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China Pharmaceuticals, Inc. Effects 1 For 3 Reverse Share Split
Sep. 28, 2010 (Business Wire) -- China Pharmaceuticals, Inc. (OTCBB: CFMID) (“China Pharmaceuticals, Inc.” or the “Company”), one of China’s leading manufacturers and distributors of prescription and over-the-counter pharmaceuticals, today announced that it has effected a 1 for 3 reverse share split as of September 22, 2010.
China Pharmaceuticals, Inc. has officially filed amendments to its articles to the state of Nevada to affect a 1 for 3 reverse share split. The company had also filed notice of same to FINRA. The objective of the reverse share split is to better position the company for a senior stock exchange listing. “Today’s announcement further demonstrates to our shareholders that we are taking steps that we feel are necessary to position the company to attain a senior stock exchange listing,” stated Mr. Guozhu Wang, Chairman and Chief Executive Officer of China Pharmaceuticals, Inc. In conjunction with the reverse split, a temporary "D" has been added to the end of the Company’s existing trading symbol (CFMID). Typically, the “D” is automatically removed 20 days after the share split becomes effective.
About China Pharmaceuticals, Inc.
China Pharmaceuticals, Inc. www.chinapharmaceuticalsinc.com has its headquarters based in the industrial city of Xi’an, Shaanxi Province, China. The Company identifies, discovers, develops, manufactures and distributes both prescription and over-the counter pharmaceutical products, including both conventional and traditional Chinese medicines, for the treatment of some of the most common ailments and diseases. China Pharmaceuticals, Inc. currently manufactures 132 pharmaceutical products in 11 dosage forms, including capsules, oral solutions, tablets, granules, syrups, medicinal teas, tinctures and solutions for injection. The Company currently markets and distributes 111 prescription drugs representing 78% of sales distributed via 56 sales offices (including two company-owned distribution and logistics centers) to a network of hospitals and clinics nationwide. China Pharmaceuticals, Inc. operates two modern high-tech manufacturing facilities based in Hanzhong and the Xi’an Jinghe Industrial Zone, in Shaanxi Province.
For the six months period ended June 30, 2010, the Company recorded record financial results. Total revenue was $17,500,787, representing a 79% increase over the same period last year. Net income for the period was $6,015,553, representing a 69% increase over the same period last year. As at June 30, 2010, total shareholders’ equity was $36,883,263 and total assets were $40,135,508.
Safe Harbor Statement
This announcement contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact in this announcement are forward-looking statements, including but not limited to, the company's ability to raise additional capital to finance the company's activities; the effectiveness, profitability, and the marketability of its products; legal and regulatory risks associated with the share exchange; the future trading of the common stock of the company; the ability of the company to operate as a public company; the period of time for which its current liquidity will enable the company to fund its operations; the company's ability to protect its proprietary information; general economic and business conditions; the volatility of the company's operating results and financial condition; the company's ability to attract or retain qualified senior management personnel and research and development staff; and other risks detailed in the company's filings with the Securities and Exchange Commission and available on its website at http://www.sec.gov. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about the companies and the industry. The company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or to changes in its expectations, except as may be required by law. Although the company believes that the expectations expressed in these forward-looking statements are reasonable, they cannot assure you that their expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results.
China Pharmaceuticals, Inc.
Mr. Guozhu Wang, Chief Executive Officer
Guozhu.wang@chinapharmaceuticalsinc.com
Mr. Guiping Zhang, President
Guiping.zhang@chinapharmaceuticalsinc.com
Mr. Tao Lei, Chief Financial Officer
Tao.lei@chinapharmaceuticalsinc.com
86-29-8406-7215
www.chinapharmaceuticalsinc.com
Investor Relations: ir@chinapharmaceuticalsinc.com
Source: Business Wire (September 28, 2010 - 5:38 PM EDT)
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Nevada Geothermal Power Reports Year End Financial Results
Sep. 28, 2010 (Business Wire) -- Nevada Geothermal Power Inc. (NGP) (TSX.V: NGP, OTCBB: NGLPF) today announced results for the year ending June 30, 2010. Gross margin for the year was $4.2 million and the net loss increased to $18.0 million. The full financial results are available at www.sedar.com and on the Company’s website at http://www.nevadageothermal.com.
(millions of US $ unless stated otherwise) 2010 2009 Change Q410 Q310 Change
Revenue 11.8 - n/a 6.2 3.0 107%
Gross Margin 4.2 - n/a 3.7 0.3 1133%
Operating expenses 4.9 3.4 44% 1.8 1.1 64%
EBITDA 2.3 (5.3) n/a 3.8 0.9 322%
Net Loss 18.0 5.1 253% 3.7 5.7 (35)%
Loss per Share ($) 0.19 0.05 280% 0.04 0.06 (33)%
Total Assets 187.3 222.8 (16)% 187.3 190.3 (2)%
Short & Long Term Liabilities 161.5 180.3 (10)% 161.5 160.8 (0)%
Commenting on the results, the Company’s president and CEO Mr. Brian Fairbank said, “We are pleased with the performance of the Faulkner 1 power plant at Blue Mountain and the transition of the Company from a developer to a significant power producer. Revenue from power sales increased steadily from start up through each of the last three quarters. The plant generated approximately 37 MW (net) on average during the fourth fiscal (April – June) quarter and gross margin increased to $3.7 million, or 60 % of the $6.2 million revenue. The Company expects further improvement in plant output going forward with further drilling.”
Highlights
Faulkner 1 power plant start up October 10, 2009
US federal government cash grant received ($57.9 million) during November 2009
Power production increased to average 37 MW by the fourth fiscal quarter
Application with John Hancock for a loan guarantee under the FIPP (Federal Institutions Partnership Program) and conditional commitment June 15, 2010
Subsequent to year end
John Hancock $98.5 million loan closed with fixed interest at 4.14% for a 20 year term, permitting further development
$8.4 million drilling fund included in John Hancock loan facility
$10.4 million equity issue closed during September 2010
Mr. Fairbank said, “NGP is continuing to drill at Blue Mountain in order to further distribute re-injection fluid, increase power production and offset a potential 2.5% per year power production decline. The Company has also been assessing low-cost capital by monetizing its tax benefits and/or from a potential cash grant related to additional construction since the plant was placed in partial service. NV Energy and TCW, the Company’s power off-taker and mezzanine lender, continue to work cooperatively with us to optimize the operation of the Blue Mountain ‘Faulkner 1’ power plant.”
About Nevada Geothermal Power Inc.:
Nevada Geothermal Power Inc. operates the 49.5 MW Faulkner 1 geothermal plant in Nevada. It is a growing, renewable energy developer focused on producing clean, efficient and sustainable geothermal electric power from high temperature geothermal resources in the United States. NGP currently owns a 100% leasehold interest in five properties: Blue Mountain, Pumpernickel Valley, Edna Mountain and Black Warrior in Nevada, and Crump Geyser, in Oregon. These properties are at different levels of exploration and development. NGP estimates a potential of between 150 MW and 300 MW from its current leaseholds.
This Press Release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. We have tried, whenever possible, to identify these forward-looking statements using words such as "anticipates," "believes," “estimates," "expects," "plans," "intends," "potential" and similar expressions. These statements reflect our current belief and are based upon currently available information. Accordingly, such forward-looking statements involve known and unknown risks, uncertainties and other factors which could cause the Company's actual results, performance or achievements to differ materially from those expressed in or implied by such statements. We undertake no obligation to update or advise in the event of any change, addition, or alteration to the information catered in this Press Release including such forward-looking statements.
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 release.
Nevada Geothermal Power Inc.
Brian D. Fairbank, P. Eng.
President & CEO
http://www.nevadageothermal.com
or
Investor Inquiries:
Nevada Geothermal Power Inc.
Paul Mitchell
Telephone: 604-688-1553 X118
Direct Line: 604-638-8784
Toll Free: 866-688-0808 X118
Email: pmitchell@nevadageothermal.com
Source: Business Wire (September 28, 2010 - 6:07 PM EDT)
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Shengtai Pharmaceutical Reports Financial Results for Full Year Fiscal 2010
Sep. 29, 2010 (PR Newswire) --
WEIFANG, China, Sept. 29 /PRNewswire-Asia-FirstCall/ -- Shengtai Pharmaceutical, Inc. (OTC Bulletin Board: SGTI) ("Shengtai" or "the Company"), a manufacturer and distributor in China of glucose and starch as pharmaceutical raw materials and other starch and glucose products, today reported financial results for the twelve months ended June 30, 2010.
Full Year Fiscal 2010 Results
Sales revenue for the fiscal year ended June 30, 2010 was $115,953,948, an increase of $42,632,086, or 58% compared with the corresponding period in 2009. The increase in sales revenue resulted from the increase of the Company's sales volume and selling prices. Net sales from exports for the year ended June 30, 2010 increased approximately 131% compared with the same period in 2009. The increase is attributable to the recovery of the global economy. Domestic sales for cornstarch and other products for the year ended June 30, 2010 increased approximately 55% compared with the same period last year. The increase in domestic sales was attributable to the higher demand for the Company's products and increase in unit sales prices.
Costs of goods sold for the year ended June 30, 2010 was $98,276,190, an increase of $32,476,704, or 49% compared with the corresponding period in 2009. The increase in cost of sales was lower than the increase in net sales. As a result, the gross profit for the year ended June 30, 2010 was $17,677,759, an increase of $10,155,383, or 135%, compared with the same period in 2009, and the gross profit margin for the year ended June 30, 2010 was 15.2%, an increase from 5.0% for the same period in 2009.
Net profit for fiscal 2010 was $3,198,981 or 0.17 per share as compared to a net loss of $2,663,888 or $0.14 per share for fiscal 2009.
Net cash from operating activities for fiscal year 2010 was $9,578,970 compared to $1,287,385 from in operating activities for fiscal year 2009, an increase of $8,291,585.
Net cash used in investing activities for fiscal 2010 was $16,576,493 compared to $1,432,818 used in investing activities for fiscal year 2009. The investing activities helped the company increase its production capacity via purchase of equipments and optimization in production process.
Management Comments
Commenting on the operating and financial results, Qingtai Liu, CEO of Shengtai Pharmaceuticals stated, "We are continuing our global expansion and diversification strategies which are currently benefiting from strong market growth. During this past year we increased our production of pharmaceutical grade glucose products, in particular dextrose monohydrate. Dextrose monohydrate is one of the five most important medical prescriptions in the PRC and one of the most widely used pharmaceutical products for restorative and nutritional purposes. It is used as a raw material in a wide array of pharmaceutical products such as transfusions and intravenous drips. Our cornstarch production capacity has been enhanced to 300,000 tons a year."
Mr. Liu continued, "Our return to profitability is a combination of our cost controls, diversified product lines and numerous sales initiatives. Our glucose facility allows us to use self-produced cornstarch to produce glucose and to be able to ensure the adequacy and quality of the cornstarch we use. Since cornstarch is produced on our premises, we are able to eliminate costs to ship the cornstarch to our glucose production facility, thus resulting in lower manufacturing costs.
"We are currently applying new production technology to recycling of our waste water and byproducts. At the same time, we are improving overall production efficiency by analyzing and ameliorating inefficient production processes. Environment protection and production efficiency are important in our growth," concluded Mr. Liu.
A conference call to further discuss earnings will be held Thursday, September 30th at 8:00 A.M. Eastern Time.
To participate, please call the following numbers ten minutes before the call start time:
Phone Number + 1 (877) 407-8035 (North America)
Phone Number + 1 (201) 689-8035 (International)
A replay of the call will be available through October 7, 2010, at 11:59 P.M. Eastern Standard Time. For the replay, please call:
Phone Number +1 (877) 660-6853 (North America)
Phone Number +1 (201) 612-7415 (International)
Account Number: 286
Conference ID Number: 357935
About Shengtai Pharmaceutical, Inc.
Shengtai Pharmaceutical, Inc. through its wholly owned subsidiary, Shengtai Holding, Inc. (SHI), and the Chinese operating company of Weifang Shengtai Pharmaceutical Co., Ltd., is a manufacturer and distributor in China of glucose and starch products as pharmaceutical raw materials, other starch products and other glucose products such as corn meals, food and beverage glucose and dextrin. For more information about Shengtai Pharmaceutical, Inc., please visit http://www.shengtaipharmaceutical.com .
Forward Looking Statements
Certain statements in this press release and oral statements made by the Company constitute forward-looking statements concerning the Company's business and products. These statements include, without limitation, statements regarding our ability to prepare the Company for growth, the Company's planned capacity expansion and predictions and guidance relating to the Company's future financial performance. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs, but they involve risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements, which may include, but are not limited to, such factors as unanticipated changes in product demand especially in the pharmaceutical industry, pricing and demand trends for the Company's products, changes to government regulations, risk associated with operation of the Company's new facilities, risk associated with large-scale implementation of the Company's business plan, the ability to attract new customers, ability to increase its product's applications, cost of raw materials, downturns in the Chinese economy, and other information detailed from time to time in the Company's filings and future filings with the United States Securities and Exchange Commission. Investors are urged to consider these factors carefully in evaluating the forward-looking statements herein and are cautioned not to place undue reliance on such forward-looking statements, which are qualified in their entirety by this cautionary statement. The forward-looking statements made herein speak only as of the date of this press release and the Company undertakes no duty to update any forward-looking statement to conform the statement to actual results or changes in the Company's expectations.
For more information, please contact:
Shengtai Pharmaceutical, Inc.
Mr. Hu Ye
Chief Financial Officer
Tel: +86-139-1157-3505
Email: shengtaicfo@hotmail.com
Shengtai Pharmaceutical, Inc.
Ms. Cherry Shuzhen Ge
Investor Relations Manager
Tel: +86-0536-6295802
Email: shengtaigsz@hotmail.com
Investor Relations
DME Capital LLC
David Elias
Tel: +1-516-967-0205
Email: dave@dmecapital.com
SOURCE Shengtai Pharmaceutical, Inc.
Mr. Hu Ye, Chief Financial Officer, Shengtai Pharmaceutical, Inc. at +86-139-1157-3505 or shengtaicfo@hotmail.com; Ms. Cherry Shuzhen Ge, Investor Relations Manager, Shengtai Pharmaceutical, Inc. at +86-0536-6295802 or shengtaigsz@hotmail.com; Investor Relations: David Elias, DME Capital LLC at +1-516-967-0205 or dave@dmecapital.com
Source: PR Newswire (September 29, 2010 - 2:28 AM EDT)
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Sen Yu International Holdings, Inc. Reports Higher Revenues and Net Income
Sep. 28, 2010 (Marketwire) --
NEW YORK, NY -- (Marketwire) -- 09/28/10 -- Sen Yu International Holdings, Inc. ("Sen Yu International" or the "Company") (OTCBB: CSWG), a leading producer and distributor of breeding and commercial hogs in the People's Republic of China, today reported higher revenues and net income for its fiscal year ended June 30, 2010.
Year ended June 30, 2010 Highlights
Net revenue increased 39.61% to $70.35 million for the fiscal year ended June 30, 2010 from $50.39 million for the same period ended June 30, 2009
Gross profit increased 62.75% to $14.29 million for the fiscal year ended June 30, 2010 from $8.78 million for the same period ended June 30, 2009
Net income increased 38.74% to $6.26 million for the fiscal year ended June 30, 2010 from $4.51 million for the same period ended June 30, 2009
Diluted earnings per common share increased 100% to $0.46 per share for the fiscal year ended June 30, 2010 from $0.23 per share for the same period ended June 30, 2009
Net revenue increased $19.96 million or 39.61% to $70.35 million for the fiscal year ended June 30, 2010 from $50.39 million for the same period ended June 30, 2009. The increase in revenues resulted from increased orders from our major customers, Beijing Dahongmen and Beijing Fifth Meat Factory. Hog sales increased to 397,255 head for the fiscal year ended June 30, 2010 from 294,226 for the fiscal year ended June 30, 2009. Net income increased $1.75 million or 38.74% to $6.26 million for the fiscal year ended June 30, 2010 from $4.51 million for the same period ended June 30, 2009, mainly due to the higher revenues and continuing control over expenses. However, general and administrative expenses increased by approximately $4.33 million, or approximately 699% for the fiscal year ended June 30, 2010 from the fiscal year ended June 30, 2009, principally due to the payment of non-recurring consulting fees of approximately $4.02 million. Diluted earnings per share increased 100% to $0.46 per share for the fiscal year ended June 30, 2010 from $0.23 per share for the same period ended June 30, 2009, mainly due to increase in net income and decrease in diluted common shares outstanding during the period ended June 30, 2010 from the same period ended June 30, 2009.
Mr. Zhenyu Shang, the founder and chief executive officer of Sen Yu International, said, "Our strong increases in revenues and net income for the fiscal year ended June 30, 2010 reflect the high pork consumption in the Chinese market due to China's economic expansion. The consistency of our operating performance results from our established business model and effective execution. Our strategy, business model and actions have proven to be very effective, thereby delivering results. We continue to bring in talents to strengthen our financial structure and corporate governance."
Looking at the company's products, revenues from commercial hogs were up $20.82 million or 44% to $68.33 million for the fiscal year ended June 30, 2010 from $47.51 million for the same period ended June 30, 2009. Revenues from other hogs decreased from $2.89 million or 30% for the period ended June 30, 2010 to $2.02 million. Commercial hogs refer to the hogs we purchase from Wang Da Farmers. Other hogs refer to hogs raised in our own breeding facilities. The increase in the commercial hogs product line was primarily attributable to our policy of committing all of our available cash resources to the commercial hogs market.
To help fulfill the large increase in customer orders for the commercial hogs, the Company negotiates large discount of fodder and prepays Wang Da to deliver the high quality fodder to farmers. Wang Da acquires the mature hogs and delivers the hogs to Beijing Fifth Meat Factory and Dahongmen, both located in Beijing.
Operating expenses remained under control, with gross profit margin increasing by 2.89% to 20.31% for period ended June 30, 2010 from 17.42% for the same period ended June 30, 2009 on higher unit margin. The Company's income from operations decreased to 9.31% for period ended June 30, 2010 from 10.83% for the same period ended June 30, 2009, principally due to the payment of non-recurring consulting fees of approximately $4.02 million occurring in 2010.
Total other expenses decreased $0.94 million or 68.55% to $0.43 million for the period ended June 30, 2010 from $1.37 million for period ended June 30, 2009, mainly due to decrease in mortality losses. Swine mortality caused an expense of $354,612 during the fiscal year ended June 30, 2010, recorded as "losses on disposal of fixed assets" or "losses on disposal of inventories" depending on the category of the deceased hog. During the fiscal year ended June 30, 2009, our mortality losses were $1,368,364. This category of expense will vary from year to year, depending on factors such as weather, disease, and other seasonal factors. We recorded the mortality losses of breeder and commercial hogs under "losses on disposal of fixed assets" and "losses on disposal of inventories," respectively.
As a result, the Company's net income increased $1.75 million or 38.74% for the fiscal year ended June 30, 2010 to $6.26 million from $4.51 million for the fiscal year ended June 30, 2009. The Company's net profit margin before non-controlling Interest improved to 8.69% for the fiscal year ended June 30, 2010 from 8.10% for the same period ended June 30, 2009.
As of June 30, 2010 there was an advance to Wang Da of $30.82 million. In order to raise quality commercial hogs, and control the quality of feeding materials and procedures, we entered into a cooperation agreement with Wang Da, our major feedstuff supplier, to provide our farmers fodder to raise their commercial hogs. The supplier offsets the advances from us once it delivers the Wang Da Farmers' commercial hogs to us. Primarily as a result of this advance, our operations provided us only $1.32 million in cash, despite $6.26 million net income during the fiscal year ended June 30, 2010.
The Company's cash outstanding for the fiscal year ended June 30, 2009 was $82,854.
The Company's current liability and total liability for the fiscal year ended June 30, 2010 was $7.82 million as compared to $12.64 million for the same period ended June 30, 2009. The Company recorded derivative warrant liability of $4.15 million in 2010.
Mr. Shang continued, "I believe our results for the fiscal year ended June 30, 2010 represent a very good performance in a very high growth year. With our advanced technology, modest debt leverage, and additional financing flexibility, we believe we should be very successful in expanding our current market and working capital to support sales growth in our commercial hogs market. We utilize Golden Lotus as our selling agent to ensure quality through a selection process. Golden Lotus is our exclusive sales agent in Heilongjiang Province. If Golden Lotus is not able to sell the minimum quarterly amount, it is required to pay a fee equal to 20% of the unaccomplished sales, and we have the right to sell our breeding swine through other agents. Among Golden Lotus' responsibilities is the recruitment of farmers that meet our standards. Golden Lotus is also responsible for processing the necessary data regarding the farmers, their requirements of breeding swine, their productivity, and an estimate of their fodder requirements. The data formulated by Golden Lotus is then used to determine the farmers' fodder requirements and our financial obligations to Wang Da. Wang Da is our fodder supply agent who maintains the Fodder Supply and Commercial Hog Buyback Agreements with the farmers."
Mr. Shang concluded, "China's economic outlook continues to be encouraging, and China's projected domestic pork consumption will approach 68 million metric tons in 2015. Government support and trade protection policies also encourage domestic pig production with tax exemptions, vaccines technology, feed costs cap, price control and providing use of lands. China consumes about 50% of the world's pork products. As a result, we believe that the high demand for hogs should continue for several years."
About Sen Yu International Holdings, Inc.
We are a holding company whose subsidiaries are in the business of research, development and sale of breeding stock of swine and the sale of their mature offspring in the PRC.
