Scorpio Gold Corp. {TSX.V: SGN}

Scorpio Gold Corp. {TSX.V: SGN} made their second significant announcement in ten days, as they continue to improve an already impressive production story, in a first class jurisdiction.

Following on from their extended LOM news release on the 21st July, SGN have reported further drilling results from their Brodie Satellite Deposit at Mineral Ridge, Nevada. Some significant intercepts were returned.

Full release can be found here;
http://www.scorpiogold.com/s/news.asp?ReportID=667192

July 31, 2014

Scorpio Gold Reports Results from 2014 Expansion Drilling at the Brodie Satellite Deposit, Mineral Ridge Project, Nevada

Vancouver, July 31, 2014 – Scorpio Gold Corporation (“Scorpio Gold” or the “Company”) (TSX-V: SGN) reports additional results from its 2014 satellite deposit drilling program at the 70% owned Mineral Ridge project, located in Nevada. The Brodie deposit lies southwest of the currently producing Drinkwater and Mary/LC pits and is immediately adjacent to the leach pad.

On July 21, 2014, the Company reported an updated Life of Mine Plan (“LOM”) for the Mineral Ridge Operation, which includes the currently producing Drinkwater and Mary/LC pits and five adjacent satellite deposits, including the Brodie deposit. The cut-off date for the LOM was March 31, 2014. Continued drilling since the March 31, 2014 cut-off date is designed to potentially upgrade and increase the reported mineral reserve and resource estimate and potentially extend life of mine. Drilling on the Brodie deposit continues to meet with success, returning significant intercepts both within and extending outside of the pit shell outlines modelled in the updated LOM.

Highlights from this latest phase of RC drilling on the Brodie deposit include:

  • MR14838: 10.34 grams per tonne (“g/t”) gold over 6.10 meters
  • MR14839: 4.49 g/t gold over 3.05 meters
  • MR14847: 2.52 g/t gold over 7.62 meters
  • MR14942: 2.75 g/t gold over 21.34 meters
  • MR14943: 2.02 g/t gold over 6.10 meters

All holes presented in Table 1 were completed by reverse circulation (“RC”) drilling. True width is estimated at 80-100% of downhole width. Analytical results were performed by American Assay

Laboratory Inc. in Sparks, Nevada, an ISO/IEC 17025:2005 accredited facility. External check assays to verify lab accuracy are routinely completed by ALS Chemex, an ISO 9001:2000 certified and ISO/IEC 17025:2005 accredited facility. Further details are presented in the Company’s quality assurance and quality control program for the Mineral Ridge project.


Full release can be found here;
http://www.scorpiogold.com/s/news.asp?ReportID=665141

Jul 21, 2014
Scorpio Gold Reports on Updated Life of Mine Plan for the Mineral Ridge Gold Operation, Nevada

Vancouver, July 21, 2014 – Scorpio Gold Corporation (“Scorpio Gold” or the “Company”) (TSX-V: SGN) announces results of an updated Life of Mine Plan (“LOM”) completed for the Drinkwater, Mary/LC, Brodie, Bluelite, Solberry, Wedge and Oromonte deposits at the 70% owned Mineral Ridge Gold Operation, located in Nevada.

The updated mine plan, which includes an updated mineral reserve estimate, projects mine life for Mineral Ridge extending into the 3rd quarter of 2016, or approximately 29 months as of the end of March 2014, the date of the LOM update. Average ore production over this time frame is estimated at 73,700 tons per month (“t/m”) based on estimated Probable Mineral Reserves of 2.1 million tons (“Mt”) grading 0.061 oz/ton gold (131,190 oz contained gold) within estimated Indicated Mineral Resources of 2.7 Mt grading 0.059 ounces per ton (“oz/ton”) gold (160,300 oz contained gold). Expansion and infill drilling of the satellite deposits has continued since the March 31, 2014 cut-off date for the LOM and is expected to add to the resource base and potentially support further conversion of current mineral resources to mineral reserves.

This LOM is inclusive of the Drinkwater and Mary/LC deposits and the five satellite deposits, Brodie, Wedge, Bluelite, Solberry and Oromonte. An Inferred Mineral Resource estimate for the Brodie, Wedge, Bluelite, and Solberry deposits, dated June 1, 2013, was reported in the Company’s August 16, 2013 news release. Development drilling over the past two years has allowed for an upgrade of the previous resource estimate to include Indicated Mineral Resources containing Probable Mineral Reserves. The updated Indicated Mineral Resource estimate for the five satellite deposits is 625,100 tons grading 0.061 oz/ton gold (38,360 oz contained gold), which includes a Probable Mineral Reserve for four of the deposits of 463,880 tons grading 0.065 oz/ton gold (30,050 oz contained gold).

Peter J. Hawley, CEO comments, “We are very pleased with the results of this updated LOM study, which places the Mineral Ridge operation in a very similar position to where it was as of April 30, 2012, the date of the previous LOM study. Over the two year span, approximately 1.7 Mt of ore have been mined at Mineral Ridge, which has been more than replaced by ongoing exploration, resulting in the 2.1 Mt of ore outlined as of March 31, 2014. Results from additional development drilling completed since the March 31, 2014 cut-off date of the study have been very positive and are fully expected to further increase mine life. This latest economic study reinforces that Mineral Ridge has the potential to continue as a producing mine for years to come.”

Principal Outcomes – Life of Mine Study

  • Estimated Probable Mineral Reserves: 2.1 Mt grading 0.061 oz/ton gold (131,190 oz contained gold).
  • 2.5 year mine life at 73,700 t/m ore throughput as of March 31, 2014.
  • Total gold production over projected life of mine is approximately 97,700 ounces gold which includes 85,300 recoverable ounces mined and 12,400 recoverable ounces gold in inventory as of March 31, 2014.
  • Average total cash cost per ounce of gold sold of $1,074.
  • After tax net present value until mine closure of $7.4 million (8% discount rate) using an average gold price of $1,300/oz.
  • Key risks include:
  • Current estimated reserves may not be realized causing a shortfall in gold production.
  • Current water requirements for the heap leach solution would be in jeopardy if the main water well were to fail. The Company is currently rehabilitating a second water well to reduce this risk.
  • Key opportunities include:
  • Current estimated reserves may be exceeded, thus increasing gold production.
  • There is potential to identify additional mineralization from drill-defined extensions to the known deposits, which may support Mineral Resource estimation updates and potentially be converted into Mineral Reserves.
  • Exploration potential of other identified prospects on the Mineral Ridge property.

Mineral Reserves presented in Table 1 have demonstrated economic viability. All Mineral Reserves are classified as Probable Mineral Reserves with no Proven Mineral Reserves.

