Financial Press » FP Exclusives Breaking Business, Financial & Economic News Headlines Tue, 24 Mar 2015 18:26:03 +0000 en-US hourly 1 Baby Boomers Spend Billions to Stay Young Mon, 09 Mar 2015 13:30:11 +0000 Abattis Bioceuticals Signs $25 Million Deal with Dutchess Fund –

By Financial Press

According to New York based Transparency Market Research the global nutraceuticals market will reach $204 billion by 2017 – fueled by health obsessed baby-boomers – who still ski and play competitive sports into their 60s and 70s.

Abattis Bioceuticals (ATT-CSE) (ATTBF-OTCQX) is a vertically integrated nutraceuticals company focused on monetizing natural health products from ‘seed-to-sale’. An investor, aggregator and incubator, ATT addresses the entire commercial lifecycle of a variety of medicinal plants.

The company owns a portfolio of intellectual property including 15 proprietary formulas, seven registered US trademarks, two patent applications, over 500 Internet domains, and global rights to a Vertical Automated Growing System.

Abattis is active in the Canadian medicinal market place through its involvement with two Medical Marijuana Production applications and one Controlled Substance Dealer license (CSL) application with Health Canada.

“We have deeper technical knowledge and more ambitious financial goals than your average bio-tech company,” stated ATT CEO William (Bill) Fleming in an exclusive interview with Financial Press, “Through ownership and partnerships we maintain control over the complete product development process – including botanical research, extraction technology and drug delivery technologies.”

ATT’s diverse product pipe-line includes an innovative vertical growing system called ‘BioCube’ which provides a controlled cannabis cultivation environment for high yield marijuana growing.

Made with lightweight fireproof anti-microbial materials the 308 ft2 BioCube can grow up to 960 cannabis plants – compared to only 100 under conventional conditions. Recommended for indoor and outdoor use, BioCube’s low cost smaller housing promotes strain separation and provides insurance against mass crop failures.

“Biocube is a compact efficient method of growing plants in urban environments,” stated Fleming, “Since there are no restrictions on the equipment, we plan to sell it to companies in both Canada and the USA”.

The fully automated system is ideal for boutique-packaged, pesticide-free organic herbs, fruits and vegetables. It features a touch screen, software-based air-flow, irrigation and lighting system.

“Early estimates show that a single Biocube could yield the same amount of produce as an acre of dirt in the Midwest,” states Fleming, “It uses about 20% of the normal amount of water and because the environment is controlled there is no need for pesticides. The Biocube product is and will always be a work-in-progress whereby new technologies and customer demands will continuously define the product specifications for varying industry verticals”.

ATT’s vertical integration could induce a nose bleed. The tentacles of the company reach every link on the nutraceuticals value chain. As an example, its retail distribution arm owns Flash Freeze Extraction technology targeted to develop THC and CBD oils.

Part of Abattis’ future product roadmap is to use ‘waste streams’ such as stems and leaves to create natural health products and pharmaceuticals.

On February 10, 2015 Biocell launched a marketing initiative to deliver Hemp-based nutraceutical supplements to the licensed health care provider marketplace.

“There are four major pathways for nutraceutical distribution,” explains Biocell’s Brazos Minshew, “The top tier is always the professional marketplace targeting licensed healthcare providers. The physician or other licensed provider then makes the determination as to whether or not the nutraceutical will benefit the patient.”

Minshew explains that other distribution channels include Direct Response advertising (including Internet sales), Direct Sales associations and the Retail marketplace, including brick-and-mortar vitamin stores, pharmacies or dispensaries.

“Our nutraceutical products are potent, powerful extracts of classic herbal medicines,” states Minshew, “For example, Actaea racemosa is known to reduce nerve pain and pain associated with arthritis, as well as anxiety.”

Biocell’s marketing announcement follows an agreement reached with Empirical Labs for the exclusive use of patented liposome technology. Liposomes are related to transport molecules that dramatically improve nutrient absorption into the cells of humans and animals, making herbal remedies even more powerful and effective.

“Our next step is to license these nutraceuticals with Health Canada,” states Fleming, “And then to craft training literature for the doctors. We are anticipating product launches in Q2, 2015.”

Abattis is gaining traction in the mainstream media. A 2014 Forbes article titled, ‘8 Hottest Publicly Traded Marijuana Companies’ stated that, “Abattis provides cultivation systems, extraction equipment, and consulting services to growers. The company raised $3 million in private placements this year, and went on an acquisition spree.”

Savvy institutional investors are also placing their bets on the ability of Abattis’ ability to generate profits in this burgeoning multi-billion dollar market.

February 04, 2015 Abattis announced that it had entered into a US $25 million equity line facility agreement with Dutchess Opportunity Fund which provides capital to start-up, pre-IPO and publicly-traded companies. Since 1996, Dutchess has made over 400 investments globally, with a total transaction value exceeding $2 billion.

“As one of the most active institutional investors in cannabis-related enterprises, we are excited to add another to our portfolio,” stated Dutchess principal Douglas Leighton, “We remain very optimistic regarding Abattis’ current business, its significant growth opportunities and the ability of Bill Fleming and their team to deliver.

Fleming says that is he going to use the proceeds from the Dutchess financing arrangement to fund the continued development of the Company’s strategy spanning the entire industry supply chain from seed to sale.

“The additional funding will allow us to push forward with our acquisition and growth strategies of our services and products,” confirmed Fleming.
“Our goals for 2015 are for Abattis to become the largest vertically integrated Plant Based Medicine Company in North America,” states Fleming.

The ArcView Research Group predicts that the North American cannabinoid market will surge from $1.53-billion in 2013 $10.2-billion in 2018.

Abattis is currently trading at .16 with a market cap of $11 million.


Abattis Bioceuticals Corp.
(604) 336-0881


Legal Disclaimer/Disclosure: This document is not and should not be construed as an offer to sell or the solicitation of an offer to purchase or subscribe for any investment. Financial Press makes no guarantee, representation or warranty and a fee has been paid for the production and distribution of this Report.


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Tahoe Pays $1.35 Billion for Gold Mine in Peru Mon, 02 Mar 2015 14:35:37 +0000 Inca One’s Peruvian Gold Factory Ramps Up Production -

- By Financial Press

In the biggest gold take-over in 10 months, Tahoe Resources has agreed to buy Rio Alto’s La Arena gold mine in Peru for C$1.35 billion. Peru’s ‘political discount’ is evaporating and fortunes are being made in the Amazon jungle while the Bay Street analysts flutz with their calculators.

Peru is currently one of the world’s top producers of gold, with substantial production coming from artisanal miners who now need government-permitted milling facilities to process their ore.

Inca One(I0-TSX.V)(INCAF-OTC) is a Canadian-based ore processing company with a gold milling facility in Peru servicing small-scale miners. Construction of Inca One’s 100 tonne per day milling plant is complete. The company is generating cash as it ramps up to full capacity.

