The shareprice of NYMOX Pharmaceutical {NASDAQ: NYMX} has virtually tripled in the past week!

News released on Wednesday that NYMOX are continuing further analysis for Phase 3 studies does not seem good enough on its own to support such a parabolic rise.

After a torrid last year or so, during which time the company reported poor news, and the shareprice fell from $5 to around 30c, one wonders why the NYMOX share price has suddenly spiked now, on no apparent good news to support it.?

Opening trading on Monday at 60c, in a week only containing four trading days they closed at $1.73, virtually a 200% rise.

On Wednesday NYMOX announced that is undertaking further analysis of its pivotal Phase 3 studies of NX-1207 for prostate enlargement (BPH), which will include new long-term data from their studies NX02-0017, and NX02-0018. This news alone does not seem to support such a rise in Shareprice.

NYMOX expects to provide the results for these new pivotal Phase 3 study results Q2 or Q3 2015. The NX02-0017 and NX02-0018 studies were initiated in 2009,  NX02-0017 completed in 2012, and NX02-0018 in 2013.

Sadly, at 12 months post-treatment there was no overall top-line statistical significance for the efficacy of treatment in terms of BPH Symptom Score improvement versus controls. One positive was that the safety profile of NX-1207 was excellent.
Dr. Paul Averback, CEO of Nymox, commented “Despite the setback of top-line results not initially beating controls statistically at 12 months post-treatment in these large studies, we continue to believe that NX-1207 has enormous potential for long-term management of BPH. Additional new blinded protocol data from the same pivotal studies is being prospectively captured in order to assess long-term results in patients up to 5 years after a single injection of NX-1207 2.5 mg versus a placebo”.
Running concurrently, NX-1207 is also in late-stage development for low grade localized prostate cancer, where eight-month efficacy results showing statistically significant reduced cancer progression in patients who received NX-1207 compared to standard of care.

Neometals [ASX: NMT] confirmed it had receives and Australian Stock Exchange inquiry into the recent price and volume of the company’s  stock.

Neometals was queried today by the ASX in relation to an increase in price and volume of the Company’s securities.

The Company advised that as previously announced in its Investor Presentation dated 18 December 2014 and its Quarterly Report dated 16 January 2015, the Company has been working on a strategy to commercialise the Mt Marion Lithium Project.

The Company advises that its 70%-owned subsidiary, Reed Industrial Minerals Pty Ltd (“RIM”), is in discussions with potential counterparties regarding RIM’s Mt Marion Lithium Project.

The discussions relate to a potential transaction for:
• the acquisition by the counterparty of a minority equity stake in RIM (RIM is currently owned 70:30 by the Company and Mineral Resources Limited (“MIN”) (ASX: MIN)), diluting the existing shareholders’ interests pro rata;
• an offtake agreement between the counterparty and RIM in respect of spodumene produced from the Mt Marion Lithium Project.

If a transaction is agreed, it would represent a significant milestone in Neometals’ strategy to commence development of the Mt Marion Lithium Project and to transform RIM into a globally significant lithium concentrate producer and supplier to the lithium battery industry.

However, the discussions remain incomplete and non-binding and there is no certainty that a binding transaction will result.

The Company will keep shareholders informed of all material developments as and when they arise.

The Company’s full response can be viewed at this link:
http://www.neometals.com.au/reports/586-Price-Query-and-Response-150402.pdf

NYMOX Pharmaceutical (NASDAQ: NYMX} rather surprisingly announced today that despite previous setbacks, they are continuing with the phase 3 trial from their prostrate enlargement drug NX-1207.

CEO Paul Averback commented that management are “still confident that NX-1207 has long term potential in the treatment of BPH”.

NEWS RELEASE

Nymox Announces Phase 3 BPH Studies

HASBROUCK HEIGHTS, NJ –  Nymox Pharmaceutical Corporation {NASDAQ: NYMX} announced today that the Company is undertaking further analyses of its pivotal U.S. Phase 3 studies of NX-1207 for prostate enlargement (BPH).

This will include new long-term data from Studies NX02-0017 and NX02-0018. The
Company expects to provide these new pivotal Phase 3 study results in Q2 or early Q3 this year.

The pivotal U.S. studies NX02-0017 and NX02-0018 were initiated in 2009. Enrollment of NX02-0017 (499 patients randomized) was completed in 2012; enrollment of NX02-0018 (498 patients randomized) was completed in 2013. 973 patients were injected with either NX-1207 2.5 mg (n=582) or saline vehicle alone as control (n=391). At 12 months post-treatment there was no overall top-line statistical significance for the efficacy of treatment in terms of BPH Symptom Score improvement vs controls. The safety profile of NX-1207 was excellent.

Dr. Paul Averback, CEO of Nymox said, “Despite the setback of top-line results not initially beating controls statistically at 12 months post-treatment in these large studies, we continue to believe that NX-1207 has enormous potential for long-term management of BPH. Additional new blinded protocol data from the same pivotal studies is being prospectively captured in order to assess long-term results in patients up to 5 years after
a single injection of NX-1207 2.5 mg vs placebo.”

NX-1207 is also in late-stage development for low grade localized prostate cancer. In 2014 the Company reported 8 month efficacy results showing statistically significant reduced cancer progression in patients who received NX-1207 compared to standard of care.

For Further Information Contact:

Paul Averback
Nymox Pharmaceutical Corporation
1-800-93NYMOX

www.nymox.com

For more information please contact info@nymox.com or 800-936-9669.

This press release contains certain “forward-looking statements” as defined in the United States Private Securities Litigation Reform Act of 1995 that involve a
number of risks and uncertainties. There can be no assurance that such statements will prove to be accurate and the actual results and future events could differ
materially from management’s current expectations. Development of drug products involves substantial risks and actual results may differ materially from
expectations. Factors that could cause actual results or events to differ materially from those projected in forward-looking statements are detailed from time to
time in Nymox’s filings with the United States Securities and Exchange Commission and other regulatory authorities.

David Austin, President and CEO of Colonial Coal Int. {TSX.V: CAD} has confirmed his acquisition of 8.95 million shares in Colonial Coal as a result of the scheme of arrangement with Tuya Energy.

The scheme was recently approved by shareholders and the B.C. court.

Comment

This acquisition makes David Austin, the CEO, the single largest shareholder in Colonial Coal, with a holding of some 20 percent.

This aligns David’s interest directly with that of shareholders, and I see that as very positive, personally.

There aren’t many junior Canadian exploration and development companies where the President and CEO holds such a substantial percentage holding in the company, many CEO’s hold little or none at all!

News Release

2015-03-31  – Colonial investor acquires 8.95 million company shares

Mr. David Austin reports

COLONIAL COAL INTERNATIONAL CORP. — EARLY WARNING NEWS RELEASE

David Austin, of 200, 595 Howe St., Vancouver, B.C., V6C 3B6, has filed an early warning report dated March 31, 2015, advising of his holdings in Colonial Coal International Corp.

