News Article | February 16, 2017
SAN DIEGO--(BUSINESS WIRE)--California and Hawaii American Water have named Richard Svindland their new president, effective March 1, 2017. Svindland replaces Robert MacLean, who has served as president of California American Water since 2009. MacLean will now become senior vice president of American Water’s Eastern Division, which is comprised of New Jersey, New York, Virginia and Maryland. MacLean also will serve as president of New Jersey American Water. “We are so pleased to promote both Rob and Rich. It is well-deserved,” said Walter Lynch, chief operating officer at American Water. “I know Rich will take over where Rob left off, ensuring our customers in California and Hawaii receive the best service possible, while continuing to focus on the successful completion of the Monterey Peninsula water supply project. His deep utility experience makes him well-suited for this new role.” Svindland has more than 25 years of experience in the water and wastewater fields, most recently serving as California American Water’s vice president of operations. Prior to that role, he led Engineering at California American Water, where he managed all of the company's capital projects to ensure timely and cost-efficient delivery. He also developed capital planning strategies and provided an operational review of existing infrastructure to ensure California American Water’s systems met both the current and future water needs. Prior to his roles in California, Svindland worked extensively in American Water's southeast region on various projects and was named 2003 Civil Engineer of the Year in Industry by the Kentucky section of the American Society of Civil Engineers. He earned a bachelor's degree in civil engineering from the Georgia Institute of Technology and a master's degree in civil engineering from the University of Kentucky. California American Water, a subsidiary of American Water (NYSE: AWK), provides high-quality and reliable water and/or wastewater services to more than 660,000 people. Hawaii American Water provides quality wastewater services to approximately 28,000 people. With a history dating back to 1886, American Water is the largest and most geographically diverse U.S. publicly traded water and wastewater utility company. The company employs more than 6,700 dedicated professionals who provide regulated and market-based drinking water, wastewater and other related services to an estimated 15 million people in 47 states and Ontario, Canada. More information can be found by visiting www.amwater.com.
News Article | February 15, 2017
FORT WORTH, Texas--(BUSINESS WIRE)--Peloton Land Solutions, Inc. (Peloton), has moved their corporate headquarters and Fort Worth office to Alliance Town Center, Hillwood Commons I, a Class A office complex, to manage continued company growth. The company leased more than 11,000 square feet to house approximately 60 employees and employs more than 100 team members at its three Texas locations. “Our goal was to begin 2017 in our new office space, so we’re pleased to have the move behind us and start the new year at Hillwood Commons I,” said Peloton President and CEO Aric Head. “We are also pleased to announce numerous promotions across our Texas offices for many of our hard working, well-deserving team members.” Fort Worth: Principal – Business Development Manager Travis Clegg, P.E.; Associate Principal - ISA Certified Arborist/Environmental Manager Chris Hamilton, CWB® Associates – Civil Engineer Kyle Kattner; Project Manager Logan McWhorter; Project Manager Denny Peters; Project Manager Nick Powell; Civil Engineer Matt Schneider; Civil Engineer Casey Stevenson and Civil Engineer Kole Weber; Austin: Associates - Operations Manager/Senior Project Manager Stephanie Stanford, P.E. and Project Manager Jeff Scott; Frisco: Associates - Project Manager Chuck Lamping, P.E.; and Senior Project Manager Nathan Thompson, P.E. Currently one of the fastest growing consulting firms in Texas, Peloton Land Solutions, Inc. was founded in Fort Worth in 2010 and has grown to more than 100 professional engineers, planners, surveyors, scientists, landscape architects and support personnel. With offices in Fort Worth, Austin and Frisco, Peloton provides comprehensive land development services for residential, commercial, industrial, municipal and energy sector clients. Their land development and energy services expertise includes: planning, civil engineering, surveying, landscape architecture and environmental science. An active supporter of the communities in which they operate, Peloton was named Emerging Small Business of the Year by the Fort Worth Chamber of Commerce in 2013 and was selected as the engineering firm of record for Facebook’s new billion-dollar Data Center in North Fort Worth, among other noteworthy projects. Peloton is a registered engineering firm in the state of Texas and is also registered as a Texas Board of Professional Land Surveying Firm. More information can be found on their website at www.pelotonland.com. TBPLS FIRM NO. 10177700 (FORT WORTH) TBPLS FIRM NO. 10193958 (FRISCO) TBPLS FIRM NO. 10194108 (AUSTIN) TBPE FIRM NO. 12207
News Article | December 5, 2016
Gables Residential has executed new leases for its proposed Las Colinas development, Gables Water Street, located in the Las Colinas Urban Center at O’Connor Boulevard across from Williams Square. Recent lease activity includes regional favorites such as: Olivella’s Neo Pizza Napoletana, Twisted Root Burger Co., Castle Nails Spa, GQ Tailor, Barcelona Taco Bar, Main Street Bistro & Bakery, The Londoner Pub, Planet Sub, Grabbagreen, Go Fish Poke and Café Herrera. Gables Water Street, a mixed-use community, will showcase over 60,000 square feet of retail shops and restaurants in the first phase. Restaurants and retailers are scheduled for a holiday 2017 or early 2018 Grand Opening. With the variety of dining and shopping, Las Colinas will promote an environment conducive to pedestrians, outdoor patios, and an overall sense of place. The proposed community includes a park for special events, such as a farmers market or festival, and pathways for the public to enjoy access and views of Lake Carolyn. Darin Botelho, Vice President of Retail with Gables Urban, the retail division of Gables Residential stated, “The merchandising plan has focused on regional best-in-class retailers and restaurants that will draw people from the greater Dallas area to one of the only waterfront dining experiences in the metroplex.” As the developer, Gables Residential is working with WDG Architecture, the architect of record. Studio Outside will be the landscape architect in conjunction with Kimley-Horn as the Civil Engineer and Jordan-Skala handling MEP. SJL Interiors was awarded the interior design. "Gables Water Street will become the go-to destination for our residents, the local community and visitors. Not only will we showcase top restaurants and retailers, but we also plan to offer leisure services and water activities to truly maximize the waterfront appeal,” commented Katy Slade, Development Director for Gables Residential. "Our residents want to live in great places that offer conveniences while maximizing a unique city living experience. Water Street will make this happen." About Gables Residential Gables Residential is an award-winning, vertically integrated, real estate company and privately held REIT specializing in the development, construction, ownership, acquisition, financing and management of multifamily and mixed-use communities. Gables Residential owns, develops and manages communities in high-growth U.S. markets such as Atlanta, Austin, Boston, Dallas, Denver, Houston, South Florida, Southern California and metropolitan Washington, D.C. Gables also provides third party management services in the New York, Baltimore, Frederick, Tampa, Phoenix, Seattle, Charlotte, Central and North Florida markets. Gables manages over 31,000 apartment homes and approximately 550,000 square feet of retail space and has received national recognition for excellence in development, construction, management, sales, marketing, learning and development, benefits and corporate accommodations. These achievements reflect the impact of our experienced and dedicated team members, our superior knowledge of the markets served, and our expertise in development and management.
