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Axial Vector Energy Corporation business updates to air on radio and internet 8pm EST, Saturday, September 12th and 10pm EST, Sunday, September 13th, 2009
* Press Release
* Source: Axial Vector Energy Corporation
* On Friday September 11, 2009, 5:35 am EDT
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DUBAI, United Arab Emirates, Sept. 11 /PRNewswire-FirstCall/ - Axial Vector Energy Corporation ("AVEC") (Pink Sheets: AXVC - News; Frankfurt: BAE1) announced today that Business Talk Radio (www.businesstalkradio.net) will be airing an interview with AVEC lead engineer Douglas Hahn (http://www.youtube.com/user/EICADXB#play/uploads/0/sVEOTNjAtCU) at 8PM Eastern Standard Time (EST) on Saturday, September 12th. A list of local stations can be found at http://www.businesstalkradio.net/zipsearch.shtml. The show will be web simulcast and archived (www.businesstalkradio.net) as well.
Chairman Sam Higgins (http://www.youtube.com/user/EICADXB#play/uploads/1/VrC7bAPsHB4) will also be interviewed by host Stu Taylor (http://www.radioamerica.org/PRG_equitystrategies.htm) on Radio America's (www.radioamerica.org) Equity Strategies segment at 10PM EST on Sunday, September 13th. Radio America can be heard on 45 radio stations in the U.S. A., complete listing can be found at http://www.stutaylor.com/radio_affiliate_listing_RA.htm. Mr. Higgins remarks will also be web simulcast and archived (www.radioamerica.org).
Remarked Chairman Sam Higgins, "Both interviews will be very informative. We highly encourage our OEMs and shareholders to listen to both."
About Axial Vector Energy Corporation
Axial Vector Energy Corporation (AVEC) is a global solutions provider that owns, develops, invest in and licenses revolutionary technologies including, internal combustion engine and electric power generator technologies that have unlimited potential in military, industrial and commercial applications. AVEC and its partners are positioned to become unrivalled leaders in international engine and energy markets with technologies that produce more efficient, cost effective, environmentally sensitive and versatile solutions for use in a wide variety of important applications around the world.
Forward-Looking Statements
This press release may be deemed to contain forward-looking information. Any forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements, including statements as to industry trends, future economic performance, anticipated profitability, anticipated revenues and expenses, and products or service line growth, may be significantly and materially impacted by certain risks and uncertainties, including, but not limited to, failure to meet operating objectives or to execute the operating plan, completion, and other economic factors. Additional risks and uncertainties are described in the Company's public filings with the Securities and Exchange Commission.
To be added to the Company's email distribution for future news releases, please send your request to inquiry@axialvectorenergy.com.
The first hole drilled intersected a layer of mineralization with 424 mg/m3 of gold. Sweet
Thanks for the reply speeds. I missed the announcement of upcoming drill results. I do remember an announcement about 2 months ago promising them in 4 to 6 weeks.
I hope they give results by depth as it will be interesting to see if concentrations increase with depth as expected. Hoping for 395 Mg/M3 or more.
I seem to be talking to myself. Isn't anyone else getting excited? CMIN up another 17% and AZNG up 115.38%.
marketwire
AVEC Announces Launch of Global Awareness Program and New Website
* Press Release
* Source: Axial Vector Engine Corp.
* On Tuesday September 8, 2009, 6:41 am EDT
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DUBAI, UNITED ARAB EMIRATES--(Marketwire - 09/08/09) - Axial Vector Energy Corporation ("AVEC") (Pinksheets:AXVC - News) (Frankfurt:BAE1 - News) announced today the launch of Global Awareness Program and AVEC's new website. The Global Awareness Program will air on WBIX The Business Station (www.wbix.com) and Business Talk Radio Network (www.businesstalkradio.net) and it covers financial and marketing groups and institutional investor markets. Chief AVEC Engineer, Mr. Douglas Hahn, will explain the many benefits of our unique multi fuel engines and generators.
Mr. Sanjai Chhaunker, President & CEO of AVEC, is also pleased to announce the launching of the new website, www.axialvectorenergy.com. Mr. Chhaunker said, "This comprehensive upgrading, along with the detailed road map letter, clearly outlines the success strategy of the new AVEC." Mr. Chhaunker further added, "Douglas Hahn's radio interview on September 9th and 10th is the beginning of a Global Investor Awareness Program, which includes TV, print media, Green Energy Conference presentations and exposure of our company's products to institutional investors."
About Axial Vector Energy Corporation
Axial Vector Energy Corporation (AVEC) is a global solutions provider that owns, develops, invests in and licenses revolutionary technologies including internal combustion engine and electric power generator technologies that have unlimited potential in military, industrial and commercial applications. AVEC and its partners are positioned to become unrivalled leaders in international engine and energy markets with technologies that produce more efficient, cost effective, environmentally sensitive and versatile solutions for use in a wide variety of important applications around the world.
Forward Looking Statements
This press release may be deemed to contain forward-looking information. Any forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements, including statements as to industry trends, future economic performance, anticipated profitability, anticipated revenues and expenses, and products or service line growth, may be significantly and materially impacted by certain risks and uncertainties, including, but not limited to, failure to meet operating objectives or to execute the operating plan, completion, and other economic factors. Additional risks and uncertainties are described in the Company's public filings with the Securities and Exchange Commission.
To be added to the Company's email distribution for future news releases, please send your request to inquiry@axialvectorenergy.com.
China and the price of gold
http://www.thedailybell.com/514/China-and-the-price-of-gold.html
AVEC Launches New Website and Business Model Tuesday, September 8th
* Press Release
* Source: Axial Vector Engine Corp.
* On Thursday September 3, 2009, 5:57 am EDT
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DUBAI, UNITED ARAB EMIRATES--(Marketwire - 09/03/09) - Axial Vector Energy Corporation ("AVEC") (Pinksheets:AXVC - News) (Frankfurt:BAE1 - News) announced today that its new corporate website including special access for OEMs (Original Equipment Manufacturers for Engines) will launch on Tuesday, September 8th at 9:30 AM Eastern Time.
A comprehensive update letter from the new Chairman, Mr. Samuel Higgins and President & CEO, Mr. Sanjai Chhaunker will also be included. In addition, two videos will be featured. The first video will provide an overall explanation of the benefits of the AVEC family of technologies. The second video will give a detailed 'tour' of the operating engine, generator, and engine control system. Mr. Sanjai, Chhaunker, President & CEO stated, "The combination of these completed technologies clearly show that the several years and multi-million dollar development program have been worth it." Mr. Chhaunker went on to say, "Much lower fuel consumption, dramatically lower emissions, the ability to run effortlessly on non-fossil fuels, and the ability to remotely monitor and do diagnostics will allow rapid deployment around the world."
About Axial Vector Energy Corporation
Axial Vector Energy Corporation (AVEC) is a global solutions provider that owns, develops, invests in and licenses revolutionary technologies including internal combustion engine and electric power generator technologies that have unlimited potential in military, industrial and commercial applications. AVEC and its partners are positioned to become unrivalled leaders in international engine and energy markets with technologies that produce more efficient, cost effective, environmentally sensitive and versatile solutions for use in a wide variety of important applications around the world.