Mr. Austin has acquired beneficial ownership and control of 8.95 million common shares of Colonial, pursuant to a plan of arrangement between Colonial and Tuya Energy Inc. These shares represent 9.25 per cent of the issued and outstanding common shares of Colonial.

Mr. Austin now directly and indirectly has ownership and control over an aggregate of 19,101,700 common shares and 1.4 million options in the capital of Colonial representing 20.88 per cent of the issued and outstanding common shares of Colonial, assuming the exercise of the options held by Mr. Austin.

These shares were acquired pursuant to the arrangement, and Mr. Austin may acquire further securities of Colonial in the future.

The early warning report respecting this acquisition has been filed on the System for Electronic Document Analysis and Review under Colonial’s profile and can be viewed at SEDAR. To obtain a copy of the early warning report, please contact Mr. Austin at 604-568-4962.

Nymox Pharmaceutical Corp. {NSDAQ: NYMX} share price has risen sharply since the recently announced financing at 45 cents, and now stands at 66c.

Following their disastrous news release of some months ago where the stock dropped from over $5 to 40 cents, the stock is now showing some green shots of recovery.

Comment

It’s encouraging to see the shareprice recovering so soon after a 45c placing, and this augurs well for the future, as the stock is fighting back on no known news.

Clearly a long road ahead, but Nymox are still alive and kicking.

Below is a reminder of the recent news release.

Official news release

Nymox Announces Private Placements of US$400,000

2015-03-20  – News Release

HASBROUCK HEIGHTS, N.J., March 20, 2015– Nymox Pharmaceutical Corporation (Nasdaq:NYMX) announced today recent private placements of 883,058 shares, with total proceeds of US$400,000. An additional 441,529 warrants exercisable at $2.00 were included in the private placements.

For more information please contact info@nymox.com or 800-936-9669.

This press release contains certain “forward-looking statements” as defined in the United States Private Securities Litigation Reform Act of 1995 that involve a number of risks and uncertainties. There can be no assurance that such statements will prove to be accurate and the actual results and future events could differ materially from management’s current expectations. Development of drug products involves substantial risks and actual results may differ materially from expectations. Factors that could cause actual results or events to differ materially from those projected in forward-looking statements are detailed from time to time in Nymox’s filings with the United States Securities and Exchange Commission and other regulatory authorities.

CONTACT: Paul Averback
         Nymox Pharmaceutical Corporation
         1-800-93NYMOX
         www.nymox.com

Colonial Coal International Corp. {TSX.V:CAD} have confirmed that their plan of arrangement for Tuya Energy has been given court approval following the positive vote at the recent EGM.

As a result, Colonial Coal is now a more substantial company, with a larger resource, a good treasury, and the opportunity to add value via exploration, and acquisition.

Comment

This nod through from the courts came as expected, and  confirms that Colonial Coal have become a more substantial company,both in terms of treasury, and resources, and is now a larger player in the prolific B.C. coalfields as a result.

In the current market,this move was clearlythe right decision in my view, combining both resources and treasury was clearly the right way to go, and both sets of shareholders can now look forward to Colonial exploiting any fire sale opportunities that may arise in a cash constrained market, as well as having sufficient treasury to ride out another couple of years of poor markets if they have to.

Official news release

Vancouver, B.C.  Mar 26, 2015 – Colonial Coal International Corp. {TSX.V: CAD} and Tuya Energy Inc. are pleased to announce that Tuya has obtained a final order from the Supreme Court of British Columbia approving the previously announced plan of arrangement (the “Arrangement”) pursuant to which Colonial will acquire all of the issued and outstanding common shares of Tuya (“Tuya Shares”). Receipt of the final order follows approval of the Arrangement by shareholders of Colonial and Tuya at their respective shareholders’ meetings held on March 19, 2015.

Under the Arrangement, each Tuya shareholder will be entitled to receive 0.5 of a common share of Colonial for each Tuya Share held. The Arrangement remains subject to the satisfaction of other closing conditions customary in a transaction of this nature. It is currently expected that the transaction will be completed on or about March 31, 2015.

Full details of the Arrangement and certain other matters are set out in the joint management information circular of Colonial and Tuya dated February 17, 2015 (the “Information Circular”). A copy of the Information Circular and other Colonial meeting materials can be found under Colonial’s profile on SEDAR atwww.sedar.com.

About Tuya Energy Inc.

Tuya is a privately held, Vancouver-based, coal exploration and development company. Tuya’s principal property is the Tuya River Property, a thermal coal property located between Telegraph Creek and Dease Lake in northwestern British Columbia.

About Colonial Coal International Corp.

Colonial is a publicly traded pure-play coking coal company in British Columbia. The northeast Coal Block of British Columbia, within which Colonial’s projects are located, hosts a number of proven deposits and has been the subject of M&A activities by Xstrata, Walter Energy, Anglo and others.

Additional information can be found on Colonial’s website www.ccoal.ca or by viewing Colonial’s filings at www.sedar.com.

Forward-Looking Information

Information set forth in this news release may involve forward-looking statements. Forward-looking statements are statements that relate to future, not past, events. In this context, forward-looking statements often address a company’s expected future business and financial performance, and often contain words such as “anticipate”, “believe”, “plan”, “estimate”, “expect”, and “intend”, statements that an action or event “may”, “might”, “could”, “should”, or “will” be taken or occur, or other similar expressions. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following risks: risks associated with marketing and sale of securities; the need for additional financing; reliance on key personnel; the potential for conflicts of interest among certain officers or directors with certain other projects; and the volatility of common share price and volume. Forward-looking statements are made based on management’s beliefs, estimates and opinions on the date that statements are made and except as required by law, Colonial and Tuya undertake no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change. Investors are cautioned against attributing undue certainty to forward-looking statements.

THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS NEWS RELEASE REPRESENTS THE EXPECTATIONS OF COLONIAL AND TUYA AS OF THE DATE OF THIS NEWS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE EITHER COLONIAL OR TUYA MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE SECURITIES LEGISLATION.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contacts:
Colonial Coal International Corp.
David Austin
604.568.4962
daustin@ccoal.ca

Eddison have produced a research note on Avalon Rare Metals {TSX: AVL} supporting the recent study as giving sufficient confidence to support the advancement of AVL’s East Kemptville tin project.

Capex has been set at a realistic $157 million, including the ability to produce tin ingots on site in a small refinery.

IN a detailed note Eddison selected the East Kemptville tin project as the key project in Avalon’s portfolio of five development projects, and give a valuation for this project of 69 cents per share, based on the February 2015 CRS.

Eddison also noted the potential for lithium production from their Separation Rapid Project.

Both projects could be producing cashflow from 2018 onwards.

The rare earth metals project Nechalachco is still a core focus and supports the current shareprice, although with a capex of  >$1 billion, immediate progress is unlikely.

Nymox Pharmaceutical Corp. {NASDAQ: NYMX} announces a Private Placements of US $400,000.

In addition warrants at a strike price of $2 were issued.

 News Release

HASBROUCK HEIGHTS, N.J., March 20, 2015 — Nymox Pharmaceutical Corporation (Nasdaq: NYMX) announced today a recent private placement of 883,058 shares, with total proceeds of US$400,000.

