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PennyPerformers.com: "Penny Stocks that Perform" picks are: DLKM, FNIX, GSPG, SPNG
(M2 PressWIRE Via Acquire Media NewsEdge)
RDATE:21112008
Pennyperformers.com "Penny Stocks that Perform" picks are: Douglas Lake
Minerals (OTCBB: DLKM.OB / Frankfurt:D60), Fonix Corporation (OTCBB:
FNIX), GoldSpring, Inc. (OTCBB: GSPG), SpongeTech Delivery Systems Inc
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Nov. 21, 2008 -- Douglas Lake Minerals (OTCBB: DLKM.OB / Frankfurt:D60)
announces the company has appointed Dr. Wenqin Zhang, BSc, PhD Geology
and Deputy Chief Director of Tianjin Institute of Geology and Mineral
Resources, to the Board of Directors and Managing Director (DLKM) China.
"We are honoured that Dr. Zhang has agreed to join our board," stated
Harp Sangha, President and CEO. "Having worked in the mining industry
for over 30 years, his depth of geological experience will add
significant value, not to mention prestige to our board. He will bring
sage advice and counsel to continually improving the effectiveness of
our efforts to develop our flagship Tanzanian Mkuvia gold alluvial
project and the ongoing exploration of the large number of mineral
properties the company has assembled."
Harp Sangha also stated, "This strengthens the relationship with our
strategic financing and development partner the Tianjin Institute of
Geology and Mineral Resources. The Institute has proven to be an
invaluable partner, both from the standpoint of providing geological
expertise as well as providing access to the Asian financial community."
Dr. Zhang began his career as a student in the Mining Department of the
University of Qinghai. He subsequently was part of the scholars
exchange programs in Newfoundland and University of British Columbia,
Canada, where he continued his geological studies. From there he went
on to become the Deputy Chief Geologist and Chief Geologist in Earth
Geochemistry Technology at the Institute of Qinghai Province. In 1996,
he was appointed Deputy Chief Geologist, Bureau of Geological
Exploration and Mining Development of Qinghai Province, and in 1999 he
became Director of the Northern China Project Administration. Since
2002, he has been Deputy Chief Director of Tianjin Institute of Geology
and Minerals Research. He is also currently a member of the China
Geochemistry Committee.
The financing consortium led by TIGMR are now significant shareholders
of DLKM representing almost 25% of the outstanding shares. Douglas Lake
has received their $1.5 million initial investment and TIGMR has
presently paid approximately $300,000 of their remaining financial
commitment of $4.5 million to further the development of Tanzanian
operations.
About Tianjin Institute of Geology and Mineral Resources (TIGMR)
TIGMR is a subsidiary of the China Geological Survey, a department of
the Chinese Ministry of Land and Resources. The Institute assists the
Chinese government with special geological projects conducted in China
and throughout the world. TIGMR has achieved numerous earth science
accomplishments and accumulated significant scientific experience
through its findings and related basic studies in Precambrian and
Quaternary Geology, paleobotany and paleontology.
Nov 19, 2008 -- Fonix Corporation (OTCBB: FNIX) announces company
highlights and financial results for the quarter ended September 30,
2008, including for its wholly owned subsidiary, Fonix Speech, Inc.,
which specializes in embedded speech interfaces for mobile devices,
handheld electronic products, video game systems and processors. Third
quarter company highlights include:
-- Fonix enables Apple iPhone 3G for Video Games -- Fonix iSpeak
activated for Apple iPhone 3G -- Due diligence and governmental
approval for the GaozhiSoft acquisition still in process -- Fonix Voice
In controls Ubisoft End War game -- Fonix re-structures debt on balance
sheet
Fonix revenues were $223,000 for the quarter ended September 30, 2008,
compared to $339,000 for the same period in 2007, a decrease of 34%.
Fonix revenues were $1,069,000 for the first nine months of 2008,
compared to $1,344,000 for the same period in 2007, a 19% percent
decrease. Operating expenses decreased 23 percent from $840,000 for the
quarter ended September 30, 2007 to $643,000 for the same period in
2008. Operating expenses decreased 25 percent from $3,229,000 for the
nine-month period ended September 30, 2007 to $2,423,000 for the same
period in 2008.
"Recurring revenues and one-time engineering fees for the year have
decreased due to the slowing global economy," says Roger D. Dudley,
Fonix CEO. "We continue to cut operating costs and expect the current
engineering team to produce new applications that will drive revenue
for the iPhone and video game market. We expect the GaozhiSoft
acquisition will be completed in the 4th quarter, subject to government
approvals, and this transaction will be accretive."