Forward Looking Statements
This press release may be deemed to contain forward-looking information. Any forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements, including statements as to industry trends, future economic performance, anticipated profitability, anticipated revenues and expenses, and products or service line growth, may be significantly and materially impacted by certain risks and uncertainties, including, but not limited to, failure to meet operating objectives or to execute the operating plan, completion, and other economic factors. Additional risks and uncertainties are described in the Company's public filings with the Securities and Exchange Commission.
To be added to the Company's email distribution for future news releases, please send your request to inquiry@axialvectorenergy.com.
This seems to say it has much grater range than WIFI, which you need for SKYPE. "Simply stated, this breakthrough technology turns any Cell Phone, PDA, Blackberry, or Apple IPhone into working like a WiFi phone that goes miles, not feet."
The 5 cents a minute to England is twice what I pay SKYPE from here in the West Indies to US, Canada or UK.
up trend continuing. PR please
I live outside the US and use SKYPE (it is fantastic) for all overseas calls. Skype is supposed to work from the iPhone but I have not been able to make it work. I think this is some what different in that it is designed for cell phones.
up 140% today - not to shabby
AVEC JV Partner PETRO-AVEC in Negotiations to License Its Oxidative Desulphurization Technology to India
* Press Release
* Source: Axial Vector Engine Corp.
* On Tuesday September 1, 2009, 8:29 am EDT
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Companies:
o AXIAL VECTOR ENGINE
o AXIAL VECTOR ENGINE
DUBAI, UNITED ARAB EMIRATES--(Marketwire - 09/01/09) - Axial Vector Energy Corporation ("AVEC") (Pinksheets:AXVC - News) (Frankfurt:BAE1 - News) announced today its JV Company PETRO-AVEC is aggressively negotiating licenses that would secure rights for its oil refining technology covering the entire country of India. Government agencies for India and large multi-billion dollar privately owned refineries are all in the running for the issuance of this important license. According to the CIA World Fact Book, India currently consumes 2.9 million barrels of oil per day.
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PETRO-AVEC officials originally presented its technical due diligence to interested parties in India back in June of this year. They have now been invited back to India by multiple interested parties to finalize license negotiations starting September 4, 2009.
Third party data from two of the world's largest oil producers has confirmed the viability of removing the sulphur allowing cleaner air and dramatic savings on both capital outlay and per barrel cost of processing. Sulphur in oil remains the number one problem facing the oil industry and PETRO AVEC believes it has the best solution to this important and expensive problem.
Independent valuation models for royalty concessions to PETRO-AVEC range between $ 0.50 and $2.00 per barrel. Global oil consumption is now estimated at 85.8 million barrels per day and the amount of "sour" high sulphur oil is increasing rapidly making the Oxidative Desulphurization and Heavy Crude upgrade technologies of PETRO AVEC even more valuable there are no other current economical solutions that exist.
Samuel Higgins, Chairman of AVEC, stated, "We are receiving worldwide recognition and increasing estimates as to the value of the technology, especially since we continue to win new patent awards from major oil producing markets." Mr. Higgins went on to note, "So much so, that we have been invited to present at the 'Petrochem Arabia' conference in Saudi Arabia this October and the International Green Summit in Moura, Portugal this November."
About Axial Vector Energy Corporation
Axial Vector Energy Corporation (AVEC) is a global solutions provider that owns, develops, invests in and licenses revolutionary technologies including internal combustion engine and electric power generator technologies that have unlimited potential in military, industrial and commercial applications. AVEC and its partners are positioned to become unrivalled leaders in international engine and energy markets with technologies that produce more efficient, cost effective, environmentally sensitive and versatile solutions for use in a wide variety of important applications around the world.
About PETRO-AVEC LLC
PETRO-AVEC LLC is a joint venture to develop; finance and market sulfur removal technology globally
Forward-Looking Statements
This press release may be deemed to contain forward-looking information. Any forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements, including statements as to industry trends, future economic performance, anticipated profitability, anticipated revenues and expenses, and products or service line growth, may be significantly and materially impacted by certain risks and uncertainties, including, but not limited to, failure to meet operating objectives or to execute the operating plan, completion, and other economic factors. Additional risks and uncertainties are described in the Company's public filings with the Securities and Exchange Commission.
To be added to the Company's email distribution for future news releases, please send your request to inquiry@axialvectorenergy.com.
Good find Recognizer. Was today's date on it? I hope the Co. will make this public very soon. This sentence alone should create huge interest and much free publicity. " Constitution Mining could be looking at 100 million ounces of gold…which would make this the largest gold strike in modern history."
AVEC JV Partner PETRO-AVEC Invited to Petrochem Arabia Conference in Saudi Arabia
* Press Release
* Source: Axial Vector Engine Corp.
* On Monday August 31, 2009, 6:55 am EDT
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DUBAI, UNITED ARAB EMIRATES--(Marketwire - 08/31/09) - Axial Vector Energy Corporation ("AVEC") (Pinksheets:AXVC - News) (Frankfurt:BAE1 - News) announced today its JV company PETRO-AVEC has accepted an invitation to the "Petrochem Arabia" conference held October 4-6 in Dammam, Saudi Arabia.
This conference is under the Patronage of HRH Prince Mohammed Bin Fahd Bin Abdulaziz, Governor of the Eastern Province of the Kingdom of Saudi Arabia.
Petrochem Arabia 2009 has the full support of the Federation of GCC Chambers, as well as other major local and international organizations and is being held under the high patronage of His Royal Highness. This event brings government, Saudi and international private sector companies together to examine the current opportunities and challenges being faced in the Kingdom's petrochemical industry. It is the only conference focusing on petrochemicals in Saudi Arabia, the world's largest oil producer with over nine million barrels per day production.
PETRO-AVEC officials will be presenting the third party technical due diligence from two of the world's largest oil producers which has confirmed the viability of removing sulphur from oil allowing cleaner air and dramatic savings on both capital outlay and per barrel cost of processing.
Independent valuation models for royalty concessions to PETRO-AVEC range between $0.50 and $2.00 per barrel. Global oil consumption is now estimated at 85.8 million barrels per day and the amount of "sour" high sulphur oil is increasing rapidly making the Oxidative Desulphurization and Heavy Crude upgrade technologies of PETRO-AVEC even more valuable as no other current solution exists.
"We have today begun the exposure worldwide to show the value of the technology now that our worldwide patents have been granted to most major oil producing markets," states Samuel Higgins, Chairman of AVEC and Managing Director of PETRO-AVEC.