In additional 441,529 warrants exercisable at $2.00 were included in the private placement.

For more information please contact info@nymox.com or 800-936-9669.

This press release contains certain “forward-looking statements” as defined in the United States Private Securities Litigation Reform Act of 1995 that involve a number of risks and uncertainties. There can be no assurance that such statements will prove to be accurate and the actual results and future events could differ materially from management’s current expectations. Development of drug products involves substantial risks and actual results may differ materially from expectations. Factors that could cause actual results or events to differ materially from those projected in forward-looking statements are detailed from time to time in Nymox’s filings with the United States Securities and Exchange Commission and other regulatory authorities.

CONTACT: Paul Averback
         Nymox Pharmaceutical Corporation
         1-800-93NYMOX
         www.nymox.com

Colonial Coal International Corp. {TSX.V: CAD} and Tuya Energy Inc. shareholders have both voted in favour of the acquisition by Colonial Coal of the shares of Tuya Energy Inc.

The votes now require court approval, upon which the newly enlarged Colonial Coal will have substantial assets and a good treasury with which to move towards becoming a medium size coal miner.

Comment

This hurdle has given the green light to Colonial becoming a company of some substance, with resources in both metallurgical and thermal coal, all in a safe mining jurisdiction.

The combined treasury will allow Colonial to drill Flatbed and increase shareholder value if they are successful on that property, and makes Colonial a much larger player in the B.C. coal mining scene.

David Austin is noted as a dealmaker, and,with this transaction out of the way, he will have some ammunition to use if some stranded assets become available in a fire sale.

This deal will be the envy of those companies that cannot conclude such a deal, as the healthy treasury offers an opportunity that those without a treasury can only dream about in this terrible market where fundraisings are so difficult to achieve, and at the cost of huge dilution.

2015-03-20 09:07 ET – News Release

Mr. David Austin reports

Colonial Coal and Tuya Energy shareholders approve acquisition of Tuya by Colonial

Colonial Coal International Corp. {TSX.V: CAD} and Tuya Energy Inc.’s plan of arrangement, pursuant to which Colonial will acquire all of the issued and outstanding common shares of Tuya was approved by shareholders of Colonial and Tuya at their respective shareholder meetings held on March 19, 2015. Of the votes cast at the Colonial shareholder meeting, 99.7 per cent of Colonial shareholders voted in favour of the special resolution approving the arrangement (99.5 per cent after excluding the votes cast by directors and officers of Colonial and Tuya). Of the votes cast at the Tuya shareholder meeting, 100 per cent of Tuya shareholders voted in favour of the special resolution approving the arrangement.

Under the arrangement, each Tuya shareholder will be entitled to receive 0.5 of a common share of Colonial for each Tuya share held. Tuya is seeking a final order of the Supreme Court of British Columbia to approve the arrangement at a hearing expected to be held on March 26, 2015. In addition to the approval of the court, the arrangement is subject to the satisfaction of other closing conditions customary in a transaction of this nature. It is currently expected that, subject to receipt of all approvals, the transaction will close on or about March 31, 2015.

Full details of the arrangement and certain other matters are set out in the joint management information circular of Colonial and Tuya dated Feb. 17, 2015. A copy of the information circular and other Colonial meeting materials can be found under Colonial’s profile on SEDAR.

Without warning, Minesite and Oilbarrel, both London based resource conferences, have been ceased by their owner, effective after the 102nd Minesite that took place in the City of London today.

This marks the end of an era as Minesite and Oilbarrel spearheaded the start of resource conferences in London some 12 or so years ago, and have proved to be exceedingly popular events over the years. Sadly,  with interest in the sector waning, along with company valuations in the latter years, it proved harder to find participants, leading to today’s surprise announcement, at the commencement of the presentations.

Today in London I attended the 102nd Minesite conference, and was saddened to be told that it had been announced that it was the final Minesite event, and that Oilbarrel and Minesite, both latterly held at the Brewery in Chisholm Street, Barbican, were ceasing with immediate effect.

Having attended from the 16th presentation, this marked a sad day for myself and fellow London based mining focused investors, as the events afforded the opportunity to see a diverse range of mining companies, were excellent for networking, and the food served at the end was truly excellent and plentiful!

This marks the end of an era, Minesite was a new idea upon its conception, and blazed the trail for others to follow, of which many did, and it outlived some of them.

I enjoyed attending both Oilbarrel and Minesite, both in my capacity as a private investor, and lately as an IR person looking to connect with both CEO’s and city professionals working with resource companies.

Just today I connected with a company still actively raising funds for resource companies at the event, as I was leaving, proving at the very end what a valuable tool the conferences were.

Started by the late Charles Wyatt, Minesite presentations were original and fresh, and in the early days attended by a who’s who of London fund managers. As time went by and the presentation and roadshow business evolved, fewer and fewer city professionals attended, preferring instead to meet with the companies in their own offices, for one to one meetings. Their place was taken in part at least by a dedicated group of knowledgeable private investors.

The meetings remained popular, though not as well attended as in the early Great Eastern (now Andaz) Hotel days, when around 90 people crammed into the seats, with another 30 or so standing at the rear. Arriving early was essential in order to claim one’s seat!

I found my first Minesite meeting quite daunting, and nearly left before it started!  Arriving as a fairly raw private investor, Emma’s greeting on the door was proficient, but once I emerged into the room the site of so many dark suited city professionals made me feel like a fish out of water, and I considered leaving. However, as I stood there not knowing anyone, someone called my name,  and I was pleased to see the familiar face of Bob Young (ex CEO of Beowulf) waving to me.  I told him how I was feeling, and he pointed to a group of people standing in the far corner, and said “they are private investors, go and talk to them”, and I went over and introduced myself, and immediately felt at home with a group of peers, and the rest is history.

Having attended most meetings between the 16th and 102nd, I can certainly say I am extremely grateful to Bob Young for taking an interest in me that day, for making me feel welcome, and showing me there were others there with whom I could interact.

A few names roll off the tongue, Geoff who attended from number 4 onwards (but missed the final presentation today for some reason), Simon, Berrin, Mike, Ian (Proactive), Brian, Amber, and John were ever presents in those early days, but the group diminished in size over the years as the sector sold down and investors lost money.

The attendance today was just over 50 people for the farewell presentations, and the final presenting company, Galane Gold, a producer, making money, and with cash in the bank, was a fitting company to bring down the curtain on an era of daytime resource presentations in the City of London.

Minesite and Oilbarrel will be missed.

Western Zagros {TSX: WZR} announced their Q4 and end of year 2014 results, and update on their key milestones for 2014.

This included the commencement of light oil from their Sarqala well at the initial rate of some 5,000 barrels of oil per day.

Mar 16, 2015 – CALGARY, ALBERTA – WesternZagros Resources Ltd. {TSX VENTURE: WZR} announced today its operating and financial results for the fourth quarter and year ended December 31, 2014. All amounts set out in this press release are in US dollars unless otherwise stated.