Table 1. Probable Mineral Reserves Estimate – March 31, 2014

table scorpio gold 030814

Notes to Table 1:

  • The effective date of the Mineral Reserve estimate is March 31, 2014.
  • The Mineral Reserve estimate was prepared by Jim Ashton, P.E., of Scorpio Gold and audited by independent qualified person, Randy Martin, SME-RM, of Welsh Hagen Associates.
  • Mineral Reserves are reported at a 0.020 oz/ton gold cut-off grade.
  • Mineral Reserves are contained within a designed pit with access ramps based on the Lerchs-Grossmann (LG) algorithm utilizing a $1,300 oz gold price. The optimization mining cost was $4.15/t of ore mined at Drinkwater, $3.79/t of ore mined at Mary/LC, $2.96/t of ore mined from the satellite deposits, $2.92/t for waste mined from the Drinkwater, $2.57/t for waste mined from the Mary/LC and satellite deposits, and $1.56/t of fill mined. An average processing cost of $11.29 was applied per ton processed. G&A costs were applied at $4.70 per ton processed. Shipping and refining costs of $28.82/oz gold produced were applied. A 65% metallurgical recovery was applied. Overall pit slope angles ranged from 45 degrees to 49 degrees.
  • No economic pit was developed for the Oromonte deposit.

Table 2. Indicated Mineral Resources Estimate – March 31, 2014

table2 scorpio gold 030814

Table 3. Inferred Mineral Resources Estimate – March 31, 2014

table3 scorpio gold 030814

Notes to Tables 2 & 3:

  • Mineral Resources in Table 2 are reported inclusive of Mineral Reserves.
  • The effective date of the Mineral Resource estimate is March 31, 2014.
  • The Mineral Resource estimate was prepared by Jim Ashton, P.E., of Scorpio Gold and audited by independent qualified person, Randy Martin, SME-RM, of Welsh Hagen Associates.
  • Mineral Resources are reported at or above a 0.020 oz/ton gold cut-off grade.
  • Mineral Resources are reported using a long-term gold price of US$1,500/oz.
  • Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.

The Mineral Resource estimate is based on a total of 2,514 drill holes and 108,969 assay results collected between 1939 and 2014 from the Drinkwater, Mary, Brodie, Bluelite, Solberry, Wedge, and Oromonte deposits. The cut-off date for information used in the geologic model and Mineral Resource model was March 31, 2014.




Terrace Energy Corp.{TSX.V:TZR}

Terrace Energy Corp.{TSX.V:TZR} pleased the market with an over allotment of some $3 million adding to the recent $20 million raised and announced on July 23rd, for a grand total of 10,820,000 shares raising $23,019,550.

Vancouver, BC July 31, 2014 – Terrace Energy Corp. (the “Company”) (TSXV: TZR) is pleased to announce that Canaccord Genuity Corp. (“Canaccord”), on behalf of a syndicate of underwriters comprising Canaccord, Cormark Securities Inc., GMP Securities L.P. and Salman Partners Inc., has completed the exercise of the underwriters’ over-allotment option. The underwriters purchased an additional 1,623,000 common shares of the Company at a price of $1.85 per share for total gross proceeds of $3,002,550 under the Company’s short-form prospectus dated July 17, 2014.

The underwriters received a cash commission equal to 6.5% of the gross proceeds raised.

Aggregate gross proceeds raised from the base offering of 10,820,000 common shares completed on July 23, 2014 and the over-allotment option total $23,019,550.

About Terrace Energy

Terrace Energy is an oil & gas development stage company that is focused on unconventional oil & gas extraction in onshore areas of the United States, particularly in Southern Texas.

ON BEHALF OF THE BOARD OF DIRECTORS

Dan Carriere, Chairman

NEITHER THE 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.

For further information please contact: terrace@terraceenergy.net

Canadian Address
Suite 1012 – 1030 West Georgia St.
Vancouver B.C. V6E 2Y3
Ph: 604.282.7897 Fx: 604.629-0418

US Address
Suite 400-202 Travis Street,
Houston Texas 77002
Ph: 713.227.0010 Fx: 713.227.0492

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the Company’s securities in the United States.  The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “1933 Act”), or any state securities laws and may not be offered or sold within the United States or to U.S. persons unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration is available. 




Nymox Announces Positive Efficacy Results in Phase 3

Nymox {NASDAQ: NYMX} announces positive efficacy results in their phase 3 trial of NX-1207 for BPH.

Evaluation of data from the study confirmed that the NX-1207 reinjection treatment had been well tolerated by patients, who had not displayed any drug related significant side effects, not impaired sexual function.

Nymox Announces Positive Efficacy Results in Phase 3 Repeat Injection Trial of NX-1207 for BPH

(July 22, 2014) Nymox Pharmaceutical Corporation (NASDAQ: NYMX) is pleased to announce new positive efficacy data for U.S. Study NX02-0022, the Company’s repeat injection study of NX-1207 for BPH.

Analysis of symptomatic improvement from repeat injection over a 1 to 2 year period showed a mean improvement of 8.2 points (p <.001) in the AUA BPH Symptom Index Score. Evaluation of safety data from this study confirmed that NX-1207 reinjection treatment was well-tolerated by patients, did not impair sexual function, and has not shown any drug-related significant side effects. Participants in the clinical trial consisted of 160 consecutively treated men who had previously completed participation in an NX-1207 trial for BPH (the Phase 2 U.S. NX02-0014 or NX02-0016 trials or the U.S. Phase 3 NX02-0017 or NX02-0018 trials) and who volunteered for a subsequent open label injection of NX-1207.

The NX02-0022 study is the second prospective clinical safety and efficacy evaluation of re-injection of the Company’s NX-1207 drug for prostate enlargement (benign prostatic hyperplasia or BPH). The mean duration in this study from the initial enrollment prior to the first injection, to the assessment in the NX02-0022 trial was 23.5 months. Symptomatic improvement was assessed at 30 days after the open label reinjection of NX-1207 2.5 mg in the NX02-0022 study. The mean symptomatic improvement of 8.2 points is in a similar range to the mean improvement of 7.6 points (p<.001) earlier reported for the first NX-1207 reinjection trial NX02-0020.

It is also in the range of the completed NX02-0016 NX-1207 study where the mean improvement after 6 months was 7.5 points. These values are considerably higher than typically reported for the currently approved BPH medications (3 to 5 points) the latter which need to be taken on a daily basis indefinitely.

Further analysis of this data will be conducted following longer follow-up and also following the unblinding of the NX02-0017 and NX02-0018 trials. Results from the 3 month and 6 month time points post second injection for Study NX02-0022 will be reported separately when available.

NX-1207 is a novel drug developed by Nymox for the treatment of BPH and localized prostate cancer. The drug is administered transrectally in a simple routine office injection that takes only a few minutes, does not require sedation, anesthesia or catheterization, and involves little or no pain or discomfort.

NX-1207 previously successfully completed a series of blinded controlled multi-center U.S. clinical trials for BPH where a single 2.5 mg dose of NX-1207 was found to produce at 90 days an average improvement in the standardized symptom score much higher than that reported for currently approved BPH drugs without causing the sexual or cardiovascular side effects associated with those drugs. Follow-up studies showed evidence of long lasting benefit with many men who received a single dose reporting maintained improvement in BPH symptoms without other treatments for up to 5 years or more.

BPH is one of the most commonly diagnosed diseases in men. The condition can have a very negative impact on a man’s health and quality of life and can lead to urinary retention, incontinence and other medical consequences.

BPH increases with age and it is estimated that at least half of men in their 60’s or older have histopathological BPH and about a third of men at that age suffer from urinary symptoms and problems associated with BPH.

More information about Nymox is available at www.nymox.com, email: info@nymox.com, or 001 800-936-9669.