“We are currently processing up to 60 tons per day,” states President and CEO Edward Kelly in an exclusive interview with Financial Press, “When you’re dealing with high grade ore, operational protocols are critical to achieve high recoveries. We are still optimizing our mill. Currently recovery is at about 90%. A few percent here or there can make a big difference to the bottom line.”

Kelly and his operations team are steadily increasing production to the 100 tonne per day target. Full production is anticipated by the end of Q1 to early Q2, 2015.

“We forecasted the ore grade would be about half an ounce per tonne,” stated Kelly, “However the trucks are arriving at with an average grade of .9 of an ounce – which means a longer processing time. Higher grade equals higher profits so it’s a nice problem to have.”

Kelly wants Inca One to be known as the gold processing company that pays fairly and quickly.

“In our business, prompt payment is critical,” confirms Kelly, “The Peruvian miners have labour intensive operations. They have a lot of people to pay – and their livelihood is tied up in an inventory of rocks. So we take the customer-service part of our business very seriously.”

Last week Inca One had five customers show up at the same time with 20-tonne trucks loaded with ore. Kelly cites this as part of the teething process with the new facility.

“The five loaded trucks caused a bottleneck of ore at the cone crusher,” explains Kelly, “And guess what? Miners are just like anyone else. They don’t like lining up. So to avoid delaying the trucks, we upgraded our cone crusher.”

At 60 tonnes per day Inca One is breaking even and starting to make money. But Kelly states that it is not in the company’s DNA to tread water at 100 tonnes capacity. Inca One has formed an evaluation committee looking for expansion projects – including purchasing and upgrading existing gold mills and building new ones.

In the 34 days from December 3, 2014 to January 7, 2015 Inca One recovered 521 ounces of gold and 557 ounces of silver from 753 tonnes of material at its start-up operations at the Chala One plant. Total current value of the metal is $686,000. Kelly anticipates the next gold recovery will be about 50% higher.

“The biggest surprise is that Peru is such a straight forward place to do business,” states Kelly, “We are in daily contact with regional and national authorities on a variety of issues including business expansion and permitting for a new tailings pond. The key to success is to have experienced trustworthy local people in place.”

On February 18, 2015 Inca One announced an agreement to purchase 400 tonnes per month of ore with an anticipated grade of 30 grams per tonne gold from an additional mine in Peru. The company also closed a $500,000 financing to fund the purchase of mill feed materials for its Chala Plant. The financing was arranged by SC Strategy.


“The European and Swiss investors have been very pleased with the work performed by Inca One,” stated SC Strategy CEO Bjorn Paffrath, “Our focus is on sustainable projects with sincere partners who deliver on their promises. Ed Kelly and his team have so far exceeded our expectations in every aspect.”


“We will continue to add dollars to our balance sheet,” stated Kelly, “But we are a growth company which means we require infusions of capital to fund expansion.”

The new mining legislation in Peru has created a perfect storm of opportunity for Inca One. The company does not stake land, run seismic or drill. The risks are metallurgical, not geological – and therefore easier to control.

“The rules in Peru create something of a captive market for Inca One,” confirms influential Gold Newsletter Publisher Brien Lundin in the summer 2014 issue.

Dynacor Mines (DNG-TSX) also has a gold ore-processing business in Peru. Its plant has maximum capacity of 250 tonnes per day. Dynacor’s share price has risen from .17 to $1.90 in the last 5 years – an increase of 1,100%. DNG’S current market cap is $68 million.

Inca One, with its 100-tonne per day capacity, is currently trading at .23 with a market cap of $15.7 million.


Kin Communications Inc.
Email contact
Email contact


Legal Disclaimer/Disclosure: This document is not and should not be construed as an offer to sell or the solicitation of an offer to purchase or subscribe for any investment. Financial Press makes no guarantee, representation or warranty and a fee has been paid for the production and distribution of this Report.

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Uranium Price Surges 10% in One Month Mon, 02 Mar 2015 14:35:07 +0000 Brades Resource Partners with Fission 3.0. -

–By Financial Press

Major accidents at Rio Tinto’s (RIO-NYSE) Rössing uranium mine in Namibia and BHP Billiton’s (BHP-ASX) Olympic Dam in Australia have removed 8% of the global uranium supply. In the last 30 days, spot price of uranium has increase 10% to $38.75.

Brades Resource Corp(BRA-TSX.V) has partnered with Fission 3.0 to drill the Clearwater West property in Saskatchewan’s Athabasca Basin – the world’s largest source of high-grade uranium.

Fission 3.0 is the project operator, and it shares the same technical team as Fission Uranium. This team has discovered two major deposits in four years, using a proprietary model for finding uranium through airborne radiometrics, radon gas surveys and geophysics.

“Our main corporate focus is the joint venture with Fission 3.0.,” confirm Brades’ CEO Peter Wilson, “Clearwater West is adjacent to Fission Uranium’s PLS property, and only 15 kilometers away from the shallow high grade deposit. Fission 3.0 has the same management team as Fission Uranium, and they are applying similar exploration techniques on our J.V. property.”

Brades recently announced the commencement of the winter exploration program on the Clearwater West property. The program involves ground geophysics and 10 proposed drill holes costing about $1.04 million.

Fission 3.0’s team is headed by legendary uranium explorer Ross McElroy who led the technical team that made the discovery at Waterbury Lake, SK and at Patterson Lake South (PLS).

Wilson states that McElroy and his team have already identified the drill targets. The objective of the on-going geophysical work is to focus the drill program.  Fission 3.0 can pull a drill rig from its inventory on short notice.

“One of Brades’ advantages is that we are not required to make property payments,” states Wilson, “This maximises the amount of money that we can put into the ground.   In terms of protecting shareholder value, it’s a big plus. Some of our neighbours are severely financially stressed by the obligation of these property payments.”

The PLS deposit contains an estimated 80 million pounds of ‘indicated’ uranium and about 25 million pounds of ‘inferred’. More than 50% of the resource sits in a high-grade zone that can be mined at low cost.

Fission Uranium buy-out rumours involving Rio Tinto (RIO-NYSE)and Teck Resources (TCK-NYSE) are growing. Dundee Capital Markets analyst David Talbot called the Fission most recent resource numbers ‘truly phenomenal.’

“If Fission does get transacted, the market will then focus on the strongest joint ventures,” stated Wilson, “We have also picked up 24,000 hectares of additional properties which are adjacent or nearby to Fission 3.0’s other projects in the basin.”

There is a clean division of labour between Brades and the Fission 3.0 technical team. Brades handles the financing and Fission 3.0 designs and executes the exploration program.

“It is a good partnership because both teams are doing exactly what they are trained to do,” stated Wilson, “The upcoming drill program is a massive milestone for Brades. At some point in the near future I anticipate that there is going to be a wrap up of assets in the Athabasca Basin, especially with properties close to the PLS deposit.”