News Article | December 7, 2016
Four Winds South Bend will include 1,800 Class II gaming devices, four restaurants, a player's lounge, a coffee shop, two bars, and a retail outlet SOUTH BEND, IN--(Marketwired - Dec 7, 2016) - The Pokagon Band of Potawatomi Indians is pleased to announce that it has started construction on a new casino located on its Trust Land in South Bend. The casino will be called Four Winds South Bend, sharing the Four Winds brand with other Pokagon casino locations including New Buffalo, Hartford and Dowagiac, Mich. The first phase of Four Winds South Bend will have 175,000 square feet and include 1,800 Class II gaming devices, four restaurants, a player's lounge, a coffee shop, three bars, a retail outlet, and approximately 4,500 parking spaces including an enclosed parking structure. The casino is scheduled to be complete in early of 2018 and will employ approximately 1,200 people. Approximately 700 jobs will be created during construction. "We are very excited to begin construction on Four Wind South Bend. Once operating, it will generate revenue to fund services and programs that will create additional economic opportunities for Pokagon Citizens, the city of South Bend, and also fund community projects, local organizations and schools," said John P. Warren, Chairman of the Pokagon Band of Potawatomi Indians. "On behalf of the National Indian Gaming Association (NIGA), I would like to congratulate the Pokagon Band on its historic 166 acre Tribal Homeland Restoration," said Ernie Stevens Jr., Chairman of NIGA. "This 22-year journey has been a long one for Pokagon Citizens. We are happy to see the United States fulfilling its promises from Treaties made long ago. It is only fair and just for the sacrifices our Elders made on our behalf." "When Four Winds New Buffalo opened nine years ago, it set a new standard for gaming in the Midwest. It has since received more than 300 local and national awards," said Frank Freedman, Chief Operating Officer of Four Winds Casinos. "Four Winds South Bend will offer the same high-level of service and amenities that our guests have come to expect including signature restaurants such as Copper Rock Steakhouse and The Buffet. We look forward to providing more details on the property as well as information about job fairs and vendor fairs as we progress through construction." Partners supporting the Pokagon Band and Four Winds Casinos in the construction of Four Winds South Bend include: Architect, HBG Design, Memphis, Tenn.; Civil Engineer, Wightman and Associates, Benton Harbor, Mich.; Construction Management Company, F.A. Wilhelm, Indianapolis, Ind.; and Owners Representative, Kramer Management Group, Lansing Mich.. About The Pokagon Band of Potawatomi Indians The Pokagon Band of Potawatomi Indians' sovereignty was reaffirmed under legislation signed into law by President Clinton in September of 1994. The Pokagon Band is dedicated to providing community development initiatives such as housing, education, family services, medical care and cultural preservation for its approximately 5,000 citizens. The Pokagon Band's ten-county service area includes four counties in Southwestern Michigan and six in Northern Indiana. Its main administrative offices are located in Dowagiac, Mich., with a satellite office in South Bend, Ind. In 2007, it opened Four Winds Casino Resort in New Buffalo, Mich., followed by Four Winds Hartford® in 2011 and Four Winds Dowagiac® in 2013. More information is available at www.pokagonband-nsn.gov. About Four Winds Casinos Four Winds® New Buffalo, located at 11111 Wilson Road in New Buffalo, Mich., Four Winds Hartford®, located at 68600 Red Arrow Highway in Hartford, Mich., and Four Winds Dowagiac®, located at 58700 M-51 South in Dowagiac, Mich., are owned by the Pokagon Band of Potawatomi Indians. Four Winds New Buffalo offers 130,000 square feet of gaming with more than 3,000 slot machines, 60 table games, five restaurants, entertainment bars, retail venues, a pool, and a 415-room hotel, making it the premier gaming resort in the Midwest. Four Winds Hartford features more than 550 slot machines, nine table games, a 74-seat restaurant, and a 15-seat bar. Four Winds Dowagiac features 400 slot machines, seven table games and one restaurant. Please play responsibly. You must be 21 years of age to gamble. For more information on Four Winds Casinos, please call 1-(866)-4WINDS1 (866-494-6371) or visit www.fourwindscasino.com. Additionally, be sure to like Four Winds Casinos on Facebook at www.facebook.com/fourwindscasino and follow on Twitter at www.twitter.com/fourwindscasino.
