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Published July 21, 2015
The following brief reports are provided to inform the investing public. We have not been compensated in any form for the following reports.
Trans-Pacific Aerospace Company, Inc. (OTCBB: TPAC) FULL REPORT
The Timken Company (“Timken”) has placed an order, which is still valid and open, so as to examine products produced by TPAC with the mutual goal of Timken and TPAC entering into a long-term relationship through which Timken would globally market the products produced by TPAC under the Timken brand.
Bill McKay, the CEO of TPAC stated: “We are very proud of our accomplishment regarding both our qualification work and how it has manifested itself in the order. It shows that the barriers to entry for these products are exceedingly high and is a testament to the value of our qualification approval and our hard work. While we have a lot of work ahead in both producing these parts and establishing a long term relationship with Timken, we relish the opportunity to perform at our best. Timken is an outstanding brand in the industry and therefore it is incumbent upon TPAC to produce products that are worthy to be marketed under this outstanding brand name. We are more than up to the challenge.
“This order took a long time to start because we were expecting to form a joint venture with AVIC Harbin Bearings (“Harbin”) through which we would produce these parts. Both Timken and TPAC agreed that under the circumstances it was best to produce the parts in Harbin so that they would be representative of long-term production parts. Unfortunately we could not get Harbin to make a decision regarding a joint venture so we were forced to abandon that project. We are now in a position to handle the order on our own and have already started to generate components for the order. We are very grateful for the patience and professionalism exhibited by Timken, while we attempted to reach a deal with Harbin. We are confident that we will supply excellent parts through which we can establish a long term relationship with Timken regarding airframe bearings and enhance the superior Timken brand name.”
SUTIMCo International, Inc. (OTCBB: SUTI) FULL REPORT
The company recently announced a material event with respect to the status of the pending Sutimco (SUTI) dividend for the ProTek Capital (PRPM) shareholders. As we await confirmation of final approval for both the record date and distribution date from FINRA, management would like to take the opportunity to disclose to shareholders that majority shareholders, Edward Vakser and affiliates, have made agreement to retire their (approximate 300 million) dividend shares that they were to receive from this corporate action. All of their dividend shares will be returned to the company treasury.
I am pleased that our commitment to honor this dividend is finally coming to a close. As CEO I am very appreciative that affiliates have taken this noteworthy initiative to eliminate these shares from our Sutimco company share structure. Our ProTek shareholders have been most patient awaiting this company accomplishment and their patience does not go unnoticed. On another note with respect to company progress, on July 1, 2015 the company made reference to the completion of negotiations with a hemp edibles group in California. Next week, we will be making an announcement as to the progress of the LOI signing for this venture. As previously stated I would like to reiterate to shareholders that any shares that we use for acquisitions are 144 restricted (1 year restricted), and these deals will not interfere with our pending dividends nor will there be any need for a stock split in our foreseeable future.” Stated Mr. Saenz, CEO/SutimCo International Inc.
Recently the company posted following Shareholders Updates:
“The company is poised to do great things! We are very focused on executing the plan and expanding our presence in the Cannabis/MJ market space. I believe that we are in a very unique position to establish great branding for our company and vertically integrate SUTI into several areas of this vastly expanding market segment,” stated CEO, Jorge Saenz.
“At the end of 2014, 15,992 people were licensed to work in the marijuana industry in Colorado alone, an increase of 143% over the previous year.”
“A recent report from The ArcView Group, a cannabis research and investment firm, dubbed legal marijuana the fastest-growing industry in the U.S. and valued it at $2.4 billion in 2014 – the year legal, recreational marijuana sales first started in Colorado. ArcView is expecting the industry to grow by another 32% this year.”
“I think people need to be educated to the fact that marijuana is not a drug. Marijuana is a flower. God put it here.” – Willie Nelson
“‘2014 was the year where the cannabis industry went from being an interesting casual conversation to something any serious business person has given a fleeting thought,’ said Troy Dayton, cofounder of The ArcView Group. “Unlike other new industries, the demand for cannabis and related products already exists, driving the sec tor’s rapid growth. The industry grew from $1.5 billion in 2013 to $2.7 billion in 2014 – a 74% increase in one year, according to The ArcView Group’s latest market analysis report.”
Banro Corp. (NYSE-MKT: BAA) FULL REPORT
Q2 OPERATIONAL HIGHLIGHTS
◾Twangiza produced 34,325 ounces of gold in the second quarter of 2015, a 60% increase over Q2 2014 (21,431 ounces in Q2 2014), for year-to-date production of 70,268 ounces of gold.
◾Namoya achieved stacking levels greater than 140,000 tonnes in June as the mine continued its ramp-up to commercial production.
