Calgary, AB 12/4/2007 7:10:00 PM
News / Finance

Financing for (OTCBB: GXPI) Gold Mine Modernization Reaches Final Negotiations

 

Stocks to Watch: Gemini Explorations, Inc.  (OTCBB: GXPI), Cavit Sciences, Inc.  (OTC BB:CVIT) , iVoice, Inc. (OTC BB:IVOI) , Uranium 308 Corp.  (OTC BB:URCO) , Cardima, Inc.  (OTC BB:CADM)

 

 

 

Featured Stock: Gemini Explorations, Inc.

(OTCBB: GXPI)

Current Price (0.15)

http://www.wallstreetstockreview.com/

 

 

Los Chorros Gold Mine Upgrade Projected to Generate US$12,900,000 Net Cash Flow to Gemini Explorations Inc.

 

-- Financing for Gold Mine Modernization Reaches Final Negotiations

 

 

Calgary, AB- December 4, 2007 -- Gemini Explorations Inc, (“Gemini”) OTCBB: GXPI, is pleased to report that it is in final negotiations for financing the modernization and complete re-development of the Los Chorros Gold Mine. The financing is equity based and should be completed within the next 14 days. The total cost of the project is estimated to be US$595,900, adding a contingency factor of 30% would bring the maximum projected total to US$774,700.

 

The Los Chorros Mine is currently being mined with extremely antiquated equipment and this report further solidifies Gemini’s belief that the project could be turned into a highly efficient producing gold project with low capital costs. Current mining operations at Los Chorros recover a low percentage of the available gold and precious metals present on the property. The plant would initially run at 30 to 50 tonnes/day with a targeted production rate of 100 tonnes per day during the first year. Minera Primecap Geological Services (MPGS) reported that a 100 tonne per day production rate would produce US$1,080,280 monthly and over US$12,900,000 annually. These estimates are based on US$730 per ounce gold with US$200 per ounce operating and production costs netting US$530 per ounce.

 

Historically one of the largest gold producing countries in the world, Colombia’s vast mineral potential has remained virtually unexplored using modern exploration and mining techniques. The Department (Province/State) of Antioquia alone produces over 1,000,000 ounces of gold per year currently, and most of it is produced from antiquated production equipment and facilities. Driven by a new era of political and economic stability and an investment-friendly mining code, Colombia has emerged as one of the resource sector’s most attractive new mining frontiers.

 

Notice Regarding Forward Looking Statements

 

This news release contains "forward-looking statements", as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934.  Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future.  Such forward-looking statements include, among other things, the expectation of the gold production of the property, the expected completion date of the redevelopment and modernization of the Los Chorros Gold mine and the low capital costs to upgrade the Los Chorros operating plant and the net cash flow estimates.Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with mineral exploration.  These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements.  Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate.  Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-KSB for the 2006 fiscal year, our quarterly reports on Form 10-QSB and other periodic reports filed from time-to-time with the Securities and Exchange Commission.

 

Michael Hill

President

Gemini Explorations, Inc

Suite 103, 240-11th Ave SW

Calgary, AB T2R 0C3

 

http://www.geminiexploration.com/  email: info@geminiexploration.com

 

403-697-4877

 

For an in-depth analyst report, please visit: http://www.wallstreetstockreview.com/

 

 

Cavit Sciences, Inc.

(OTC BB:CVIT)

Current Price (0.56)

http://www.wallstreetstockreview.com/

DELRAY BEACH, FL----Nov 30, 2007 -- Cavit Sciences, Inc. ("Cavit") (OTC BB:CVIT.OB - News) announced that it has disclosed in a Form 8-K that on November 29, 2007 it executed two Common Stock Purchase Agreements.As part of the financing, Cavit has begun to receive funding of $500,000 through the sale of its common stock to Vision International Enterprises, S.A. and Isthmus Investments Management S.A. ("Investors"). In addition, Cavit will issue the Investors common stock purchase warrants to purchase additional shares at exercise prices ranging from $.40 to $3.00 per share. The Agreements and terms are available on Cavit's Form 8-K.               Cavit Sciences, Inc. ("Cavit") is a biotechnology company engaged in developing treatments and prevention for cancer, viral infections, opportunistic infections, related diseases and the immune system. Additional information regarding our drug development, supplement line and Company information is available on the Company's website at: www.cavitsciences.com

iVoice, Inc.

(OTC BB:IVOI)

Current Price (0.0018)

http://www.wallstreetstockreview.com/

MATAWAN, N.J.--Nov 30--iVoice, Inc. (OTC Bulletin Board: IVOI - News) has released information in response to numerous inquiries regarding the distribution of the shares of Thomas Pharmaceuticals Ltd. to shareholders.The shares have been distributed to the shareholders of record and should be in your account shortly.                   iVoice has determined that the best way to create shareholder value, separate and apart from the operating performance of iVoice, is to implement new business opportunities by distributing shares of spin-offs to the Company's shareholders. The common stock distributions are part of a broader strategy relating to the transition of iVoice into a company focused on the development and licensing of proprietary technologies. We also continue to search for potential merger candidates with or without compatible technology and products, which management feels may make financing more appealing to potential investors.

Uranium 308 Corp.

(OTC BB:URCO)

Current Price (2.38)

http://www.wallstreetstockreview.com/

BEIJING, CHINA----Nov 30, 2007 -- Uranium 308 Corp. (OTC BB:URCO.OB - News) (the "Company") is pleased to announce that Christopher Metcalf and Martin Shen have been named as directors.Mr. Metcalf is currently President of Altitude Funds LLC and Vice President of GF Private Equity Group LLC. He has held a variety of senior positions in financial management and investment firms, including Vice President of the Graystone Research Group in Morgan Stanley, Vice President of Private Equity at KMV Capital LLC, and Vice President and Senior Financial Analyst at Charles Schwab Family Private Equity Fund. Mr. Metcalf holds degrees from the University of Chicago (MBA with Honors), and the University of Virginia (JD and Bachelor of Science in Commerce).                  Uranium 308 Corp. (The Company) is a mineral exploration and development company engaged in the acquisition, exploration and development of large scale low-cost, high-value properties internationally. Uranium 3O8 Corp's current primary focus is uranium exploration in Mongolia. http://www.uranium308corp.com/

 

 

Cardima, Inc.

(OTC BB:CADM)

Current Price (0.53)

http://www.wallstreetstockreview.com/

FREMONT, CA----Nov 30, 2007 -- Cardima, Inc. (OTC BB:CADM.OB - News), developer of the REVELATION® Tx, REVELATION® T-Flex ablation microcatheters and INTELLITEMP® Energy Management Device, announces today the appointment of Sung Chun, MD as its Chief Medical Officer. Dr. Chun completed his cardiology training at Stanford University School of Medicine and is a cardiologist specializing in electrophysiology. He went onto become an Assistant Professor and Associate Director of Cardiac Arrhythmia Service at Stanford University Medical Center. He is currently the Director of Cardiac Arrhythmia Services, Palo Alto Medical Foundation. Dr. Chun has participated in many of the important electrophysiology trials. He has also published widely in leading medical journals and made important contributions to research in this field.                        Cardima, Inc. has developed the PATHFINDER® Series of diagnostic catheters, the REVELATION® Series of ablation catheters, the INTELLITEMP® Energy Management Device, and the Surgical Ablation System (SAS). All of these devices are CE marked and received U.S. FDA 510(k) clearance. The REVELATION® Series with the INTELLITEMP® EP Energy Management Device was developed for the treatment of atrial fibrillation (AF) and received CE mark approval in Europe, however, is not currently available in the U.S.

 

 

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