News Article | February 27, 2017
RYE, N.Y.--(BUSINESS WIRE)--Gabelli & Company is pleased to announce that Mark W. Woodson, P.E., L.S., D.WRE, F.ASCE, the 2016 American Society of Civil Engineers President, will deliver a keynote address on America’s critical infrastructure spending needs at its 27th Annual Pump, Valve & Water Systems Symposium on March 1 in New York City. The American Society of Civil Engineers (ASCE) represents more than 150,000 members of the civil engineering profession in 177 countries. Founded in 1852, ASCE is the nation’s oldest engineering society. ASCE stands at the forefront of a profession that plans, designs, constructs, and operates society’s economic and social engine – the built environment – while protecting and restoring the natural environment. Mr. Woodson’s keynote will cover the facts behind the Report Card for America’s Infrastructure (infrastructurereportcard.org). The Report Card gave a GPA of “D+” to the nation’s infrastructure in 2013. The next Report Card will be released on March 9, 2017. Mr. Woodson will address the economic case for America’s infrastructure and the solutions that can close our infrastructure competitiveness gap compared to other nations. Mr. Woodson received his Bachelor of Science in Civil Engineering in 1979 and an MBA in 1985 from the University of Arizona in Tucson. Mark is a licensed civil engineer and surveyor in California and Arizona. In 1994, Mr. Woodson received the Arizona Civil Engineer Distinguished Service award from the Arizona Section of ASCE. In 2002, he was awarded the John C. Park Outstanding Engineering award by the Arizona Section of ASCE. In 2002, he was elected as a Fellow in the American Society of Civil Engineers. In 2013 he became a Diplomate of Water Resources Engineering. In 2014, Mr. Woodson was elected to become the 2016 ASCE President. Institutional investors should contact their Gabelli & Company sales representative to register.
News Article | November 2, 2016
The Associated Builders and Contractors, a premier construction association representing the merit shop construction industry, awarded the City of Aurora’s Public Safety Training Center (CAPSTC) project the 2016 regional Excellence in Construction award for an institutional building between $10 and $25 million. The 23-acre campus consisted of seven different projects to be designed, built and integrated together in a short timeframe. A 1920’s themed gala of industry personnel recognized outstanding construction projects in various categories completed this last year in the Rocky Mountain Region. CAPSTC’s first place honor was given by judges based on factors such as safety, implementing innovations, and overcoming challenges. During the submittal review process, ABC’s evaluation committee noted the perfect safety record of the project, an extraordinary accomplishment of having no safety incidents on the large and complex project. The design-build team with Adolfson & Peterson Construction (AP) consisted of Design-build Architect Studiotrope, Civil Engineer Bowman Vision Land and Burn Building Specialist ELA Engineers, along with BCD Architect Barker Rinker Seacat Architecture, BCD Planning Architect RDG Planning & Design and Civil Engineer Martin/Martin. Beyond the expected complexities of this project, the design-build team faced extraordinary measures, such as removing inert bombs from the site, experiencing a main access site closure due to an over-booked air show and keeping all personnel safe when a tornado touched down. The completed joint-training campus now serves Aurora’s police and fire departments to be more effective as a team when responding to emergency scenes, such as the 2012 Aurora theater shootings. “Throughout the project the design team worked with the City and its Consultants to design and build a state-of-the-art, functional facility. Teamwork with the leadership of AP resulted in a highly functional safety training campus that will help meet the needs of our community for years to come,” stated James Brown, P.E., Project Construction Manager for City of Aurora. About AP Adolfson & Peterson Construction is a U.S.-based, privately held firm that is consistently ranked among the top 50 construction managers and general contractors in the nation. Founded in 1946, the company has built longstanding commitments to the regions in which it operates and is known nationally for its innovative and collaborative approaches within the building industry. Adolfson & Peterson Construction serves the education, multifamily, healthcare, commercial, municipal and senior living market segments from its offices in Charlotte, Dallas, Denver, Minneapolis and Phoenix. For more information, visit http://www.a-p.com and follow us on Facebook, LinkedIn and Twitter. ###
News Article | November 11, 2016
ST. PETER PORT, GUERNSEY--(Marketwired - Nov. 11, 2016) - Avnel Gold Mining Limited ("Avnel" or the "Company") (TSX:AVK) is reporting that it has filed its unaudited Condensed Interim Consolidated Financial Statements and the related Management Discussion & Analysis ("MD&A") for the three-month and nine month periods ended September 30, 2016 on SEDAR. A positive feasibility study for the Kalana Main Project (the "Feasibility Study") has been completed and the related Environmental and Social Impact Assessment ("ESIA") and associated Environmental and Social Management Plan ("ESMP") have been approved by the Malian authorities. The approval of the ESIA was the key government approval required to advance the Kalana Main Project towards construction as the Kalana Exploitation Permit was awarded to Avnel in 2003 with an initial term of 30 years plus two ten year extentions. The only significant government approval required to develop new mines on the permit is an ESIA and the associated ESMP. The ESIA has been prepared to conform to the requirements of the International Finance Corporation's Performance Standards, the World Bank Group's Environmental, Health, and Safety guidelines, and other financial institutions that are signatories to the Equator Principles. The Company continues to advance the Kalana Main Project towards a construction decision through its 80% ownership in Société d'Exploitation des Mines d'Or de Kalana, S.A. ("SOMIKA"). Discussions are progressing with banks and other financial institutions to provide financing for the development of