|By Marketwired .||
|November 9, 2012 05:22 PM EST||
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 11/09/12 -- Mundoro Capital Inc. (TSX VENTURE:MUN) ("Mundoro" or the "Company") (www.mundoro.com) announces the filing of the Company's financial results for the quarter ended September 30, 2012. The highlights provided in this release should be read in conjunction with the Company's quarterly financial statements and Management Discussion and Analysis, which are available on SEDAR at www.sedar.com and at the Company's website. All dollar amounts are in U.S. dollars unless otherwise stated.
The Company's loss for the nine months ended September 30, 2012 was $3,709,819 ($0.10 per share) compared to a loss of $2,426,496 ($0.06 per share) for the for the nine months ended September 30, 2011 which included a loss from discontinued operations of $494,401. The loss for the first nine months of 2012 was principally attributable to the following: expenditures on project exploration and evaluation of $1,564,406 in 2012 compared to $576,552 2011; and, expenditures for dissident related costs of $1,156,786 compared to $Nil in 2011. The non-cash items were: foreign exchange gain of $4,785 compared to a loss of $606,225 in 2011; share-based payment expense of $134,151 compared to $183,409 in 2011; and, depreciation $13,643 compared to $Nil in 2011.
The Company maintains a low share count of 41.9 million shares and at September 30, 2012 held $7.3 million in cash and cash equivalents with a further $10.3 million in short-term investments.
The Company alerts shareholders that the dissident shareholder news release issued on November 7, 2012 is not from the Company as it incorrectly states the Company is the source. Mundoro, with its strong record of sound corporate governance and of acting in the best interests of shareholders generally, firmly stands behind all procedures followed during the Annual General and Special Meeting of shareholders held on August 27, 2012 in Vancouver (the "AGM"). The recent allegations made by certain dissident shareholders who were unsuccessful in their attempt to, first, ambush the AGM, then solicit sufficient shareholder support to replace the board of directors (the "Board") at the AGM, are without merit. Mr. John Hoey, Chairman of the Board, commented, "Once again, we would like to take this opportunity to express our gratitude to the shareholders of Mundoro for their support at the AGM. The company continues to move forward and management is executing on its strategic plans for the benefit of all shareholders."
As part the Company's annual corporate governance review, the Board has adopted a comprehensive set of corporate governance policies including, among others, Board Charter, Audit Committee Charter, Nominating and Corporate Governance Committee Charter, Compensation Committee Charter, Code of Business Conduct & Ethics, Whistleblower Policy, Disclosure, Confidentiality and Insider Trading Policy, and an Advance Notice Policy. The corporate governance policies were adopted by the Board on November 8, 2012 and are effective as of the date approved. All governance polices will be made available on the Company's website. The Advance Notice Policy will be submitted for shareholder approval at the next Annual and Special General Meeting of the Company. The same Advance Notice Policy received majority support of shareholders at the AGM, but did not attain the two-thirds vote required to adopt the Policy as an amendment to the Company's Articles of Incorporation.
In other business of the Company, the Board approved a grant of 105,000 stock options to independent directors of the Company and 150,000 stock options to a contractor of the Company. The options will be granted at closing price on November 14, 2012, when the Company's current blackout will be lifted. The options are exercisable for a period of five years until November 8, 2017.
On behalf of the Company,
Teo Dechev, Chief Executive Officer, President and Director
About Mundoro Capital Inc.
Mundoro is a well-funded, Canadian based company which operates as a mineral acquisition, exploration, development and investment company. The Company has exploration properties in the Tethyan Belt in South Eastern Europe and the Mesa Central Belt in Northwestern Mexico, both of which are prolific mineral belts the Company believes have strong exploration and development potential. In Serbia, Mundoro has seven mineral exploration licenses covering 499 sq. km. within the well-known Timok Magmatic Complex which hosts significant Au-Cu porphyry deposits and related Au-Cu epithermal deposits. In Mexico, Mundoro has thirteen mineral concessions covering 1,541 sq. km. in the Mesa Central belt, of which Centauro is the furthest advanced exploration property. The Company maintains an interest in the Maoling Gold Project through its 5% interest in Mundoro Mining Inc.