◾For the second consecutive quarter, throughput at the Twangiza process plant achieved 101% of the 1.7 million tonnes per annum (“Mtpa”) annualized design capacity.
◾This throughput achievement at Twangiza includes processing an average of 43% non-oxide material at an overall average process recovery of 82.2%.
◾Twangiza and Namoya produced a combined 44,850 ounces of gold during Q2 2015.
“Twangiza continued to perform well through the quarter. Performance levels are stabilizing as the mine continues to process increased levels of non-oxide material. Mine management is continuing to build on the achievements to date, with a particular focus on optimizing operations at Twangiza. Namoya’s operational performance progressively improved during the second quarter as capital equipment was commissioned. Namoya continues to achieve improved ore production and stacking rates and is now well-positioned for continued incremental improvements as it builds toward commercial production levels in Q3 2015,” commented Banro President and CEO John Clarke.
Twangiza Update
Twangiza focused on debottlenecking during the second quarter of 2015, and incrementally improved the processing of ore with the ongoing blending of non-oxide material. This focus allowed for the operation to maintain throughput at the annualized design capacity of 1.7 Mtpa, while increasing the proportion of non-oxide material to an average of 43% for the quarter. The previously reported upgrade in mineral reserves, together with the plant’s success in maintaining annualized throughput levels through two consecutive quarters, provides confidence in the plant’s ability to maintain current performance levels. Similar to the first quarter, mine productivity allowed for the availability of high grade ore in addition to appropriate blending of oxide and non-oxide material. Twangiza management will continue to focus on process debottlenecking and optimization to secure reliable throughput levels that can be maintained through the rainy season.
Twangiza poured 10,569 ounces in April, 12,059 ounces in May and 11,697 ounces in June for a second quarter 2015 total of 34,325 ounces of gold. Similar to the first quarter of 2015, these production levels significantly exceeded the 2015 monthly average production guidance of 9,000 ounces. As a result of this strong performance in the first half of the year, Banro is pleased to increase Twangiza’s 2015 gold production guidance to a range of 115,000 to 125,000 ounces.
The Company’s preliminary 2015 second quarter production results for the Twangiza mine, in comparison to the same quarter of 2014 and the previous quarter in 2015 are as follows:
Operating Metrics Units Q2 2015 Q2 2014 % Change Q1 2015 % Change H1 2015 H1 2014 % Change
Total material mined Tonnes 770,162 871,849 (12 % ) 975,716 (21 % ) 1,745,878 1,599,272 9 %
Total ore mined Tonnes 548,175 485,276 13 % 632,264 (13 % ) 1,180,439 781,600 51 %
Total ore milled Tonnes 428,661 340,654 26 % 428,844 0 % 857,505 593,344 45 %
Head grade g/t Au 3.01 2.44 23 % 3.21 -6 % 3.10 2.56 21 %
Recovery % 82.2 84.3 (2 % ) 80.7 2 % 81.4 84.6 (4 % )
Strip ratio t:t 0.41 0.80 (49 % ) 0.54 (24 % ) 0.48 0.98 (51 % )
Gold production Ounces 34,325 21,431 60 % 35,943 (5 % ) 70,268 41,568 69 %
The insights gained from Twangiza’s experience with the treatment of non-oxide material and improved blending with oxide material allowed for a significant increase over the previous quarter in the percentage of non-oxide material processed coupled with an increase in overall recoveries.
Namoya Update
Throughout the second quarter of 2015, Namoya continued to ramp up toward commercial production levels, achieving stacking levels greater than 140,000 tonnes of agglomerated ore in June. As previously reported, the delay in financing resulted in a need to modify the mine plan to allow for the pre-stripping of the Kakula reserve pit. This modification impacted ore availability early in the second quarter as the mine fleet focused on waste removal in order to allow for increased access to mining faces when the first additions to the mobile fleet were commissioned in late May. This contributed to a decrease in the stacking level in April to 57,211 tonnes, which subsequently increased to 130,974 tonnes in May and 142,082 tonnes in June. The significant decrease in stacking levels from March’s 103,163 tonnes to April was also driven by the adverse impact of unseasonably high rains which interrupted supply routes and the ability to deliver procured materials and supplies. The availability of ore from mining activities and the available medium grade stockpile material resulted in the stacking of ore with an average grade of 1.52 g/t Au. Namoya management is continuing to implement process modifications and upgrades, which are resulting in significant progress toward steady-state operating levels. Namoya poured 3,114 ounces in April, 3,315 ounces in May and 4,096 ounces in June, for a second quarter 2015 total of 10,525 ounces of gold.