Wilson believes that uranium prices will continue to trend upward. According to the World Nuclear Association there are currently 435 nuclear reactors connected into national grids, 67 under construction, 164 on order and 317 proposed.

“Exploration at Clearwater West has progressed rapidly,” stated Fission 3.0 Chief Geologist Ross McElroy, “Surveys and ground prospecting, during Fall 2014 have helped us identify and prioritize a number of high priority targets close to the border with PLS and, just 330 meters away, Fission Uranium intersected near-surface anomalous radioactivity. We’ve now reached the stage at which drill testing these high profile targets is the logical next step.”

Fission 3.0 originally owned 9.9% of Brades  when the JV deal was first transacted and have increased their position on Brades’ last financing.

“You don’t need to be a geologist to see the similarities between our property the PLS discovery,” stated Wilson, “The collective understanding is that there are more big discoveries still to be achieved in this basin.”

Brades is currently trading at .06 with a market cap of $2.8 million.


Brades Resource Corp.
Brian Biles
604 687 7742


Legal Disclaimer/Disclosure: This document is not and should not be construed as an offer to sell or the solicitation of an offer to purchase or subscribe for any investment. Financial Press makes no guarantee, representation or warranty and a fee has been paid for the production and distribution of this Report.


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$810 Million Stock Investment Makes Canada Largest Foreign Investor in Albania Tue, 24 Feb 2015 14:35:31 +0000 By Financial Press

When the current government of Prime Minister Edi Rama swept into power in 2013, supported by major coalition partner Speaker Ilir Meta, there was wave of enthusiasm not only in Albania but amongst international economic observers. The government inherited a very difficult climate in Albania, a country that was perceived internationally as a difficult place to do business, plagued by crime and a lack of transparency. But, with the new government came with it renewed hope for the country.

As Bryan Slusarchuk, Chief Executive Officer of Canadian based Tirex Resources (TXX-TSXV) (TIRXF-OTC), states, “These are exciting times in Albania. Canada is the largest foreign investor in Albania right now but there is also some strong interest growing from investors in other western countries such as the United States, Germany and the UK. If the government keeps doing the right things, as tough as some of these steps are, I think Albania has a very bright future ahead.”

Fast forward from the difficult times of 2013 to today and the country’s economic prospects seem a whole lot brighter. The country has become an official European Union candidate country and Prime Minister Rama and his government have successfully waged a huge internal battle to destroy the country’s illegal marijuana growth and export industry. This tough on crime approach has been applauded throughout Europe but has not been easy. In fact, within the last month, two bombs exploded at buildings owned by family members of a senior police official and Interior Minister Saimir Tahiri. It’s clear that while Prime Minister Rama is intent on destroying organized crime, there are elements within Albania not happy about his progressive actions.

Outside of the war on crime, very successful by all standards, the government has worked hard to increase transparency within the country’s economy and has also pressed hard for reforms to the country’s judicial system. Also, prudent accounting and modern balance of accounts mechanics are finally being implemented in Albania. In fact, this month, the government announced that it has cleared up approximately EUR 64 million in accumulated unpaid bills to private companies that had remained previously unpaid although the work had long been completed.  All of these actions by the government have been welcomed, and mandated in many instances, by the European Union. This is starting to take a positive effect and Albania’s economy is set to grow again in 2015.

Much of the growth in small countries like Albania is driven by foreign investment. Albania benefits from being richly endowed geologically and with that comes investment from foreign companies involved in sectors such as oil and gas and mining. Canadian based Bankers Petroleum, for example, recently announced a USD $153 million capital investment program for 2015. This type of foreign investment pays big dividends in Albania. Indicative of this, between 2004-2013, Bankers has paid $304 million in royalties within the country, $2 million in local taxes to communes and municipalities and pays approximately $1.5 million annually in land rentals to 500 families.

Tirex Resources has been investing in the country since 2007 and has conducted the country’s first ever large scale, modern and systematic exploration program for copper, zinc, gold and silver. Earlier this month, Tirex was declared the winner of the bidding process for the Rehova Mining Property which is a past producing copper mine, mined via a combination of underground and open pit mining. While it was a past producer, approximately 84% of the originally defined historical resources are reported to be intact. The company also believes that, through modern definition, expansion and exploration drilling, there exists a potential for additional resources. Rehova is considered by many to be the jem of the Albanian copper mining industry but Tirex wants to put the mining district on the map for other metals. When asked about Rehova, Tirex Chief Executive Officer, Bryan Slusarchuk, noted “At Rehova, the company is aiming to define resources according to modern reporting standards and also is very eager to also test this area for zinc, gold and silver potential. The sole focus in the past was on copper. This government is working hard to attract more foreign investment and Tirex is proud to act as a leader in terms of ushering in what we believe will be a new era in the Albanian mining industry. In doing this, we are utilizing a best practices approach as to environment, health, safety and community in accordance with European Union and Canadian operating standards.”

For his part, Prime Minister Rama, is a believer that the future of Albania is within Europe. The Prime Minister, who is a renowned artist and also is a former winner of the world’s best Mayor for his term as Tirana mayor, has been vocal in his opinion that Albania’s future rests within a united Europe.  Just this week, Belgian’s Minister of Foreign Affairs Didier Reynders, praised Albania’s steps towards European Union integration and the United States has been a very strong supporter of Albania’s NATO role and the country’s commitment to lend its hand at fighting terror abroad. NATO’s Many in Albania consider the United States the country’s most important ally.  Regarding this special relationship between the United States and Albania, Slusarchuk goes on to say, “As Tirex has a huge United States investor base, we are acting as example in the United States investment community as to Albania being an investment destination. It takes time for a country to gain the attention of international investors, but I have seen a lot of positive steps in this regard during the past two years.”

The path to prosperity is never easy for emerging countries. But, with Albania taking the steps it has taken in the past two year and its strong natural resource endowment and favorable southern European location, it is a country to watch and may indeed emerge as a Balkan economic powerhouse.


Bryan J.R. Slusarchuk
CEO and Director

Tirex Resources Ltd.
700 — 510 West Hastings Street
Vancouver, B.C., Canada V6B 1L8
Tel. 604-687-7160
Fax. 604-608-9110

Legal Disclaimer/Disclosure: This document is not and should not be construed as an offer to sell or the solicitation of an offer to purchase or subscribe for any investment. Financial Press makes no guarantee, representation or warranty and a fee has been paid for the production and distribution of this Report.



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New invention aims to provide convenience and comfort for those living with diabetes Thu, 19 Feb 2015 14:05:20 +0000 Diabetes



New invention aims to provide convenience and comfort for those living with diabetes –

The International Diabetes Federation (IDF) expects the number of people living with diabetes to rise from 387 million in 2014 to 592 million by 2035, which will dramatically increase global demand for treatment and control of the disease.

