EnWave Strengthens Working Capital to Prepare for More Machine Orders post image

Because EnWave Corp. (TSXV:ENW – $0.83 CAD & OTC:NWVCF – $0.64 USD) expects to receive more machine purchase orders in the coming weeks and months it’s increasing its working capital through a bought deal private placement.

The Company has engaged the well-known Canadian investment bank Cormark Securities, which has committed to buy the entire offering. 5 million units are offered at $0.80 per unit for gross proceeds to EnWave of $4 million. Furthermore, Cormark has an option to buy an additional 1.25 million units for gross proceeds of $1 million. The deal is scheduled to close in a couple of weeks.

Each unit comprises one share and half a warrant, with each whole warrant entitling its holder to purchase one share at $1.20 for a 5 year period. [click to continue…]

Anthem United Achieves First Gold and Silver Production at Koricancha post image

During our recent visit to Anthem United’s (AFY – $0.34) Koricancha plant in southern Peru, it was clear that first commercial production would soon be a fact. This week, the Company announced first production of approximately 2,665 ounces of gold and 2,556 ounces of silver in doré.

Obviously reaching production is an extraordinary event for any resource company. Anthem has achieved this feat is less than two years after acquiring the Koricancha property, making it an even stronger achievement.

The Company will commence accounting for operations at the Koricancha Mill, in which it holds a 75% interest, as of October 1, 2015. So official first sales will be generated as of [click to continue…]

Strong Growth Catapults Auxilio to Top of Hospital Service Market post image

Auxilio Inc (AUXO – $0.95) provides outsourced Managed Print Services (MPS) and IT security consulting services to the healthcare industry in the United States. The Company takes full responsibility for healthcare customers’ on-site print environment through situation assessment, process analysis, strategy development and program implementation.

Hospitals and health systems benefit from streamlined and aligned processes and infrastructure that result in print management programs that reduce cost, increase employee productivity and meet and exceed patient care standards.

Once contracted for MPS services, the Company assumes all expenses related to the production of documents in hospitals. Customers are charged on a per print basis, which covers the entire print management process and [click to continue…]

Subsidiary’s Insolvency Gets EnWave Closer to Being Cash Flow Positive post image

Hans Binder Maschinenbau, the 86.5% owned German subsidiary of EnWave Corporation (TSXV:ENW – $0.83 CAD & OTC:NWVCF – $0.74 USD), which engineers and builds dehydration equipment, filed for insolvency early this week. The event has little or no negative impact on EnWave though.

Although the subsidiary’s orders and backlog had increased the past quarters, it wasn’t enough to become cash flow positive. In fact, during the first nine months of fiscal year 2015, ended June 30, Binder recorded a net loss of more than $3.3 million.

A receiver will shortly be appointed by a German court, who will work with Binder’s management, creditors, debtors and employees to finish ongoing projects in the coming months. This is important, because over $1.4 million of EnWave’s cash is currently tied up as collateral in regards to the completion of one of Binder’s projects. When the machine is successfully commissioned, part or whole of the restricted funds will be returned to EnWave. We heard the dryer is expected to be installed and running by the end of October 2015. [click to continue…]

EuroSite Power Live Case Study Impresses Potential Customers post image

EuroSite Power (EUSP – $0.79), which owns and operates clean, On-Site Utility™ systems that produce electricity, hot water, heat and cooling at hospital, healthcare, housing and leisure centers in the United Kingdom, hosted a live case study at the world famous Wentworth Club on Thursday.

Several potential customers, along with existing ones, attended the event. It provided an excellent opportunity to learn how EuroSite Power’s On-Site Utility Solutions™ using Combined Heat & Power (CHP) units offer immediate, risk free savings with zero capital investment or maintenance costs for the customer.

We attended the open house as well, and walked away impressed with the Company’s operations and its potential for growth (also see photos at the bottom). [click to continue…]

American Power Enters Lucrative Flare Capture and Recovery Market post image

Although American Power Group (APGI – $0.34) continues to develop and expand its cost-effective natural gas conversion technology for vehicular, stationary and off-road mobile diesel engines, the Company recently entered the lucrative flare capture and recovery market.

In August 2015, American Power signed a license agreement with Trident Resources, LLC for the exclusive worldwide right to commercialize Trident’s proprietary Natural Gas Liquid (NGL) process technology. In addition, American Power purchased substantially all of Trident’s operating assets including two existing mobile NGL operating systems.

This is a much needed service as oil and gas exploration and production (E&P) companies need to be ready for the more stringent flare capture regulations coming due in 2016 and 2020.

The Company believes that its newly founded NGL Services Division will generate between $5 to $10 million of revenues in its first year of operation. Knowing that American Power generated $6.2 million in revenues in its entire fiscal year 2014, it’s [click to continue…]

Our Visit to Anthem United’s Koricancha Toll Milling Plant in Peru post image

The small and artisanal miners have been fixtures on the Peruvian gold mining scene since time immemorial. Mining in that area goes back at least 7000 years. In more modern times this has continued to make a significant contribution to Peru’s silver and gold output. To give an idea, it is estimated that in 2010, in the Piura region alone, northern of Peru, 10,000 artisanal miners and more that 160 processing plants were active.

Until recently much of the actual minerals mined were treated by the environmentally dangerous use of mercury amalgamation to recover gold. This has resulted in significant contamination of many areas in Peru, including the headwaters of the Amazon region. In response to this, the government of Peru has worked hard the past year to bring the artisanal mining sector into compliance with international norms against the use of mercury.

Recent changes in Peruvian law have facilitated this normalization. For example, artisanal miners are required to formalize their arrangements with the actual concession owners – often informal miners were [click to continue…]