Stocks to Watch: Gemini Explorations, Inc. (OTCBB: GXPI), Cubic Energy, Inc. (OTCBB:QBIK) , Glowpoint, Inc. (OTC BB:GLOW) , Norsat International Inc. (OTCBB: NSATF), Gilla Inc. (OTC BB:GLLA)
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,
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
http://www.geminiexploration.com/ email: info@geminiexploration.com
403-697-4877
For an in-depth analyst report, please visit: http://www.wallstreetstockreview.com/
Cubic Energy, Inc.
(OTCBB:QBIK)
Current Price (1.30)
DALLAS, Dec. 3, 2007 -- Cubic Energy, Inc. (OTC BB:QBIK.OB - News) (``Cubic'' or the ``Company'') announces today the current drilling of two additional Cotton Valley and Hosston wells in its Johnson Branch acreage in Caddo Parish, Louisiana. The Bonomo 35 No. 1 located in Section 35 T16N-R15W spud on November 23, 2007, and the Rye 34 No. 1 located in Section 34 T16N-R15W which spud on November 28, 2007, are each permitted to drill to a total depth of 10,500 feet. The Scotia Group, Inc. is an independent reservoir consulting firm with offices in Dallas and
Glowpoint, Inc.
(OTC BB:GLOW)
Current Price (0.47)
HILLSIDE, N.J.--Dec 3--Glowpoint, along with partners MSpace and TANDBERG, announced today that they will partner with the Freedom Calls Foundation, a non-profit organization, to provide free videoconferences for military families in the U.S. with their loved ones stationed in Iraq on Thursday, December 13, 2007 over the Freedom Calls satellite network. The combined effort is titled, “
Norsat International Inc.
(OTCBB: NSATF)
Current Price (0.65)
VANCOUVER, BC----Dec 3, 2007 -- Norsat International Inc. (Toronto:NII.TO - News) (OTC BB:NSATF.OB - News), a leading provider of intelligent satellite solutions, announced today that it provided a satellite terminal and associated support services to the United States Military Academy at West Point, for the Army-Navy football game held on December 1, 2007. This enabled the Academy to disseminate footage of the pre- and post-game events for the first time. Norsat International Inc. designs, engineers and markets intelligent satellite solutions for high-speed data transmission. Additional information is available at www.norsat.com. Further information is available through email at investor@norsat.com or by phone, 1-604-821-2808.
Gilla Inc.
(OTC BB:GLLA)
Current Price (0.85)
CARSON CITY, Nev.--Dec 3 -- Gilla Inc. (“Gilla”)(OTCBB:GLLA - News) has rescinded the Letter of Intent with Eastmark Limited, a private corporation, as reported in the latest 10Q-SB.Gilla has entered into a non-binding Letter of Intent with Free Mining Company S.A. (“FMC”) to acquire all the issued and outstanding of FMC, which is the owner of the rights of two mineral properties in Cameroon, respectively know as Mfoumou and Sele. The Government of the
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