the Kalana Main Project. Cost optimisation analysis continued in the period on the construction costs of the Kalana Main Project. The Company anticipates that the Kalana Main Project will be sufficiently advanced to consider a construction decision in 2017, subject to the availability of adequate financing on a timely basis. With respect to operations at the small, Soviet-era, underground Kalana Mine, gold production in the nine months to September 30, 2016 was 7,181 ounces. The Company forecasts gold production of 9,000 ounces for the full year of 2016. The Company continues to sustain operations to partially offset the cost of providing underground access to facilitate due diligence activities necessary to secure mine development financing. The continued operation of the mine also helps to maintain socio-economic stability in the local community in compliance with World Bank Equatorial principles and Malian laws. The continued operation of the underground mine also helps to maintain socio-economic stability in the local community as the workforce prepares to transition to activities related to the construction and operation of the proposed Kalana Main Mine. The Company intends to sustain operations for as long as economically feasible and safe to do so, without incurring any significant capital expenditures, until such a time as the Company is able to evaluate development options for the Kalana Main Project. In preparation for the approval to commence construction of the Kalana Main Project, a number of activities have progressed during the third quarter 2016. Although the lateral near-surface extents of the Kalana Main deposit seem to have been fairly well defined, the company believes that the deposit could be improved in grade and quality in the deepest part of both the reserve and resource pits. Indeed the drop in ore grade (from 3.1 to 2.5g/t Au) and the strong increasing of the strip ratio observed in the DFS stage 12 (reserve pit) as well as in the deep resource (not yet included into reserve), are both interpreted as being the result of 1) the less dense drilling pattern at depth; 2) the decreasing of the average DDH core diameter and subsequent sample size and 3) the lack of large RCH sample alternating with cored samples. These 3 factors cannot be entirely managed from surface and an in-pit infill exploration drilling campaign has been designed. There is also significant regional exploration potential. Avnel's exploration team has dedicated significant resources to the evaluation of regional exploration prospects outside of the Kalana Main area. This initial work is based upon historical data carried out by others, regional work conducted by Avnel and the IAMGOLD Corporation, and the Company's field surveys of active and historical orpaillage. This work, which is still ongoing, is used to prioritise targets for future exploration. An advanced geochemical survey, started in October 2016, has been designed to improve the knowledge on 3 to 5 high priority prospects, which are at the grassroots level in our exploration pipeline. A high-priority exploration project for the Company is the Kalanako deposit. The deep weathering profile at Kalanako displays a potential free digging high-grade ore satellite located less than 3 km northeast of the Kalana Main Project proposed mill site. The Kalanako deposit currently has an Inferred in-situ resource of 0.38 Mt grading 5.55 g/t Au, containing 0.07 Moz of gold. The March 2015 Kalanako Mineral Resource Statement was completed by Denny Jones Pty Ltd, at a cut-off grade of 0.9 g/t Au based upon information from 46 diamond drill holes (9,661m) and 232 RC drill holes (24,952m); no local estimates for internal or external dilution. The current Kalanako maiden mineral resource is based on a wide drill spacing (75m x 25m). Several mineralized trends have been established from RC and diamond drilling at Kalanako, resulting in a single northwest-southeast corridor of 1,500 meters by 250 meters. These mineralized zones are less than 10 meters thick and appear to be steeply dipping, often contain high-grade intercepts near surface. New drilling is expected to start mid-November 2016. This RC infill drilling campaign of 7,000m to 9,000m has been designed to improve grade continuity infilling the in-pit resource to upgrade resource classification and, using historical data as a guide, to increase the total amount of resources drilling the mineralised zones between these resource pits. The infill drilling programme will be focused on saprolite and saprock weathered domains, a depth considerably deeper than observed at Kalana Main (drillhole depth of 75-175 meters). Please refer to the press release dated October 17, 2016 for further details. Total revenue increased to $8,925,000 in the nine months to September 30, 2016, from $8,746,000 in the nine months to September 30, 2015. The increase in revenue is a result of a 6% increase in the realised average sales price of gold from $1,183 per ounce in the nine months to September 30, 2015, to $1,258 per ounce in the nine months to September 30, 2016. The increase in revenue was partly offset by a 4% decrease ounces sold from 7,376 ounces in the nine months to September 30, 2015 to 7,079 ounces in the nine months to September 30, 2016. Total expenses reduced slightly from $12,034,000 in the nine months to September 30, 2015 to $11,949,000 in the nine months to September 30, 2015. Exploration costs expensed was $392,000 in the nine months to September 2016, compared to nil in the nine months to September 2015. Operating costs per ounce of gold sold for the nine months to September 30, 2016 reduced from $1,092 per ounce to $1,053 per ounce, which is attributable to lower operating costs in the current period relative to the comparative period. Avnel recorded a net loss of $720,000 ($0.002 attributable profit per share to parent) for the nine months ended September 30, 2016, compared to a net loss of $1,581,000 ($0.001 attributable loss per share to parent) in the nine months to September 30, 2015. Included in the nine months to September 30, 2016 is a profit on the fair value of derivative financial instruments of $2,428,000, compared to a profit of $1,897,000 in the nine months of 2015, arising from a change in the fair value of warrants outstanding and exercised. The fair value accounting gains and losses reported have