Most people with diabetes control their blood glucose level with insulin. They need to regularly test their blood sugar during the day, and the standard test is finger pricking to draw blood, which is then applied to a test strip that provides a result.

But finger pricking, even with spring-loaded lancing devices, can be painful and stressful. Now researchers at the University of Calgary are developing what they believe could be a significant new method of blood sugar testing using a device which they say mimics a mosquito and is virtually undetectable as it draws blood.

Called the eMosquito – for electronic mosquito – the device could be in clinical trials within a year, according to Martin Mintchev, a director of M Pharmaceutical Inc. (MQ-CSE), a Vancouver-based company that is collaborating with the inventors of the new device to take it through clinical trials and regulatory approvals.

“This could be an important breakthrough for people with diabetes,” says Dr. Mintchev. “The eMosquito is a device that will automatically monitor their blood sugar levels throughout the day with less discomfort and stress than traditional methods. In addition, blood sugar data can be sent wirelessly to users’ smartphones and/or physicians, eliminating the need to carry bulky testing hardware.”

He points out that the IDF estimates that diabetes caused at least US$612-billion in health expenditure in 2014 – 11 per cent of total spending on adults globally.

According to industry analysts including Frost & Sullivan, BMI Espicom and IEK Industrial Technology Research Institute, the value of the global market for blood glucose measuring devices is expected to grow from an estimated US$845-billion in 2014 to US$897-billion in 2016.

“The care and treatment of people with diabetes is a potentially huge market,” adds Dr. Mintchev. “We believe this will mean growing demand for new and more convenient ways of testing blood sugar levels, which is why we are supporting the development of the eMosquito.”

M Pharmaceutical Inc. is pursuing interests in pharmaceuticals and biomedical devices. It signed an arm’s-length binding letter of intent with M Diagnostics Inc., a Calgary company that holds the rights to the eMosquito, which was developed by the shareholders of M Diagnostics Inc., Dr. Martin Mintchev, Dr. Orly Yadid-Pecht and Mr. Joseph Wang at the University of Calgary.

The letter of intent provides for the acquisition of all the rights to the eMosquito technology.

For more information on the eMosquito and M Pharmaceutical Inc., please visit the company website at









The three inventors of the e-Mosquito. From left, Dr. Orly Yadid-Pecht, Mr. Joseph Wang and Dr. Martin Mintchev.supplied

Mosquito bite provided inspiration for wearable blood sugar test device

Like most scientists, much of Martin Mintchev’s work is motivated by “what-if” questions. As a biomedical engineer, it’s only natural that his search for solutions to complex problems would focus on how to combine technology and medicine to develop new ways to help people with chronic illnesses like diabetes.

With that in mind, his question became: what if we could develop a wearable electronic microsystem that can automatically and sequentially activate and control miniature needles from a given set, the pricks of which would be hardly discernable, yet each of them would draw enough blood to test a user’s glucose level?

‘Can’t be done’ was the general response 10 years ago when Dr. Mintchev and fellow researchers began re-exploring an existing idea to develop a tool that would mimic nature, specifically a mosquito, to draw blood for medical testing. They spent several years on the project and advanced it in the laboratory to a first generation device, but it wasn’t practical enough to take it further. The materials available at the time simply didn’t match their needs, and the size of the prototype was similar to a deck of cards, which made it impractical to wear.

Then technology began to catch up. The emergence of shape memory alloys and further miniaturization of measuring instruments meant that a commercially viable and conveniently wearable electronic mosquito to provide diabetics with a new way of monitoring blood sugar was a distinct possibility – eMosquito became a reality.

Dr. Mintchev is currently a professor of Electrical and Computer Engineering at the University of Calgary and an adjunct professor of surgery at the University of Alberta in Edmonton. He is also a registered professional engineer in Alberta. He and two colleagues at the University of Calgary, Dr. Orly Yadid-Pecht and Mr. Joseph Wang, filed a patent for their invention last November and are now collaborating with M Pharmaceutical Inc. of Vancouver to conduct clinical trials and facilitate the regulatory approvals of the device.

Dr. Mintchev believes pilot clinical trials could begin within a year. In the meantime, the team will focus on building 10 to 15 prototypes to help perfect the technique and functioning of the device.

A key breakthrough in the quest for a viable eMosquito came with the evolution of new materials known as shape memory alloys.

“In our device, the shape memory alloy is a metal-like wire, which in a relaxed state is flexible and not rigid at all,” explains Dr. Mintchev. “But when you pass relatively small electrical current through it, it becomes tense and can exert enough force to control a miniature needle to penetrate the skin and extract a small whole blood sample. This creates the unique opportunity to design really flat, in-plane needle actuators controlled by infralow-power electronics that can be easily wearable by the patient, initially in the form of a small cuff, and eventually, as the technology matures, as a Band-Aid-like patch.”

Contained in a cuff that fits on the wrist or ankle, the present version of the eMosquito is controlled by its built-in electronics and powered by a small, flat battery. The device is programmed so that each of the needles from the set “bites” at a pre-determined time.

“The user is not aware of the exact moment of biting – much like an actual mosquito bite,” says Dr. Mintchev. “As soon as the needle reaches a capillary, it retracts. In most cases, capillaries are slightly closer to the skin surface than the nerve endings, so users should feel virtually nothing, but the capillary pressure will be sufficient for a small whole blood sample to appear at the base of the bite on the skin and a built-in standard glucose sensing strip will detect the glucose level.”

The electronics for measuring the glucose level from the extracted whole blood sample is the same as that in commonly used present-day finger pricking devices, but a lot smaller in size. Each needle from a given set only “bites” once, after which the electronic control moves to another needle of the same set, which bites in a slightly different location on the skin when it’s time for the next test. The process is repeated as often as necessary, until all needles in a given set are exhausted. At the end of the day, the cartridge set with the cells that contain the needles is replaced with a new one.

The timing of bites can be tailored to each user’s needs and monitored if necessary by a medical professional, care giver or parent.

“More frequent blood glucose tests during the day reduce the risk of diabetes-related health problems,” says Dr. Mintchev. “For all type 1 diabetes patients and about 20 per cent of type 2 patients – those who need insulin therapy – at least four tests a day are required.”

He believes an automated and regular testing system like the eMosquito will not only be more convenient and comfortable for users, but will also help them better understand their blood glucose trends.

Initially, insulin will continue to be administered as it is now by injection or infusion pump, but future generations of the eMosquito could include remote electronic control capabilities to connect it to a wearable transdermal insulin infusion pump that would automatically provide the right dose of insulin based on the results of each bite. Thus, two small, wearable and minimally inconvenient electronic “patches” (one to test blood glucose and the other to deliver the necessary insulin) can serve as an autonomous external artificial pancreas.