We entered the hog breeding and production business in September 2004. We currently own and operate two breeding farms with approximately 40% of the products being breeding sows and boars. These farms, in the aggregate, had an annual production capacity of approximately 6,000 and 6,600 breeding swine for the fiscal years ended June 30, 2010 and 2009, respectively. We conduct genetic, breeding and nutrition research to improve the production capabilities of breeding swine. As a result of our dedication to the use of leading-edge technology, the Livestock Bureau of Heilongjiang Province designated our Jiamusi City facility as the Breeding Swine Research Center for Heilongjiang Province.
Safe harbor
Certain statements in this release concerning our future growth prospects are forward-looking statements, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements.
The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding the success of our investments, risks and uncertainties regarding fluctuations in earnings, our ability to sustain our previous levels of profitability including on account of our ability to manage growth, intense competition, wage increases in China, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, our ability to successfully complete and integrate potential acquisitions, withdrawal of governmental fiscal incentives, political instability and regional conflicts and legal restrictions on raising capital or acquiring companies outside China.
Additional risks that could affect our future operating results are more fully described in our filings with United States Securities and Exchange Commission. These filings are available at www.sec.gov.
We may, from time to time, make additional written and oral forward-looking statements, including statements contained in our filings with the Securities and Exchange Commission and our reports to shareholders. We do not undertake to update any forward-looking statements that may be made from time to time by or on our behalf.
Source: Marketwire (September 28, 2010 - 8:48 PM EDT)
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China energy consumption per GDP unit down 15.61 pct in 2006-2009
BEIJING, Sep. 29, 2010 (Xinhua News Agency) -- China's energy consumption per GDP unit has dropped 15.61 percent in the first four years of the Eleventh Five-Year Program (2006-2010), said Peng Sen, deputy director with the National Development and Reform Commission.
Peng said that China has made great improvement in enhancing efficiency of resources utilization, and emission of pollutant keep falling in the four years. (Edited by Li Xiaohui, lixh@xinhua.org)
Source: Xinhua (September 28, 2010 - 11:14 PM EDT)
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Elephant Talk Communications, Inc. Signs Agreement With Your Card B.V. to Launch MVNO Telecom Services for Dutch Market
Sep. 29, 2010 (Marketwire) --
SCHIPHOL, THE NETHERLANDS -- (Marketwire) -- 09/29/10 -- Elephant Talk Communications, Inc. (OTCBB: ETAK) (www.elephanttalk.com), an international provider of business software and services to the telecommunications and financial services industry, announced today the signing of an agreement with Your Card B.V., a new Mobile Virtual Network Operator (MVNO) serving the Dutch market, as part of Elephant Talk's global campaign to expand its Mobile Virtual Network Enabler (MVNE) platform services to new markets in Europe, Middle East and South America.
With the launch of MVNO services to Dutch commercial and consumer mobile users in October -- under the name YOUR CARD® ONE -- Your Card B.V. will use Elephant Talk's fully integrated MVNE platform for hosting mobile services and supporting new channels for customer communications, including a new innovative dimension to prepaid service packages. YOUR CARD® ONE is the first known MVNO in the Netherlands offering Voice, SMS and Mobile Internet services with an integrated smart card and loyalty system. This technical combination sets the standard to offer users the most advanced services, excellent service and security.
"Elephant Talk's MVNE platform services will provide Your Card B.V. a single window's interface that allows business-to-business clients, such as prepaid phone companies that resell phone service but use the towers of a mobile operator, a single window's interface so they can control pricing, billing, product bundling, promotions and loyalty management in one integrated system. Next to a very high service level, an additional advantage of such integration is a substantial cost reduction in operating expenses," said Steven van der Velden, Elephant Talk's CEO.
Carina Oostmeijer, CEO of Your Card B.V., stated: "YOUR CARD's new MVNO concept under the brand name YOUR CARD® ONE, stands for 1 Card, 1 Account for All. YOUR CARD® ONE is an intelligent prepaid service package that sets a completely new dimension to prepaid, which is one of the fastest growing technologies in telecommunications. YOUR CARD® ONE is responding to the growing demand for alternative and insightful communication capabilities. YOUR CARD offers a number of services such as YOUR CARD® MOBILE, YOUR CARD® SMART CARD, YOUR CARD® GIFT and YOUR CARD® PROMO."
"The YOUR CARD concept shows Elephant Talk's abilities to integrate multiple external facing systems with our carrier grade CRM/IN/Billing platform," said Martin Zuurbier, CTO of Elephant Talk. "The tight relation between the SIM card and the SMART card, for example, in combination with our endless box of functionalities will give YOUR CARD the right instruments to act as a promising new kid in the Dutch MVNO market. Since the Dutch MVNO market is reasonably crowded, we think that YOUR CARD has the right value-add, which will attract a lot of consumers and business to the upcoming YOUR CARD community."
About Your Card
Your Card B.V. is a full-service facilitating telecommunication company for fixed and mobile networks for businesses, which would like to enter the market of Intelligent Communications. Your Card® BRANDED SMART CARD SOLUTIONS, which stands for white label MVNO services and MVNO prepaid smart card services, enables companies with low entry costs to offer a complete package of mobile services to its customers or members in their own style in combination with the integrated smart card system. It can be used to sell the product as a supplement to existing product range and thus the guarantee of additional revenue, as a gift card with Your Card ® GIFT, or provides access to the latest media possibilities with Your Card ® PROMO. Your Card® BRANDED SOLUTIONS SMART CARD for sales and service companies provides a means to remain competitive. It is a flexible white label product with the look and technical application specially tailored. It is a marketing tool to provide insight into customer behavior, to identify users and to work as a communication tool. The application choices are unlimited.
About Elephant Talk Communications
Elephant Talk Communications, Inc. (OTCBB: ETAK) is an international provider of business software and services to the telecommunications and financial services industry. The company enables both mobile carriers and virtual operators to offer a full suite of products, delivery platforms, support services, superior industry expertise and high quality customer service without substantial upfront investments from clients. Elephant Talk provides global telecommunication companies, mobile network operators, banks, supermarkets, consumer product companies, media firms, and other businesses a full suite of products and services that enable them to fully provide telecom services as part of their business offerings. The company offers various dynamic products that include remote health care, credit card fraud prevention, mobile internet ID security, multi-country discounted phone services, loyalty management services, and a whole range of other emerging customized mobile services. For more information visit www.elephanttalk.com.
Forward-Looking Statements
Certain statements contained herein constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may include, without limitation, statements with respect to Elephant Talk Communication Inc's plans and objectives, projections, expectations and intentions. These forward-looking statements are based on current expectations, estimates and projections about the Company's industry, management's beliefs and certain assumptions made by management. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict. Because such statements involve risks and uncertainties, the actual results and performance of the Company may differ materially from the results expressed or implied by such forward-looking statements. Given these uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Unless otherwise required by law, the Company also disclaims any obligation to update its view of any such risks or uncertainties or to announce publicly the result of any revisions to the forward-looking statements made here. Additional information concerning certain risks and uncertainties that could cause actual results to differ materially from that projected or suggested is contained in the Company's filings with the Securities and Exchange Commission (SEC), copies of which are available from the SEC or may be obtained upon request from the Company.
Contact:
Your Card B.V.
Carina Oostmeijer
CEO
Tel: + 0031 (0) 88 7766 590
Email Contact
Your Card® PR: Email Contact
Your Card® Sales: Email Contact
Elephant Talk Communications Inc.
Claire Hope
Manager PR & Marketing
Tel: + 44 (0) 20 31708125
Email Contact
Investors:
Alliance Advisors, LLC
Thomas P. Walsh
Tel: + 1 212-398-3486
Email Contact
Source: Marketwire (September 29, 2010 - 4:00 AM EDT)
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Geospatial¿s subsidiary signs technology license agreement with George F. Young Inc
Sep. 29, 2010 (M2 Communications Ltd.) --
Geospatial Mapping Systems Inc, a wholly owned subsidiary of Geospatial Holdings Inc (OTC.BB: GSPH), has entered into a technology license agreement with George F. Young Inc.
Under the license agreement announced on Tuesday, financial details of which were not available, George F. Young will utilise Geospatial’s Smart Probe Pipeline Mapping Technologies for the practice of mapping pipelines and rendering 3-dimensional as-built drawings, throughout the Southeast region.
The three-year agreement allows George F. Young non-exclusive use of Geospatial’s Smart Probe and GeoUnderground technologies throughout Alabama, Florida, Georgia, Louisiana, Mississippi, North Carolina, South Carolina, Tennessee and the Caribbean Basin.
Geospatial Holdings creates accurate (3D) three-dimensional digital maps and models of all underground infrastructure utilising proprietary technologies.
(Comments on this story may be sent to info@m2.com)
Source: M2 Presswire (September 29, 2010 - 4:18 AM EDT)
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Algae Industry Conference Welcomes OriginOil Expert Services
Veteran team will help algae developers achieve commercial scale
Sep. 29, 2010 (Business Wire) -- OriginOil, Inc. (OOIL), the developer of a breakthrough technology to transform algae, the most promising source of renewable oil, into a true competitor to petroleum, announced that industry attendees welcomed its launch of algae expert services at a recent gathering of the National Algae Association, highlighted in videos posted at originoil.com/NAA2010.
"For the past three years, hundreds of large companies, entrepreneurs, development agencies and investors have asked for our help in launching their algae programs," said OriginOil CEO, Riggs Eckelberry. "With our own products now hitting the market, our veterans in production, processing and commercialization can help this global industry achieve its very real potential to overtake petroleum."
Ken Reynolds, vice president of commercialization, made the presentation, which is available at originoil.com/expertservices2010. Attendees spotlighted in videos at last week's National Algae Association's Algae Commercialization, Research and Business Networking Forum in Houston, TX welcomed the new program.
"Analyzing it ahead of time so you can make informed judgments as to what direction you're going to go to… that makes a lot more sense than doing it by experimentation," said Paul Hoar, president of AgriFuels LLC. "We and our customers are just getting into the algae business right now; I would certainly consider OriginOil for bringing its services to the table."
"There's a recognition by OriginOil that there are certain products and services that the algae industry needs," commented Doug DiLillo, a marketer of industrial bio technology at Pall Corporation (NYSE:PLL). "To take the cumulative knowledge that the company and its members have, and then to use that knowledge to help guide those in the industry that have projects, is a very worthwhile way to position the company."
OriginOil has quietly added new executives to handle the new business, including Reynolds, with over twenty years' experience in strategy, competitive analysis and product marketing, and Jose Sanchez, vice president of growth and production, an industry-recognized algaeculturist and large-scale algae systems manager. Other team members, including OriginOil CTO Brian Goodall PhD and Consulting Scientist Vikram Pattarkine PhD, will add their expertise as prescribed.
The services will range from initial feasibility studies, through full launch planning, to commercialization help for existing algae players. Typically they will be delivered on a flat-price model. The Expert Services unit is strictly vendor-neutral.
"Algae production is incredibly diverse and requires a variety of multi-vendor solutions," said Jose Sanchez, vice president of growth and production. "I have the clear mandate from management to prescribe what our clients will need, whether it is an OriginOil technology or not."
"Our vendor-neutral policy will help us develop marketing opportunities for our customers," added Reynolds. "This is where our work gets super-exciting, as we help grow a global industry by connecting all of its players".
About OriginOil, Inc.
OriginOil, Inc. is developing a breakthrough technology that will transform algae, the most promising source of renewable oil, into a true competitor to petroleum. Much of the world's oil and gas is made up of ancient algae deposits. Today, our technology will produce "new oil" from algae, through a cost-effective, high-speed manufacturing process. This endless supply of new oil can be used for many products, such as diesel, gasoline, jet fuel, plastics and solvents, without the global warming effects of petroleum. Other oil-producing feedstock, such as corn and sugarcane, often destroy vital farmlands and rainforests, disrupt global food supplies and create new environmental problems. Our unique technology, based on algae, is targeted at fundamentally changing our source of oil without disrupting the environment or food supplies. To learn more about OriginOil™, please visit our website at www.originoil.com.
Safe Harbor Statement
Matters discussed in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein, and while expected, there is no guarantee that we will attain the aforementioned anticipated developmental milestones. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with: the impact of economic, competitive and other factors affecting the Company and its operations, markets, product, and distributor performance, the impact on the national and local economies resulting from terrorist actions, and U.S. actions subsequently; and other factors detailed in reports filed by the Company.
Abstract/Short Description
OriginOil announces expert services at National Algae Association conference, to help algae developers achieve commercial scale.
Keyword List
agrifuels, algae oil, algae commercial scale, brian goodall, jose sanchez, ken reynolds, national algae association, pall corporation, renewable oil, riggs eckelberry, originoil, originoil expert services, ooil
Press Contact
Beckerman PR
Laura Finlayson, 201-465-8007
lfinlayson@beckermanpr.com
or
Investor Relations Contact
OriginOil, Inc.
Tom Becker
Toll-free: 877-999-OOIL(6645) Ext. 641
International: +1-323-939-6645 Ext. 641
Fax: 323-315-2301
ir@originoil.com
www.originoil.com
Source: Business Wire (September 29, 2010 - 5:05 AM EDT)
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CellCyte Genetics Corp names Dr. Douglas Pat Cerretti president
Sep. 29, 2010 (M2 Communications Ltd.) --
Biotechnology company CellCyte Genetics Corp (OTCBB:CCYG) reported on Tuesday that Douglas Pat Cerretti , Ph.D. has been appointed as president of the company.
Dr. Cerretti will also retain his responsibilities as chief science officer and director of business development.
Dr. Cerretti, a biopharmaceutical research scientist, has been involved with CellCyte as an independent consultant and, since November 2008, has helped refine its Interim Operating Plan.
From 1984 to 2002 Dr. Cerretti worked with Immunex and, after Immunex’s acquisition in 2002, with Amgen in positions ranging from staff scientist through to scientific director. He retired from Amgen in 2007.
(Comments on this story may be sent to info@m2.com)
Source: M2 Presswire (September 29, 2010 - 5:28 AM EDT)
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Wellstar International, Inc. Announces the Results for Publication of the Duke University Study Have Been Accepted
Sep. 29, 2010 (Business Wire) -- Wellstar International Inc. (OTCBB:WLSI) announces that the publication of “Advances of Skin and Wound Care” medical journal has approved the manuscript submitted and will be publishing the results of the Duke Study.
The company has just been informed that, after several months of review and two rounds of questions and answers, the leading publication in wound care has informed the authors of the manuscript written based on the results of the completed Duke Study, that after careful review they feel it will make a valuable contribution to Advances in Skin and Wound Care Journal to publish the findings of the Duke Study.
John Antonio, CEO of Wellstar and TMI states, “This is a monumental time for us. We have been working very hard to deliver a finished product that would be acceptable to the medical market, with emphasis on the hospital and long term care industry. While we have had excellent White Papers to share during our presentations, we now have the leading medical journal on wounds publishing our results. This will open up the market to us and we can start to pursue discussing firm placements with the prospective clients which include every hospital in the United States. Our next major step is the completion of our new camera which should be completed and tested by the end of November 2010. This will allow us to start our roll out of our systems in the first quarter of 2011.”
When the company receives the firm date of the publication, it will be announced.
This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-statements include fluctuation of operating results, the ability to compete successfully and the ability to complete before-mentioned transactions. The company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operation results.
Website is www.wellstar.us
Investor Contact:
Falcon Financial Partners, LLC, 1-866-500-8985
Source: Business Wire (September 29, 2010 - 5:30 AM EDT)
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Waytronx Announces 2010 Annual Shareholder Meeting & Operational Update
Sep. 29, 2010 (Business Wire) -- Waytronx, Inc. (OTCBB: WYNX), a platform company dedicated to the acquisition, development, and commercialization of new, innovative technologies along with its wholly owned subsidiaries, CUI Inc, a provider of electromechanical components and CUI-Japan, its Japanese subsidiary, and Comex Electronics, a partially owned (49%) Japanese subsidiary, today announced that it will host its annual Shareholder Meeting at 9:00 AM PST on December 2, 2010 at its Tualatin Facility. The meeting will be simultaneously webcast.
In conjunction with that meeting, Waytronx CEO & President, William Clough, issued the following operational update:
“The last several years have clearly been transformational at Waytronx. We changed the company’s name; changed the company’s focus; acquired both business subsidiaries and new technologies; and completely changed the company’s business model.
During the latter part of 2008, 2009 and now into 2010, we have taken the technology platform we created by acquiring CUI and its facilities and incorporated that platform into our public company. We have added new product lines; made strategic geographic acquisitions; vertically integrated our sales force; secured several proprietary licensing agreements; and begun to see the fruits of our transformation from a pre-revenue R&D company to a revenue generating, profitable technology/licensing business model.
We have re-structured and/or eliminated more than $25,000,000 in debt; we have reported our first net-net profitable quarter; and we’ve done all of this while reducing our SG&A as a percentage of our gross revenue.
As in previous years, the continued commitment and support of our efforts by our shareholders is of tremendous importance to our company, its employees, and its executive team. We value that support and are working hard to maintain your trust and increase shareholder value.
This year culminates many of the company’s strategic efforts to change its business model and transform itself from a pre-revenue, patent portfolio company to a revenue generating; profitable platform company dedicated to identifying, acquiring, and commercializing leading edge technologies. Briefly, the significant milestones we reached in order to accomplish this transformation were:
In May 2008, the company acquired CUI Inc, a Tualatin, Oregon based solutions provider of electromechanical components and industrial controls for OEM manufacturing (Press Release dtd: May 19, 2008).
In October 2008, the company signed and announced the first of its exclusive worldwide licensing agreements for the C14 encoder. That product is now being sold in the marketplace and is generating revenue for the company (Press Release dtd: October 7, 2008).
In May 2009, the company signed and announced the worldwide, exclusive licensing agreement for the AMT encoder. This encoder has already received several design wins, is currently in the market, and generating revenue for the company (Press Release dtd: May 12, 2009).
In May 2009, the company was able to reach an agreement with the former owners of CUI (IED, Inc.) to reduce the value of its $17,500,000 convertible acquisition note to a market value of $4,900,000.
In July 2009, after lengthy negotiations, the company was able to announce the acquisition of Comex Electronics and forty-nine percent (49%) of Comex Instruments and its rebranding to “CUI-Japan.” This acquisition of Comex revenues (full year 2009 gross revenues of approximately $4.1 million) and a customer list including such iconic Japanese companies as Mitsubishi, Honda, Fujitsu, Toshiba, Sony, Japan Rail, the Japan Defense Force, and others was the culmination of the company’s efforts to significantly increase its presence in Japan for its own existing product lines (Press Release dtd: July 6, 2009).
In July 2009, after hiring Mark Adams the new VP of Worldwide Sales, the company was able to announce the re-structure and vertical expansion of its sales force – Increasing its outside sales group to seventy-four (74) reps, with comprehensive coverage of the United States and service in Mexico, Puerto Rico, and Western Canada (Press Release dtd: July 15, 2009). Since that announcement, the company has added additional sales reps and now includes Europe in its coverage.
In September 2009, the company entered into a licensing agreement with Power One, Inc. (NASDAQ: PWER). The non-exclusive license agreement provides access to Power-One’s portfolio of digital power technology patents for incorporation into the company’s new line of digital point of load power modules (Press Release dtd: September 21, 2009).
In January 2010, the company announced that it had finalized negotiations with GL Industrial Services UK [formerly: Advantica Ltd.] for exclusive worldwide licensing rights to the unique new GASPT2 technology. That technology allows, for the very first time, “live time” monitoring of the quantity, quality, and composition of natural gas intra-pipeline. That contract calls for a minimum of between $35,000,000 and $40,000,000 in sales during the first four years of the agreement. The company is currently in the final phase of safety certification of the device by BASEEFA and fiscal certification by the American Gas Association and Ofgem in the United Kingdom (Press Release dtd: January 4, 2010).
In March 2010, the company entered into an exclusive Field of Use Agreement with California Power Research Inc to license their BPS-5 advanced power topology. BPS-5 provides advantages across a wide range of ac-dc and dc-dc power conversion applications through a significant reduction in switching losses within PWM circuits. The company is commercializing this technology though its V-Infinity line of power products (Press Release dtd: March 30, 2010).
In March 2010, the company retained Innovaro, Inc. (AMEX: INV), a patent portfolio company dedicated to, and specializing in developing compelling strategies and modeling breakthrough ideas, to find a strategic partner to either develop or acquire its WayCool Technology, so that the company can continue to focus on its and CUI’s core business, developing those products that are either already in the market or very close to actual commercialization. Innovaro has and continues to aggressively market the WayCool Technology portfolio and has already identified and introduced several potential partners to the company.
In April 2010, the company was able to re-negotiate with IED and two other “Angel” Investors, allowing it to reduce its debt by another $7,200,000. IED exchanged the entire convertible (acquisition) note of $4,900,000 and related accrued interest of $850,500 for 1,000,000 shares of common stock and a one-time $50,000 payment. Additionally, the other two investors converted approximately $1,500,000 in debt to equity (Press Release dtd: April 20, 2010).
After complicated negotiations with Wells Fargo Capital Finance (NYSE: WFC), in August 2010, the company was able to transfer its entire banking relationship, along with its working line-of-credit and term (acquisition) note to Wells Fargo Capital Finance, bringing it into compliance with all financial covenants and allowing it to move from a regional banking relationship to an international banking relationship, much better equipped to service the company’s ever expanding product line and customer base (Press Release dtd: August 31, 2010). In conjunction with this move to Wells Fargo, the company was able to retire an additional $2,000,000 in debt when five (5) investors agreed to convert their SBLC’s into equity in the company (Press Release dtd: August 10, 2010).
