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MetaPower International, Inc. (MTPR: OTC Pink Current) | MetaPower International, Inc. Announces Layoffs

MetaPower International, Inc. Announces Layoffs

Apr 23, 2014

OTC Disclosure News Service

– MetaPower International, Inc. Announces Layoffs

LAS VEGAS, NV–(Marketwired – Apr 23, 2014) – MetaPower International, Inc. (OTC Pink: MTPR) (PINKSHEETS: MTPR) (the “Company”) announces staff layoffs. Included in the layoffs are the President and CEO, Rande Bruhn and Executive Vice President of Business Development, Edwin Gibson. However, Messrs. Bruhn and Gibson will continue to serve the Company as members of its Board of Directors and Mr. Gibson will continue as the non-executive Chairman of the Board of Directors. Messrs. Bruhn and Gibson will also continue some of their work for the Company as consultants. The total number of employees laid off is fourteen. The current Chief Operating Officer, John E. Prouty, has been elected as the President and Chief Executive Officer of MetaPower International, Inc. effective Tuesday, April 22, 2014. Mr. Prouty was also elected President and Chief Executive Officer of the Company’s wholly owned subsidiary, MetaPower, Inc., and its wholly owned subsidiary, MetaPower Canada, Ltd., both also effective April 22, 2014.

This action was taken as the result of a projected decline in revenues which the Company expects to begin in the third quarter of 2014.

About MetaPower International, Inc.:

MetaPower International, Inc. uses information technology and change management services to help companies achieve sustainable results. Through culturally aligned training, tools and techniques, our experts align business processes with management’s strategic priorities. Client solutions include workforce culture assessment, as well as best-practice modules compiled for such industry applications as Process Safety Management. MetaPower was founded in 1996.

This press release contains “forward-looking statements.” Forward-looking statements are statements concerning plans, objectives, goals, strategies, expectations, intentions, projections, developments, future events, or performance, underlying (expressed or implied) assumptions and other statements that are other than historical facts. These forward-looking statements are only predictions. No assurances can be given that such predictions will prove correct. Actual events or results may differ materially. Forward-looking statements should be read in light of the cautionary statements and risks that include, but are not limited to, the risks associated with a small company, our comparatively limited financial resources, and other factors that may adversely impact us. These or other risks could cause actual results to differ materially from the future results indicated or implied in such forward-looking statements. We undertake no obligation to update or revise such statements to reflect events, circumstances, or new information after the date of this press release or to reflect the occurrence of unanticipated or other subsequent events.

Contact:
Steve Ivy
360-450-4209
www.metapower.com

Copyright © 2014 Marketwired. All Rights Reserved

The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.

Article source: http://www.otcmarkets.com/stock/MTPR/news?id=79443

Crocodile Gold Corp. (CROCF: OTCQX International) | Crocodile Gold Produces 53,583 Ounces of Gold in the First Quarter of 2014

TORONTO, ONTARIO–(Marketwired – Apr 23, 2014) – Crocodile Gold Corp. (TSX:CRK)(TSX:CRK.DB)(TSX:CRK.WT)(OTCQX:CROCF)(FRANKFURT:XGC) (“Crocodile Gold” or the “Company”) reports on its production results for the first quarter of 2014. Related financial details for the first quarter are planned for release in May.

First Quarter Production Highlights

  • Consolidated operations achieved gold production of 53,583 ounces with 678,821 tonnes of ore processed in the first quarter – a 9.5% increase in gold production when compared to Q1 2013.
  • Gold production is on track to meet guidance of 200,000 to 210,000 ounces for 2014.
  • The Cosmo Gold Mine successfully completed the previously announced change over to the new underground mining contractor in late March.
  • The Stawell Gold Mine’s Big Hill Enhanced Development Project has taken a significant step forward with the release the related Environmental Effects Statement (EES) in for public review.
  • The Company ended the quarter with a preliminary cash balance of $38.0M and working capital of approximately $28.3M. The Company also fully settled its outstanding credit facility with Credit Suisse during Q1.