About Fonix
Fonix Corporation, based in Salt Lake City, Utah, currently operates
through its wholly owned subsidiary, Fonix Speech, Inc., an innovative
speech recognition and text-to-speech technology company that provides
value-added speech solutions. Fonix Speech offers voice solutions for
mobile/wireless devices; interactive video games, toys and appliances;
computer telephony systems; the assistive market and automotive
telematics. Fonix Speech provides developers and manufacturers with
cost-effective speech solutions to enhance devices and systems.
Nov 18, 2008 -- GoldSpring, Inc. (OTCBB: GSPG) announced today the
recent assay results from nine drill holes (See table below), which
indicate strong gold mineralization in areas surrounding the known
resource footprint. The drill holes expand the resource area to the
northeast, northwest, east and south. The Company has increased the
number of operating drills from two to four. The two additional drills
will accelerate the Company's infill drilling program at the Hartford
Complex and allow for the continuation of exploration drilling at the
Company's Comstock Lode project.
Commenting on the recent results, GoldSpring's Chief Operating Officer
Jim Golden said, "We continue to receive positive results from our
drilling program, expanding our resource area. The additional drills
will accelerate our timeline to define the deposit."
GoldSpring's recent drill hole assays display the extending
mineralization and show that the deposit requires further drilling
along the margins of the deposit to the northwest, south, and to the
northeast of the drill-defined deposit. The deposit is being drilled
within the known extent to meet requirements for detailed mine
planning. Secondly, drilling has been strategically planned to explore
the immediate extent of mineralization as new geologic data reveals a
larger deposit. The following data shows that the deposit is not fully
defined and indicates GoldSpring should continue drilling to define the
extending boundary of the precious metals mineralization.
Drill Hole I.D. Intercept in Gold Grade Silver Grade Feet General
Collar (ounces per (ounces per Location ton Gold) ton Silver)
58 - 100' East 130'-285' 0.018 0.48 of Known Deposit
59 - 100' East 105'-265' 0.035 0.58 of Known Deposit 300'-315' 0.019
0.07
60 - 200' 275'-335' 0.020 0.18 Northeast of 375'-435' 0.012 0.02 Known
Deposit 665'-685' 0.045 0.08
61 - 200' 0'-15' 0.036 0.96 Northeast of 210'-225' 0.053 0.48 Known
Deposit 240'-310' 0.053 0.84 385'-405' 0.022 0.02
62 - 1200' 100'-120' 0.033 0.56 Northwest of Known Deposit
63 - 1200' 130'-170' 0.030 0.49 Northwest of 300'-315' 0.110 0.69 Known
Deposit
64 - 100' 0'-25' 0.057 0.51 Northwest of 115'-420' 0.044 0.03 Known
Deposit
65 - 200' 0'-50' 0.017 0.11 Northwest of 115'-130' 0.039 0.22 Known
140'-320' 0.025 0.14 Deposit 320'-420' 0.156 0.62 420'-500' 0.024 0.11
66 - 200' 0'-50' 0.014 0.35 Within the 50'-155' 0.057 1.09 Known
Deposit 155'-190' 0.016 0.33
GoldSpring also announced the addition of Larry Martin as Chief
Geologist. Mr. Martin has over thirty years of experience, including
work at the following Nevada gold mines: Sleeper mine, Manhattan mine,
Hog Ranch mine, Borealis mine, and Rawhide mine. Mr. Martin is managing
the geologic engineering supporting the Company's drill program at its
Comstock Lode project.
About GoldSpring, Inc.
GoldSpring, Inc. is a North American precious metals mining company,
focused in Nevada, with extensive, contiguous property in the Comstock
Lode District. Our Company was formed in mid-2003, and we acquired two
properties in the Comstock Lode before the end of the year. We secured
permits, built an infrastructure and brought the exploration project
into test mining production within a year of its acquisition. The
Company, in 2005, began consolidating the Comstock Lode by acquiring
additional properties in the district, expanding our footprint and
creating opportunities for exploration and mining. We are an emerging
company, looking to build on our success through the acquisition of
other mineral properties in the Comstock Lode District with reserves or
exploration potential. The Company's objectives are to increase
reserves through exploration, expand its footprint in the Comstock,
resume mining, optimize its production, and maximize shareholder value.
Nov 21, 2008 -- SpongeTech Delivery Systems Inc (OTCBB: SPNG), a
company which designs, produces and markets reusable cleaning products
for household use, declared on 20 November that the company has
generated new revenues in excess of USD2.7m in sales from its radio
marketing campaign in several major cities across the US, as well as
from the AAPEX Auto Show held in Las Vegas between 4 and 6 November
2008. A The company stated that it recorded total sales of USD5.2m from
the AAPEX Auto Show and recent radio advertising, which more than
doubled the sales revenue announced last week from these marketing
campaigns. In addition,Ait has received an initial order from Ace
Hardware.
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