While the cost of the device if it is commercialized has not yet been decided, Dr. Mintchev believes it will be acceptable to the market because the materials from which it is made are relatively inexpensive.

“The application of shape memory alloy-based actuation creates the possibility that the cost of each individual eMosquito cell will be comparable to the cost of a single strip for glucose testing at the moment,” he says. “The cell itself will be connected to a standard glucose-sensing strip. The electronics and the reporting will be a one-time expense similar to the existing glucose monitoring devices associated with finger pricking. They are similar electronic devices.”

But the advantage of eMosquito, he adds, is convenience, regularity of testing and less stress and physical pain for users.








eMosquito uses the latest advances in technology to mimic nature – specifically the mosquito.

Fact check

What is diabetes?

Diabetes is a chronic disease that occurs when the pancreas is no longer able to make insulin or when the body cannot make good use of the insulin it produces. Insulin is a hormone made by the pancreas that lets glucose from the food we eat pass from the blood stream into the cells in the body to produce energy. All carbohydrate foods are broken down into glucose in the blood. Insulin helps glucose get into the cells.

Not being able to produce insulin or use it effectively leads to raised glucose levels in the blood, known as hyperglycaemia. Over time, high glucose levels are associated with damage to the body and failure of various organs and tissues.

There are three main types of diabetes:

Type 1 diabetes used to be called juvenile-onset diabetes. It is usually caused by an auto-immune reaction where the body’s defence system attacks the cells that produce insulin. People with this form of diabetes need injections of insulin every day in order to control the levels of glucose in their blood. If people with type 1 diabetes do not have access to insulin, they will die.

Type 2 diabetes used to be called non-insulin dependent diabetes or adult-onset diabetes and accounts for at least 90 per cent of all cases of diabetes. It is characterised by insulin resistance and relative insulin deficiency, either or both of which may be present at the time diabetes is diagnosed. People with type 2 diabetes can often initially manage their condition through exercise and diet. However, over time, most people will require oral drugs and/or insulin.

Both type 1 and type 2 diabetes are serious. There is no such thing as mild diabetes.

Gestational diabetes (GDM) is a form of diabetes consisting of high blood glucose levels during pregnancy. It develops in one in 25 pregnancies worldwide and is associated with complications to both mother and baby. GDM usually disappears after pregnancy, but women with GDM and their children are at an increased risk of developing type 2 diabetes later in life.

Maintaining blood glucose levels, blood pressure and cholesterol at or close to normal can help delay or prevent diabetes complications. Therefore, people with diabetes need regular monitoring.

Source: International Diabetes Federation


M Pharmaceutical Inc.

Investor Relations


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Poydras Gaming Finance Poised to Capitalize on Growing Tribal Gaming Industry Tue, 17 Feb 2015 15:00:32 +0000 Poydras Gaming Adds 600 Slot Machines to Growing Portfolio -

By Financial Press

According to the 2014 Indian Gaming Industry Report – U.S. Indian gaming facilities, including non-gaming operations, directly and indirectly generated 679,000 jobs and $91 billion in output. Slot machines generate about 70% of direct gaming revenues.

Poydras Gaming Finance (PYD-TSX.V) is focused on leasing and financing slot machines and related capital expenditures for casinos and gaming machine suppliers in the United States.

PYD owns and finances slot machines in Oklahoma and has a financing agreement with a gaming machine supplier based out of California. California and Oklahoma are the two largest states in terms of gaming revenue at Tribal casinos, generating a combined 38% of revenue.

“The bulk of our machines are currently located in Native American owned casinos in Oklahoma,” stated Poydras CEO Peter Macy in an exclusive interview with Financial Press, “We buy machines from manufacturers and place them on a casino floor, using a revenue-sharing model. In some cases we also finance complementary capital expenditures – like renovations or expansion”.

Growth in the gaming industry is driven by regional markets, and Oklahoma is a regional powerhouse, drawing players from surrounding states. Gaming revenue in Oklahoma has increased 15% over the most recent two year period for which data is available.

Poydras has a definitive agreement to acquire the Integrity Companies, a third-party provider of slot machines to Native American casinos, for $17 million in a combination of cash, stock and assumed debt. The acquisition is expected to add $5.5-$6.5 million of incremental annual EBITDA to Poydras’ bottom line.

“Casinos typically do not have access to capital or the equity markets,” explains Macy, “That provides us with an opportunity to put in cash-generating machines while helping the casinos remain competitive”.

In 1976, The Supreme Court ruled that states have no authority to tax or regulate activities on reservations. Within a few years, Native American tribes began to operate bingo halls and casinos.

“Native American tribes are viewed as sovereign states,” stated Macy, “Therefore they don’t pay federal taxes and very little in the way of state taxes. That is a big competitive advantage, but it does not create easy access to capital.”

Macy explains that no individual or institution can own equity in a casino – except the tribe that it benefits. That constraint eliminates the equity market. And the gambling regulatory environment is too complex for most private equity funds.

“You cannot foreclose on a Native American casino and take over the operations,” stated Macy, “By federal law the only entity that can operate it is the Native American tribe.”

This regulatory and fiscal environment has created a unique opportunity for Poydras.

“As a public company, we are focussed on de-risking our shareholders’ money,” stated Macy, “so we need a workable scenario if the relationship breaks down. We have never had a problem, but if we did, we would simply remove our machines from the building. We receive equity-like returns with an investment that is fundamentally secured.”

On January 13, 2015 Poydras, in partnership with the Integrity Companies, entered into a long-term gaming machine placement agreement with the Tonkawa Tribe of Indians of Oklahoma.  Poydras and Integrity will provide 600 Class III gaming machines and up to $5.5 million in funding for the renovation of the Native Lights Casino. The placement agreement is expected to generate approximately $6 million in annual revenue for Poydras.

“We’re anticipating closing the deal by late March, 2015,” stated Macy, “Gaming deals require normal exchange approvals but we also have to satisfy the regulatory bodies for each Native American tribe. So we have 25 licenses that need to be approved. Complex financing is part of the DNA of Poydras and the process is going smoothly.”

The deal adds about $5 million cash flow to Poydras’ bottom line. Macy likes the business model because the operational expenses are easy to control. The casino is responsible for taking money out of the machine every day. If someone spills a beer on a machine and it shorts out, Poydras has to fix it. But the direct costs are extremely low – around 10% of revenue.

Typically, new machines cost $15,000 to $20,000. High quality used machines go from $8,000 to $14,000. Macy expects about a 3 year payback on the acquired machines.

“There are about 900,000 slot machines in the US,” stated Macy, “150,000 of those machines are in our currently addressable markets. We think 5,000 machines is achievable in three years. We are already halfway to that with just organic expansion.”

There are currently 470 Indian gaming operations in the United States generating about $30 billion in gaming revenue, and Indian gaming operations continue to account for a larger percentage of the US gross gaming revenue.

