LEXINGTON, Ky., Dec. 9 /PRNewswire-FirstCall/ -- Virtual Health Technologies, Inc. (OTC Bulletin Board: VHGI) and their wholly owned subsidiary VHGI Gold is pleased to announce that Cohen Independent Research Group, Inc., Wall Street's leading independent fundamental research firm, has issued a research report on VHGI with a "buy" recommendation and a long-term target price of $2.48.
Mr. Cohen has been compensated by VHGI for his analysis and distribution of the report; for the full report and more information including complete compensation disclosure please visit Cohen Independent Research Group's Grassroots website www.grassrootsrd.com and access the icon for VirtualHealth Technologies (VHGI Gold's parent company) or simply click http://www.grassrootsrd.com/Document.aspx?report=virtual_health_technology.pdf . The report is also available on VHGI Gold's website, www.vhgigold.com.
"We are pleased to be among the companies covered by Cohen Independent Research Group; we realize that we are a complex entity with operating divisions in both Healthcare technology and Gold Mining," stated Jim Renfro, President, VHGI. "We look forward to updating our shareholders with progress in our mining development plan for the Treasure Gulch Gold Mine as well as appointments to our advisory board in the very near future."
8K Filing With Estimated Value of Reserves and Pro-forma Financials
An 8K has been filed detailing contracted analysis of historical reserves at the Treasure Gulch Gold Mine held under Lease-Purchase Option by VHGI Gold, a wholly owned subsidiary of VHGI. The filing contains an update of the original report entitled "THE TREASURE GULCH AND ZERO MINES", originally prepared for Western Sierra Mining by Gold River Exploration. In addition to this updated analysis, Western Sierra Mining prepared pro forma financial projections relative to VHGI's operation of the Mine assuming the construction of a full scale processing facility onsite.
"At $1200/ oz Au, the report details that total reserves calculate to a gross recoverable value of 45,827 oz of Gold, or $54,992,400.00. Assuming a recovery rate of 92% (typical for a hard rock recovery operation) the extractable value would be $50,593,008. Furthermore, the report estimates an estimate of $ 100 per ton of processed ore, or approximately $200/ ounce Au," stated Jim Renfro, President of VHGI. "Additionally, we are evaluating pro-forma financials for 12 month revenue and income from the construction of a hard rock processing facility for the Treasure Gulch Gold Mine. We are pleased with this initial analysis of the data, and will release further details pending valuation by our staff." For further information please access the complete following on either the SEC website or http://www.vhgigold.com."
More Information Sources
In addition to the analyst report, the company has contracted with http://www.Standoutstocks.com to profile VHGI. The company will also issue alerts via Twitter at www.twitter.com/vhgigold, and press releases will be featured on the main page of http://www.kitco.com, one of the most highly trafficked portals for Gold and Precious Metals News and online Bullion Product sales and purchases .
About Cohen Independent Research Group:
Recently , Cohen Research Group had issued a buy recommendation on American Sierra Gold Corporation, symbol AMNP. Led by Paul Cohen, Cohen Independent Research Group is Wall Street's #1 Independent Research Firm. As founder of Bear Stearns Western Regional Offices, Paul Cohen was one of the original 12 Dirty Dozen analysts, regarded by many to be the top 12 security analysts in the nation. Mr. Cohen was also the West Coast Senior Vice President of CBWL-Hayden Stone-American Express. Mr. Cohen's partners were Sanford I. Weill (past Chairman and CEO of CitiGroup and past Chairman of Solomon Smith Barney) and Arthur Levitt (past Chairman of the Securities and Exchange Commission (SEC)).
Cohen Independent Research Group includes nine PhDs (three with MDs), two MDs, six CFAs (chartered financial analyst), three with CPAs (certified public accountant) and 21 analysts covering most industries. The backbone of the fundamental research targeted at stock investment includes investigative research into significant corporate events, thorough review of SEC filings, in depth financial analysis, valuations, and management profiles. For more information including complete compensation regarding Mr. Cohen's report and recommendation, readers can visit the company's website at www.cohenresearch.com.
About VHGI and VHGI Gold
VHGI is a diverse company with assets and interests focusing on opportunities within the Healthcare Technology Industry and Precious Metals / Energy Resources Markets. VHGI Gold, a wholly owned subsidiary of VHGI has recently initiated steps to leverage the company's operating history and corporate resources within the Gold Mining, Precious Metals and Energy Resources Markets. Although Gold is selling at 25 year high prices and Oil & Gas continue to be trading at significant premiums, global economic events have created significant opportunities within these markets. VHGI intends to pursue these opportunities through Lease-Purchase opportunities, Acquisitions and Joint Ventures for the goal of enhanced shareholder value.
Virtual Health Technologies, Inc. cautions investors that none of the information concerning the valuations of mineral deposits or other data reported above have been verified by outside geologists or other verifiable sources.
"Safe Harbor" Statement:
VHGI cautions investors that none of the information concerning the valuations of mineral deposits or other data reported above has been verified by outside geologists or other verifiable sources beyond representations made to VHGI which ultimately came from the owner of the subject property and their associates. The United States Securities and Exchange Commission permits mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. We use certain terms on this website, such as "reserves," "resources," "geologic resources," "proven," "probable," "measured," "indicated," and "inferred," that the SEC guidelines strictly prohibit us from including in our filings with the SEC.
Under The Private Securities Litigation Reform Act of 1995: The statements in the press release that relate to the company's expectations with regard to the future impact on the company's results from new products in development are "forward-looking statements," within the meaning of the Private Securities Litigation Reform Act of 1995. Since this information may contain statements that involve risk and uncertainties and are subject to change at any time, the company's actual results may differ materially from expected results. This document may contain forward-looking statements concerning the Company's operations, current and future performance and financial condition. These items involve risks and uncertainties such as product demand, market and customer acceptance, the effect of economic conditions, competition, pricing, the ability to consummate and integrate acquisitions, and other risks and uncertainties detailed in the Company's SEC filings. The Company undertakes no obligation to revise any of these statements to reflect the future circumstances or the occurrence of unanticipated events.
For Further Information: Shareholder Relations - Communications 859-514-6982
SOURCE Virtual Health Technologies, Inc.
|SOURCE Virtual Health Technologies, Inc.|
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