Inovio Pharmaceuticals {NYSE: IVO }

Inovio Pharmaceuticals HPV Immunotherapy Achieves Primary Efficacy Endpoint in Randomized Phase II Cervical Dysplasia Trial

Treatment with VGX-3100 induces regression of precancerous cervical disease and clears HPV infection with robust T cell responses

Inovio Pharmaceuticals, Inc. (NYSE MKT: INO) today announced successful results from its randomized, double-blind, placebo-controlled phase II trial of VGX-3100 in women with biopsy-proven cervical intraepithelial neoplasia 2/3 (CIN2/3) associated with human papillomavirus (HPV) types 16 or 18. Treatment with VGX-3100, Inovio’s HPV16/18-specific immunotherapy, resulted in histopathological regression of CIN2/3 to CIN1 or no disease, meeting the study’s primary endpoint. In addition, the trial demonstrated clearance of HPV in conjunction with regression of cervical lesions. Robust T-cell activity was detected in subjects who received VGX-3100 compared to those who received placebo.

“This is a significant step toward providing women and their physicians a non-surgical approach to the treatment of precancerous lesions by stimulating their immune system to eliminate high risk HPV infection and induce regression of a cervical intraepithelial neoplastic process,” said Mark Bagarazzi, MD, Chief Medical Officer, Inovio Pharmaceuticals. “This proof of concept trial will guide the advancement of VGX-3100 for precancerous dysplasias as well as HPV-associated cervical, head and neck, and anogenital cancers.”

Treatment was randomized 3:1 between the VGX-3100 and placebo groups, and was stratified by age and severity of CIN. The primary endpoint, histologic regression, was evaluated 36 weeks after the first treatment. In the per protocol analysis, CIN2/3 resolved to CIN1 or no disease in 53 of 107 (49.5%) women treated with VGX-3100 compared to 11 of 36 (30.6%) who received placebo. This difference was statistically significant (p<0.025).

Virological clearance of HPV 16 or 18 from the cervix in conjunction with histopathological regression of cervical dysplasia to CIN1 or no disease, a secondary endpoint of the trial, was observed in 43 of 107 (40.2%) VGX-3100 recipients compared to 5 of 35 (14.3%) placebo recipients (p<0.025).

As in the phase I study, VGX-3100 elicited robust HPV-specific T cell responses in the majority of treated subjects. A comprehensive analysis of T cell responses is ongoing.

The treatment was generally well-tolerated, with only administration site redness occurring significantly more frequently in the VGX-3100 group compared to the placebo group in the 7- and 28-day periods following treatment.
“Beyond the direct clinical implications of this phase II study, these results are a breakthrough for the field of immunotherapies. This efficacy and T cell data provide evidence that our SynCon® immunotherapy technology can activate the immune system to fight chronic infections, pre-cancers — and ultimately, cancers,” said Dr. J. Joseph Kim, Inovio’s President and CEO. “These results significantly de-risk our product and business development strategy for VGX-3100 and our broad pipeline of SynCon® active immune therapy and vaccine products.

“We thank the women who participated and the clinical investigators who provided patient care and made this trial possible.”

Topline results will be presented at the 2014 International Society of DNA Vaccines Conference in San Diego, on July 23, 2014. Detailed study findings will be submitted for publication in a peer-reviewed scientific journal.

About VGX-3100

Inovio’s VGX-3100 is an immunotherapy containing two DNA plasmids targeting the E6 and E7 oncogenes of HPV types 16 and 18. The treatment is administered to patients by injection into muscle (typically in the arm), followed by electroporation using Inovio’s CELLECTRA® device. VGX-3100 has been shown to induce a robust immune response against the E6 and E7 oncogenes associated with HPV types 16 and 18. These oncogenes are responsible for transforming HPV-infected cells into pre-cancerous and cancerous cells. Apart from this cervical dysplasia study, Inovio is also conducting studies using this immunotherapy against cervical as well as head and neck cancers caused by these HPV types.

About HPV-003 (ClinicalTrials.gov: NCT01304524; EudraCT: 2012-001334-33)

This phase II trial is a randomized, placebo-controlled, double-blind study of women with CIN2 or CIN3 who were randomized 3:1 to the active and placebo groups. Women in the active group received three 6 mg doses of VGX-3100 in a 1 mL intramuscular injection followed by electroporation with Inovio’s CELLECTRA® device at weeks 0, 4, and 12. Cervical tissue was examined before starting blinded treatment and 9 months later.
Cornelia Trimble, MD, Associate Professor of Gynecology and Obstetrics, Oncology, and Pathology, Johns Hopkins School of Medicine, is the principal investigator for the study.

About HPV and Cervical Dysplasia

Human papillomavirus (HPV) is the most common sexually transmitted disease. At any given time, approximately 11% percent of the world population is infected with HPV. Roughly 90% of HPV infections are cleared by naturally occurring immune responses within two years.

Persistent HPV infection can lead to dysplasia, or premalignant changes, in cervical cells. HPV types 16 and 18 cause 70% of cervical dysplasia and cervical cancer cases. Each year in the United States, 1.4 million women are diagnosed with CIN1 and 300,000-400,000 women are diagnosed with CIN 2/3. All cervical cancers arise from untreated CIN2/3.
About Inovio Pharmaceuticals, Inc.

Inovio is revolutionizing the fight against cancer and infectious diseases. Our immunotherapies uniquely activate best-in-class immune responses to prevent and treat disease, and have shown clinically significant efficacy with a favourable 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, University of Pennsylvania, 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.




Avalon Rare Metals Inc. {TXS.v: AVL}

Avalon Rare Metals Inc. {TXS.v: AVL} closed their recently announced financing in short order, with the private placement segment healthly over-subscribed.

Avalon raised CAD $2.166 million with a combination of a private placement and flow through shares.

Avalon Closes Non-Brokered Private Placement for Gross Proceeds of $2.166 million

(July 2, 2014) – Avalon Rare Metals Inc. (TSX: AVL) (NYSE MKT: AVL) is pleased to announce that it has closed its previously announced non-brokered private placement of flow-through common shares and non flow-through units (collectively, the “Private Placement”), as described in the Company’s news release of June 19, 2014 (<a href=”http://www.avalonraremetals.com/news/display/index.php?id=1044″>http://www.avalonraremetals.com/news/display/index.php?id=1044</a>).

The Private Placement was over-subscribed, resulting in gross proceeds of $2.166 million. Each Non Flow-Through Unit consists of one common share and one half share purchase warrant of the Company. Each whole warrant entitles the subscriber to purchase one common share of the Company at a price of $0.60 per share for a period of three years from the date hereof.

On Closing, the Company issued 1,653,866 Flow-Through Shares priced at $0.60 per Flow-Through Share and 2,445,000 Non Flow-Through Units priced at $0.48 per Non Flow-Through Unit and paid finders’ fees of $47,000. Certain directors and officers of the Company subscribed for an aggregate of 212,000 Flow-Through Shares and 60,000 Non Flow-Through Units.