Consolidated Operational Summary

Q1 2014
Q1 2013
Q4 2013
Ore Milled (t)
678,821
555,286
617,945
Average Recovery (%)
83.2%
84.8%
86.4%
Average Grade (g/t Au)
2.92
3.26
3.36
Ounces Produced (oz)
53,583
48,953
58,276

Rodney Lamond, President and CEO of Crocodile Gold, commented: “Crocodile Gold has started the year continuing the positive trends that were established in 2013 with production of over 53,000 ounces of gold in the first quarter of 2014. With these results, I am pleased to report that we are well on our way to meeting our 2014 guidance of between 200,000 and 210,000 ounces of gold. We ended the quarter with a strong cash balance and were able to settle our remaining outstanding facility with Credit Suisse.” Mr. Lamond continued: “I would like to highlight the work of our team at the Cosmo Gold Mine and that the transition to our new mining contractor was a success. The team continued operations and moved a significant amount of ore in light of a mining contractor transition. At our Fosterville Gold Mine, I am very encouraged by the exploration results that will ensure the extension of the mine life for the operation and the Company continues to work on an updated mineral reserve and resource estimate for the site. In addition, the Big Hill Enhanced Development Project took a significant step forward with the release the related Environmental Effects Statement (EES) in for public review. The Company is committed to moving Big Hill forward as one of our most important growth projects for 2014 and the release of the EES is a key milestone.”

Cosmo Gold Mine

In late March 2014, the Cosmo Gold Mine transitioned its mining contractor to Downer EDI (see news release from February 3, 2014). All critical gear and staffing are now in place and operating at targeted levels, and while there were some operational challenges in the early part of the transition which impacted mine productivity, the new contractor has quickly met or exceeded performance indicators with target run rates achieved by the third day after changeover. The Cosmo Gold Mine continued to operate at a consistent level posting underground ore production of 180,047 tonnes of ore during Q1 at an average grade of 3.36 g/t Au. Development during the quarter advanced at an average rate of 398 metres per month.

Tonnes milled in the first quarter were 230,815 tonnes of ore at an average grade of 2.79 g/t Au and recovery rate of 85.9%, for total gold production of 17,841 ounces of gold. Underground ore was supplemented with approximately 55,500 tonnes of lower-grade oxide material from an exploration property for reclamation purposes. The stockpile had a lower than estimated grade, which also impacted the recovery rate. The material was fully processed in Q1, and the related potential environmental liability has been reduced.

Fosterville Gold Mine

The Fosterville Gold Mine had a strong start to the year with underground ore production of 206,540 tonnes at an average grade of 3.76 g/t Au, with higher tonnes offsetting lower grades. Fosterville drew on higher grade stockpiles to process 220,379 tonnes of ore at a grade of 4.32 g/t Au with a recovery rate of 84.3%, resulting in gold production of 25,786 ounces in the first quarter. Mine development continued at an average advance rate of 618 metres per month with a strong advance of 662 metres in March as the site pushes to open up more mining fronts. Exploration on the Phoenix and Central ore bodies had encouraging results (see news release of March 12, 2014) and the Company is preparing a Mineral Resource and Reserve Estimate with the anticipation that additional mineral resources identified will continue to extend the mine life of Fosterville.

Stawell Gold Mine

The Stawell Gold Mine continues to focus on the upper levels of the mine, accessing remnant mining areas supplemented with stockpiled oxide materials. During the quarter Stawell mined 141,126 tonnes of underground ore at an average grade of 2.49 g/t Au. The Stawell Mill processed a total of 227,627 tonnes at an average grade of 1.71 g/t Au, as underground ore was supplemented by lower grade surface oxide stockpiles. An average recovery rate of 79.4% resulted in gold production of 9,956 ounces for the quarter.

Update on the Big Hill Project

In April 2014, Crocodile Gold released the Environmental Effects Statement (EES) for the Big Hill Enhanced Development Project (the “Project”). The EES is a significant part of the permitting process and will form the basis of the Ministerial assessment of the Project expected later in 2014. The EES is available for public review and comment; access to the complete document has been made available on the Company’s website at www.crocgold.com.

Cash Balance and Working Capital Position

At the end of the first quarter of 2014, Crocodile Gold had a preliminary cash balance of $38.0 million and working capital of approximately $28.3 million. In February 2014, the Company fully settled its outstanding credit facility with Credit Suisse.

As disclosed in the December 31, 2013 audited annual financial statements, the Company and AuRico Gold Inc. engaged an independent expert to determine the treatment of certain financial transactions in the net free cash flow sharing arrangement that exists between the two parties. On April 14, the independent expert concluded that such items were to be included in the calculation of contingent payments. The Company has reviewed the report and determined that no contingent payments are currently payable under the agreement and that based on current plans and gold prices, no portion of the contingent consideration will be classified as current.

About Crocodile Gold

Crocodile Gold is a Canadian gold mining and exploration company with three operating mines in Australia, in the State of Victoria and the Northern Territory. The Company also has a combined land package in excess of 4,000 sq. km. Crocodile Gold is focused on sustainable production from its three operating mines, Cosmo, Stawell and Fosterville, while also exploring and developing the Company’s assets to ensure continued production in the future. For additional information, please visit our website www.crocgold.com.

