometres south of the company's Copper Moki site in the Taranaki Basin, where it has three producing wells.  

New Zealand Energy’s property portfolio covers nearly two million acres of prospects in the Taranaki Basin and East Coast Basin of New Zealand’s North Island. 

In October, the company almost doubled its oil reserves estimate for its wells on the Eltham Permit in the Taranaki Basin. The oil and gas producer announced an updated reserve and resource estimate based on a report prepared by Deloitte & Touche, which also saw a 172 per cent increase in proved + probable + possible (3P) natural gas reserves. 

Light and medium oil 3P reserves rose to 625.6 thousand barrels of oil, while natural gas 3P reserves increased to 1,551.2 million cubic feet of natural gas. 

A large chunk of its properties are located in the Taranaki Basin, which is situated on the west coast of the North Island and is currently the country's only oil and gas producing basin, producing roughly 130,000 barrels of oil per day from 18 fields.

Curis Resources draws second tranche of loan for phase 1 operations at Florence copper project in Arizona, PFS on track

Curis Resources (TSE:CUV) says it has received an early release of the second tranche of funding from its US$40 million senior secured loan facility from RK Mine Finance Trust (Red Kite). 

This came after the company got its Arizona Aquifer Protection Permit for its phase 1 operations at its Florence copper project in Arizona. 

The funding will be used for the purchase of copper processing equipment and to finance infrastructure and site improvement activities. 

The permit the company received in late September authorizes the construction, operation and closure of a 24-well in-situ copper recovery operation - phase 1 - at the project in Florence, Arizona.

The recovery operation will be accompanied by an art solvent extraction/electrowinning facility that is designed to produce 99.999% pure copper cathode sheets. 

The in-situ recovery process requires no movement of rock or overburden, and there is therefore a substantially smaller footprint, with much less of an environmental impact on the surrounding area than with more traditional open pit mining operations. 

The technique also requires substantially less mechanical energy in the form of trucks and explosives, and therefore generates significantly lower operating and capital costs.

According to the latest timeline, the company could begin full commercial production by early 2015, after which it expects to produce between 55 and 84 million pounds of copper per year.

"Phase 1 development of the Florence Copper project is fully funded with  the support of Red Kite," said Curis president and CEO Michael McPhie. 

"With the receipt of the key State of Arizona operating permit in  September and the second tranche of funding from Red Kite now in place,  we can complete our purchase of copper processing equipment and  initiate infrastructure and site improvement activities."

In May, Curis inked a US$40 million senior  secured bridge loan facility and copper cathode off-take agreement with Red Kite. When the deal was signed, it drew down US$16.2 million, and recently drew down another US$6 million following the receipt of the key permit. 

Last month, the Vancouver-based miner unveiled updated metallurgical results on samples from its Florence copper property, showing an average copper extraction rate of 61 per cent - higher than the rate used in prior modelling. 

The company said that 16 in-situ recovery tests were done, with copper extraction ranging from 33 to 89 per cent. 

"A significant amount is being invested locally in the town of Florence  and in Pinal County, Arizona, providing the opportunity for new jobs,  and further reinforcing Florence Copper's positive impact on the local  economy," concluded McPhie. 

Feasibility level optimization and design studies for Florence are progressing, with a prefeasibility study slated for release in the fourth quarter. 

Site and infrastructure improvements in support of phase 1 operations have now begun, the company said.

Rathdowney Resources closes $350,000 financing with Teck Resources

Rathdowney Resources (CVE:RTH) says it has closed a C$350,000 non-brokered private placement financing withTeck Resources (TSE:TCK.B) announced last month. 

The offering consisted of 700,000 common shares at 50 cents each.

The miner said the new funds will be used for general working capital. 

In October, Vancouver-based Rathdowney said it optioned out 31 of its prospecting licenses in the Irish Midlands zinc-lead district to Teck Resources' Irish subsidiary. 

The licenses comprise the Westmeath South, Westmeath North, Galway, Laois, Longford and Meath properties in Ireland. 

"Rathdowney's work on these prospecting licenses in Ireland has provided  a solid platform for Teck Ireland to advance exploration and include in  its regional geophysical surveys, targeting major concealed zinc-lead  mineralizing systems," said Rathdowney's CEO and president, John Barry, in a statement at the time.

The Teck subsidiary has the option to acquire a 100 per cent interest in the prospecting licenses by spending C$4.39 million on or before December  31, 2016.  

