Comments
yourfanat wrote: I am using another tool for Oracle developers - dbForge Studio for Oracle. This IDE has lots of usefull features, among them: oracle designer, code competion and formatter, query builder, debugger, profiler, erxport/import, reports and many others. The latest version supports Oracle 12C. More information here.
Cloud Expo on Google News
SYS-CON.TV
Cloud Expo & Virtualization 2009 East
PLATINUM SPONSORS:
IBM
Smarter Business Solutions Through Dynamic Infrastructure
IBM
Smarter Insights: How the CIO Becomes a Hero Again
Microsoft
Windows Azure
GOLD SPONSORS:
Appsense
Why VDI?
CA
Maximizing the Business Value of Virtualization in Enterprise and Cloud Computing Environments
ExactTarget
Messaging in the Cloud - Email, SMS and Voice
Freedom OSS
Stairway to the Cloud
Sun
Sun's Incubation Platform: Helping Startups Serve the Enterprise
POWER PANELS:
Cloud Computing & Enterprise IT: Cost & Operational Benefits
How and Why is a Flexible IT Infrastructure the Key To the Future?
Click For 2008 West
Event Webcasts
Rio Novo Gold Announces Third Quarter 2012 Results and Provides Corporate Update

TORONTO, ONTARIO -- (Marketwire) -- 11/15/12 -- Rio Novo Gold Inc. (TSX:RN)(TSX:RN.WT) ("Rio Novo" or the "Company") has filed its interim operational and financial results for the third quarter ended September 30, 2012. Interim Financial Statements and the accompanying Management's Discussion and Analysis ("MD&A") can be found on SEDAR (www.sedar.com). The Company is pleased to provide a general overview of some important milestones to date on its projects.

During the three months ended September 30, 2012, Rio Novo incurred a net loss of US$ 311,150 (US$0.00 per share) compared to a net loss of US$ 565,890 (US$0.00 per share) in the corresponding period of 2011. Among the factors that contributed to the net loss in the period were a gain of US$ $207,844, attributed to differences in foreign exchange due to US dollar, Brazilian real and Colombian peso exchange rate fluctuations, and interest income and other income decreases of US$ $806,049. The net loss also reflected the gain on share purchase warrant revaluation of US$ 251,644, attributed to the fair market value warrant adjustment on September 30, 2012.

As at September 30, 2012, the Company had working capital of US$ 9,198,315 and a net cash position of $10,033,642.

Rio Novo Third Quarter Corporate Highlights

Highlights for the quarter ending September 30, 2012 included:


--  A new discovery is emerging NW of the Vira Saia deposit at the Almas
    Gold Project ("Almas"). First pass drilling and modeling indicate a
    continuous zone of gold mineralization which could add to the overall
    resource at Almas. 

--  At the Morro do Carneiro East target, part of the Almas project, a large
    gold anomaly in banded iron formation (BIF) has been identified NE of
    the town of Almas. 

--  Exploration works continue to advance at the Matupa target at the
    Guaranta Gold Project, including the discovery of a new prospect, MP8,
    in the SE part of the district. 

--  Channel sampling at the Matupa MP2 prospect returned up to 12m at 2.5
    g/t Au. 

--  First pass drilling and bulk sampling were completed on the Toldafria
    Gold Project. 
    

Subsequent Rio Novo Corporate Events

Subsequent to the quarter ending September 30, 2012, the following events took place:


--  Rio Novo completed a positive definitive Feasibility Study ("FS") of its
    100%-owned Almas project, located in Tocantins State, Brazil. The NI 43-
    101 compliant FS confirms a technically feasible and economically robust
    project, with Proven & Probable Reserves of 763,940 ounces of gold,
    based on a gold price of US$1,350 per ounce. The Project is expected to
    yield a base case, after-tax, 5.0% net present value ("NPV") of $131.2
    million and an internal rate of return ("IRR") of 22.1%, using assumed
    flat LOM gold price of $1,450.00 per ounce. Using prevailing commodity
    prices of $1,700/oz gold, the after-tax NPV 5% and IRR increase to
    $233.0 million and 34.2%, respectively. The results of the FS were
    presented to Rio Novo's Board of Directors and unanimously approved. The
    construction of the Almas project is now subject to the successful
    arrangement of project financing. 

--  Rio Novo promoted three new officers to the Company; Vitor Hugo Belo as
    Senior Vice-President, Construction, Sol Tomich, Vice-President,
    Corporate Responsibility and Jose Luiz Rangel, Vice-President,
    Controller & Treasurer. 
    

Almas Gold Project

During third quarter of 2012, Rio Novo focused efforts on generative and early stage exploration at Almas, as well as final resource modeling on the Almas Gold Project. There was no exploration drilling during the quarter at Almas, but as of the year-to-date 2012, 9,586 meters have been drilled, 586 meters more than originally planned. A total of 4,351 meters of trenching were completed during the quarter and Year-to-date 2012, the Company has completed 7,584 meters of trenching versus the planned 2,500 meters. The increase in trenching versus the plan represents an increased focus in developing the next generation of advanced targets at Almas. As the FS for the Almas Gold Project has been completed and is positive, Rio Novo has shifted its exploration strategy at Almas to focus on discovering new, higher grade resources close to proposed infrastructure.

