MissionIR Small-Cap Investor Blog

Friday, June 24, 2011

China GengSheng Minerals, Inc. (CHGS) Signs Agreement with US Company to Market and Distribute Products in North America

China GengSheng Minerals, Inc. recently announced that it has signed a five-year strategic partnership agreement with a U.S.-based strategic advisory, marketing and technology company for the marketing and distribution of its fracture proppant products in the North American market. China GengShen is a leading high-tech industrial materials manufacturer that specializes in producing heat resistant, energy efficient materials for a variety of industrial applications.

According to the agreement, the parties will collaborate on the development of the fracture proppant market in North America through the establishment of a jointly-owned brand that will be marketed to North American oil & gas producers. GengSheng will ship 4,000 metric tons of proppant products per month, beginning in July 2011, with volume increasing on a bi-monthly basis. Volume shipments are expected to reach at least 8,000 metric tons per month by October 2011.

“From our initial discussions with the partner, we were impressed not only with their capabilities, but also their deep knowledge of and strong connections within the North American fracture proppant market and oil & gas markets, and we believe they will be an ideal partner as we work to expand our presence internationally,” said Mr. Shunqing Zhang, Chairman and CEO of China GengSheng Minerals. “In addition to the significant revenue potential this partnership presents, it will provide us with our own brand specific to the North American market. The establishment of this brand will allow us to build awareness of GengSheng among international oil & gas customers, rather than remaining behind the scenes, as we had under our previous OEM sales model.”

Mr. Zhang added, “In order to better address the sizeable international growth opportunities in the proppant market, we have expanded our annual manufacturing capacity to 90,000 metric tons, and have begun construction on our second production facility, which will provide another 60,000 metric tons of capacity per year, beginning in the third quarter. Given our advanced technology, increased capacity and diversified marketing channels, we are confident in our ability to quickly capture meaningful share in the overseas fracture proppants market as it continues to mature.”

Under the agreement, GengSheng’s partner has the option to purchase quantities in excess of those stipulated in the contract, based on available capacity.

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CorMedix, Inc. (CRMD) Notes Latest FDA Correspondence regarding Neutrolin®

CorMedix, Inc., a pharmaceutical company focused on developing and commercializing therapeutic products to prevent and treat cardiorenal disease, yesterday detailed its latest correspondence from the U.S. Food and Drug Administration (FDA) regarding the company’s regulatory submission for Neutrolin®.

Neutrolin is the CorMedix’s candidate for the prevention of catheter-related bloodstream infections. The company recently filed a Request for Designation (RFD), which allows the FDA to determine the product type and assign the product to the appropriate lead center.

In its filing, CorMedix proposed for Neutrolin to be classified as a device and assigned to the Center For Devices and Radiological Health as lead reviewer. The company noted that the RFD filing is the company’s response to communication from the FDA following CorMedix’s Investigational Device Exemption (IDE) amendment submission.

If the FDA hasn’t responded with a designation letter within 60 calendar days of the filing of the RFD, CorMedix’s recommendation will stand as the designated classification and assignment.

CorMedix expects to launch its clinical study of Neutrolin in the second half of 2011, contingent on the pending device designation and IDE approval.

CorMedix also said it expects to complete the initial submission of the Neutrolin Design Dossier to the European notified body by the end of the second quarter 2011.

For more information visit www.cormedix.com

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Uranium Energy Corp. (UEC) Owes It All to Experience

In a relatively short time, Uranium Energy Corp. has managed to separate itself from virtually every other uranium exploration company in the country. While other emerging companies have struggled both financially and technologically to establish themselves in the industry, UEC has been able to successfully identify and mine the most promising sites in the U.S., acquire and bring online one of the county’s few fully licensed and permitted uranium processing plants, and even secure a multi-year uranium sales contract for 300,000 pounds of uranium.

The reason for the dramatic difference between UEC and everyone else is clearly the technical team behind the company. Together they represent a depth of uranium industry experience unmatched for a developing company.

• Harry Anthony (COO, Director) is internationally recognized for his knowledge of the uranium industry. A professional engineer for 36 years, Mr. Anthony has gained particular recognition for his pioneering work in the field of In Situ Recovery (ISR), a far more cost effective and environmentally sound method of uranium extraction now used around the world.

