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Encounter Technologies Releases On-Line Video Editor, Site Upgrades and Contest Links
Encounter Technologies Releases On-Line Video Editor, Site Upgrades and Contest Links
Music Matrix Finalizes Preparations for Site Launch and Upcoming Music Video Promotions
Nov. 2, 2010 (GlobeNewswire) --
NEW YORK, Nov. 2, 2010 (GLOBE NEWSWIRE) -- Encounter Technologies, Inc. (Pink Sheets:ENTI) raises the bar for on-line editing on its flagship site, MusicMatrix.com, with the release of a new, on-line editor which appeals to beginners and professionals. With improved design and added features, premium users can create astonishing masterpieces in minutes. The editing tools can now be easily accessed with the new "Edit Room" button and sidebar.
"Music Matrix will engage audiences with on-line video editing," states Encounter Technologies CEO, Anthony DiBiase. "We wanted to enhance the editing functions since this is a key component for our site. Our premium users don't just get to watch videos, they interact, create and share. The new, on-line editor takes the Music Matrix experience to the next level."
The best-in industry, editing system includes the following progressive features:
Webcam and Voice Over: Capture video and audio directly from webcam or microphone to create a personal, digital greeting, audio narration or voice over.
Slow Motion Effects: Create amazing effects including slow motion and variable playback speed. Slow down a clip for heightened drama or speed it up for an animated effect.
Green Screen: Superimpose anything or anyone into a shot. Utilize this exciting technology to create dramatic effects as seen in Hollywood movies.
Customize and Colorize:
Modify and colorize video clips and images. Choose from a wide selection of tools to lighten images, change the color or add film grain.
In addition, Music Matrix has made dramatic site upgrades. New, dynamic graphics and links highlight the upcoming interactive music video contests. To simplify navigation, the site features new buttons on the top and bottom of the screen including "Tutorial", "Social Network" and "Press Room". Creative content will be added to build on these categories. To improve the music video experience, a "Currently Viewed" section is now available on the home page. Music Matrix also completed the site re-encoding process to move forward with the mobile phone application.
Music Matrix is gearing up for the launch of its site in the coming days followed by the interactive music video promotions. Per the request of the artists, the contests will be initiated at specific times to capitalize on their respective album and song releases. In conjunction with the Britto Agency (www.thebrittoagency.com), these contests will be strategically launched with expansive media and publicity campaigns.
About Encounter Technologies (ENTI)
Encounter Technologies, Inc. provides end-to-end technology and online marketing services, including design, build, hosting and online marketing support. We specialize in social media, video technology and online entertainment web solutions. Encounter Technologies, Inc. utilizes pre-built applications to provide the platforms in which to base solutions for businesses looking to utilize video technology to increase online collaboration and interaction. Our goal is to provide our clients with the best methods to increase user value and achieve desired business results. Simply put, Encounter Technologies, Inc. transforms ideas into revenues. For more information about Encounter Technologies, Inc. visit www.encountertech.com
About MusicMatrix.com
On MusicMatrix.com, users are able to participate in music video editing competitions in order to win both prizes and recognition. Encounter Technologies, Inc. (ENTI) has developed a cutting edge, innovative, and simple to use platform for MusicMatrix.com, which facilitates the video uploading, editing, sharing, and viewing experiences. By creating an environment which rewards both innovation and creativity, users are given the incentive to implement their own unique online marketing campaigns in order to expose a particular artist or song to populations and demographics not typically reached through standard mass campaigns.
This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events or results to differ materially from those projected in the forward-looking statements as a result of various factors and other risks. You should consider these factors in evaluating the forward-looking statements included herein, and not place under reliance on such statements. The forward-looking statements in this release are made as of the date hereof and Encounter Technologies, Inc. under take no obligation to update such statements.
Copyright 2009 eTeligis.com All Rights reserved.
SOURCE: Encounter Technologies, Inc.
Sheri Cook, Marketing Representative, Encounter Technologies, Inc.
CONTACT: Gerrard Hollister Investor Relations+1 (310) 909-7988IR@GerrardHollister.com
Source: Globe Newswire (November 2, 2010 - 10:59 AM EDT)
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Paul Mueller Company Announces Retirement of CFO and Elects New Chairman of the Board
Paul Mueller Company Announces Retirement of CFO and Elects New Chairman of the Board
Nov. 2, 2010 (GlobeNewswire) --
SPRINGFIELD, Mo., Nov. 2, 2010 (GLOBE NEWSWIRE) -- Paul Mueller Company (Pink Sheets:MUEL) announces today that Donald E. Golik, Executive Vice President and CFO, has informed the company of his intentions to retire effective May 31, 2011, after more than 31 years of service. Mr. Golik has been Chief Financial Officer during his tenure with the company, and a member of the Board of Directors since 1982. Mr. Golik is committed to a smooth and orderly transition, and is actively participating in the search for his replacement. Mr. Golik has also stepped down effective October 28, 2010 as Chairman of the Board but will remain a member of the Board of Directors.
Matt Detelich, President and Chief Executive Officer of Paul Mueller Company, stated, "On behalf of our Board of Directors and the entire Paul Mueller Company team, I want to express our sincere thanks to Don for his long and distinguished service as CFO. We look forward to continuing our work with him on the Board of Directors."
William R. Patterson, current Executive Committee Chairman and former Chairman of the Board (January 2004 through October 2005), was elected Chairman of the Board at the regular board meeting held October 28, 2010. Mr. Patterson has extensive experience on boards of various publicly held companies and has been a member of the Board of Directors since 1997.
Paul Mueller Company manufactures stainless steel equipment and performs onsite construction and repair/maintenance worldwide on dairy farms and in a wide variety of industrial applications, including food, dairy and beverage processing; pharmaceutical, biotechnological, and chemical processing; water distillation; heat transfer; HVAC; heat recovery; process cooling; and thermal energy storage.
**********************************
This press release contains forward-looking statements that provide current expectations of future events based on certain assumptions. All statements regarding future performance growth, conditions or developments are forward-looking statements. Actual future results may differ materially from those described in the forward-looking statements due to a variety of factors, including but not limited to the factors described on page 33 of the Company's 2009 Annual report. The Company expressly disclaims any obligation or undertaking to update these forward-looking statements to reflect any future events or circumstances.
CONTACT: Paul Mueller Company
Michael W. Young, Director of Human Resource
(417) 831-3000
Springfield, Missouri
Source: Globe Newswire (November 2, 2010 - 10:01 AM EDT)
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Trevali Significantly Increases Resources at Santander Zinc-Lead-Silver Project in Peru
Trevali Significantly Increases Resources at Santander Zinc-Lead-Silver Project in Peru
Indicated Tonnage +53%, Inferred +452% at 3% ZnEQ(i) Cut-Off
Deposits Remain Open for Expansion
VANCOUVER, BRITISH COLUMBIA, Nov. 2, 2010 (Marketwire) -- Trevali Resources Corp. ("Trevali" or the "Company") (TSX:TV)(PINK SHEETS:TREVF)(FRANKFURT:4TI) is pleased to announce the results of its November 2010 mineral resource estimate update for the Santander zinc-lead-silver mine project in west-central Peru (Table 1: http://media3.marketwire.com/docs/tv-tbl1.pdf and Figure 1: http://media3.marketwire.com/docs/tvfig1.pdf).
- Indicated Mineral Resource of 5.858 million tonnes with an average grade of 3.86% zinc, 1.35% lead, 44 g/t silver and 0.08% copper for an estimated in-situ metal inventory of 498 million lbs. zinc, 174 million lbs. lead, 8.25 million oz. silver and 9.7 million lbs. copper at 3% ZnEQ(i) cut-off.
- Inferred Mineral Resource of 4.806 million tonnes grading 5.08% zinc, 0.44% lead, 21 g/t silver and 0.07% copper for an estimated in-situ metal inventory of 538 million lbs. zinc, 46 million lbs. lead, 3.19 million oz. silver and 7.8 million lbs. copper at a 3% ZnEQ(i) cut-off.
- Mineralization remains open for expansion in all five deposits identified to date - Magistral North, Central and South, Puajanca South and the Santander Pipe (Figure 2: http://media3.marketwire.com/docs/tv-fig2.pdf).
The updated resource estimate is based on 171 diamond drill holes (with a combined length of approx. 33,240 metres). The resource estimate was conducted by and under the supervision of Kevin Palmer P.Geo., an independent qualified person and Senior Resource Geologist at Golder Associates Ltd. of Burnaby, Canada and utilized a 3% ZnEQ(i) cut-off grade - which is the nominal base case estimated grade of material that can be mined and processed considering all applicable costs.
ADDITIONAL HIGHLIGHTS
-- Significant increases in contained in-situ metal in all resource categories - Indicated: Zn (lbs) +51%; Pb (lbs) +41%; Ag (oz) +49% -- Inferred: Zn (lbs) +605%; Pb (lbs) +216%; Ag (oz) +488% at the 3% ZnEQ(i) cut-off grade. -- Discovery costs of approximately US$0.004 per in-situ pound of base metal excluding silver. -- Identification and independent confirmation of very significant upside remaining in the historic Santander Mine - inferred resources of 3.321 million tonnes returning 5.78% Zn, 0.01% Pb, 0.08% Cu and 16 g/t Ag.
To view "Table 1: November 2010 Indicated and Inferred Mineral Resources (capped) at Santander Project", please visit: http://media3.marketwire.com/docs/tv-tbl1.pdf.
"The resource estimate greatly increases the size of Santander and highlights the growing potential of the Company's flagship project," stated Dr. Mark Cruise, President and Chief Executive Officer of the Company. "Given the anticipated compressed time-frame to production we are well poised to benefit from forecast base metal, and in particular zinc, price increases going forward due to increasing global demand coupled with the slated closure of several marquee mines worldwide."
A comparison of the maiden 2009 Resource estimate and the latest November 2010 Resource estimate is tabulated below (Table 2). A break-down of the resource estimate by deposit is documented in Table 3.
(i)ZnEQ equals ((Ag Price(g) x Ag Recovery x Ag Grade) + (Pb Price(t) x Pb Recovery x (Pb Grade(%)/100)+(Zn Price(t) x Zn Recovery x (Zn Grade(%)/100)))/Zn Price(t). Golder utilized the three year rolling average price for all three metals. Price for silver is ($14.90/oz) and that for Pb ($2,174), Zn ($2,079) and Cu ($6,504) is per tonne. A recovery of 85% was applied to Ag, 90% for Pb, 85% for Zn and 60% for Cu for calculating the ZnEQ formula. The pounds metal are in-situ and have not had any mining factors applied to them.
The mineral resources identified in Table 1 are based on Ordinary Kriged (OK) capped values. Capping of samples has been applied in order to reduce the effect of high grade sample outliers. The resource block model was generated using Datamine Studio 3 software and utilized a parent block-size of 10m (x) by 10m (y) by 5m (z) based primarily on drill-hole spacing.
To view "Table 2: Comparison of March 2009 and November 2010 Resource Estimates", please visit: http://media3.marketwire.com/docs/tv-tbl2.pdf.
To view "Table 3: November 2010 Resources by deposit", please visit: http://media3.marketwire.com/docs/tv-tbl3.pdf.
SANTANDER PROJECT
The Santander zinc-lead-silver mine project is located approximately 215 km by road from Lima, in the western extent of Peru's Central Polymetallic Belt. Site infrastructure includes a fully refurbished 200-man camp and the Tingo hydroelectric power-station located 17 km down-valley to the west. The Company commenced exploration at Santander in November 2007 discovering four new high-grade silver-lead-zinc replacement and massive sulphide bodies to date. Mineralization remains open in all three Magistral Deposits, the Puajanca South Deposit and the past-producing Santander Pipe, and numerous high-priority targets remain to be tested.
To view "Figure 2: Trevali's 44km2 Santander silver-lead- zinc mine project in west-central Peru", please visit the following link: http://media3.marketwire.com/docs/TVfig2.pdf
Qualified Person and Quality Control/Quality Assurance
EurGeol Dr. Mark D. Cruise, Trevali's President and CEO and a qualified person as defined by National Instrument 43-101, has supervised the preparation of the scientific and technical information that forms the basis for this news release. Dr. Cruise is not independent of the Company, as he is an officer and shareholder.
The work programs at Santander were designed by, and are supervised by, Mark D. Cruise, President & CEO, Trevali, and Tim Kingsley (Senior Geologist), who together are responsible for all aspects of the work, including the quality control/quality assurance program. On-site personnel at the project rigorously collect and track samples which are then security sealed and shipped to ACME Laboratories, Vancouver, for assay. ACME's quality system complies with the requirements for the International Standards ISO 9001:2000 and ISO 17025: 1999. Analytical accuracy and precision are monitored by the analysis of reagent blanks, reference material and replicate samples. Quality control is further assured by the use of international and in-house standards. Blind certified reference material is inserted at regular intervals into the sample sequence by Trevali personnel in order to independently assess analytical accuracy. Finally, representative blind duplicate samples are routinely forwarded to ACME and an ISO compliant third party laboratory for additional quality control.
ABOUT TREVALI RESOURCES CORP.
The Company in conjunction with its partner, Glencore International A.G., has entered into a definitive development agreement for the Santander silver-lead-zinc project in west-central Peru that will see Glencore provide and operate on the property, a 2,000-tonne-per-day concentrate plant, undertake mining operations on a 'contractor/toll basis' and enter into a long-term concentrate offtake agreement with the Company for 100% of the Santander project's production at benchmark terms.
Additionally, through its wholly owned subsidiary Trevali Renewable Energy Inc., the Company is undertaking a significant upgrade of the Tingo run-of-river hydroelectric generating facility along with transmission line upgrades and extensions to allow, in addition to supplying power to the mining operation on the property, the potential sale of surplus power into the Peruvian National Energy Grid.
The common shares of the Company are currently listed on the TSX (symbol TV). For further details on the Company, readers are referred to the Company's web site (www.trevali.com) and to Canadian regulatory filings on SEDAR at www.sedar.com.
On Behalf of the Board of Directors of TREVALI RESOURCES CORP.
Mark D. Cruise, President
THIS NEWS RELEASE CONTAINS "FORWARD-LOOKING STATEMENTS" WITHIN THE MEANING OF THE UNITED STATES PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995 AND "FORWARD-LOOKING INFORMATION" WITHIN THE MEANING OF APPLICABLE CANADIAN SECURITIES LEGISLATION. STATEMENTS CONTAINING FORWARD-LOOKING INFORMATION EXPRESS, AS AT THE DATE OF THIS NEWS RELEASE, THE COMPANY'S PLANS, ESTIMATES, FORECASTS, PROJECTIONS, EXPECTATIONS, OR BELIEFS AS TO FUTURE EVENTS OR RESULTS AND THE COMPANY DOES NOT INTEND, AND DOES NOT ASSUME ANY OBLIGATION TO, UPDATE SUCH STATEMENTS CONTAINING THE FORWARD-LOOKING INFORMATION. SUCH FORWARD-LOOKING STATEMENTS AND INFORMATION INCLUDE, BUT ARE NOT LIMITED TO STATEMENTS AS TO: THE ACCURACY OF ESTIMATED MINERAL RESERVES AND RESOURCES, ANTICIPATED RESULTS OF FUTURE EXPLORATION, AND FORECAST FUTURE METAL PRICES, ANTICIPATED RESULTS OF FUTURE ELECTRICAL SALES AND EXPECTATIONS THAT ENVIRONMENTAL, PERMITTING, LEGAL, TITLE, TAXATION, SOCIO-ECONOMIC, POLITICAL, MARKETING OR OTHER ISSUES WILL NOT MATERIALLY AFFECT ESTIMATES OF MINERAL RESERVES. THESE STATEMENTS REFLECT THE COMPANY'S CURRENT VIEWS WITH RESPECT TO FUTURE EVENTS AND ARE NECESSARILY BASED UPON A NUMBER OF ASSUMPTIONS AND ESTIMATES THAT, WHILE CONSIDERED REASONABLE BY THE COMPANY, ARE INHERENTLY SUBJECT TO SIGNIFICANT BUSINESS, ECONOMIC, COMPETITIVE, POLITICAL AND SOCIAL UNCERTAINTIES AND CONTINGENCIES.