Don Bubar, Avalon’s President and CEO, commented, “We are pleased to have completed this Private Placement on an over-subscribed basis. The proceeds from this Private Placement, along with the proceeds from the US$4 million Registered Direct Offering completed on June 13, 2014 (<a href=”http://www.avalonraremetals.com/news/display/index.php?id=10349″>http://www.avalonraremetals.com/news/display/index.php?id=10349</a>), provide the Company with sufficient funding to complete all of our currently planned work program commitments for the balance of 2014.”

The proceeds from the sale of the Flow-Through Shares will be used to fund the summer drilling programs and other eligible exploration work on Avalon’s 100% owned Nechalacho Rare Earth Elements Property, Thor Lake, NWT and its 100% owned East Kemptville Tin-Indium Property, Yarmouth County, Nova Scotia. The proceeds from the sale of the Non Flow-Through Units will be used for other engineering, permitting and market development work for the Nechalacho Project, as well as general corporate purposes.

The securities issued in connection with the Private Placement are subject to a hold period which expires on November 3, 2014.

About Avalon Rare Metals Inc.
Avalon Rare Metals Inc. is a mineral development company focused on rare metal deposits in Canada. Its 100%-owned Nechalacho Deposit, Thor Lake, NWT is exceptional in its large size and enrichment in the scarce ‘heavy’ rare earth elements, key to enabling advances in clean technology and other growing high-tech applications. With a positive feasibility study and environmental assessment completed, the Nechalacho Project is a potential large new source of heavy rare earths in the world outside of China, currently the source of most of the world’s supply. Social responsibility and environmental stewardship are corporate cornerstones.

For questions and feedback, please e-mail the Company at ir@avalonraremetals.com, or phone Don Bubar, President & CEO at 416-364-4938.




Inovio Pharmaceuticals Initiates Cervical Cancer Clinical Trial

Inovio Pharmaceuticals Inc. (NYSE MKT: INO) today announced it has initiated a phase I/IIa clinical trial to evaluate safety, immunogenicity, clinical responses and disease-free survival of its DNA immunotherapy product, INO-3112, in treating human papillomavirus (HPV)-associated cervical cancer.

This open-label study, called HPV-004, will evaluate INO-3112 in 20 female subjects, with inoperable invasive cervical cancer.

This cervical cancer study is being conducted at the University of Chicago Medical Centre.

Inovio’s Immunotherapy will Treat Women with Inoperable HPV-caused Cancer

BLUE BELL, PA – June 23, 2014 – Inovio Pharmaceuticals, Inc. (NYSE MKT: INO) today announced it has initiated a phase I/IIa clinical trial to evaluate safety, immunogenicity, clinical responses and disease-free survival of its DNA immunotherapy product, INO-3112, in treating human papillomavirus (HPV)-associated cervical cancer. INO-3112 is a combination of Inovio’s lead active immunotherapy product, VGX-3100, and its proprietary immune activator expressing interleukin-12 (IL-12). VGX-3100 is currently being evaluated in a randomized phase II efficacy trial for the treatment of high grade cervical dysplasia (pre-cancer).

This open-label study, called HPV-004, will evaluate INO-3112 in 20 female subjects with inoperable invasive cervical cancer. Subjects will receive four treatments of INO-3112 every four weeks after completion of a standard chemoradiation regimen. Each INO-3112 treatment will be a combination of 6 mg of VGX-3100 and 1 mg of DNA-based IL-12 delivered together intramuscularly with the CELLECTRA® delivery system.

As an exploratory analysis, the study team will evaluate clinical responses at the tumor site (tumor shrinkage or regression) and assess disease-free survival and disease recurrence up to 12 months after the initial immunotherapy with Inovio’s INO-3112. Cellular (T cell) immune responses will be analyzed pre- and post-immunotherapy in the tumor tissue as well as in the bloodstream.

In a phase I trial of VGX-3100, Inovio demonstrated that this HPV immunotherapy produced high levels of durable T cell immune responses, notably CD8+ T cells, in 78% of all patients. These CD8+ T cells showed the functional ability to kill target cells displaying the antigens E6 and E7. In preclinical animal models, this DNA-based immunotherapy demonstrated 100% protection against HPV E6 and E7-expressing tumors and prevented or delayed the growth of such tumors. The proprietary IL-12 immune activator, called INO-9012, was previously shown to enhance antigen-specific CD4+ and CD8+ T cell immune responses to Inovio’s PENNVAX® HIV DNA vaccine in a clinical trial. Inclusion of this DNA-based immune activator in INO-3112 is intended to further strengthen the generation of HPV-specific CD8+ T cells to treat HPV-caused cancer.

This cervical cancer study is being conducted at the University of Chicago Medical Center and at the Comprehensive Cancer Center at Silver Cross, IL, where Dr. Yasmin Hasan, Director of Gynecological Radiation Oncology and Brachytherapy, is the principal investigator.

Dr. J. Joseph Kim, Inovio’s President and CEO, said, “This study extends our pioneering HPV immune-based treatment into cervical cancer, the No. 2 cancer killer of women in the world. Our goal is to fully address the post-HPV infection immune therapeutics markets, targeting not only HPV-related cervical pre-cancer but also cervical cancer as well as head and neck and anogenital cancers.”

“Cancer immunotherapy is focused on generating cancer fighting T cells and freeing them to attack targeted cancer cells. Inovio has demonstrated that its therapies mobilize more antigen-specific T cells than any other product on the market or in development. We look forward to reporting unblinded cervical dysplasia phase II study data on efficacy and T cell responses by the end of July. Our aim is to have the best and most extensive pipeline of active cancer immunotherapies with the potential to seek out and destroy cancer cells,” said Dr. Kim.

HPV and Cervical Cancer

Human papillomavirus (HPV) is the most common sexually transmitted disease in the United States, infecting 79 million Americans and causing almost all cervical cancers. Approximately 12,000 women in the U.S. are diagnosed with cervical cancer annually and more than 4,000 will die from the disease. Worldwide, cervical cancer results in about 275,000 deaths per year. Currently available HPV vaccines are highly effective at prevention; however, they are not intended for women already infected with HPV or those who already have developed dysplasia or cancer. Current treatments include surgery (radical hysterectomy) and/or combination radiation and chemotherapy. These treatments have many potential damaging side effects.

VGX-3100 and INO-3112 for Treating HPV-Caused Diseases

Inovio’s lead product, VGX-3100, is a DNA-based immunotherapy for pre-cancers and cancers caused by HPV. This product, without an immune activator, is currently in a randomized, double-blind phase II trial evaluating its efficacy and immune responses against HPV-caused cervical dysplasia. INO-3112 combines this immunotherapy with a DNA-based IL-12 immune activator to further boost the targeted immune response against head and neck cancer, cervical cancer and other cancers.

Inovio’s Immune Activators

Immune activators can play a vital role in augmenting antigen-specific immune responses such as those generated by Inovio’s DNA vaccines. Inovio’s portfolio of patent-protected, DNA-based immune boosters vary in their ability to activate and enhance therapeutic T cells or preventive antibodies, modulate the type of immune responses produced by the vaccine, impact durability of immune responses, and drive immune responses to sites of infection, e.g. mucosal surfaces. Different immune activators can therefore play unique roles in achieving desired immune responses generated by DNA immunotherapies and vaccines. Moreover, while some protein-based cytokines and chemokines have been shown to have severe toxicity, likely due to their dosing levels and systemic delivery, Inovio’s DNA-based immune activators and immunotherapeutics are delivered together at one injection site with the goal of enabling local production by the body of cytokines or chemokines, along with antigens that drive immune responses with disease modifying benefits and no toxic systemic effects.