no cash effect on the Company. As compared to the interim consolidated statement of financial position as at December 31, 2015, Avnel's cash and cash equivalents as at September 30, 2016 decreased by $2,798,000, from $7,211,000 to $4,413,000. The decrease was the result of cash provided in operations of $2,621,000 and cash used in investing activities of $1,056,000, that was partly offset by the exercise of warrants and options $873,000. The Company had working capital of $6,861,000 as at September 30, 2016, compared to working capital of $8,803,000 as at December 31, 2015. Total assets decreased from $27,958,000 as at December 31, 2015 to $25,710,000 at September 30, 2016. Total non-current liabilities reduced from $8,062,000 as at December 31, 2015 to $3,495,000 at September 30, 2016, mainly due to value of the outstanding warrants moving from a non-current liability to a current liability. The fair value of these derivative financial instruments has no cash effect on the Company. Total stockholders' equity increased to $34,798,000 as at September 30, 2016 from $32,738,000 as at December 31, 2015. Avnel Gold is a TSX-listed gold mining, exploration and development company with operations in south-western Mali in West Africa. The Company's strategic objective is to develop the Kalana Main Project into an open-pit mining operation through its 80% ownership in SOMIKA. A secondary objective of the Company is to explore the remainder of the 387 km2 Kalana Exploitation Permit to discover new mineral deposits. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained in this news release. This news release includes certain "forward-looking statements". All statements, other than statements of historical fact, included in this release, including the future plans and objectives of Avnel Gold, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that forward-looking statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Avnel Gold's expectations include, among others, risks related to international operations, the actual results of current exploration activities, conclusions of economic evaluations and changes in project parameters as plans continue to be refined as well as future prices of gold and silver, as well as those factors discussed in the section entitled "Risk Factors" in Avnel Gold's most recently completed Annual Information Form, which is available on SEDAR (www.sedar.com). Although Avnel Gold has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Except where indicated, the disclosure contained or incorporated into this news release of an economic, scientific or technical nature, has been summarised or extracted from the National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101") compliant technical report titled "NI43-101 Technical Report on Kalana Main Project", dated effective 1 April 2016 (the "Kalana Technical Report"), prepared by Snowden Mining Industry Consultants (Pty) Ltd. ("Snowden"), Denny Jones Ltd ("Denny Jones"), DRA Projects SA (Pty) Ltd ("DRA") and Epoch Resources (Pty) Ltd ("Epoch Resources"). The Kalana Technical Report was prepared under the supervision of Mr. Allan Earl (Executive Consultant - Mining Engineering of Snowden), Mr. Ivor Jones (Executive Consultant - Applied Geosciences of Denny Jones), Mr. Glenn Bezuidenhout (Principal Process Engineer of DRA), Mr. Sybrand van der Spuy (Civil Engineer of DRA), Mr. Guy Wiid (Principal Consultant - Tailings and Waste Rock Facilities of Epoch Resources), and Mr. Stephanus (Fanie) Coetzee (Principal Consultant - Environmental and Social of Epoch Resources), all of whom are independent "Qualified Persons" as such term is defined in NI 43-101. Readers should consult the Kalana Technical Report to obtain further particulars regarding the Kalana Project, which contains the Kalana Main Project, the Kalana Mine, plus a number of mineral exploration prospects. The Company filed the Kalana Technical Report in support of the Feasibility Study and the ESIA on SEDAR on May 6, 2016. Avnel's condensed interim consolidated financial statements have been prepared in accordance with IFRS as issued by the International Accounting Standards Board ("IASB") and the accounting policies adopted in accordance with IFRS. Management uses both IFRS and non-IFRS measures to monitor and assess the operating performance of the Company's operations. Management uses certain non-IFRS performance measures to provide additional information, as the Company believes that certain investors use these measures to assess gold mining companies. These non-IFRS performance measures should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. Non-IFRS performance measures do not have standardised definition under IFRS and therefore may not be comparable to similar measures presented by other organizations: "Cost per Tonne Milled" is calculated by dividing the relevant mining and processing costs and total costs by the tonnes of ore processed in the period. Management uses this measure as a possible indication of the mining and processing efficiency of the mine. "Cash Operating Cost" is calculated as reported production costs, which includes costs such as mining, processing, administration, non-site costs (transport and refining of metals, and community and environmental), less royalties paid. These costs are then divided by the number of ounces produced to arrive at "Cash Operating Cost per Ounce Produced" and are divided by the number of ounces sold to arrive at "Cash Operating Cost per Ounce Sold", after taking into account certain inventory movements. These terms are commonly used by gold mining companies to assess the level of gross margin available to the company, typically by subtracting Cash Operating per Ounce Sold from the average per ounce price realised during the period. These terms are also often used as an indication of a mining company's ability to generate cash flow from operations. "On-site All-in Sustaining Cost" is defined in the PEA by Snowden as mine site cash operating costs, which includes costs such as mining, processing, administration, but excludes non-site costs (transport and refining of metals and royalties), plus sustaining capital costs, which includes community, environmental, and closure costs. These costs are then divided by the number of ounces of expected production to arrive at "On-site All-in Sustaining Cost per Ounce".