About Petrosonics, LLC
Petrosonics, LLC is a privately held, development stage, and U.S.-based oil refining and production Technology Company. Petrosonics' patented products and services utilize high power ultrasound energy in order to reduce sulfur, nitrogen, and trace metals in refinery intermediates and product streams. Intermediates and product streams receiving the Petrosonics treatment show reductions in oil density and viscosity, reduced hydrogen use/loss, and increases in API specific gravity and volume. The proprietary Petrosonics technology has additional application in treating and/or pretreating sour crude oils. Petrosonics was formed in 2001 by Mark Cullen, M.D. Dr. Cullen was previously the President and CEO of SulphCo. Today, Petrosonics has acquired and continues to expand its patent portfolio for all of the significant intellectual property associated with ultrasound assisted oxidative desulphurization of oil fractions and the upgrade and desulphurization of crude oil.
About Axial Vector Energy Corporation
Axial Vector Energy Corporation (AVEC) is a global solutions provider that owns, develops, invests in and licenses revolutionary technologies including internal combustion engine and electric power generator technologies that have unlimited potential in military, industrial and commercial applications. AVEC and its partners are positioned to become unrivalled leaders in international engine and energy markets with technologies that produce more efficient, cost effective, environmentally sensitive and versatile solutions for use in a wide variety of important applications around the world.
About PETRO-AVEC LLC
PETRO-AVEC LLC is a joint venture between AVEC and Petrosonics LLC to develop; finance and market Petrosonics sulfur removal technology globally. The joint venture is owned 60% by Petrosonics LLC and 40% by AVEC.
Forward-Looking Statements
This press release may be deemed to contain forward-looking information. Any forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements, including statements as to industry trends, future economic performance, anticipated profitability, anticipated revenues and expenses, and products or service line growth, may be significantly and materially impacted by certain risks and uncertainties, including, but not limited to, failure to meet operating objectives or to execute the operating plan, completion, and other economic factors. Additional risks and uncertainties are described in the Company's public filings with the Securities and Exchange Commission.
Check out the mining area in Peru with Google Earth @ 4 degrees 34 minutes South / 77degrees 25 minutes West.
Great two weeks for price and volume. We are on our way. I hope.
marketwire
Axial Vector Energy to Be Featured, "Special Edition TV" on Fox TV Sunday, Sept. 27th, 11:00 Eastern Time
Special Edition TV and the Global News Group Announces the Inclusion of Axial Vector Energy as a Feature Story on Their 2009 Environmental and Green Technology Series
* Press Release
* Source: Axial Vector Engine Corp.
* On Thursday August 27, 2009, 6:48 am EDT
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DUBAI, UNITED ARAB EMIRATES--(Marketwire - 08/27/09) - Axial Vector Energy Corporation ("AVEC") (Pinksheets:AXVC - News) (Frankfurt:BAE1 - News) announced today that its revolutionary Axial Vector Engine will be featured on the Global News Group Program "Special Edition TV." The program is designed to provide a platform for companies and organizations to talk about and present their solutions. Select companies are provided with international exposure via customized news reports reaching industry leaders and people through various news and media outlets.
On July 14, 2009, Host and Managing Editor of "Special Edition TV", Ileana Bravo interviewed representatives from AVEC at their first United States-based live demonstration of the "axial flux" and GENSET technology power generating system. Footage from these interviews, demonstrations, and other sources was compiled to help deliver this story of advanced green technology.
Ms. Bravo commented, "The fact that this engine runs on bio-based oil as fuel is significant in several ways. Palm oils that are totally renewable fuel sources can be harvested from our Earth's equatorial regions providing needed jobs and social development. Developing countries in these regions can now enter the world economic stage as a viable and important player. The environmental impact of using palm oil as a fuel source is minimal, and this fuel source is one that you can literally drink. That is amazing."
The revolutionary Axial Vector Engine is AVEC's flagship technology and will serve as the core of the company's initial market applications. This incredibly powerful, lightweight, and highly efficient radial-design engine is capable of producing significantly higher horsepower and torque with considerably lower fuel requirements than is the case for conventional engines of similar size. At the same time, the Axial Vector Engine is less costly to manufacture and operate, and provides significant environmental advantages over standard internal combustion engines.
In addition to its engine technologies, AVEC has designed a revolutionary new family of high-power "Axial Flux" coreless electric generators that reach 98.5% efficiency in converting mechanical to electric energy. AVEC's Axial Vector Engine is designed to be seamlessly integrated with two 100 kW Axial Flux generators in order to create a 200 kW generator set (GENSET) that is expected to become AVEC's first commercially marketed product.
"We are encouraged at the reception this technology has already garnered," states Samuel Higgins, Chairman of the Board of Directors. He goes on to note: "So much so, that we have been invited to present at the International Green Summit this November in Moura, Portugal and will launch our new web site next week for OEMs (for engines) to quickly review and receive production information. Sanjai Chhaunker (Our President & CEO) and I will be posting a comprehensive shareholder letter which reviews all areas of AVEC and outlines the future for our company soon."
About Axial Vector Energy Corporation
Axial Vector Energy Corporation (AVEC) is a global solutions provider that owns, develops, invests in and licenses revolutionary technologies including internal combustion engine and electric power generator technologies that have unlimited potential in military, industrial and commercial applications. AVEC and its partners are positioned to become unrivalled leaders in international engine and energy markets with technologies that produce more efficient, cost effective, environmentally sensitive and versatile solutions for use in a wide variety of important applications around the world.
About the Global News Group
The Global News Group and Special Edition TV is a team of EMMY, Telly and Peabody award winning journalists, producers and directors. "Special Edition TV" covers the latest in business and technology from innovators and industry leaders. The program is designed to provide a platform for companies and organizations to talk about and present their solutions, technologies and services. Select companies are provided with international exposure via customized news reports reaching industry leaders and people through various news and media outlets.
Forward-Looking Statements
This press release may be deemed to contain forward-looking information. Any forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements, including statements as to industry trends, future economic performance, anticipated profitability, anticipated revenues and expenses, and products or service line growth, may be significantly and materially impacted by certain risks and uncertainties, including, but not limited to, failure to meet operating objectives or to execute the operating plan, completion, and other economic factors. Additional risks and uncertainties are described in the Company's public filings with the Securities and Exchange Commission.
To be added to the Company's email distribution for future news releases, please send your request to inquiry@axialvectorenergy.com.
RW what should we consider as good results? 295 MG per cubic meter is mentioned on there web page. I figure that at about 1 oz. per 28.35 cubic meters. I guess the pivotal figure is the cost of recovery which they put at an incredibly low $200 to $300 an oz. I have high hopes for this one and AZNG.
Axial Vector Energy Corporation Engines and Generators Proposed for U.S. Army Efficient Powertrain Technologies Contract
* Press Release
* Source: Axial Vector Engine Corp.
* On Monday August 17, 2009, 7:46 am EDT
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Companies:
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o AXIAL VECTOR ENGINE
DUBAI, UNITED ARAB EMIRATES--(Marketwire - 08/17/09) - Axial Vector Energy Corporation ("AVEC") (Pinksheets:AXVC - News) (Frankfurt:BAE1 - News) announced today that it is proposing its Workhorse engine and ancillary generator solutions in response to the U.S. Army's Efficient Powertrain Technologies Broad Agency Announcement (BAA), http://contracting.tacom.army.mil/baa/05RBAA1/topics.htm.