About Inovio Pharmaceuticals, Inc.

Inovio is revolutionizing vaccines to prevent and treat today’s cancers and challenging infectious diseases. Its SynCon® vaccines, in combination with its proprietary electroporation delivery, are generating best-in-class immune responses, with therapeutic T-cell responses exceeding other technologies in terms of magnitude, breadth, and response rate. Human data to date have shown a favorable safety profile. Inovio’s lead vaccine, a therapeutic against HPV-caused pre-cancers and cancers, is in phase II. Other phase I and preclinical programs target prostate, breast, and lung cancers as well as HIV, influenza, malaria and hepatitis. Partners and collaborators include Roche, the University of Pennsylvania, NIH, HIV Vaccines Trial Network, National Cancer Institute, U.S. Military HIV Research Program, US Dept. of Homeland Security, and University of Manitoba.




Colonial Coal International Corp.

Colonial Coal International Corp. (TSX.V:CAD) is pleased to announce that the British Columbia Ministry of Energy and Mines has issued a total of 26 new coal licenses the Company’s Flatbed and Huguenot properties.

The 19 coal licenses issued for the Huguenot property principally cover potential down-dip extensions to previously defined and reported resources plus additional resource potential east of the currently defined deposit; most of these new licences are located along trend from other coal projects located to the northwest

The Flatbed property is now comprised of seven coal licenses that cover a total of 9,077 hectares.

Colonial Announces 26 New Coal Licenses for its Flatbed and Huguenot Properties

VANCOUVER, BRITISH COLUMBIA–(Marketwired – June 16, 2014) – Colonial Coal International Corp. (TSX VENTURE:CAD) (the “Corporation” or “Colonial Coal“) is pleased to announce that the British Columbia Ministry of Energy and Mines (“MEM”) has issued a total of 26 new coal licenses the Company’s Flatbed and Huguenot properties.

In particular:

  • seven such licenses now form the Company’s Flatbed property and 19 licenses have been added to the original 13 licenses that previously formed the Company’s Huguenot property;
  • the Flatbed licenses cover 9,077 hectares and include the main targets reported in the Company’s January 29, 2013 news release;
  • the 19 coal licenses issued for the Huguenot property principally cover potential down-dip extensions to previously defined and reported resources plus additional resource potential east of the currently defined deposit; most of these new licences are located along trend from other coal projects located to the northwest; and
  • MEM’s review of the Company’s Notice of Work application for a Work Permit to undertake exploration of the Flatbed property is in process.

The Flatbed property is now comprised of seven coal licenses that cover a total of 9,077 hectares. A decision to grant coal licenses over an additional 2,400 hectares has been deferred to allow additional time for further evaluation of this area’s winter use by caribou belonging to the Quintette herd. The deferred ground formed the southernmost portions of the original coal license applications and does not contain any of the Flatbed property’s initial targets.

MEM is conducting their review of the Company’s application for a Work Permit that will allow them to conduct exploration activities on the Flatbed property. Although a firm timeline for approval of the permit is not available, the review has proceeded in conjunction with the coal license approval process, and any final requirements leading to a decision will be addressed.

The Flatbed property borders portions of the Quintette (Teck), Trend (Peace River Coal) and Duke Mountain (Teck) properties. The Company previously announced (January 29, 2013) that, based upon a review of various data from in and around the Flatbed property, the Company’s geological consultant identified three targets worthy of future exploration aimed at the location of underground mineable metallurgical coal deposits for seams targeted at depths between 200 metres and 600 metres.

19 new coal licenses covering 16,426 hectares have also been received from MEM for the Huguenot property. Previous to this, and in support of current initiatives to protect mountain caribou and their habitat, the Company agreed to withdraw application for approximately 1,130 hectares of identified winter habitat. The new licenses are in addition to the existing 13 coal licenses (covering 6,467 hectares) that previously formed the Huguenot property, bringing the total number of licenses to 32 with an overall area of 22,893 hectares. The new coal licenses principally cover potential down-dip extensions to the main deposit plus additional resource potential, located east of the main deposit, along a regional trend that includes the Wapiti (Canadian Dehua) and Flatbed coal projects to the northwest.

As reported in the Company’s September 24 2013 news release, the Huguenot property underwent a successful Preliminary Economic Assessment in 2013. Measured and indicated in-situ coal resources total 277.7 million tonnes, with Inferred resources adding a further 119.2 million tonnes, as tabulated below:

Deposit type Measured (Mt) Indicated (Mt) Inferred (Mt)
Surface 96.20 35.75 0.53
Underground 18.85 126.88 118.66
TOTAL 115.05 162.63 119.19

The project was found to have positive economics and to be worthy of continued exploration and development. Clean coal production of 89 million tonnes was projected over a mine life of 31 years from combined surface and underground mining operations. Coal resources accounted for in both the open pit and underground mine plans were estimated as:

Mining Method ROM (Mt) Clean (Mt)
Open Pit 56 39
Underground 66 50
TOTAL 122 89

“We are very pleased that our hard work, dedication and outreach to local First Nations, all levels of Government and stakeholders over the past five years has resulted in the confidence required for Government to issue these new and highly prospective coal licenses” said David Austin, Colonial’s President and CEO. “These new coal licenses are among the largest blocks to be issued in the last five years in northeast B.C. and are a good news coal story in this current short-term down cycle. Colonial’s staff will now focus on the review and development of potential exploration plans related to these new licenses while we await a decision from MEM on the pending Work Permit for Flatbed. Colonial continues to be committed to work with local First Nations, communities and stakeholders to seek their input and guidance with respect to our exploration and development of these properties.

This press release has been reviewed by John Perry, a director of the Company and a Qualified Person as defined in National Instrument 43-101.

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 our Company’s projects are located, hosts a number of proven deposits and has been the subject of M&A activities by Xstrata, Walter Energy, Anglo-American and others.




Nymox Pharmaceutical Corporation

Nymox Pharmaceutical Corporation (NASDAQ: NYMX) is pleased to report new data supporting the positive sexual functional preservation profile of NX-1207, the Company’s lead compound in Phase 3 development for the treatment of prostate enlargement (BPH or benign prostatic hyperplasia) and Phase 2 development for localized prostate cancer.

Nymox Reports Positive Update on Nerve Sparing and Sexual Function Preservation in Men Treated With NX-1207

HASBROUCK HEIGHTS, NJ (June 17, 2014) Nymox Pharmaceutical Corporation (NASDAQ: NYMX) is pleased to report new data supporting the positive sexual functional preservation profile of NX-1207, the Company’s lead compound in Phase 3 development for the treatment of prostate enlargement (BPH or benign prostatic hyperplasia) and Phase 2 development for localized prostate cancer. A detailed study of prostate tissues from men who had received intraprostatic injections of NX-1207 2.5 mg or 15 mg found that nervous tissues in the prostate after treatment were left intact and showed no damage. These new results showing that NX 1207 is nerve-sparing add to the considerable body of evidence that treatment with NX-1207 does not lead to the debilitating sexual side effects often associated with existing prostate treatments.