THESE STATEMENTS REFLECT THE COMPANY'S CURRENT VIEWS WITH RESPECT TO FUTURE EVENTS AND ARE NECESSARILY BASED UPON A NUMBER OF ASSUMPTIONS AND ESTIMATES THAT, WHILE CONSIDERED REASONABLE BY THE COMPANY, ARE INHERENTLY SUBJECT TO SIGNIFICANT BUSINESS, ECONOMIC, COMPETITIVE, POLITICAL AND SOCIAL UNCERTAINTIES AND CONTINGENCIES. MANY FACTORS, BOTH KNOWN AND UNKNOWN, COULD CAUSE ACTUAL RESULTS, PERFORMANCE OR ACHIEVEMENTS TO BE MATERIALLY DIFFERENT FROM THE RESULTS, PERFORMANCE OR ACHIEVEMENTS THAT ARE OR MAY BE EXPRESSED OR IMPLIED BY SUCH FORWARD-LOOKING STATEMENTS CONTAINED IN THIS NEWS RELEASE AND THE COMPANY HAS MADE ASSUMPTIONS AND ESTIMATES BASED ON OR RELATED TO MANY OF THESE FACTORS.
SUCH FACTORS INCLUDE, WITHOUT LIMITATION: FLUCTUATIONS IN SPOT AND FORWARD MARKETS FOR SILVER, ZINC, BASE METALS AND CERTAIN OTHER COMMODITIES (SUCH AS NATURAL GAS, FUEL OIL AND ELECTRICITY); FLUCTUATIONS IN CURRENCY MARKETS (SUCH AS THE PERUVIAN SOL VERSUS THE U.S. DOLLAR); RISKS RELATED TO THE TECHNOLOGICAL AND OPERATIONAL NATURE OF THE COMPANY'S BUSINESS; CHANGES IN NATIONAL AND LOCAL GOVERNMENT, LEGISLATION, TAXATION, CONTROLS OR REGULATIONS AND POLITICAL OR ECONOMIC DEVELOPMENTS IN CANADA, THE UNITED STATES, PERU OR OTHER COUNTRIES WHERE THE COMPANY MAY CARRY ON BUSINESS IN THE FUTURE; RISKS AND HAZARDS ASSOCIATED WITH THE BUSINESS OF MINERAL EXPLORATION, DEVELOPMENT AND MINING (INCLUDING ENVIRONMENTAL HAZARDS, INDUSTRIAL ACCIDENTS, UNUSUAL OR UNEXPECTED GEOLOGICAL OR STRUCTURAL FORMATIONS, PRESSURES, CAVE-INS AND FLOODING); RISKS RELATING TO THE CREDIT WORTHINESS OR FINANCIAL CONDITION OF SUPPLIERS, REFINERS AND OTHER PARTIES WITH WHOM THE COMPANY DOES BUSINESS; INADEQUATE INSURANCE, OR INABILITY TO OBTAIN INSURANCE, TO COVER THESE RISKS AND HAZARDS; EMPLOYEE RELATIONS; RELATIONSHIPS WITH AND CLAIMS BY LOCAL COMMUNITIES AND INDIGENOUS POPULATIONS; AVAILABILITY AND INCREASING COSTS ASSOCIATED WITH MINING INPUTS AND LABOUR; THE SPECULATIVE NATURE OF MINERAL EXPLORATION AND DEVELOPMENT,INCLUDING THE RISKS OF OBTAINING NECESSARY LICENSES AND PERMITS AND THE PRESENCE OF LAWS AND REGULATIONS THAT MAY IMPOSE RESTRICTIONS ON MINING,; DIMINISHING QUANTITIES OR GRADES OF MINERAL RESERVES AS PROPERTIES ARE MINED; GLOBAL FINANCIAL CONDITIONS; BUSINESS OPPORTUNITIES THAT MAY BE PRESENTED TO, OR PURSUED BY, THE COMPANY; THE COMPANY'S ABILITY TO COMPLETE AND SUCCESSFULLY INTEGRATE ACQUISITIONS AND TO MITIGATE OTHER BUSINESS COMBINATION RISKS; CHALLENGES TO, OR DIFFICULTY IN MAINTAINING, THE COMPANY'S TITLE TO PROPERTIES AND CONTINUED OWNERSHIP THEREOF; THE ACTUAL RESULTS OF CURRENT EXPLORATION ACTIVITIES, CONCLUSIONS OF ECONOMIC EVALUATIONS, AND CHANGES IN PROJECT PARAMETERS TO DEAL WITH UNANTICIPATED ECONOMIC OR OTHER FACTORS; INCREASED COMPETITION IN THE MINING INDUSTRY FOR PROPERTIES, EQUIPMENT, QUALIFIED PERSONNEL, AND THEIR COSTS. INVESTORS ARE CAUTIONED AGAINST ATTRIBUTING UNDUE CERTAINTY OR RELIANCE ON FORWARD-LOOKING STATEMENTS. ALTHOUGH THE COMPANY HAS ATTEMPTED TO IDENTIFY IMPORTANT FACTORS THAT COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY, THERE MAY BE OTHER FACTORS THAT CAUSE RESULTS NOT TO BE AS ANTICIPATED, ESTIMATED, DESCRIBED OR INTENDED. THE COMPANY DOES NOT INTEND, AND DOES NOT ASSUME ANY OBLIGATION, TO UPDATE THESE FORWARD-LOOKING STATEMENTS OR INFORMATION TO REFLECT CHANGES IN ASSUMPTIONS OR CHANGES IN CIRCUMSTANCES OR ANY OTHER EVENTS AFFECTING SUCH STATEMENTS OR INFORMATION, OTHER THAN AS REQUIRED BY APPLICABLE LAW.
Trevali Resources Corp. Manager - Corporate Communications (604) 488-1661 (604) 408-7499 (FAX) sstakiw@trevali.com www.trevali.com
Source: Marketwire Canada (November 2, 2010 - 10:00 AM EDT)
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American Bonanza Selects Miner for the Copperstone Gold Mine
American Bonanza Selects Miner for the Copperstone Gold Mine
VANCOUVER, BRITISH COLUMBIA, Nov. 2, 2010 (Marketwire) -- American Bonanza Gold Corp. (TSX:BZA)(PINK SHEETS:ABGFF)(FRANKFURT:AB2) ("Bonanza") is pleased to report the selection of Mining and Environmental Services LLC ("MES"), of Idaho Springs, Colorado, to conduct contract mining at the wholly owned Copperstone gold mine in Arizona. MES will mobilize upon the execution of a final contract and receipt of the final state permits to start pre-development mining activities, including rehabilitation of the existing decline and the development of the initial high grade stopes.
MES has been a successful mining contractor for 15 years and has been the construction contractor or construction project manager for mine, tunnel and mill rehabilitation, mine development, special projects, and closure or cleanup work at over 150 sites in the western United States. MES's underground contracting and mine service projects include work for several major mining companies and numerous governmental and private entities.
Brian Kirwin, President and CEO, stated, "MES brings to Bonanza the right mix of size and personnel to help make the Copperstone gold mine a success. Their creative ideas and experience in mining will enhance our ability to develop Copperstone into a very profitable mining operation. MES also maintains high safety and performance standards - very important considerations for Bonanza."
About Bonanza
Bonanza is working to re-activate mining at the preproduction-stage Copperstone gold mine in Arizona. Bonanza has 129 million shares outstanding, and has no debt. For more information please visit Bonanza's website at www.americanbonanza.com.
AMERICAN BONANZA GOLD CORP.
Brian Kirwin, President & Chief Executive Officer
This news release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, including the likelihood of commercial mining and possible future financings are forward-looking statements. Although Bonanza believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include unsuccessful exploration results, changes in the price of gold, changes in the availability of funding for mineral exploration and/or development, unanticipated changes in key management personnel and general economic conditions. Mining exploration and development is an inherently risky business. Accordingly the actual events may differ materially from those projected in the forward-looking statements. For more information on Bonanza and the risks and challenges of its business, investors should review Bonanza's annual filing on Form 20-F with the U. S. Securities Commission and its home jurisdiction filings that are available at www.sedar.com.
American Bonanza Gold Corp. 1-877-688-7523 info@americanbonanza.com www.americanbonanza.com
Source: Marketwire Canada (November 2, 2010 - 9:32 AM EDT)
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Golden Goliath Resources Ltd.: New Discovery of Orito Zone Significantly Expands Near Surface Gold-Silver Mineralization Through Recent Drilling
Golden Goliath Resources Ltd.: New Discovery of Orito Zone Significantly Expands Near Surface Gold-Silver Mineralization Through Recent Drilling
VANCOUVER, BRITISH COLUMBIA, Nov. 2, 2010 (Marketwire) --
Highlights
-- DRILLING CONFIRMED 1380M LONG AND 540M WIDE NEAR SURFACE GOLD-SILVER MINERALIZATION -- ORITO ZONE - A NEW DISCOVERY- HAS RETURNED 44.25M OF 72 G/T SILVER & 0.75 G/T GOLD (1.95 G/T GOLD EQUIVALENT) -- STEP OUT DRILLING TO THE NORTH AND SOUTH OF FILO DE ORO ZONE HAS PROVEN CONTINUITY OF THE NEAR SURFACE GOLD-SILVER MINERALIZATION
Golden Goliath has received assays for the six diamond drill holes targeting (i) Orito Zone, (ii) Filo de Oro North, and (iii) Filo de Oro South Zones at the Company's Las Bolas-Los Hilos Project.
i. ORITO ZONE - NEW DISCOVERY:
The Orito Zone was discovered through surface mapping and sampling in the 2010 exploration program. Surface sampling at Orito found 46m of 50 g/t silver and 0.48 g/t gold (1.31 g/t gold Equivalent), 35m of 27 g/t silver and 1.17 g/t gold (1.62 g/t gold equivalent). Two drill holes 100m apart were planned to test the continuity of this mineralization at depth. Results are given below.
--------------------------------------------------------------------------- ORITO ZONE --------------------------------------------------------------------------- GoldDrill Hole From(m) To(m) Width(m) Gold g/t Silver g/t Eq.(i)---------------------------------------------------------------------------LH-14 0 44.25 44.25 0.752 72 1.95 g/t---------------------------------------------------------------------------LH-15 0 51.85 51.85 0.41 42 1.12 g/t---------------------------------------------------------------------------(i) Gold Equivalent = gold + Silver/60
The continuity of the mineralization at surface and at depth combined with the mineralization being open in all directions and the proximity to other known mineralized zones is very encouraging. The Los Hilos Tunnel is just 250m east while the Las Bolas Tunnel is just 780m northwest of Orito. Please refer to the plan map for drill hole locations.
ii. FILO de ORO NORTH:
The Filo de Oro North Zone discovery was announced in the Company's last news release. One drill hole 100m step out to the north drilled a wide zone of near surface gold-silver mineralization. The step out drilling to the north has increased the strike length of this mineralized Zone to 1380m. The Filo de Oro North Zone is open in all directions; Details in the table below.
--------------------------------------------------------------------------- FILO de ORO NORTH --------------------------------------------------------------------------- GoldDrill Hole From(m) To(m) Width(m) Gold g/t Silver g/t Eq.(i)---------------------------------------------------------------------------LH-11 5.2 29.1 23.9 0.66 20 0.99 g/t---------------------------------------------------------------------------(i) Gold Equivalent = gold + Silver/60
iii. FILO de ORO SOUTH:
Two drill holes at the Filo de Oro South Zone were intended to extend the mineralization south. Drilling was at the higher/elevated portion of this Zone at different angles. The shallower hole confirms the higher grade mineralization near surface while the steeper hole confirms the Zone widens at depth. Results of LH-24 & LH-26 are summarized in the table below.
--------------------------------------------------------------------------- FILO de ORO SOUTH --------------------------------------------------------------------------- GoldDrill Hole From(m) To(m) Width(m) Gold g/t Silver g/t Eq.(i)---------------------------------------------------------------------------LH-25 10.80 16.80 6.0 0.35 35 0.93 g/t ---------------------------------------------------------------- 23.00 24.55 1.55 1.24 63 2.29 g/t--------------------------------------------------------------------------- Including ---------------------------------------------------------------------------LH-25 24.05 24.55 0.55 3.08 143 5.46 g/t---------------------------------------------------------------------------LH-26 17 23.6 6.60 1.5 59 2.49 g/t---------------------------------------------------------------------------LH-26 118.2 165.1 46.9 0.36 31 0.87 g/t---------------------------------------------------------------------------(i) Gold Equivalent = gold + Silver/60
The Company has also received assays for the remaining part of LH-06 where the Company drilled multiple zones including 17.55m of 1.06 g/t gold and 9 g/t silver (1.21 g/t gold Eq.) The hole has ended in mineralization.
Company President & CEO, Paul Sorbara, said in a commentary on the recent drilling: "The recent results indicate that northwesterly structures control mineralization and that is of primary importance going forward as northwesterly structures are important at nearby surrounding deposits. The newly discovered zones, with very good, near surface gold-silver grades over large intervals certainly substantiate the Company's goal to establish a large open pit-able gold and silver resource. The recent results, with every single hole-drilled intersecting mineralization in the areas drilled, are beyond our expectations." Mr. Sorbara states further "we will evaluate and integrate these results to increase our existing mineral inventory at the Los Bolas-Los Hilos Project. Our geological model for the Los Hilos side of the property, of disseminated gold and silver, hosted in felsic rocks, sitting on top of higher grade veins, hosted in mafic rocks, appears to be correct as the current drilling has proven that disseminated gold-silver mineralization situated above higher grade silver veins below exists over a wide area. Mineralization is also hosted in brecciated, porphyritic intrusive rocks, which indicates potential for a porphyry gold deposit. Several drill holes have also ended in mineralization, clearly indicating that it is open to depth."
Based on the Company's work, Filo de Oro has two components. A large, near surface zone up to 540 metres in width and approximately 230 metres thick, overlies near-vertical higher-grade-vein feeder zones that are beneath and cut through the surface zone. The roughly north-south Filo de Oro trend is a topographic high located at the east end of the east-west Las Bolas, Frijolar and Corazon trends. These three east- west trends host the other 12 known vein systems on the Las Bolas property and the main Las Bolas Mine workings which were the focus of the NI 43-101 report completed last fall.
About Golden Goliath
Golden Goliath Resources Ltd. is a junior exploration company listed on the TSX Venture Exchange (symbol GNG). The Qualified Person who has reviewed and approved this release is J. Paul Sorbara M.Sc., P.Geo. The Company is focused on exploring and developing the gold and silver potential of an historic mining camp located in the world famous Sierra Madre Occidental Mountains of northwestern Mexico. Golden Goliath's Uruachic claims are owned 100% by the Company and are fully paid for with no property option or purchase payments to make.
To view the map associated with this press release, please click on the following link: http://media3.marketwire.com/docs/gg111.pdf
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.
Golden Goliath Resources Ltd. President & CEO +1(604) 682-2950 jps@goldengoliath.com www.goldengoliath.com
Source: Marketwire Canada (November 2, 2010 - 9:31 AM EDT)
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(NWMT) NewMarket and China Crescent (CCTR) Announce Letter of Intent With Systems Integration Operation in India
(NWMT) NewMarket and China Crescent (CCTR) Announce Letter of Intent With Systems Integration Operation in India
Nov. 2, 2010 (Marketwire) --
DALLAS, TX -- (Marketwire) -- 11/02/10 -- NewMarket Technology, Inc. (PINKSHEETS: NWMT) (OTCQB: NWMT) and Greenfield partner China Crescent Enterprises, Inc. (OTCBB: CCTR) today announced a letter of intent with a systems integration operation headquartered in Hyderabad, India. NewMarket and China Crescent previously announced plans to establish a systems integration operation in India as part of an overall plan to increase profits and accelerate revenue growth. The two companies plan to release a Webcast this Friday, November 5th, to provide an overview of the letter of intent and strategic plan to increase profits and accelerate revenue growth with an Indian operation. A link to the Webcast will be made available on the companies' websites upon release and sent to the opt-in email databases.
