MissionIR's  Instablog

Platinum Group Metals reported some great news today out of their Waterberg platinum deposit on the Northern arm of the massive Bushveld Igneous Complex in South Africa, as initial metallurgical sample testing comes in on the T2 and F layer zones, with 88% and 83% recovery estimates for platinum-palladium-gold (2PGE+Au), respectively.

This massive deposit, some 10.1M ounces of platinum, palladium, and gold, originally kicked up through exploration efforts involving PLG and its JV partners back in 2011, including notoriously ravenous official Japanese agency JOGMEC (Japan Oil, Gas, and Metals National Corporation, whose mandate is to secure stable supplies of oil, gas, and minerals), is now starting to look seriously juicy. We talk low-hanging fruit in this industry a great deal, driven by the need to meet the demands of shareholder growth and long-term productivity, all while keeping the increasingly complex mining orchestra safe and under budget. That's why getting back initial results like these, in light of the March 18, NI 43-101 Technical Report filed on SEDAR, really grabs people's attention.

We are looking at an Inferred Resource here of 93M tons at 3.39 g/t 2PGE+Au (1.03 g/t Pt, 2.02 g/t Pd, and 0.34 g/t Au) and as we all know grade is king in this business. That drilling they did back in 2011 through the covering Waterberg sedimentary rock package has really paid off big time here, with shrewdly executed geophysical and soil sampling helping to minimize drilling costs while guiding the effort. The company is full of visionaries clearly, since back in 2009 they had the foresight to secure a whopping 85+ square miles on the northern arm of the known, prolific Bushveld via prospecting permits (an idea which started back in 2007). Initial composite results here show 3.24 g/t 2PGE+Au for the F layers and 7.22 g/t 2PGE+Au for the T2 layer, a clear victory for PLG management.

President and CEO of PLG, Michael Jones, who is also a P.Eng with qualified person status for this data burst and a veteran precious metals and PGM evaluator, underscored how the results were expected and have even exceeded expectations handsomely. These findings are crucial for the preliminary economic assessment on the first block at Waterberg and, given the nature of the heavily layered deposit and its typical richness, seeing numbers like these come back across both the T2 and F layers is extremely encouraging.

Jones pointed to a coming resource model update for the assessment focusing on the initial 3.4 miles or so of strike length, setting a target date of around August this year and hinted at diving further into the fifteen and a half miles of yet untested potential up north of the JV during the 2013-2014 window. Investors will want to take a look at the WBJV Project 1 (74% ownership) to the northeast of the JV lands in this context, which is currently under construction and coming along nicely.

Endpoints on the concentrate grades from Waterberg, where drilling continues apace of expectations using 15 machines, will be determined by further testing and circuit optimization, but the microscopic and X-ray diffraction with grinding and scoping flotation (post milling) has shown the market some obvious vectors here. Moreover, the T2 and F material is soft and quite similar in terms of milling characteristics, making milling a snap using a common circuit and giving PLG a leg up cost and beneficiation-wise. We also have some nice secondaries here for copper-nickel, with 87%-83% estimated recovery in the T2 zone (0.11% Ni, 0.05% Cu) and 74%-59% recovery estimated for the F zone (0.10% Ni, 0.24% Cu).

Jones has rigorously reviewed in-depth details on the Waterberg deposit, extensively walked the property, and gone through the report by ISO 9001 accredited, SGS Labs' Head of Geometallurgy, Dr. Nigel Ramlall. Determinations of base metals and other major elements was done by XRF (X-ray fluorescence), with PGE's determined by conventional fire assay and ICP (inductively coupled plasma) finishing.

For more information on Platinum Group Metals, visit www.PlatinumGroupMetals.net

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PITOOEY!, a complete digital marketing agency with proprietary technology, announced that the PITOOEY! Penguin has completed its 50th destination in 50 days! Originally launching March 25 in Washington, D.C., the PITOOEY! Penguin traveled across the United States to raise awareness of PITOOEY!'s innovative, revolutionary app in 50 cities. Yesterday the Penguin made a ceremonial return to the city of its creation, Phoenix.

David Sonkin, President of PITOOEY!, Inc., stated, "The business community and the consumers have responded to the Penguin in a very personal, interactive way. The PITOOEY! App going live in 50 cities, from Seattle to Boston, has been just the start in a new era in communication between consumers and the businesses they love."

Each morning, a new launch city was announced through PITOOEY!'s Twitter, Facebook, and Instagram social media channels. The basic concept of the campaign, "#BuildYourList™," provided an interactive Facebook timeline, along with daily digital postcards, thus creating a "buzz" about each city as the PITOOEY! Penguin launched.

After going live, the company focused heavy social media on that particular city for 24 hours, encouraging users to building their list in advance of the upcoming full launch. Once users logged-on to the PITOOEY! App, they were able to use the "search and subscribe system," to build a customized list of their favorite businesses. This system allows users to receive deals and updates specifically from the businesses in their "List."

"The expansion of PITOOEY! into these 50 markets establishes the personal connection between consumer-to-business in a unique, revolutionary way," Jacob DiMartino, CEO of PITOOEY!, Inc., concluded. "It allows users to customize their lists with the businesses they want to hear from and provides merchants a cost-effective manner in which to market directly to their target consumers. This differs greatly from the current 'daily deals' service models, which targets its customers through the optimization of mobile and digital marketing."

To download the PITOOEY! App, go to http://itun.es/us/ilLxJ.i

For further information, please visit www.PITOOEY.com

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Cardium Therapeutics today presented its financial results for the first quarter ended March 31, 2013, and reported on highlights and other recent developments.

The company narrowed its first-quarter loss to $2.2 million from a net loss of $2.6 million for the comparable three months of 2012.

Sales in the first quarter totaled $599,000, an increase compared to sales of $20,000 reported for the same period in 2012. The company attributes the increase in sales to its To Go Brands health science-based operating unit, which represents roughly 92 percent of total product sales, and sales of the Excellagen advanced wound care product, which represents 8 percent of total product sales.

Research and development costs for the quarter were $762,000, as compared to $1.2 million for the prior year period. Cardium attributes the decrease to lower expenses related to the development of Excellagen, partially offset by increased costs associated with the company's ongoing Generx ASPIRE study.

Cardium also highlighted recent achievements including:

• Awarded ISO 13485 Certification for Excellagen; State of California manufacturing license and state clearances to market and sell Excellagen in the U.S.; and advanced other international registrations for Excellagen, including CE Mark registration, which the company expects to receive approval on or around the end of Q2 2013.
• Signed sales and distribution agreement with Academy Medical, LLC to market, sell and distribute Excellagen to U.S. government medical providers. Excellagen awarded the American Podiatric Medical Association's Seal of Approval for its contributions to better foot health and mobility.
• Presentation at the Symposium on Advanced Wound Care Spring 2013 Meeting highlighting Excellagen's capability of promoting rapid granulation and complete healing in three difficult and complex post-surgical wounds, including Mohs surgery and wound dehiscence.
• Presentation at the 2013 Phacilitate Annual Cell & Gene Therapy Forum in Washington, DC, "Optimizing Phase III Trial Design for Generx® (Ad5FGF-4)."
• Publication of the paper, "Mechanistic, Technical, and Clinical Perspectives in Therapeutic Stimulation of Coronary Collateral Development by Angiogenic Growth Factors," in the April issue of Molecular Therapy publication.
• Expanded To Go Brands® VitaRocks® kids vitamin product line and broadened retail distribution of the newly-designed products into select nationwide Target stores.

For more information visit www.cardiumthx.com

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