Guaranta Gold Project

During the quarter, Rio Novo focused all exploration efforts in the Guaranta area at Matupa. The Company continued early stage exploration on the property, consisting of mapping, geochemistry and topographic surveying. A topographic survey was completed over lines of soil geochemistry and proposed future geophysics. Topographic surveying was also completed over the MP2 target for resource modeling purposes. Mapping was completed over the entire Matupa project mainly as confirmation mapping of former Rio Tinto and Western Mining work. Detailed mapping of the main prospect MP2 was initiated. Soil sampling was completed over eight targets on the property. This sampling included validation of former Rio Tinto and Western Mining work. The mapping and soil sampling has now clearly outlined eight targets at Matupa, including a new anomaly discovered on the southeast part of the project, MP8.

During the quarter, Rio Novo initiated channel sampling of exposed areas, including both major outcrops and garimpo artisanal mine workings. Excellent results were received from four channel samples at the MP2 prospect:


--  12m @ 2.49g/t Au 
--  11.7m @ 2.66g/t Au 
--  2.8m @ 4.61g/t Au 
--  6.50m @ 1.45g/t Au 
    

Toldafria Gold Project

During the third quarter of 2012, Rio Novo completed an exploration program at the Toldafria Gold Project ("Toldafria"), consisting of a first-pass drilling program and a complementary bulk sampling program. The drilling program consisted of 16 drill holes totaling 5,145m. The drilling intersected broad zones of low-grade gold mineralization with a core of high-grade veins. These gold zones generally exhibit a wide area (10m to 70m) of lower grade veinlet mineralization running from 0.3 g/t to 0.7 g/t Au, with internal higher grade veins assaying from 5.0 g/t Au to 36 g/t Au in some areas. Although the drilling cut through the structures projected from underground workings, the high-grade nature of much of the tunnel sampling was only intermittently replicated in the drilling program.

Qualified Person

Mr. Brian Arkell, Senior Vice President of Exploration at Rio Novo Gold Inc., is a Qualified Person, as defined by Canadian National Instrument 43-101, and has reviewed and approved the geological and exploration information contained in this release.

About Rio Novo

Rio Novo is focused on the acquisition, exploration and development of gold properties in Brazil and Colombia. The Company has Measured & Indicated resources of 1,191,252 oz and 1,464,831 Inferred oz of gold at two projects in Brazil (Almas and Guaranta Gold Projects) and one in Colombia (Toldafria Gold Project).

The Company's short-term goal is to become a producer of gold by bringing the Almas Gold Project, located in the State of Tocantins, into production in 2014. The Almas Project enjoys both established infrastructure, main grid hydropower in a proven and mining friendly jurisdiction and is permitted for construction.

This press release contains forward-looking statements. All statements, other than of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future (including, without limitation, statements regarding the estimation of mineral resources, exploration results, potential mineralization, potential mineral resources and mineral reserves) are forward-looking statements. Forward-looking statements are often identifiable by the use of words such as "anticipate", "believe", "plan", may", "could", "would", "might" or "will", "estimates", "expect", "intend", "budget", "scheduled", "forecasts" and similar expressions or variations (including negative variations) of such words and phrases. Forward-looking statements are subject to a number of risks and uncertainties, many of which differ materially from those discussed in the forward-looking statements. Factors that could cause actual results or events to differ materially from current expectations include, among other things, without limitation, failure to establish estimated mineral resources, the possibility that future exploration results will not be consistent with the Company's expectations, the price of gold and other risks identified in the Company's most recent annual information form filed with the Canadian securities regulatory authorities on SEDAR.com. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statements.

Contacts:
Rio Novo Gold Inc.
Julio Carvalho
President & CEO
+55 (21) 3956-5025
julio.carvalho@Rnovogold.com

Rio Novo Gold Inc.
Brian Arkell
SVP Exploration & Corporate Development
+1 (720) 883-7338
brian.arkell@Rnovogold.com

Rio Novo Gold Inc.
Alex Penha
General Manager, Corporate Development
+1 (416) 509-0583
alex.penha@Rnovogold.com

About Marketwired .
Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Cloud Developer Stories
ScriptRock makes GuardRail, a DevOps-ready platform for configuration monitoring. Realizing we were spending way too much time digging up, cataloguing, and tracking machine configurations, we began writing our own scripts and tools to handle what is normally an enormous chore...
SYS-CON Media announced today that Sematext launched a popular blog feed on DevOps Journal with over 6,000 story reads over the weekend. DevOps Journal is focused on this critical enterprise IT topic in the world of cloud computing. DevOps Journal brings valuable information t...
In high-production environments where release cycles are measured in hours or minutes — not days or weeks — there's little room for mistakes and no room for confusion. Everyone has to understand what's happening, in real time, and have the means to do whatever is necessary to kee...
"Our premise is Docker is not enough. That's not a bad thing - we actually love Docker. At ActiveState all our products are based on open source technology and Docker is an up-and-coming piece of open source technology," explained Bart Copeland, President & CEO of ActiveState Sof...
The Internet of Things is not new. Historically, smart businesses have used its basic concept of leveraging data to drive better decision making and have capitalized on those insights to realize additional revenue opportunities. So, what has changed to make the Internet of Things...
Subscribe to the World's Most Powerful Newsletters
Subscribe to Our Rss Feeds & Get Your SYS-CON News Live!
Click to Add our RSS Feeds to the Service of Your Choice:
Google Reader or Homepage Add to My Yahoo! Subscribe with Bloglines Subscribe in NewsGator Online
myFeedster Add to My AOL Subscribe in Rojo Add 'Hugg' to Newsburst from CNET News.com Kinja Digest View Additional SYS-CON Feeds
Publish Your Article! Please send it to editorial(at)sys-con.com!

Advertise on this site! Contact advertising(at)sys-con.com! 201 802-3021



SYS-CON Featured Whitepapers
ADS BY GOOGLE