WesternZagros achieved several key financial and operational milestones during 2014 and to date, including:

The commencement of light oil production and sales at an average rate of 5,000 barrels of oil per day (“bbl/d”) from the Sarqala-1 well on February 11, 2015. Production is being sold in the domestic market under a pre-paid contract and is trucked by local buyers. The Company anticipates that this well is capable of production in the range of 8,000 to 10,000 bbl/d.

“Bringing the Sarqala-1 light oil well on-stream is a significant development for WesternZagros. This production provides our first cash flow and supports additional development that targets production to 35,000 bbl/d in our Garmian Block over the course of the development period. We have built a strong balance sheet and taken steps to ensure capital discipline during this lower crude price environment. We have a solid foundation supported by great assets that provide us with the opportunity to create long-term value for investors,” said Simon Hatfield, WesternZagros Chief Executive Officer.

The Company has commissioned recent upgrades to the Sarqala processing facility that increases processing capacity from 10,000 to 15,000 bbl/d in order to accommodate additional production from 2015 completions. The Company estimates 2015 production revenues of approximately $20 to $35 million and operating income of $15 to $30 million, after consideration of field operating costs.

“The safe and efficient initiation of production and commissioning of our Sarqala facilities demonstrate the success of our strategy and our operating teams. We’ll look to replicate these accomplishments as we grow Sarqala production by drilling more development wells and expanding facilities,” Hatfield said.

This new revenue will further help the Company’s balance sheet, which was strengthened in 2014 when WesternZagros successfully raised Cdn$200 million in a Rights Offering and arranged a further debt facility of $200 million. WesternZagros ended 2014 with $197.1 million in cash and cash equivalents, sufficient to fund the currently planned appraisal and development activities during 2015.

WesternZagros recently established initial light oil Reserves for the Garmian Block – 11 million barrels (“MMbbl”) of Proved plus Probable (“2P”) light oil Reserves (Gross Block) as determined by Sproule International Limited, the Company’s independent, qualified reserves evaluator in an updated reserves report as of December 31, 2014. The Garmian Block contains an additional 417 MMbbl of oil of unrisked Prospective Resources (Gross Block combined Mean estimate) as determined by Sproule International Limited, in its July 1, 2014 and February 8, 2013 reports.

“These reserve bookings represent the first of what we expect will be progressive reserves additions that will underpin production growth. On October 16, 2014, we tested the Sarqala-1 well at rates of up to 11,500 bbl/d of 40 degree API oil from the Jeribe/Upper Dhiban reservoir. Sarqala-1 is the first of several wells planned to tap the Garmian Block’s Jeribe reservoir. Once the development plan is approved, we expect to commence an additional development well this year to increase production and cash flow. Delays to the start of testing of the light oil deeper Oligocene reservoir at our nearby Hasira-1 well have been experienced due to a number of downhole service company tool failures. However, testing is now underway, with results expected in the second quarter of 2015, which we believe could demonstrate the production potential of this new reservoir and add additional resources and production capability to the Sarqala field. Following a successful test, the Hasira-1 well is expected be tied-in to the existing Sarqala production facility,” Hatfield said.

Fourth Quarter 2014 and Year End Results

WesternZagros has posted its operating and financial results for the fourth quarter and year ended December 31, 2014 on its website. The financial statements, the Management Discussion and Analysis, and the Annual Information Form are available at www.westernzagros.com and on SEDAR at www.sedar.com.

WesternZagros is in the early stages of transitioning from an oil and natural gas exploration company to a production company. The company had no commercial production or oil sales in 2014, and has only recently started to produce light oil for sale. As production grows, the Company expects to also grow cash flow and is working towards turning its enormous oil resource potential into a financially sustainable production company.

Outlook

2015 Operations Outlook

The Company anticipates crude oil sales during 2015 into the domestic market, which is supported by the initial sales in February and March. Crude oil production from the Sarqala-1 well is anticipated to produce between 6,000 and 7,500 barrels per day on an annualized basis (8,000 to 10,000 barrels per day for the remainder following a ramp up in the first quarter of the year).The domestic market price is linked to Brent pricing and payments for the sale of crude oil are received prior to deliver of the volumes. The Company estimates the domestic price will range from $42/bbl to $52/bbl (assuming Brent ranges between $50 to $60 per barrel) which would result in 2015 revenues of $20 to $35 million and operating income of $15 to $30 million after consideration of field operating costs.

2015 Capital Outlook

The Company’s planned expenditures for 2015 total $125 million, which includes $100 million of capital costs for Phases 1 and 2 of the Garmian development, $10 million of capital costs for development planning and long leads to advance the Kurdamir development plan and $15 million of Corporate, G&A and interest costs. Phase 2 spending for Garmian is dependent on securing KRG approval of the Garmian development plan and the continued ability to monetize crude sales from Sarqala-1.

Garmian Block

The first three phases of the Garmian development plan submitted to the Kurdistan Regional Government (“KRG”) are outlined below. Commitment to subsequent phases, including construction of the central processing facility (“CPF”) will be dependent on the results of, and the ability to monetize production from, phases 1 and 2.

Phase 1 – Establish Production: The Sarqala-1 workover was completed in 2014 with flow rates testing at 11,500 bbl/d. The early processing facility (“EPF”) upgrades were also completed increasing the processing capacity from 10,000 bbl/d to 15,000 bbl/d. The EPF has been commissioned and is now in operation supplying crude to the domestic market. The Hasira-1 exploration well test results are anticipated in the second quarter of 2015. Estimated costs in 2015 to complete the Hasira-1 testing operations and final EPF commissioning are $8 to $9 million.

The Company is in discussions to provide associated gas to a proposed KRG gas facility near the block boundary for utilization by the government pursuant to the PSC. This will allow for the utilization of gas to fuel domestic electrical power production and minimize flaring.

Phase 2 – Facility Expansion: Expand production facilities to 35,000 bbl/d including centralized storage and loading facilities, tie-in Hasira-1 well upon success and drill the first two horizontal development wells. This phase of development work is anticipated to start in second half of 2015 and into 2016 with estimated net costs of $85 million to $90 million.

The planned development drilling program will delineate the Prospective Resources within the Jeribe reservoir. Based on the well results, the production facility capacity could be increased beyond the planned 35,000 bbl/d. With success, the Company believes that the current 2P Reserves and the Gross Prospective Resources (P50 basis) for the Garmian Block could ultimately support a project up to 50,000 bbl/d of oil production.

Phase 3 – Increase Well Capacity: Drill up to four additional deviated or horizontal development wells to optimize plant capacity and install water handling and compression equipment, as required. This phase of development work has an estimated net capital cost of up to $155 million.

The Company’s Garmian reserves, as recognized at December 31, 2014 by the independent reserves evaluator was limited solely to the Jeribe reservoir and assumed a maximum well production capability of approximately 6,000 bbls/d for the best producing well. The reserves did not include the results from preliminary testing at Hasira-1 in the Oligocene reservoir and do not include any technical adjustment for the Sarqala workover results due to the limited duration of the test, which tested at over 11,500 bbls/d. It is anticipated that reserves will be updated later in 2015 once results from Hasira-1 are known and the Sarqala-1 well has produced for a longer duration.