NewMarket provides systems integration services in China, Southeast Asia, Latin America, North America and East Africa, with a primary focus on the world's emerging and growing markets. Systems integration services include technology reseller, customization, integration, outsourcing and support services. NewMarket's technology services operations in China and Brazil are poised to provide offshore systems integration and technology outsourcing services in the United States and Western Europe. However, today China and Brazil are not yet widely recognized as technology outsourcing resources for Western markets. India is a recognized global technology services outsourcing resource, and the Company has been developing plans to expand its outsourcing services, established in 2009, through geographic expansion into India.
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About China Crescent Enterprises, Inc. (www.chinacrescent.com)
China Crescent is a systems integration service provider that markets technology outsourcing services in China including the sale and service of brand name technologies such as Microsoft, Cisco, IBM, HP and Dell. Following a strategic acquisition last year, the Company expanded its business line to include original design manufacturing (ODM). China Crescent reported $45 million in profitable revenue in 2009 after reporting over $40 million in revenue for both 2007 and 2008 and has set a goal of reaching $100 million in revenue in 2010.
Headquartered in Dallas with operations in Shanghai, Shenzhen, Dalian and Beijing, China Crescent bridges the gap between global business cultures to assist clients worldwide realize the advantages of the high quality, low cost technology products and services available from China. China Crescent also assists clients in localizing products and services to realize the tremendous growth potential available by expanding into the Chinese Market.
About NewMarket Technology, Inc. (www.newmarkettechnology.com)
NewMarket Technology is a global small business incubator. NewMarket's current portfolio of operations provides systems integration, technology infrastructure services and emerging technology. NewMarket's operations strategically focus on providing technology and support services in emerging and developing economies with high growth rate potential where technology purchasing is on the rise. In addition to its base of operations in North America, NewMarket has operations today in the growing economies of China, Southeast Asia, Africa, Brazil and Northern Latin America. Overall, NewMarket reported over $95 million in revenue for 2008 and reported over $98 million in profitable revenue for 2009.
NewMarket's operations provide services and support for both brand-name technologies, such as Microsoft, as well as emerging technologies ranging from mobile computing to various security and wireless broadband technologies. NewMarket's rapid growth since 2002 placed the Company on the Deloitte Technology Fast 500 for 5 consecutive years. NewMarket was recognized as the third fastest growing technology company in the United States in 2006 and the number one fastest growing technology company in North Texas for two years in a row.
"SAFE HARBOR STATEMENT" UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995
This press release contains forward-looking statements that involve risks and uncertainties. The statements in this release are forward-looking statements that are made pursuant to safe harbor provision of the Private Securities Litigation Reform Act of 1995. Actual results, events and performance could vary materially from those contemplated by these forward-looking statements. These statements involve known and unknown risks and uncertainties, which may cause NewMarket Technology's and / or China Crescent's actual results in future periods to differ materially from results expressed or implied by forward-looking statements. These risks and uncertainties include, among other things, product demand and market competition. You should independently investigate and fully understand all risks before making investment decisions.
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NewMarket Technology, Inc.
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Source: Marketwire (November 2, 2010 - 9:25 AM EDT)
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Gold Standard Ventures Announces Drill Results
Gold Standard Ventures Announces Drill Results
VANCOUVER, BRITISH COLUMBIA, Nov. 2, 2010 (Marketwire) -- Gold Standard Ventures Corp. ("Gold Standard") (TSX VENTURE:GV)(PINK SHEETS:GDVXF) is pleased to report the Company's exploration progress on our Railroad project located on the Carlin Trend, Nevada.
To date, four holes have been completed with assays returned. The drill program had initially been slowed by difficult drilling conditions. As a result many reverse circulation (RC) holes have been, or will be completed with pre-collared core-tailed holes. Initial drilling has focused on the North-South trending North Corridor target zone. This target zone forms the Western boundary of a major graben feature referred to as the Bullion Graben. The holes have been vertical or East directed at high angles and are confirming a series of multiple North-South oriented fault structures stepping downward to the East. This geological setting provides multiple structurally complex target opportunities. Drilling has expanded this Bullion structural target zone to both the East and North well beyond any historic drilling.
Previous explorers at Railroad utilized very little or no core drilling in their programs. Because of this, prior understandings of controls to gold mineralization appear to have been very poorly understood. Our core drilling to depths of approximately 1500 feet has provided critically needed information about the controls to mineralization. Specifically, hydrothermally induced, collapse-style breccias are being encountered at and near the contact of Webb mudstone and underlying Devils Gate Limestone, and also deep within the Devils Gate limestone which is also locally strongly dolomitized. This is the same control to mineralization that exists in the Rain district just to the North and is analogous to the very similar setting of Rodeo Creek clastics overlying Popovich limestone at the Meikle, Rodeo, and Goldbug deposits, and also portions of the Goldstrike and Gold Quarry deposits, on the Carlin Trend.
Two holes, RR10-2C and RR10-4C were drilled to test a presumed associated structure to the known POD mineralization. Though collapse-style breccias were encountered, both holes lacked the important presence of hydrothermal dolomitized Devils Gate Limestone, and appear to have been drilled too far from the mineralizing source structure. Only trace to 527 ppb amounts of gold were obtained in RR10-2C, assays are pending in RR10-4C. Additional drilling is planned, moving Northward closer to the recently identified Railroad Fault target zone.
SUMMARY OF 2010 DRILL RESULTS:
---------------------------------------------------------------------------Drill hole From Interval Gold Length Gold (type) Td(m) (m) To(m) (m) (g/t) (ft) (oz/st)---------------------------------------------------------------------------RR10-1 (RC) 524 4.6 24.4 19.8 0.34 65 ft 0.01---------------------------------------------------------------------------RR10-2C (core) 440 no significant intercepts greater than 10 feet thick---------------------------------------------------------------------------RR10-3 (RC) 472 completed with core, assays pending ---------------------------------------------------------------------------RR10-4C (core) 453 assays pending ---------------------------------------------------------------------------RR10-5 (RC) to be completed with core ---------------------------------------------------------------------------RR10-6 (RC) 457 120.4 131 10.7 0.546 35 ft 0.016--------------------------------------------------------------------------- And 268.2 309.4 41.2 0.886 135 ft 0.026---------------------------------------------------------------------------RR10-7 (RC) 457 no significant intercepts ---------------------------------------------------------------------------RR10-8 (RC) to be completed with core ---------------------------------------------------------------------------RR10-9 (RC) 476 completed, assays pending ---------------------------------------------------------------------------
All drill hole assays are weighted averages. Gold assays were completed by ALS Minerals, ALS Canada Ltd using 30 gram charge, fire assay, with ICP final. Q&A includes inclusion of blanks, duplicates, and check standards into submitted sample batches and comparison with known results, with sample preparation in Elko, and assayed in Reno and/or Vancouver.
More broadly throughout the Railroad districts 21 square mile property position, generative exploration work continues. Soil sampling and additional detailed gravity assessment is in progress on the newly identified Lee Canyon target, the LT, and the South Zone targets. A nine to ten hole drill program has been designed by consultant, Buster Hunsaker, to assess several targets in the Bullion District target area as early as possible in 2011. An important recent development has been the identification of what is now being called the Railroad Fault target zone at the North end of the project area. This target zone has received no previous drilling directed specifically at the target. This is a major West-North-West fault zone with displacement down to the North and appears to have many characteristics of the productive Rain Fault in the Rain district 5 miles to the North. The permitting of drill sites in the central portion of this target zone is in progress.
In order to complete the program designed for 2010, Gold Standard now has a total of 4 drill rigs (2 RC & 2 Core rigs) active at Railroad.
"Visual rock characteristics of Carlin-style alteration in our drill holes is demonstrating that the hydrothermal system is both larger and stronger than anticipated. Severe structural complexity is both encouraging and daunting with regard to the location of high-grade, breccia-hosted gold targets. We remain very confident, however, that information provided by the combination of RC and core holes will allow us to zero in on these high grade target opportunities," quotes Vice President of Exploration, Dave Mathewson.
The Company's Vice President of Exploration, David C. Mathewson, M.Sc., a non-independent Qualified Person, as defined by NI 43-101, Standards of Disclosure for Mineral Properties, has verified the technical information and evaluated interpretations contained in this news release.
ABOUT GOLD STANDARD VENTURES - Gold Standard Ventures is focused on the acquisition and exploration of gold projects in North Central Nevada. Gold Standard currently holds a portfolio of projects totaling approximately 26,000 acres of prospective ground within North Central Nevada of which 15,349 acres comprise the flagship Railroad Gold Project.
On behalf of the Board of Directors of Gold Standard,
Jonathan Awde, President and Director
This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Gold Standard Ventures Corp. President 604-669-5702 begin_of_the_skype_highlighting 604-669-5702 end_of_the_skype_highlighting info@goldstandardv.com www.goldstandardv.com Redstone Communications, LLC 317-337-1800 begin_of_the_skype_highlighting 317-337-1800 end_of_the_skype_highlighting
Source: Marketwire Canada (November 2, 2010 - 9:16 AM EDT)
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Herborium to Hold Shareholder Conference Call
Herborium to Hold Shareholder Conference Call
Nov. 2, 2010 (GlobeNewswire) --
SADDLE BROOK, N.J., Nov. 2, 2010 (GLOBE NEWSWIRE) -- Herborium Group, Inc., (Pink Sheets:HBRM) www.herborium.com, a Botanical Therapeutics™ company, today announced Dr. Agnes Olszewski, Herborium Group's president and chief executive officer, will hold a shareholder conference call on Wednesday, November 3, 2010, at 4:15 PM EDT, to discuss its 2011 marketing plan and make an important announcement to shareholders.
Shareholders can participate on Wednesday, November 3, 2010, by dialing (805) 309-0111 and entering access code 646614, up to 10 minutes before the call, beginning at 4:15 PM EDT, 3:15 PM CDT, 2:15 PM MDT, and 1:15 PM PDT.
"I look forward to speaking with Herborium's shareholders during this upcoming call," commented Dr. Agnes P. Olszewski, Herborium Group's president and chief executive officer. "We will discuss our new 2011 marketing plan, current product initiatives, and the significant market opportunity afforded AcnEase® by the withdrawal of Roche's Accutane®. I respectfully suggest that due to the dense subject matter, those who wish should be prepared to take notes."
Shareholder questions will also be answered during the call; shareholders are encouraged to e-mail all questions for management to herborium@smallcapss.com, any time before the call to ensure questions are covered in the time allowed.
About Herborium Group, Inc.
Herborium Group, Inc., a Botanical Therapeutics® company, focuses on developing, licensing, and marketing proprietary, botanically based medicinal products to consumers and healthcare professionals. The Company's business model focuses on emerging market opportunities spearheaded by the growth of a new market sector located between high-cost, high-risk, ethical pharmaceuticals and commoditized classic nutraceuticals (supplements). The Company uses clinical validation and a proactive regulatory strategy based on the FDA Guidance for Industry: Botanical Drug Products (FDA Guidance 2004) to establish and maintain a differential advantage. For more information, please visit www.herborium.com and www.acnease.com.
One of our most important responsibilities is to communicate with shareholders in an open and direct manner. Comments are based on current management expectations, and are considered "forward-looking statements," generally preceded by words such as "plans," "expects," "believes," "anticipates," or "intends." We cannot promise future returns. Our statements reflect our best judgment at the time they are issued, and we disclaim any obligation to update or alter forward-looking statements as the result of new information or future events. The Company urges investors to review the risks and uncertainties contained within its filings with the OTC Markets and/or Securities and Exchange Commission.
CONTACT: Herborium Group, Inc.
Investor Relations
Steve Haag
(832) 413-6206
Source: Globe Newswire (November 2, 2010 - 8:37 AM EDT)
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Gold Canyon Intersects 307 Meters at 1.44 Grams Per Tonne Gold Including 100 Meters at 2.70 Grams Per Tonne Gold at Springpole Gold Project
Gold Canyon Intersects 307 Meters at 1.44 Grams Per Tonne Gold Including 100 Meters at 2.70 Grams Per Tonne Gold at Springpole Gold Project
VANCOUVER, BRITISH COLUMBIA, Nov. 2, 2010 (Marketwire) -- Gold Canyon Resources Inc. (TSX VENTURE:GCU)(PINK SHEETS:GDCRF) ("Gold Canyon" or "the Company") is pleased to announce that a very long intercept of gold mineralization encountered in hole SP10-019, 307 meters at 1.44 grams per tonne gold (1,007 feet at 0.042 oz per ton gold) including 100 meters at 2.70 grams per ton gold (328 feet at 0.079 oz per ton gold), further extends the Portage Zone to the southeast (Please see attached map: http://media3.marketwire.com/docs/gcu-map1.pdf).
-- Hole SP10-019, collared approximately 50 meters southeast of hole SP10- 016 (305 meters at 1.03 grams per tonne gold announced in news release dated October 8, 2010) intersected 307 meters at 1.44 grams per tonne gold (1,007 feet at 0.042 oz per ton gold) including 100 meters at 2.70 grams per tonne gold (328 feet at 0.079 oz per ton gold). Hole SP10-019 was drilled at an azimuth of 220 degrees true north and inclination of -45 degrees, parallel to hole SP10-016. SP10-019 extends the strike of the Portage Zone by 50 meters southeast. -- In terms of grade-thickness, hole SP10-019 is the best hole drilled across the Portage Zone to date at 454 gram-meters aggregate. Hole SP10- 019 is the third drill hole from the 2010 program that tests the strike extent of the Portage Zone to the southeast. Results from hole SP10-019 combined with the results from hole SP10-016 (305 meters at 1.03 grams per tonne gold announced in news release dated October 8, 2010) and hole SP10-008 (123.0 meters at 1.45 grams per tonne gold in news release dated August 16, 2010) demonstrate good continuity of mineralization in this southeastern-most part of the Portage Zone and indicate the zone is wide open to the southeast. -- The strike length of the Portage Zone presently stands at approximately 900 meters. This zone strikes northwest and is believed to be dipping 75 degrees to the southwest to near vertical in the vicinity of hole SP10- 019. Therefore, the minimum true width represented by this intercept is believed to be 153 meters. Because hole SP10-019 was drilled from shore, it tested this zone to depths of approximately 350 meters. A historic hole, BL-128, was collared from the ice and drilled across the Portage Zone approximately 170 meters northwest of hole SP10-019. It encountered gold mineralization starting at surface. Therefore, it is believed that the Portage Zone extends to surface above the intercept in hole SP10- 019. Planned drill holes to be collared from the ice this upcoming winter will test shallow parts of this zone for confirmation. -- Results from the remaining nine holes from this summer's drill program are due back from the assay lab over the next few weeks. Included are five additional holes that test various parts on the Portage Zone. Holes SP10-22 and -24 test the strike of the Portage Zone 50 meters further southeast from hole SP10-019. Holes SP10-026 and -29 test the Portage Zone in areas below holes SP10-007, -009 and -011 (see August 16, 2010 and August 30, 2010 news releases) at northwest end of the Portage Zone. Hole SP10-028 tests the mid portion of the zone. Three other holes, SP10-021, -023, and -025, test other targets on the property. Hole SP10- 027 was terminated at 115 meters when the drill hole deviated off course and thus was unable to reach its intended target zone. In total, the Company has drilled approximately 10,300 meters of diamond core at Springpole in 2010. -- Holes SP10-018 and -020 targeted deep below the East Extension Zone which lies about 500 meters northeast of the Portage Zone. Both holes encountered low level gold mineralization. -- Plans are being made for the Winter 2011 Diamond Drill Program. The Company is planning an aggressive drill program, funded by the recently completed $6,000,000 financing (see news release dated October 29, 2010), to further evaluate the size of the Portage Zone. Up to 10,000 meters of drilling are planned utilizing three diamond core rigs beginning in early January 2011, weather permitting. Summary of intervals from hole SP10-019 - Portage Zone --------------------------------------------------------------------------- From To Length Gold Length GoldHole (meters) (meters) (meters) (grams per tonne) (feet) (oz per ton)---------------------------------------------------------------------------SP10-019 84 88 4 1.30 13 0.038 156 166 10 0.71 33 0.021 182 489 307 1.44 1007 0.042includes 232 332 100 2.70 328 0.079Intervals of no core recovery were encountered at 418-421 m and 430-442 m Zones of no recovery were given 0 gold grade in the weighted calculations above ---------------------------------------------------------------------------Reported intervals apply a 0.34 gram per tonne gold (0.01 oz per ton gold) cutoff. Internal dilution within reported intervals does not exceed core lengths of 8 meters. All reported assay intervals are weighted. 1 troy ounce = 31.103 grams Conversion factor - grams per tonne to troy ounces per short ton: g/t divided 34.2857 or g/t multiply by 0.0292 1 meter = 3.28 feet
"The gold intercept in hole SP10-019 is very important because it likely tells us that the true strike of the Portage Zone falls north of some historic holes collared a few hundred meters south and southeast of SP10-019," comments Dr. Quinton Hennigh, technical advisor to Gold Canyon. "Those historic holes all intersected long intervals of low grade gold mineralization typical of that along the fringes of the Portage Zone. It is possible that low grade gold mineralization in those holes simply provides an indication that the Portage Zone passes nearby. We are hopeful this is the case and plan on demonstrating it with some well-placed drill holes this winter."