Men who receive surgical or drug treatments for BPH or prostate cancer, not uncommonly suffer sexual side effects of a permanent nature. These long term effects can include impotence, retrograde ejaculation, loss of libido, and other disorders. For this reason, men are often reluctant to seek necessary treatment or to continue with drug therapy.

The nerve-sparing findings are consistent with results from earlier studies which have shown evidence of sexual functional preservation in men after NX-1207 treatment, including 1) patient reports of no significant new clinical sexual problems, 2) no change in blood testosterone levels, and 3) sexual function questionnaire data showing no sexual side effects from NX-1207 treatment.

NX-1207 is a novel patented drug developed by Nymox that is administered by a urologist in an office setting directly into the zone of the prostate to be treated. The procedure takes only a few minutes, does not require sedation, anesthesia or catheterization, and involves little or no pain or discomfort.

NX-1207 successfully completed a series of blinded controlled multi-center U.S. clinical trials for BPH where a single 2.5 mg dose of NX-1207 was found to produce at 90 days an average improvement in standardized symptom score about double that reported for currently approved BPH drugs without causing the sexual or cardiovascular side effects associated with those drugs. Follow-up studies showed evidence of long lasting benefit with a significant proportion of men who received a single dose reporting maintained improvement in BPH symptoms without other treatments for up to 5 years or more.

Nymox recently announced the completion of its second pivotal Phase 3 trial of NX-1207 for BPH, NX02-0018, and top-line results for its Phase 2 trial of NX-1207 for localized low risk prostate cancer, NX03-0040.

BPH is one of the most commonly diagnosed diseases in older men. The condition can have a significant negative impact on a man’s health and quality of life and can lead to acute urinary retention, incontinence and other serious consequences. It is estimated that 50% of men in their 50s have pathological signs of prostatic hyperplasia and from 26 to 46% of men between the ages of 40 to 79 years suffer from moderate to severe urinary problems and symptoms associated with BPH.




Inovio Pharmaceuticals, Inc.

Inovio Pharmaceuticals, Inc. (NYSE: INO) has expanded its existing license agreement with the University of Pennsylvania, adding exclusive worldwide rights to technology and intellectual property for novel synthetic therapies against cancer, infectious diseases and new immune activators.

Inovio Pharmaceuticals Broadens its Intellectual Property Portfolio from the University of Pennsylvania

Expanded License Includes New Product Candidates for Cancer, Infectious Diseases and Novel Immune Activators

BLUE BELL, Pa., June 17, 2014 /PRNewswire/ — Inovio Pharmaceuticals, Inc. (NYSE MKT: INO) has expanded its existing license agreement with the University of Pennsylvania, adding exclusive worldwide rights to technology and intellectual property for novel synthetic therapies against cancer, infectious diseases and new immune activators. Inovio has an ongoing collaborative research agreement with the university to support fundamental research in the area of DNA-based vaccines and immunotherapies. All newly licensed products are in preclinical development.

These new pipeline candidates were developed using Inovio’s SynCon® design approach and were constructed and tested in preclinical animal models for their ability to generate potent antigen-specific T cell and antibody responses. Multiple patents have been filed and several manuscripts are being prepared for peer-reviewed journal publications.

Overall, this amendment broadens and strengthens the patent protection around previously licensed oncology and infectious disease targets by in-licensing expanded patents covering candidate products for DNA based synthetic antibodies and those covering dengue fever, H7N9 influenza, additional HPV serotypes as well as certain other undisclosed cancer antigen targets.

In addition, the amended agreement provides Inovio global rights to:

  • DNA-based synthetic antibodies – DNA plasmids are able to generate not only antigens and immune activators, but also encode for various monoclonal antibodies. Monoclonal antibodies (mAb) are designed to bind to a very specific epitope (area) of an antigen or cell surface target and can bind to almost any selected target. mAbs have the unique ability to alert the immune system to attack and kill specific cancer cells (as in the case of Yervoy®) or block certain biochemical pathways (such as those leading to rheumatoid arthritis, as in the case of Remicade®). Monoclonal antibodies, with their designer capabilities and potency, have consequently become a powerful class of products against cancers, autoimmune diseases such as rheumatoid arthritis, and neurological diseases such as multiple sclerosis.
  • Immune Activators (IL-21, IL-23 & IL-33) — Immune activators can play a vital role in augmenting antigen-specific immune responses such as those generated by Inovio’s DNA vaccines. Inovio has already deployed two different DNA immune activators (IL-12 and IL-28) in human studies. In a published clinical study, its DNA-based IL-12 immune activator significantly enhanced antigen-specific T cell immune responses from its HIV DNA vaccine, PENNVAX®: 89% of the subjects who received IL-12 DNA together with the PENNVAX® DNA vaccine delivered with electroporation produced a vaccine specific CD4+ or CD8+ T cell response compared to 67% who received the DNA vaccine alone without the IL-12 DNA. Under the amended license agreement with UPenn, Inovio also licensed additional intellectual property covering IL-12 encoded DNA plasmids, further strengthening Inovio’s IP position on IL-12. Initial data in animal models suggests that IL-21, IL-23 and IL-33 also have the potential to exert powerful influences on the immune system.
  • Middle East Respiratory Syndrome (MERS) — Since the infection was identified in 2012, 42% of MERS cases have been fatal. MERS is similar to the SARS virus which infected 8,000 people several years ago; but MERS is almost five times as fatal as SARS. There is currently no vaccine or effective treatment for MERS.
  • Tuberculosis – TB is second only to HIV/AIDS as the greatest killer worldwide due to a single infectious agent. In 2012, 8.6 million people fell ill with TB and 1.3 million died from the infection.

Dr. J. Joseph Kim, Inovio’s President and CEO, said, “Our SynCon® technology offers the potential to treat and/or prevent a broad array of cancers and infectious diseases, and has achieved best-in-class immune responses in human studies. This new intellectual property from the University of Pennsylvania expands the development and commercialization opportunities we can pursue with our core technology.”

Under the terms of the original license agreement completed in 2007 and expanded via subsequent amendments, Inovio obtained exclusive worldwide rights to develop multiple DNA therapies for HIV, hepatitis B and C, HPV and related diseases, influenza, multiple cancers, CMV (cytomegalovirus), RSV (respiratory syncytial virus), herpes, MRSA, and multiple other infectious diseases as well as chemokine and cytokine immune activators. In consideration, Inovio has made upfront as well as milestone payments and will in the future make additional milestone as well as royalty payments to the University.

About Inovio Pharmaceuticals, Inc.

Inovio is revolutionizing vaccines to prevent and treat today’s cancers and challenging infectious diseases. Its SynCon® vaccines, in combination with its proprietary electroporation delivery, are generating best-in-class immune responses, with therapeutic T-cell responses exceeding other technologies in terms of magnitude, breadth, and response rate. Human data to date have shown a favorable safety profile. Inovio’s lead vaccine, a therapeutic against HPV-caused pre-cancers and cancers, is in phase II. Other phase I and preclinical programs target prostate, breast, and lung cancers as well as HIV, influenza, malaria and hepatitis. Partners and collaborators include Roche, the University of Pennsylvania, NIH, HIV Vaccines Trial Network, National Cancer Institute, U.S. Military HIV Research Program, US Dept. of Homeland Security, and University of Manitoba. More information is available at www.inovio.com.