• Clyde Yancey (VP of Exploration) has been heavily involved with the uranium industry for 33 years, from his initial work with the Uranium and Thorium Resources Branch of the USGS, through his years of industrial work in exploration and ISR. Mr. Yancey brings a special expertise in the field of reclamation, and is a Registered Professional Geologist in Wyoming and Texas.

• Robert Underdown (VP of Production) has held a variety of senior operational positions at ISR uranium mines in Texas since 1978, with an extensive background in the design, management, and reclamation of ISR uranium mines. He has a thorough working knowledge of regulatory agencies, and has held responsibility for the management and safety of hundreds of mining personnel.

• Curtis Sealy (VP of Health, Safety, and the Environment) is a Registered Professional Engineer with 40 years of experience in mine construction and other large-scale engineering projects, and has industrial uranium mining experience with several companies. Most recently he served as VP of Environmental and Regulatory Affairs for Energy Metals Corp., acquired by Uranium One in 2007.

• Ed Brezinski (VP of Marketing & Sales) has over 25 years of experience with utility companies and uranium commodity brokers, with a focus on the marketing of uranium and related products. Prior to joining UEC, he served as Vice President of Nuclear Fuel Supply for NYSE-listed Energy Solutions Inc.

• Leonard Garcia (VP of Land) brings over 30 years of experience in mineral title research, lease negotiations, and acquisitions. He has worked with some of the biggest energy related companies in the country and is a Registered Professional Landman.

For information on the full UEC technical team, visit www.UraniumEnergy.com/about_us/technical_team

For other information on UEC, visit www.UraniumEnergy.com

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Uranium Energy Corp. (UEC) Technical Analysis for Friday, June 24, 2011

UEC is forming a higher low and appears to be mounting a climb off the bottom. The indicators have turned and are trending towards bullish positions which will have the eyes of technical traders as resistance at $3.25 is being broken down.

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Thursday, June 23, 2011

SEFE, Inc. (SEFE) Announces Addition of Harold Sciotto to Board of Directors

SEFE, Inc., developer of an innovative solution designed to capture energy from our atmosphere, this morning announced the appointment of Harold Sciotto to its Board of Directors.

SEFE’s mission is to generate energy by harnessing static electricity in the atmosphere and converting it into an endless power supply. The company noted Mr. Sciotto’s experience in the alternative energy industry as complementary to development initiatives and the implementation of its business strategy.

Mr. Sciotto served as Corporate Secretary and Treasurer of ECOtality, Inc. (ECTY) from December of 2004 until November of 2010, and as a Director of the company from December of 2004 until October of 2009. While serving ECOtality, Electric Transportation Engineering Corporation (eTec), a subsidiary, announced it has officially signed a contract with the U.S. Department of Energy for a grant of $99.8 million to commence the largest deployment of electric vehicles (EVs) and charging infrastructure in U.S. history.

From June 1964 until his retirement in May 1993, Mr. Sciotto served Sears Roebuck & Company in various sales and management positions. These positions encompassed store sales and department management positions, store merchandise manager, district business manager, and store manager. He was also a managing partner of Smart Safe Homes, LLC, and has served as an independent business consultant to various business ventures.

“SEFE is completely unique in its pursuit of generating clean, carbon-free energy,” commented Mr. Sciotto. “I am very excited to be a part of this revolutionary initiative and believe the experience I’ve accumulated over the course of my career will help accelerate the company’s momentum.”

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Uranium Energy Corp. (UEC) Strong Track Record a Clear Indicator of Future Success

For investors interested in UEC, with 2011 only half way through, it’s useful to look back on some of the hard-won accomplishments of the previous year, gaining some perspective on what the company can do and which way it’s headed. Those accomplishments were summarized in the annual year-end letter to shareholders presented in December of 2010 by UEC’s President and CEO, Amir Adnani.

The major achievements of 2010 for UEC were in the areas of initial production, exploration, and financing.

• Initial Production – In November of 2010, UEC initiated uranium ISR (in-situ recovery) at their Palangana Project in south Texas, with the first uranium loaded resins being delivered to the company’s Hobson processing plant in Texas. The Hobson plant represents one of the few fully licensed and permitted uranium processing plants in the country, and soon began turning out the final product, marketable U308.

• Exploration and Development – By the end of the year, UEC was actively drilling at both the Palangana and the Salvo projects in south Texas, and had technical reports estimating resources in all categories at Palangana of 2.2 million pounds, and at Salvo of 1.5 million pounds. In addition, exploration and development work was continuing at other sites, including Goliad in Texas, where the company received its Mine Permit and Production Area Authorization and had technical reports estimating resources of 6.9 million pounds.