Poydras is currently trading at .09 with a market cap of $11.8 million.


Poydras Gaming Finance Corp.

Peter Macy, CEO,

Phone: (604) 683-8393,



Legal Disclaimer/Disclosure: This document is not and should not be construed as an offer to sell or the solicitation of an offer to purchase or subscribe for any investment. Financial Press makes no guarantee, representation or warranty and a fee has been paid for the production and distribution of this Report.


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Aldrin Partners with Take-Over Target Fission Energy Tue, 10 Feb 2015 13:30:02 +0000 Founding CEO of FCU joins Aldrin TeamBy Financial Press

If it is true that you are known by the company you keep, Aldrin Resources (ALN-TSX.V) social status just made a quantum leap upward.

On February 5, 2015 Aldrin announced an agreement to purchase 50% of Fission 3.0 (FUU-TSX.V) Key Lake Uranium Package for $6.9 million staged expenditure. Four days later Dev Randhawa, Chairman and CEO of Fission 3.0., joined the board of Aldrin.

Mr. Randhawa is a messiah in the uranium space. He is the founding CEO of Fission Uranium Corp.(FCU-TSX)(FCUUF-OTC) – a $435m market cap uranium exploration company that owns the Triple R deposit at PLS in the Athabasca Basin. Mr. Randhawa was also the founding CEO of Fission Energy Corp.

“I am looking forward to helping Aldrin’s team progress their projects in Saskatchewan,” stated Randhawa, “Including the recently announced joint venture between Aldrin and Fission 3.0 on the highly prospective Key Lake property package”.

The Key Lake package contains five separate properties comprising 61 mineral claims covering about 18,000 hectares. The claims are sitting in the same group of basement rocks that host the major uranium deposits on the eastern side of the Athabasca Basin. A near-by Key Lake open pit uranium operation produced 209.8 million pounds from 1983 to 2002.

“In the last 24 months we’ve executed a successful drill program on our Triple M Property in the Athabasca Basin,” states Aldrin CEO, Johnathan More in an exclusive interview with Financial Press, “But the addition of the Key Lake Property creates a new horizon for our shareholders.”

Northern Miner Magazine’s 2013 ‘Mining Person of the Year’, Randhawa has recently resigned from another junior explorer. After a careful look at the players in this basin, he appears to be placing his bet on Aldrin.

“Mr. Randhawa knows the basin, he knows uranium, and he knows the Aldrin team,” confirmed More, “It’s a strategic partnership that I believe is going to deliver significant dividends.”

“As a project generator, we identify and acquire properties that have the potential to host high-grade uranium,” stated Randhawa, “our JV partners provide the financing, while our technical team, led by COO and Chief Geologist Ross McElroy, operates the project”.

Having discovered two major deposits in four years, Fission’s technical team has developed a proprietary model for finding uranium through airborne radiometrics, radon gas surveys and geophysics.

“Key Lake has the potential for near-surface, high-grade mineralization in basement rock,” stated McElroy, “We are going to utilize the in-house skills and techniques we’ve developed in recent years when we begin exploration this year.”

Although the uranium sector has been caught in a downdraft since the 2011 Fukushima Power Plant malfunction, global energy usage trends indicate that demand will sky rocket.

According to the World Nuclear Association there are currently 435 nuclear reactors connected into national grids, 67 are under construction, 164 on order and 317 proposed.

“The Athabasca basin will be the biggest source of uranium for the whole world,” predicted Energy Guru Thomas Drolet in a Financial Press Interview, “Aldrin is distinguished by its location, size and the geological indicators which suggest there is a strong potential for an economic uranium mine.”

Location, location, location. Key Lake is in the vicinity of the 2012 Patterson Lake discovery on the western side of the Athabasca Basin.

Patterson Lake is a shallow deposit, amenable to an open pit, located in basement rock that is typically easy to mine. Analysts unanimous agree that Fission’s PLS discovery is one of the most significant uranium finds in decades.

The deposit contains an estimated 80 million pounds of ‘indicated’ uranium and about 25 million pounds of ‘inferred’. More than 50% of the resource sits in a high-grade zone that can be mined at low cost.

In a recent communication, Dundee Capital Markets analyst David Talbot called the Fission resource numbers ‘truly phenomenal.’

Fission buy-out rumours involving Rio Tinto (RIO-NYSE) and Teck Resources (TCK-NYSE) have now reached deafening levels, but Randhawa has stated that he is in no rush to do a deal as Fission continues to expand its resource.

“We don’t control if someone comes and makes a run at us,” stated Randhawa, “But we are ready for it if someone does.”

This backdrop is significant for Aldrin shareholders because explorers like Randhawa and McElroy will shift their focus quickly after a buyout and the Key Lake Property is geographically and geologically positioned to take center stage.

Aldrin is trading at .20 with a market cap of $4 million.


Aldrin Resource Corp.
Johnathan More

Legal Disclaimer/Disclosure: This document is not and should not be construed as an offer to sell or the solicitation of an offer to purchase or subscribe for any investment. Financial Press makes no guarantee, representation or warranty and a fee has been paid for the production and distribution of this Report.

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Diabetes Spending Doubles in 20 Years Wed, 04 Feb 2015 17:55:54 +0000 M Pharmaceutical ‘Mosquito’ Automates Conventional Blood Sampling –By Financial Press

According to a new study by the Centers for Disease Control and Prevention (CDC), the cost of managing diabetes has doubled in the past 20 years.

In the last half decade major bio-tech companies have placed big bets on diabetes treatment include Merck (MRK-NYSE) – up 62%, Eli Lilly (LLY-NYSE) – up 110% and Novo Nordisk (NVO-NYSE) – up 220%. Much of this research has focussed on replacing blood sampling protocols.

M Pharmaceutical (MQ-CSE) device, the ‘e-Mosquito’ – uses cutting edge micro-electromechanical systems to create a patch-like structure that can bite through the skin, extract a miniature blood sample, and analyze it instantly – reporting the results wirelessly to the patient or a 3rd party.

“The e-Mosquito penetrates the skin and takes a blood sample in a mosquito-like fashion, reaching the capillaries, but not the nerve endings,” confirms MQ inventor and Director, Dr. Martin Mintchev, in an exclusive interview with Financial Press.

Dr. Mintchev is globally revered inventor who has authored more than 150 peer-reviewed biomedical publications and has 15 issued or pending patents, eight of which are licensed by major companies. Mintchev has an international reputation for harnessing scientific innovation to commercial applications.

“The medical scientific community has been chasing the holy grail of automated monitoring and treatment for diabetics,” explains Mintchev, “They are trying to create a world in which diabetics can live exactly like non-diabetics and forget that they have the disease. But these radical new ideas have not gained traction in the marketplace”.

Subcutaneous implantation, for instance, still requires calibration by finger pricking. Mintchev feels that being realistic is a better business strategy than being radical.