In August 2010, the company was pleased to report its first net-net profitable quarter. For the Second Quarter ending June 30, 2010, the company reported consolidated revenues of $10,716,227 (up 77% year-over-year) and EBITDA of $6,494,479 – EPS of $0.02 per share. Those numbers represent a 40% quarter-to-quarter increase in revenues, up from $7,668,805 in the first quarter 2010. This revenue growth and operating profit was accomplished while the company’s Selling, General, and Administrative (“SG&A”) expenses were reduced from 41% of total revenue in second quarter 2009 to 29% of total revenue for the second quarter 2010 – a decline of more than 12%. Significantly, the SG&A dropped from 37% of total revenue in first quarter 2010 to 29% of total revenues in second quarter 2010 – a quarter-to-quarter drop of 8% (Press Release dtd: August 16, 2010).
Finally, and maybe most significantly, in September 2010, the company reached agreement with IED to reduce its remaining approximately $14,000,000 Term Note, then due and payable on or before May 15, 2011, to approximately $10,309,000 and extend the terms of that Note, making it “interest only” and due and payable on or before May 15, 2018 – transforming it from short-term debt into long-term debt. In exchange for this accommodation by IED, the company agreed to pay IED a one-time payment of $1,500,000 on or before December 1, 2010 (Press Release dtd: September 9, 2010).
In sum and put quite succinctly, the company’s immediate future looks especially bright.
With a significant total addressable market (TAM) for our proprietary products and emerging technologies;
A quarter-to-quarter growth rate of more than 40% and a year-over-year growth rate of more than 70%;
Reduction in our SG&A as a percentage of total revenues;
Increasing profitability of $0.02 earnings per share (EPS) for the second quarter of 2010, along with a reduction in debt and associated reduction in cash and non-cash interest expenses from approximately $400,000 per month in May 2008 to approximately $145,000 per month now ($88,000 in cash and $57,000 in non-cash expense); and,
Continuing our emphasis on increasing operational efficiencies, expanding our “legacy” business, and bringing our Novum Digital Power Product Line and GasPT2 device to market, the company has, and continues to implement its strategic plan to increase its market share, acquire and introduce new technologies, and drive shareholder value.
As always, we recognize our shareholders for their continued support and we look forward to providing more value and return on investment to each of you during the coming year.”
About Waytronx, Inc.
Waytronx, Inc. has pioneered and is developing innovative thermal management solutions capable of revolutionizing the semiconductor, solar and electronic packaging industries, among others, utilizing its patented WayCool™/WayFast™ hybrid mesh architecture. In addition, through its acquisition of CUI in May 2008, Waytronx has developed the infrastructure, expertise, and platform necessary to acquire, develop, and commercialize new technologies. For its part, CUI is a solutions provider of electromechanical components and industrial controls for OEM manufacturing. Since its inception in 1989, CUI has been delivering quality products, extensive application solutions, and superior personal service. CUI’s solid customer commitment and honest corporate message are a hallmark in the industry.
Waytronx also holds CUI-Japan as a wholly owned subsidiary and Comex Electronics as a partially owned subsidiary (49%). CUI-Japan and Comex are Japanese solutions provider of electromechanical components and industrial controls for OEM manufacturing. For more information, please visit www.waytronx.com and www.cui.com.
This document 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. Such statements are subject to risks and uncertainties that could cause actual results to vary materially from those projected in the forward-looking statements. The company may experience significant fluctuations in future operating results due to a number of economic, competitive, and other factors, including, among other things, our reliance on third-party manufacturers and suppliers, government agency budgetary and political constraints, new or increased competition, changes in market demand, and the performance or reliability of our products. These factors and others could cause operating results to vary significantly from those in prior periods, and those projected in forward-looking statements. Additional information with respect to these and other factors, which could materially affect the company and its operations, are included in certain forms the company has filed with the Securities and Exchange Commission.
WayCool, WayFast, Waytronx and OnScreen are trademarks of Waytronx, Inc. Other names and brands are the property of their respective owners.
Media Contact:
CUI
Maggie Lefor, 503-612-2300
info@waytronx.com
or
Investor Relations:
Waytronx, Inc.
Fred Schultz, 760-429-7775 or 760-855-8880
fschultz@waytronx.com
Source: Business Wire (September 29, 2010 - 5:30 AM EDT)
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Your Card signs agreement with Elephant Talk
Sep. 29, 2010 (M2 Communications Ltd.) --
Elephant Talk Communications Inc (OTCBB:ETAK), a provider of business software and services, today announced that it has signed an agreement with Your Card BV, a new Mobile Virtual Network Operator (MVNO) in The Netherlands.
The company said that Your Card will be providing MVNO services to Dutch commercial and consumer mobile users from October using Elephant Talk’s integrated MVNE (Mobile Virtual Network Enabler) platform to host its mobile services and customer communication channels. The prepaid service, which will be launched under the name YOU CARD ONE, will offer voice, SMS and mobile Internet services with an integrated smartcard and loyalty system.
No financial details of the deal were disclosed.
(Comments on this story may be sent to tww.feedback@m2.com)
Source: M2 Presswire (September 29, 2010 - 5:38 AM EDT)
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Points.com Expands Partnership with Continental Airlines
Sep. 29, 2010 (PR Newswire) --
OnePass® Members Now Have Ability to Move and Redeem Miles on the New Points.com
TORONTO, Sept. 29 /PRNewswire-FirstCall/ - Points International Ltd. (TSX: PTS; OTCBB: PTSEF), owner and operator of the world's leading loyalty reward program management Web site, www.Points.com, has expanded its relationship with Continental Airlines OnePass® frequent flyer program to let members exchange miles into other loyalty accounts and redeem points for leading retailers, flights and services.
This expands Continental's existing relationship with Points.com that started in 2009. Previously, Points.com only gave OnePass® members the ability to trade miles with other users via Points.com's industry-leading miles and points management platform. The new experience not only allows Continental OnePass® members to exchange points and miles from one program for another, but also to redeem their OnePass® miles for gift cards to hundreds of major retailers including Best Buy® and Target.
"Continental OnePass® is one of the largest and most respected frequent flyer programs in the airline industry with more than 35 million members," said Rob MacLean, CEO of Points.com. "The benefits of the expansion of our relationship into exchange and redeem is two-fold: it allows Continental's members to get even more OnePass® miles by leveraging their participation in other programs as well as enhancing the value proposition for Continental."
"Giving our OnePass® members the best experience is of utmost importance to Continental, so expanding with Points.com to include exchange and redeem was a natural next step for us," said Mark Bergsrud, Senior Vice President of Marketing Programs and Distribution for Continental Airlines. "With members exchanging miles and redeeming them for flights, products and services, our members have greater opportunity to use their miles in ways that are most beneficial to them."
In addition, OnePass® members have the ability to track mileage balances along with more than two dozen other programs, including American Airlines AAdvantage®, Delta SkyMiles®, US Airways Dividend Miles and Alaska Airlines Mileage Plan.
Points International works in partnership with all loyalty and reward programs active on Points.com. All transactions are fully sanctioned by the program operators. For more information, follow us on Twitter, @pointsadvisor, fan us on Facebook (www.points.com/facebook) or read our blog (blog.points.com).
About Points International Ltd.
Points International Ltd. is the owner and operator of Points.com, the world's leading reward program management web site. The site was named one of the 30 Best Travel Sites in 2008 and 28 Best Travel Sites in 2009 by Kiplinger's. At Points.com consumers can Exchange, Trade, Buy, Gift, Share and Redeem miles and points from more than 25 of the world's leading reward programs. Participating programs include American Airlines AAdvantage® program, Aeroplan®, AsiaMiles™, British Airways Executive Club, Delta SkyMiles® and InterContinental Hotels Group's Priority Club® Rewards. Redemption partners include Amazon.com® and Starbucks. For more information, visit www.pointsinternational.com.
About Continental Airlines
Continental Airlines is the world's fifth largest airline. Continental, together with Continental Express and Continental Connection, has more than 2,700 daily departures throughout the Americas, Europe and Asia, serving 132 domestic and 137 international destinations. Continental is a member of Star Alliance, which overall offers more than 21,200 daily flights to 1,172 airports in 181 countries through its 28 member airlines. With more than 40,000 employees, Continental has hubs serving New York, Houston, Cleveland and Guam, and together with its regional partners, carries approximately 63 million passengers per year.
Continental consistently earns awards and critical acclaim for both its operation and its corporate culture. For nine consecutive years, FORTUNE magazine has ranked Continental as the top U.S. airline on its "World's Most Admired Companies" airline industry list. For more company information, go to continental.com.
SOURCE Points International Ltd.
Investor relations:Andrew Greenebaum/ Laura Foster
Addo Communications
T. 310-829-5400; E. andrewg@addocommunications.com; LauraF@addocommunications.com
Media relations:
Emily Donohue
Allison & Partners
T. 646-428-0622; E. points@allisonpr.com
Business enquiries:
Martin Tongue
Vice President, Business Development
Points International
T. 416-596-6363; E. martin.tongue@points.com
Continental Airlines
Business enquiries:
Continental Airlines Corporate Communications
T. 713-324-5080
Source: PR Newswire (September 29, 2010 - 6:00 AM EDT)
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Red Metal Resources Announces Results from Mining Program at Irene Property in III Region Chile
Sep. 29, 2010 (PR Newswire) --
THUNDER BAY, ON, Sept. 29 /PRNewswire-FirstCall/ - Red Metal Resources Ltd. (OTCBB:RMES), a resource company focused on growth through acquiring, exploring and developing copper-gold assets in Chile, today announced a summary of grade results from a contract surface mining program at the Irene copper-silver-gold property, part of Red Metal's Mateo project in Chile's highly prospective iron oxide copper gold (IOCG) belt.
Irene is approximately 7 kilometres east of Vallenar and consists of two mining concessions covering approximately 70 hectares. Red Metal has an option to purchase a 100% interest in the Irene property.
The vendor has an ongoing artisinal mining operation at Irene where they sell ore to ENAMI, the Chilean national mining company, and recent results include:
- 977 tonnes of material from the Oxide Zone with an average grade of
2.09% copper, including 85 tonnes grading 3.36% copper, 1.03 grams
per tonne gold and 60.76 grams per tonne silver.
- 1286 tonnes of material from the Sulphide Zone with an average grade
of 1.40% copper, 0.24 grams per tonne gold and 18.65 grams per tonne
silver.
Once Red Metal executes the option agreement, the vendor will continue the artisinal mining program and will pay Red Metal 2% of gross proceeds from material sold to ENAMI for processing.
ENAMI investigated the Irene property in 1994. Work completed then included 490 metres of RC drilling in 4 surface drillholes and 220 metres of diamond drilling in 4 underground drillholes. From the drill results, ENAMI inferred a non-NI 43-101-compliant resource of 68,000 tonnes grading 3.6% copper, 78 grams per tonne silver and 0.7 grams per tonne gold. According to ENAMI's reports from 1994 through 1997, approximately 16,144 tonnes of rock was mined with an average grade of 3.2% copper, 43.7 grams per tonne silver and 0.72 grams per tonne gold.
Caitlin Jeffs, P.Geo., President of Red Metal, stated, "The results from this current mining program are encouraging and we intend to perform more substantial exploration work at Irene to determine the potential of that property."
Michael Thompson, P. Geo., Vice President Exploration for Red Metal, the project Qualified Person under the definition of NI 43-101 has reviewed and approved the contents of this news release.
About Red Metal Resources Ltd.
Red Metal Resources is a Thunder Bay-based resource company focused on growth through acquiring, exploring and developing copper-gold assets in Chile. Our properties are located in the highly prospective Candelaria iron oxide copper-gold (IOCG) belt of Chile's coastal Cordillera, host to Freeport-McMoRan's Candelaria Mine and Anglo American's Mantoverde Mine. Red Metal is a fully reporting public company quoted on the OTCBB and OTCQB under the symbol RMES. For more information, visit www.redmetalresources.com.
Except for the statements of historical fact, the information contained herein is of a forward-looking nature. Such forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievement of the Company to be materially different from any future results, performance or achievements expressed or implied by statements containing forward-looking information. Accordingly, readers should not place undue reliance on statements containing forward looking information. The U.S. Securities and Exchange Commission permits U.S. mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. We may use certain terms in our press releases, such as "measured," "indicated," and "inferred" resources, which the SEC guidelines generally prohibit U.S. companies from including in their filings with the SEC. Investors are urged to consider closely the disclosure in our Form 10-K which may be secured from us, or from the SEC website at http://www.sec.gov/edgar.shtml.
CONTACT: Red Metal Resources Ltd., Adam Rabiner, Corporate Communications, 604-648-0513 or 1-866-907-5403, invest@redmetalresources.com, www.redmetalresources.com
SOURCE Red Metal Resources Ltd.
Red Metal Resources Ltd., Adam Rabiner, Corporate Communications, 604-648-0513 or 1-866-907-5403, invest@redmetalresources.com, www.redmetalresources.com
Source: PR Newswire (September 29, 2010 - 6:02 AM EDT)
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Molycor Gold Corp.: Surface Sampling Extends the Magnesium Zone an Additional 1000 Meters
VANCOUVER, BRITISH COLUMBIA, Sep. 29, 2010 (Marketwire) -- Larry W. Reaugh, Chairman and Chief Executive Officer of Molycor Gold Corp. (TSX VENTURE:MOR)(PINK SHEETS:MLYFF)(FRANKFURT:M1V) ("Molycor" or the "Company") reports rock chip and outcrop sample assays up to 13% Mg were received from this summer's geological surface mapping and rock sampling program on the Tami-Mosi Magnesium property, located 6.5 miles east of Ely, Nevada.
The program consisted of sampling the identified dolomite blocks to determine the surface dimensions. To date the area of the Tami-Mosi dolomites have been interpreted to cover 126.45 Ha with an average thickness of 144 meters and a strike length over 4130 meters.
51 samples were tested within the property and are listed below:
------------------------------------------------------------------Sample # Mg% Sample # Mg% Sample # Mg% ------------------------------------------------------------------------------------------------------------------------------------PM602 10.40 PM630 2.56 PM650 11.50 ------------------------------------------------------------------PM603 10.85 PM631 11.85 PM651 10.40 ------------------------------------------------------------------PM604 10.10 PM632 12.35 PM652 10.30 ------------------------------------------------------------------PM605 10.20 PM633 12.15 PM653 11.40 ------------------------------------------------------------------PM606 11.45 PM634 12.25 PM654 11.70 ------------------------------------------------------------------PM607 9.53 PM635 8.62 PM655 11.20 ------------------------------------------------------------------PM612 10.40 PM636 8.25 PM656 12.60 ------------------------------------------------------------------PM613 10.90 PM637 9.56 PM657 12.45 ------------------------------------------------------------------PM614 9.05 PM638 12.35 PM658 12.85 ------------------------------------------------------------------PM615 12.05 PM639 12.80 PM659 12.55 ------------------------------------------------------------------PM616 10.35 PM640 13.05 PM660 12.65 ------------------------------------------------------------------PM617 10.00 PM641 11.95 PM661 12.35 ------------------------------------------------------------------PM619 7.71 PM642 12.65 PM662 12.30 ------------------------------------------------------------------PM622 9.19 PM643 12.10 PM663 12.55 ------------------------------------------------------------------PM623 10.05 PM644 10.55 PM664 11.00 ------------------------------------------------------------------PM624 11.20 PM645 11.90 ------------------------------------------------------------------PM628 11.85 PM646 11.85 ------------------------------------------------------------------PM629 12.70 PM649 10.75 ------------------------------------------------------------------
The dolomite block is of as high a purity as those past producers of magnesium from dolomite and near identical to the National Institute of Standards & Technology Standard Reference Material 88b. (See news releases dated Jan 20, 2009, July 07, 2009 and Sept 15, 2010).
Management is currently in discussions with consultants with the expertise and knowledge of the global magnesium market and operations. The Company will be seeking the funding to facilitate the completion of a Preliminary Economic Assessment in order to advance the project to its next level of development.
Assays were performed by ALS Chemex Laboratories, located in Vancouver, British Columbia.
About Magnesium:
Although magnesium is found in over 60 minerals, only dolomite, magnesite, brucite, carnallite and olivine are of commercial importance. Magnesium and other magnesium compounds are also produced from seawater, well and lake brines and bitterns. Magnesium metal's principal use is as an alloying addition to aluminum, and these aluminum-magnesium alloys are used mainly for beverage cans; another major use of Magnesium is as an alloy in the structural components of automobiles and machinery. Magnesium also is used to remove sulphur from iron and steel.
In 2009, magnesium was produced by only one company in the USA at a plant in Utah by an electrolytic process that recovered magnesium from brines from the Great Salt Lake. China produces approximately 80% of the world's magnesium and enjoys market dominance. The American government has placed countervailing duties against Chinese imports.
About Molycor Gold Corp:
Molycor is a diversified precious, speciality and base metal exploration and development company focusing on magnesium, molybdenum and gold exploration and development in North America.
This release was reviewed by Norm Tribe, P.Eng., a qualified person recognized under National Instrument 43-101.
On Behalf of Management
Larry W. Reaugh, Chief Executive Officer
For all Molycor Gold Corp. investor relations needs, investors are asked to visit the Molycor Gold Corp. website at www.molycor.com.
This news release may contain certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time with the TSX-Venture Exchange, the British Columbia Securities Commission and the US Securities and Exchange Commission.
The TSX-Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Molycor Gold Corp. Chief Executive Officer 604-531-9639 604-531-9634 (FAX) info@molycor.com www.molycor.com
Source: Marketwire Canada (September 29, 2010 - 6:01 AM EDT)
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Crocodile Gold Identifies New Extension to Cosmo Deposit Which Could Potentially Lead to Significant Increase in Cosmo Resource-Intersects 6.85 g/t Au Over 17.7 Metres
Sep. 28, 2010 (Marketwire) --
TORONTO, ONTARIO -- (Marketwire) -- 09/28/10 -- Crocodile Gold Corp. (TSX: CRK)(OTCQX: CROCF)(FRANKFURT: XGC)("Crocodile Gold" or the "Company") is pleased to announce the latest diamond drill results from the Cosmo project in the Northern Territory of Australia (refer to Figure 1 below for property location map). Results at the south end of the current Cosmo mineral resource estimate under the historic open pit from CP009, CP009W1 and CP009W2 indicate that it could potentially provide additional bulk tonnage material to the Cosmo underground mine. In addition, the mineralization continues to extend to the north of and down dip of the existing mineral resource estimate at Cosmo along strike towards the Howley project in CP006 and CP006W1 and that a mineral resource expansion incorporating these results is highly probable.
Highlights of these drill results include:
-- 3.99 g/t Au over 4.3 metres in hole CP006W1 approximately 200 metres
north of existing resources on the East Lode
-- 3.43 g/t Au over 3.9 metres, 4.17 g/t Au over 3.0 metres and 8.38 g/t Au
over 2.1 metres in CP009W1, 100 metres south and over 400 metres down
dip of existing mineralization in the West Lode
-- 6.85 g/t Au over 17.7 metres in hole CP009W1
-- 8.85 g/t Au over 7.0 metres in hole CP009W2
-- 3.13 g/t Au over 28.7 metres in hole CP009 including 7.13 g/t Au over
5.0 metres, 5.66 g/t Au over 6.4 metres and 2.24 g/t Au over 7.7 metres
In releasing this information, Mike Hoffman, President and Chief Executive Officer of Crocodile Gold commented, "These latest drill results at Cosmo continue to show that the mineralization extends well beyond the existing mineral resource. We have doubled the strike length at Cosmo through our drilling program and expect the mineral resource estimate to increase once the results of our drill campaign are incorporated."
Mark Edwards, Geology Manager of Crocodile Gold commented, "We are encouraged that this latest drilling has identified a potentially new underground target south of the existing mineral resource close to current underground development which has not been tested by previous drilling. We expect to further drill test this area as development continues."
These results are part of the ongoing infill and extension drill program at Cosmo to further define the existing mineralization and to expand the mineralization along strike and at depth. Crocodile Gold is currently developing the Cosmo underground mine with production expected in mid-2011. The Cosmo mine is expected to contribute 100,000 ounces of production annually in 2012, the first full year of production. Crocodile Gold plans to drill from underground as ramp development continues at Cosmo with the advantage of lower cost drilling compared to drilling from surface.
Of significance is that a new potential target for underground drilling and development has been identified, south of the existing mineral resource on the West Lode and on strike with the Phantom Pit. As is shown in Table 1 below, a number of significant intercepts were intersected in hole CP009W1, the uppermost wedge of hole CP009, past the modelled resource lode area through the Cosmo anticline core into what is thought to be the strike extension of the Phantom lodes. The Phantom ore body was previously mined in the adjoining Phantom Pit, located directly to the south of the existing Cosmo Pit (refer to Figure 2 below - Cosmo Drill Plan). Initial interpretation of the Phantom lodes suggests that the Phantom lodes occur approximately 430 metres below surface if projected in the section containing holes CP009, CP009W1 and CP009W2 (Figure 5) approaching the surface to within approximately 130 metres or approximately 60 metres below the existing Cosmo Pit shell. Additional drilling will assist in outlining the mineralization.
The current Cosmo mineral resource model encompasses the Cosmo eastern lodes down to a vertical depth of approximately 655 metres below surface and the western lodes down to a vertical depth of approximately 350 metres below surface. The strike length of each of the parallel eastern lodes is approximately 440 metres, and is approximately 260 metres on the western lodes. The majority of historical drilling at Cosmo has focused on the eastern lodes.
Crocodile Gold is using the latest drilling results in the current mineral resource upgrade which is due for completion in early 2011. This information will then be used in a detailed mine schedule and planning. Currently, the Resource Development team is working to incorporate these new drilling results to plan for exploration activities in 2011 based primarily on underground diamond drilling testing the depth extensions of the known east and west lodes plus exploration drilling on targets such as the newly defined Phantom lodes.