Follow us on Twitter @crocgold_crk or on Facebook at /CrocodileGoldCorp.

Qualified Person

F. W. Nielsen, P.Geo., a technical consultant to Crocodile Gold Corp., is a “qualified person” as such term is defined in National Instrument 43-101 and has reviewed and approved the technical information and data included in this press release.

Cautionary Note

Certain information set forth in this press release contains “forward-looking statements”, and “forward-looking information under applicable securities laws. Except for statements of historical fact, certain information contained herein constitutes forward-looking statements, which include the Company’s expectations for future performance based on current drill results and past production, expected gold prices, and mineral resource estimates, and are based on Crocodile Gold’s current internal expectations, estimates, projections, assumptions and beliefs, which may prove to be incorrect. Some of the forward-looking statements may be identified by words such as “expects”, “anticipates”, “believes”, “projects”, “plans”, and similar expressions. These statements are not guarantees of future performance and undue reliance should not be placed on them. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause Crocodile Gold’s actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to: liabilities inherent in mine development and production; geological, mining and processing technical problems; Crocodile Gold’s inability to obtain required mine licences, mine permits and regulatory approvals required in connection with mining and mineral processing operations; competition for, among other things, capital, acquisitions of reserves, undeveloped lands and skilled personnel; incorrect assessments of the value of acquisitions; changes in commodity prices and exchange rates; currency and interest rate fluctuations; various events that could disrupt operations and/or the transportation of mineral products, including labour stoppages and severe weather conditions; the demand for and availability of rail, port and other transportation services; the ability to secure adequate financing and management’s ability to anticipate and manage the foregoing factors and risks. There can be no assurance that forward-looking statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Crocodile Gold undertakes no obligation to update forward-looking statements if circumstances or management’s estimates or opinions should change except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking statements.

Article source: http://www.otcmarkets.com/stock/CROCF/news?id=79435

AmeraMex International Inc. (AMMX: OTC Pink Limited) | AmeraMex International Receives Additional $486,000 Rental Equipment Agreement Increasing Rental Revenue to $1.3 Million

CHICO, Calif., April 23, 2014 (GLOBE NEWSWIRE) — AmeraMex International, Inc. (OTC:AMMX), a provider of heavy equipment for logistics companies (stevedoring/shipping), infrastructure construction, logging and mining companies, announced that it has entered into a second twelve-month equipment rental agreement with a west coast logistics company.

Under the terms of the new twelve-month agreement, AmeraMex will provide the logistics company three additional loaded container handlers netting the company approximately $486,000 over the initial twelve-month period. March 26, 2014, the logistics company entered into an agreement to rent equipment generating approximately $648,000 for the life of the initial twelve-month agreement. The seven handlers, including delivery and return, will generate total revenue of $1.3 million over a twelve-month period.

The refurbished loaded container handlers are capable of stacking loaded shipping containers four high in dock storage areas and are valued at approximately $220,000 each. At the end of the rental agreement each handlers will retain a resale value of approximately $200,000. The container handlers were purchased September 2013 and refurbished at the AmeraMex facility in Chico, California. The company has one container handler remaining in inventory from the September purchase.

About AmeraMex International

AmeraMex International sells, leases and rents heavy equipment to companies within four industries:  construction (light and infrastructure), shipping logistics, mining and commercial farming. AmeraMex, with customers in the Americas, Africa, Asia and Eastern Europe, has over 30 years of experience in heavy equipment sales and service and inventories top-of-the-line equipment from manufacturers such as Taylor Machine Works Inc. and Terex Heavy Equipment. For more information visit the AmeraMex website, www.AMMX.net or www.hamreequipment.com.

Safe Harbor Statement

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and as such, may involve risks and uncertainties. Forward-looking statements, which are based on certain assumptions and describe future plans, strategies, and expectations, are generally identifiable by the use of words such as “believe,” “expect,” “intend,” “anticipate,” “estimate,” “project,” or similar expressions. These forward-looking statements relate to, among other things, expectations of the business environment in which the Company operates, projections of future performance, potential future performance, perceived opportunities in the market, and statements regarding the Company’s mission and vision. The Company’s actual results, performance, and achievements may differ materially from the results, performance, and achievements expressed or implied in such forward-looking statements.

CONTACT: Investor and Media Relations
         McCloud Communications, LLC
         Marty Tullio, Managing Member
         Office: 949.632.1900
         Marty@McCloudCommunications.com

Article source: http://www.otcmarkets.com/stock/AMMX/news?id=79395

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