Kurdamir Block

On the Kurdamir Block, the Company has submitted an alternative development plan to the KRG and is now in active discussions with the KRG on further refinements to advance the development of both the significant gas and oil volumes. Certain activities, including front end engineering of the necessary facilities and planning for additional drilling, will be completed in coordination with the KRG as the development plan is agreed. The Company will provide further guidance and will look to convert the contingent resources to reserves once the development plan has been finalized with the KRG.

Liquidity and Capital Resources

As at December 31, 2014, WesternZagros had $197.1 million in cash and cash equivalents. The Company also has access to two debt facilities, $150 million that can be drawn commencing in October 2015 and $50 million that can be drawn commencing in June 2016. These capital resources will be used to fund both future development activities and the repayment of the Cdn$100 million convertible notes where the conversion rights have not been exercised.

As the Company advances the execution of its development activities it will continually evaluate both its capital resources and capital structure. The Company in this evaluation will monitor and assess all relevant factors, including the following:

The expected timing and scope of development activities based upon an appropriate phasing reflective of the approved development plans, current market conditions, and the political and security situation within Iraq;

The ability to export or to sell into the domestic market oil and natural gas in accordance with the economic terms of the PSCs;

• The level of cash flow generated from production;
• The continued participation of its co-venturers in development activities;
• The current conditions of the oil and gas industry given the recent significant decline in world oil prices and the impact on further investment in in the industry;
• The current conditions in the financial markets, including the potential for further market instability; and
• The ability to access debt, and the costs thereof, for development activities in Kurdistan.

With the capital resources and anticipated crude oil sales, the Company is fully funded for currently planned activities in 2015. The Company is focused on increasing its production capacity and sales volumes to support further investment on the Garmian and Kurdamir developments. However, the Company may need to access further capital resources depending on a number of the factors identified above, and particularly the outcome of the negotiations of the Kurdamir development plan and the participation of its co-venturer. This could include potentially accessing the debt and/or equity market, or seeking additional partnerships, farmouts or other strategic arrangements. The Company may also delay certain phases of its development plans if the ability to export or sell into the domestic market oil and natural gas in accordance with the economic terms of the PSCs is restricted or unavailable, or if the political and security situation within Iraq is not suitable.

VAL-D’OR, QUEBEC –  March 17, 2015 – Cartier Resources Inc. {TSX VENTURE:ECR} announces the closing of a private placement with SODEMEX II s.e.c. for gross proceeds of 75 000 $.

Comment

This is an example of how difficult financing has become for the exploration juniors, with  small placings of shares being done as and when a junior company like Cartier can find a supportive institution or investor.

SODEMEX are an existing shareholder, a Quebec institution, and obviously still supportive of the company despite the falling gold price and dire market.

Official news release

VAL-D’OR, QUEBEC –  March 17, 2015 – Cartier Resources Inc. {TSX.V: ECR} announces the closing of a private placement with SODEMEX II s.e.c. for gross proceeds of 75 000 $.

In total, Cartier issued 750 000 units (the “Units”) at a price of$0.10 per Unit, with each Unit consisting of one (1) common share at a price of $0.10 per share and one (1) common share purchase warrant, each warrant entitling the holder to subscribe for one (1) common share at a price of $0.13 for a period of twenty-four (24) months following the closing date.

The securities issued under the private placement are subject to a four (4) month statutory hold period.

This press release is not an offer or a solicitation of an offer of securities for sale in the United States. The securities have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration.

The common shares of Cartier Resources Inc. are listed on the TSX Venture Exchange under the symbol “ECR”.

Neither the TSX Venture Exchange nor its regulatory services provider accepts responsibility for the adequacy or accuracy of this press release.

Inovio Pharmaceuticals and academic collaborators, notably the University of Pennsylvania, have received a  $16 Million grant from National Institute of Allergy and Infectious Diseases.

The grant will fund a 5 year AIDS vaccine Development Program, and comes about following the success of the PENNVAX vaccine cinical work to date.

PLYMOUTH MEETING, Pa. – March 16, 2015 – Inovio Pharmaceuticals, Inc. {NASDAQ: INO} announced today that the company and its academic collaborators, including the University of Pennsylvania (UPenn), were awarded a new five-year $16 million Integrated Preclinical/Clinical AIDS Vaccine Development Program grant from the National Institute of Allergy and Infectious Diseases (NIAID).

This five-year program grant was awarded based on the clinical successes of Inovio’s PENNVAX® HIV vaccine program. The grant will fund research to expand PENNVAX coverage of HIV strains as well as to further enhance antibody responses generated by the vaccine.

New PENNVAX envelope constructs will be designed and tested with Inovio’s DNA-based immune activator encoding novel cytokine genes and will be studied in a prime-boost strategy with recombinant HIV envelope proteins. The collaborators will assess different combinations in preclinical models with the goal of generating high levels of neutralizing antibodies mirroring the robust CD8+ T cell responses generated by Inovio’s PENNVAX-B DNA vaccine in previously published clinical studies. The overall goal of this project is to further build upon this important HIV vaccine approach as well to gain fundamental insight into new technologies to improve vaccination outcomes.

As part of this grant consortium, Inovio will couple its expertise in constructing, developing and manufacturing HIV vaccines with researchers from four world-leading academic institutions (University of Pennsylvania, Emory University, Duke University and the University of Massachusetts) along with VGXi, a contract DNA plasmid manufacturer, and Waisman Biomanufacturing, a contract protein manufacturer.

Dr. J. Joseph Kim, President and CEO, said, “On behalf of our team of preeminent academic collaborators, we are honored to receive this significant new grant from the NIAID. Having completed the development of PENNVAX-GP under a prior $25 million NIAID grant, we are on track to separately initiate a phase I study of this HIV vaccine. This additional NIAID funding allows us to immediately continue and expand the development of PENNVAX vaccines. We have one of the most dynamic HIV programs in the world and we look forward to pursuing any and all scientific exploration to achieve an answer to this challenging disease using our novel DNA immunotherapy approach.”

The NIAID previously awarded Inovio a $25 million grant to develop PENNVAX-GP. UPenn was a collaborating partner on that award as well for the pre-clinical development activities. A phase I study of PENNVAX-GP is expected to start in the first half of 2015.
About PENNVAX® HIV Vaccines and Immunotherapies

Human immunodeficiency virus (HIV) is a retrovirus that causes acquired immunodeficiency syndrome (AIDS), a condition in which progressive failure of the immune system allows life-threatening opportunistic infections and cancers to thrive. HIV is classified into clades, sub-types within which the virus has genetic similarities. The most prevalent clades are B (found mainly in North America and Europe), A and D (found mainly in Africa), and C (found mainly in Africa and Asia).

Inovio completed initial clinical studies of its HIV immunotherapy PENNVAX-B, targeting clade B viruses, to achieve proof of principle in generating potent immune responses using its SynCon® vaccine technology. In two published phase I studies, PENNVAX-B immunization has been shown to generate high levels of activated, antigen-specific CD8+ killer T cells with proper functional characteristics. This ability uniquely positions PENNVAX as an important product candidate for both preventing and treating HIV infections.