The Summer 2010 Diamond Drill Program, now complete, is part of an ongoing program of drilling and remodelling of the Springpole deposit to move it towards prefeasibility. Drilling is planned to continue through April 2011, at which time work will begin on revising the resource estimate for the deposit.
Springpole is an alkaline intrusion hosting a gold system that represents a potentially new style of Canadian Archean Shield gold deposit. Springpole shares many similarities with deposits such as the Cripple Creek Gold deposit in Colorado. The Portage Zone is hosted by a trachytic porphyry intrusion displaying polyphase autolithic breccias that contain gold mineralization of remarkably uniform grade. Other zones including East Extension, Camp and Main consist of high grade veins and pods hosted in diatreme breccias composed of intrusive and country rocks. These diatreme breccias surround the northwest and northern margins of the Portage Zone. The known mineralized zones underlie a total known area of about 4 square kilometres representing only about 15 percent of the greater alkaline intrusive complex which yet remains to be explored.
Core was logged, then split using diamond saws, with one half sent for analyses and the other half stored for future reference. Quality control programs include the use of duplicates, standards and internal and external check assaying. Certified sample standards were submitted with the normal sample stream. Gold and silver assays were completed by SGS Canada Inc. in Red Lake and Toronto , Ontario using a 30 gram charge, fire assay, with an ICP finish. For over limit assay results, initial assays in excess of 10.0 grams per tonne Au, a gravimetric finish is utilized.
Quinton Hennigh, Ph.D., P.Geo. and Alan Roberts, M.Sc., P.Geo. are the Qualified Persons pursuant to National Instrument 43-101 responsible for, and have reviewed and approved, the technical information contained in this news release. Dr. Hennigh is acting as a technical adviser to Gold Canyon and Alan Roberts is the Senior Geologist of Alaska Earth Sciences, Inc. and Project Manager at Springpole.
About Gold Canyon Resources Inc.:
Gold Canyon is engaged in the acquisition and exploration of mineral and precious metals properties. The Company controls a 100% interest in the Springpole Gold - Horseshoe Island Gold, Platinum, Palladium Project and Favourable Lake Poly-metallic property currently under option to Shoreham Resources Inc. pursuant to an option and joint venture agreement entered into in December 2005 - all in the Red Lake Mining District of Ontario, Canada.
Through its wholly owned U.S. subsidiary, Gold Canyon Resources USA Inc., the Company controls a 100% interest in the Cordero Gallium Project situated in Humboldt County, Nevada, U.S.A.
Gold Canyon entered into a Joint Exploration Agreement with the Japan Oil, Gas and Metals National Corporation (JOGMEC) in January 2009.
Additional information can be found on the Company's website: www.goldcanyon.ca.
Akiko Levinson, President & Director
Certain statements contained in this news release using the terms "may", "expects to", "project", "estimate", "plans", and other terms denoting future possibilities, are forward-looking statements in respect to various issues including upcoming events based upon current expectations which involve risks and uncertainties that could cause actual outcomes and results to differ materially. The future conduct of the Company's business and the feasibility of its mineral exploration properties are dependent upon a number of factors and there can be no assurance that the Company will be able to conduct its operations as contemplated and the accuracy of these statements cannot be guaranteed as they are subject to a variety of risks that are beyond our ability to predict or control and which may cause actual results to differ materially from the projections or estimates contained herein. The risks include, but are not limited to, the risks described in the above press release; those risks set out in the company's disclosure documents and its annual, quarterly and current reports; the fact that exploration activities seldom result in the discovery of a commercially viable mineral resource and are also significant amounts of capital to undertake and the other risks associated with start-up mineral exploration operations with insufficient liquidity, and no historical profitability. The Company disclaims any obligation to revise any forward looking statements as a result of information received after the fact or regarding future events.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Gold Canyon Resources Inc. (604) 682-0537 (FAX) info@goldcanyon.ca www.goldcanyon.ca Gold Canyon Resources Inc. Investor Relations (416) 543-3120 leo@frontlineir.com
Source: Marketwire Canada (November 2, 2010 - 8:32 AM EDT)
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Rare Earth Elements (REE's) Reported from Mt Copeland - Revelstoke Mining Division, BC
Rare Earth Elements (REE's) Reported from Mt Copeland - Revelstoke Mining Division, BC
CALGARY, ALBERTA, Nov. 2, 2010 (Marketwire) -- Torch River Resources Ltd. ("Torch" or the "Corporation") (TSX VENTURE:TCR) (FRANKFURT:WNF) (PINK SHEETS:TORVF) is pleased to announce geochemical analysis results identifying molybdenum (Mo), REE (La, Ce, Pr, Nd, Pm, Sm, Eu, Gd, Tb, Dy, Ho, Er, Tm, Yb, Lu), yttrium (Y), zirconium (Zr), and niobium (Nb) bearing mineralization on its 100% owned Mount Copeland mineral tenures comprising 1318 hectares and located 25 km northwest of Revelstoke, BC. Copeland Mo property history includes underground excavation (1970-73) that produced 169,729 tonnes and recovered 2,625,046 pounds (1,190,713 kilograms) of molybdenum. When the Copeland Mine went into production in 1970, development work, diamond drilling, mapping, & sampling indicated there was 163,340 tonnes @ 1.09% Mo.
REE's are presently in short supply, and their values are high and increasing. Their uses are varied but essential in manufacturing activities such as: electronics, batteries, high tech uses, strong magnets, TV screens and microwave transmission.
Fieldwork carried out by the Corporation in 2010 consisted of 34 rock chip, and 72 soil samples taken in a 1,200 X 500 m area centred on the old underground workings. Soil and rock chip samples were analyzed by lithium borate fusion with ICP-MS finish, and Mo assay (Pioneer Labs, Richmond, BC certificate 2102718). A total of 8 select rock chip samples were re-analyzed by lithium borate fusion with ICP-MS finish ME-MS61 (ALS Chemex Labs, N Vancouver, BC certificate VA10144345). A compilation of geochemical analysis (and assays for Mo), is listed as follows:
Mean average values for elements listed, from 72 soil samples geochemically analyzed:
----------------------------------------------------------------------- Ce Dy Er La Nd Pr Sm U Y Nb Ti----------------------------------------------------------------------- 519.0 19.0 11.0 389.6 170.5 60.0 29.0 21.5 104.7 323.3 0.98 ppm ppm ppm ppm ppm ppm ppm ppm ppm ppm %-----------------------------------------------------------------------
Anomalous REE values in soil samples are widespread. The areas that have the highest concentrations of REE values in soil include Marble Breccia Ridge and the East Glacier Zones. The Marble Breccia Ridge Zone contains 4 positive total field anomalies identified by a magnetometer survey carried out in 2008. These positive total field magnetic anomalies (moderate strength 200-500 nT increase, strong greater than 500 nT increase) are listed as follows:
---------------------------------------------------------------------------- Easting Northing Elevation Relative strength Zone Name---------------------------------------------------------------------------- 397350 5665500 2320 m Moderate West Basin---------------------------------------------------------------------------- 397500 5665350 2340 m Strong Marble Bx Ridge---------------------------------------------------------------------------- 397550 5665350 2335 m Moderate Marble Bx Ridge---------------------------------------------------------------------------- 397650 5665300 2340 m Strong Marble Bx Ridge---------------------------------------------------------------------------- 397600 5665250 2410 m Moderate Marble Bx Ridge---------------------------------------------------------------------------- 397690 5665250 2395 m Moderate W Glacier----------------------------------------------------------------------------
The magnetometer survey strong anomalies are located in an area of marble with extensive zones of pyrrhotite and/or magnetite/ilmenite replacement mineralization which coincides with elevated REE geochemical analysis of rock chips 10AR-22 to 28 from Marble Breccia Ridge.
----------------------------------------------------------------------------rock no % Mo ppm Ce ppm La ppm Nd ppm Pr ppm Sm--------------------------------------------------------------------------------------------------------------------------------------------------------10AR-1 0.63 165.2 79.7 49 15.1 7.1----------------------------------------------------------------------------10AR-2 0.49 132.1 44.3 36.2 12 4.1----------------------------------------------------------------------------10AR-3 0.95 1855 1105 531.2 165.5 47.4----------------------------------------------------------------------------10AR-4 1.33 297.8 187.3 80.3 26.6 10.4----------------------------------------------------------------------------10AR-5 0.56 142.9 79.7 45.1 14.2 6.7----------------------------------------------------------------------------10AR-9 0.77 103.3 51.8 36.2 10.7 6.2----------------------------------------------------------------------------10AR-10 1.2 116.3 66 33.5 11.2 4.7----------------------------------------------------------------------------10AR-11 0.1 396.1 170.1 128.8 39.8 23.1----------------------------------------------------------------------------10AR-12 0.01 1110 638 241 92.6 23.2----------------------------------------------------------------------------10AR-14 0.19 35.5 20.1 11.3 3.5 1.7----------------------------------------------------------------------------10AR-15 0.21 96.3 47.4 39.4 10.7 6.3----------------------------------------------------------------------------10AR-19 0.01 754 742.5 175.5 61.2 22----------------------------------------------------------------------------10AR-20 greater greater greater greater greater than than than than than 0.01 10000 10000 10000 1000 1000----------------------------------------------------------------------------10AR-22 greater greater greater than than than 0.01 10000 10000 2550 1000 209.6----------------------------------------------------------------------------10AR-23 0.01 1270 1205 176.3 87.1 23.1----------------------------------------------------------------------------10AR-24 0.21 183 164.1 37.4 13.3 4.6----------------------------------------------------------------------------10AR-25 0.01 593 722.3 99.9 43.3 13.7----------------------------------------------------------------------------10AR-26 0.22 1440 1520 166.8 89.2 24.6----------------------------------------------------------------------------10AR-27 0.92 23.5 15 7.5 2.3 1.3----------------------------------------------------------------------------10AR-28 0.43 191.4 129.7 45.8 15.8 6.7----------------------------------------------------------------------------10AR-30 3.4 175.1 99.4 70 20.6 12.6------------------------------------------------------------------------------------------------------------------------------------------------rock no ppm Y ppm Dy ppm Nb % Ti Ppm Zr----------------------------------------------------------------------------------------------------------------------------------------10AR-1 31.3 5.7 94.9 0.058 4--------------------------------------------------------------------10AR-2 8.2 1.8 74.2 0.094 3--------------------------------------------------------------------10AR-3 113 24.5 3760 0.966 979--------------------------------------------------------------------10AR-4 greater than 39.1 7.5 1000 2.587 19--------------------------------------------------------------------10AR-5 greater than 18.6 4 1000 1.396 11--------------------------------------------------------------------10AR-9 32.3 5.4 641.9 0.771 5--------------------------------------------------------------------10AR-10 11.7 2.2 43.9 0.037 16--------------------------------------------------------------------10AR-11 101.1 18.5 84.2 0.287 5--------------------------------------------------------------------10AR-12 66.1 12.1 255 0.287 638--------------------------------------------------------------------10AR-14 4.1 0.8 18.2 0.055 1--------------------------------------------------------------------10AR-15 19.5 3.9 23.8 0.117 8--------------------------------------------------------------------10AR-19 76.5 11.8 236 1.466 1865--------------------------------------------------------------------10AR-20 623.8 284.1 527.4 2.928 6190--------------------------------------------------------------------10AR-22 414.8 80.1 31.4 0.277 136--------------------------------------------------------------------10AR-23 103.8 16.7 73.5 0.361 484--------------------------------------------------------------------10AR-24 23.2 3.7 22.1 0.171 6--------------------------------------------------------------------10AR-25 106.9 17.2 147.1 0.566 219--------------------------------------------------------------------10AR-26 152.4 20.6 35.3 0.254 95--------------------------------------------------------------------10AR-27 3.4 0.7 32.1 0.227 6--------------------------------------------------------------------10AR-28 25.3 4.4 89.6 0.486 12--------------------------------------------------------------------10AR-30 38.5 8.5 126.8 0.06 7---------------------------------------------------------------------------------------------------------------------------------rock no width elev strike dip zone name cm m-------------------------------------------------------------10AR-1 100 2056 100 45 S Glacier Mine-------------------------------------------------------------10AR-2 120 2053 105 48 S Glacier Mine-------------------------------------------------------------10AR-3 60 2046 100 45 S Glacier Mine-------------------------------------------------------------10AR-4 100 2076 103 47 S Glacier Mine-------------------------------------------------------------10AR-5 100 2079 100 39 S East ext, Glacier-------------------------------------------------------------10AR-9 200 2059 114 52 S East ext, Glacier-------------------------------------------------------------10AR-10 100 2055 112 50 S East ext, Glacier-------------------------------------------------------------10AR-11 52 2032 115 51 S East ext, Glacier-------------------------------------------------------------10AR-12 float 1980 Sub-portal-------------------------------------------------------------10AR-14 200 1939 140 62 SW J-5-------------------------------------------------------------10AR-15 20 1977 135 20 S Sub-portal-------------------------------------------------------------10AR-20 18 2270 110 48 S Glacier East-------------------------------------------------------------10AR-22 70 2170 101 30 S West Marble Ridge-------------------------------------------------------------10AR-23 180 2169 100 30 S West Marble Ridge-------------------------------------------------------------10AR-24 280 2181 100 50 S West Marble Ridge-------------------------------------------------------------10AR-25 25 2204 100 34 S West Marble Ridge-------------------------------------------------------------10AR-26 30 2218 100 34 S West Marble Ridge-------------------------------------------------------------10AR-27 25 2212 115 62 S West Marble Ridge-------------------------------------------------------------10AR-28 22 2203 105 63 S West Basin-------------------------------------------------------------10AR-30 float 2171 float West Basin--------------------------------------------------------------------------------------------------------------------rock no comments-------------------------------------------------------10AR-1 K-spar, kaol, chlorite, trace pyo-------------------------------------------------------10AR-2 K-spar, kaol, chlorite, trace pyo-------------------------------------------------------10AR-3 K-spar, kaol, chlorite, trace pyo-------------------------------------------------------10AR-4 450 cm wide peg-aplite zone-------------------------------------------------------10AR-5 K-spar, chlorite-------------------------------------------------------10AR-9 K-spar, kaol, chlorite, trace pyo-------------------------------------------------------10AR-10 K-spar, kaol, chlorite, trace pyo-------------------------------------------------------10AR-11 K-spar, kaol, chlorite, trace pyo-------------------------------------------------------10AR-12 angular float, 1% magnetite-------------------------------------------------------10AR-14 increased limonite-chlorite with Mos2-------------------------------------------------------10AR-15 3 m north is open cut-------------------------------------------------------10AR-20 red-yellow-brown gossan in cliff-------------------------------------------------------10AR-22 350 cm wide py-pyo-ank skarn band-------------------------------------------------------10AR-23 275 cm wide py-pyo-ank skarn band-------------------------------------------------------10AR-24 limonitic aplite-carbonate breccia contact-------------------------------------------------------10AR-25 limonitic aplite-carbonate breccia contact-------------------------------------------------------10AR-26 limonitic aplite-carbonate breccia contact-------------------------------------------------------10AR-27 limonitic aplite-carbonate breccia contact-------------------------------------------------------10AR-28 K-spar, kaol, chlorite, trace pyo-------------------------------------------------------10AR-30 K-spar, kaol, chlorite, trace pyo-------------------------------------------------------
Note- 4 samples (AR-4, 5, 20, & 22) have above detection limit analysis and are currently being re-analyzed (using higher standards) at Pioneer Labs and ALS Chemex Labs.