Table 1: Cosmo Diamond Drill Results
----------------------------------------------------------------------------
Grid Coordinates Survey Data Interval
-----------------------------------------------------------
True
Local Local From Interval Width Grade
Hole ID Easting Northing Azimuth Dip (m) To (m) (m) (m) (g/t Au)
----------------------------------------------------------------------------
CP006 4430 2095 95 -65 723.5 725.5 2.0 1.7 2.54
----------------------------------------------------------------------------
and 764.0 768.0 4.0 4.0 1.98
----------------------------------------------------------------------------
including 764.0 767.0 3.0 3.0 2.32
----------------------------------------------------------------------------
and 784.7 787.2 2.5 2.5 3.34
----------------------------------------------------------------------------
and 878.1 883.5 5.4 4.1 2.22
----------------------------------------------------------------------------
and 890.5 892.5 2.0 1.5 3.81
----------------------------------------------------------------------------
CP006W1 4504 2085 93 -62 558.4 571.9 13.5 11.6 2.09
----------------------------------------------------------------------------
including 566.4 570.7 4.3 3.7 3.99
----------------------------------------------------------------------------
CP007W1 5162 1780 242 -70 463.7 466.5 2.8 1.6 0.76
----------------------------------------------------------------------------
and 476.7 482.2 5.5 3.4 1.63
----------------------------------------------------------------------------
and 512.7 516.7 4.0 2.6 1.75
----------------------------------------------------------------------------
CP009 5270 1618 243 -56 384.2 395.4 11.2 5.7 2.38
----------------------------------------------------------------------------
including 388.9 395.4 6.5 3.5 3.41
----------------------------------------------------------------------------
and 411.6 416.7 5.1 2.5 5.39
----------------------------------------------------------------------------
and 428.8 457.5 28.7 15.2 3.13
----------------------------------------------------------------------------
including 428.8 433.8 5.0 3.0 7.13
----------------------------------------------------------------------------
including 439.1 445.5 6.4 3.8 5.66
----------------------------------------------------------------------------
including 449.8 457.5 7.7 4.4 2.24
----------------------------------------------------------------------------
CP009W1 5217 1591 241 -54 207.2 224.9 17.7 12.2 6.85(i)
----------------------------------------------------------------------------
and 228.0 230.9 2.9 2.1 2.95
----------------------------------------------------------------------------
and 359.9 367.4 7.5 5.6 1.99
----------------------------------------------------------------------------
and 371.9 379.4 7.5 5.8 2.02
----------------------------------------------------------------------------
and 416.4 418.9 2.5 1.8 2.12
----------------------------------------------------------------------------
and 522.4 531.9 9.5 7.4 2.00
----------------------------------------------------------------------------
and 617.7 623.0 5.3 3.0 3.64
----------------------------------------------------------------------------
and 697.8 701.7 3.9 1.6 3.43
----------------------------------------------------------------------------
and 716.8 719.8 3.0 1.0 4.17
----------------------------------------------------------------------------
and 722.1 724.2 2.1 0.8 8.38
----------------------------------------------------------------------------
CP009W2 5176 1568 241 -45 156.2 160.4 4.2 2.8 9.32
----------------------------------------------------------------------------
and 164.8 171.3 7.0 4.4 8.85
----------------------------------------------------------------------------
and 179.2 187.4 8.2 5.0 3.32
----------------------------------------------------------------------------
(i)Results have had top cut of 35 g/t applied
About Crocodile Gold
Crocodile Gold is a Canadian company with operating gold mines in the Northern Territory of Australia and a land package of over 2,500 km2. Crocodile Gold is currently mining from the Howley, North Point and Princess Louise open pit mines and the Brocks Creek underground mine. Crocodile Gold commenced mining in November 2009 and announced its first gold pour in December 2009 at its Union Reefs Mill. The Company is currently developing the Cosmo underground mine. Ore is currently processed at the 2.4 million tonne per year Union Reefs Mill. Crocodile Gold has 3.09 million ounces of NI 43-101 compliant measured and indicated resources (42.9 million tonnes at an average grade of 2.3 g/t gold) and 1.94 million ounces of inferred resources (26.7 million tonnes at an average grade of 2.3 g/t gold) (see Annual Information Form dated March 31, 2010 and Crocodile Gold press releases dated September 8, 2009 and January 25, 2010). The Company has an exploration program in place and is drilling on several key properties on its expansive land package. Crocodile Gold's main focus is on the Cosmo/Howley corridor which covers a five kilometre strike length of a 25 kilometre trend.
Qualified Person
Mark Edwards, Geology Manager of Crocodile Gold Australia Operations is a "qualified person" as such term is defined in National Instrument 43-101 and has reviewed and confirmed the technical information and data included in this press release.
Drill samples were assayed at Northern Australian Laboratories (NAL).
Results are based on 50g fire assays.
All Intersections are from half diamond core.
Mean grades have been calculated on a minimum of 2m interval, 0.7g/t lower cut-off and no upper cut-off grade applied (unless stated). Internal dilution included and calculated to ensure interval is greater than 2.0g/t.
All intersections are down hole intervals.
All deviations have been verified by down hole camera and or gyro probe survey.
Cautionary Note
Certain information set forth in this press release contains "forward-looking statements", and "forward-looking information under applicable securities laws. Except for statements of historical fact, certain information contained herein constitutes forward-looking statements which include management's assessment of Crocodile Gold's future plans, operations and mineral resource estimates and are based on Crocodile Gold's current internal expectations, estimates, projections, assumptions and beliefs, which may prove to be incorrect. Some of the forward-looking statements may be identified by words such as "expects" "anticipates", "believes", "projects", "plans", and similar expressions. These statements are not guarantees of future performance and undue reliance should not be placed on them. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause Crocodile Gold's actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to: liabilities inherent in mine development and production; geological, mining and processing technical problems; Crocodile Gold's inability to obtain required mine licenses, mine permits and regulatory approvals required in connection with mining and mineral processing operations; competition for, among other things, capital, acquisitions of reserves, undeveloped lands and skilled personnel; incorrect assessments of the value of acquisitions; changes in commodity prices and exchange rates; currency and interest rate fluctuations; various events which could disrupt operations and/or the transportation of mineral products, including labour stoppages and severe weather conditions; the demand for and availability of rail, port and other transportation services; the ability to secure adequate financing and management's ability to anticipate and manage the foregoing factors and risks. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Crocodile Gold undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking statements.
NOTE: To view Figures 1-5, please visit the following link - http://media3.marketwire.com/docs/Figures12345.pdf.
Contacts:
Crocodile Gold Corp.
Michael Hoffman
President and CEO
416-861-2964
Crocodile Gold Corp.
Ashleigh Clelland
Manager, Investor Relations
416-861-5899
info@crocgold.com
www.crocgold.com
Source: Marketwire (September 28, 2010 - 6:05 PM EDT)
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Green Equity Holdings Enters Into Letter of Intent With Strategic Energy Supplies Corp.
To Jointly Launch Brown Grease Feedstock Recycling Plants Nationwide
Sep. 28, 2010 (Marketwire) --
DEERFIELD BEACH, FL -- (Marketwire) -- 09/28/10 -- Green Equity Holdings, Inc. (OTCQB: CXTO) ("GEH") announced today that it has entered into a letter of intent with Strategic Energy Supplies Corporation ("SESC"), a Florida-based clean energy solutions provider, to jointly build and deploy brown grease feedstock recycling plants nationwide. GEH has also begun an extensive due diligence review, and subject to satisfactory findings, the Company anticipates entering into a definitive agreement for the proposed joint venture on or before October 31, 2010.
The definitive agreement is anticipated to provide the following: (i) SESC will initiate construction of not less than three (3) brown grease recycling plants within the first year of the entering into the proposed joint venture agreement; and (ii) GEH will be required to invest up to $1.5 million for each plant under construction in the first year, in exchange for scaled ownership interests in the proposed plant as follows: (i) a 70% ownership interest with respect to the first plant; (ii) a 60% ownership interest with respect to the second plant; and (iii) a 50% ownership interest with respect to the third plant and all additional plants thereafter.
GEH is particularly excited about the proposed joint venture agreement because, among other potential benefits, SESC is the owner of patent-pending Thermal Depolymerization2 grease trap waste technology. SESC's novel technology, under the proposed JV agreement, may be utilized by GEH under an exclusive licensing agreement with SESC to be entered into as part of the definitive agreement.
Brown trapped grease is collected from grease traps installed in commercial, industrial and municipal sewerage facilities worldwide. According to a Statewide Feasibility Study for a Potential New York State Biodiesel Industry in 2004, more than 475 million gallons of biodiesel can be produced from brown grease generated in the United States. Each GEH plant is designed to produce 650,000 to 1,000,000 pounds (295-450 tons) of organic solids that form soil additives or fuel sources.
Raymond Dias, Founder, President and Chief Executive Officer of GEH, said, "A key aim of this proposed joint venture is to capitalize on the next evolution of utilizing recyclable brown grease to create cost-effective and renewable alternative sources of energy. It is anticipated that suppliers of trapped brown grease will be able to turn an expense (transportation and legal disposal of brown grease) into a new revenue stream, with the joint venture partners (GEH and SESC) making a strategic investment in the high-growth green energy sector to increase shareholder value."
Additional details of the transaction are forthcoming.
About SESC
Strategic Energy Supplies Corporation (SESC) is a privately-held services provider of clean technology based on its patent-pending Thermal Depolymerization2 (TDP). TDP2 is a process using hydrous pyrolysis for the reduction of complex organic materials (usually waste products of various sorts, often known as biomass and plastic) into light crude oil. It mimics the natural geological processes thought to be involved in the production of fossil fuels. SESC operates one brown grease feedstock recycling plant in Florida, and is seeking joint venture partners to establish other plants nationwide. For more information, please see www.StrategicEnergySupplies.com.
About Green Equity Holdings, Inc.
Green Equity Holdings Inc. discovers, invests and/or acquires development-stage, high-growth businesses with novel solutions, clean technologies and eco-friendly products that serve the global alternative energy sector. Incorporated in 2002 in the State of Nevada, GEH is majority owned by Fusion Capital Investments Corporation. For more information, please visit www.greenequityholdings.com.
Certain statements contained herein constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on current expectations, estimates and projections about the Company's industry, management's beliefs and certain assumptions made by management. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict. Because such statements involve risks and uncertainties, the actual results and performance of the Company may differ materially from the results expressed or implied by such forward-looking statements. Given these uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Unless otherwise required by law, the Company also disclaims any obligation to update its view of any such risks or uncertainties or to announce publicly the result of any revisions to the forward-looking statements made here; however, readers should review carefully reports or documents the Company files periodically with the Securities and Exchange Commission.
Contact:
Green Equity Holdings, Inc.
Raymond Dias
President
Email Contact
Tel: 954-573-1709
Fax: 954-416-2883
Source: Marketwire (September 28, 2010 - 4:00 PM EDT)
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Goldstone-Premier Joint Venture Drilling Expands Deep Gold Zones at Hardrock Project
5.49 g/t Au Across 53.0 m Including 11.34 g/t Au Across 19.5 m
TORONTO, ONTARIO, Sep. 28, 2010 (Marketwire) -- GOLDSTONE RESOURCES INC. (TSX:GRC)(PINK SHEETS:GRSZF) today announced that deep drilling by its joint venture partner Premier Gold Mines Ltd. as operator continues to delineate significant gold mineralization in multiple horizons below historically mined zones where more than 2.1 million ounces was produced to maximum depths of only 600 metres at the Hardrock Project in Northwestern Ontario. Goldstone holds a 30 percent carried interest in the Hardrock Project.
Because of continued success, additional drills are being added such that eleven drill rigs will be operational on the property in the coming weeks. Recent highlights include:
-- Deep drilling in the F-Zone, following up a previously released intersection of 9.28 g/t Gold (Au) across 28.4 metres (m) (0.27 oz/t across 93.2 feet) in MM093, has returned 5.49 g/t Au across 53.0 m (0.16 oz/t across 173.9 feet) including 11.34 g/t Au across 19.5 m (0.33 oz/ton across 64.0 feet), and 4.36 g/t Au across 17.8 m (0.13 oz/ton across 58.4 feet) in MM172. -- Deep drilling to the west of historical mine workings in the F-zone returned multiple gold intersections including 4.36 g/t Au across 17.8 m (0.13 oz/t across 58.4 feet) and including 8.36 g/t Au across 4.3 m (0.24 oz/t across 14.1 feet) in MM157. Of note, this intersection is located 300 metres west of, and 50 metres below the deepest and western- most mining. -- Deep drilling in the North Zone and F-Zone continues to intersect strong gold values suggesting excellent resource potential proximal to and below existing mine workings.
"Our deep drilling below the historic mine workings is returning impressive results in three separate areas. This is very significant for the project because it confirms that the historic zones extend to depth and are wide open for expansion" stated Tim Twomey, Exploration Manager for Premier. "Drilling at Hardrock continues to deliver strong results in multiple zones that are expected to add materially to our current gold resource".
"We continue to be pleased with the progress at Hardrock and the excellent results obtained to date, which we believe underscore the unrealized value of both Goldstone and the Beardmore-Geraldton Camp", added Philip Cunningham, Goldstone Chairman and Interim CEO.
F Zone
The F-Zone is the largest of the past-producing mine zones at Hardrock which produced more than 1.4 million ounces utilizing bulk underground methods with widths often exceeding 30 metres (100 feet). Importantly, hole MM172 tested up- plunge of an area where high grade gold mineralization was identified below the F-Zone on the bottom mine level (Level 13) but was never mined. This target, which is interpreted to represent a second lense of the F-Zone, remains wide open for expansion. Current drilling is focusing on defining mineralization proximal to and below the lower levels of the mine. To-date, five holes have been drilled over a 250 metre strike length (complete results presented in Table 1), successfully intersecting high-grade gold mineralization including:
-- 9.28 g/t Au across 28.4 m (0.27 oz/ton across 93.2 feet) including 43.50 g/t Au across 3.0 m (1.27 oz/ton across 9.8 feet) in hole MM093. -- 5.49 g/t Au across 53.0 m (0.16 oz/t across 173.9 feet) including 11.34 g/t Au across 19.5 m (0.33 oz/ton across 64.0 feet) in hole MM172. This intercept is located approximately 100 metres below the limits of mining of the F-Zone on this section. Table 1 New Sub Zone Intercepts from F-Zone Deeps - (i) denotes previously released drill holes ---------------------------------------------------------------------------- Dip/ Azi- UTM muth Inter- Grade Inter- Grade Coordi- (de- From To val (g/ val (oz/ Hole-ID nates (m) grees) (m) (m) (m) tonne) (ft) ton) Zone----------------------------------------------------------------------------MM093(i) 5502754 N -66/360 564.1 592.5 28.4 9.28 93.2 0.27 F -----------------------------------------------including 503397 E 588.0 591.0 3.0 43.50 9.8 1.27 F----------------------------------------------------------------------------MM100(i) 5502754 N 660.0 694.5 34.5 2.10 113.2 0.06 F 503189 E -65/360 ----------------------------------------------- 750.2 759.5 9.3 4.71 30.5 0.14 F----------------------------------------------------------------------------MM116 5502675 N 816.0 817.5 1.5 9.70 4.9 0.28 Fextension 503300 E -65/360 ----------------------------------------------------------------------------MM025 extension 5502721 N -65/360 709.1 732.4 23.3 2.08 76.4 0.06 F -----------------------------------------------including 503500 E 709.1 710.3 1.2 8.49 3.9 0.25 F -----------------------------------------------including 728.6 732.4 3.8 5.31 12.5 0.16 F----------------------------------------------------------------------------MM172 5502660 N 640.5 693.5 53.0 5.49 173.8 0.16 F 503600 E -66/360 -----------------------------------------------including 674.0 693.5 19.5 11.34 64.0 0.33 F----------------------------------------------------------------------------True widths estimated at approximately 70% of intersection Note that gaps in hole numbers in these tables are due to 10 different drillrigs assigned the next sequential drill-hole number as each hole is completed. These are being drilled in five separate areas within the Hardrock Project. Other hole numbers can be considered to carry no significant values or are included in other zones, some of which may have already been released.
Hardrock Western Deeps F Zone
One drill is currently testing for mineralization to the west of, and below the limits of historical mining at Hardrock which was mined to a maximum depth of 600 metres. This is considered to be shallow for an Archean gold deposit, with more than 2.1 million ounces having been recovered. The new drilling is located approximately 300 metres to the west of, and 50 metres below, the western-most mined area at Hardrock. Two gold zones were intersected in hole MM157 with assays of 4.36 g/t Au across 17.8 m (0.13 oz/ton across 58.4 feet) including 8.36 g/t Au across 4.3 m (0.24 oz/t across 14.1 feet) and a second zone that returned 5.44 g/t Au across 4.5 m (0.16 oz/t across 14.8 feet). Additional drilling in this new area is ongoing. New drill results from the western extension area are contained in Table 2.
Table 2 New Sub Zone Intercepts from Western Extension drilling ---------------------------------------------------------------------------- Dip/ UTM Azi- Coordi- muth Inter- Grade Inter- Grade nates (de- From To val (g/ val (oz/ Hole-ID (m) grees) (m) (m) (m) tonne) (ft) ton) Zone----------------------------------------------------------------------------MM157 899.5 924.0 24.5 3.21 80.4 0.09 F -----------------------------------------------including 5502887 N -80/360 904.7 922.5 17.8 4.36 58.4 0.13 F -----------------------------------------------including 501427 E 904.7 909.0 4.3 8.36 14.1 0.24 F ----------------------------------------------- 938.5 943.0 4.5 5.44 14.8 0.16 F----------------------------------------------------------------------------True widths estimated at approximately 70% of intersection
North Zone
Drilling is also focused on expanding mineralization below the bottom level of the historically mined North Zone which remained open at the time of closure. New drill results from the North Zone are contained in Table 3. Of note, hole MM164A, which represents the deepest hole drilled to-date within the North Zone target approximately 570 metres down plunge of the bottom level of the mine (13th Level), has returned 12.25 g/t Au across 2.4 m (0.36 oz/t across 7.9 feet). Ongoing drilling with four drill rigs is continuing to expand mineralization in this area. An X-Zone in MM155D that grades 29.10 g/t over 1.5 m is a quartz vein that will require close-spaced drilling, likely from underground, to measure its potential. It is nearby to MM073, which returned 17.70 g/t over 1.5 m.
Table 3 New Sub Zone Intercepts from North Zone and F-Zone Deeps ---------------------------------------------------------------------------- Dip/ UTM Azi- Coordi- muth Inter- Grade Inter- Grade nates (de- From To val (g/ val (oz/ Hole-ID (m) grees) (m) (m) (m) tonne) (ft) ton) Zone---------------------------------------------------------------------------- NorthMM106E 776.5 781.9 5.4 3.61 17.7 0.11 A ----------------------------------------------- 5503397 N Northincluding 781.0 781.9 0.9 7.29 3.0 0.21 A ----------------------------------------------- 503577 E -80/180 North 790.5 792.7 2.2 4.24 7.2 0.12 B ----------------------------------------------- North 799.8 801.0 1.2 5.17 3.9 0.15 C ----------------------------------------------- North 807.4 811.7 4.3 4.53 14.1 0.13 D----------------------------------------------------------------------------MM155 5503404 N -82/180 551.3 554.8 3.5 42.00 11.5 1.23 X 503500 E ----------------------------------------------------------------------------MM155A 5503404 N 722.0 724.0 2.0 10.66 6.6 0.31 X ----------------------------------------------- -82/180 North 908.5 911.5 3.0 5.97 9.8 0.17 D ----------------------------------------------- 503500 E North 917.5 919.2 1.7 3.84 5.6 0.11 E---------------------------------------------------------------------------- 5503404 N -82/180 hole MM155B abandoned North 503500 E ---------------------------------------------------------------------------- NorthMM155C 839.8 840.9 1.1 5.12 3.6 0.15 A ----------------------------------------------- 5503404 N -82/180 North 853.5 855.0 1.5 4.05 4.9 0.12 B ----------------------------------------------- 503500 E North 877.5 885.5 8.0 4.83 26.2 0.14 C ----------------------------------------------- Northincluding 882.5 884.0 1.5 15.90 4.9 0.46 C---------------------------------------------------------------------------- 534.0 535.5 1.5 29.10 4.9 0.85 X ----------------------------------------------- 5503404 N 503500 E -82/180 NorthMM155D 849.3 850.4 1.1 6.41 3.6 0.19 A ----------------------------------------------- North 863.8 865.5 1.7 6.68 5.6 0.20 C---------------------------------------------------------------------------- 5503404 N North 800.0 801.5 1.5 5.38 4.9 0.16 A ----------------------------------------------- 503500 E -82/180 NorthMM155E 849.1 850.5 1.4 6.72 4.6 0.20 C ----------------------------------------------- North 857.7 858.3 0.6 7.66 2.0 0.22 D ----------------------------------------------- North 862.0 865.5 3.5 4.71 11.5 0.14 E---------------------------------------------------------------------------- 5503404 N North 825.7 829.1 3.4 5.95 11.2 0.17 B ----------------------------------------------- 503500 E -82/180 NorthMM155F 840.4 844.5 4.1 3.21 13.4 0.09 C ----------------------------------------------- North 854.4 855.4 1.0 12.40 3.3 0.36 D---------------------------------------------------------------------------- 5503409 N NorthMM164A 951.4 953.8 2.4 12.25 7.9 0.36 A ----------------------------------------------- 503289 E -82/180 Northincluding 951.4 952.8 1.4 19.94 5.2 0.58 A ----------------------------------------------- North 962.5 964.0 1.5 14.00 4.9 0.41 B---------------------------------------------------------------------------- 5502820 N -56/360 NorthMM165 403.0 406.7 3.7 8.23 12.1 0.24 A ----------------------------------------------- 504250 E North 513.0 517.0 4.0 16.66 13.1 0.49 D----------------------------------------------------------------------------True widths estimated at approximately 70% of intersection Missing holes can be considered to carry no significant value or will be included with other zones
NN Zone Drilling
Recent drilling continues to define mineralization within the NN Zone, down- plunge and at depth below the previously announced, near-surface, NI43-101 resource estimate at Hardrock. Drilling in the NN Zone is shifting from a focus on open-pit style mineralization to defining narrower, underground style resources. Recent drilling has returned numerous significant intersections (previously released) including 9.62 g/t Au across 5.8 m (0.28 oz/t across 19.0 feet) in hole MM160, 4.93 g/t Au across 10.5 m (0.14 oz/t across 34.4 feet), 22.97 g/t Au across 24.8 m (0.67 oz/t across 81.4 feet) and 8.14 g/t Au across 9.0 m (0.24 oz/t across 29.5 feet). Follow-up drilling down-plunge of these intersections is underway.