Using a $25 million grant from the NIH, Inovio designed its multi-clade, multi-antigen PENNVAX-GP immunotherapy targeting viruses from clades A, B, C and D. PENNVAX-GP is Inovio’s lead preventive and therapeutic immunotherapy for HIV.

About Inovio Pharmaceuticals, Inc.

Inovio is revolutionizing the fight against cancer and infectious diseases. Their immunotherapies uniquely activate best-in-class immune responses to prevent and treat disease, and have shown clinically significant efficacy with a favorable safety profile. With an expanding portfolio of immune therapies, the company is advancing a growing preclinical and clinical stage product pipeline. Partners and collaborators include Roche, MedImmune, University of Pennsylvania, DARPA, Drexel University, NIH, HIV Vaccines Trial Network, National Cancer Institute, U.S. Military HIV Research Program, and University of Manitoba. For more information, visit www.inovio.com.

CONTACTS:
Investors: Bernie Hertel, Inovio Pharmaceuticals, 858-410-3101, bhertel@inovio.com
Media: Jeff Richardson, Inovio Pharmaceuticals, 267-440-4211, jrichardson@inovio.com

N.B.

This press release contains certain forward-looking statements relating to our business, including our plans to develop electroporation-based drug and gene delivery technologies and DNA vaccines, our expectations regarding our research and development programs and our capital resources. Actual events or results may differ from the expectations set forth herein as a result of a number of factors, including uncertainties inherent in pre-clinical studies, clinical trials and product development programs (including, but not limited to, the fact that pre-clinical and clinical results referenced in this release may not be indicative of results achievable in other trials or for other indications, that the studies or trials may not be successful or achieve the results desired, including safety and efficacy for VGX-3100, that pre-clinical studies and clinical trials may not commence or be completed in the time periods anticipated, that results from one study may not necessarily be reflected or supported by the results of other similar studies and that results from an animal study may not be indicative of results achievable in human studies), the availability of funding to support continuing research and studies in an effort to prove safety and efficacy of electroporation technology as a delivery mechanism or develop viable DNA vaccines, our ability to support our broad pipeline of SynCon® active immune therapy and vaccine products, our ability to advance our portfolio of immune-oncology products independently, including INO-5150, and to commence a phase I clinical trial for INO-5150 in the first half of 2015, the adequacy of our capital resources, the availability or potential availability of alternative therapies or treatments for the conditions targeted by the company or its collaborators, including alternatives that may be more efficacious or cost-effective than any therapy or treatment that the company and its collaborators hope to develop, our ability to enter into partnerships in conjunction with our research and development programs, evaluation of potential opportunities, issues involving product liability, issues involving patents and whether they or licenses to them will provide the company with meaningful protection from others using the covered technologies, whether such proprietary rights are enforceable or defensible or infringe or allegedly infringe on rights of others or can withstand claims of invalidity and whether the company can finance or devote other significant resources that may be necessary to prosecute, protect or defend them, the level of corporate expenditures, assessments of the company’s technology by potential corporate or other partners or collaborators, capital market conditions, the impact of government healthcare proposals and other factors set forth in our Annual Report on Form 10-K for the year ended December 31, 2014, and other regulatory filings from time to time. There can be no assurance that any product in Inovio’s pipeline will be successfully developed or manufactured, that final results of clinical studies will be supportive of regulatory approvals required to market licensed products, or that any of the forward-looking information provided herein will be proven accurate.

Neometals {ASX: NMT} confirm they have furthered their non -core asset divestment program with another deal announced.

CEO Chris Reed announced they have sold and farmed out the gold rights over their Forrestania and part of the Barrambie projects.

Neometals Ltd (ASX:NMT)(“Neometals” or the “Company”) is pleased to announce that it has signed a binding Memorandum of Understanding (“MOU” or the “Agreement”) with a private mining group (“the Group”) regarding the acquisition and farm-in of the gold rights over the Company’s Forrestania Nickel and part of the Barrambie Titanium projects.
Forrestania Project: Sale of gold rights.

Under the agreement, the Group will acquire Neometals’ gold rights over the Forrestania Project which are held by Neometals’ subsidiary, Reed Exploration Pty Ltd for $200,000,
which has been received.
Barrambie Project: Earn-in agreement for gold rights.

The Group will earn a 75% interest in the gold rights of two exploration licences within the
Barrambie Project  which is 100% owned by Neometals’ subsidiary, Australian Vanadium Corporation (Holdings) Pty Ltd (“AVC”). The 75% interest will be earned via spending $500,000 on exploration on the Barrambie Project over 2 years, with a minimum spend of $150,000 in the first year. AVC can elect to participate or revert to a 2% net smelter royalty, AVC will retain the rights to all other minerals over the tenement areas which adjoin the main granted mining lease which is the subject of the current Pre-feasibility Study.
With Neometals’ strategy being primarily focused on the advanced minerals market through the development of the Mt Marion Lithium Project and the Barrambie Titanium Project, the Company has been investigating opportunities to divest and monetise non-core assets. This Agreement represents strong further progress of this strategy, and allows the Company to extract value from assets it no longer considers a priority while retaining exposure to the assets should the Group make a commercial discovery.

 
ENDS

 
For further information, please contact:

Chris Reed
Managing Director
Neometals Limited
T: +61 8 9322 1182
E: info@neometals.com.au

CARTIER CLOSES A $100,000 PRIVATE PLACEMENT WITH SIDEX

Val-d’Or, Canada, March 11th, 2015 – Cartier Resources Inc. (TSX Venture Exchange: ECR)  announces the closing of a private placement with SIDEX, s.e.c. for gross proceeds of 100 000 $.

In total, Cartier issued 1 000 000 units (the “Units”) at a price of $0.10 per Unit, with each Unit consisting of one (1) common share at a price of $0.10 per share and one (1) common share purchase warrant, each warrant entitling the holder to subscribe for one (1) common share at a price of $0.13 for a period of twenty-four (24) months following the closing date.

The securities issued under the private placement are subject to a four (4) month statutory hold period.

This press release is not an offer or a solicitation of an offer of securities for sale in the United States.  The securities have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration.

The common shares of Cartier Resources Inc. are listed on the TSX Venture Exchange under the symbol “ECR”.

A first-step screening has occurred on Zenyatta Ventures {TSX.V: ZEN} Albany graphite with positive results for use in multiple components for fuel cells.

As a second step, the company now plans to work further with a global leader in fuel cell technology to build actual components from high-purity Albany graphite.

News Release

Dr. Bharat Chahar reports

ZENYATTA; Initial screening shows Albany graphite material to be suitable for hydrogen fuel cell components,  company collaborates with a global leader in fuel cell technology, supported by the Government of Canada.