News Article | February 15, 2017
SAINT PETER PORT, GUERNSEY--(Marketwired - Feb. 13, 2017) - Avnel Gold Mining Limited ("Avnel" or the "Company") (TSX:AVK) is pleased to report the first results of the 2016 Kalanako drilling programme with the receipt of the first batch of assays. The drill programme objective is to provide additional information in support of an updated Mineral Resource Estimate for its Kalanako prospect in south-western Mali, West Africa. Howard Miller, Avnel's Chairman and CEO stated, "I am pleased to report that we have received the first batches of assays from the 2016 drilling programme successfully concluded at the Kalanako deposit. The Kalanako current maiden mineral resource is based on a wide drill spacing (75m x 25m). The RC infill drilling campaign has been designed to improve the grade/tonnage continuity inside and outside the March 2015 resource pit shells. Inside the South-East Resource pits, the first results received are encouraging and should support the conversion of a meaningful portion of our Inferred Resource into the Measured and Indicated categories. Outside the existing resource pits, although not all of the extension drilling was fruitful, the first batch results show high grade mineralisation has been intercepted in the Central and Central-South zones. These results have been obtained in a portion of the previous block models that reported no economic resource," said Mr. Miller. The results reported in this news release reflect the first batch of assays from 21 holes over 2,173m, from a total programme of 82 holes over 8,635m. This first batch represents nearly one-quarter of the total drill programme (holes RC204 to RC225). Maps of the general layout of the drill programme, the location of individual drill holes and significant intersections is provided in figures 1 and 2 near the end of this news release. Drill holes for the entire historical drill programme, including IAMGOLD's 2010 to 2012 and Avnel's 2016 drill programmes, and geophysical gradient IP are respectively presented in figures 2 and 3. Select composite assays and related drill hole information from this first batch is presented in the tables at the end of this news release. The majority of the assays reported in this news release are from the South-East and Central-South zones of the deposit. Results reported in the existing MRE pit shells are encouraging and should support the conversion of a large part of the Inferred Resource into Measured or Indicated categories. High grade results reported outside the existing MRE pit shells provide a significant opportunity to improve known mineralisation into large portions of the bock model that were not classified as resources. Significant intervals (>25g/t.m) from the South-East zone (inside the 2015 resources pit shells): Significant intervals (>25g/t.m) from the South-East zone (outside the 2015 resources pit shells): A summary of select composite assays and drill hole information from the 2016 drilling campaign are presented in tables 1 and 2, respectively. Located less than 3 km northeast of the Kalana Main Project and the milling facilities proposed in the OFS-DFS, the Kalanako prospect is an old area of traditional mining activity (Figure 2). Several mineralised trends have been established from RC and diamond drilling at Kalanako, resulting in a single northwest-southeast corridor of 1,500 meters by 250 meters. These mineralised zones are typically less than 10-20 meters wide and appear to be steeply dipping to the East, often contain high-grade intercepts near surface (i.e. in the weathered zone). The depth of saprolite and saprock is between 70 m and 130 m, much deeper than that observed at the Kalana deposit. Diamond drilling at Kalanako intersected numerous high strain zones, packets of densely laminated quartz veins or vein stockwork with sulphides and locally highly altered and mineralised felsic intrusive rocks. Mineralisation is associated with these felsic intrusive rocks or quartz stockwork that occur along northwest-southeast striking shear zones, parallel or less than 10° in azimuth from the main IP boundary between a low and a high IP gradient domain (Figure 3). The March 2015 MRE for the Kalanako deposit was based upon information from 46 diamond drill holes and 232 RC drillholes. Historical drill-hole intersection were independently summarised and press-released in October 2016. The Kalanako Mineral Resource Statement completed by Denny Jones (Pty) Limited, has been reported above a cut-off grade of 0.9 g/t Au, and is summarised as follow: An infill drilling programme of 8,635 meters has been successfully achieved in December 2016, on time and on budget and with an excellent productivity and safety record (no Lost Time Injury). This programme was focused on Kalanako's saprolite and saprock weathered domains, a depth considerably deeper than observed at Kalana Main (drillhole depth of 50-175 meters). Targets of the Kalanako drilling campaign: A large part of the Kalanako prospect remains undrilled. The drilled portion of Kalanako located at the central part of a 5 km long geophysical structure (figure 3) defined as a contact between low and high IP gradient domains. Kalanako is open on strike. Some large collapses above old artisanal underground developments in the north and more modern artisanal pits in the south, highlights the continuity of the mineralisation along the main northwest-southeast structure. Future drilling campaigns would target extensions along strike following our low-risk infill programme. In addition to the resource defined at Kalana, we see significant potential to add satellite deposits on our existing permit. A potential opportunity exists that would allow us to increase the production profile outlined in the DFS-OFS. The mill proposed in our DFS-OFS can process 25% more saprolite ore than fresh rock due to the relative ease of processing saprolite through the crushing and grinding circuit. In keeping with our corporate strategy, as we progress into construction we plan on continuing to add to the quantity and quality our mineral inventory through exploration work focusing on the soft saprolite high grade ore with the aim to increase planned gold production and reduce our total cash cost per ounce using satellite targets to supplement Kalana. The high-grade and close proximity makes Kalanako our highest priority advanced stage exploration target. It has the potential to become a high-grade open-pit satellite deposit delivering additional ore to the operation proposed in the DFS-OFS. As a supplemental deposit to Kalana Main, Kalanako could help extend the mine life or increase average gold production. As Avnel commences construction on Kalana Main we will be accelerating our regional geology programme to progress our portfolio of exploration targets. To date, only 3 of our 30 targets have been partially drill tested. Exploration work is being conducted to evaluate and rank our premier targets. Exploration programmes are conducted under the supervision of Dr. Olivier Féménias, EurGeol 1115, Avnel's Vice-President, Geology. Dr. Féménias, is a Qualified Person as defined by National Instrument 43-101 of the Canadian Securities Administrators. Strict sampling and QA/QC protocol are followed, including the insertion of standards, blanks, and duplicates on a regular basis as well as laboratory visit by senior geologists. Sample intervals are usually 1.0 m. Samples