The Hardrock Project is operated under a joint venture with Goldstone Resources Inc. (TSX:GRC) (Premier holds a 70% interesting the project). The Hardrock Project is host to several past-producing mines which collectively produced nearly 3.0 million ounces of gold from 1938-1968 primarily from shallow depths within 600 metres of surface.. The Hardrock Project benefits from development advantages with the Trans-Canada Highway, Trans-Canada Pipeline, and major power lines running through the center of the property. A revised resource calculation is expected to be completed following the 2010 drill program containing both open pit and underground style resources.
Stephen McGibbon, P. Geo., is the Qualified Person for the information contained in this press release and is a Qualified Person within the meaning of National Instrument 43-101. Assay results are from core samples sent to Activation Laboratories, an accredited mineral analysis laboratory in Ancaster, Ontario, for preparation and analysis utilizing both fire assay and screen metallic methods.
About Goldstone
Formed by a late 2009 merger of Ontex Resources and Roxmark Mines, Goldstone Resources is a well funded gold exploration and development company operating in the historically significant Geraldton-Beardmore camp of Northwestern Ontario and focused on gold exploration and deposit delineation at its Key Lake, Brookbank, Northern Empire and Leitch-Sand River gold properties. A preliminary economic assessment of the Brookbank deposit is being finalized by Micon International. The Camp is host to several past producers in a district that has historical production of more than 4.1 million ounces of gold from high grade ore before being shut down primarily as a result of a $35 gold price. Goldstone's fully permitted 200-TPD Northern Empire mill is expandable to 1000 TPD.
Further information is available on the Company's website at www.grcmines.com and on SEDAR under the Company's profile at www.sedar.com.
Forward-Looking Statements
This news release includes certain "forward-looking statements". Such forward- looking statements involve risks and uncertainties. The results or events predicted in these forward-looking statements may differ materially from actual results or events. Any forward-looking statement speaks only as of the date of this news release and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.
Neither Toronto Stock Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
Goldstone Resources Inc. Chairman and Interim CEO (647) 401-8965 www.grcmines.com
Source: Marketwire Canada (September 28, 2010 - 12:34 PM EDT)
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Kalahari Greentech, Inc. Commences Testing of Wind Generator's Turbine Blades
Sep. 28, 2010 (GlobeNewswire) --
BALTIMORE, Sept. 28, 2010 (GLOBE NEWSWIRE) -- Kalahari Greentech, Inc. (Pink Sheets:KHGT) released a statement today that company representatives have begun testing the Wind Generator's turbine blades. The test objectives will measure the total lift force generated by the airflow velocities, as well as the various angles of attack at various temperatures and relative humidity.
The data collected will be used to refine the configuration in the internal chambers of the wind generator, thus making the unit as effective and efficient as possible.
Wind and solar are fast becoming the leading sources of renewable energy, which puts Kalahari Greentech in the right place at the right time. Kalahari Greentech designs, produces and provides wind turbines, solar collectors and other sustainable energy technologies. Nearly $2 billion in money from the American Recovery and Reinvestment Act has been spent on wind power, funding the creation of enough new wind farms to power 2.4 million homes over the past year. (Source: www.abcnews.com).
In a Bloomberg Business Week article, General Electric Co. said it expects global industry-wide sales for land-based wind turbines to grow by $130 billion in the next two years. (Source: http://www.businessweek.com/news/2010-03-02/ge-sees-130-bln-jump-in-land-turbine-sales-by-2012-update1-.html).
Kalahari's Wind Generator concentrates wind energy in a manner such that it can generate electric power at speeds usually too slow for conventional wind generators to produce any meaningful energy, or to even operate. It can also be modified to operate in water. For instance, it can be utilized in streams, rivers and tidal basins.
More information can be found on the company's website, www.kalaharigt.com.
About Kalahari Greentech, Inc.: Kalahari Greentech Inc. is an energy company focused on developing, constructing and operating wind and solar energy projects, either on its own or in partnership with other energy companies. The company's main focus is to seek out opportunities to utilize its technology to develop renewable energy sources.
Forward Looking Statements: This press release contains certain forward-looking statements. Investors are cautioned that certain statements in this release are "forward looking statements" and involve both known and unknown risks, uncertainties and other factors. Such uncertainties include, among others, certain risks associated with the operation of the company described above. The Company's actual results could differ materially from expected results.
CONTACT: Kalahari Greentech
Investor Relations
410-242-0763
Source: Globe Newswire (September 28, 2010 - 10:42 AM EDT)
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ROK Scores With Etisalat Nigeria
Soccer News and Live Scores Now Available as Mobile Subscription Service in Nigeria
Sep. 28, 2010 (GlobeNewswire) --
LONDON, Sept. 28, 2010 (GLOBE NEWSWIRE) -- ROK Global, the UK-based mobile technologies, applications and services company, has announced the launch of its soccer-based news subscription service, developed in conjunction with Goal.com, in Nigeria through its Nigerian licensor, 70th Precinct with innovative mobile operator, Etisalat Nigeria.
Priced at Naira 75 per week (approximately US$0.49c per week) per soccer club followed, Etisalat's Goal.com service delivers news and scores via SMS from the top football clubs in the English Premier League, La Liga, Serie A and the Bundesliga. Subscribers will receive a minimum of 2 news update SMS per day per club followed, plus live scores as they happen.
"Soccer is an obsession to millions of Nigerians and, as such, we are very excited to have partnered with Goal.com in delivering what we all expect to be a very popular text-based service to Etisalat," said Jonathan Kendrick, Chairman of ROK Global.
"Goal.com is the world's largest football community with 30 million monthly unique users and Nigeria is one of our largest markets. We are delighted to work with Etisalat and ROK to bring to local fans the most exciting and complete football news for mobile," said Gianluigi Longinotti-Buitoni, Goal.com's Founder and President.
According to Steven Evans, CEO Etisalat Nigeria, "Football is a very important part of Nigerian life and that is why we are pleased to unveil this unique service for our subscribers who are football fans. Our partnership with ROK and Goal.com is in line with our overall support for football in Nigeria as exemplified by the unique Etisalat Football Community. Subscribers who register via the community will receive up-to-the minute news, tips and trivia about their favorite club anywhere in the world."
Etisalat Nigeria's mobile subscriber base has reached 5 million, just two years after its entry into the Nigerian telecoms space and its goal is to be one of the top two operators in Nigeria. The company has network coverage in all 36 states of the federation and the FCT, Abuja and continues to expand and densify its network to provide qualitative service to its growing subscriber base.
The ROK Entertainment Group logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=5361
Forward-Looking Statement:
The information contained in this news release, other than historical information, consists of forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those described in these statements. Forward-looking statements regarding the timing of developing, testing and releasing existing and new products, of marketing and selling them, of deriving revenues and profits from them, as well as the effects of those revenues and profits on the Group's margins and financial position, are uncertain because many of the factors affecting the timing of those items are beyond the Group's control.
CONTACT: ROK Global
Bruce Renny
+44 (0)1902 374 896
bruce.renny@rokent.com
Source: Globe Newswire (September 28, 2010 - 10:11 AM EDT)
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WSGF Expands Entertainment Industry Sights Beyond Gaming and Golf
Sep. 28, 2010 (Marketwire) --
LAS VEGAS, NV -- (Marketwire) -- 09/28/10 -- World Series of Golf, Inc. (PINKSHEETS: WSGF) (OTCQB: WSGF) today announced that the Company has been approached to provide and help develop content for a new branded online social television network. During recent meetings in Las Vegas, World Series of Golf's CEO, Patrick Brown, and John Daly, Vice President of Broadcast Operations, met with representative of TODHD.com to discuss providing content for their new project. The opportunity would include providing existing programming as well as developing new programming for future distribution. While a deal has not yet been finalized, the opportunity is under consideration by the Company.
Patrick Brown, CEO of The World Series of Golf, stated: "In less than two months at the Company, we identified several exciting opportunities for the Company, including TODHD. This project already has involvement from television superstar, Kelsey Grammer and five time all-star Matt Williams, and is one we must consider. While the project is exciting in its own right, the fact that we were sought out by TODHD, less than two months after announcing our expanded business plan, is an encouraging indication from the industry."
About TODHD.com:
TODHD.com is branded social television network, offering an eclectic combination of streaming channel offerings, marketplace offerings, social interaction as well as an opportunity for fans to interact with celebrities.
About World Series of Golf, Inc.
Based in Las Vegas, World Series of Golf (www.worldseriesofgolf.com) is a global sports and entertainment company whose activities include land-based and online, skill-based golf events featuring a patent-protected method of play. World Series of Golf, combining the skill of golf and wagering format of No-Limit Texas Hold'em poker, was played at exclusive Las Vegas-area golf resorts in 2007 and 2008. The third annual World Series of Golf was played May 11-14, 2009, at the Las Vegas Paiute Golf Resort. The company plans to achieve its international expansion goals through strategic partnerships, sponsorships, and the founders' extensive experience and contacts in the field of sports marketing. For additional information, or to register for an event, visit the company's website at www.worldseriesofgolf.com.
FORWARD-LOOKING STATEMENTS
Statements made in this news release may be forward-looking statements within the meaning of Federal Securities laws that are subject to certain risks and uncertainties and involve factors that may cause actual results to differ materially from those projected or suggested. Factors that could cause actual results to differ materially from those in forward-looking statements include, but are not limited to: (1) the availability of additional funds to enable us to successfully pursue our business plan; (2) the uncertainties related to the appeal and acceptance of our proprietary method of play and our planned on-line products; (3) the success or failure of our development of additional products and services; (4) our ability to maintain, attract and integrate management personnel; (5) our ability to secure suitable broadcast and sponsorship agreements; (6) our ability to effectively market and sell our services to current and new customers; (7) changes in the rules and regulations governing our business; (8) the intensity of competition; and (9) general economic conditions. Additional factors that could cause actual results to differ materially from those projected or suggested in any forward-looking statements are contained in World Series of Golf®'s most recent periodic reports on Form 10-K and Form 10-Q that are filed with the Securities and Exchange Commission. World Series of Golf® assumes no obligation to update and supplement forward-looking statements because of subsequent events.
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Contact:
World Series of Golf, Inc.
info@worldseriesofgolf.com
702.740.1740
Source: Marketwire (September 28, 2010 - 9:05 AM EDT)
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Alexis Exploration Closes in on Potential Large Deposit in Val-d'Or
Sep. 28, 2010 (Marketwire) --
TORONTO, ONTARIO -- (Marketwire) -- 09/28/10 -- ALEXIS MINERALS CORPORATION (TSX: AMC)(OTCQX: AXSMF) ("Alexis" or the "Company") is pleased to announce exploration on its extensive properties in Val-d'Or, Quebec is continuing in the search for a large Volcanogenic Massive Sulphide (VMS) polymetallic mineral deposit that is considered to lie undiscovered in the Camp, near the Louvicourt Mine. Alexis recently completed an additional deep hole (17314-11) and is now advancing a program to extend several historic drill holes on the Louvex and adjacent properties to broadly evaluate the up-dip area above the Deep West Zone, a new massive sulphide zone discovered in late 2008 (see news release, October 17, 2008). Previous seismic profiling conducted over the Louvicourt mine area identified a geophysical anomaly in this general area approximately four times larger than a similar anomaly detected over the Louvicourt Deposit. The continuing discovery of broad alteration and stringer sulphide zones; and recognition of regional folding in previously untested areas, should allow Alexis to vector drilling to ultimately locate and test this anomaly.
A single deep hole, 17314-11, was completed in July 2010, to test the up dip extension of the Deep West zone. Hole 17314-11 intersected strong VMS indicators including two stringer zones with local semi-massive chalcopyrite veins, at 1300 and 1350 metres (m) vertical depth, approximately 400 metres above the Deep West zone. Assay results from the stringer zones include:
-- 0.48% Copper (Cu) over 24.7 m (from 1374.1 to 1398.8 m); and
-- 0.40% Cu over 37.4 m (from 1493.9 to 1531.3 m)
Alteration associated with the stringer zones is approximately 450 metres wide and down-hole geophysics has identified edge and in-hole geophysical responses.
Alexis has commenced an additional drill program to extend two historic drill holes on the Louvex property for a total of 1300 metres of drilling. The two selected holes (17314-05 and 314-10) were previously stopped after crossing the Louvicourt Mine Horizon. Their extension will further test the upward extension of the Deep West environment located at vertical depths of between 800 and 1000 metres over a broad area of interest to the south of previous drilling. The Company anticipates samples collected from these holes will be of great importance in improving the understanding of the Louvex-Louvicourt-Deep West model. 3-D modeling of the geophysical down-hole responses will further aid in closing in on the target.
Deep West Zone:
Alexis considers the Deep West zone to be an important discovery in Val-d'Or. The Deep West discovery, announced in October, 2008, was made in hole 17314-10B which intersected a volcanogenic semi-massive to massive sulphide zone grading:
-- 6.81% Cu over 3.45 m
The semi-massive to massive sulphide horizon sits directly above two copper-rich, stringer- to disseminated-sulphides zones in a classical association that characterizes many VMS deposits in the region. The two stringer zones returned:
-- 0.53% Cu over 73.5 m (from 1927.0 to 2000.5 m); and
-- 0.41% Cu over 25.5 m (from 1852.0 to 1877.5 m)
Mineralization is located on the wholly-owned Dunraine property 1,720 metres vertically below surface, 700 metres south of and 1.5 km west of the Louvicourt Mine in Val-d'Or, Quebec (Past Production: 15.65 Million tonnes (Mt) @ 3.42% Copper (Cu), 1.59% Zinc (Zn), 25.8 gpt silver (gpt Ag) and 0.92 gpt gold (Au)).
Alexis has completed a revised interpretation of the Val-d'Or Camp recognizing a large Z-shaped regional fold. The Louvicourt Mine and the Deep West zone lie on different limbs of the fold and at different stratigraphic levels within the rock sequence. Extending selected drill holes previously drilled on the Louvicourt horizon will allow these holes to cross the fold and test the adjacent southern fold limb above the Deep West intersection. Hole 17314-11 has confirmed the new geological interpretation.
Alexis recognizes that a pattern of pairing of large massive sulphide deposits may exist in the Abitibi District; whereby 14-15 million tonne deposits, similar to Louvicourt, are located near massive sulphide deposits greater than 60 million tonnes. This is clearly demonstrated in the nearby Rouyn-Noranda Camp by the apparent pairing or close-proximity of the Quemont and Horne Deposits; and closer to Val-d'Or, near Cadillac, by the pairing of the Dumagami and LaRonde Deposits.
Quality Control
The technical and scientific content of this press release has been reviewed and approved by Denys Vermette, P.Geol, and Jean Girard, P.Eng., employees of the Company and Qualified Persons as defined under NI 43-101. Assay samples are taken from NQ or BQ core, sawed in half with one half sent to a commercial laboratory and the other half retained for future reference. A strict QA/QC program is followed on samples from drill core that includes mineralized standards, blank and field duplicate for each batch of samples. Analyses are performed by ALS Chemex of Val-d'Or, Quebec.
About Alexis Minerals
Alexis Minerals Corporation is a Canadian mining company listed on the Toronto Stock Exchange (symbol "AMC") and trades in the United States on the Over the Counter QX International platform (OTCQX: AXSMF). The Company owns the Lac Herbin producing gold mine in Val-d'Or and the right to earn a 100% interest in the Lac Pelletier gold property in Rouyn-Noranda, both in Quebec. Alexis also owns the Snow Lake Mine in Manitoba where a Feasibility Study is nearing completion. With these assets Alexis has the potential to increase gold production and is targeting mid-tier gold production levels in 2011-2012. Alexis undertakes exploration in the mineral rich Val-d'Or (100% ownership of 212 sq. km.) and Rouyn-Noranda Mining Camps (50% ownership of 785 sq.km and in joint venture with Xstrata Copper) as well as in the Snow Lake Mining Camp (100% ownership of 50 sq. km). Alexis Minerals has two drills active in Val-d'Or and two drills active in Snow Lake on surface exploration programs. For more information about Alexis Minerals visit www.alexisminerals.com.
Forward looking information
This document may contain or refer to forward looking information within the meaning of applicable securities laws, based on current expectations, including, but not limited to, mineralization projections, future exploration priorities, estimates and costs, projected capital and operating expenditures, future exploration plans and techniques, estimates regarding the timing and costs of exploration, estimates regarding the timing and completion of the feasibility study, mineral prices, and future mining plans. Forward looking statements are subject to significant risks and uncertainties, including those risks identified in the annual information form of the Company, which is available under the profile of the Company on SEDAR, and other factors that could cause actual results to differ materially from expected results. Estimates and assumptions underlying the mineralization projections are based upon extensive technical and scientific analysis conducted by the management of the Company, the results from drill programs and other exploration, the analysis of external consultants and information obtained by the Company from third parties. Readers should not place undue reliance on forward-looking information. Forward looking information is provided as of the date hereof and we assume no responsibility to update or revise them to reflect new events or circumstances.
Contacts:
Alexis Minerals Corporation
David Rigg
President and CEO
(416) 861-5889
(416) 861-8165 (FAX)
info@alexisminerals.com
Alexis Minerals Corporation
Bruce Barch
VP Investor & Corporate Affairs
(416) 861-5905 or Toll Free: 877-717-3027
bruce.barch@alexisminerals.ca
Alexis Minerals Corporation
Louis Baribeau
Relationniste
(514) 667-2304
lb@decorporateconsultants.ca
www.alexisminerals.com
Source: Marketwire (September 28, 2010 - 8:45 AM EDT)
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Global Ecology Corporation Announces the First U.S. Demonstration of Its Mobile Water Purification System
Sep. 28, 2010 (Marketwire) --
MONTCLAIR, NJ -- (Marketwire) -- 09/28/10 -- Global Ecology Corporation (PINKSHEETS: GLEC) (OTCQB: GLEC) announced today the first demonstration of its new Mobile Water Purification System in the United States.
The event will take place October 9th at the Living Waters Ministries in Wall, New Jersey. Representatives from the United Nations, state and local government officials and representatives of the news media have been invited to attend. Also present will be members of Rotary International, an international charitable organization that provides billions of dollars in aid and disaster relief worldwide.
Global Ecology CEO Peter Ubaldi said, "We have completed construction of our newly-designed mobile system and we will demonstrate its ability to convert contaminated water to pure clean drinking water.
"The upgraded technology in this new system not only allows for the immediate consumption of the water, but also treats the water with the company's patented IMS 1000™ solution so that water can be safely transported and stored even in tropical conditions. This is an important feature for developing countries with limited water transportation and storage infrastructure.
"Additionally, we are in negotiations with several distributors who have expressed a serious interest in marketing the system both domestically and internationally," Ubaldi said.
The demonstration will be recorded by a professional film crew and will be added to the Global Ecology company website.
About Global Ecology Corporation
Through its extensive network, Global Ecology Corporation (GEC) has obtained licensing rights to several EPA-approved technologies in the water treatment and soil remediation fields. These proprietary technologies help reduce algae, bottom sludge and harmful bacteria and are able to provide "green" and if needed, transportable methods to recover the usability of water, soil and land. For more information, please visit www.geco.us
Investors may contact President & CEO Peter Ubaldi at 973-655-9001 or Frank Hawkins, Hawk Associates, at 305-451-1888, e-mail: global.ecology@hawkassociates.com. To receive future releases in e-mail alerts, sign up at http://www.hawkassociates.com/about/alert.
This news release includes forward-looking statements regarding, among other things, the company's business and financial plans, strategies and prospects. Although the company believes that its plans, intentions and expectations reflected in or suggested by these forward-looking statements are reasonable, it cannot provide assurance that it will achieve or realize these plans, intentions or expectations. Many of the forward-looking statements contained in this news release may be identified by the use of forward-looking words such as: believe, expect, anticipate, should, planned, will, may, intend, estimated, and potential, among others. Important factors that could cause actual results to differ materially from the forward-looking statements made in this news release include market conditions and those set forth in any reports or documents that the company may publicly file from time to time.
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Peter Ubaldi
President & CEO
973-655-9001
Frank Hawkins
Hawk Associates
305-451-1888
global.ecology@hawkassociates.com
Source: Marketwire (September 28, 2010 - 8:42 AM EDT)
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Golden Hope Exploration Update
TORONTO, ONTARIO, Sep. 28, 2010 (Marketwire) -- Golden Hope Mines (TSX VENTURE:GNH)(PINK SHEETS:GOLHF) is pleased to report an exploration update on its 2010 diamond drill campaign. The company has been drilling the Bellechasse-Timmins gold deposit since April 13, 2010. As of Friday, September 24, the company has completed approximately 10, 215 meters of drilling in 40 holes.