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{"s" : "axvc.pk,bae1.f","k" : "c10,l10,p20,t10","o" : "","j" : ""}
The U.S. Army is launching a four year program to develop new powertrain technologies. Specifically, the Army is looking for a solution matching a diesel engine, a longitudinal transmission, and a high output optimized electrical generator device to provide exportable electrical power. The winning solution must demonstrate the ability to reduce fuel consumption, reduce noise, and operate on a variety of fuel combinations and mixtures.
The contract is anticipated to be funded $1.32M in FY10, $1.92M in FY11, $1.75M in FY12, and $2.01M in FY13.
Regarding the BAA, AVEC President and CEO Sanjai Chhaunker remarked, "Our patented commercial Workhorse engines and generators are uniquely qualified for this effort and are fully corroborated by third party performance test data. We are confident that we can meet the Army's requirements for an exportable power generation system capable of running inexpensively on a variety of fuel combinations and mixtures. Our solution will save the U.S. military years of research. We also believe that our equipment's ability to operate in extreme desert and jungle environments will be compelling. We look forward to working with them."
About Axial Vector Energy Corporation
Axial Vector Energy Corporation (AVEC) is a global solutions provider that owns, develops, invests in and licenses revolutionary technologies including internal combustion engine and electric power generator technologies that have unlimited potential in military, industrial and commercial applications. AVEC and its partners are positioned to become unrivalled leaders in international engine and energy markets with technologies that produce more efficient, cost effective, environmentally sensitive and versatile solutions for use in a wide variety of important applications around the world.
Forward-Looking Statements
This press release may be deemed to contain forward-looking information. Any forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements, including statements as to industry trends, future economic performance, anticipated profitability, anticipated revenues and expenses, and products or service line growth, may be significantly and materially impacted by certain risks and uncertainties, including, but not limited to, failure to meet operating objectives or to execute the operating plan, completion, and other economic factors. Additional risks and uncertainties are described in the Company's public filings with the Securities and Exchange Commission.
To be added to the Company's email distribution for future news releases, please send your request to inquiry@axialvectorenergy.com.
Form 10-Q for CONSTITUTION MINING CORP
14-Aug-2009
Quarterly Report
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations.
This Quarterly Report on Form 10-Q contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. The words "believe," "expect," "anticipate," "intend," "estimate," "may," "should," "could," "will," "plan," "future," "continue," and other expressions that are predictions of or indicate future events and trends and that do not relate to historical matters identify forward-looking statements. These forward-looking statements are based largely on our expectations or forecasts of future events, can be affected by inaccurate assumptions, and are subject to various business risks and known and unknown uncertainties, a number of which are beyond our control. Therefore, actual results could differ materially from the forward-looking statements contained in this document, and readers are cautioned not to place undue reliance on such forward-looking statements. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. A wide variety of factors could cause or contribute to such differences and could adversely impact revenues, profitability, cash flows and capital needs. There can be no assurance that the forward-looking statements contained in this document will, in fact, transpire or prove to be accurate.
Factors that could cause or contribute to our actual results differing materially from those discussed herein or for our stock price to be adversely affected include, but are not limited to: (i) risk that we fail to meet the requirements of the agreement under which we acquired our options, including any payments or any exploration obligations that we have regarding these properties, which could result in the loss of our right to exercise the options to acquire the mineral and mining rights underlying these properties as well as the ability to recover any consideration paid to date; (ii) risk that we cannot attract, retain and motivate qualified personnel, particularly employees, consultants and contractors for our operations in Peru; (iii) risk that we will be unable to dispose of our interests in the properties located in the Salta and Mendoza provinces of Argentina and be unable to recover any consideration paid concerning these property interests; (iv) our short operating history; (v) our ability to manage business expansion; (vi) risks and uncertainties relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits; (vii) results of initial feasibility, pre-feasibility and feasibility studies, and the possibility that future exploration, development or mining results will not be consistent with our expectations; (viii) mining and development risks, including risks related to accidents, equipment breakdowns, labor disputes or other unanticipated difficulties with or interruptions in production; (ix) the potential for delays in exploration or development activities or the completion of feasibility studies; (x) risks related to the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; (xi) risks related to commodity price fluctuations; (xii) the uncertainty of profitability based upon our history of losses; (xiii) risks related to failure to obtain adequate financing on a timely basis and on acceptable terms for our planned exploration and development projects; (xiv) risks related to environmental regulation and liability; (xv) risks that the amounts reserved or allocated for environmental compliance, reclamation, post-closure control measures, monitoring and on-going maintenance may not be sufficient to cover such costs; (xvi) risks related to tax assessments; (xvii) political and regulatory risks associated with mining development and exploration; (xviii) other risks and uncertainties related to our prospects, properties and business strategy; (xix) potential that stockholders may lose all or part of their investment if we are unable to compete in our industry; (xx) our dependence on key personnel; (xxi) sale of substantial amounts of our common stock that may have a depressive effect on the market price of the outstanding shares of our common stock; (xxii) possible issuance of common stock subject to options and warrants that may dilute the interest of stockholders; (xxiii) our ability to comply with Sarbanes-Oxley Act of 2002 Section 404; (xxiv) our nonpayment of dividends and lack of plans to pay dividends in the future; (xxv) future sale of a substantial number of shares of our common stock that could depress the trading price of our common stock, lower our value and make it more difficult for us to raise capital; (xxvi) our additional securities available for issuance, which, if issued, could adversely affect the rights of the holders of our common stock; (xxvii) our stock price which is likely to be highly volatile because of several factors, including a relatively limited public float; and (xxviii) indemnification of our officers and directors.
- 4 -
Table of Contents
As used in this Quarterly Report, the terms "we," "us," "our," and "Constitution Mining" mean Constitution Mining Corp. and our subsidiaries, unless otherwise indicated.
Overview
We were incorporated in the state of Nevada under the name Crafty Admiral Enterprises, Ltd. on March 6, 2000. Our original business plan was to sell classic auto parts to classic auto owners all over the world through an Internet site and online store; however, we were unsuccessful in implementing the online store and were unable to afford the cost of purchasing, warehousing and shipping the initial inventory required to get the business started. As a result, we ceased operations in approximately July 2002.
During our fiscal year ended December 31, 2006, we reorganized our operations to pursue the exploration, development, acquisition and operation of oil and gas properties. On June 27, 2006, we acquired a leasehold interest in a mineral, oil and gas property located in St. Francis County, Arkansas for a cash payment of $642,006, pursuant to an oil and gas agreement we entered into on April 29, 2006 (the "Tombaugh Lease"). Shortly after acquiring the Tombaugh Lease, we suspended our exploration efforts on the property covered by the Tombaugh Lease in order to pursue business opportunities developing nickel deposits in Finland, Norway and Western Russia. On January 18, 2008, we assigned all of our right, title and interest in and to the Tombaugh Lease to Fayetteville Oil and Gas, Inc., which agreed to assume all of our outstanding payment obligations on the Tombaugh Lease as consideration for the assignment. On March 9, 2007, we changed our name to better reflect our business to "Nordic Nickel Ltd." pursuant to a parent/subsidiary merger with our wholly-owned non-operating subsidiary, Nordic Nickel Ltd., which was established for the purpose of giving effect to this name change. We were not successful pursuing business opportunities developing nickel deposits in Finland, Norway and Western Russia and again sought to reorganize our operations in November 2007.