are prepared on site and collected by BIGS Global Burkina SARL ("BIGS Global") and transported to Ouagadougou in Burkina Faso for analysis. Analytical method is a 2-kilogram bottle-roll cyanidation using a LeachWELL catalyst. The leach residues from all samples with a grade in excess of 0.1 g/t Au were prepared by BIGS Global and split to 50 grams and then analysed by standard Fire Assay. Composites presented in the assay results tables include intervals with a grade x thickness equal or greater than 5 grams of gold per tonne x metre ("g/t.m") with a minimum grade of 0.65 g/t Au over a 1 m minimum width with a maximum internal dilution of 3 m. No assays results were capped. Due to the exploratory nature of this programme the true width of the mineralisation has not been reported. The intersections presented herein may not represent the true width of mineralisation. Avnel Gold is a TSX-listed gold mining, exploration and development company with operations in south-western Mali in West Africa. The Company's focus is to develop its 80%-owned Kalana Main Project from a small underground mine into a low-cost, open pit mining operation. The Company is also advancing exploration on several nearby satellite deposits on the 387 km2 30-year Kalana Exploitation Permit. On January 9, 2017, the Company reported the results of an Optimized Feasibility Study ("OFS") prepared by Snowden Mining Industry Consultants. The OFS outlines an 18-year open-pit mine life at the Kalana Main Project recovering 1.82 million ounces of gold at an average "all-in sustaining cost" of $561 per ounce over the first five years of steady state production and $730 per ounce over the life of mine with an initial capital cost of $171 million. Utilising a gold price of $1,200 per ounce and a 5% discount rate, the DFS reported a net present value ("NPV") of $321 million after-tax and imputed interest, and an internal rate of return ("IRR") of 50% on a 100% project basis. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained in this news release. This news release includes certain "forward-looking statements". All statements, other than statements of historical fact, included in this release, including the future plans and objectives of Avnel Gold, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that forward-looking statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Avnel Gold's expectations include, among others, risks related to international operations, the actual results of current exploration activities, conclusions of economic evaluations and changes in project parameters as plans continue to be refined as well as future prices of gold and silver, as well as those factors discussed in the section entitled "Risk Factors" in Avnel Gold's most recently completed Annual Information Form, which is available on SEDAR (www.sedar.com). Although Avnel Gold has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Except where indicated, the disclosure contained or incorporated into this news release of an economic, scientific or technical nature, has been summarised or extracted from the National Instrument 43-101 - Standards of Disclosure for Mineral Projects("NI43-101") compliant technical report titled "NI43-101 Technical Report on Kalana Main Project", dated effective 30 March 2016 (the "Kalana Technical Report"), prepared by Snowden Mining Industry Consultants (Pty) Ltd. ("Snowden"), Denny Jones Ltd ("Denny Jones"), DRA Projects SA (Pty) Ltd ("DRA") and Epoch Resources (Pty) Ltd ("Epoch Resources"). The Kalana Technical Report was prepared under the supervision of Mr. Allan Earl (Executive Consultant - Mining Engineering of Snowden), Mr. Ivor Jones (Executive Consultant - Applied Geosciences of Denny Jones (Pty) Limited), Mr. Glenn Bezuidenhout (Principal Process Engineer of DRA), Mr. Sybrand van der Spuy (Civil Engineer of DRA), Mr. Guy Wiid (Principal Consultant -Tailings and Waste Rock Facilities of Epoch Resources), and Mr. Stephanus (Fanie) Coetzee (Principal Consultant -Environmental and Social of Epoch Resources), all of whom are independent "Qualified Persons" as such term is defined in NI 43-101. Readers should consult the Kalana Technical Report to obtain further particulars regarding the Kalana Project, which contains the Kalana Main Project, the Kalana Mine, plus a number of mineral exploration prospects. The Company filed the Kalana Technical Report in support of the Feasibility Study and the ESIA on SEDAR on May 6, 2016. Table 1: Kalanako Drilling - Select Composite Intervals Includes intervals >5 g/t.m, cut-of grade of 0.65 g/t Au, maximum 3m of internal dilution, no assay are capped To view Figure 1: Kalanako mineralisations, 2016 campaign drilling pattern and batch 1 significant intercepts (>5g/t.m), please visit the following link: http://media3.marketwire.com/docs/Significant%20intersections.jpg To view Figure 2: Kalanako mineralisations, drilling pattern, maiden resource pit shells and Historical Traditional mining footprint, please visit the following link: http://media3.marketwire.com/docs/Historical%20traditional.jpg To view Figure 3: Induced Polarisation (IP) gradient map highlighting the structural location of the Kalanako prospect and the area drilled to date, please visit the following link: http://media3.marketwire.com/docs/IP%20gradient.jpg
News Article | November 12, 2016
Receive press releases from FNT Fiber Network Tools & Telecom Supplies Inc.: By Email Sixth Largest City in the U.S. Deploys New Fiber Optic Breakaway Connector Developed by FNT After years of tolerating multiple monthly cabinet strikes and hundreds of thousands of dollars in cabling infrastructure losses, the sixth largest city in the U.S. is now fighting back with a state-of-the-art technology, developed in their own back yard. The first deployment of FNT's Patent Pending Controlled Shear Point (CSP) Technology occurred on June 8th and began with the conversion of three traffic cabinets located in The City of Phoenix. Phoenix, AZ, November 12, 2016 --( Not considered as part of the cabinet itself, the CSP devices are available for Control, Power, and Fiber protection, and are easy to deploy on new and existing cabinets. In the event of a cabinet strike, the CSP breakaway technology enables fast and easy re-connection, restoring the intersection to full operability in just minutes. CSP Shear Technology began in 2009, with the introduction of the Intelligent Release Interconnect System (IRIS), a complete outdoor rated fiber optic break-away connector. IRIS was designed to eliminate the need for cabinet interconnect devices, which often used indoor rated optical connection components, such as patch cables. Jeff Dominique, inventor and CEO of FNT explained that "Our original thought in designing the IRIS was to completely follow the intent of the ISMA rating, which at that time had not been applied to fiber optic interconnection devices." The recently released CSP Shear Technology promises to change the face on how municipalities, as well as all Department of Transportation agencies across the country protect their investments, reduce liability and property damage, and promote a greater level of public safety. Visit FNTTools.com or call FNT at 866-818-8050 to learn more on how CSP Technology or IRIS can save cost and provide the ultimate level of roadside safety, protection, and quick restoration. FNT Fiber Network Tools & Telecom Supplies Inc. is an award winning, WBENC certified