37 holes were drilled in the immediate area of the Bellechasse-Timmins deposit. 3 holes were drilled at the Beland 2009 Anomaly 6.2 km south of the Bellechasse-Timmins Deposit.
Mineralization at the Bellechasse-Timmins Deposit has been followed for 825 metres along strike and 650 metres across strike, and is open both to the northeast and to the southwest, as well as to depth.
To date, the drill campaign has been an almost equal split between exploration drilling and definition drilling. Exploration drilling concentrates on testing geochemical anomalies and the likely extensions of known zones.
The goal of the definition drilling campaign is to trace the known mineralized structures to determine their volume.
The deposit is a 'nuggety' type deposit as a result of the primary distribution of gold in the mineralized zones. Diamond drill core cannot provide large enough samples on which to base an accurate estimate of average grade. As demonstrated by the approximately 710 tonnes 2009/2010 bulk sample at T1, the approximately 3 g/t average results were considerably higher than the approximate 1.5g to 2 g/t results from diamond drilling. The company expects that this is characteristic of the mineralized zones at Bellechasse-Timmins as well as elsewhere in the Bellechasse Belt. Therefore, the company is very satisfied with diamond drill data to date, which are consistent with historical results.
The drill campaign is currently on the second deep hole (BD2010-133), which will intersect the known zones (from east to west) including a portion of the 88 diorite, the T2B, T2A, T1 and the Ascot/Road Zone. The first deep hole (BD2010-132) intersected these same zones and ended at a vertical depth in the T1 zone of approximately 700 meters. Data from these two deep holes may confirm mineralization extends to depths beyond the 300 meters below surface demonstrated by historical drilling. The company believes that the mineralized breccias extend well beyond 1000 meters in depth.
Snow White (the 88 Diorite)
On September 22, 2010 the company released diamond drill results for a new, previously undefined package of quartz-filled breccias referred to internally as the 'Snow White Zone'. Significant intersections from those drill holes included 4 meters of 1.44 g/t and 34 meters of 3.68 g/t. The zone lies 300 metres southeast of the T1 Zone. Information gathered to date suggests this zone is approximately 70 meters true thickness. It is truncated at surface to the southwest but is open to the northeast. The company is currently stripping the overburden and has exposed part of the zone at surface, which may allow bulk sampling to confirm grade. Drill hole (BD2010-127) intersected the 88 diorite at approximately 70m and continued in diorite bearing quartz in sections to approximately 434 meters. Visible gold was present at approximately 390 meters or 320 meters vertical depth. These results are extremely encouraging and suggest that the Snow White Zone tonnage potential may rival that of the T1 Zone. 11 diamond drill holes have already been spotted to further test the Snow White (88 diorite) and are currently a priority of the diamond drill campaign.
T2A Zone
On September 22, 2010 the company released diamond drill results that extended the previously known T2A Zone from approximately 300 meters to 400 meters in length. This significant extension adds about 1500 tonnes per vertical metre tonnage potential of the T2A Zone. Both the T2 zones remain open to the northeast, to the southwest, and to depth. 36 definition drill holes have already been spotted for the T2 zones. This drilling will define the volume of the T2 zones to a strike length of 390 meters and to a depth of 300 vertical meters.
T1 Zone
Recent geochemical data suggests that the T1 Zone has possible significant extensions to the southwest. The company is most encouraged by this information since the T1 Zone contributes approximately 12,000 tonnes per vertical metre to the tonnage potential of the Bellechasse-Timmins Deposit.
Ascot /Road Zone
On September 22, 2010 the company released diamond drill results, which have traced the Ascot/Road Zone for over 825 meters to the northeast of the T1 Zone. These diamond drill holes were all exploration holes based on soil gas hydrocarbon geochemistry. They intersected mineralization mostly within the volcanics where vein systems tend to be less well developed than in the diorites. Some holes (BD2010-98,105,113) intersected the structure in diorite where mineralization is similar to that observed in the T2 zones. This indicates that the diorite in the part of the Ascot/Road Zone investigated begins somewhere between 50 to 100 meters below surface. The drill core recovered did not adequately explain the geochemical anomalies, and further deeper drilling is warranted. 13 diamond drill holes have already been spotted in the Ascot/Road Zone.
The company has also recently completed further soil hydrocarbon geochemistry northeast of the Ascot/Road zone. The information suggests that mineralization may be found for another 700 meters to the northeast. The company is very encouraged by these preliminary data and will look to continue its efforts to further define the Ascot/Road Zone and to follow the mineralization to the northeast.
2009 Beland Anomaly
The company also announced on September 22, 2010 that it has confirmed significant values for gold at the 2009 Beland Anomaly 6.2 kilometres southwest of the Bellechasse-Timmins. These exploration holes tested for gold mineralization indicated by soil gas hydrocarbon geochemistry. This was the first drilling to test the hypothesis that Bellechasse-Timmins style mineralization may exist elsewhere within the company's claims in Southeastern Quebec. The company is highly encouraged by these results and will continue to investigate selected areas within the Bellechasse Belt for evidence of similar auriferous quartz-filled breccias and veins.
Laval's Mountain and Sugar Bush
The company has also spotted 3 diamond drill holes at Laval's Mountain to test the geochemical anomalies. Laval's Mountain is approximately 9 kilometers northeast of Bellechasse-Timmins. The company has also spotted 3 diamond drill holes at Sugar Bush to test geochemical anomalies. Sugar Bush is approximately 6.1 kilometers northeast of Timmins-Bellechasse. These drill holes will further test the hypothesis that Bellechasse-Timmins style mineralization may exist elsewhere within the company's claims in Southeastern Quebec.
Assaying
Golden Hope Mines Limited uses Activation Laboratories in Ancaster, Ontario, for all of its analytical work, including the soil gas hydrocarbon geochemical determinations and interpretations.
The core samples undergo standard fire assaying on the first pass and, where warranted, are re-assayed using the total pulp metallic method. This process is time-consuming. However, it is considered the most suitable method for core analysis given the 'nuggety' nature of the Bellechasse-Timmins type deposits.
Cash
The company currently has approximately $2,300,000.
A drill table and map has been posted on our web site at www.goldenhopemines.com.
James E. Tilsley, P.Eng is acting as the qualified person (QP) for Golden Hope in compliance with National Instrument 43-101 and has reviewed the technical contents of this release.
About Golden Hope Mines Limited:
Golden Hope is a mineral exploration company that seeks to grow shareholder value through the acquisition, exploration and development of potentially large-scale gold and base metal projects suitable for underground and/or open-pit mining. The company's focus is in Quebec, Canada. The Bellechasse gold project in Southeastern Quebec includes the Timmins 1, Timmins 2 and Ascot gold zones, the new FSG volcanic environment targets and a number of recently claimed ultra basic/serpentine bodies. For further information on Golden Hope Mines Limited please visit www.goldenhopemines.com.
Forward-Looking Information:
This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address future production, reserve potential, exploration drilling, exploitation activities and events or developments that the company expects are forward-looking statements. Although the company believes the expectations expressed in such 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 statements. Various factors could cause actual results to differ materially from those in forward-looking statements. These include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. For more information on the company, investors should review Golden Hope's registered filings at www.sedar.com.
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 release.
Golden Hope Mines Limited President, Director 514-750-8218 416-864-0175 (FAX) fcandido@goldenhopemines.com or info@goldenhopemines.com www.goldenhopemines.com Paradox Public Relations 1-866-460-0408
Source: Marketwire Canada (September 28, 2010 - 8:31 AM EDT)
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Torch River Resources Ltd.: Mount Copeland Mo Occurrence Returns Significant Rare Earth Elements, Yttrium, Niobium, Titanium, Molybdenum & Copper Values from Rock Chip & Soil Samples
CALGARY, ALBERTA, Sep. 28, 2010 (Marketwire) -- Torch River Resources Ltd. ("Torch" or the "Corporation") (TSX VENTURE:TCR) (FRANKFURT:WNF) (PINK SHEETS:TORVF) is pleased to announce highlights of 34 rock chip and 72 soil samples taken from a 1.3 X 0.6 km area centered on Torch River Resources Copeland Property, located 25 km northwest of Revelstoke, BC. Of the 34 total rock chip samples, 23 were taken as chip composites across widths ranging from 0.18-2.8 meters (taken at right angles to apparent strike of mineral zone to represent true width), and 11 were sub-crop, not outcrop samples (i.e. not in-situ). Rock and soil samples were shipped to Pioneer Labs for lithium borate fusion, acid dissolution and ICPMS analysis for rare earth elements (14 of 15 analyzed, Promethium, Pm not analyzed), trace elements, and assays for Mo and Cu for select elevated rock chip samples (geochemical analysis certificate numbers 2102718, 2102718A, & 2102718B). A total of 8 rock chip samples (COPE10AR-3, 12, 19, 20, 22, 23, 25 & 26) contain elevated rare earth elements above the high end of the detection limit, and these samples have been forwarded to ALS Chemex, N Vancouver BC, for lithium borate fusion, acid dissolution and ICPMS analysis.
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 @ 1.096% Mo (historic resource estimate used by King Resources for 1970-73 mine development and underground workings). Lenses of syenite pegmatite or syenite aplite are concentrated along the north border of an extensive nepheline syenite body that occurs along the ridge crest in contact with calc-silcate metamorphic rocks located west of Mount Copeland. Lenses of syenite pegmatite or syenite aplite are common along the northern border of the nepheline syenite unit, and are the focus of economic interest because of their elevated concentrations of molybdenum, copper, rare earth elements, yttrium, niobium and titanium. Characteristically, the syenite aplites/pegmatites are parallel with foliation, but locally they cross it. Massive and disseminated sulphide and oxide mineralization occurs in the aplite and pegmatite lenses, and in marble-breccia, calc-silcate gneisses adjacent to the syenite-gneiss contact. Observations demonstrate that the syenite pegmatite and aplite host disseminated and fracture filling molybdenite with minor magnetite, ilmenite, pyrite, pyrrhotite, scheelite, and chalcopyrite. Molybdenite bearing zones are associated with secondary K-spar, calcite, biotite, chlorite and rare quartz.
Significant molybdenum, copper, rare earth (cerium, lanthanum, neodymium 3 of 15 rare earth elements), thorium, yttrium, niobium and titanium values from Aug, 2010 rock chip samples are summarized in the following table:
----------------------------------------------------------------------------Sample number Width (m) Zone Name Mo % Cu % Ce ppm ----------------------------------------------------------------------------COPE10 AR-01 1.00 Glacier Mine 0.63 0.01 165.2 ----------------------------------------------------------------------------COPE10 AR-02 1.20 Glacier Mine 0.49 0.01 132.1 ----------------------------------------------------------------------------COPE10 AR-03 greater than 0.60 Glacier Mine 0.95 0.02 1,000 ----------------------------------------------------------------------------COPE10 AR-04 1.00 Glacier Mine 1.33 0.01 297.8 ----------------------------------------------------------------------------COPE10 AR-05 1.00 Glacier E Ext 0.56 0.01 142.5 ----------------------------------------------------------------------------COPE10 AR-09 2.00 Glacier E Ext 0.77 0.01 103.3 ----------------------------------------------------------------------------COPE10 AR-10 1.00 Glacier E Ext 1.20 0.01 116.3 ----------------------------------------------------------------------------COPE10 AR-11 0.52 Glacier E Ext 0.10 0.01 396.1 ----------------------------------------------------------------------------COPE10 AR-12 greater than Sub-crop 6420' Peg 0.01 0.01 1,000 ----------------------------------------------------------------------------COPE10 AR-14 2.00 J-5 6,300' 0.19 0.01 35.5 ----------------------------------------------------------------------------COPE10 AR-15 0.20 6420' Peg 0.34 0.01 96.3 ----------------------------------------------------------------------------COPE10 AR-19 greater than 0.45 East Glacier 0.01 0.27 1,000 ----------------------------------------------------------------------------COPE10 AR-20 greater than 0.18 East Glacier 0.01 0.01 1,000 ----------------------------------------------------------------------------COPE10 AR-22 greater than 0.70 Marble Bx R 0.01 0.01 1,000 ----------------------------------------------------------------------------COPE10 AR-23 greater than 1.80 Marble Bx R 0.01 0.01 1,000 ----------------------------------------------------------------------------COPE10 AR-24 2.80 Marble Bx R 0.21 0.01 183.0 ----------------------------------------------------------------------------COPE10 AR-25 0.25 Marble Bx R 0.01 0.01 666.9 ----------------------------------------------------------------------------COPE10 AR-26 greater than 0.30 Marble Bx R 0.22 0.01 1,000 ----------------------------------------------------------------------------COPE10 AR-27 0.25 Marble Bx R 0.92 0.01 23.5 ----------------------------------------------------------------------------COPE10 AR-28 0.22 Marble Bx R 0.43 0.01 191.4 ----------------------------------------------------------------------------COPE10 AR-29 0.35 Marble Bx R 0.18 0.01 261.6 ----------------------------------------------------------------------------COPE10 AR-30 Sub-crop Marble Bx R 3.40 0.01 175.1 ----------------------------------------------------------------------------COPE10 AR-33 Sub-crop West Basin 0.01 1.32 306.1 --------------------------------------------------------------------------------------------------------------------------------------------------------Sample number La ppm Nd ppm Th ppm Y ppm Nb ppm Ti %----------------------------------------------------------------------------COPE10 AR-01 94.8 49.0 6.2 31.3 94.9 0.058----------------------------------------------------------------------------COPE10 AR-02 78.4 36.2 9.3 8.2 74.2 0.094----------------------------------------------------------------------------COPE10 AR-03 greater greater than than 1,000 531.2 68.5 113.0 1,000 0.966----------------------------------------------------------------------------COPE10 AR-04 greater than 187.3 80.3 43.9 39.1 1,000 2.587----------------------------------------------------------------------------COPE10 AR-05 greater than 79.7 45.1 57.6 18.6 1,000 1.396----------------------------------------------------------------------------COPE10 AR-09 51.8 36.2 3.5 32.3 641.9 0.771----------------------------------------------------------------------------COPE10 AR-10 66.0 33.5 10.3 11.7 43.9 0.037----------------------------------------------------------------------------COPE10 AR-11 170.1 128.8 1.9 101.1 84.2 0.287----------------------------------------------------------------------------COPE10 AR-12 729.7 190.4 47.7 66.1 250.7 0.287----------------------------------------------------------------------------COPE10 AR-14 20.1 11.3 8.8 4.1 18.2 0.055----------------------------------------------------------------------------COPE10 AR-15 47.4 39.4 2.6 19.5 23.8 0.117----------------------------------------------------------------------------COPE10 AR-19 742.5 183.1 81.8 78.7 259.4 1.466----------------------------------------------------------------------------COPE10 AR-20 greater greater greater than than than 1,000 1,000 1,000 623.8 527.4 2.928----------------------------------------------------------------------------COPE10 AR-22 greater greater greater than than than 1,000 1,000 1,000 414.8 31.4 0.277----------------------------------------------------------------------------COPE10 AR-23 greater than 1,000 176.3 211.4 103.8 73.5 0.361----------------------------------------------------------------------------COPE10 AR-24 164.1 37.4 28.7 23.2 22.1 0.171----------------------------------------------------------------------------COPE10 AR-25 722.3 99.9 43.9 106.9 147.1 0.566----------------------------------------------------------------------------COPE10 AR-26 greater than 1,000 166.8 259.0 152.4 35.3 0.254----------------------------------------------------------------------------COPE10 AR-27 15.0 7.5 3.0 3.4 32.1 0.227----------------------------------------------------------------------------COPE10 AR-28 129.7 15.8 28.4 25.3 89.6 0.486----------------------------------------------------------------------------COPE10 AR-29 170.1 78.4 14.8 55.6 38.7 0.043----------------------------------------------------------------------------COPE10 AR-30 99.4 70.0 251.4 38.5 126.8 0.060----------------------------------------------------------------------------COPE10 AR-33 169.9 100.1 15.2 96.0 138.5 0.377----------------------------------------------------------------------------
Note- Uranium values range from 0.7-73.9 ppm, and average less than 20 ppm
A new zone of rare earth, yttrium, niobium and titanium has been outlined from August, 2010 rock chip and soil sampling. Elevated rare earth values occur notably on Marble Breccia Ridge, a distinct 5-50 m wide band of marble (breccia texture near contacts), and gossan (rusty coloured iron oxides) caused by pyrite-pyrrhotite. Marble Breccia Ridge contains zones of disseminated magnetite resulting in a strong (greater than 2,000 nT), positive total field magnetometer survey anomaly zone. Geochemical analysis (certificate number 2102718A), of rare earth elements indicates Marble Breccia Ridge (rock chip samples COPE10AR-22-30) contains significant rare earths, yttrium, niobium and titanium. This newly discovered mineral zone appears to continue east-southeast under the glacier and the East Glacier Zone (rock chip samples COPE10AR-19 & 20 located 400 m ESE of Marble Breccia Ridge), is an area that also contains significant rare earths, yttrium, niobium, titanium and copper.Significant rare earth (cerium, lanthanum, neodymium 3 of 15 rare earth elements), thorium, yttrium, niobium and titanium values (certificate number 2102718A), from Aug, 2010 soil samples are summarized in the following table:
----------------------------------------------------------------------------Northing Easting Zone Name Ce ppm La ppm ----------------------------------------------------------------------------5665500 greater 397000 Marble Bx R than 1,000 756.1 ----------------------------------------------------------------------------5665500 397025 Marble Bx R 785.1 442.2 ----------------------------------------------------------------------------5665500 397975 J-5 6,300' 802.6 475.4 ----------------------------------------------------------------------------5665500 397275 Marble Bx R 644.9 409.3 ----------------------------------------------------------------------------5665550 397300 Marble Bx R 661.3 430.5 ----------------------------------------------------------------------------5665550 397125 Marble Bx R 636.3 346.9 ----------------------------------------------------------------------------5665550 397250 Marble Bx R 733.8 463.5 ----------------------------------------------------------------------------5665550 397275 Marble Bx R 881.5 441.2 ----------------------------------------------------------------------------5665550 397925 J-5 6,300' 535.3 256.7 ----------------------------------------------------------------------------5665550 397975 J-5 6,300' 652.7 385.9 ----------------------------------------------------------------------------5665050 greater 398100 East Glacier than 1,000 643.2 ----------------------------------------------------------------------------5665100 greater 398100 East Glacier than 1,000 813.7 ----------------------------------------------------------------------------5665300 397650 Marble Bx R 624.6 335.2 ----------------------------------------------------------------------------5665300 397675 Marble Bx R 806.4 522.8 ----------------------------------------------------------------------------5665400 397650 Marble Bx R 784.8 553.8 ----------------------------------------------------------------------------5665400 greater 397675 Marble Bx R than 1,000 747.0 ----------------------------------------------------------------------------5665400 397725 Glacier E Ext 589.2 372.5 ----------------------------------------------------------------------------5665400 397750 Glacier E Ext 756.7 421.4 ----------------------------------------------------------------------------5665400 397775 Glacier E Ext 786.2 436.8 ----------------------------------------------------------------------------5665400 greater 397775 Glacier E Ext than 1,000 658.9 ----------------------------------------------------------------------------5665450 397800 Glacier E Ext 646.0 399.5 ----------------------------------------------------------------------------5665450 397875 Glacier E Ext 764.1 445.5 ----------------------------------------------------------------------------5665450 397900 Glacier E Ext 994.0 535.9 ----------------------------------------------------------------------------5665000 greater 398050 East Glacier than 1,000 776.5 ----------------------------------------------------------------------------5665000 greater 398075 East Glacier than 1,000 875.8 ----------------------------------------------------------------------------5665000 greater 398100 East Glacier than 1,000 841.0 ----------------------------------------------------------------------------5665000 greater greater 398125 East Glacier than 1,000 than 1,000 ----------------------------------------------------------------------------5665000 greater 398150 East Glacier than 1,000 723.3 --------------------------------------------------------------------------------------------------------------------------------------------------------Northing Nd ppm Th ppm Y ppm Nb ppm Ti %----------------------------------------------------------------------------5665500 264.1 87.0 126.1 460.3 0.509----------------------------------------------------------------------------5665500 220.9 43.2 140.9 523.7 0.611----------------------------------------------------------------------------5665500 190.1 86.8 115.0 530.2 0.918----------------------------------------------------------------------------5665500 183.3 58.2 139.1 242.0 1.051----------------------------------------------------------------------------5665550 173.0 88.3 120.7 288.4 1.057----------------------------------------------------------------------------5665550 164.8 57.9 95.4 595.9 1.055----------------------------------------------------------------------------5665550 195.1 114.9 127.9 338.1 1.922----------------------------------------------------------------------------5665550 213.8 71.0 161.5 232.1 1.559----------------------------------------------------------------------------5665550 146.4 48.5 95.1 297.5 1.003----------------------------------------------------------------------------5665550 149.3 68.8 88.8 468.1 1.041----------------------------------------------------------------------------5665050 237.8 102.9 143.2 454.7 2.101----------------------------------------------------------------------------5665100 241.9 113.7 139.9 558.1 1.674----------------------------------------------------------------------------5665300 210.2 53.7 88.4 146.7 1.868----------------------------------------------------------------------------5665300 160.6 104.5 88.8 554.5 0.570----------------------------------------------------------------------------5665400 153.3 115.2 100.9 277.8 0.454----------------------------------------------------------------------------5665400 225.8 184.6 143.6 292.1 1.333----------------------------------------------------------------------------5665400 153.8 82.0 86.7 234.5 1.126----------------------------------------------------------------------------5665400 231.1 71.2 158.0 245.2 1.884----------------------------------------------------------------------------5665400 240.8 93.1 151.8 199.1 2.433----------------------------------------------------------------------------5665400 275.4 88.3 173.6 561.4 1.033----------------------------------------------------------------------------5665450 183.6 67.1 115.3 235.4 1.479----------------------------------------------------------------------------5665450 191.3 97.7 131.3 465.3 0.917----------------------------------------------------------------------------5665450 228.2 74.1 152.0 610.5 1.017----------------------------------------------------------------------------5665000 258.2 187.6 156.0 438.0 1.446----------------------------------------------------------------------------5665000 229.8 189.0 148.5 432.8 0.986----------------------------------------------------------------------------5665000 263.3 129.4 146.2 469.3 0.977----------------------------------------------------------------------------5665000 476.2 163.8 193.4 435.2 1.023----------------------------------------------------------------------------5665000 303.4 96.9 181.4 254.6 3.082----------------------------------------------------------------------------
Note- Uranium values range from 7.9-67.3 ppm, and average less than 25 ppm
The East Glacier and Marble Breccia Ridge zones do not have Mo & Cu values associated with REE minerals, but the Glacier East Extension and J-5 6,300' zones that are elevated in Mo & Cu values are spatially related to above average REE, yttrium, niobium & titanium geochemical analysis values.
