MicroCaPicks

Orezone Sells Sega Project to Cluff Gold for $29.6M

admin — Fri, 03 Feb 2012 18:53:00 +0000

Orezone Sells Sega Project to Cluff Gold for $29.6M

February 3, 2012

February 3, 2012 - Orezone Gold Corporation (ORE:TSX) (“Orezone” or the “Company”) is pleased to announce that it has signed a definitive agreement with Cluff Gold plc (Cluff) for the sale and transfer of the Sega Project in Burkina Faso to Cluff for a total consideration of approximately US $29.6M. Under the terms of the agreement, Cluff will acquire the Tiba and Namassa exploration permits, covering an area of approximately 313km², from Orezone’s wholly owned subsidiary Orezone Inc. (BVI), in exchange for US $15M in cash and 11M new common shares of Cluff (the “Transaction”). This will result in Orezone Inc. (BVI) owning approximately 7.7% of Cluff’s issued and outstanding common shares. The Transaction is subject to a number of conditions, including approval from the Government of Burkina Faso for the transfer of the exploration permits. The Company anticipates closing the Transaction by the end of Q1 2012.

The Sega project currently hosts NI 43-101 compliant Indicated gold resources of 450,366oz (8.3Mt at 1.69 g/t) and Inferred gold resources of 147,344oz (2.9Mt at 1.58g/t). Sega is strategically located adjacent to Cluff’s Kalsaka mine, approximately 150 km northwest of the capital of Burkina Faso. The Transaction will allow Cluff to increase the mine life of Kalsaka and potentially increase the production profile for the entire area. Sega can now be put into production much sooner than anticipated, which will benefit Cluff and the people of Burkina Faso.

“This Transaction adds significant value for both Orezone and Cluff and will provide more immediate cash flow for the government of Burkina Faso”, commented Ron Little, CEO of Orezone. “The sale provides Orezone with a significant non-dilutive financing to advance the development of its Bomboré gold project while still allowing the opportunity to participate in the upside at Sega through an equity interest in Cluff”.

“The acquisition of Sega gives Cluff Gold the opportunity to significantly increase the Kalsaka mine life with limited upfront expenditure, and enhances the potential for our Burkina Faso operations to continue to provide significant cash flow through the development and early production from our flagship development asset, Baomahun in Sierra Leone,” commented Peter Spivey, Chief Executive of Cluff Gold. “This transaction brings us closer to establishing Cluff Gold as a leading West African focused gold producer.”

About Orezone Gold Corporation

Orezone is a Canadian company with a gold discovery track record of +10 M oz and recent mine development experience in Burkina Faso, West Africa. Bomboré, the Company’s 100% owned flagship project, is one of the largest gold deposits in the country and is situated 85 km east of the capital city, adjacent to an international highway. Resources are constrained within optimized open pit shells that span 11 km, and include 1.6 Moz indicated (60.9 Mt @ 0.81 g/t) and 1.9 Moz inferred resources (60.6 Mt @ 0.96 g/t) with an average drill depth of only 60 meters. The Company is currently completing a 215,000 m drill program to significantly expand resources and support the completion of feasibility studies in 2012. Orezone’s goal is to develop Bomboré into a world-class deposit by the end of 2012 and become a mid-tier producer by 2015.

For further information please contact Orezone at (613) 241‑3699 or Toll Free: (888) 673‑0663

Ron Little, CEO, rlittle@orezone.com Sean Homuth, CFO, shomuth@orezone.com

FORWARD-LOOKING STATEMENTS AND FORWARD-LOOKING INFORMATION: This news release contains certain “forward-looking statements” within the meaning of applicable Canadian securities laws. Forward-looking statements and forward-looking information are frequently characterized by words such as “plan,” “expect,” “project,” “intend,” “believe,” “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may” or “will” occur. Forward-looking statements in this release include statements regarding, among others, the completion of the Transaction by the end of Q1 2012, the completion of a 215,000 m drill program; capital and operating cost estimates; gold production for the project; completion of a definitive feasibility study in Q4 2012; completion of a resource update in Q2 2012; commencement of production at the Bomboré Project; and completion of metallurgical testing and social impact studies.