For the Maoling Gold Project, the Pre-Feasibility Study("PFS") described herein was prepared to broadly quantify the Maoling Zone 1 deposit's capital and operating cost parameters, and to further the development of the project. It was not prepared for use as a valuation of the deposits, nor should it be considered to be a final feasibility study. The information contained in the PFS reflects various technical and economic conditions at the time of writing that can change significantly over relatively short periods of time. Reserves quoted were prepared by AMEC Americas Ltd. under the direction and oversight of Mr. Mark Pearson P.Eng. of Vancouver, BC, an 'Independent Qualified Person' as defined by National Instrument 43-101. Resource estimation for the Zone 1 area in 2006 was carried out in the Brisbane, Australia office of Golder Associates Pty Limited, an international earth sciences consulting group under the direction and oversight of Dr. Andrew Richmond, MAusIMM, an 'Independent Qualified Person' as defined by NI43-101. The Zone 4 Resource Estimate (2001) was prepared by AMEC Americas and is reviewed in a technical report prepared by Peter Lewis, Ph.D., P.Geo.
For the Cuencame Property, the Technical Report was prepared by Alain-Jean Beauregard, P. Geol., FGAC, AEMQ, an 'Independent Qualified Person' as defined by National Instrument 43-101, and an employee of Geologica GroupeConseil Inc., who consented to the filing of the Technical Report prepared for Mundoro Capital Inc. titled "NI 43-101 Technical Evaluation Report on the Cuencame Concessions", dated September 20, 2011 with the securities regulatory authorities.
NI43-101 compliant technical reports for the pre-feasibility study and all reserve and resource estimates have been filed on the SEDAR website at www.sedar.com.
Caution Concerning Forward-Looking Statements
Information included, attached to or incorporated by reference into this News Release may contain forward looking statements. All statements, other than statements of historical fact, included or incorporated by reference in this News Release are forward-looking statements, including, without limitation, statements regarding activities, events or developments that the Board expects or anticipates may occur in the future. These forward-looking statements can be identified by the use of forward-looking words such as "will", "expect", "intend", "plan", "estimate", "anticipate", "believe" or "continue" or similar words or the negative thereof. The material assumptions that were applied in making the forward looking statements in this News Release include expectations as to the Company's future strategy and business plan and execution of the Company's existing plans. There can be no assurance that the plans, intentions or expectations upon which these forward-looking statements are based will occur. We caution readers of this News Release not to place undue reliance on forward looking statements contained in this News Release, which are not a guarantee of performance and are subject to a number of uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These factors include general economic and market conditions, changes in law, regulatory processes, the status of Mundoro's assets and financial condition, actions of competitors and the ability to implement business strategies and pursue business opportunities. The forward-looking statements contained in this News Release are expressly qualified in their entirety by this cautionary statement. The forward-looking statements included in this News Release are made as of the date of this News Release and the Board undertakes no obligation to publicly update such forward-looking statements to reflect new information, subsequent events or otherwise, except as required by law. Shareholders are cautioned that all forward-looking statements involve risks and uncertainties and for a more detailed discussion of such risks and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements, refer to the Company's filings with the Canadian securities regulators available on www.sedar.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Recently announced Azure Data Lake addresses the big data 3V challenges; volume, velocity and variety. It is one more storage feature in addition to blobs and SQL Azure database. Azure Data Lake (should have been Azure Data Ocean IMHO) is really omnipotent. Just look at the key capabilities of Azure Data Lake:
Oct. 6, 2015 07:00 PM EDT Reads: 219
SYS-CON Events announced today that G2G3 will exhibit at SYS-CON's @DevOpsSummit Silicon Valley, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Based on a collective appreciation for user experience, design, and technology, G2G3 is uniquely qualified and motivated to redefine how organizations and people engage in an increasingly digital world.
Oct. 6, 2015 06:30 PM EDT Reads: 329
In his session at @ThingsExpo, Tony Shan, Chief Architect at CTS, will explore the synergy of Big Data and IoT. First he will take a closer look at the Internet of Things and Big Data individually, in terms of what, which, why, where, when, who, how and how much. Then he will explore the relationship between IoT and Big Data. Specifically, he will drill down to how the 4Vs aspects intersect with IoT: Volume, Variety, Velocity and Value. In turn, Tony will analyze how the key components of IoT ...
Oct. 6, 2015 06:00 PM EDT Reads: 303
When it comes to IoT in the enterprise, namely the commercial building and hospitality markets, a benefit not getting the attention it deserves is energy efficiency, and IoT’s direct impact on a cleaner, greener environment when installed in smart buildings. Until now clean technology was offered piecemeal and led with point solutions that require significant systems integration to orchestrate and deploy. There didn't exist a 'top down' approach that can manage and monitor the way a Smart Buildi...
Oct. 6, 2015 05:00 PM EDT Reads: 247
SYS-CON Events announced today that Cloud Raxak has been named “Media & Session Sponsor” of SYS-CON's 17th Cloud Expo, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Raxak Protect automates security compliance across private and public clouds. Using the SaaS tool or managed service, developers can deploy cloud apps quickly, cost-effectively, and without error.