Cartier Resources Inc.

Cartier Resources Inc. (TSX.V:ECR) has provided recent results from its 2014 winter diamond drill program (see table) which when factored with the intersection of 10.3 grams per tonne gold over 5.0 metres included within an interval grading 2.4 g/t Au over 53.0 m in hole Pu-14-09 (Feb. 27, 2014, press release) confirm the extension of the gold-bearing system down to a depth of 650 m below the Pusticamica deposit. All of the diamond drill holes completed in the winter 2014 program intersected the gold-bearing Pusticamica zone and show characteristics (mineralization, alteration and texture) typically observed in important mineralized systems.




Inovio Pharmaceuticals, Inc

Inovio Pharmaceuticals, Inc. (NYSE : INO) today announced that it has been recognized with three prestigious industry awards at the World Vaccine Congress, in Washington, D.C. The Vaccine Industry Excellence (ViE) Awards recognize outstanding vaccine advancements and achievements of therapeutic and preventive vaccine developers across the global industry.

Inovio Pharmaceuticals Recognized with “Best Therapeutic Vaccine” Award at World Vaccine Congress 2014

Biotech Judged First-in-Class for Cervical Pre-Cancer Immunotherapy (VGX-3100), Which Reports Phase II Results Mid-year 2014

Also Awarded “Best Vaccine Licensing Deal” and “Best Early Stage Biotech”

 

BLUE BELL, Pa., March 26, 2014 /PRNewswire/ — Inovio Pharmaceuticals, Inc. (NYSE MKT: INO) today announced that it was recognized with three industry awards at the World Vaccine Congress, which is being held this week inWashington, D.C. The Vaccine Industry Excellence (ViE) Awards recognize outstanding vaccine advancements and achievements of therapeutic and preventive vaccine developers across the global industry as judged by a panel of global biotech industry stakeholders.

Inovio was given accolades by its industry peers for “Best Therapeutic Vaccine,” for its novel immunotherapy for cervical pre-cancers; “Best Licensing Deal,” for its $400 million collaboration with Roche for Inovio’s DNA-based immunotherapies for prostate cancer and hepatitis B; and, “Best Early Stage Vaccine Biotech,” for its ability to raise funds and build its broad pipeline of immunotherapies and DNA vaccines.

The “Best Therapeutic Vaccine” award recognizes VGX-3100, Inovio’s DNA vaccine designed to treat HPV-caused cervical dysplasia as well as cervical cancer, head and neck cancer, and anogenital cancers caused by HPV. Inovio is currently assessing the ability of VGX-3100 to treat cervical dysplasias caused by HPV infection in a global phase II trial, with results expected mid-year 2014. In previous human studies this therapeutic vaccine demonstrated that it not only drives robust immune responses to antigens from high risk types of human papillomavirus (HPV) infection but that these immune responses display a powerful killing effect against cells changed by HPV into pre-cancerous dysplasias. This desirable effect may ultimately contribute to the regression or elimination of cervical dysplasia and various cancers caused by HPV. These data have been published in the peer-reviewed journal, Science-Translational Medicine.

“The Best Vaccine Licensing Deal” recognizes industry business combinations that possess the greatest potential for success in bringing innovative medicine to the market. Last year, Inovio signed a $400 million collaborative agreement with pharma giant Roche to co-develop Inovio’s therapeutic vaccines for prostate cancer (INO-5150) and hepatitis B (INO-1800). The deal provided Inovio with an upfront payment of USD $10 million. Roche is paying for all preclinical and clinical development costs. Development and commercial milestones amount to potentially$412.5 million. Additional development milestones are payable if Roche pursues other indications with INO-5150 or INO-1800. Inovio is entitled to receive up to double-digit tiered royalties on product sales.

Inovio was also selected as “The Best Early Stage Vaccine Biotech” for its pioneering work to advance its portfolio of DNA vaccines to clinical stage candidates, with notable phase II study results of its lead immunotherapy forthcoming in the months ahead. Corporately, Inovio has raised over $120 million in the capital markets in the past year and established a major collaboration with Roche.

Dr. J. Joseph Kim , President and CEO, said, “We greatly appreciate the World Vaccine Congress’ recognition of Inovio’s leadership and innovation in advancing a vital new generation of immune-system-stimulating therapies and vaccines.”

About the ViE Awards

The World Vaccine Congress & Expo, now in its 14th year, is the largest and most comprehensive event in the industry. Covering everything from the latest R&D to manufacturing to corporate development strategies, theCongress hosts the only awards ceremony dedicated to the vaccine industry. The ViE Awards honor individuals, organizations and initiatives which have made significant contributions over the past 12 months to innovation in the field of vaccines.

About Inovio Pharmaceuticals, Inc.

Inovio is revolutionizing vaccines to prevent and treat today’s cancers and challenging infectious diseases. Its SynCon® vaccines, in combination with its proprietary electroporation delivery, are generating best-in-class immune responses, with therapeutic T-cell responses exceeding other technologies in terms of magnitude, breadth, and response rate. Human data to date have shown a favorable safety profile. Inovio’s lead vaccine, a therapeutic against HPV-caused pre-cancers and cancers, is in phase II. Other phase I and preclinical programs target prostate, breast, and lung cancers as well as HIV, influenza, malaria and hepatitis. Partners and collaborators include Roche, the University of Pennsylvania, NIH, HIV Vaccines Trial Network, National Cancer Institute, U.S. Military HIV Research Program, University of Southampton, US Dept. of Homeland Security, University of Manitobaand PATH Malaria Vaccine Initiative. More information is available at www.inovio.com.




Terrace Energy Corp. TSX.V: TZR

Terrace Energy Corp. TSX.V: TZR Further to its February 24, 2014 announcement the Company announced it had entered into an agreement (the “Farm-in Agreement”) to acquire a 75% working interest and a 56.25% net revenue interest in several leases.

Terrace Secures Significant Additional Acreage In Buda Limestone Formation In South Texas

Vancouver, BC March 26, 2014 – Terrace Energy Corp. (the “Company” or “Terrace”) (TSXV: TZR, OTCQX: TCRRF; Germany: 2TR) is pleased to announce it has reached an agreement to develop significant new acreage in Zavalla and Dimmit Counties on trend with recent, highly successful wells in the emerging Buda Limestone formation in South Texas.

On February 24, 2014, the Company announced it had entered into an agreement (the “Farm-in Agreement”) to acquire a 75% working interest and a 56.25% net revenue interest in several leases, that cover approximately 10,000 gross (6,700 net) mineral acres, by drilling a series of wells. The Company has now reached an agreement to develop the remaining 3,300 net mineral acres on the same terms and conditions as the Farm-in Agreement. With this agreement, the Company now has the right to test and develop the Buda Limestone over approximately 10,000 net mineral acres.

