Nevsun Resources Ltd. recorded $548-million (U.S.) in revenues for 2011 on sales of 369,900 ounces of gold for an average realized price $1,620 per ounce. With 379,000 ounces produced, gold production averaged approximately 1,000 ounces per day with an average cash cost per ounce sold of $295. The company had after-tax income of $250-million for the year, which translated to $0.74 earnings per share.
Jaguar Mining Inc. , which lost 1.5 per cent yesterday, provided an update on its operations, the full year and fourth-quarter 2011 earnings, the strategic review process led by the Special Committee and the adoption of a shareholder rights plan.
Sterling Resources Ltd. announced that its wholly owned Romanian subsidiary Midia Resources SRL, has obtained approval from the National Agency for Mineral Resources for an interest in the 1,000 square kilometre Romanian Black Sea concession Block 27 (Muridava). Midia will obtain a 40 per cent interest.
Petroamerica Oil Corp. , a company focused on oil exploration and production in Colombia, announced the results of its 2011 year-end independent reserves evaluation and provide an operational update of the company's current and planned activities in Colombia.
Whitecap Resources Inc. today reported its results for the three months ended Dec. 31, 2011. The company said revenues for the quarter was $47.5-million, up sharply from $9.7-million in the corresponding period of 2010. Net income was $3.2-million, erasing year-ago loss of $4.1-million.
TearLab Corporation today reported its consolidated financial results for the quarter ended Dec. 31, 2011. Net revenues were $499,000 as compared to $798,000 for the same period in 2010. Net loss was approximately $3.5-million, or $0.17. The loss for the three months ended Dec. 31, 2010 was $0.9-million, or $0.06 per share.
StrikePoint Gold , which was slightly above year lows yesterday, announced the commencement of a drill program at their Angelina property located at the east end of the Rice Lake gold belt in Manitoba. The drill was mobilized into the Angelina property ahead of the imminent spring breakup and the first hole has been completed. A field examination of the core indicates the presence of more sulphides than was observed in drill core obtained during the 2011 drill program.
Surge Energy Inc. posted much higher quarterly funds from operations (FFO), helped in part by higher production and increased drilling activity at its Alberta operations. For the October-December quarter, the company posted FFO of $22.1-million ($22.25-million), or 35 cents a share, up from $977,000, or 2 cents a share, a year ago. Total revenue rose 131 per cent to $42.8-million.
Tower Resources Ltd. announced the expansion, by staking, of the company's mineral tenures covering the Baez epithermal gold and silver property in British Columbia's Nechako Plateau region. Expansion of Tower's land position at Baez was deemed strategically important, as it gives the company control over additional land, which exhibits the presence of geophysical anomalies identified in legacy airborne data acquired by Phelps Dodge in 1993 and 1994.