A second area of REE bearing mineralization occurs in the East Glacier Zone (e.g. rock chip sample COPE10AR-20). The East Glacier and Marble Bx Ridge Zones are about 500 meters apart, but they occur on the same stratigraphic horizon and may be part of an extensive REE bearing mineral zone that trends under the glacier. In addition to REE bearing mineralization, a zone of elevated molybdenum and coincident niobium occurs in the east extension of the Copeland underground workings. This area has been targeted for possible extensions of Mo bearing mineralization, but this zone appears to have elevated Mo-Nb-Ti (e.g. rock chip sample COPE10AR-4 & 5). Also, directly adjacent to the underground workings there is a rock chip sample that contains elevated Mo-REE-Nb-Ti (rock chip sample COPE10AR-3).
The geological setting for the Copeland molybdenite-REE occurrence is within concordant bodies of nepheline syenite gneiss that occur adjacent to the calc-silicate gneiss and marble unit. The syenite has locally developed an augen texture with large porphyryblasts of K-feldspar in a fine-grained groundmass. Calc-silicate assemblages contain diopside, garnet and actinolite. Carbonates and carbonatites are re-crystallized to medium and locally coarse-grained granoblastic marbles. Lithologies present are summarized as follows:
PROTEROZOIC (PRE-CAMBRIAN)
Syenite Aplite/Syenite Pegmatite: K-feldpsar, kaolinite, sericite, calcite, biotite, fluorite, garnet, sphene, specularite, pyrrhotite, pyrite, molybdenite, ilmenite, chalcopyrite, scheelite, tourmaline, apatite, riebeckite, poikilitic aegirine, zircon, zeolite, cancrinite, and analcite
Hangingwall Syenite Gneiss, Nepheline Syenite: K-feldspar, green/brown phlogopite, calcite, chlorite, accessory apatite, zircon, sphene, tourmaline, sphene, apatite, riebeckite, poikilitic aegirine, zircon, fluorite, zeolite, cancrinite and analcite
Biotite-Amphibole Marble: weathered and deeply pitted appearance, biotite, hornblende, chlorite, marble (granoblastic), actinolite, diopside
Black Biotite Amphibole Gneiss: biotite, hornblende, chlorite, oligoclase, magnetite
Quartzite Gneiss:feldspar, granular, interbedded marble bands, actinolite & diopside
The biotite-amphibole marble unit has extremely high soda and potash content, and this is likely attributed to fenitization, caused by peralkaline fluids. These fluids are thought to complex and transport REE, associated with minerals such as apatite, zircon, pyrochlore, allanite, monazite and bastnaesite.
Management is encouraged by results of rock and soil samples containing elevated REE on Mt Copeland and has sent for re-assay those samples over 1% (10,000 ppm). The company will continue to focus on exploration and development targeting REE's, Nb, Y, Zr, Ti, and Mo bearing mineral zones. Soil/rock chip sampling and interpretation of data for Torch River Resources was carried out under the supervision of Andris Kikauka, P. Geo., and a Qualified Person with respect to National Instrument 43-101.
Forward Looking Information
This press release may contain forward-looking statements which may include estimates, plans, expectations, opinions, forecasts, projections, guidance or other statements that are not statements of fact, including without limiting the generality of the foregoing, statements made regarding the Omineca Property. Although Torch believes that the expectations reflected in such forward-looking statements are reasonable, it cannot give any assurance that such expectations will prove to be correct. Results of Torch including its ability to mobilize and drill on schedule may be affected by a variety of variables and risks associated with the mining industry such as availability of human and capital resources, competition, exploration and development plans and results, anticipated capital expenditures and financing thereof, timing of applications and approvals. As such the future plans and objectives of Torch are forward-looking statements that involve risks and uncertainties and may be based on assumptions that could cause actual results to differ materially from those anticipated or implied in such statements. Torch's forward-looking statements are expressly qualified in their entirety by this cautionary statement. Unless otherwise required by applicable securities laws, Torch does not intend nor does it undertake any obligation to update or review any forward-looking statements to reflect subsequent information , events, results or circumstances or otherwise.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Torch River Resources Ltd. President and Chief Executive Officer (403) 444-6888 www.torchriver.ca ProActive Communications Co. Toll Free: (800) 540-1995
Source: Marketwire Canada (November 2, 2010 - 8:31 AM EDT)
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Omnitek Engineering Appoints Master Distributor in India
Omnitek Engineering Appoints Master Distributor in India
Nov. 2, 2010 (GlobeNewswire) --
SAN MARCOS, Calif., Nov. 2, 2010 (GLOBE NEWSWIRE) -- Omnitek Engineering Corporation (OTCQB:OMTK) today announced it has appointed Energy Infra as a master distributor for the company's products in India, with a particular focus on diesel-to-natural gas conversion kit sales for truck, bus and power generator applications.
Omnitek also said it will work with Energy Infra to develop programs to convert a variety of engine models commonly used in India, utilizing Energy Infra's facilities as technical training centers for sub-dealers located throughout the country.
"Converting high-polluting diesel powered engines to operate on natural gas provides an effective and economical solution to operating power generators, trucks and buses at significantly less expense than purchasing new natural gas engines. Our distribution agreement with Energy Infra will greatly enhance Omnitek's presence in a market with enormous growth potential," said Werner Funk, president and chief executive officer of Omnitek Engineering Corporation.
He noted that Energy Infra has established relationships with numerous government agencies, businesses and automotive companies in India that are committed to converting to natural gas from other more costly and less environmentally friendly fuels.
Funk added that power outages in India are a common occurrence, impacting commercial and residential customers. "The build-out of a natural gas pipeline network throughout India, a plentiful supply of natural gas and an engine conversion return on investment of less than one year combined with an estimated savings of up to 70 percent compared with diesel fuel usage, are compelling incentives to convert to natural gas powered-generators to address electricity shortages and power outages," Funk said.
He noted that there are an estimated 935,000 natural gas vehicles currently operating in India, primarily city buses, three-wheelers and taxis. Funk added that the Indian government has identified 250 cities for its natural gas distribution build-out program during the next three- to five-year period. "This clearly bodes well for long-term opportunities for Omnitek in India," Funk said.
Energy Infra will participate in the PETROTECH Tradeshow to be held from October 31 – November 3, 2010 in New Delhi, as well as the NGV INDIA Tradeshow, November 24 - November 26, 2010 in Mumbai. The exhibit will include a display featuring Omnitek's technology.
About Energy Infra
Energy Infra is a member of The Corporate Group and was established in 1986. It is actively engaged in city gas distribution and various Indian and global businesses, including energy, transportation, and manufacturing. The company first entered the Indian energy sector in 1999, when the company conducted a demand assessment survey, Piped Natural Gas and Compressed Natural Gas for Delhi-NCR. Today the company operates in more than 150 cities across 15 states in India.
About Omnitek Engineering Corporation
Omnitek Engineering Corp. develops and sells new natural gas engines, as well as proprietary diesel-to-natural gas conversion systems—providing global customers with innovative alternative energy and emissions control solutions that are sustainable, affordable and designed to combat global warming.
Some of the statements contained in this news release discuss future expectations, contain projections of results of operations or financial condition or state other ``forward-looking'' information. These statements are subject to known and unknown risks, uncertainties, and other factors that could cause the actual results to differ materially from those contemplated by the statements. The forward-looking information is based on various factors and is derived using numerous assumptions. Important factors that may cause actual results to differ from projections include, among many others, the ability of the Company to raise sufficient capital to meet operating requirements, completion of R&D and successful commercialization of products/services, patent completion, prosecution and defense against well-capitalized competitors. These are serious risks and there is no assurance that our forward-looking statements will occur or prove to be accurate. Words such as ``anticipates,'' ``expects,'' ``intends,'' ``plans,'' ``believes,'' ``seeks,'' ``estimates,'' and variations of such words and similar expressions are intended to identify such forward-looking statements. Unless required by law, the Company undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise.
CONTACT: Maier & Company, Inc.
Gary S. Maier
(310) 442-9852
Source: Globe Newswire (November 2, 2010 - 8:01 AM EDT)
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Mundus Group Inc. Announces UAV Air Sampling Could Provide the First Early Warning System for Disease Control for Fungus, Microbe and Viral Monitoring of Large Populated Areas
Mundus Group Inc. Announces UAV Air Sampling Could Provide the First Early Warning System for Disease Control for Fungus, Microbe and Viral Monitoring of Large Populated Areas
Nov. 2, 2010 (GlobeNewswire) --
LOS ANGELES, Nov. 2, 2010 (GLOBE NEWSWIRE) -- Considering National Security and Public Health, Mundus Group Inc. (Pink Sheets:MNDP) is looking to provide solutions to two (2) threatening scenarios: (1) an accident leaks a pathogen with potential to impact the food supply; or (2) a terrorist releases a biological agent in an act of aggression. In both cases, advanced monitoring and sampling systems would stand as the first line of defense in identifying the threat quickly, allowing responses to minimize the impact of the threat. Currently, thousands of monitors comprised of passive and active samplers can scan soil, air, and water for threats from chemical, biological, radiological, nuclear, and explosive agents.
Evaluation of the air for airborne fungi will yield information that may be helpful in preventing infection or determining the source of airborne opportunistic environmental fungi. UAV Aerial Sampling for airborne pathogens should be considered in areas where populations are at risk to infections from these opportunistic diseases.
One approach uses electrostatic precipitation technology to offer more collection efficiency and higher sampling volume. This design requires relatively low power and is inherently rugged and adaptable and can be applied to samplers that range in size from a few grams for very small unmanned aerial vehicles (micro-UAV).
The micro-organisms and their spores may produce health effects ranging from mild allergic reactions and asthma to brain abscesses and death. Airborne microbes such as fungi, bacteria, and viruses are a threat to public health. Robust and real-time detection systems are necessary to prevent and control such dangerous biological particles in public places and populated areas.
Bio-aerosol sampler testing and validation perform a crucial role in serving public safety and national security. As demand grows for biological samplers to monitor air space over cities and unpopulated areas, the Mundus Group Inc. believes that UAVs will play a critical role in providing the most reliable, economic and environmentally safe delivery system capable of vigilant monitoring and the defense of human populations around the world.
The Mundus Group Inc. is positioning its VTOL UAV technology to grow exponentially as the value also increases for these testing devices over these next few years of the current UAV Revolution. The Mundus Group Inc. believes its technology and industrial drones will become a proven routine system that brings increased efficiencies and quality of life improvements in inner space in areas as diverse as, endangered species monitoring and preservation to search and rescue, surveillance, infrastructure inspection and disease control.
The above applications could in principle, may be managed by a Mundus UAV with a 22-lb payload capability.
Source: http://www.infectioncontroltoday.com/articles/2000/10/air-quality-issues.aspx
CONTACT: Mundus Group, Inc.
+1 (866)-990-1118 x1
Fax: +1 (805)-426-8888
info@mundusgroupinc.com
Investor Relations
+1(866) 990-1118 x4
ir@mundusgroupinc.com
3540 W. Sahara Ave #1255
Las Vegas, NV 89102-5816
www.mundusgroupinc.com
Source: Globe Newswire (November 2, 2010 - 6:30 AM EDT)
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Red Branch Technologies, Inc. Announces Further Details on Green Box Solutions, LLC
Red Branch Technologies, Inc. Announces Further Details on Green Box Solutions, LLC
Nov. 2, 2010 (GlobeNewswire) --
ASHBURN, Va., Nov. 2, 2010 (GLOBE NEWSWIRE) -- Red Branch Technologies, Inc. (Pink Sheets:RBTI) announced today further details about its joint venture project with Intelligent Power Solutions, LLC called Green Box Solutions, LLC.
Green Box Solutions main product called the Green Box is a state-of-the-art, intelligent power distribution system that is being developed to provide power delivery from multiple sources, multiple outputs intelligently controlled with solid state switching along with monitoring, control and notification of the power grid state.
The key difference between the Green Box and other power distribution systems is its intelligence in enabling loads. In other words, the Green Box has the intelligence to request more power when needed or shut down non-critical loads when power consumption has exceeded the maximum. It has a sophisticated yet easy to use control system that allows the user to turn output power on and off, set the channel priority level and view/log power being delivered by each channel.
The technology behind the Green Box is being developed by Extreme Endeavors and Consulting LLC as a means to power an Autonomous experiment in Antarctica with renewable energy. This experiment being conducted by NASA Jet Propulsions Laboratory required power in conditions as cold at -100 Deg F and winds in excess of 200 miles per hour.
The supervisory control and data acquisition portion of the Green Box is being developed for monitoring hazardous and remote environments; this monitoring system is currently being used to monitor some of the most inaccessible and dangerous caves in the world.
About Red Branch Technologies, Inc.:
Red Branch Technologies provides sustainable-energy-powered solutions meeting commercial, industrial, municipal and federal requirements for site security, materials control, emergency communications, water purification and similar on-site applications. The company's ability to simultaneously manage multiple renewable energy sources allows Red Branch Technologies powered solutions to stay up and running longer than the competition. Mobility is another differentiating aspect of Red Branch Technologies' solutions.
The company also offers a unique set of security products for military and law enforcement applications where cost/performance represents a critical selection factor. The application areas include Explosive Ordinance Disposal (EOD) robots, vehicular inspection and Unmanned Aerial Vehicles (UAVs).
More detailed information can be found at www.RedBranchTech.com.
Safe Harbor: This letter contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that all forward-looking statements involve risks and uncertainty, including without limitation, the ability of the Company to successfully implement its turnaround strategy, changes in costs of raw materials, labor, and employee benefits, as well as general market conditions, competition and pricing. Although the Company believes that the assumptions underlying the forward-looking statements contained herein are reasonable, any of the assumptions could be inaccurate, and therefore, there can be no assurance that the forward-looking statements included in this letter will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as representation by the Company or any other person that the objectives and plans of the Company will be achieved. In assessing forward-looking statements included herein, readers are urged to carefully read those statements. When used in the Annual Report on Form 10-K, the words "estimate," "anticipate," "expect," "believe," and similar expressions are intended to be forward-looking statements.
CONTACT: Cervelle Group
Investor Relations
David Donlin
407-299-2377
Source: Globe Newswire (November 2, 2010 - 6:00 AM EDT)
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Encore Renaissance Updates on Underground and Winter Operations at the Bonaparte Gold Project
Encore Renaissance Updates on Underground and Winter Operations at the Bonaparte Gold Project
VANCOUVER, BRITISH COLUMBIA, Nov. 2, 2010 (Marketwire) -- Encore Renaissance Resources Corp. (TSX VENTURE:EZ)(FRANKFURT:OUH1)(PINK SHEETS:ERRCF) (the "Company") reports progress on the Bonaparte 10,000 ton bulk exploration program.
Development in the Bonaparte underground decline is continuing to advance in the decline heading due east to intersect the diamond drill-indicated high-grade (1.5oz/t gold or 48g/t) Eagle vein. The company has advanced 10 meters further down the decline with samples taken and sent out for assay. The company anticipates intersecting the Eagle vein within the next week. Currently there are faulting conditions in the decline that indicate the face is nearing the vein system.