The project acreage is located in the core of the Eagle Ford Trend in South Texas and in close proximity to a number of prolific horizontal wells drilled into the naturally fractured Buda Limestone, including the publicized Hughes Heitz 302 3H, which produced over 250,000 barrels of light sweet crude oil in its first 18 months of reported production, according to the Texas Railroad Commission.  Utilizing leading edge underbalanced drilling techniques and recently available 3D seismic data, operators have reported achieving production results comparable to or exceeding Eagle Ford Shale wells in the area at significantly lower capital costs. Typical horizontal Buda wells in the area are being drilled and completed for capital costs in the range of $3.0 – $4.0 million as compared to Eagle Ford Shale wells, which typically cost in the range of $6.0 – $8.5 million.

Dave Gibbs, the Company’s President and Chief Executive Officer commented: “We are pleased we were able to secure the remaining net acreage in this project on the same terms as the Farm-in Agreement previously disclosed. We are confident the Buda Limestone formation, which is also present on our 147,000 gross acre Maverick County Project, is highly prospective and will be a core focus for our Company along with the development of our STS Olmos Project and other significant Cretaceous pay intervals that are present on each of our acreage holdings. This acquisition gives us control over the project’s development pace, which will be begin on or before August 1 of this year, and allows us to consider its development in partnership with strategic industry participants”.

About Terrace Energy

Terrace Energy is an oil & gas development stage company that is focused on unconventional oil extraction in onshore areas of the United States with a particular focus on South Texas.

ON BEHALF OF THE BOARD OF DIRECTORS

“Dave Gibbs”

Dave Gibbs, President and Chief Executive Officer

NEITHER THE 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.




Avalon Rare Metals Inc.

Avalon Rare Metals Inc. has received its Class A land use permit from the Mackenzie Valley Land and Water Board (MVLWB) to start preconstruction work at the Nechalacho rare earth elements project at Thor Lake, NWT, Canada.This permit allows the company to commence identified low-impact activities including site preparation, early camp erection, portal t and associated infrastructure.

AVALON RECEIVES LAND USE PERMIT TO START PRE-CONSTRUCTION AT THE NECHALACHO RARE EARTH ELEMENTS PROJECT

Avalon Rare Metals Inc. has received its Class A land use permit from the Mackenzie Valley Land and Water Board (MVLWB) to start preconstruction work at the Nechalacho rare earth elements project at Thor Lake, NWT, Canada.

This permit allows the company to commence, in a phased approach, identified low-impact activities including site preparation, early camp erection, portal development and associated infrastructure such as roads, power and water treatment. Avalon anticipates that a Class B water licence will be issued in the near future, which will allow the taking of water and deposition of waste as part of later phases of the proposed work program.

Donald Bubar, Avalon’s chief executive officer and president, commented: “The receipt of this land use permit represents another milestone in the ongoing development of the Nechalacho rare earth elements project. This permit allows us to proceed with the work necessary in 2014 to keep the project on schedule to achieve commercial operations by 2017/2018. Realizing this goal will ultimately depend on when all project financing is in place. Certainly, timely receipt of all necessary permits and licences helps mitigate perceived investment risk.”

The company is continuing the application process for securing full construction and operations permits by early 2015. Mark Wiseman, Avalon’s vice-president, sustainability, commented, “Based on the co-operative approach and responsiveness experienced to date with the MVLWB staff, we do not anticipate any significant delays in achieving this goal.”

We seek Safe Harbor.




Colonial Coal International Corp

cicc2

Vancouver, B.C., Canada – March 27, 2014 – Colonial Coal International Corp. (TSX-V:CAD) announces that its wholly -owned subsidiary, Watson Island Development Corporation (“WatCo”), has retained McMillan LLP to advance litigation in the British Columbia Supreme Court against the City of Prince Rupert (the “City”) to enforce WatCo’s rights in connection with the acquisition of Watson Island.

A Certificate of Pending litigation has also been filed to prevent the land from being sold to others while the litigation is outstanding.

WatCo has been working to purchase Watson Island for the last several years and has been making payments to the City of between $75,000 and $90,000 per month, under the terms of an Exclusivity Agreement. In furtherance of the Exclusivity Agreement, the City accepted a conditional offer to purchase for $5 million in 2012.

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Mining Terms and Definitions

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The following terms and definitions are a useful reference tool for the investor in mining stocks or for those following mining companies.

 

Mineral Resource Categories

P & P- Proven and probable reservesThese can be mined economically at particular prices.

M & I – Measured and indicated. A higher level of confidence in the resource. Measured is better than indicated.

Inferred – Estimated with low confidence. This is an initial estimate, or a rough draft. With more drilling, inferred ounces become M & I. Infill drilling is converting ounces to a higher category.

Au-eq = Gold equivalent. All metals converted to a gold valuation.

 

Economic Studies

Feasibility Study – Usually bankable, meaning based on the study, the project can get funded. Highest standards of quality, defines what the mine will be.

Pre-Feasibility Study – Closer to a feasibility study than a PEA but not bankable. More stringent than a PEA. What the mine should be.

Preliminary Economic Assessment (PEA) – Initial economic  study of a potential mine. Like a rough draft. Subject to change. In Australia this is known as a scoping study. What the mine could be.

IRR – Internal Rate of Return. Need to see at least 20% at lower metals prices.

NPV – Net Present Value. Current value of project based on the discounted analysis of future cash flow & expenses.

Cash costs / AISC (all-in sustaining costs)  – Cash costs = operating costs. Includes all the costs associated with producing an ounce of metal.
Some investors add $250 per ounce to cash costs to get a all-in sustaining cost figure, in preference to using the AISC figure quoted by a company.

 

Drill Results

– Measured in grams per ton (g/t) over meters.

– Multiply the grams by meters to get an idea of the quality of drill hole (i.e. 3 g/t over 10 meters = 30).

Width / Thickness is important. We need to see a minimum 4-5 meters. Less than that can be difficult to mine. This is why many high grade hits under 1 meter are ignored by the market.

For underground mining (below 300 meters), width and grade is very important. Might need to see 5-7 g/t Au over 4-5 meters as a minimum.

– For open-pit bulk tonnage mining, the resource generally needs to be +1 g/t and ~100 g/t Ag for Silver. This needs to be born in mind when evaluating drill results.

For oxide heap leach projects, +0.30 g/t can be mined profitably. 0.60 g/t and higher can be considered high grade. Good drill results are these grades over long distances (i.e. over 30 – 100 meters).

Recovery is most important thing for oxide deposits.

A step-out is a drill hole that is a considerable distance (~50 -100 meters) outside the  boundary of existing resource or mineralization.

A great drill hole that is 100 meters outside of a resource is more significant than a hit that is in an area already known to be mineralised.

Strike length is the longest horizontal distance for mineralisation.

 

Valuations

High grade and high margin assets get stronger valuations.

– For a producer, the reserve life of an asset plays a huge role in its valuation. Think of the reserve life as a potential price to cash flow valuation.
– If an asset only has 6-7 years  of reserve life, it wouldn’t be valued at more than 7x cash flow in a normal market.
Silver production gets a better valuation. If a junior gold producer trades at 8x cash flow, the same company as a silver producer could trade at 10x cash flow.
– Exploration and Development assets can be valued as a percentage of the NPV of a  project (or NAV of a company).
– Pre-financing, a project can trade at 0.20x to 0.30x NPV
– Optionality deposits are valued at 0.10x or less

 

Impact Minerals

 

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Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

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