During the second half of June and early July, Namoya achieved stacking rates in excess of 5,000 tonnes per day (“tpd”) and is expected to increase to over 6,000 tpd by the end of July. As Namoya progresses through the third quarter of 2015, the commissioning of the second stage of the additional mobile fleet, which is now on site, and delivery of the currently procured third stage, will allow the operation to advance more quickly with a number of mining activities, including waste stripping which was re-sequenced following the delay in financing. This will result in improved ore access in multiple pits, allowing the mining team to effectively drill, blast and mine ore and enable the delivery of ore at an average grade consistent with or above the average reserve grade in the latter half of the third quarter and into the fourth quarter. These activities will in turn support continuous increases in stacking rates following the commissioning of process upgrades early in the third quarter.
Heap leach operations require several months of continuous percolation to fully recover the leachable gold. Thus, the process advancements from the second quarter, together with ongoing improvements to the heap leach circuit, are projected to result in monthly gold production of about 9,000 ounces once steady-state operating levels are achieved during H2 2015. Taking into account production at Namoya during the first six months of the year, together with the impact of delays in mobile equipment financing and the resulting delivery timelines on the ramp-up of Namoya, the Company has updated expected 2015 gold production from Namoya to a range of 60,000 to 70,000 ounces.
The Company’s preliminary 2015 second quarter production results for the Namoya mine, compared to the same quarter of 2014 and the previous quarter in 2015, are as follows:
Operating Metrics Units Q2 2015 Q2 2014 Q1 2015
Total ore mined Tonnes 253,113 335,674 178,800
Total ore stacked Tonnes 330,267 65,859 255,323
Head grade g/t Au 1.53 2.03 1.97
Strip ratio t:t 1.96 1.42 2.93
Gold production Ounces 10,525 1,458 9,254
Commenting on the results, Dr. Clarke said, “The strong production levels at Twangiza, together with the progress achieved at Namoya and continued improvements in cash flow, indicate that the Company is on course for maintaining steady-state production at Twangiza and successfully ramping-up production at Namoya to commercial production and steady-state levels.”
Overall, the consolidated 2015 annual gold production as a result of the outperformance of Twangiza combined with the delayed ramp-up of Namoya is expected to be 175,000 to 195,000 ounces.
Global Equity International, Inc. (OTCBB: GEQU) FULL REPORT
The company has agreed terms with Primesite Developments Limited and its subsidiaries, a commercial and residential property development group based in the North West of England, to evaluate, restructure and list company shares on the NASDAQ OTCQB in the USA. Primesite Developments Ltd. has four distinct divisions that bring two different revenue streams to the Company: property sales and rental income.
1) Dementia Care: Primesite develop and deliver turnkey “Dementia Care” facilities. These facilities are available to both the private and Government assisted fee payers. All Care Homes constructed are typically between 40 to 60 bedrooms plus communal and day care facilities.
2) Residential: Primesite develop residential housing available to end users on the retail market, as well as the property investment market (“buy to let” market). Current developments range between a single family home development, comprised of 14 executive homes, to 101 riverside apartments / condos.
3) Student: Primesite develop student-specific accommodations available to all students enrolled in full time higher education programs. A typical student accommodation developed by the Company will range between 30 to 120 bedrooms plus communal and shared facilities.
4) Office: Primesite develop turnkey serviced office space available to all business types. The typical office facility developed by the Company is between 20 and 60 offices plus light industrial and self-storage space where appropriate.
Primesite Developments Limited has various fully owned subsidiaries in the UK; each subsidiary is a SPV for a particular project that in currently underway (http://www.primesite-developments.com/projects/).
The Company tailors any development to fit into the needs of the ultimate customer, be it a corporate fund, large-scale facility operator, or a University student seeking maximum value and minimal but effective student living.
Peter Smith, CEO of GEP, said, “I have known management of Primesite for many years but the timing has never really been quite right. Now the UK is seeing more of an economic boom in the North West of the country with the prevailing government recently branding the key cities in the North West, where Primesite operate, as the Northern Power House as mentioned in the Queen of England’s speech earlier this year. The power house proposal involves improvement to transport links, investment in science and innovation and a generic boost to the region. Primesite are perfectly placed to take advantage of the focus that will be turned onto this part of the country, along with their extensive range of projects already as work in progress. We anticipate a strong to very strong short to medium term for the company, and we are delighted to be working with Primesite´s management.”
Kerry Tomlinson, CEO of Primesite Developments, said, “Our mission at Primesite is to provide a sustainable property development and sales business, with a balanced product range, and expanding retained portfolio, and we firmly believe that the key to our success will be considered, market-led diversification and adaptation of our product offering, routes to market and funding sourcing. We are extremely excited about having engaged with Global Equity Partners as we believe that their wealth of experience will help our Company move to another level in the months and years to come that are reflective of where we want to be and where we think we should be commercially.”
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