Oct. 6, 2015 04:40 PM EDT
As-a-service models offer huge opportunities, but also complicate security. It may seem that the easiest way to migrate to a new architectural model is to let others, experts in their field, do the work. This has given rise to many as-a-service models throughout the industry and across the entire technology stack, from software to infrastructure. While this has unlocked huge opportunities to accelerate the deployment of new capabilities or increase economic efficiencies within an organization, i...
Oct. 6, 2015 03:00 PM EDT Reads: 113
“All our customers are looking at the cloud ecosystem as an important part of their overall product strategy. Some see it evolve as a multi-cloud / hybrid cloud strategy, while others are embracing all forms of cloud offerings like PaaS, IaaS and SaaS in their solutions,” noted Suhas Joshi, Vice President – Technology, at Harbinger Group, in this exclusive Q&A with Cloud Expo Conference Chair Roger Strukhoff.
Oct. 6, 2015 02:45 PM EDT Reads: 367
Scott Guthrie's keynote presentation "Journey to the intelligent cloud" is a must view video. This is from AzureCon 2015, September 29, 2015 I have reproduced some screen shots in case you are unable to view this long video for one reason or another. One of the highlights is 3 datacenters coming on line in India.
Oct. 6, 2015 02:00 PM EDT Reads: 227
“The Internet of Things transforms the way organizations leverage machine data and gain insights from it,” noted Splunk’s CTO Snehal Antani, as Splunk announced accelerated momentum in Industrial Data and the IoT. The trend is driven by Splunk’s continued investment in its products and partner ecosystem as well as the creativity of customers and the flexibility to deploy Splunk IoT solutions as software, cloud services or in a hybrid environment. Customers are using Splunk® solutions to collect ...
Oct. 6, 2015 01:00 PM EDT Reads: 580
SYS-CON Events announced today that ProfitBricks, the provider of painless cloud infrastructure, will exhibit at SYS-CON's 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. ProfitBricks is the IaaS provider that offers a painless cloud experience for all IT users, with no learning curve. ProfitBricks boasts flexible cloud servers and networking, an integrated Data Center Designer tool for visual control over the...
Oct. 6, 2015 01:00 PM EDT Reads: 737
You have your devices and your data, but what about the rest of your Internet of Things story? Two popular classes of technologies that nicely handle the Big Data analytics for Internet of Things are Apache Hadoop and NoSQL. Hadoop is designed for parallelizing analytical work across many servers and is ideal for the massive data volumes you create with IoT devices. NoSQL databases such as Apache HBase are ideal for storing and retrieving IoT data as “time series data.”
Oct. 6, 2015 12:45 PM EDT Reads: 456
Clearly the way forward is to move to cloud be it bare metal, VMs or containers. One aspect of the current public clouds that is slowing this cloud migration is cloud lock-in. Every cloud vendor is trying to make it very difficult to move out once a customer has chosen their cloud. In his session at 17th Cloud Expo, Naveen Nimmu, CEO of Clouber, Inc., will advocate that making the inter-cloud migration as simple as changing airlines would help the entire industry to quickly adopt the cloud wit...
Oct. 6, 2015 12:30 PM EDT Reads: 578
As the world moves towards more DevOps and microservices, application deployment to the cloud ought to become a lot simpler. The microservices architecture, which is the basis of many new age distributed systems such as OpenStack, NetFlix and so on, is at the heart of Cloud Foundry - a complete developer-oriented Platform as a Service (PaaS) that is IaaS agnostic and supports vCloud, OpenStack and AWS. In his session at 17th Cloud Expo, Raghavan "Rags" Srinivas, an Architect/Developer Evangeli...
Oct. 6, 2015 12:15 PM EDT Reads: 105
SYS-CON Events announced today that VividCortex, the monitoring solution for the modern data system, will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. The database is the heart of most applications, but it’s also the part that’s hardest to scale, monitor, and optimize even as it’s growing 50% year over year. VividCortex is the first unified suite of database monitoring tools specifically desi...
Oct. 6, 2015 12:00 PM EDT Reads: 409
Organizations already struggle with the simple collection of data resulting from the proliferation of IoT, lacking the right infrastructure to manage it. They can't only rely on the cloud to collect and utilize this data because many applications still require dedicated infrastructure for security, redundancy, performance, etc. In his session at 17th Cloud Expo, Emil Sayegh, CEO of Codero Hosting, will discuss how in order to resolve the inherent issues, companies need to combine dedicated a...
Oct. 6, 2015 12:00 PM EDT Reads: 438