FORWARD-LOOKING STATEMENTS are based on certain assumptions, the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. These factors include the inherent risks involved in the exploration and development of mineral properties, the uncertainties involved in interpreting drilling results and other geological data, fluctuating metal prices, the possibility of project cost overruns or unanticipated costs and expenses, the ability of contracted parties (including laboratories and drill companies to provide services as contracted); uncertainties relating to the availability and costs of financing needed in the future and other factors. The Company undertakes no obligation to update forward-looking statements if circumstances or management’s estimates or opinions should change. The reader is cautioned not to place undue reliance on forward-looking statements. Comparisons between any resource model or estimates with the subsequent drill results are preliminary in nature and should not be relied upon as potential qualified changes to any future resource updates or estimates.

Readers are advised that National Instrument 43‑101 of the Canadian Securities Administrators requires that each category of mineral reserves and mineral resources be reported separately. Readers should refer to the annual information form of Orezone for the year ended December 31, 2010 and other continuous disclosure documents filed by Orezone since January 1, 2011 available at www.sedar.com, for this detailed information, which is subject to the qualifications and notes set forth therein

Ucore Releases Rare Earth Mobile Applications

admin — Thu, 02 Feb 2012 14:41:22 +0000

HALIFAX, NOVA SCOTIA — (Marketwire) — 02/02/12 — Ucore Rare Metals Inc. (TSX VENTURE:UCU)(OTCQX:UURAF) (“Ucore” or the “Company”) is pleased to announce the release of two mobile software applications (“Apps”) that will introduce and educate investors regarding historical and current uses of Rare Earth Elements, while providing additional up to date information on international REE market prices. The free Apps are now available for both Apple (iOS) and Android devices. Visitors can learn more about these applications on the Ucore website at http://ucore.com/apps.

“In developing relationships with end users and other participants in the REE space, Ucore became aware of the desire and need for readily available price and reference info across the entire lanthanide suite,” said Jim McKenzie, President and CEO of Ucore. “Rare Earths are a hot topic and we wanted to create a platform for users to learn just how vital these critical technology metals are to the future of our economy, while giving investors the tools to make informed investment decisions in the sector.”

“These mobile Apps have been developed by our in-house team,” continued McKenzie. “Much of the research material has been utilized by Ucore for internal planning and economic assessment purposes, and we’re now pleased to offer the collateral data and market information as a service to Ucore investors and the REE community at large.”

The rare earth reference and educational information contained in the software has been developed internally by Ucore personnel. Specific REE pricing data applicable to the mobile Apps has been furnished by Asian Metals, a leader in the provision of current specialty metals economic data. Ucore has partnered with Asian Metals for these innovative Apps primarily due to the currency of the data, which reflects actual transactional prices as opposed to speculative spot prices. Asian Metals has been compiling market based data via their Beijing office for over 12 years and have a very close relationship with producers and traders of rare earths.

The Ucore Rare Earth educational and information iPad App has been in beta phase since August, 2011, and has already garnered in excess of 3,000 downloads on the Apple App Store. The finalized iPad App will now be available for free to investors, educational institutions and the general public. For more information, please visit http://ucore.com/apps or contact Mr. Byron Fillmore (Byron@ucore.com) for details.

Background

Ucore Rare Metals Inc. is a well-funded junior exploration company focused on establishing REE, uranium and other rare metal resources through exploration and property acquisition. With multiple projects across North America, Ucore’s primary focus is the 100% owned Bokan – Dotson ridge REE property in Alaska. The Bokan – Dotson ridge REE project is located 60 km southwest of Ketchikan, Alaska and 140 km northwest of Prince Rupert, British Columbia and has direct ocean access to the western seaboard and the Pacific Rim, a significant advantage in expediting mine production and limiting the capital costs associated with mine construction.

