Mid Day Mining Movers: GDW, TGE, CCE
Gold World (GDW, 0.055) Volume breakout on todays news: "Gold World Resources Inc. has signed a letter of intent (LOI) with the owner of the producing Liaotun gold mine, located in the "golden triangle" of China, which covers the provinces of Yunnan, Guizhou and Guangxi region." Approx 64 million shares o/s.
TG World Energy (TGE, 0.16) moving on no news. As of June 2009, the company had cash equivalents of $15.7 million or approximately 0.13/share. In November 2008 the company applied for reimbursement of approximately $10.2-million from Alaska's Oil and Gas Petroleum Production Tax incentive program. Status yet unknown. Approx 122 million shares o/s.
Commerce Resources (CCE, 0.52) Volume and movement continuing from Friday's news release. "CCE identifies new REE zone at Eldor." The Eldor property is turning out to be a pleasant surprise for CCE shareholders as work continues. CCE is also developing a large scale high tonnage tantalum-niobium deposit in Northern B.C. Over $30 million has been expended on the property, and the company hopes to be in production by 2012. Approx 111 million shares outstanding. The company is in the process of closing a $5 million private placement, to add to the approx $10 million already in their treasury. This amount will be sufficient to bring the Blue River project to feasibility.