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Sonora Resources Corp. (OTCBB: SURE) $0.47, Up 7%. Announced on September 15, 20011 an updated review of recent strategic activities.
During January of 2011, the Company announced the appointment of Juan Miguel Rios Gutierrez, as President & CEO. In 2004, he was the fourth person hired by First Majestic Silver Corporation ("FMSC") of Durango, Mexico where he helped to build that company from a junior mining exploration company on the TSXV to a major global silver producer (7.5m oz Ag in 2011). He first served with the company in the capacity of general manager in each of their three mining units, then as manager for new business initiatives and strategic planning. He left FMSC to begin working with Sonora, yet maintains excellent relations with them.
Shortly thereafter, in April, Sonora entered into a joint venture agreement with First Majestic under an option agreement for up to 90% of the 5,240 hectare Jalisco Group of Properties which offers extraordinarily detailed historic data with strong indicators for intensive future commercial activity. This acquisition was added to a portfolio that already included the 3,590 hectare Los Amoles property in the state of Sonora.
Los Amoles has produced significant samples of gold and silver and benefits from analogous regional geology and widespread exploratory efforts as defined by the prevalence of surrounding operations owned and operated by major producers Grupo Mexico and Industrias Peñoles, world leaders in silver production and two of the largest Mexican producers of gold, zinc, lead and copper.
Building on his previous experiences, Juan Miguel has prepared the Sonora blueprint for success through the development of a strategic plan that included the establishment of a Mexican subsidiary known as Finder Plata S.A. de C.V. in order to expedite the acquisition and exploration of future silver/gold properties and to serve as an important legal mechanism to ensure compliance with the regulatory requirements of Mexico.
This strategy has, in part, resulted in the recent acquisition of the Ayones Property made up of several claims encompassing the historically productive La Mazata multi-level underground silver mine, and the surrounding 47.8 hectare Ayones claims under an option exploration agreement for up 100% of the mineral rights from Industrial Minera Mexico S.A. de C.V., a subsidiary of Grupo Mexico. Most recently, the Company dramatically improved its position through the acquisition of the adjoining privately-owned 721 hectare Corazon claims which encircles Ayones, thereby creating direct access to a number of notable veins which trend outward from the central Mazata mine area and which have never been explored at depth.
At both the Ayones/Corazon and Los Amoles properties, the Company has acquired ready access to valuable above ground reserves in the form of tailings from historic mine workings. These deposits encompass a significant quantity of historic dump material which appears to contain consistent commercial grade mineralization offering a winning combination of easy access, low start up production costs and rapid earnings opportunities.
Based on the wealth of detailed data from previous exploratory efforts made available to Sonora, along with preliminary fieldwork, it has been noted that the dump material at Los Amoles produced numerous samples at over 200g/t Silver (in some instances much higher) and included substantial sampling indicating over 0.25g/t Gold. Additionally, the dumps at the Ayones property are estimated at over 30,000 tons with consistent grades of 150g/t Silver and 1.0g/t Gold anticipated.
All the project areas present themselves as prime resource targets for intensive efforts to prove the reserve estimates and commence exploitation plans. With the prices of precious minerals reaching record-breaking highs, the economics for commercial success are daily news. Here in Mexico, Sonora's experienced team has brought together an impressive series of industry partnerships alongside an excellent portfolio of known mineral-rich landholdings and intends to rapidly prove the in-situ asset value of its holdings in order to achieve corporate growth, acquire and develop future assets, and deliver shareholder value through the strength of reasoned strategic planning.
What They Do: The Company is focused on the acquisition and exploration of international silver and gold mining properties located in regions that enjoy stable politics, sound economies and friendly business environments.
Flotek Industries (NYSE: FTK) $5.57, Up 20%. Today provided select financial and operational data today in conjunction with the Company's presentation at the Independent Petroleum Association of America's San Francisco Oil & Gas Investment Symposium.As presented on the Company's second quarter earnings conference call, the Company had July revenues of approximately $23 million. In addition, the Company announced today that August revenues were approximately $25 million.
Flotek also announced that as of September 20, 2011, the Company had a cash balance of approximately $23 million compared to approximately $15 million as of June 30, 2011. In August, the Company made its regular semi-annual interest payment on its convertible debt of approximately $2.9 million.
What They Do: Flotek is a global developer and distributor of a portfolio of innovative oilfield technologies, including specialty chemicals and down-hole drilling and production equipment.
Sequans Communications (NYSE: SQNS) $6.90, Up 22%. Announced Monday after market close along with Huawei that they would begin a large scale trial in Shenzhen. This trial will be conducted on China Mobile’s TD-LTE network deployed by Huawei, using devices based on Sequans’ TD-LTE chipset. This is a significant milestone in the commercialization progress of TD-LTE.China Mobile has selected leading equipment vendors to deploy TD-LTE trial networks in six major cities in China and Huawei has been selected for the city of Shenzhen.
Huawei is responsible for building and deploying Shenzhen’s TD-LTE network. Sequans recently became eligible to participate in the China Mobile trials when its LTE chip technology won official approval from China’s Ministry of Industry and Information Technology (MIIT) after passing a battery of tests.
What They Do: Sequans Communications is a 4G chipmaker, supplying LTE and WiMAX chips to original equipment manufacturers and original design manufacturers worldwide.
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