The Bokan properties are located in an area reserved for sustainable resource development with an existing road network providing access to the main target areas. REE mineralization at the Bokan-Dotson ridge project occurs in a well-demarcated vein system related to a Mesozoic Bokan peralkaline granitic complex. However, a number of other occurrences of REE mineralization are also located within, or at the margins of the complex. Viewed in a geological and geophysical context, the Bokan complex is a distinctive circular structure and is highly prospective for rare earths deposits.

Contacts:
Ucore Rare Metals Inc.
Mr. Jim McKenzie
President and Chief Executive Officer
(902) 482-5214
www.ucore.com

Source: Marketwire (February 2, 2012 – 6:30 AM EST)

Strathmore Minerals Sells $8 million In Shares (13.9%) to Korean Electric At .55

admin — Thu, 02 Feb 2012 14:27:00 +0000

MY NOTE: Deal Done At .55 … Stock Is Trading At .48 … Good Deal For Shareholders

Strathmore Minerals Corp. (TSX:STM) is raising $8 million by selling 13.9 per cent of the company to Korea Electric Power Corp.

Under the agreement, Strathmore is selling the Korean company almost 14.6 million shares at 55 cents each.

Strathmore says the proceeds will allow it to develop its Gas Hills Uranium properties in Wyoming.

In addition, the agreement contains a provision whereby KEPCO has the right to buy a portion of any future annual uranium production from Strathmore’s properties.

Future off-take uranium purchases shall be determined by KEPCO’s equity ownership in Strathmore.

“Strathmore is pleased to welcome KEPCO as a new valued shareholder and partner,” said Strathmore CEO David Miller.

“KEPCO is known for their leadership and foresight in providing long-term solutions for the development of safe and reliable nuclear power.”

Past Producer + Open Pit + Queenston Mining Is A Major Investor: Must Watch

admin — Thu, 02 Feb 2012 13:59:00 +0000

The Omega Gold Property is located in Larder Lake, Ontario approximately 18 miles east of Kirkland Lake, and 4 miles west of Kerr Addison a former mine that produced in excess of 10 million ounces of gold. The Omega Property and Kerr Addison both are situated on the Larder Lake Cadillac fault system. This system has produced over 40 million ounces of gold just in the Kirkland/Larder Lake area and is still a productive wealthy mining camp.

Drilling highlights

Hole OM-11-53from 492 m to 499m 4.889 g/t Au over 7 metres (including 7.730 g/t au over 4 m)

Hole OM-11-64from 697 m to 709m 1.845 g/t Au over 12 metres (including 2.354 g/t Au over 7 m)

OM-11-632.66 g/t gold over 24 metres(including 13.44 g/t over 4 metres)

To date a total of 66 drill holes have been completed consisting of 17,352 metres. Magnetic, IP and geochemical surveys have been completed on the mine group and the Lake claim along with limited trenching which outlined wide areas of disseminated type material containing sulphides, galena, molybdenite and anomalous gold.Additional work is required to fully evaluate this area.

OTHER PROPERTIES IN KIRKLAND LAKE

Kirkland West

7 km of the Kirkland Larder Lake fault zones cross this property. One past producer (Baldwin Mine)

Sackville Property, VMS/Gold Thunder Bay

Sackville Property, High Grade boulders found containing Zinc, Gold and Silver. Work is ongoing. 43-101 report available. We continue to search for the source of the High Grade VMS boulders. An exploration program was completed in summer 2010. An Intense Geochemical survey followed by drilling is to be completed by 2011 year end.

Casa Berardi, VMS/Gold Quebec

Large land holdings covering the Casa Berardi fault zone. Several low grade gold zones located to date. The potential of the property has a historical background with producing mines nearby. Due to the terrain exploration on this property will be carried out during the winter.

Microvision shuts down online store

admin — Wed, 01 Feb 2012 17:17:59 +0000

This is actually a positive move…

“On February 1st, 2012 MicroVision will be closing our online store.”

“We decided to close our online store based on high demand for MicroVision products across the globe and our ability to leverage strategic distribution networks in over 120 countries worldwide.”

http://www.microvision.com/displayground/uncategorized/times-are-a-changin/

(thanks to Tetrimbath, IV MVIS board)