“Blood sampling is still the best way to monitor glucose levels,” confirmed Mintchev, “So the challenge is to make a significant technological advance – accepting the premise that blood sampling is here to stay.”

Currently, diabetics are required to prick their fingers multiple times a day, extracting a small blood sample, and then attaching a sensor to it that will measure the glucose level.

“The patient has to perform each action, typically in the corner of a room or a washroom,” stated Mintchev, “It is an onerous burden, particularly for the elderly, the blind and children.”

The e-Mosquito will replace a cumbersome invasive series of processes with an autonomous device that will do the work painlessly in the background.


Mintchev has received advanced degrees in electronics from Bulgaria, and he has a PhD in biomedical engineering from the University of Alberta. He is currently a professor of Biomedical Engineering at the University of Calgary and an Adjunct Professor of Experimental Surgery at the University of Alberta.


“With the Phase One of the Mosquito we’ll be able to say, ‘look wear this bracelet and it will silently and painlessly monitor your glucose level throughout the day,’” stated Mintchev, “The patient will maintain a glucose range without the logistical challenges of finger pricking. That will be a significant improvement in care for Type 1 and Type 2 diabetics.”


Mintchev anticipates that Phase Two will employ the same bio-mechanical technology to administer insulin which is currently being developed. The vision behind Phase Two is to have the e-Mosquito be an out of body, fully functioning pancreas.

“That is my plan for the future,” stated Mintchev, “In the morning the patient will put on two cuffs, one for monitoring and one for the administration of insulin. It would be minor inconvenience, delivering a higher level of medical care.”

Mintchev anticipates that the e-Mosquito will be free and the device will be monetized through the sale of proprietary replaceable parts such as the daily mosquito needles and testing strips. He intends that the cost of each ‘bite’ (blood sample) should not exceed the cost of two conventional finger pricks.

“I do not want the Mosquito to be a luxury item,” confirmed Mintchev, “I also do not want to promote the illusion that some magic diabetes management tool is around the corner that will be totally non-invasive. Billions of dollars have been spent trying to achieve that result, and it hasn’t worked.”

Globally, approximately 400 million people are afflicted by diabetes and of those 400M, roughly 10% are Type 1 and another 20% are type 2 insulin-dependant. M Pharmaceutical is targeting near to 100 million of the 400 million people afflicted worldwide.  Unfortunately, diabetes seems to be a growing affliction at around 5-8% annually. It is now coming to light that a large portion of the populous suffering from diabetes are now located in developing markets. China alone has 92 million diabetics; while India’s diabetic population is over 50 million.

With the advancement of Micro-Electro-Mechanical Systems (MEMS) it becomes possible to integrate all of the Mosquito’s components into a cuff-based wearable device.

The Mosquito offers a convenient solution to all Type 1 diabetic patients who are required to perform blood glucose level testing and insulin-dependent Type 2 diabetic patients. Its three core benefits are: autonomous operation without patient involvement, no fingerpicking pain and inconvenience, and capability of third party monitoring, which could be particularly valuable for children, elderly and or the blind.

According to the World Health Organisation, diabetes causes five million deaths per year while costing $540 billion in annual health-related expenses, including treatment, medications and loss of productivity.

MQ has been listed for less than a week and is still flying under the radar of most brokers and retail investors.

The company is currently trading at .025 with a market cap of $2 million.

Contact Information:

M Pharmaceutical Inc.

Investor Relations


Legal Disclaimer/Disclosure: This document is not and should not be construed as an offer to sell or the solicitation of an offer to purchase or subscribe for any investment. Financial Press makes no guarantee, representation or warranty and a fee has been paid for the production and distribution of this Report.

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Massive Uranium Numbers Re-Ignite Buy-out Rumours Wed, 28 Jan 2015 13:25:11 +0000 Micro-Cap Makena Resources Develops Uranium Project Adjacent To Discovery –-By Financial Press

Interview with Negar Adam, President, Director
Makena Resources(MKN-TSX.V)(CANSF-OTC)

On January 9, 2015 Fission Uranium Corp. (FCU-TSX.) released a maiden resource estimate for its Triple R Deposit at Patterson Lake South, Saskatchewan that radically exceeded the projections of all uranium analysts.

The deposit contains an indicated uranium resource of 79.6 million pounds U3O8, plus an inferred resource of 25.9 million pounds for a total resource of 105 million pounds. The estimate has heated up rumours of an FCU buyout – which could have significant ramifications for other uranium explorers adjacent to the discovery.

One of the smallest of these companies – and arguably the most leveraged is Makena Resources(MKN-TSX.V)(CANSF-OTC), whose Patterson property directly border Fission’s Patterson Lake discovery.

“Our Patterson land package is bordering the Fission discovery,” confirmed Makena President and Director Negar Adam in an exclusive interview with Financial Press, “We believe this may have caught the attention of the market and is giving Makena a wider audience.”

Makena is about to conduct a gravity survey on its property for the first time, with the intention of defining drill targets by March 2015.

Buyout candidates for FCU include Denison Mines Corp. (DML-TSX), the Lundin backed uranium producer that has expansion ambitions in the Athabasca Basin. Cameco Corp. (CCO-TSX), Canada’s largest uranium company, is another potential buy-out candidate. Cameco bid for Hathor’s Roughrider deposit in 2011 but lost to Rio Tinto.

“Many investors who would profit if a buyout occurs are likely going to look in the Patterson district again, and more than likely will look at the juniors in the area. We may potentially be looking at up to $500 million of unallocated investment capital that may be reinvested in the Patterson district. As Makena has a current market capitalization of less than $2 million, management feels that Makena may potentially benefit from some of these funds considering we directly border this discovery,’” stated Adam.

Makena has recruited uranium legend Dr. Schimann to its advisory board. From 1977 to 1997, Schimann was employed by French uranium giant AREVA as a Senior Geologist, where he was a key member of the team that discovered the massive Cigar Lake uranium mine. Ten of Schimann’s years at AREVA were spent in uranium exploration and mine development, mainly in the Athabasca Basin.

“Adding a uranium geologist with Dr. Schimann’s experience and pedigree within the Athabasca Basin to our advisory committee demonstrates Makena’s focus on developing the Patterson Block of properties,” stated Adam, “With Dr. Schimann involved, we are even more optimistic about the ability to develop this uranium project.”

Combining magnetic and the electromagnetic data, three structures have been mapped on the Patterson Uranium Property. Two of these structures trend NW and one trends NE. The basement is estimated to be at a depth of about 150 metres, based on historical drill holes within the property and adjacent to it.

“We have multiple targets that we are in the process of testing,” stated Schimann, “The identified structures are often associated with uranium mineralization. The upcoming ground survey and drill program will reveal whether these anomalies have associated uranium mineralization.”