A first-step screening has occurred on Zenyatta Ventures Ltd.’s Albany graphite with positive results for use in multiple components for fuel cells. As a second step, the company now plans to work further with a global leader in fuel cell technology to build actual components from high-purity Albany graphite. This research into fuel cell innovation is supported by technical and advisory services, and a financial contribution from the National Research Council — Industrial Research Assistance Program (NRC-IRAP).

The initial screening by a global leader, which is under a confidentiality agreement, was conducted for purity, particle size, corrosion resistance and other desirable properties for use in fuel cells. These tests showed Zenyatta’s graphite material to be suitable for use in hydrogen fuel cells with further advanced testing planned. Testing results were obtained from a lab-scale sample provided by SGS Canada Inc. solely for the purpose of providing early evaluation on the suitability and effectiveness of Albany graphite in various applications.

Highlights:

• Early testing shows Albany graphite to be suitable for hydrogen fuel cell components;
• Company plans to build and test fuel cell components in the near future;
• Collaboration with a major fuel cell provider was assisted by funding provided by the government of Canada.

Dr. Bharat Chahar, vice-president of market development for Zenyatta, stated: “Purity and particle size of the material provided by SGS processing was already in the range needed for fuel cell applications; therefore, no further milling or purification was needed. Due to simple mineralogy, high crystallinity and desirable particle size distribution, Zenyatta graphite has shown first screening specification ranges needed for the hydrogen fuel cell components. While further tests are ongoing to verify other performance characteristics, this initial feedback on results is extremely encouraging and quite promising for our upcoming advanced testing.”

Based on research and dialogue with end-users, at this point in time, Zenyatta expects to have a targeted market application segmentation which includes 20 to 25 per cent for high-purity graphite in fuel cell products, 25 to 30 per cent in lithium-ion batteries and 25 to 30 per cent in powder metallurgy. Powder metallurgy and the remaining 15 to 30 per cent in target applications will be discussed in upcoming news releases.

Zenyatta commenced a market development program several months ago to initiate validation of Albany graphite in high-purity graphite applications. Since the start of this program, the company has had detailed conversations with more than 35 graphite end-users, academic labs and third party testing facilities in Europe, North America and Asia under confidentiality agreements. Many of these organizations requested a specified amount of purified Albany graphite produced at the SGS Lakefield site during the development of a process flow sheet pursuant to a preliminary economic assessment, which is currently being completed. The samples produced at SGS are experimental in nature and may differ slightly from batch to batch, and may also differ from the final product in the future. However, these samples are representative of the product that could be processed, and provide a good initial assessment and guidance for the potential of Albany graphite for various applications.

The goal of these initial samples was to screen Albany graphite for suitable applications while gathering feedback from the end-users and testing facilities to improve the overall properties for high-value applications. The company is now starting to receive feedback from several end-users and independent labs, some of which received repeat samples. Information from this initial test program will be used to further define the company’s product and market strategy, and set the stage for next steps in development. Zenyatta plans to provide its stakeholders with brief, periodic updates on the progress, as meaningful information becomes available. This is the second in a series of updates on the market and business developments.

A battery is an energy storage device and will stop producing electrical energy when the chemical reactants are consumed or it needs to be recharged. The fuel cell is an energy conversion device and will produce electrical energy as long as the fuel and the oxidant are fed to the electrodes. There are many types of fuel cells used in various end-use applications including transportation, industrial equipment, stationary power generation, backup power, aerospace and defence. Various fuel cell technologies have been developed to convert many different fuels to electricity at high efficiencies. While fuel cells were first developed in 1960s for niche applications such as generation of power for space vehicles, a large amount of research and development has been conducted over the last 50 years and resulted in much wider use of this technology. It is now considered a green technology for use in many applications. Since the fuel cells can be designed to use different forms of fuel, this is one of the leading technologies for sustainable generation of power in small to medium-sized industrial applications.

Fuel cell market and hydrogen fuel cells

The fuel cell market is relatively large and shows high growth potential. Proton exchange membrane or polymer electrolyte membrane fuel cells converting hydrogen and oxygen to electricity and water command a near-majority market share in the fuel cell market. Since hydrogen can be produced from various sources, and the hydrogen fuel cells only produce water and electricity, this technology has the best potential for finding widespread usage in many sectors, including transportation. Honda and Toyota are already making fuel-cell-powered test vehicles available in limited markets. Fuel cell companies are continuously improving technologies to provide a more cost-effective catalyst, which in turn helps them to commercialize and launch products in the market. Significant efforts are also being made to develop hydrogen storage and distribution infrastructure. Due to all these efforts, the fuel cell market is likely to experience a tremendous increase in demand in the years to come.

High-efficiency conversion

Fuel cells convert chemical energy directly into electricity without the combustion process. Fuel cells can achieve high efficiencies in energy conversion terms, especially where the waste heat from the cell is utilized for cogeneration.

High power density

A high power density allows fuel cells to be relatively compact sources of electric power, which is beneficial in applications with space constraints. In a fuel cell system, the fuel cell itself is nearly dwarfed by other components of the system, such as the fuel reformer and power inverter.

Quiet operation

Fuel cells, due to their nature of operation, are extremely quiet in operation. This allows fuel cells to be used in residential or built-up areas where the noise pollution is undesirable.

Graphite for this market has to meet many challenging performance characteristics before it can be used in a fuel cell. The traditional graphite material used in bipolar plates is usually purified using expensive hydrofluoric chemical or thermal processes. Zenyatta continues to develop an innovative purification system on its unique graphite material that does not require use of these traditional and environmentally damaging processes.

Graphite is used in the bipolar plate as an electrically and thermally conductive additive. Bipolar plates, which are a major component of fuel cells, are made from high-purity graphite. These plates need to be impermeable to gases; have good electrical conductivity, high strength, low weight and good resistance to corrosion; and be easy to manufacture in large quantities.

Graphite must be high grade (greater than 99.9 per cent carbon) with low impurities, with a viable, low-cost purification process. Smaller amounts of graphite or carbon materials can be used in the gas diffusion layers and the membrane electrode assembly of fuel cells, as a catalyst support, as coatings for the bipolar plates, and in solid oxide fuel cell (SOFC) components. Gas diffusion layers use high-purity, fine graphite powders for controlled porosity and low electrical resistance.

Dr. Bharat Chahar, PE, VP, market development, for Zenyatta, is a qualified person for the purposes of National Instrument 43-101 and has reviewed the technical information in this news release. This testing does not represent a statistically large sample size. Furthermore, these positive results do not mean that Zenyatta can extract and process Albany graphite for high-purity graphite applications on an economic basis. Without a formal independent feasibility study, there is no assurance that the operation will be economic.

We seek Safe Harbor.

The recently 2015 PDAC mining conference in Toronto was well attended in the end, despite reports to the contrary circulating in the press.

Following one from my thoughts about the first two days, here are my concluding thoughts written after the event had finished.

The organisers recorded around 23,500 attendees, (not too far from the 2014 level of 25,000 delegates) from over 100 countries, over the four days of the show, hardly a disastrous drop, despite the prevailing doom and gloom of the mining sector.

