Sism research issues update report on ardent mines
New york--(business wire)--(investrend research syndicate) -- ernest c. schlotter, a senior analyst with zurich, switzerland-based sism research and a four star analyst according to starmine, has issued a company update on ardent mines, ltd. (otc: adnt) dated september 12, 2011, which includes an updated analyst's valuation/recommendation. the full report includes important disclosures, disclaimers and analyst information. sism research advise investors to exercise a reasonable degree of due diligence before trading in the equities of any public company, including carefully reading entire analyst reports and report disclosures, and then only in conjunction with advice from a registered financial advisor or broker. sism research further advises that any analyst rating, recommendation, target valuation, price target or opinion should be considered merely a portion of an investor’s total investigative process. a complimentary copy of the report, which includes important disclosures, disclaimers and analyst’s qualifications, is available via the sism research website (at http://www.sism.com/researchreportsardent.htm). according to analyst schlotter’s report: “after acquiring the gold hills project in may 2011, ardent mines commissioned srk consulting (us), a leading international mining consultant company, to prepare a national instrument 43-101 compliant technical report. based on the technical report, released in july 2011, srk assessed that the exploration potential of the company's gold hills project is between 3.6 to 6.0 million tons, with an average gold grade of 4 g/t to 7 g/t, with 10 g/t at intersections in the main vein. this extends over thirteen kilometers, with an average vein thickness of 1.5 m. based on a significant volume of historical work that was conducted on the properties in the 1980s and included the production of gold, srk is of the opinion that the project has merit and warrants additional work to define resources and ultimately, reserves.” “within the last three months, ardent was successful in raising $3.250 million in equity at $3.85 per share, primarily to support the company's current exploration and development plans,” added schlotter. regarding valuation, schlotter reported that “sism research estimates that the gold hills properties contain more than 900,000 ounces of gold, and has a gross value, at today’s market price, of us$1.6 billion. with a 90% discount for development, sism research arrives at a fair market value of $160 million, or $10 per share.” importantly, analyst schlotter also noted, “the commercialization risks associated with mineral exploration and development are high, and we therefore recommend investment in the shares of ardent mines for long-term risk accounts only.” sism research sism research (http://www.sism.com) is a private investment research firm, based in zurich, switzerland, offering independent, fundamental research on public companies since 1995. sism research publishes research on micro- to small-cap companies trading on the otc, nasdaq, amex and tsx stock exchanges. sism research coverage platforms are geared toward institutional and individual investors in both north america and in europe. sism research, as a member-provider of the first research consortium, takes steps to ensure the independence and integrity of sism’s published research that exceed those of the cfa institute code of ethics and standards of professional conduct and the cfa-niri guidelines, by following the exacting “standards for independent research providers”, which are also in accordance with guidance set forth by u.s. securities and exchange commission’s advisory committee on smaller public companies. the investrend research syndicate the investrend research syndicate, a proprietary entity of investrend communications, inc., distributes reports published by sources dedicated to unbiased, reliable analytics and complete transparency. the primary measure for determining those sources is the “standards for independent research providers.” “safe harbor” statement this announcement may contain forward-looking information within the meaning of section 21e of the securities exchange act of 1934, as amended (the "exchange act"), including statements regarding potential sales, the success of the company's business, as well as statements that include the word "believe" or similar expressions. such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of ardent mines ltd. (“ardent mines”), to differ materially from those implied or expressed by such forward-looking statements. such factors include, among others, the risk factors included in reports filed with the sec under the exchange act. this press release speaks as of the date first set forth above and ardent mines‘ management assumes no responsibility to update the information included herein for events occurring after the date hereof. actual results could differ materially from those anticipated due to factors such as the lack of capital, timely development of products and services, inability to deliver products and services when promised, inability of potential customers to pay for ordered products and services, and political and economic risks inherent in international trade. cautionary note to u.s. investors the united states securities and exchange commission permits resource companies, in their filings with the sec, to disclose only proved reserves that a company has demonstrated by actual production or conclusive formation tests to be economically and legally producible under existing economic and operating conditions. we may use certain terms on this press release, such as those related to prospective resources, that the sec's guidelines strictly prohibit us from including in filings with the sec. us investors are urged to consider closely the disclosure in our form 10k. you can also obtain this form from the sec by calling 1-800-sec-0330. additional information may be found at the sec website. disclaimer the otc bulletin board exchange has neither approved nor accepts responsibility for the adequacy or accuracy of the above news release. disclosures sism research has researched and written the above-referenced report without any input, contact, advice, or review from the subject company. any information has been gathered from public sources of information including, but not limited to press releases, company websites, and sec filings. financial market research, inc. ("financial market research") paid sism research ("sism") an initial retainer of six thousand eight hundred and fifty us dollars to resume continuing coverage of ardent mines ltd. (“ardent mines”), and financial market research is under contract and is paying sism an ongoing fee of one thousand eight hundred and fifty us dollars per month over that two-year period to ensure continuation of sism’s independent coverage of ardent mines. sism has paid investrend communications, inc. (“investrend”) a portion of sism's collected fees from financial market research for a “distribution and visibility” program, provided by the investrend research syndicate (div., investrend) in support of sism's ardent mines coverage. no promise of favorable point of view or opinion was or has been made by sism or the analyst(s) writing for sism, to ardent mines or to financial market research. further, it is sism’s policy that neither the firm nor its principals, nor the firm's assigned and/or other writing analyst(s) own or trade shares of any subject companies or subject companies' "competitors". additional information about ardent mines is available via the company’s website (at http://www.ardentmines.com/).