The company has winterized all aspects of the project to allow continued operations throughout the coming winter months. Equipment to be operated from underground has been removed from the elements of winter and all surface generators and compressors have been winterized for continuous use. The camp trailers, first aid trailer, shop area, mine dry, mine office and storage area have been fully enclosed for winter use. These efforts have been done in anticipation of the predicted extreme weather conditions this winter.
The negotiations on the Handeni area of Tanzania gold project next to the Canaco Resources recent discovery are ongoing. Two company representatives have just returned from a two week site visit. The company will update the shareholders on the final terms of the acquisition in the near future.
Michael Mulberry, President and Director
The TSX Venture Exchange has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the content of this press release.
Encore Renaissance Resources Corp. President and Director 778-994-6453 or 778-891-2702 info@encorerenaissance.com www.encorerenaissance.com Encore Renaissance Resources Corp. Suite 809 - 27 Alexander St Vancouver, BC Canada, V6A 1B2
Source: Marketwire Canada (November 2, 2010 - 3:01 AM EDT)
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NEW YORK (AP) — Fox and Cablevision reached an agreement Saturday that will restore programming to more than 3 million New York-area subscribers who have been without some of their favorite shows and baseball playoff games for two weeks.
Signals for all stations and cable channels were restored before the first pitch of Game 3 of the World Series between the Texas Rangers and San Francisco Giants, said Fox, which is owned by Rupert Murdoch's News Corp.
"In the absence of any meaningful action from the FCC, Cablevision has agreed to pay Fox an unfair price for multiple channels of its programming including many in which our customers have little or no interest," Cablevision said.
Cablevision Systems Corp., based in Bethpage, N.Y., had been without Fox signals since Oct. 16 and thanked its customers for staying with them throughout the dispute.
"In the end, our customers will pay more than they should for Fox programming, but less than they would have if we had accepted the unprecedented rates News Corp. was demanding when they pulled their channels off Cablevision," the statement said.
The channels restored were Fox 5, Fox 29, My9, Fox Business Network, National Geographic Wild and Fox Deportes.
In preparation for an extended blackout, Cablevision e-mailed its customers Wednesday saying it will reimburse them $10 to cover the cost of paying to watch the games online through MLB.com.
The two sides declined to release details of the agreement Saturday.
Cablevision had said it offered to pay the same rate as Time Warner Cable Inc. for signals from Fox 5 in New York and Fox 29 in Philadelphia for one year, even though the rate is more than it pays for any other New York broadcast station.
The cable operator did not explain what it was offering for My 9 in New York and cable channels Fox Business Network, NatGeo Wild and Fox Deportes.
Fox said the rate was meant as a package deal and called Cablevision's statement "yet another in a long line of publicity stunts."
"Cablevision is seeking a discounted 'package rate' without buying the entire package," Fox said in a statement.
Cablevision subscribers have been victims of multiple blackouts this year. In March, customers lost their ABC station in New York in the hours leading up to the Oscars. Viewers missed the first 15 minutes of the awards show before Cablevision and Walt Disney Co. reached a tentative deal.
Scripps Networks Interactive Inc.'s Food Network and HGTV also went dark for three weeks in a similar dispute. Separately, Cablevision's Rainbow Media unit played hardball this summer with AT&T Inc. in fee negotiations over three channels: AMC, IFC and WE tv. That threatened AT&T's U-verse television customers' ability to watch the season premiere of AMC's "Mad Men."
Other industry standoffs this year have pitted Time Warner Cable Inc. against Fox channels, which threatened the college bowl season and new episodes of "The Simpsons," and Mediacom Communications Corp. against Sinclair Broadcasting Group.
Copyright 2010 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
French airline makes landmark flight to Baghdad
REBECCA SANTANA - AP - Sun Oct 31, 4:54AM CDT
A group of French business leaders leaves the Aigle Azur plane after arriving in Baghdad, Iraq, Sunday, Oct. 31, 2010. The French airline has landed in Baghdad international airport, becoming one...
BAGHDAD (AP) — A French airliner landed at Baghdad International Airport Sunday, becoming one of the first passenger planes to fly into the Iraqi capital direct from western Europe since the Gulf War and opening a potential new route to stronger international business ties.
The inaugural flight by France's Aigle Azur, which touched down shortly before 6 a.m. local time, carried French officials and journalists and was largely ceremonial. The airline won't begin regularly scheduled passenger flights for another two to three months, but if successful, the flights would mark an important milestone in Iraq's economic development.
"It will also be a chance, a new chance for the development of business between France and Iraq but more globally, between Europe and Iraq," said France's top trade official, Anne-Marie Idrac, who was on board the flight.
Some carriers, such as Austrian Airlines, fly from western Europe to the Kurdish city of Irbil. Regional airlines such as the Abu Dhabi-based Etihad Airways, Bahrain's Gulf Air, the Beirut-based MEA airline and Turkish Airlines fly to the Iraqi capital.
But there are no direct passenger flights between Baghdad and western Europe. Stockholm-based Nordic Airways launched commercial flights to Baghdad from Copenhagen, Denmark, in January 2009 but its operating license was revoked later that month.
The lack of major European carriers flying to Baghdad shows the difficulties the country is having attracting major foreign investments in anything but the surest economic bets. Although some Western companies placed bids in the country's first round of oil licensing last year, it was only for the biggest and safest fields.
When the airline began planning the route about a year ago, they wanted to begin passenger service immediately after the inaugural flight, said the president of Aigle Azur's executive board, Francois Hersen. But there wasn't enough passenger interest, in part due to Iraq's political and security problems.
The country is in its eighth month without a new government after March 7 national elections failed to produce a clear winner. And violence, although much reduced, continues to claim lives.
Hersen said the airline is confident they'll have enough customers when flights start in earnest early next year.
Attempts by Iraq's national carrier, Iraqi Airways, to launch flights to London in April were swiftly quashed when lawyers for neighboring Kuwait tried to confiscate the inaugural plane upon landing in London to settle debts related to Iraq's 1990 invasion of Kuwait.
The Aigle Azur flight, which took off late Saturday from Paris, carried a delegation of French business leaders planning to attend the Baghdad International Fair, an annual showcase designed to attract businesses to Iraq.
When regular flights begin early next year, the French airline plans to fly into Baghdad twice a week from Paris' Charles de Gaulle airport.
A ticket for one of the 124 economy seats will be about 1,500 euros, or $2,100. The 24 business class seats on the Airbus A319 will cost around 2,500 euros, or $3,500, each, Hersen said.
Aigle Azur is a French carrier operating out of Paris's Orly and Charles de Gaulle airports that mainly flies to locations in Africa such as Algeria, Mali, Morocco and Tunisia. They also operate flights to the French cities of Lille, Lyon, Marseille, Mulhouse and Toulouse.
The German carrier Deutsche Lufthansa AG was slated to begin regular flights between Munich and Baghdad Sept. 30 but canceled them due to a lack of customer interest.
The news was a blow to Iraq's hopes to reconnect Baghdad with international capitals since most Western airlines discontinued flights to the city after the 1991 Gulf War.
Many potential investors still view Iraq with trepidation.
"We are worried about security. We would not be able to come (to Iraq) by ourselves. The cost of security is too important to us," said a businessman on the flight, Lionel Cuenca, from the French company Gindre Duchavany, which specializes in copper products.
For years, many regional and Western carriers shied away from Iraq due to safety concerns. The few airlines that did fly in and out of the airport, formerly named after Saddam Hussein, performed a tight corkscrew when landing, a spiraling maneuver designed to protect them from missile attack.
Copyright 2010 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Bomb plot just narrowly averted, officials say
ADAM GOLDMAN - AP - Sun Oct 31, 4:39PM CDT
Yemeni security forces stand outside the UPS office in the capital San'a, Yemen Sunday, Oct. 31, 2010. Their first suspect in custody, Yemeni police continued to search for those believed...
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FDX - Fedex Corporation
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WASHINGTON (AP) — The mail bomb plot stretching from Yemen to Chicago may have been aimed at blowing up planes in flight and was only narrowly averted, officials said Sunday, acknowledging that one device almost slipped through Britain and another seized in Dubai was unwittingly flown on two passenger jets.
Senior U.S. officials met to develop a U.S. response to the al-Qaida faction linked to the powerful explosives addressed to synagogues in Chicago.
Investigators were still piecing together the potency and construction of two bombs they believed were designed by the top explosives expert working for al-Qaida in the Arabian Peninsula, the Yemen-based militant faction thought to be behind the plot. Yemeni authorities hunted suspects linked to the group, but released a female computer engineering student arrested Saturday, saying someone else had posed as her in signing the shipping documents.
But authorities admitted how close the terrorists came to getting their bombs through, and a senior U.S. official said investigators were still trying to figure out if other devices remained at large.
"We're trying to get a better handle on what else may be out there," deputy national security adviser John Brennan told NBC's "Meet the Press" on Sunday. "We're trying to understand better what we may be facing." He told CNN's "State of the Union" that "it would be very imprudent ... to presume that there are no others (packages) out there."
Brennan said authorities are "looking at the potential that they would have been detonated en route to those synagogues aboard the aircraft as well as at the destinations. But at this point we, I think, would agree with the British that it looks as though they were designed to be detonated in flight." He made those remarks on CBS' "Face the Nation."
British Prime Minister David Cameron had raised the possibility the bombs were aimed at blowing up the planes carrying them, but Brennan and other officials had previously concentrated more on the threat to the American synagogues.
One of the explosive devices found inside a shipped printer cartridge in Dubai had flown on two airlines before it was seized, first on a Qatar Airways Airbus A320 jet to Doha and then on an as-yet-undisclosed flight from Doha to Dubai. The number of passengers on the flights were unknown, but the first flight had a 144-seat capacity and the second would have moved on one of a variety of planes with seating capacities ranging from 144 to 335.
Such a plot aimed at blowing up jets in flight is not new for al-Qaida. A mid-1990s scheme hatched by now-imprisoned terrorist mastermind Khalid Sheikh Mohammed aimed to bring down a dozen jets simultaneously, but the plan was shelved in favor of the "flying bomb" approach used during the 9/11 attacks.
After masterminding the attempt last December to blow up a U.S.-bound airliner with explosives hidden in a passenger's underwear, the Yemen terror affiliate appears to have nearly pulled off its own audacious plot capitalizing on weak points in the world's aviation security and cargo systems.
The U.S. has tried in the past to kill or capture the group's leaders, but the American response to the thwarted attacks was still being developed Sunday. Brennan headed a meeting of national security and intelligence officials at the White House to determine the U.S. response in concert with a Yemeni government that has been reluctant to give free rein to the American military in taking on the militants.
About 50 elite U.S. military experts are in Yemen training its counterterrorism forces and Washington is giving $150 million in military assistance to Yemen this year for helicopters, planes and other equipment.
A Yemeni official said Sunday his government is aiming for a "surgical" response with the help of the U.S. against the cell that carried out the plot. The official spoke on condition of anonymity because of the sensitivity of the talks.
As the two countries decide a course of action, new details have emerged about the events leading up to the near-disaster. U.S. officials said a call from Saudi intelligence with information about packages containing explosives led to a frantic search in Dubai and England.
"It was a race against the clock to find those packages, to neutralize them," Brennan told CNN.
German Interior Minister Thomas de Maiziere said German Federal Police were tipped off to the suspicious package on the cargo plane Friday. The package was flown from Yemen to Cologne-Bonn airport, where UPS has its hub. From there it was transferred to a plane bound for Britain's East Midlands airport in central England.
De Maiziere said that by the time German officials received the information, the package was already en route to Britain. The Germans then alerted their British colleagues, who had also been contacted by the Saudis.
The cargo plane landed in the dead of night at East Midlands Airport on what seemed like a routine trans-Atlantic run. The plan was to stop at the relatively small airport that that handles both passengers and cargo, then continue to Philadelphia and Chicago.
There was almost no movement at the airport when the flight landed shortly after 3 a.m., and British officials removed cargo from the plane for an extensive search. As a standard precaution, a cordon was put in place outside the cargo area of the airport, even though there was very little traffic in before dawn.
But the search came up empty. Even a computer printer cartridge later found to contain plastic explosives was cleared, and the cordon was removed at around 10 a.m., restoring traffic flow.
The incident seemed almost over — but then officials in Dubai told their British counterparts that a suspicious computer printer cartridge had been found to contain the lethal explosive PETN, or pentaerythritol tetranitrate.
The Dubai officials told British police precisely how to pinpoint the explosive, which was carefully placed to pass through an X-ray machine undetected.
The cordon went back up, the search teams went back in and this time they found the deadly explosive, judged capable of blowing up a plane in flight.
What happened in Dubai was even more troubling. The bomb had traveled on two commercial passenger planes, a Qatar Airways spokesman said.
The package with the second bomb arrived in Qatar Airways' hub in Doha, Qatar, on one of the carrier's flights from the Yemeni capital San'a. It was then shipped on a separate Qatar Airways plane to Dubai in the United Arab Emirates, where it was discovered by authorities late Thursday or early Friday.
British Home Secretary Theresa May said the plotters would not have been able to control where the bombs detonated because cargo planes often change their routes at the last minute. She said it was unclear if the bomb found at East Midlands Airport would have exploded over Britain or the United States.
She said the device was capable of downing an aircraft if detonated while the plane was in flight.
Forensic analysis indicates the same bombmaker had a hand in the devices used in the failed bombing on a Detroit-bound airliner last Christmas and the attack on Saudi Arabia's counterterrorism chief last year. All three bombs contained PETN. The latest bombs have been described as sophisticated and professional.
U.S. intelligence officials believe the suspected bombmaker is a 28-year-old Saudi named Ibrahim Hassan al-Asiri, who is believed to be in Yemen. His own brother, Abdullah, died in the attack against the Saudi counterterrorism chief.
U.S. intelligence is also looking at U.S.-born cleric Anwar al-Awlaki, who has been linked to the Christmas attack and has inspired other terrorists with his violent message. He's also believed to be hiding in Yemen.
The Yemeni official said that while more than one source has indicated that al-Awlaki blessed this operation, the cleric is not believed to be involved in the operational planning.
____
Schreck reported from Dubai. Matt Apuzzo and Kimberly Dozier in Washington, Melissa Eddy in Berlin and Gregory Katz in London also contributed to this report.
Copyright 2010 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Tomas heads into Carib after whipping east isles
GUY ELLIS - AP - Sun Oct 31, 1:51AM CDT
People look at a sunken boat after Tropical Storm Tomas affected downtown Bridgetown, Barbados, Saturday Oct. 30, 2010. (AP Photo/Chris Brandis)
CASTRIES, St. Lucia (AP) — Hurricane Tomas headed deeper into the Caribbean early Sunday after storming over a cluster of islands at the sea's eastern entrance, tearing off roofs, damaging houses and downing power lines.
The storm was moving over open water on a path that could take it near Jamaica later in the week.
Authorities in St. Vincent said they had unconfirmed reports that three people died during the storm Saturday, including two men who might have been blown off a roof.
Jimmy Prince, emergency management spokesman for St. Vincent, said fierce winds tore roofs from nearly 100 homes and more than 400 people sought emergency shelter as the island plunged into darkness.
"Many of them are workers who were unable to get off Mustique," he said, referring to a tiny island just south of St. Vincent.
On St. Lucia, high winds tore off the roofs of a hospital, a school and a stadium and toppled a large concrete cross from the roof of a century-old church, government officials said.
Heavy rains caused a landslide that blocked a main highway linking the capital to the island's southern region.
The government ordered two airports and all businesses closed and people called radio stations to admonish parents who were letting children play in the streets, where trees and power lines were falling.
"This is no joke," said calypso singer Nintus, one of the callers.
Organizers of the island's biggest Creole festival called off the event due to the storm, disappointing both would-be revelers and dozens of vendors who traveled to the capital to sell vegetables, fruits and other provisions.
"All my preparations have gone down the drain," said vendor Theckla Darius, from the rural community of Fond Assau. "It's been a lot of effort for nothing."