woman-owned small business (WOSB) specializing in the manufacturing and distribution of fiber optic equipment and supplies. FNT offers a large stock of telecom products designed for installing, testing and maintaining fiber, copper and hybrid based networks. FNTTools.com is home to thousands of telecommunication products and ships all equipment from our product warehouse located in Phoenix, Arizona. Learn more at www.FNTTools.com. Phoenix, AZ, November 12, 2016 --( PR.com )-- City of Phoenix Civil Engineer, Marshall Riegel was quoted saying, "The City chose to deploy the CSP Shear Point Technology to eliminate the catastrophic cabling infrastructure losses and high costs associated with cabinet strikes." Marshall continued that, "The cost savings that will occur from eliminating the glass pinging effect, where fiber under tension has a tendency to break in multiple locations, can potentially save the City thousands of dollars. Further, with the pull protection provided by CSP, FNT claims that the cabling to equipment interfaces can now be direct connected, eliminating the initial and on-going maintenance costs associated with cross connect devices and patch cables. Elimination of these unnecessary components nearly pays for the installed cost of the CSP device."Not considered as part of the cabinet itself, the CSP devices are available for Control, Power, and Fiber protection, and are easy to deploy on new and existing cabinets. In the event of a cabinet strike, the CSP breakaway technology enables fast and easy re-connection, restoring the intersection to full operability in just minutes.CSP Shear Technology began in 2009, with the introduction of the Intelligent Release Interconnect System (IRIS), a complete outdoor rated fiber optic break-away connector. IRIS was designed to eliminate the need for cabinet interconnect devices, which often used indoor rated optical connection components, such as patch cables. Jeff Dominique, inventor and CEO of FNT explained that "Our original thought in designing the IRIS was to completely follow the intent of the ISMA rating, which at that time had not been applied to fiber optic interconnection devices."The recently released CSP Shear Technology promises to change the face on how municipalities, as well as all Department of Transportation agencies across the country protect their investments, reduce liability and property damage, and promote a greater level of public safety.Visit FNTTools.com or call FNT at 866-818-8050 to learn more on how CSP Technology or IRIS can save cost and provide the ultimate level of roadside safety, protection, and quick restoration.FNT Fiber Network Tools & Telecom Supplies Inc. is an award winning, WBENC certified woman-owned small business (WOSB) specializing in the manufacturing and distribution of fiber optic equipment and supplies. FNT offers a large stock of telecom products designed for installing, testing and maintaining fiber, copper and hybrid based networks. FNTTools.com is home to thousands of telecommunication products and ships all equipment from our product warehouse located in Phoenix, Arizona. Learn more at www.FNTTools.com. Click here to view the list of recent Press Releases from FNT Fiber Network Tools & Telecom Supplies Inc.
News Article | November 29, 2016
RENTON, WA, November 29, 2016-- Brian Thomas has been included in Marquis Who's Who. As in all Marquis Who's Who biographical volumes, individuals profiled are selected on the basis of current reference value. Factors such as position, noteworthy accomplishments, visibility and prominence in a field are taken into account during the selection process.Throughout his life, Mr. Thomas strived to quietly make a positive and substantial impact. From his childhood in Tacoma, WA to his retirement in Renton, WA he has left a trail of incremental improvement in government, technology and community.As a youth he worked in a wide range of jobs from foundry worker, meter reader, and ground keeper ultimately graduating from college with an engineering degree, attending law school and, later received an MBA.He joined the U.S. Coast Guard shortly after graduation from Oregon State University and served as a Civil Engineer and Operation Officer on a CG Cutter. Joining the CG Reserves he retired with the rank of Captain. He was instrumental in restructuring the CG Reserve to make it more responsive to national emergencies. After his service with the CG he was Deputy Director Designate of the Department of Transportation in Region 10 for the National Defense Executive Reserve in the Pacific NW.Employed at Puget Sound Power and Light Co., now Puget Sound Energy, he ascended from Senior Sales Engineer to head the research department. He had an integral part in bringing wind energy and fuel cells to the notice of industry as Chair of the Renewable Energy Committee of the Electric Power Research Institute and Chair of the Edison Electric Institute Research Management Committee. He was also on the Advisory Board of the National Renewable Energy Laboratory in Golden. CO and the Electrical Engineering Advisory Committee at Oregon State University.Elected in 1998 to his local school board he served 4 years until he was elected to the Washington State House of Representatives where he served for 8 years. Representative Thomas championed charter schools, open government and tax reform. He served as Chair of the Finance Committee for 6 years and was prime sponsor of many successful tax reform bills, as well as the Chair of the School Construction Task Force and a member of the State Forecast Council.Retiring from military service, political office and industry, he continues his active participation in Rotary and Freemasonry. As a 33˚ Scottish Rite Mason he continues on the Washington State Board of Early Life Speech and Language, dedicated to helping children with speech challenges.He is also very active in Friendship Force International having been President of the Seattle-Tacoma organization and has traveled on behalf of FFI to over 20 countries promoting peace and understanding.The local community recognizes Mr. Thomas as having been a Trustee of the King County Municipal League, a Director of the Preston Arboretum, a Cub and Boy Scout leader and an active participant in community affairs.Mr. Thomas now focuses his business attention on his winery and vineyard in Manson, WA and investing in growth businesses in the Pacific NW.Mr. Thomas has been featured in 19 editions of Who's Who in the West, 10 editions of Who's Who in America, seven editions of Who's Who in American Politics and one edition of Who's Who in the World.About Marquis Who's Who :Since 1899, when A. N. Marquis printed the First Edition of Who's Who in America , Marquis Who's Who has chronicled the lives of the most accomplished individuals and innovators from every significant field of endeavor, including politics, business, medicine, law, education, art, religion and entertainment. Today, Who's Who in America remains an essential biographical source for thousands of researchers, journalists, librarians and executive search firms around the world. Marquis now publishes many Who's Who titles, including Who's Who in America , Who's Who in the World , Who's Who in American Law , Who's Who in Medicine and Healthcare , Who's Who in Science and Engineering , and Who's Who in Asia . Marquis publications may be visited at the official Marquis Who's Who website at www.marquiswhoswho.com