Management is focusing on future exploration of rare earth elements, yttrium, niobium and titanium on Mt Copeland mineral tenures, and will be reporting further analysis of the samples which are presently above measurable limits as they are released from ALS Chemex Labs. Additional follow-up work planned will include detailed geological mapping, geochemical sampling, magnetometer geophysical surveys, and core drilling. Fieldwork and data compilation on the Mt Copeland mineral tenures was carried out by Andris Kikauka, P.Geo., a Qualified Person for the purposes of NI 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. Or toll free (800) 540-1995
Source: Marketwire Canada (September 28, 2010 - 8:30 AM EDT)
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B2 Digital, Inc. Receives Financing Commitment
Sep. 28, 2010 (GlobeNewswire) --
MESA, Ariz., Sept. 28, 2010 (GLOBE NEWSWIRE) -- B2 Digital, Inc. (Pink Sheets:BTDG) has received a proposal for financing from Sino-Can Holdings Ltd. Sino-Can Holdings Ltd. will make available to B2 Digital, Inc. a minimum of CDN $100,000 and up to CDN $250,000 for additional testing on the properties owned by Firma Gold in Quebec. Sino-Can Holdings Ltd. plans to review the test results and the existing NI 43-101 feasibility study to complete their due diligence.
B2 Digital, Inc. and Sino-Can Holdings Ltd. have agreed to structure the terms of the financing so that, upon completing the acquisition of control of B2 Digital, Inc., the funds advanced will be converted to capital at $0.10 per share. If, in the event that Sino-Can Holdings Ltd. does not complete the acquisition then all monies advanced to B2 Digital, Inc. for the testing will be forfeited with no conversion rights to equity being provided to Sino-Can Holdings Ltd.
B2 Digital, Inc. President, Paul LaBarre, stated, "We are pleased with this initial stage of discussions with Sino-Can Holdings Ltd. regarding their desire to acquire control of B2 Digital, Inc. We believe this offer to finance additional testing expresses their sincerity in making every effort to complete a transaction while providing a tremendous opportunity for our shareholders."
B2 Digital, Inc. recently entered into a joint venture agreement with Firma Gold. Firma Gold's estimated reserves of 1.5 million ounces could have an estimated worth of $1.875 billion based upon the current price of gold. B2 Digital, Inc. will receive 90% of the net profit after deduction of capital or operating costs incurred in their role as JV partner. Firma Gold will receive 10 percent of the net profit under terms of the Joint Venture Agreement.
About B2 Digital, Inc.
B2 Digital is dedicated to seeking acquisitions and joint ventures within the resource sector and in particular mining properties that contain gold and silver reserves. Management of its subsidiary has many years of experience in the exploration and operations of mining assets. B2 Digital is currently in the process of divesting itself of some of its technology assets. More information on B2 Digital can be found at:
http://www.b2digital.us.
This press release contains statements (such as projections regarding future performance) that are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected as a result of certain risk and uncertainties, including but not limited to those detailed from time to time in the Company's filings with Pink Sheets.com. Mining projects are subject to numerous risk factors including changing regulations, volatile commodity prices, and other factors that may preclude production should commercially viable reserves be established on a property and exploration plans dependent on funding and approval of any required permits.
CONTACT: Atlanta Capital Partners, LLC
For B2 Digital
David Kugelman
866-692-6847
Source: Globe Newswire (September 28, 2010 - 8:30 AM EDT)
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Green Equity Holdings Retires 1,975,000 of Free Trading Shares
Sep. 28, 2010 (Marketwire) --
DEERFIELD BEACH, FL -- (Marketwire) -- 09/28/10 -- Green Equity Holdings, Inc. (OTCQB: CXTO) (PINKSHEETS: CXTO) ("GEH") (www.GreenEquityHoldings.com), a holding company focused on investing in novel technologies primarily in the clean energy sector, announced today that it has retired 1,975,000 of free trading common shares back into the treasury in an effort to increase shareholder value.
"Since our merger with CX2 Technologies in June, we have focused on creating a solid foundation to attract new investors and reward our existing shareholders. As a result of retiring these shares, we have strengthened our balance sheet. Combined with our current reporting status and listing on the OTCQB, we are creating a favorable capital structure to successfully implement our investment strategy," said Raymond Dias, Founder, President and Chief Executive Officer of GEH.
About Green Equity Holdings, Inc.
Green Equity Holdings Inc. ("GEH") discovers, invests and/or acquires development-stage, high-growth businesses with novel solutions, clean technologies and eco-friendly products that serve the global alternative energy sector. Incorporated in 2002 in the State of Nevada, GEH is majority owned by Fusion Capital Investments Corporation. For more information, please visit www.GreenEquityHoldings.com.
Certain statements contained herein constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on current expectations, estimates and projections about the Company's industry, management's beliefs and certain assumptions made by management. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict. Because such statements involve risks and uncertainties, the actual results and performance of the Company may differ materially from the results expressed or implied by such forward-looking statements. Given these uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Unless otherwise required by law, the Company also disclaims any obligation to update its view of any such risks or uncertainties or to announce publicly the result of any revisions to the forward-looking statements made here; however, readers should review carefully reports or documents the Company files periodically with the Securities and Exchange Commission.
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Contact:
Green Equity Holdings, Inc.
Raymond Dias
President
Email Contact
Tel: 954-573-1709
Source: Marketwire (September 28, 2010 - 8:30 AM EDT)
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City of Courtenay, BC Selects Proxim Wireless to Reduce Cost, Increase Flexibility of Backhaul
Proxim's Point-to-Point Wireless Backhaul Solutions Provide Wire-Like Performance With Faster ROI Than Fiber
Sep. 28, 2010 (Marketwire) --
SILICON VALLEY, CA -- (Marketwire) -- 09/28/10 -- Proxim Wireless Corporation (OTCQX: PRXM) (PINKSHEETS: PRXM), a leading provider of complete indoor and outdoor wireless broadband systems, today announced that the City of Courtenay, BC -- working with MDT Technical Services, a leading wireless system integrator -- has deployed Proxim's wireless backhaul solutions to connect buildings throughout the city. The City of Courtenay selected Proxim's Tsunami® QB-8150 and Proxim's 60 GHz wireless backhaul solutions to connect two recreational facilities back to the City Hall, for a cost-effective way to share bandwidth between the buildings while the city's fiber network was being built out.
"We had an immediate need to provide broadband connectivity to these facilities, but the fiber network is still being built out and was not available to these buildings. We needed something that could provide the same performance as fiber, but with far more flexibility, the ability to deploy quickly, and with greater cost-effectiveness," said Yves Bernard, Information Systems Manager for the City of Courtenay. "MDT introduced us to the Proxim solutions, and we could not be more thrilled. We were able to provide economical, wire-like performance to these buildings in no time. It was a cake walk."
The City is using Proxim's 60 GHz backhaul products to provide Gigabit wireless performance to each of the recreational facilities while the fiber network is being built out. Once the fiber network is complete, the 60 GHz products will be redeployed to fill gaps in the City's fiber strategy -- particularly where there are physical limitations, such as rivers and railroads. The City is also utilizing Proxim's Tsunami QB-8150 wireless backhaul as a replacement for an existing Cisco Aironet® link, which was experiencing intermittent connectivity issues due to tree growth. In both cases, the City had evaluated Proxim and Cisco solutions, and selected Proxim for its combination of performance and value.
Proxim's wireless backhaul solutions not only provided greater ease-of-deployment and flexibility for future network growth, but also significantly faster return on investment (ROI) than third party fiber. The City estimates that the ROI on Proxim's 60 GHz products will be less than 18 months, while the ROI on Proxim's Tsunami QB-8150 is less than one month.
"Proxim's wireless backhaul solutions are a natural fit for any scenario where an organization is in need of fiber-like performance, while offering budget, physical deployment, time to deployment, and flexibility advantages over wired solutions," said Doug Petersen, Owner of MDT. "We have a great deal of experience with Proxim's solutions, and the performance, ease of use and value are unparalleled in the industry. And with the breadth and depth of Proxim's complete indoor and outdoor portfolio, they have the unique ability to provide different solutions for any customer need, at a variety of price points, while still exceeding customer expectations."
About MDT Technical Services
MDT Technical Services is a proven leader for wireless communication system implementations. The team is highly skilled with many years of experience and expertise in servicing a wide range of wireless data and voice equipment. MDT provides comprehensive wireless networking solutions.
MDT provides a complete portfolio of products and services that enable best of breed wireless communication systems. The portfolio includes a total solution beginning with a needs assessment, wireless network design, implementation, testing and ongoing maintenance services. MDT provides broadband solutions for Wi-Fi, Point-to-Point, Point-to-Multipoint, Mesh and Wide Area Networks. Dedicated staff have a long history of providing quality workmanship and services.
MDT Technical Services is designated a Proxim Wireless Platinum Partner. For more information, please visit http://www.mdttech.com.
About Proxim Wireless
Proxim Wireless Corporation (OTCQX: PRXM) provides Wi-Fi®, WiMAX, Point-to-Multipoint and Point-to-Point Backhaul technologies for a complete indoor and outdoor wireless broadband ecosystem. Our systems enable service providers, governments and enterprises to deploy fixed and mobile security and video surveillance, indoor and outdoor Wi-Fi, business and residential internet access and cell tower backhaul. Proxim has shipped more than 2 million wireless devices to more than 250,000 customers in over 65 countries worldwide. Proxim is ISO 9001-2008 certified. For more information, visit www.proxim.com. For investor relations information, e-mail ir@proxim.com or call +1 413-584-1425.
Safe Harbor Statement
Statements in this press release that are not statements of historical facts are forward-looking statements that involve risks, uncertainties, and assumptions. Our actual results may differ materially from the results anticipated in these forward-looking statements. The forward-looking statements involve risks and uncertainties that could contribute to such differences including difficulties in overcoming the network installation and operational challenges relating to any specific customer or geographical area; factors beyond our control such as weather, geographic, governmental, and interference issues; specific requirements of a given customer in their specific situations; and difficulties or delays in supplying products with the features, performance, compliances, certifications, cost, price, and other characteristics desired by customers. Further information on these and other factors that could affect Proxim's actual results is and will be contained in the filings made by Proxim with the OTCQX (available at www.otcqx.com), including without limitation in the Annual Report filed by Proxim on March 30, 2010, and in its other public statements, which may be available on Proxim's website (www.proxim.com).
Tsunami is a registered trademark of Proxim Wireless Corporation. Other words or phrases may be registered trademarks of other companies.
Contact Information:
Robb Henshaw
Sr. Director, Global Marketing & Communications
Proxim Wireless
Email: rhenshaw@proxim.com
Phone: 408-383-7699
Milpitas, CA, USA
Source: Marketwire (September 28, 2010 - 8:30 AM EDT)
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Natcore Unveils First Commercial Application: New Subsidiary, NanoShade Solar, to Market Solar Energy Collectors in 1Q11
VANCOUVER, BRITISH COLUMBIA, Sep. 28, 2010 (Marketwire) -- Natcore Technology Inc. (TSX VENTURE:NXT)(PINK SHEETS:NTCXF) today introduced NanoShades, solar energy collectors that can be mounted on vertical surfaces of new and existing buildings.
Each NanoShade(TM) comprises a set of angled slats or flat strips fixed at regular intervals in an aluminum frame. The 6"-wide slats are aluminum extrusions to which solar cells are affixed. The slats are positioned at the optimum angle to maximize solar exposure at the building's latitude. The silicon-based solar cells can be fashioned in a variety of shapes and sizes.
Initially these systems will employ conventional solar cell technology. They will incorporate advanced solar cells made possible by Natcore's proprietary Liquid Phase Deposition technology when they become available.
NanoShades showcase the Company's ability to integrate solar panels onto a variety of shapes and architectural surfaces. Although they can be sized to fit any configuration, a typical NanoShade unit will be about eight feet high and five feet wide. Current designs call for nine slats within each frame.
A proof-of-concept system has been tested at Rice University in Houston, Texas, where it has been collecting data since April 2010 under the supervision of Prof. Andrew R. Barron and Dr. Dennis Flood, two of Natcore's founders. Preliminary engineering and design work for a commercial system has been accomplished, and vendors have been sourced. Two patent applications relating to these systems have been filed, and NanoShade is now constructing a prototype system for independent testing and bonding requirements in preparation for initial production.
To examine efficiencies at a more northern latitude, NanoShade will conduct research at the University of New Haven (UNH) in West Haven, CT, during the current academic year. Researchers there will also examine reliability, weatherability and endurance of the units. Ali Montazer, professor and Associate Dean of Engineering at UNH, will oversee the testing.
NanoShade expects that its devices will help builders qualify for LEED (Leadership in Energy & Environmental Design) certification. Developed by the U.S. Green Building Council (USGBC), LEED is intended to provide building owners and operators a concise framework for identifying and implementing practical and measurable green building design, construction, operations and maintenance solutions.
To produce NanoShades, Natcore has formed NanoShade Solar, a wholly owned subsidiary incorporated in Delaware and headquartered in Red Bank, NJ. "We decided to create a new company to market NanoShades because we don't want to distract from Natcore's primary business-the development of super-efficient solar cells with twice the output of conventional ones," says Chuck Provini, Natcore's president and CEO. Provini will initially hold the same jobs with the new subsidiary, but design, production and marketing functions are being overseen by consultants with experience in architecture and construction.
NanoShade has already been asked to bid on new projects. Says Provini, "To show just how 'green' we are, we're actually using recycled solar cells for some of our initial units. We've been approached by various companies to do this, since they want to be at the front of the line when our super-efficient solar cell technology is developed."
NanoShade Solar expects to start accepting orders and shipping NanoShades in the first quarter of 2011.
About Natcore Technology Inc.
Natcore Technology is the exclusive licensee, from Rice University, of a thin-film growth technology enabling room-temperature growth of various silicon oxides on silicon wafers in a liquid phase deposition (LPD) process. Although the implications of this discovery for semiconductors and fiber optics are significant and wide-ranging, the technology has immediate and compelling applications in the solar sector. Specifically, Natcore's LPD process could enable silicon solar cell manufacturers to significantly reduce manufacturing costs and increase throughput, and has the potential to allow, for the first time, mass manufacturing of super-efficient (30%+) tandem solar cells with double the power output of today's most efficient devices. Having been independently tested and verified by one of the world's most respected science and technology laboratories, Natcore's technology is now in the process of being commercialized.
Statements in this press release other than purely historical factual information, including statements relating to revenues or profits, or Natcore's future plans and objectives, or expected sales, cash flows, and capital expenditures constitute forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in the Company's business, including risks inherent in the technology history. There can be no assurance that such forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on such statements. Except in accordance with applicable securities laws, the Company expressly disclaims any obligation to update any forward-looking statements or forward-looking statements that are incorporated by reference herein.
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.
Natcore Technology Inc. 732-576-8800 info@natcoresolar.com www.natcoresolar.com
Source: Marketwire Canada (September 28, 2010 - 8:02 AM EDT)
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SearchPath HCS Announces Significant Growth in Revenue, Income and Gross Profits for Fiscal 2010
Management Attributes Successful Year Primarily to Significant Expense Reduction and Its Strategy to Optimize the Performance of Existing Franchisees
Sep. 28, 2010 (GlobeNewswire) --
CLEVELAND, Ohio, Sept. 28, 2010 (GLOBE NEWSWIRE) -- SearchPath HCS Inc. (Pink Sheets:SRCP), a leading Human Capital Solutions provider, today announces the release of its 2010 fiscal year end financials in which the Company reported a 24% year-over-year (YoY) increase in Total Revenue while reducing Operating Expenses by 36% YoY. SearchPath's Total Revenue for Fiscal 2010 is $888,583 and primarily consists of Franchise Fees and Royalty & Advertising Revenue from the Company's wholly-owned subsidiary, SearchPath International as well as income from Corporate Placements.
For the period beginning July 1, 2009, through June 30, 2010, SearchPath HCS reported $434,475 in gross revenue generated by Franchise Fees, which represents an increase of 33% YoY, Royalty & Advertising Revenue of $314,355 which represents a 22% increase YoY, and revenue generated by the Company Office of $152,960 which represents a 23% increase YoY and consists almost entirely of income generated by Corporate Placements in this office. SearchPath reduced its Operating Expenses by 36% YoY to $762,465 in 2010 from $1,200,362 in 2009. While the Company did report a Net Loss of $66,019 for Fiscal 2010, this marks a 92% increase in Net Income over 2009 when the Company reported a Net Loss of $748,843. A major cause of this increase is SearchPath's Ordinary Income which is $228,964, for Fiscal 2010, compared to a loss of $421,152 for Ordinary Income in 2009, showing a tremendous increase of $650,116 YoY.
Results of Operations
June 30, 2010 June 30, 2009
Franchise Fees (Net) $421,238 $325,838
Royalty Revenue 279,975 228,792
Advertising Revenue 34,380 28,464
Corporate Placements 147,550 119,298
Other Revenue 5,410 11,203
Total Revenue $888,583 $713,595
Management attributes SearchPath's ability to significantly increase revenues and gross profits during very unfavorable economic conditions to its unique business model which enables the Company to leverage several revenue streams within its umbrella of human capital solutions and services. Specifically, SearchPath HCS's strategy which was to focus on improving the performance of its existing SPI franchises over trying to acquire new franchisee in poor economic conditions and tight credit environment, led to a significant increase in royalty & advertising royalty fees collected from its existing franchises.
Commenting on the Company's Year-End Financials, Chief Executive Officer of SearchPath HCS, Inc., Thomas K. Johnston, stated, "We are very pleased to report that during fiscal 2010, the Company experienced significant increases in revenue, income and profit despite a depressed U.S. economy and labor market. Our decision to maximize the efficiency and profitability initiative of our existing operations is paying huge dividends because not only did it fuel our growth during a slowdown in franchise expansion, but it also provided a sustainable catalyst for our next phase of expansion. Now our existing franchisees are in a much more favorable position to experience rapid and sustainable growth in their individual offices because of their highly effective training and valuable experience in a down market."
Management anticipates continued revenue growth through 2011 and beyond as SearchPath HCS increases and diversifies its human capital solutions services and Search Path International continues to leverage the talent and experience of its franchisees as well as its franchise business model itself. Additionally, SearchPath will benefit from projected industry growth and increasing margins.
A recent IBIS Industry Outlook Report forecasts that revenue generated by the Employment and Recruiting industry will experience annualized growth of 6.5% over the next five years bringing the market to $17 billion in 2015. Furthermore, the report cites profit margins are projected to improve by 3.2% during this period, particularly for organizations that have reduced costs during the past recession, which SearchPath has done in 2010.
Johnston added, "Our financial performance in 2010 marks a dramatic turnaround from the previous fiscal year which saw the only decrease in Revenue and Gross Profit since SearchPath was established in 2005. We consider this an anomaly and attribute it to the difficult economic environment that produced the worst job market in recent history. With the human capital industry at the beginning of a long period of projected growth and our current success and experience as a leading human capital solutions provider, we expect to return to the type of aggressive annual growth we saw in 2006 when we nearly doubled our total revenue and more than doubled our gross profit."
Fiscal Year 2006 2007 2008 2009 2010
Franchise Fee Income 354,727 611,196 666,801 325,838 421,238
Royalty & Advertising 33,436 179,541 267,828 257,256 314,354
Placements/Research 212,060 292,569 400,485 123,123 152,950
Other 0 17,790 1,371 7,378 41
TOTAL INCOME $600,223 $1,101,096 $1,336,485 $713,595 $888,584
COGS 219,613 224,101 342,628 154,386 137,154
GROSS PROFIT $380,609 $876,995 $993,857 $559,209 $751,429
Expenses 603,267 869,673 980,450 980,362 522,465
ORDINARY INCOME ($222,658) $7,321 $13,407 ($421,153) $228,964
"We believe that a SearchPath International franchise is an extremely attractive business opportunity, particularly for those in the baby boomer generation, because it offers a business model that allows franchisors to leverage their business experience, contacts and relationships while providing an extremely independent and flexible lifestyle. This is truly a very pivotal and exciting time for SearchPath and we are excited to implement new and innovative business initiatives that we believe will drive future growth while also focusing on creating, maintaining and increasing shareholder value," continued Johnston.
Search Path HCS, Inc.'s Financial Statements can be found at Pink Sheets SRCP under Filings.
About Search Path HCS, Inc.