In November 2007, we reorganized our operations and changed our name to "Constitution Mining Corp." to better reflect our current focus which is the acquisition, exploration, and potential development of mining properties. Since November 2007, we entered into agreements to secure options to acquire the mineral and mining rights underlying properties located in the Salta and Mendoza provinces of Argentina and in northeastern Peru.
We are considered an exploration or exploratory stage company because we are involved in the examination and investigation of land that we believe may contain valuable minerals, for the purpose of discovering the presence of ore, if any, and its extent. There is no assurance that a commercially viable mineral deposit exists on any of the properties underlying our mineral property interests, and a great deal of further exploration will be required before a final evaluation as to the economic and legal feasibility for our future exploration is determined. We have no known reserves of any type of mineral. To date, we have not discovered an economically viable mineral deposit on any of the properties underlying our mineral property interests, and there is no assurance that we will discover one. If we cannot acquire or locate mineral deposits, or if it is not economical to recover any mineral deposits that we do find, our business and operations will be materially and adversely affected.
Our current business plan calls for investing any surplus operating capital resulting from retained earnings into bullion accounts and does not include holding retained earnings, if any, in cash or cash equivalents. In the event that commercially exploitable reserves of minerals exist on any of our property interests and we are able to make a profit, our business plan is to sell enough mineral reserves to satisfy all of our expenses and invest all retained mineral reserves in bullion accounts established in Zurich, Switzerland. The price of precious and base metals such as gold and silver has fluctuated widely in recent years, and is affected by numerous factors beyond our control, including international, economic and political trends, expectations of inflation, currency exchange fluctuations, interest rates, global or regional consumptive patterns, speculative activities and increased production due to new extraction developments and improved extraction and production methods. The effect of these factors on the price of base and precious metals, and, therefore, the change in the value of our retained earnings, if any, held in bullion accounts cannot accurately be predicted and is subject to significant fluctuation. There can be no assurance that the value of any bullion accounts established by us in the future to hold retained mineral reserves, if any, will not be adversely impacted by fluctuations in the price of base and precious metals resulting in significant losses.
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Table of Contents
In light of the current economic environment, our management in this second quarter of fiscal 2009 determined that it was necessary to reassess the Company's current direction and proposed plans for exploration. In connection with this review, we announced that we were suspending our exploration program on the properties located in the Salta and Mendoza provinces of Argentina for at least the remainder of 2009 and would allocate our resources exclusively to pursue the exploration and development of our property interests in northeastern Peru.
We continued to monitor the current economic environment globally and within Argentina and have noted an increasing trend toward instability within Argentina. Rising and excessive inflation rates in Argentina have significantly increased the costs of the proposed operations in Argentina beyond our initial expectations. We believe, after further evaluation, that Argentinean governmental bodies are pursing policies and regulations which would adversely impact our planned operations in Argentina. We currently have a working capital deficiency and believe that it is presently not the best allocation of our resources to conduct exploration activities in two different countries. For the foregoing reasons, we have determined it to be in our best interest to seek to dispose of our interests in the properties located in the Salta and Mendoza provinces of Argentina as soon as practicable so as to prevent any default on any of these underlying option agreements.
We are reviewing our available alternatives to dispose of our interests in the Argentinean properties for value. We will continue to canvass a number of qualified parties with respect to a possible transaction and one party has requested information regarding the Atena Property. At the present time, there is no certainty that we will successfully be able to complete a disposition for value of any or all of our interests in the properties located in the Salta and Mendoza provinces of Argentina. In the event that we cannot complete a disposition of our interests in these Argentinean properties and we default on any of these underlying option agreements, our rights to acquire the underlying mineral and mining rights will revert back to Proyectos Mineros S.A. ("PMSA") (formerly Recursos Maricunga S.A.), the assignor, and we may not be entitled to recover of any consideration we have paid to date, an aggregate of 4,100,000 shares of our common stock and $70,000.
The assignor for the properties located in the Salta and Mendoza provinces of Argentina is PMSA. Dr. Willem Fuchter, our Chief Executive Officer and board member, is also the president and director of PMSA and holds a 50% ownership interest in the voting securities of PMSA. As a result of this conflict of interest, Dr. Fuchter abstained from the board of director's vote approving the decision to seek to dispose of our interests in the Argentinean properties.
Peru Property
Our properties located in Peru are in the exploration state. These properties are without known reserves and the proposed plan of exploration detailed below is exploratory in nature. These properties are described below.
On September 29, 2008 (the "Effective Date"), we entered into a Mineral Right Option Agreement (the "Option Agreement") with Temasek Investments Inc. ("Temasek"), a company incorporated under the laws of Panama in relation to the Peru property. Pursuant to the Option Agreement, we acquired four separate options from Temasek, each providing for the acquisition of a twenty-five percent interest in certain mineral rights in Peru described in Annex 1 of the Option Agreement (the "Mineral Rights"), pursuant to which we could potentially acquire one hundred percent of the Mineral Rights. The Mineral Rights are owned by Compa��a Minera Mara��n S.A.C. ("Minera Mara��n"). Bacon Hill Invest Inc. ("Bacon Hill"), a corporation incorporated under the laws of Panama and a wholly-owned subsidiary of Temasek, owns 999 shares of the 1,000 shares of Minera Mara��n that are issued and outstanding. Temasek owns the single remaining share of Minera Mara��n. The acquisition of each twenty-five percent interest in the Mineral Rights will occur through the transfer to us of twenty-five percent of the outstanding shares of Bacon Hill.
