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Whether you're walking a tightrope or scribbling in your checkbook, balance is a good thing. And, one of the best ways to evaluate a company is to glance at its balance sheet to see what it owns with what it owes.
The balance sheet is a paragon of simplicity and is made up of three components: assets (the stuff it owns), liabilities (the money it owes), and shareholders' equity (the company's value to its shareholders).
Assets take two forms: short-term (or current) assets and long-term assets. Under short-term, there¿s good ol' hard cash. Then, there¿s something called "cash equivalents," which are assets like short-term bonds that can be sold so quickly, they might as well be cash. There you factor in inventory, which (if you're a reasonably competent business owner) you can sell to customers in return for--you guessed it--cash. (The raw materials a company owns to make that inventory also falls under this category.)
Long-term assets are things that are harder to convert into cash. (Think real estate and equipment.) Long-term assets depreciate, meaning they lose some value over time. Also under the long-term category are what's called intangible assets: things like patents and brands, that are important, but hard to quantify. Accountants earn their stripes figuring out the real overall value of these assets.
Once you know your assets, it's time for liabilities. As with assets, liabilities are separated into short-term or current, and long-term. Current liabilities are what a company owes in that year: Things like payments to employees or accounts payable to suppliers. Long-term liabilities are debts paid over several years.
Shareholders' equity is determined by subtracting the liabilities from the assets. That number represents the value of the company after all its bills are paid.
Obviously, investors should pay close attention to balance sheets. Spikes in the amount of debt carried, or a reduction in shareholders' equity, are usually red flags.
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Monday, July 07, 2008
Sacre-Coeur Minerals Adds Seven New Target Zones at Million Mountain -Drilling Underway on the New Targets
Comtex
Vancouver, British Columbia CANADA, Jul 07, 2008 (Filing Services Canada via COMTEX) ---- Sacre-Coeur Minerals Ltd. (SCM - TSX Venture, S5N - FWB), (the "Company") is pleased to report that field work conducted along the Million Mountain Trend within its Lower Puruni Regional Block located in Central Guyana, South America has identified at least seven new highly prospective targets for gold mineralization in addition to Zone 1 on the Million Mountain Block. Drilling to date has been in and around the main pit at Zone 1. Each of these new zones is characterized by a silica-rich intrusive body intruded into brittle greenstones. In each of the new target zones, the contact and outwash zones from the topographic highs which represent the more resistant intrusive bodies, are strongly anomalous in gold, both in soil geochemical samples and in stream sediment samples.
This depositional model, which is analogous to that of the Million Mountain Zone 1, upon which an initial NI 43-101 compliant resource estimate is currently being prepared, has long been recognized as a likely trend extending for more than eight kilometres along the Company's Million Mountain block of properties. Intensive field work has now confirmed the existence of these additional intrusive bodies with attendant anomalous gold values. At least two of the identified new targets have surface expressions of anomalous gold that appear to be as much as 10 times larger in aerial extent than the Zone 1 intrusion drilled to date.
The length of the intrusive-greenstone interface is a significant indicator of scale of potential gold mineralization within the region. Gold mineralization in these deposits is zonally controlled along the interface of the intrusive rock with the greenstone host where pressure/temperature conditions favored gold deposition. Drilling on the new zones has now begun and is being conducted by Company employees with one of the Company's Atlas Copco CS14 core drills around the clock with double shifts seven days per week.
These additional new zones in close proximity to each other and Zone 1 are anticipated to be combined for a single project resource for a regional project with a single processing facility. The Company's third party Contractors, Pincock, Allen and Holt, are nearing completion of an initial NI 43-101 compliant interim resource estimate for Million Mountain Zone 1. This report will be issued as an interim report for zone 1, as assays for over twenty drill holes remained outstanding at the cut-off date. Long lag time in return of assays and tight availability of third party geologic modeling time have slowed completion and issuance of the initial report. The Company plans to commission a third party NI 43-101 compliant updated resource estimate in a few months to include the balance of the data for Million Mountain Zone 1 plus results to date on additional zones.