Rathdowney will retain a 2 per cent net smelter returns royalty on minerals extracted from the areas covered by the licenses. 

Rathdowney retained a significant participation in any major economic discovery, while also being able to focus its current  resources on the Project Olza zinc-lead project in Poland.

The private placement was part of the option deal, and took place once approval from the deal was received from the Ministry in Ireland. 

The junior zinc and lead explorer is focused on its Olza project in Poland, located in the prolific Upper Silesian Mineral District, an area of extensive Mississippi Valley-type deposits in which zinc-lead mining has taken place since the 12th century.

In September, Rathdowney was granted a third exploration concession, expanding its Olza zinc-lead property to now cover some 150 square kilometres. The third concession, called Chechlo, covers 50.8 square kilometres and is next to the company's Rokitno concession. 

Sunridge Gold says Asmara feasibility study on track for Q2, to focus on earlier cash flow and lower initial capital costs

Sunridge Gold Corp. (CVE:SGC) (OTCQX:SGCNF) provided Thursday an update on its feasibility study for the Asmara project in Eritrea, which is still on track to be wrapped up in the second quarter of next year. 

The company recently closed a $10.8 million financing, which allows it to maintain work on the study at "full speed" and complete the work on schedule, it said. 

The study started in April of this year, just prior to the release of the prefeasibility study, which showed that all four deposits at the property could be processed in a single central processing plant. 

The feasibility study will also consider using a centralized plant using flotation for recovery of the base metals, but in order to boost economics and reduce capital costs, some processing trade-off studies showed more "optimum economic scenarios". 

Based on new metallurgical testwork, the feasibility study will now include early mining of the direct shipping ore (DSO) from Debarwa, and early heap-leaching of the surface gold material from the project, Sunridge said, allowing more revenue to be generated earlier. 

As a result, cash flow is expected a year earlier than presented in the prefeasibility study, now anticipated in 2015. 

Initial capital costs are also anticipated to be lower due to the new operating scenarios, and overall economics are expected to be enhanced when compared to the preliminary report. 

The DSO Zone is located within the supergene copper zone of the Debarwa deposit and contains 116,000 tonnes of high grade material at an average grade of 16% copper, 3.0g/t gold and 77.0g/t silver. 

The Asmara project consists of four mineral deposits, the Emba Derho, Debarwa and Adi Nefas copper-zinc-gold and silver deposits, and the Gupo gold deposit, all located within 40 kilometres of the capital city of Asmara. 

The results of the preliminary feasibility study that was announced in May showed production of 365,000 tonnes of copper, 812,000 tonnes of zinc, 415,000 ounces of gold and 11 million ounces of silver over a 15.25 year mine life. 

The economic analysis, using 5-year average metal prices and a 10 per cent discount rate, showed the project to have a pre-tax net present value of $555 million and an internal rate of return of 27 per cent.

Work for the feasibility study, which started in April, included drilling for metallurgical samples on the Emba Derho deposit, as well as geotechnical drilling near the proposed Emba Derho pit and at proposed plant facilities. 

The metallurgical work on the gold material from the gold caps supported heap leach production, showing between 51 to 71 per cent gold recovery.

"This is an improvement to the gold processing plan in the PFS which outlined a Carbon in Pulp (CIP) facility which would have stockpiled the material from the gold caps and processed it at the end of the mine life," Sunridge said in a statement. 

The feasibility study is being done by Senet, based in Johannesburg, South Africa. 

Capital markets firm Ocean Equities released a comment based on the news today: "The enhancements to the mine plan and scheduling of the Asmara project are positive for the company in that the early selective mining and shipping of the DSO from the Debarwa deposit and the early heap leaching of the gold zones means that the project could provide earlier cashflow than was originally intended, and a reduction in the initial capital expenditure than what was previously estimated in the PFS."

"Prior to completion of the Asmara project feasibility study we expect Sunridge to produce a maiden resource statement on the Company’s Adi Rassi deposit which has the potential to be the company’s second largest deposit."

In separate news, the company said it is in negotiations for Eritrean National Mining Corp to purchase a 30 per cent working interest in the Asmara project. Once this is wrapped up, Eritrean National Mining Corp will have a 10 per cent carried interest and a 30 per cent working interest, and will be responsible for funding one third of the cost of operations, which could include a portion of the study.