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Table of Contents
A description of the Mineral Rights is set forth below:
Name Area Dept. Province District Observation
(hectares)
Aixa 2 1000 Loreto Datem del Mara�on Manseriche
Alana 10 900 Loreto Datem del Mara�on Manseriche Fully overlap Zona de
Amortiguamiento ANP
Alana 11 1000 Loreto Datem del Mara�on Manseriche Fully overlap Zona de
Amortiguamiento ANP
Alana 12 1000 Loreto Datem del Mara�on Manseriche Fully overlap Zona de
Amortiguamiento ANP
Alana 13 1000 Loreto Datem del Mara�on Manseriche Fully overlap Zona de
Amortiguamiento ANP
Alana 14 1000 Loreto Datem del Mara�on Manseriche Fully overlap Zona de
Amortiguamiento ANP
Alana 15 800 Loreto Datem del Mara�on Manseriche Fully overlap Zona de
Amortiguamiento ANP
Alana 16 800 Loreto Datem del Mara�on Manseriche Fully overlap Zona de
Amortiguamiento ANP
Alana 17 1000 Loreto Datem del Mara�on Manseriche Fully overlap Zona de
Amortiguamiento ANP
Alana 18 1000 Loreto Datem del Mara�on Manseriche Fully overlap Zona de
Amortiguamiento ANP
Alana 19 1000 Loreto Datem del Mara�on Manseriche Fully overlap Zona de
Amortiguamiento ANP
Alana 4 900 Loreto Datem del Mara�on Manseriche Fully overlap Zona de
Amortiguamiento ANP
Alana 5 700 Loreto Datem del Mara�on Manseriche Fully overlap Zona de
Amortiguamiento ANP
Alana 6 1000 Loreto Datem del Mara�on Manseriche Fully overlap Zona de
Amortiguamiento ANP
Alana 7 1000 Loreto Datem del Mara�on Manseriche Fully overlap Zona de
Amortiguamiento ANP
Alana 8 1000 Loreto Datem del Mara�on Manseriche Fully overlap Zona de
Amortiguamiento ANP
Alana 9 1000 Loreto Datem del Mara�on Manseriche Fully overlap Zona de
Amortiguamiento ANP
Bianka 5 1000 Loreto Datem del Mara�on Manseriche
Castalia 1 1000 Loreto Datem del Mara�on Manseriche
Castalia 2 1000 Loreto Datem del Mara�on Manseriche
Castalia 3 500 Loreto Datem del Mara�on Manseriche
Delfina 1 900 Amazonas Condorcanqui Nieva Partially overlap Zona
de Amortiguamiento ANP
Delfina 2 900 Amazonas Condorcanqui Nieva Partially overlap Zona
de Amortiguamiento ANP
Delfina 3 1000 Amazonas Condorcanqui Nieva Partially overlap Zona
de Amortiguamiento ANP
Delfina 4 700 Amazonas Condorcanqui Nieva Partially overlap Zona
de Amortiguamiento ANP
Delfina 5 1000 Amazonas Condorcanqui Nieva Partially overlap Zona
de Amortiguamiento ANP
Mika 1 600 Loreto Datem del Mara�on Manseriche
Mika 10 900 Loreto Datem del Mara�on Manseriche Partially overlap Zona
de Amortiguamiento ANP
Mika 2 1000 Loreto Datem del Mara�on Manseriche
Mika 3 900 Loreto Datem del Mara�on Manseriche
Mika 4 1000 Loreto Datem del Mara�on Manseriche
Mika 5 1000 Loreto Datem del Mara�on Manseriche
Mika 6 1000 Loreto Datem del Mara�on Manseriche
Mika 7 900 Loreto Datem del Mara�on Manseriche
Mika 8 1000 Loreto Datem del Mara�on Manseriche Partially overlap Zona
de Amortiguamiento ANP
Mika 9 1000 Loreto Datem del Mara�on Manseriche
Rosalba 1 900 Loreto Datem del Mara�on Manseriche
Rosalba 2 900 Loreto Datem del Mara�on Manseriche
Rosalba 3 1000 Loreto Datem del Mara�on Manseriche
Rosalba 4 1000 Loreto Datem del Mara�on Manseriche
Rosalba 5 1000 Loreto Datem del Mara�on Manseriche
- Barranca
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Table of Contents
We may exercise the initial twenty-five percent option, which provides for the acquisition of a twenty-five percent interest in the Mineral Rights, after fulfilling the following conditions:
� Payment of $375,000 to Temasek upon execution of the Option Agreement;
� Issuance of 2,000,000 shares of our common stock to Temasek within five business days from the Effective Date; and
� Payment of an additional $375,000 to Temasek within ninety days of the Effective Date.
Since the execution of the Option Agreement, we have paid a total of $750,000 and have issued 2,000,000 shares of our common stock to Temasek in accordance with the terms of the Option Agreement, enabling us to exercise the initial twenty-five percent option and acquire a twenty-five percent interest in the Mineral Rights.
The Option Agreement provided that we may exercise the second twenty-five percent option, resulting in our acquisition of a fifty percent interest in the Mineral Rights, after fulfilling the following conditions within six months of the Effective Date:
� Payment of an additional $1,250,000 to Temasek, and
� Issuance of 2,000,000 additional shares of our common stock to Temasek.
On May 12, 2009, we entered into an agreement with Temasek to amend the Temasek Option Agreement (the "Amended Option Agreement") in order to revise the conditions required by us to exercise the second twenty-five percent option. Under the terms of the Amended Option Agreement, we may exercise the second twenty-five percent option, resulting in our acquisition of a fifty percent interest in the Mineral Rights, after fulfilling the following conditions:
� Issuance of 2,000,000 additional shares of our common stock to Temasek within six months from the Effective Date or as soon as practicable thereafter (which shares were issued in June 2009), and
� Payment within 12 months from the Effective Date of an additional $1,250,000 to Temasek plus interest at a rate of 5% per annum accruing from the date of the Amended Option Agreement to the date such payment is made.
On June 29, 2009, we issued 2,000,000 shares of common stock to Temasek and its designees as partial consideration for the exercise of the second twenty-five percent option to acquire an aggregate fifty percent interest in the Mineral Rights. We will be able to exercise the second twenty-five percent option, resulting in the acquisition of an aggregate fifty percent interest in the Mineral Rights, if on or before September 29, 2009, we pay $1,250,000 to Temasek, plus interest at a rate of 5% per annum accruing from May 12, 2009, the date of the Amended Option Agreement, to the date that payment is made. We will require additional financing in order to be able to exercise the second twenty-five percent option. There can be no assurance that we will be successful in securing the necessary funding to exercise the second twenty-five percent option. Provided we are successful in securing additional financing, we intend to exercise the second twenty-five percent option. In the event that we are unable to secure additional financing in order to be able to exercise the second twenty-five percent option in the time frame set forth above, our ownership interest in the Mineral Rights may be limited to our twenty-five percent interest.
We may exercise the third twenty-five percent option, resulting in our acquisition of a seventy-five percent interest in the Mineral Rights, after fulfilling the following conditions within twelve months of the Effective Date (September 29, 2009):
� Payment of an additional $3,000,000 to Temasek, and
� Issuance of 2,000,000 additional shares of our common stock to Temasek.
We will require additional financing in order to be able to exercise the third twenty-five percent option. There can be no assurance that we will be successful in securing the necessary funding to exercise the third twenty-five percent option. Provided we are successful in securing additional financing, we intend to exercise the third twenty-five percent option. In the event that we have exercised the second twenty-five percent option, but are unable to secure sufficient financing in order to be able to exercise the third twenty-five percent option in the time frame set forth above, our ownership interest in the Mineral Rights may be limited to a fifty percent interest.
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Table of Contents
We may exercise the fourth twenty-five percent option, resulting in our acquisition of a one hundred percent interest in the Mineral Rights, after fulfilling the following conditions within eighteen months of the Effective Date (March 29, 2010):
� Payment of an additional $5,000,000 to Temasek, and
� Issuance of 4,000,000 additional shares of our common stock to Temasek.