SearchPath HCS, Inc. is a rapidly growing human capital solutions firm and the parent company of SearchPath International, Inc. (SPI) www.searchpath.com. SPI is a U.S.-based talent acquisition professional services firm, with 65 franchises nationwide. Founded in 2005, SPI's goal is to become the premier, vertically-integrated provider of talent acquisition professional services in the world. In addition to being a stand-alone talent and acquisition services firm, SPI is also a franchisor of its business that has redefined the way clients do business with recruiters by implementing a client-centric approach that combines proven industry best practices and revolutionary concepts.
Safe Harbor Statement
This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of1934. All statements, other than statements of historical fact, including, without limitation, those with respect to the objectives, plans and strategies of the Company and SPI set forth herein and those preceded by or that include the words ``believes,'' ``expects,'' ``given,'' ``targets,'' ``intends,'' ``anticipates,'' ``plans,'' ``projects,'' ``forecasts'' or similar expressions, are "forward-looking statements". Although the Company's management believes that such forward-looking statements are reasonable, it cannot guarantee that such expectations are, or will be, correct. These forward-looking statements involve a number of risks and uncertainties, which could cause the Company's future results to differ materially from those anticipated. The Company assumes no obligation to update any of the information contained or referenced in this press release.
SEARCHPATH INTERNATIONAL, INC.
STATEMENT OF OPERATIONS
TWELVE MONTHS ENDING JUNE 30, 2010 AND 2009
2010 2009
REVENUES - NET
Franchise fees $ 434,475 $ 325,838
Other 454,109 387,758
888,584 713,595
COST OF SALES 137,154 154,386
GROSS PROFIT 751,429 559,209
OPERATING EXPENSES 762,465 1,200,362
GAIN (LOSS) FROM OPERATIONS (11,036) (641,153)
OTHER INCOME (EXPENSE)
Interest expense (63,087) (111,582)
Interest income 8,104 3,891
(54,983) (107,690)
NET INCOME (LOSS) BEFORE INCOME TAXES (66,019) (748,843)
BENEFIT FROM (PROVISION FOR) DEFERRED INCOME TAXES -- --
NET INCOME (LOSS) (66,019) (748,843)
CONTACT: Seal Point Consulting, LLC
Investor Contact
267-364-5407
PressReleases@sealpointconsulting.com
Source: Globe Newswire (September 28, 2010 - 8:01 AM EDT)
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TVI Pacific Announces Completion of Seventeenth Shipment of Copper Concentrates Produced at Canatuan
Sep. 28, 2010 (Marketwire) --
CALGARY, ALBERTA -- (Marketwire) -- 09/28/10 -- TVI Pacific Inc. (TSX: TVI)(OTCQX: TVIPF) ("TVI" or "the Company") announced today that its Philippine operating affiliate, TVI Resource Development (Phils.), Inc. ("TVIRD"), completed its seventeenth shipment of copper concentrates produced at the Canatuan Mine on September 24, 2010.
-- Gross revenue expected from seventeenth shipment US$8.2 million
-- Gross revenue year to date US$59.0 million
-- Copper concentrates shipped year to date 36,575 dmt
Copper production remains steady at Canatuan and concentrate grade levels have been kept around 20 percent. Current production plans call for maintaining production at these concentrate grade levels in preparation for the next shipment scheduled in approximately six weeks.
The concentrates were shipped from the TVIRD warehouse facility at Santa Maria Port in Siocon, Zamboanga del Norte, in accordance with the offtake arrangement previously entered into between TVIRD and MRI Trading AG ("MRI"). TVIRD expects to earn gross revenues of US$8.2 million from MRI for 5,290 dry metric tonnes ("dmt") of copper concentrates.
The offtake agreement provides that MRI will purchase all of the copper concentrates produced at Canatuan over the anticipated life of the sulphide operation. After the seventeenth shipment, inventory of about 16.3 dmt remained in the Port Sta. Maria warehouse.
About TVI Pacific Inc. (TSX: TVI)(OTCQX: TVIPF)
TVI Pacific Inc. is a publically traded copper producer focused on the production, development, exploration and acquisition of precious and base metal mining deposits in the Philippines. The Company's interest in the Canatuan Mine and its other Philippine assets are held through its affiliate, TVI Resource Development (Phils.), Inc.
IMPORTANT INFORMATION REGARDING FORWARD-LOOKING STATEMENTS
Certain information set out in this news release constitutes forward-looking information. Forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "estimate", "expect", "may", "will", "intend", "could", "might", "should", "believe", "schedule" and similar expressions. Forward-looking statements are based upon the opinions and expectations of management of the Company as at the effective date of such statements and, in certain cases, information received from or disseminated by third parties. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions and that information received from or disseminated by third parties is reliable, it can give no assurance that those expectations will prove to have been correct. Forward-looking statements are subject to certain risks and uncertainties (known and unknown) that could cause actual outcomes to differ materially from those anticipated or implied by such forward-looking statements. These factors include, but are not limited to, such things as the volatility of prices for precious metals and base metals; commodity supply and demand; fluctuations in currency and interest rates; inherent risks associated with the exploration and development of mining properties; ultimate recoverability of mineral reserves; timing, results and costs of exploration and development activities; availability of financial resources or third-party financing; new laws (domestic or foreign); changes in administrative practices; changes in exploration plans or budgets; and availability of equipment and personnel. Accordingly, readers should not place undue reliance upon the forward-looking statements contained in this news release and such forward-looking statements should not be interpreted or regarded as guarantees of future outcomes.
The forward-looking statements of the Company contained in this news release are expressly qualified, in their entirety, by this cautionary statement. Subject to applicable securities laws, the Company does not undertake any obligation to publicly revise the forward-looking statements included in this news release to reflect subsequent events or circumstances, except as required by law.
The Toronto Stock Exchange has neither approved nor disapproved of the information contained herein.
Contacts:
TVI Pacific Inc.
Rhonda Bennetto
Executive Director Investor Communications
403.265.4356
rhonda.bennetto@tvipacific.com
TVI Pacific Inc.
Ian McColl
Investor Relations Analyst
403.265.4356
ian.mccoll@tvipacific.com
TVI Pacific Inc.
Connect With Us www.tvipacific.com
Follow us on Twitter www.twitter.com/tvipacific
Be a Fan at www.facebook.com/tvipacific
Source: Marketwire (September 28, 2010 - 7:51 AM EDT)
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Riverside Develops High Grade Silver Targets at Recently Staked Clemente Silver-Gold Project in Sonora, Mexico
VANCOUVER, BRITISH COLUMBIA, Sep. 28, 2010 (Marketwire) -- Riverside Resources Inc. ("Riverside" or the "Company") (TSX VENTURE:RRI)(PINK SHEETS:RVSDF)(FRANKFURT:R99) is pleased to announce that it has completed an initial field work program on its newly staked, 100% Riverside-owned Clemente Silver-Gold Project in NW Sonora, Mexico and discovered high grade silver exceeding 2 kg/t (60 oz/t) in outcrops. Portions of the old workings and neighbouring outcrops were chip sampled early in the summer season. The program consisted of 152 rock chip samples and returned assay values from less than 5 g/t up to 2,900 g/t silver and gold values from 5 ppb up to 5.4 g/t. Multiple samples returned values over 500 g/t silver, which is uncommon for this region of Mexico and indicates a potentially highly significant target. The drill ready exploration targets on the 142 km2 area property are shown on the maps provided in this release and on the Riverside website.
Riverside's exploration team acquired the project in the Megashear Gold Belt of Sonora, Mexico through its Prospect Generation Program using its mineral property databases and proprietary targeting approaches. The Mojave-Sonora Megashear, on which Clemente is located, is one of North America's major gold producing belts. The belt is relatively underexplored and has been a strong focus for Riverside's technical team, having worked over the past two years to build a strong land position, including the Tajitos-Tejo and other properties. The Clemente Project is a mere seven (7) kilometers northwest of the Cerro Colorado mine operated by Goldgroup Mining Inc and is within 100 kilometers of four other active gold-silver mines. The Project has exceptional infrastructure with power, water and road access making the targets easily accessible and relatively inexpensive for future drill testing and potential mining.
"With Clemente, we continue to expand our property portfolio, acquiring high potential assets that build shareholder value. Following our prospect generator business model, we look forward to partnering the Clemente Project and hope to have drilling begin quickly in hopes of exposing shareholders to discovery," stated John-Mark Staude, President and CEO of Riverside Resources Inc. Staude added "finding multi-gram gold and multi-kilogram silver from outcropping targets is something we dream of and we are pleased to own this project for Riverside."
Project Details:
The Project is dominated by strong hydrothermal alteration, breccias and veining in a basement rock sequence of Precambrian / Cambrian meta-sediments and Precambrian granites that have been multiply sheared with abundant stockwork quartz veining, similar to other areas of the Mojave-Sonora Megashear. Mineralization hosting sediments are primarily dolomites and arenites that have varying extents of alteration suggesting different depths of possible emplacement of mineralization. The Precambrian granites are composed of a 1.8 Ga and a 1.1 Ga suite, reflected in textural variations. These wall rocks act as brittle and locally reactive hosts to epithermal and mesothermal hydrothermal metal bearing fluids that deposited abundant silver along with gold and local base metals.
The primary metallic exploration target is adjacent to abandoned mines and along major through-going shears with extensive silver mineralization. The silver values are of particular note because of pure precious metal zones, as well as silver with base metal target zones. Results were drawn from numerous stockwork veins with variable strikes and dips that indicate high potential for stockwork with wider disseminated mineralization along the greater than 10 km long Clemente master shear and mineralized structure. The veins have historic workings only within the upper oxide zones with minor relict sulfides. The veins can now be tested further through geophysics, trenching, and follow up drilling.
The western Sonora districts have high potential to host orogenic, epithermal and replacement styles of mineralization. Clemente shows evidence of all three styles. The new 142 km2 property has three outcropping target areas, each of which has previous mining history and one alluvium-covered silver-gold target. The two main mineralized zones that have been identified at Clemente, known as Nuevo Mundo and Santa Elena, are clearly outlined on the map below. The third high potential target area has a magnetic anomaly under shallow cover just north of the high grade gold and silver outcrops. Clemente has the potential to host a bulk tonnage deposit of silver and gold as well as high grade veins and replacement bodies similar to other mines in the region, and typical of what has made Mexico a world leader in silver production for over four centuries.
To view the Riverside Clemente Property map, please visit the following link: http://media3.marketwire.com/docs/rri_0928_riverside_clemente_property.pdf
The scientific and technical data contained in this news release were prepared under the supervision of Locke Goldsmith, P. Eng., P. Geo., an independent qualified person to Riverside Resources, who is responsible for ensuring that the geologic information provided in this news release is accurate and acts as a "qualified person" under National Instrument 43-101 Standards of Disclosure for Mineral Projects.
QA-QC Procedures: The Company has maintained a quality control program to ensure best practices in sampling and analysis in all its exploration programs. Duplicates, standards and blank samples are randomly inserted into the sample stream. Samples were delivered in secure, sealed bags to the assay labs for analysis. Gold is determined by fire assay with atomic absorption finish. The assay results were produced by Inspectorate Laboratories Ltd.
About Riverside Resources:
Riverside is a well-funded prospect generation exploration team of focused, proactive gold discoverers with the breadth of knowledge to dig much deeper. The Company currently has approximately $3,100,000 in the treasury and fewer than 25,000,000 shares issued. Riverside has an experienced exploration team that leverages its in-house technical knowledge and vast experience in the field to make discoveries. The Company is currently working towards finalizing several important events that fit within the business model of growth through partnerships and exploration. Additional property information, including the recent drill discovery at Libertad (http://www.rivres.com/2010/164-new-discovery-at-riversides-libertad-gold-project-sonora-mexico.html) in Sonora and more on the Company's other projects, can be found on the Riverside Resources Inc. website at www.rivres.com.
ON BEHALF OF RIVERSIDE RESOURCES INC.
Dr. John-Mark Staude, President & CEO
Certain statements in this press release may be considered forward-looking information, which statements can be identified by the use of forward looking terminology (e.g., "expect"," estimates", "intends", "anticipates", "believes", "plans"). Such information involves known and unknown risks -- including the availability of funds, the results of financing and exploration activities, the interpretation of exploration results and other geological data, or unanticipated costs and expenses and other risks identified by Riverside in its public securities filings that may cause actual events to differ materially from current expectations. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
Riverside Resources Inc. President and CEO (778) 327-6671 (778) 327-6675 (FAX) info@rivres.com Riverside Resources Inc. Corporate Communications (778) 327-6671 (778) 327-6675 (FAX) info@rivres.com www.rivres.com
Source: Marketwire Canada (September 28, 2010 - 7:31 AM EDT)
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Dacha Capital Commences Trading as Dacha Strategic Metals
Sep. 28, 2010 (Marketwire) --
TORONTO, ONTARIO -- (Marketwire) -- 09/28/10 -- Dacha Capital Inc. ("Dacha" or the "Company") (TSX VENTURE: DAC)(OTCQX: DCHAF) is pleased to announce that pursuant to a special resolution passed by the shareholders of the Company at its annual and general meeting held on September 13, 2010, the Company has changed its name to "Dacha Strategic Metals Inc." Effective at market open on September 28, 2010, the common shares of the Company will commence trading on the TSX Venture Exchange under the name "Dacha Strategic Metals Inc." with the new trading symbol "DSM".
About Dacha
Dacha is an investment company focused on the purchase, storage and trading of certain strategic metals. Its shares are listed on the TSX Venture Exchange under the symbol "DSM" and on the OTCQX exchange under the symbol "DCHAF"
Except for statements of historical fact relating to the Company, certain information contained herein constitutes "forward-looking information" under Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the implications and timing of the name change and new ticker symbol on the Company and the timing of future publications of same, the timing and receipt of regulatory approval in relation to the name change, the ability to attract financing, proposed investment strategy of the Company, general investment trends, and receipt of all regulatory approvals. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made. Estimates regarding the anticipated impact of the appointment are based on previous professional accomplishments and competencies. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Dacha to be materially different from those expressed or implied by such forward-looking information. Although management of Dacha has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Dacha does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
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 RELEASE.
Contacts:
Dacha Capital Inc.
Scott Moore
President and CEO
(416) 861-5903
smoore@dachacapital.com
www.dachacapital.com
Source: Marketwire (September 28, 2010 - 7:01 AM EDT)
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Black Dragon Closes on the Acquisition of Four New Leases
Sep. 28, 2010 (GlobeNewswire) --
OIL CITY, La., Sept. 28, 2010 (GLOBE NEWSWIRE) -- Black Dragon Resource Companies, Inc. ("the Company," "Dragon") (Pink Sheets:BDGR) is pleased to announce today that the company has acquired 4 new leases. These 4 new leases will add an additional 11 oil wells with 2 salt water wells to Black Dragon's portfolio. The leases sit on eleven hundred acres with no depth restrictions on most of the acreage which will be used for further exploration. The company also has the opportunity to pick up an additional 1,380 acres with no depth restrictions based upon the success of the first four leases.
The newly acquired 11 wells that are already drilled are expected to add 170-200 barrels a month to Black Dragon's total production. Black Dragon intends to begin working this acreage immediately. With the purchase of this lease the company has increased its production goal for December 2010 from 5,000 barrels per month to 10,000 barrels per month. Black Dragon expects to gross $750,000.00 for the month of December or net $600,000.00 before expenses.
According to Thomas Neely, President," Black Dragon has grown its operations substantially since January of 2010. The company was only grossing $40,000 before expenses and expenses were greater than they are currently. For the month of October the company's goal is to pick up oil from 30 plus leases which is up substantially from the 11 leases that we picked up oil from in January 2010. Black Dragon's December revenue is expected to increase nearly 20 fold from the month of January 2010. Black Dragon becomes cash flow positive with the production of 5,000 barrels of oil per month. At 7,000 barrels per month the company can pay for the addition of 25 new wells. As we increase production more leases can be turned on leading to a tremendous growth model."
Forward-Looking Statements - Safe Harbor:
Certain information discussed in this press release may constitute forward-looking statements within the Private Securities Litigation Reform Act of 1995 and the federal securities laws. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions at the time made, it can give no assurance that its expectations will be achieved. Readers are cautioned not to place undue reliance on these forward-looking statements. Forward-looking statements are inherently subject to unpredictable and unanticipated risks, trends and uncertainties such as the Company's inability to accurately forecast its operating results; the Company's potential inability to achieve profitability or generate positive cash flow; the availability of financing; and other risks associated with the Company's business. The Company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events.
CONTACT: Black Dragon Resource Companies, Inc.
Investor Relations
Brian Holden
913-226-3818
Source: Globe Newswire (September 28, 2010 - 7:00 AM EDT)
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Recent Penny Stock Newsletters
•A BIG Congrats AGAIN! on PYBX! Still going! Be Ready fo...
Today 12:15 AMby Too Nice Stocks
•StockEgg.com - Watch List for Wednesday 9-29-2010
Yesterday 11:15 PMby Stock Egg
•DD For our ATPT Followup Necessary Information
Yesterday 11:15 PMby AcutalGains
•FEWP: New Play for Tomorrow`s Trading, Wednesday, Sept...
Yesterday 10:29 PMby Nano Cap Gems
•MBHS is going places, and its price is going to go with...
Yesterday 9:49 PMby OTC Market Alerts
•Ourhotstockpicks.com: LBSR, HLNT - How a $10,000 invest...
Yesterday 9:29 PMby Our Hot Stock Picks
•AREM - Hits 71% today and PYBX reaches 100%
Yesterday 9:07 PMby Alpha Penny Stock
•Xtremepicks.com: HLNT looking to be the next LBSR which...
Yesterday 9:07 PMby Xtreme Picks
•OTCPicks.com Stocks to Watch for Wednesday, September 2...
Yesterday 9:00 PMby OTC Picks
•BONT, RIMM, - CRWESelect Stocks To Watch Wednesday Sept...
Yesterday 8:29 PMby CRWE Select
•New Blazin Alert Tomorrow Morning @ 10:00 a.m.! Time T...
Yesterday 8:07 PMby OTC Blaze
•Do your homework on MBHS. This company has GREAT upsid...
Yesterday 8:00 PMby OTC Market Bulls
•HotOtc.com - Watch List for Wednesday
Yesterday 8:00 PMby HotOTC
•PennyToBuck.com Stock to Watch on PL & NGLS! for Septem...
Yesterday 7:34 PMby Penny to Buck
•OTCStockExchange Update
Yesterday 7:29 PMby OTC Stock Exchange
•Lebed.biz Alert - CUM shot to new high today!
Yesterday 7:17 PMby Lebed
•WhisperfromWallStreet Update
Yesterday 7:17 PMby Whisper from Wall Street
•CMRG, HPQ, - PennyOmega.com Watch List! for Wednesday S...
Yesterday 7:07 PMby PennyOmega
•New Pick Due Out Tomorrow, Wednesday, September 29th-Pr...
Yesterday 6:29 PMby Nano Cap Gems
•THERE`S NO CONTROLLING THIS - Sometimes Things Happen
Yesterday 6:29 PMby Chart Poppers
•I Was So Right On PYTO
Yesterday 6:00 PMby Monster Penny Stocks
•Stock Watch for September 29, 2010 from Stock-PR.com - ...
Yesterday 5:29 PMby Stock PR
•WPO, WTM - Kaplan Expands Free SAT Test Resources and A...
Yesterday 5:17 PMby Doubling Stocks
•Tues. Sept. 28, 2010 HotShotStocks AT THE CLOSE
Yesterday 5:07 PMby Hot Shot Stocks
•Member, RXAC - Green Giant
Yesterday 4:49 PMby The Bull Report
Read more: http://stockreads.com/Stock-Newsletters-Browse.aspx#ixzz10ucWxMnn
Top Penny Stock Newsletter Picks
SMHS in 13 Newsletters
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GGMC in 8 Newsletters
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SOPV in 7 Newsletters
HEME in 6 Newsletters
PROT in 6 Newsletters
PWRM in 6 Newsletters
PYBX in 6 Newsletters
VRED in 6 Newsletters
ICAD in 5 Newsletters
PYTO in 5 Newsletters
USAE in 5 Newsletters
VIZS in 5 Newsletters
Top Stock Picks From The Stock Boards
SSWC (4) PRPM (3) MGQG (3) CYCA (3) CCTC (3) STAX (2) PYBX (2) POSC (2) LCRE (2) IKTO (2) IFXY (2)
Board Buzz from OTCBB Alerts
Symbol # Picks Authors
SSWC 2 paramount , SmartDayTrader
PYBX 2 aliangel , mathew633
PRPM 2 paramount , SmartDayTrader
MGQG 2 jaxstraw , Iluvbbs
LCRE 2 reese12 , The_Champ
WANG 1 WANG
VKNG 1 ronpopeil
USAT 1 mathew633
TYTN 1 ash111
STAX 1 FAT STAX
SRCP 1 Epic
RPPR 1 dee44
REFG 1 Vigo
PVHO 1 powerbattles
POSC 1 JJSeabrook
PDPR 1 hArdCoReJESUSfreAk
NITE 1 riverandfold
MYFT 1 The_Champ
MVIR 1 MVIR
HTLJ 1 Adonis74
GTLL 1 JJL
GLER 1 JJL
ENSLR 1 mathew633
DNPI 1 me2
CPSL 1 AngusYoung
COUV 1 difiore4
BDEV 1 Rawnoc
ATWEC 1 sgt947
ANDR 1 chesco71_com
Board Buzz from Yahoo Shakerzandmoverz
Symbol # Picks Authors
CCTC 3 kingofpennies2010 , KingOf , Gary Marlow
SSWC 2 Mike , mikehonglin
PRPM 1 Mike
NBDR 1 kingofpennies2010