According to Irwin Olian, CEO of the Company, "Discovery of these seven additional zones in the lower Puruni project area near Million Mountain is very exciting, as it greatly enhances the potential for a large regional gold project. While the main pit has thus far proven to be somewhat limited in scope and grade, with the exception of several high-grade shoots, two of the new zones have very expansive surface expressions of anomalous gold and suggest the possibility for large bulk operations. Drilling is now underway on the first of these new targets and we are anxious to receive results shortly."
Assay Data
The Company uses Acme Laboratories for its core sample assays. Samples are prepared at Acme's Georgetown Guyana prep facility. Prepared samples are shipped to Acme's analytical lab in Santiago, Chile for determination. Acme's facilities are ISO certified. Every tenth sample is split and a duplicate sample is shipped to ALS Chemex Vancouver, BC facility for check assay. As well, splits of all samples determined by Acme to be 5 g/t Au or greater are also shipped to ALS Chemex for check assay. The results presented herein are composites of the assay of the coarse metallic fraction (+200 mesh) and the assay for the -200 mesh pulp to produce a total contained gold assay.
The Company uses Loring Laboratories - Guyana, a subsidiary of Loring Laboratories, Ltd. of Calgary Alberta to analyze geo-chem and other field samples. Splits of every 10th sample and splits of all samples returning assay of greater than 5.0 g/t Au are sent to ALS Chemex Vancouver BC facility for check assay. The results presented herein are composites of the assay of the coarse metallic fraction (+200 mesh) and the assay for the -200 mesh pulp to produce a total contained gold assay.
Technical Staff
The Company's exploration program is overseen by Gregory B. Sparks, P. Eng., Senior Vice President Mining and Exploration for the Company. Mr. Luisito Sangalang, P.Geo, Exploration Manager - Guyana, directs all of the Company's programs in Guyana. Mr. Sparks and Mr. Sangalang are Qualified Persons under NI 43-101. The Lower Puruni Region, including Million Mountain, is managed by Mr. Elias Nacario, Chief Geologist Puruni Region. He is assisted by Messrs. Wilmar Ladia, Andrew Cabrera, Carlos Toro-Taylor, and Bjorn Jeune, all Senior Project Geologists. Mr. Ardito Martohardjono, a Director of the Company and laboratory specialist, provides assistance establishing lab protocols and sample handling and assay quality control.
About Sacre-Coeur
The Company is engaged in the acquisition, exploration and development of properties for the potential mining of gold, metals and diamonds in South America, initially focussing on exploration for gold on its properties in Guyana. The Company presently has an interest in approximately 850 square miles of mineral properties in Guyana, including the Million Mountain Property. The Company has offices in Vancouver, Canada and Georgetown, Guyana. More information about the Company is available at www.scminerals.com.
ON BEHALF OF THE BOARD OF DIRECTORS OF
SACRE-COEUR MINERALS, LTD.
"Gregory B. Sparks"
Gregory B. Sparks, P. Eng.
Sr VP Mining & Exploration
For further information, contact:
Irwin Olian, President and CEO
Email: tigertail@scminerals.com
Phone: 604-899-0100
Fax: 604-899-0200
Lee Dunston, Corporate Communications
Email: ldunston@scminerals.com
Phone: 604-899-0100
Fax: 604-899-0200
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of the information contained herein. The statements made in this press release may contain certain forward-looking statements that involve a number of risks and uncertainties. Actual events or results may differ from the Company's expectations.
SACRE-COEUR MINERALS, LTD
Suite 1925, Box 11553
650 West Georgia Street
Vancouver, BC
V6B 4N8
Source: Sacre-Couer Minerals Ltd. (SCM - TSXV) www.scminerals.com
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Ph: (403) 717-3898 Fx: (403) 717-3896 www.usetdas.com
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Copyright (c) 2006 Filing Services Canada Inc.
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