Silver Stream Mining Corp. Signs Definitive Agreement With Redstone Resources Corp.


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OTC:BB:AGSM / PK:LNGLF / PK:JRCCQ
05/16/2014 [ACCESSWIRE]

Silver Stream Mining Corp. (OTCQB: AGSM) saw its share volume skyrocket on May 15th with 534,382 shares exchanging hands, more than four times higher than its three month daily average volume of 119,115 shares.

This uptick in volume comes after Silver Stream Mining Corp. announced it completed its corporate due diligence and signed a definitive agreement with Redstone Resources Corp to earn in and ultimately buyout the Zonia Copper Project.

Under the terms of the Agreement, Silver Stream will be making a $500,000 USD First Tranche investment into Redstone over six (6) monthly installments of $83,333 USD and acquiring 2,500,000 shares of Redstone's Common Shares at $0.20/share for a 4.94% equity position in Redstone. Silver Stream announced its first payment of $83,333 to Redstone in its March 26, 2014 news release.

AGSM closed at $.64, down 14.67% from its previous close of $.75.

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US Federal Energy Regulatory Commission Accepts Magnolia Liquefied Natural Gas Ltd.’s Project’s Filing Status

Liquefied Natural Gas Ltd. (OTCPINK: LNGLF) saw its share volume soar on May 15th with 1,144,234 shares exchanging hands, significantly higher than its three month daily average share volume of 269,411 shares. 

This jump in volume comes after Liquefied Natural Gas (LNG) announced that the US Federal Energy Regulatory Commission (FERC) formally accepted Magnolia LNG project’s filing application.  Magnolia LNG is among leading LNG export projects based in the United States to have completed this important milestone which is a critical step toward permitting and approval necessary for the MLNG Project’s construction.

The Company's Managing Director, Maurice Brand, said "FERC's formal acceptance of Magnolia LNG Project's filing application is another step forward for the Magnolia LNG Project, placing it among a small group of projects to have formally received this notification from FERC."

"Magnolia LNG anticipates receiving all approvals during 2015 and such approvals will be a key requirement for Financial Close. Construction will commence shortly thereafter with first LNG exports planned for the second half of 2018."

LNGLF closed at $.805 on May 15th, 16.67% higher than its previous close of $.69.

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James River Coal Co. Sees Share Volume Remain Strong

James River Coal Co. (OTCPINK: JRCCQ) saw its share volume remain strong on May 15th with 1,164,775 shares exchanging hands, slightly higher than its three month daily average volume of 928,958 shares.

On May 1st, NASDAQ announced that it would delist the common stock of James River Coal Company.  It was suspended on April 17th, 2014 and had not traded on NASDAQ since that time. 

With no other news, let’s focus on what the company does:

James River Coal Company, through its subsidiaries, engages in mining, processing, and selling thermal and metallurgical coal in eastern Kentucky, southern West Virginia, and southern Indiana. The company operates in two segments, Central Appalachia and the Midwest. James River Coal Company conducts its mining operations in Bell County, Bledsoe, Blue Diamond Buckeye, Blue Diamond Leatherwood, Hampden, McCoy Elkhorn, Laurel Mountain, and Triad mining complexes. As of December 31, 2012, the company had approximately 341.7 million tons of proven and probable coal reserves. James River Coal Company sells its coal to utility, industrial, and steel customers. The company was founded in 1988 and is headquartered in Richmond, Virginia. On April 7, 2014, James River Coal Company, along with its affiliates, filed a voluntary petition for reorganization under Chapter 11 in the US Bankruptcy Court for the Eastern District of Virginia.

JRCCQ closed at $.31 on May 15th, 36.56% higher than its previous close of $.227.

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