At least 20,000 people were without power on Martinique, and streets flooded and tree branches were down. A cruise ship carrying nearly 2,000 tourists docked instead in Dominica.
Tomas earlier toppled power lines and damaged houses in Barbados as a tropical storm.
The U.S. National Hurricane Center in Miami said Thomas had maximum sustained winds of 100 mph (155 kph) winds early Sunday and was centered about 95 miles (140 kilometers) west of St. Lucia. It was moving west-northwest at 8 mph (13 kph).
Forecasts said the Atlantic season's 12th hurricane could drop up to 6 inches (15 centimeters) of rain in the region.
The U.S. hurricane center said Tomas was likely to strengthen as it moved toward Jamaica and could unleash heavy rains on southern areas of the Dominican Republic and Haiti, which is struggling to recover from a devastating earthquake and cope with a recent cholera outbreak.
Haiti issued an orange storm alert, the second highest level. Authorities warned southern and western regions — including the quake-ravaged capital of Port-au-Prince, where an estimated 1.3 million people are living in tent camps — to be on guard for high winds, thunderstorms and possible flooding.
But with few usable storm shelters and no feasible evacuation plan, residents will largely be on their own.
___
Associated Press writers Duggie Joseph in Kingstown, St. Vincent and Rodolphe Lamy in Fort-de-France, Martinique contributed to this report.
Copyright 2010 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Japan, Vietnam agree on rare earths, nuclear power
AP - Sun Oct 31, 5:43AM CDT
HANOI, Vietnam (AP) — Japanese Prime Minister Naoto Kan says Vietnam has chosen Japan as a partner to mine rare earth metals and help build the Communist country's second nuclear power plant.
Kan told reporters Sunday that Vietnam selected Japan for both projects during a meeting with his Vietnamese counterpart, Nguyen Tan Dung, in Hanoi.
Japan earlier this month announced plans to begin mining in Vietnam for rare earth metals used in high-tech manufacturing, in a bid to reduce its dependence on China.
China has blocked rare earths shipments to Japan following a diplomatic spat between the two countries involving disputed islands in the East China Sea.
Copyright 2010 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Will UK's cuts force poor families out of London?
DAVID STRINGER - AP - Sun Oct 31, 6:04AM CDT
This photo of Thursday, Oct. 7, 2010 shows housing in central London taken from the top of the BT tower. It's been at the heart of London's identity for decades: Bakers and bankers live on the...
LONDON (AP) — It's been at the heart of London's identity for decades: Bakers and bankers live on the same city streets in patchwork neighborhoods where swank mansions sit in the shadow of grim tower blocks, and residents from all walks of life mingle in shops, schools and subway stations.
Now Britain's debt-shredding austerity measures will slash housing benefit payments used to subsidize rents for the low-paid, threatening to price tens of thousands of poor families out of their homes and force them toward the fringes of the country's capital — an exodus that could permanently erode London's famed ethnic, economic and cultural mix.
Outspoken London Mayor Boris Johnson likens the plan to "Kosovo-style social cleansing." Some fear London will become more like Paris, where rich elites monopolize the city center and the poor stagnate in decaying housing projects ringing the capital.
But in tough times, others wonder if Britain can still afford to help ordinary workers find homes in a city center that keeps getting pricier, even as the overall economy shows only sluggish growth.
As part of 81 billion pounds ($128 billion) of spending cuts announced last week to help wipe Britain's crippling debts, limits will be placed on the amount given to the poor to help them pay their rent.
One estimate predicts an exodus of about 200,000 people from central London, with low earning families forced toward down-at-heel outer suburbs and far-flung commuter towns — leaving the capital's streets reserved for the rich.
Critics worry the famously rowdy working class enclaves of London's East End — which gave Britain its defiant wartime spirit of the Blitz — will fall silent, and that the city's multicultural character could be lost.
"One of the best things about London is precisely that it is not like Paris — you have very rich people and people in social housing all living along the same street," said Sian Berry, a former candidate for London mayor and part of the "No Shock Doctrine" campaign protesting against the government's cuts.
"Those people all use the same public services, the same shops, the same schools and the same transport — it helps make people more tolerant of each other," she said.
Under the government's plans, which will be debated in Parliament and are yet to be finalized, a new limit will be set for the maximum amount families can claim to pay for privately rented homes, and no family will be able to use welfare payments to rent a home with more than 4 bedrooms.
Britons who earn less than 16,000 pounds (US$25,500) per year and have only limited savings are entitled to claim housing benefit — which can be used to rent a house or flat, but not for mortgage payments.
Those who rent from private landlords have their benefits calculated using an average rental price in their local area. Until now, benefits have helped make sure people can afford the cheapest 50 percent of properties up for rent in their district; next October that will be reduced to the cheapest 30 percent. From April, payments will be capped at 250 pounds ($400) per week for a one-bedroom apartment and at 400 pounds ($640) per week for a four-bedroom house.
If rents are higher than the cap, tenants must make up the difference — or leave town.
"It is hard enough to scrounge up enough money every month as it is. If the changes go through, we will definitely have to move," said Lena Tedesco, a 36-year-old unemployed mother from Camden, in north London.
Tedesco has three children aged under 6, and already uses money from sporadic cleaning jobs to top up her housing benefit and meet the cost of a two-bedroom apartment.
Like many benefit claimants, Tedesco said she's terrified that under the changes she'll no longer be able to make ends meet. "I know it'll involve moving, probably outside London — it's absurd," she said. "We'd have to move away from our family, friends, look for another school. Its very upsetting."
Campbell Robb, chief executive of housing charity Shelter, said the welfare cuts could "change the face of London forever."
"We are extremely concerned that this will not only lead to increased levels of homelessness and overcrowding, but will mean children ripped out of their schools, and families forced miles away from their jobs and communities in search of an affordable place to live," Robb said.
London Councils, an umbrella group that represents the capital's local authorities, estimates 82,000 households — the equivalent of about 200,000 adults and children — could be priced out of their current home.
Sought-after districts like Westminster, Chelsea, Kensington and Camden — which host a mix of exclusive homes and modest apartment blocks — would become "no-go" areas for the poor, the organization said.
John Reiss, a 47-year-old garbage collector who lives in Camden, said the changes would force him to move and find a new job. "I probably wouldn't be able to stay in London. It would turn my whole world upside down," he said.
Prime Minister David Cameron is axing 18 billion pounds (US$29 billion) from the country's welfare bill to help pare down on Britain's budget deficit.
Already, he has angered middle-class voters with plans to scrap child benefit payments to about 1.5 million families. The outcry over housing welfare shows the difficulties he will face driving through a harsh five-year program of cuts.
But supporters of the new housing plan say Britain can't ignore the fact house prices and rents are sky-high in inner city London, where once rundown neighborhoods were transformed in the boom years.
Opponents are "trying to deny the basic reality that it will tend to be richer people living in more expensive areas," said Matthew Sinclair, of the Taxpayers' Alliance campaign group.
Defending the plan in the House of Commons, Cameron said the majority of the public was "working hard to give benefits to other people to live in homes that they themselves cannot dream of, and I do not think that is fair."
Karen Buck, a Labour party legislator who represents the Westminster North district in Parliament, said that — while some extreme cases involve benefit claimants receiving large sums to live in sought-after streets — most of the 5 million people who get public help paying rent are struggling low-paid workers who end up living in modest quarters in ordinary neighborhoods.
"There are an overwhelming majority of people who are claiming benefit to keep a roof over their heads, simply because they don't earn enough money," Buck said.
Labor unions have long warned that many people in ordinary jobs — nurses, teachers and care workers — can't afford a home in the city. Figures uncovered by Buck show almost half of London police officers already live outside the capital.
"Cities are dynamic, but if you force social change at the scale and pace that this could mean, then are you heading for trouble," Buck said.
___
Associated Press writer Gillian Smith contributed to this report
Copyright 2010 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Deal or punt decision on Bush tax cuts is Obama's
ANDREW TAYLOR - AP - Mon Nov 01, 2:43AM CDT
FILE - In this May 4, 2009, file photo President Barack Obama makes a statement on tax reform with Treasury Secretary Timothy Geithner, left, in the Grand Foyer of the White House in Washington....
WASHINGTON (AP) — Will Congress extend the Bush tax cuts into 2011 in the weeks after Tuesday's election or let the automatic increase start cutting into most people's paychecks early next year?
It's really pretty much up to President Barack Obama.
Despite the punishment his fellow Democrats are expected to take from voters, Obama has shown no sign of retreating from his insistence that families and small businesses with incomes above $250,000 return to higher, Bill Clinton-era tax levels starting Jan. 1.
But Obama also has dodged the question whether he would veto a bill that extends the tax cuts for everyone.
The expiring tax cuts were enacted in 2001. They include lower income tax rates, a $1,000 per-child tax credit, relief for married couples, and lower taxes on investments and large estates.
Many longtime Congress-watchers think it'll come down to two options: extending the full roster of former President George W. Bush's tax cuts for a year in a lame-duck session that opens Nov. 15, or punting the issue until next year for Obama and a new, more Republican Congress to figure out.
Republicans are hoping to ride a wave of economic fears and anti-Washington anger to a possible takeover of the House and at least several more seats in the Senate. They're certain to stand firm on their promise to extend the Bush-era tax cuts in their entirety. Democrats were divided on the issue even before the election.
About three dozen mostly moderate House Democrats and a few Senate Democrats already oppose Obama's position on raising rates for the wealthy. So do Gov. Joe Manchin, D-W.Va., and Chris Coons, D-Del., who would immediately join the Senate if elected Tuesday. If the question were actually put to votes in Congress, the GOP might win.
From a purely political perspective, Obama can solidify his standing with the Democratic base by fighting for his position or appeal to the middle by showing an ability to work with Republicans.
"The most likely outcome is a one-year extension of everything," said Democratic lobbyist Steve Elmendorf. "The second most likely outcome is nothing happens."
"The middle class has to get more than a few Tootsie rolls in their treat bag for Halloween here. We just can't keep this policy of having the wealthiest get the biggest chunk of these tax cuts," said Sen. Amy Klobuchar, D-Minn.
Appearing with her on CBS' "Face the Nation," GOP Rep. Peter King of New York said "it's only the last few weeks we've heard any talk of a compromise at all."
Elmendorf said Obama should cut a deal because letting the tax cuts expire would be a political disaster. "Showing that he can work with Republicans in the postelection atmosphere is going to be important, and this is the first way to do it," he said.
Sen. John Cornyn, D-Texas, appearing Sunday on ABC's "This Week," envisioned a deal that continues all the Bush tax cuts "for the near term, perhaps the next couple of years. Perhaps there's a bipartisan solution there."
Regardless of how the battle turns out this fall, the Bush tax cuts will be in effect for purposes of next year's filing season. If the tax cuts expire as scheduled on Dec. 31 but are renewed early next year, workers might see smaller paychecks for only a while, assuming the Internal Revenue Service issues withholding tables that reflect a return to pre-Bush tax rates.
That could mean about $50 less spending money each week for the household earning $50,000 and almost $90 less per week for the family making $100,000.
Washington-based tax expert Ken Klies predicts that once Congress acts, the IRS quickly will rejigger the withholding tables so taxpayers recover the earlier higher withholdings.
If the tax cuts were allowed to expire indefinitely, a typical family of four with a household income of $50,000 a year would face $2,900 more in taxes in 2011, according to Deloitte Tax LLP, a tax consulting firm. The same family making $100,000 a year would see its taxes rise by $4,500.
Equally problematic for taxpayers if Congress doesn't act is the alternative minimum tax, enacted four decades ago to make sure the wealthy pay at least some tax.
Congress makes temporary fixes every year or two to prevent it from hitting middle- and upper-middle-class families. The last fix expired in January. Without another, 26 million families would face tax bills in April averaging $2,600 higher, according to congressional estimates.
Whatever the decision, it will have big political and policy implications. Making all the tax cuts permanent would add about $3.9 trillion to the national debt over the next decade. Obama's plan to make the wealthy pay more would reduce that added debt by about $700 billion.
"You can argue it either way, but I think the first issue for the president will probably be restoring confidence in him amongst his base," said pollster Andrew Kohut of the Pew Research Center for the People and the Press. "On the other hand, he has to address independents, who are more inclined to want to see compromise and the branches of government working together."
"Disfunction means the only thing that can get done is the easiest thing, and the easiest thing is a one-year extension," said Republican strategist John Feehery, a former longtime Capitol Hill aide.
Vice President Joe Biden seemed to suggest a willingness to compromise in an Oct. 22 interview on Bloomberg TV.
Asked whether the administration was willing to compromise on the $250,000 threshold, Biden said, "I think it is important we get the middle-class tax cut made permanent. And so I think we are open to speak to the Republicans, if they really mean it, if they are talking about deficit reduction, if they are willing to move."
That's probably a debate for next year, not the lame-duck session.
Copyright 2010 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Expiring Bush Tax Cuts
The Associated Press - AP - Mon Nov 01, 2:44AM CDT
Tax cuts enacted in 2001 and 2003 are to expire in January unless Congress renews them.
The highlights:
—Income tax rates were reduced, to a bottom rate of 10 percent and a top rate of 35 percent. If the cuts expire, the bottom rate would increase to 15 percent, the top rate would rise to 39.6 percent, and several rates in between would increase as well.
—The child tax credit was increased from $500 per child to $1,000 per child.
—Marriage penalty relief. The standard deduction for married couples was increased, easing the tax hit on many married couples.
—Capital gains taxes were cut, with the top rate dropping from 20 percent to 15 percent.
—Taxes on dividends were cut. Instead of taxing dividends at the same rate as earned income, with a top marginal rate of 39.6 percent, the top rate was set at 15 percent.
—The federal estate tax, which had a top rate of 55 percent, was gradually reduced, then repealed for 2010. It is scheduled to return to 55 percent next year, with a $1 million exemption.
—The Alternative Minimum Tax is adjusted each year to spare more than 30 million middle-income families from a tax increases averaging $3,700. The tax was enacted in 1969 to make sure wealthy people couldn't avoid taxes altogether, but it wasn't indexed for inflation.
___
Sources: Joint Committee on Taxation; Tax Policy Center.
Copyright 2010 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Supreme Court to hear violent video game case
DERRIK J. LANG - AP - Sun Oct 31, 9:23AM CDT
FILE - In this Oct. 7, 2005 file photo, California Gov. Arnold Schwarzenegger signs AB 1179 bill restricting the sale and rental of violent video games to minors as Sacramento Girl Scouts look on...
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LONG BEACH, Calif. (AP) — Before picking up any Wii games or downloading apps on her iPhone for her two daughters, Lillian Quintero does her homework. She'll first read reviews online and in magazines, then try them out for herself. If she thinks the games are engaging and educational enough, 4-year-old Isabella and 2-year-old Sophia are free to play.
"I know there's going to be a point where they get these things on their own," said the 35-year-old mother from Long Beach, Calif. "We're not going to be there to monitor everything. That's why the most important thing is communication, instilling morals and values in them and helping them to understand certain boundaries. There's only so much you can do."
Quintero and her husband, Jorge, are some of the parents who support a California law that seeks to ban the sale and rental of violent games to children. The law, which has bounced around the legal system like a game of "Pong" since Gov. Arnold Schwarzenegger first signed it in 2005, was declared unconstitutional last year by the 9th U.S. Circuit Court of Appeals in San Francisco.
The U.S. Supreme Court will hear arguments Tuesday about the federal court's decision to throw out California's ban on violent games, marking the first time a case involving the interactive medium itself has gone before the Supreme Court. It's another sign that the $20 billion-a-year industry, long considered to be just child's play, is now all grown up.
California's measure would have regulated games more like pornography than movies, prohibiting the sale or rental of games that give players the option of "killing, maiming, dismembering, or sexually assaulting an image of a human being" to anyone under the age of 18. Only retailers would be punished with fines of up to $1,000 for each infraction.
