Boston, MA -- (SBWIRE) -- 09/13/2013 -- At winstonsmallcap.com we focus on undervalued companies trading under $5. Right now the markets are surging and we are seeing an opportunity in micro-cap companies like we have never seen before. Let have a Look on: (Mechel OAO (ADR)(NYSE:MTL), Allied Nevada Gold Corp. (NYSEAMEX:ANV), Fortuna Silver Mines Inc. (NYSE:FSM), AutoNavi Holdings Ltd (ADR) (NASDAQ:AMAP)
Mechel OAO (ADR)(NYSE:MTL) shares decreased 7.42% to $3.62. The company, on August 26, reports its decision to offer free aid to flood victims in Russia's Amur Region. Following a major flood which destroyed numerous residential homes, private gardens and farms, as well as road, communal and social infrastructure, Mechel will send to the affected populace 10,000 tonnes of coal (142 wagons) from its Elga deposit in the Republic of Sakha (Yakutia).
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Allied Nevada Gold Corp. (NYSEAMEX:ANV) shares decreased 7.41% to $4.62. The company on August 20 provides preliminary results for ongoing oxidation test work completed on Hycroft sulfide concentrate, for which the full report is available on Allied Nevada's website. The first phase of testing was completed by an independent consultant in collaboration with Allied Nevada technical staff.
Initial testing indicates that gold and silver recoveries in the mid-80% range from rougher concentrate may be achieved using the ambient pressure alkaline oxidation process.
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Fortuna Silver Mines Inc. (NYSE:FSM) shares dropped 7.20% and closed at $3.74. The company on August 15 report results for twelve additional surface drill holes at the Trinidad North high-grade silver-gold discovery at the San Jose Mine in Mexico. With the exception of drill hole SJO-304, the reported drill holes are generally positioned to define the approximate limits of the Trinidad North ore shoot. The ore shoot remains open to depth and to the north with drilling from underground stations projected to start in early September.
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AutoNavi Holdings Ltd (ADR) (NASDAQ:AMAP) shares fell 7.13% to $14.46. AMAP’s stock has been downgraded by TheStreet Ratings from buy to hold on Sept. 11. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, reasonable valuation levels and solid stock price performance.
Additionally, the company on August 28 announced its unaudited financial results for the second quarter ended June 30, 2013. Net revenues in the second quarter of 2013 were $38.2 million, compared to $40.2 million in the second quarter of 2012. Net income attributable to AutoNavi shareholders was $3.8 million in the second quarter of 2013, compared to $8.8 million in the second quarter of 2012. Non-GAAP net income attributable to AutoNavi shareholders was $6.2 million in the second quarter of 2013, compared to $13.1 million in the second quarter of 2012.
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