We will require additional financing in order to be able to exercise the fourth twenty-five percent option. There can be no assurance that we will be successful in securing the necessary funding to exercise the fourth twenty-five percent option. Provided we are successful in securing additional financing, we intend to exercise the fourth twenty-five percent option. In the event that we have exercised the third twenty-five percent option, but are unable to secure sufficient financing in order to be able to exercise the fourth twenty-five percent option in the time frame set forth above, our ownership interest in the Mineral Rights may be limited to a seventy-five percent interest.
Upon our fulfillment of the conditions set forth above resulting in our acquisition of a one hundred percent interest in the Mineral Rights, Temasek will hold its single share of Minera Mara��n in trust for our sole benefit and hold the share strictly in accordance with our instructions.
In the event that we acquired a one hundred percent interest in the Mineral Rights, Temasek is entitled to an annual 2.5% net returns royalty related to the Mineral Rights. However, if we pay Temasek $2,000,000 within ninety days of our acquisition of a one hundred percent interest in the Mineral Rights, Temasek will only be entitled to an annual 1.0% net returns royalty related to the Mineral Rights.
If we exercise the second twenty-five percent option, resulting in our acquisition of a fifty percent interest in the Mineral Rights, but we fail to acquire a one hundred percent interest in the Mineral Rights, the Option Agreement provides that we and Temasek will form a joint venture for the purpose of placing the Peru Property into commercial production. In the event that this condition is satisfied and we enter into a joint venture agreement with Temasek, our responsibilities under the joint venture would include developing a feasible mining project and all necessary facilities and Temasek shall retain a carried free interest in the mining rights. If we enter into a joint venture with Temasek, but do not develop a feasible mining project within three years of the Effective Date (September 29, 2011), we will be required to pay Temasek an advance minimum mining royalty of $500,000 per year, which will be deducted from Temasek's net return royalty on the Mineral Rights.
Proposed Exploration Program
Shortly after our acquisition of the Peru property in September 2008, we commenced the initial stages of our exploration and development program and have carried out the following activities:
� Completed an initial social base line study to document all surface rights owners and people resident in the project area;
� Implemented a community relations program to inform local communities of the project and what potential opportunities that may exist for community involvement in the implementation phases of the development program;
� Submitted a Declaraci�n de Impacto Ambiental to the Ministry of Mines and Energy in Peru and received approval to start the exploration;
� Completed the field work for the Evaluaci�n de Impacto Ambiental semidetallado which, if approved by the Peruvian Ministry of Mines & Energy, will allow us to undertake extensive drilling and bulk sampling programs;
. . .
AVEC Applies for Government Grants for Joint Ownership of Engine Production Facility in USA
* Press Release
* Source: Axial Vector Engine Corp.
* On Monday August 10, 2009, 5:34 am EDT
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DUBAI, UNITED ARAB EMIRATES--(Marketwire - 08/10/09) - Axial Vector Energy Corporation ("AVEC") (Pinksheets:AXVC - News) (Frankfurt:BAE1 - News) announced today that it has applied for Federal Grants and Loan funding to assist the co-ownership of an Engine and Generator production facility to be located in the USA.
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{"s" : "axvc.pk,bae1.f","k" : "c10,l10,p20,t10","o" : "","j" : ""}
The company is in negotiations with several domestic companies and various state governments on locations best suited for the factory. Numerous incentives and benefits are available to bring these USA developed 'ultra clean' technologies to commercial production.
Under the various guidelines for Government Funding, AVEC is especially well suited for acceptance due to its status of already having a production grade model and level 2 engineering package ready.
Sanjai Chhaunker AVEC President and CEO stated, "With our recent successful demonstration of our completed 'workhorse engine,' we expect rapid market acceptance in the USA where there is a huge demand for clean multi fuel power using much less fuel and producing almost no carbon footprint."
The demonstration in Virginia in July was powered by 'Palm Oil' only. No fossil fuel was used although the engine also uses Diesel, JP5, Kerosene and Natural Gas.
While multiple states are in the running for this factory, Indiana, Michigan and Virginia have all met the first level of qualifications. Using 2/3 less parts and 25% less fuel than conventional engines, the AVEC engines are an answer to many of the challenges facing the United States and all Governments.
One of the most important features of the double sided shaft AVEC engine is the ability to power a vehicle on one side of the engine while the other side powers a generator for on board internal and external power generation creating the ultimate self contained 'HYBRID Electric Vehicle,' which is simultaneously a large quantity portable electricity producer.
About Axial Vector Energy Corporation
Axial Vector Energy Corporation (AVEC) is a global solutions provider that owns, develops, invest in and licenses revolutionary technologies including, internal combustion engine and electric power generator technologies that have unlimited potential in military, industrial and commercial applications. AVEC and its partners are positioned to become unrivalled leaders in international engine and energy markets with technologies that produce more efficient, cost effective, environmentally sensitive and versatile solutions for use in a wide variety of important applications around the world.
Forward-Looking Statements
This press release may be deemed to contain forward-looking information. Any forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements, including statements as to industry trends, future economic performance, anticipated profitability, anticipated revenues and expenses, and products or service line growth, may be significantly and materially impacted by certain risks and uncertainties, including, but not limited to, failure to meet operating objectives or to execute the operating plan, completion, and other economic factors. Additional risks and uncertainties are described in the Company's public filings with the Securities and Exchange Commission.
To be added to the Company's email distribution for future news releases, please send your request to inquiry@axialvectorenergy.com.
marketwire
Axial Vector Energy Corporation JV Partner, Petrosonics LLC, Awarded Patent in Mexico, the World's 7th Largest Crude Oil Producer
* Press Release
* Source: Axial Vector Engine Corp.
* On Thursday August 6, 2009, 6:25 am EDT
DUBAI, UNITED ARAB EMIRATES--(Marketwire - 08/06/09) - Axial Vector Energy Corporation ("AVEC") (Pinksheets:AXVC - News) (Frankfurt:BAE1 - News) announced today that its PETRO AVEC JV partner, Petrosonics LLC, was recently awarded a patent in Mexico, protecting the process of removing sulfur from all types of crude oil fractions through sonic energy, oxidation and the removal of all of the oxidized sulfur through hydrotreatment. The patent will remain in force for 20 years.
In 2008, Mexico was the seventh-largest producer of oil in the world. The country produced an average of 3.19 million barrels per day (bbl/d).
According to the Oil and Gas Journal (OGJ), Mexico had 10.5 billion barrels of proven oil reserves as of January 1, 2009. Most reserves consist of heavy crude oil varieties, with a specific gravity of less than 25� API. The largest concentration of reserves occurs offshore in the southern part of the country, especially in the Campeche Basin. There are also sizable reserves in Mexico's onshore basins in the northern parts of the country.
Mexico also has six refineries, all operated by state owned Pemex, with a total refining capacity of 1.5 million bbl/d. The largest facility in the country is the 330,000-bbl/d Salina Cruz facility. Outside of Mexico, Pemex controls 50 percent of the 334,000-bbl/d Deer Park refinery in Texas. In order to reduce its imports of refined products, Pemex plans to build at least one additional refinery in Mexico. The company announced in early 2009 that it plans to build a new, 300,000-bbld refinery, which would have facilities to better process the country's heavy crude oil production. Construction is slated to begin by the end of 2009.