• Financing – In 2010, UEC received nearly $40 million, through $27.5 million in equity financing and the sale of a non-core asset for $11 million, giving the company an unusually strong financial position to continue investments in production and exploration.

2010 also saw increased analyst and media coverage for UEC, with analysts raising their price targets as goals were met. Forbes magazine published a feature article on the company in April of 2010 and CEO Adnani was interviewed by CNBC, The Wall Street Journal, Bloomberg, and Reuters. UEC was also added to the S&P/TSX Global Mining Index, an index of the world’s leading mining companies and, on November 19, 2010, the company had the honor of ringing the NYSE Closing Bell, marking the UEC’s transition from explorer to producer.

By the end of 2010, UEC was debt free, with $35 million in cash, one of the country’s strongest technical teams, and various uranium mining and processing operations in Texas under development or production, with a number of other promising sites around the country under consideration. Most importantly, the company had established itself as North America’s newest uranium producer.

The goal for 2011: Expanding production and generating cash flow.

For more information on UEC, visit www.UraniumEnergy.com

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Uranium Energy Corp. (UEC) Anticipates Construction for Goliad Project in July 2011

Uranium Energy Corp. is an industry leader in the production, development and exploration of uranium ore. The company is focused on developing uranium sites, and currently has a prominent project underway in Texas. Located in north-central Goliad County, Texas, the Goliad Project consists of 13 ISR uranium mining leases that cover 1,421 net acres of contiguous properties.

The project is located in the Interior Coastal Plains portion of the Gulf Coastal Plains physiographic province. Experts characterize the geology by tertiary age sedimentary units that dip and thicken toward the Gulf of Mexico. Uranium mineralization is commonly seen in tertiary age formations and is often found within sand/sandstone types of deposits. According to UEC’s website, the permeable sands have also shown strong reductants, which have created widespread or localized areas of reducing conditions in the groundwater. These have caused dissolved uranium migrating in oxidizing groundwater to precipitate and concentrate.

Between 2006 and 2007, UEC drilled over 599 confirmation and delineation holes to a 43-101 compliant resource of 6.9 million pounds U3O8. Of that number, 5.4 million pounds is measured and indicated and 1.5 million pounds is inferred. Across the properties, UEC has measured mineralization to be in four sand horizons from depths of 90 feet to 450 feet. The average thickness across these sand horizons is 14.5 feet, and they have an average grade of 0.075%. An independent party reviewed the Project’s metallurgical testing, and found recoveries of 86% to 89%.

Previously, Coastal Uranium held the leases to these properties as the original holder. From 1979-1980, the company conducted a reconnaissance exploration project over a very large area that included the current Uranium Energy Corp. leases. Moore Energy Corp. acquired the leases from Coastal Uranium and drilled 479 holes during 1983 and 1984. After completing exploration drilling in 1984, Moore Energy estimated uranium reserves of approximately 3,366,000 tons at an average grade of about 0.05% eU3O8 and an average disequilibrium factor of 1.494. This equates to approximately 5.2 million pounds of eU3O8 – an estimate historical in nature.

The latest Technical Report, filed on March 4th 2008, provides for a measured and indicated resource estimate for the company’s Goliad Project of 5,475,200 pounds at an average grade of 0.05% eU3O8, up from the previously reported and historical resource of 5.2 million pounds eU3O8 which was set forth in the Company’s previously filed Goliad Project NI 43-101 technical report. An additional 1,547,500 pounds of eU3O8 at an average grade of 0.05% is classified as an inferred mineral resource in the Technical Report. The estimate is based on the results from 1,086 drill holes at the Goliad Project, 599 by Uranium Energy Corp, 487 by other parties.

According to data provided by UEC, Commissioners of the Texas Commission on Environmental Quality (TCEQ) have approved the Mine Permit, the Production Area Authorization for Production Area One (PA-1), and have granted the request for designation of an Exempt Aquifer. The Goliad Project has only one pending Texas authorization remaining, which is a Radioactive Material License. It is currently at an advanced technical review stage with TCEQ.

Uranium Energy Corp. expects that the Goliad Project will become its second uranium-producing asset in Texas. When the company receives the Radioactive Material License for the project, UEC will commence construction at the project site. UEC anticipates that the remaining license will be approved this month.

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