The federal court said the law violated minors' constitutional rights under the First and Fourteenth amendments and the state lacked enough evidence to prove violent games cause physical and psychological harm to minors. Courts in six other states, including Michigan and Illinois, have reached similar conclusions, striking down parallel violent game bans.
Under California's law, only adults would be able to purchase games like "Postal 2," the first-person shooter by developer Running With Scissors that features the ability to light unarmed bystanders on fire, and "Grand Theft Auto IV," the popular third-person shoot-'em-up from Rockstar Games that allows gamers to portray carjacking, gun-toting gangsters.
The Quinteros, like most supporters, believe the law will protect children from buying such violent titles, while gamers and free speech advocates think California's ban could lead to strict federal regulation on the content of games and other media. All agree, however, that the graphically rich medium has come a long way from 8-bit tennis matches.
The average age of gamers is 34, according to the Entertainment Software Association, and many are paying close attention to the Supreme Court case. The Entertainment Consumers Association, which lobbies on behalf of gamers, is organizing a rally outside the Supreme Court building Tuesday as "a way of sending a strong message and uniting gamers."
"It's not so much a video game case as a First Amendment case," said George Rose, chief public policy officer at Activision Blizzard Inc., the Santa Monica, Calif.-based publisher of the popular "Call of Duty" and "Guitar Hero" gaming franchises. The gamemaker filed a friend-of-the-court brief opposing California's ban, which was never enforced.
Other allies in the fight include Xbox manufacturer Microsoft Corp., "Star Wars" publisher LucasArts, The Recording Academy, Motion Picture Association of America, as well as the Entertainment Merchants Association and Entertainment Software Association, which sued to block California's ban, calling it "unnecessary, unwarranted and unconstitutional."
Opponents of the ban have called the measure unnecessary because virtually all major game publishers and retailers employ a universal voluntary rating system, much like movie studios and theaters, that assigns one of eight age-specific ratings to games, then blocks the sale of games that are rated M for "mature" and AO for "adults only" to children.
The gaming industry has actually done a better job of preventing minors from buying entertainment not intended for their age group than the music and film industries, according to the Federal Trade Commission. In a report released last year, the FTC found that 20 percent of minors were able to buy M-rated games, down from 42 percent three years earlier.
In contrast, 72 percent of minors were able buy music CDs with explicit content warnings, 50 percent were sold R-rated and unrated DVDs and 28 percent purchased tickets to R-rated movies. The FTC noted there were gaps in enforcement of age-based sales restrictions, specifically with the use of gift cards in online purchases and unrestricted mobile games.
The Parents Television Council, which supports California's ban on violent games, conducted its own secret shopper campaign this year with children between the ages of 12 and 16 attempting to buy M-rated games at 109 stores in 14 states. The group found 21 instances of retailers, including Target, Kmart, Sears and Best Buy, selling M-rated games to minors.
Leland Yee, the Democratic state senator and child psychologist who originally authored the law, contends the gaming industry's rating system is not effective because of the sweeping scope of games, which are longer and more intricate than movies. Yee said he believes violent games are more harmful to children because of the medium's interactive nature.
"This isn't an attack on the First Amendment," said Yee. "I'm a supporter of the First Amendment. This is about not making ultra violent video games available to children. Within the bill, the definition of a violent video game is so narrowly tailored because of my respect for the First Amendment. This isn't to stop the creation of violent video games."
Yee's position hasn't stopped the Entertainment Software Association's Video Game Voters Network from targeting him. The group has asked gamers to write "I believe in the First Amendment" on old or broken controllers and send them to Yee. When asked about the joystick campaign, the senator scoffed and said that any gifts he received would be returned.
The Quinteros, who practice yoga poses in their living room during rounds of "Wii Fit," won't be sending their Wii Balance Board to Yee. While they believe it's ultimately up to parents to police what games their children play, Lillian and Jorge agree that they would feel more comfortable if violent games were legally off limits from being sold to kids.
"It's one less way for children to have access to it," said Jorge, a 35-year-old middle school teacher who recently bought an iPad. "It's common sense. You don't pick a weenie off the grill with your hands because you know your hand will get burned. We shouldn't let children buy something violent that they don't think will affect them."
___
AP Technology Writer Barbara Ortutay in New York contributed to this report.
___
Online:
http://www.supremecourt.gov/
Copyright 2010 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Hurricane Tomas weakens to Category 1 storm as it moves across Caribbean Sea
AP - Sun Oct 31, 10:10AM CDT
MIAMI (AP) — Hurricane Tomas weakens to Category 1 storm as it moves across Caribbean Sea.
Copyright 2010 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Italy, France likely for tax deal with Switzerland
AP - Sun Oct 31, 10:31AM CDT
GENEVA (AP) — Italy and France are likely to be the next two countries to reach deals with Switzerland over bank secrecy, a top Swiss banker was quoted as saying Sunday.
The chairman of the Swiss Bankers Association, Patrick Odier, told weekly NZZ am Sonntag that Italy and France have shown interest in deals like ones Switzerland signed this week with Germany and Britain.
"I expect that France and Italy, with whom we have already had preliminary talks, have an interest in better understanding what Switzerland has to offer," Odier was quotes and saying.
The deals are broadly aimed at preventing companies and individuals from being taxed twice, and they also makes it easier to obtain information on suspected tax cheats hiding assets in secret Swiss bank accounts. Germany was especially vocal in accusing Switzerland of shielding tax cheats.
Germany and Switzerland also agreed to work toward a solution for legacy assets, or money already deposited into Swiss accounts prior to the deal.
Switzerland has proposed a special withholding tax on such assets that would allow account owners to remain anonymous and therefore escape prosecution. Swiss media have reported that such a tax could earn Germany a windfall of several billion euros.
Odier said it was too early to determine how much money would flow out of Switzerland as a result of such deals, but he said that the Swiss banking industry's reputation for wealth management would secure its future.
He cited the case of Italy's tax amnesty last year that saw billions flow back to Italy as a precedent.
"First the money flowed out of Switzerland, and later it came back. Customers wanted to have their money conform with tax laws. The money came back because Switzerland is more stable, competent and secure," Odier said.
Copyright 2010 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
'Saw 3D' takes top box-office slice with $24.2M
DAVID GERMAIN - AP - Sun Oct 31, 12:10PM CDT
In this film publicity image released by Lionsgate Entertainment, Gina Holden is shown in a scene from, "Saw 3D." (AP Photo/Lionsgate Entertainment, Brooke Palmer)
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LOS ANGELES (AP) — Psychokiller Jigsaw has come back to life at the box office.
Lionsgate's "Saw 3D," billed as the final installment in the series about Jigsaw's legacy of bloody terror, debuted as the Halloween weekend's No. 1 movie with $24.2 million, according to studio estimates Sunday.
That was $10 million more than the debut of last year's "Saw VI," the first dud in the annual horror franchise.
"Last year, a lot of people said, 'OK, that's it. Put a fork in it, it's done,'" said David Spitz, head of distribution for Lionsgate. "The following week, we were all disappointed and thought, what can we do to reinvigorate the franchise? So we shot the movie in 3-D and said this is the final chapter."
It paid off, though "Saw 3D" still brought a modest return compared to earlier chapters in the "Saw" series, whose second, third, fourth and fifth movies all topped $30 million over opening weekend.
"Saw 3D" also had a soft debut compared to the previous weekend's No. 1 movie, Paramount's "Paranormal Activity 2," a newer fright franchise that opened with $40.7 million. "Paranormal Activity 2" slipped to No. 2 this weekend, raising its total to $65.7 million.
"Seven years into it, obviously, that's a long time for one franchise to hold up year after year," said Paul Dergarabedian, box-office analyst for Hollywood.com. "Other types of horror movies have come into vogue. 'Saw' is part of that whole torture-porn genre, which has gone from great success to lesser success. But they've had a good run. There's nothing to complain about here."
"Saw 3D" also had the benefit of premium prices for 3-D screenings, which cost a few dollars more than tickets for 2-D movies. According to Lionsgate, 3-D projection accounted for roughly 77 percent of "Saw 3D" screenings but 92 percent of the movie's revenues.
Summit Entertainment's action comedy "Red" continued to hold up well, finishing at No. 3 with $10.8 million and lifting its total to $58.9 million.
Another franchise playing in 3-D for the first time, Paramount's "Jackass 3D," crossed the $100 million mark, coming in at No. 4 with $8.4 million. The stunt and prank comedy raised its haul to $101.6 million.
In narrower release, Fox Searchlight's legal drama "Conviction" broke into the top-10 after two weeks in a handful of theaters. Starring Hilary Swank in the real-life story of a woman who put herself through law school to free her brother on a murder rap, "Conviction" was No. 10 with $1.8 million, playing in 565 theaters and averaging a modest $3,230 a cinema.
That compared to an $8,618 average in 2,808 theaters for "Saw 3D."
Also in narrower release, Music Box Films had solid results for "The Girl Who Kicked the Hornet's Nest," which follows "The Girl With the Dragon Tattoo" and "The Girl Who Played With Fire" to finish the trilogy based on late author Stieg Larsson's best-selling thrillers.
"Hornet's Nest" took in $735,000 in 121 theaters, averaging $6,074 a cinema. The Swedish-language film has Larsson's troubled savant Lisbeth Salander (Noomi Rapace) targeted by ruthless conspirators.
Director David Fincher is shooting Sony Pictures' English-language remake of "The Girl With the Dragon Tattoo," starring Rooney Mara and Daniel Craig. The movie is due in theaters in December 2011.
Estimated ticket sales for Friday through Sunday at U.S. and Canadian theaters, according to Hollywood.com. Final figures will be released Monday.
1. "Saw 3D," $24.2 million.
2. "Paranormal Activity 2," $16.5 million.
3. "Red," $10.8 million.
4. "Jackass 3D," $8.4 million.
5. "Hereafter," $6.3 million.
6. "Secretariat," $5.1 million.
7. "The Social Network," $4.7 million.
8. "Life as We Know It," $4 million.
9. "The Town," $2 million.
10. "Conviction," $1.8 million.
___
Online:
http://www.hollywood.com/boxoffice
___
Universal Pictures and Focus Features are owned by NBC Universal, a unit of General Electric Co.; Sony Pictures, Sony Screen Gems and Sony Pictures Classics are units of Sony Corp.; Paramount and Paramount Vantage are divisions of Viacom Inc.; Disney's parent is The Walt Disney Co.; Miramax is a division of The Walt Disney Co.; 20th Century Fox, Fox Searchlight Pictures and Fox Atomic are owned by News Corp.; Warner Bros. and New Line are units of Time Warner Inc.; MGM is owned by a consortium of Providence Equity Partners, Texas Pacific Group, Sony Corp., Comcast Corp., DLJ Merchant Banking Partners and Quadrangle Group; Lionsgate is owned by Lions Gate Entertainment Corp.; IFC Films is owned by Rainbow Media Holdings, a subsidiary of Cablevision Systems Corp.; Rogue Pictures is owned by Relativity Media LLC; Overture Films is a subsidiary of Liberty Media Corp.
Copyright 2010 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Pontiac, maker of muscle cars, ends after 84 years
TOM KRISHER - AP - Sun Oct 31, 1:40PM CDT
FILE - In this Oct. 9, 2002 file photo, the hood ornament of a 1967 Pontiac GTO in Sturtevant, Wis., is shown. Pontiac, whose GTO and Firebird muscle cars defined fast rides, drive-ins and...
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DETROIT (AP) — Pontiac, whose muscle cars drag-raced down boulevards, parked at drive-ins and roared across movie screens, is going out of business on Sunday.
The 84-year-old brand, moribund since General Motors decided to kill it last year as it collapsed into bankruptcy, had been in decline for years. It was undone by a combination of poor corporate strategy and changing driver tastes. On Oct. 31, GM's agreements with Pontiac dealers expire.
Even before GM's bankruptcy, Pontiac's sales had fallen from their peak of nearly one million in 1968, when the brand's speedier models were prized for their powerful engines and scowling grills.
At Pontiac's pinnacle, models like the GTO, Trans Am and Catalina 2+2 were packed with horsepower and sported colors like "Tiger Gold." Burt Reynolds and Sally Field fled the law in a Firebird Trans Am which raced through the 1970s hit movie "Smokey and the Bandit."
By the late 1980s, though, Pontiacs were taking off their muscle shirts, putting on suits and trying to act like other cars. The brand had lost its edge.
Bill Hoglund, a retired GM executive who led Pontiac during its "We Build Excitement" ad campaigns in the 1980s, blames the brand's demise on a reorganization under CEO Roger Smith in 1984. That overhaul cut costs by combining Pontiac's manufacturing, engineering and design operations with those of other GM brands.
"There was no passion for the product," says Hoglund. "The product had to fit what was going on in the corporate system."
Although the moves were necessary to fend off competition from Japanese automakers with lower costs, they yielded Pontiacs that looked and drove like other GM cars.
By 2008, the last full year before GM announced Pontiac's shutdown, sales were 267,000, less than a third of those sold in 1968.
Formed in 1926, Pontiac made cars for the working class until a sales slump in the 1950s nearly killed it. GM revived the brand by connecting it to auto racing. From then on, each Pontiac sales boom was driven by speed; each bust generally featured outdated or boring rides.
The brand's most storied muscle car, the GTO, came about when some GM engineers took a small car called the Tempest and put a powerful V8 engine under the hood. The letters stood for "Gran Turismo Omologato," Italian for "ready to race."
Sparked by the GTO, the Pontiac brand thrived, making up 17 percent of the 5.4 million cars and trucks GM sold in the U.S. in 1968. The GTO even spawned its own 1960s hit song.
"C'mon and turn it on, wind it up, blow it out GTO," was the chorus of the tune by Ronny and the Daytonas.
Pontiac's decline stemmed from a lack of a consistent strategy or leadership. Executives rotated through every few years on their way up the corporate ladder, each with a different vision. Some even tried to make Pontiac a luxury brand.
One strategy that eventually hurt the brand was rebadging: putting the guts of less powerful GM cars inside the skins of Pontiacs.
Big economic shifts also damaged the brand. Two gas spikes in the 1970s steered Americans toward smaller cars with more fuel-efficient engines, areas dominated by Japanese automakers in the U.S.
About two dozen unsold Pontiacs now linger at dealerships around the country, including a maroon G5 coupe that sits awkwardly in a no-man's land between used cars and new models next to the showroom at Orr GM Superstore near Little Rock, Ark. The car, which is really just a poky Chevrolet Cobalt gussied up with a spoiler, fancy wheels and the red arrowhead Pontiac logo, has been on the lot for more than 700 days. Sales Manager Alex Valencia has knocked almost $7,000 off the sticker price, down to $16,585.
Despite spells of success during the last 30 years, Pontiac never returned to its supercharged sales of the 1960s.
A low point was the late 1990s, when Pontiac came up with Aztek, an attempt to merge campers with SUVs and win over young, outdoorsy Americans. The vehicle, which seemed more like a cross between a minivan and armored car, flopped.
In the mid-2000s, GM tried to rekindle the brand with powerful sedans, such as the G8, which harkened back to the GTO. But dealers wanted a full model lineup, and GM gave them renamed Chevrolets, diluting Pontiac's performance image, says Bob Lutz, GM's former product guru who headed up the effort to reinvigorate Pontiac.
This year, Pontiac's sales are less than 1 percent of the 2.2 million cars and trucks GM is expected to sell. GM built the last Pontiac in May.
Even after their Pontiac agreements expire, GM dealers will continue to service the cars and honor their warranties. But after this weekend, any new Pontiacs that remain on dealer lots will be considered used cars by GM.
Anthony "Tony" Augelli, owner of a Pontiac-GMC-Buick dealer in Gurnee, Ill., near Chicago, still has a gleaming orange 2009 Solstice roadster that's the first car to greet customers in his showroom. Despite its prime perch, the $32,000 car hasn't sold.
Augelli gets emotional when speaking of Pontiac's end.
"I miss it already," he says.
___
AP Business Writer Chuck Bartels in Little Rock, Ark., and Associated Press writer Sophia Tareen in Gurnee, Ill., contributed to this report.
Copyright 2010 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.