Makena appears to be part of a rising tide. Uranium prices have been suppressed by surplus inventories created by Japan’s 50 shut down reactors. Japan will begin restarting these nuclear plants in 2015.

China has 28 nuclear reactors under construction, with another 49 planned and 120 proposed. Vietnam, Turkey, Indonesia, Egypt and Kazakhstan are all building their first reactors.

According to the World Nuclear Association, Global uranium demand will rise 48% by 2023.

“In the future, the Athabasca Basin will be the biggest source of uranium for the whole world,” stated Uranium Guru Thomas Drolet in a recent interview with Financial Press.

Major mines in the Athabasca Basin include McArthur River (16.5% U3O8), Maclean Lake (50 million lbs produced), Rabbit Lake (186 million lbs produced), Cigar Lake (22.3% U3O8), Cluff lake (60 million lbs produced).

Nuclear power is the cleanest form of energy on the planet. Cities need a reliable supply of electricity. Renewable energy stops delivering when the wind doesn’t blow or the sun doesn’t shine. Coal is not clean. That leaves a big role for nuclear energy.

“Makena currently has one of the smallest market capitalizations of any company that borders the Fission Discovery,” stated Adam, “We are hopeful that the next exploration phase could significantly advance the valuation of our project.”

Fission Uranium’s latest resource estimate has confirmed that the discovery is real and it appears only a matter of time before they will be bought out. FCU’s current market capitalization is $430 million. The buy-out figure for FCU is projected to be half a billion to $700 million.

Makena is currently trading at $0.04 with an approximate market cap of $1.45 million.


Makena Resources Inc.
Negar Adam
President, Director


Legal Disclaimer/Disclosure: This document is not and should not be construed as an offer to sell or the solicitation of an offer to purchase or subscribe for any investment. Financial Press makes no guarantee, representation or warranty and a fee has been paid for the production and distribution of this Report.


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Expectations on Stimulus Fuel Hope For Copper Demand Mon, 26 Jan 2015 15:52:40 +0000 Copper North Finds $200 Million of Precious Metal in Copper Project –

By Financial Press

Fitch Ratings has predicted that sustained Chinese demand will protect copper prices from a sharp sustained fall. While Chinese GDP growth is slowing, armies of cranes still clutter the skyline, and monthly copper imports are holding steady. “Copper is unlikely to see the same extended decline as oil and iron ore,” the Fitch report stated.

Copper North (COL-TSX.V) has unveiled a new processing plan for the recovery of copper, gold and silver at Carmacks project in the Yukon.

“Since taking over this project in March 2014, I have been working on three principal objectives to change the economics of the project from average to spectacular,” stated President, CEO and Director Dr. Harlan Meade in an exclusive interview with Financial Press.

The first objective was to establish gold and silver credits. COL now has a Measured & Indicated mineral resource containing 133,700 ounces payable gold and 1,279,000 ounces payable silver.

“At today’s spot prices that is close to $200 million dollars of precious metals that were unaccounted for in previous economic modelling,” stated Meade.

The second objective was to reduce production cash costs. The gold and silver recovery creates a projected 28% increase in life-of-mine net revenue – reducing cash costs from US$1.60 per pound of copper to US$1.07 per pound.

“On a graph with our global peers, that moves us from the middle of the cost curve, to the very bottom,” stated Meade “This significantly de-risks the mine because we will still be profitable at much lower copper prices.”

The third objective was to improve the short and long term financial health of the Copper North.

“When I took over ten months ago, Copper North was $1.5 million in arrears,” stated Meade “Shortly it will be debt free and have enough cash to cover expenses and fund on-going feasibility work. We are exploring gold and silver metal streaming transactions to fund project development. This would enable us to raise a big chunk of the capex of the mine, without share dilution or hedging of the copper.”

A pilot test program confirms that the oxide mineral resources at Carmacks can be optimized using an “agitated tank leach” for both copper and the gold and silver.”

Meade cites three reasons why the agitated leach is an important milestone. “One, we do not need to grapple with the environmental stigma around leach pads. Two, it eliminates logistical challenges that come from maintaining a leach pad during extreme winter conditions. Three, it removes a number handling steps and provides more operational control to optimize recovery.”

The agitated tank leach is a contained system with a small footprint. The July 2014 Preliminary Economic Assessment projects a capital cost reduction for the mine of about 30%. The new target is about $150 million.

“Leaching of heaps in winter was a concern – tank leaching eliminates the concern,” stated Meade, “With the new system we are getting leach times of less than 24 hours. With agitated tank leach and elimination of heap leach pads we reduce the Capex by about $75 million and get rid of a lot of tricky and costly procedures to operate it. It is also much cleaner environmentally and gives us additional process control.”

The New Process Plan consists of three-stage crushing, followed by rod mill grinding. The ores are then placed in an agitated tank with weak sulphuric acid. The leachate is pumped to electrowinning plant for recovery of cathode copper. The copper cathode can be sold directly to end-users for fabrication.

Residues from the cyanide circuit undergo destruction prior to deposition in a dry stacked waste facility. Dry stacked tails are a preferred means of storing waste as it eliminates the need for a tailings pond.

Copper North’s has engaged the Beijing General Research Institute Of Mining and Metallurgy, and they have begun design work for the agitated leach process as part of a Prefeasibility Study to be completed by the end of Q2, 2015.

Improvement of recoveries and advance revenues from precious metals and the opportunity to enter into metal streaming contracts, have radically improved the economics of the Carmacks project.

The proposed mining area consists of multiple zones spanning approximately 600 metres of the main structure. The mineral resources include 11.98 million tonnes of Measured and Indicated resources grading 1.07% copper, 0.456 g/t gold and 4.58 g/t silver.

“The 2014 exploration program confirmed the opportunity for significant expansion of both oxide and sulphide mineral resources. A larger program is being planned for 2015 with the goal to expand the oxide mineral resources in pursuit of extending the potential mine life.”

The Carmacks project is only 30 km off the Alaska Highway. There are power lines 9 kilometers from the property providing electricity at about 9.5 cents per kilowatt/hour – 30% of the cost of diesel generation.

Reduced transportation costs are another advantage for Copper North. The Carmacks project will generate 99.9% pure copper on site. It will not have to truck concentrate to a smelter. The company will be loading 400 pound copper plates onto the back of a flatbed truck.

Production is forecast is 30 million pounds of copper a year, 17,000 ounces of gold, and 165, 000 ounces of silver. The combined revenue from the metals at current spot prices is about $105 million per year.

Copper North is currently trading at $0.06 with a market cap of $6.9 million.


Copper North Mining Corp.
Dr. Harlan Meade
President and Chief Executive Officer
604 398 3451

Legal Disclaimer/Disclosure: This document is not and should not be construed as an offer to sell or the solicitation of an offer to purchase or subscribe for any investment. Financial Press makes no guarantee, representation or warranty and a fee has been paid for the production and distribution of this Report.


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