Stocks to Watch: Gemini Explorations, Inc. (OTCBB: GXPI), Earth Biofuels, Inc. (OTC BB:EBOF) , Datameg Corp (OTC BB:DTMG) , Heartland Oil and Gas Corp (OTC BB:HTOG) , NWT Uranium Corp. (OTC BB:NWURF)
Featured Stock: Gemini Explorations, Inc.
(OTCBB: GXPI)
Current Price (0.14)
http://www.wallstreetstockreview.com/
Gemini Explorations Closes on Financing for the Re-Development of the Los Chorros Gold Mine
Mine Modernization Projected to Yield US$12,900,000 of Net Cash Flow to Gemini
CALGARY, AB----Dec 10, 2007 -- Gemini Explorations Inc. ("Gemini") (OTC BB:GXPI.OB - News) is pleased to report that it has completed negotiations for financing the modernization and complete re-development of the Los Chorros Gold Mine. The first tranche of US$500,000 should be received by Gemini in the next 5 days and the second tranche of US$300,000 within 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.
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 that the financing will close on specified dates, 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.
Contact:
Michael Hill President Gemini Explorations, Inc Suite 103240-11th Ave SW Calgary , AB T2R 0C3 http://www.geminiexploration.com email: info@geminiexploration.com 403-697-4877
Source: Gemini Explorations, Inc.
For an in-depth analyst report, please visit: http://www.wallstreetstockreview.com/
Earth Biofuels, Inc.
(OTC BB:EBOF)
Current Price (0.06)
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DALLAS--Dec 11--Earth Biofuels, Inc. (OTCBB:EBOF - News) today announced that the petition for involuntary bankruptcy filed against the Company on July 11th of this year was dismissed yesterday, December 10, 2007, by the U.S. Bankruptcy Court for the District of Delaware. Earth Biofuels, Inc. engages in the production, distribution, and sale of renewable fuels consisting of biodiesel, ethanol, and liquid natural gas, with a focus on biodiesel fuel, in the
Datameg Corp
(OTC BB:DTMG)
Current Price (0.04)
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Heartland Oil and Gas Corp
(OTC BB:HTOG)
Current Price (0.44)
http://www.wallstreetstockreview.com/
HOUSTON--Dec 11--Heartland Oil and Gas Corp. (OTCBB:HTOG - News) (FWB:HOCA) will this week install surface equipment and initiate production from the 5 coalbed methane wells it completed in Southeastern Kansas last week. In April 2007, Universal Property Development and Acquisition Corporation (OTCBB:UPDA) acquired a controlling interest in Heartland Oil and Gas Corp. and designated Heartland as its exploration and production arm. Since that time, UPDA acquired additional wells and acreage in
NWT Uranium Corp.
(OTC BB:NWURF)
Current Price (0.57)
http://www.wallstreetstockreview.com/
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