So a well attended show, certainly in comparison to the recent Vancouver CH show, but, as in Vancouver, the big question of course is where were the investors?

The blunt answer is almost totally absent! as many booth holders I spoke to said they had hardly spoken to any investors over the course of the show, and a couple told me they had not had a single investor approach their booth!

Given that most of the participants are cash strapped juniors with a greenfield site in outer moose pasture land, hundreds of miles from infrastructure and civilization, the lack of investor interest in their projects, in the current dire market, is hardly a surprise.

So who did attend PDAC 2015?

As I mentioned previously, Canada is a laid back country, where casual dress dominates, yet most of the delegates wore suits!  This suggests to me that virtually everyone in the show was a market professional or person selling their services to the mining community.

The usual sharks were circulating trying to push exotic financing deals and market shell companies where they would be the principal beneficiaries of any deal concluded, and one hopes they left empty handed, they really are the scourge of the financial markets.

I personally spoke to many geologists looking for work, and I met the usual suspects from London on the plane out that attend with a view to finding work for their respective companies, ranging from engineering to capital raising.

So whilst the show was successful in terms of attendee numbers, one wonders how it was viewed from an exhibiting company’s perspective?

I suspect the answer in most cases was that is was not worth the effort to attend, but I suspect that most of them will return next year,( if they still exist of course, and a good few probably won’t! )  if only to maintain their booth space.

The weather was freezing and raw, as it usually is in early March in Toronto, but the evening hospitality was still on offer in abundance, although the emergence of drink tokens and the requirement to pay after they had  run out, suggested the industry is feeling the pinch somewhere!

CEO of Scorpio Gold {TSX.V: SGN} Peter Hawley proclaimed the raising of $15 million in a non-brokered private placement with an affiliate of NY based investment firm Coral Reef LLC. as a move that will accelerate the growth of the company and take Scorpio Gold “to the next level”.

Comment

A bit of a surprise move this, given the requirement for Gold Standard Ventures to pay the final tranche of their agreement with Scorpio in the near future. 

Thinking about it, although Scorpio were generating funds and covering the cost of their extensive exploration, this additional cash will allow them to advance their existing projects at a faster rate, and also to take advantages of opportunities in the current cash constrained market environment.

The opportunities such funds will give Scorpio, in the current market, this move makes perfect sense, and has the potential to deliver shareholder value further down the line.

Official news release.

Scorpio Gold Announces Strategic Financing to Raise Gross Proceeds of US$15 Million.
Vancouver, March 6, 2015 – Scorpio Gold Corporation (TSX-V: SGN) announces that it has entered into a non-binding letter of intent (the “LOI”) with an affiliate of Coral Reef Capital LLC (“Coral Reef”) pursuant to which Coral Reef will acquire an aggregate of 124,172,185 units (each a “Unit”) of Scorpio Gold on a non-brokered private placement basis, at a price of US$0.1208 per Unit, for aggregate gross proceeds to Scorpio Gold of US$15,000,000 (the “Placement”). Each Unit will be comprised of one common share of Scorpio Gold (a “Share”) and one quarter of a common share purchase warrant (each whole warrant, a “Warrant”), which Warrant will be exercisable for a period of five years to acquire an additional Share at an exercise price of US$0.1208. Proceeds of the Placement will be used to fund exploration and development of Scorpio Gold’s existing mineral properties and for working capital.

The Placement is structured to close in two tranches: an initial tranche (“Tranche A”) for gross proceeds of US$3,750,000, and a second tranche (“Tranche B”) for gross proceeds of US$11,250,000. Tranche A will close following the completion of certain conditions precedent, including Coral Reef’s completion of a due diligence review of Scorpio Gold and its operations and definitive documentation. Tranche B will close following the completion of further conditions precedent, including the receipt of the approval of Scorpio’s shareholders. The closing of both tranches remains subject to the approval of the TSX Venture Exchange.

Following the completion of both tranches of the Placement, it is anticipated that Coral Reef will hold an aggregate of 49.8% of Scorpio Gold’s outstanding Shares.

Peter Hawley, Chief Executive Officer of Scorpio Gold, states: “We view Coral Reef as a sophisticated, stable, long term-strategic investor that will provide Scorpio Gold the support and financial capability to accelerate the growth of the Company. Coral Reef is very familiar with the Nevada mining sector owning the Denton-Rawhide mine and an advanced exploration project. Their support will not only allow the Company to expand its exploration programs at both Mineral Ridge and Goldwedge but also to grow our production profile through organic and M&A means with the objective of bringing Scorpio Gold to the next level.”

Marceau Schlumberger, Managing Partner of Coral Reef Capital LLC, states “We are excited about the opportunity to partner with Scorpio Gold’s strong management team and believe there is significant potential at Mineral Ridge and Goldwedge. We look forward to working expeditiously to close this transaction and then having the Company utilize this capital to grow its production. This investment also fits well into our portfolio of mining transactions. We believe we can leverage our experiences and relationships to help Scorpio Gold grow.”

In connection with the Placement, Coral Reef will be granted certain additional rights. Upon the closing of Tranche A, Coral Reef will be granted the right to appoint two additional directors to Scorpio Gold’s existing board, and also the pre-emptive right to participate in future equity financings of Scorpio Gold. Upon the closing of Tranche B, Coral Reef will also be granted annual budget approval rights, approval rights to changes of Scorpio’s senior management, approval rights on any new proposed debt or equity financings or stock option issuances conducted by Scorpio Gold, approval rights on dividend distributions and share repurchases, and, subject to customary fiduciary out provisions, approval rights on any potential sale, merger or joint venture involving Scorpio Gold.

If Scorpio Gold does not proceed with the Placement for any reason other than Coral Reef exercising its due diligence out, Scorpio Gold will be required to pay Coral Reef a break fee in the amount of US$500,000. If the initial Tranche A placement is exercised then the break fee will be waved.

About Scorpio Gold

Scorpio Gold holds a 70% interest in the producing Mineral Ridge gold mining operation located in Esmeralda County, Nevada with joint venture partner Waterton Global Value L.P. (30%), and Scorpio Gold is currently entitled to receive 80% of cash flow generated. Mineral Ridge is a conventional open pit mining and heap leach operation. The Mineral Ridge property is host to multiple gold-bearing structures, veins and lenses at exploration, development and production stages. Scorpio Gold also holds a 100% interest in the advanced exploration-stage Goldwedge property and processing facility in Manhattan, Nevada. The Company is assessing its exploration plans for the Goldwedge property as well as the potential for toll milling at the Goldwedge plant, which is currently permitted for 400 tons per day.

About Coral Reef

Coral Reef Capital LLC (“CRC”) is a New York-based private investment firm that focuses exclusively on the natural resources sector, including metals & mining, oil & gas exploration and production, energy and related infrastructure and services. CRC seeks to partner with strong management teams and invest in profitable natural resource companies that have significant growth potential. CRC’s investments include Rawhide Mining LLC and an advanced stage gold exploration company, both located in Nevada.

ON BEHALF OF THE BOARD
SCORPIO GOLD CORPORATION

Peter J. Hawley,
CEO