PETRO AVEC CEO Dr. Mark Cullen stated, "Mexico (Pemex) is the third largest exporter of oil to the U.S., behind Canada and Saudi Arabia. Pemex is also the 10th largest oil company in the world in terms of revenue and ranks 42nd on the list of Fortune 500 companies. Its proximity to the United States, co-investment in the United States, new refinery construction in Mexico and work with heavy crude oil make it an ideal candidate for our technology. Now that patent protection is in place, we hope to be talking to and subsequently working with Pemex in the near future."
About PETRO-AVEC LLC
PETRO-AVEC LLC is a joint venture between AVEC and Petrosonics LLC to develop, finance and market Petrosonics sulfur removal technology globally. The joint venture is owned 60% by Petrosonics LLC and 40% by AVEC.
About Petrosonics, LLC
Petrosonics, LLC is a privately held, U.S. based oil refining and production technology company. Petrosonics' patented products and services utilize high power ultrasound energy in order to reduce sulfur, nitrogen, and trace metals in refinery intermediates and product streams. Intermediates and product streams receiving the Petrosonics treatment show reductions in oil density and viscosity, reduced hydrogen use/loss, and increases in API specific gravity and volume. The proprietary Petrosonics technology has additional application in treating and/or pretreating sour crude oils. Petrosonics was formed in 2001 by Mark Cullen, M.D. Dr. Cullen was previously the President and CEO of SulphCo. Today, Petrosonics has acquired and continues to expand its patent portfolio for all of the significant intellectual property associated with ultrasound assisted oxidative desulphurization of oil fractions and the upgrade and desulphurization of crude oil.
About Axial Vector Energy Corporation
Axial Vector Energy Corporation (AVEC) is a global solutions provider that owns, develops, invests in and licenses revolutionary technologies including, internal combustion engine and electric power generator technologies that have unlimited potential in military, industrial and commercial applications. AVEC and its partners are positioned to become unrivalled leaders in international engine and energy markets with technologies that produce more efficient, cost effective, environmentally sensitive and versatile solutions for use in a wide variety of important applications around the world.
Forward-Looking Statements
This press release may be deemed to contain forward-looking information. Any forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements, including statements as to industry trends, future economic performance, anticipated profitability, anticipated revenues and expenses, and products or service line growth, may be significantly and materially impacted by certain risks and uncertainties, including, but not limited to, failure to meet operating objectives or to execute the operating plan, completion, and other economic factors. Additional risks and uncertainties are described in the Company's public filings with the Securities and Exchange Commission.
Axial Vector Energy Announces Appointment of New Chairman of the Board of Directors
* Press Release
* Source: Axial Vector Energy Corporation
* On Monday August 3, 2009, 6:15 am EDT
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DUBAI, United Arab Emirates--(BUSINESS WIRE)--Axial Vector Energy Corporation ("AVEC") (Pink Sheets:AXVC - News)(Frankfurt:BAE1 - News) today announced the appointment of Mr. Samuel Higgins to the position of Chairman of the Board of Directors, filling a vacancy resultant from the departure of Mr. Ahmed Khalifa. As noted in AVEC's SEC Form 8K on June 23, 2009, Mr. Khalifa resigned when Global Operations (GBS LLC) purchased all of the shares held by Mr. Khalifa’s firm, Emirates International Capital Advisory. Mr. Khalifa remains committed to AVEC as a private shareholder.
Regarding the appointment, AVEC President and CEO Sanjai Chhaunker remarked, "We are extraordinarily pleased to have persuaded Mr. Higgins to return from retirement. Sam is the firm's founder, one of the largest shareholders and former CEO. No one else knows AVEC, its history, governance, the product line, the client market and the path forward as well as Mr. Higgins."
Stated Mr. Higgins, "As a shareholder seeking rapid growth in shareholder value, I'm particularly gratified that our products are performing so well, that mass production is just around the corner, and that the firm is poised to return to a fully reporting status and, hopefully, listing on a senior exchange and index. Our plan going forward involves reviewing all products, agreements and opportunities, a significant amount of licensing in the near term, accompanied by rollout and maturation of our previously announced JVs. In the near term, I'll be travelling extensively to talk to future licensees, our JV partners, institutional investors and attendees at renewable energy conferences. We have a lot of work to do in a short period of time but I believe all of the major obstacles to profitability are behind us."
About Axial Vector Energy Corporation
Axial Vector Energy Corporation (AVEC) is a global solutions provider that owns, develops, invest in and licenses revolutionary technologies including, internal combustion engine and electric power generator technologies that have unlimited potential in military, industrial and commercial applications. AVEC and its partners are positioned to become unrivalled leaders in international engine and energy markets with technologies that produce more efficient, cost effective, environmentally sensitive and versatile solutions for use in a wide variety of important applications around the world.
Forward-Looking Statements
This press release may be deemed to contain forward-looking information. Any forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements, including statements as to industry trends, future economic performance, anticipated profitability, anticipated revenues and expenses, and products or service line growth, may be significantly and materially impacted by certain risks and uncertainties, including, but not limited to, failure to meet operating objectives or to execute the operating plan, completion, and other economic factors. Additional risks and uncertainties are described in the Company's public filings with the Securities and Exchange Commission.
To be added to the Company's email distribution for future news releases, please send your request to inquiry@axialvectorenergy.com.
link to a post by a person who went to the demo. http://messages.finance.yahoo.com/Stocks_(A_to_Z)/Stocks_A/threadview?m=tm&bn=28885&tof=1&rt=2&frt=2&dir=b&ri=1507&n=AFe9Iq.RDWLeyKhPqz4Acg--
Axial Vector Energy Corporation Announces Successful Demonstration of Engine Running Non-Fossil Fuel
* Press Release
* Source: Axial Vector Energy Corporation
* On Wednesday July 15, 2009, 8:18 am EDT
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DUBAI, United Arab Emirates--(BUSINESS WIRE)--Axial Vector Energy Corporation ("AVEC") (Pink Sheets: AXVC - News) (Frankfurt: BAE1 - News) announced today a successful performance demonstration of its engine running on palm oil (http://en.wikipedia.org/wiki/Palm_oil), a non-fossil fuel. The demonstration was a required milestone in the recently announced licensing agreement with Premier Group (http://premiergroup.com.my), and should lead to further milestone payments from Premier Group to Axial Vector Energy per its agreement.
The demonstration was significant in that it proved a greater capability for palm oil producing nations to generate power using a very inexpensive native alternative to imported conventional fuels. It was also useful for showing that certain biofuel feedstocks, such as palm oil, can be used producing significantly less CO2 emissions in AVEC engines than conventional fossil fuels in low emission conventional engines.
In addition to running less expensive alternative fuels, AVEC engines are lighter and smaller than conventional engines, incorporate approximately 80% fewer parts than conventional engines, require less maintenance, have a high power-to-weight ratio and are less costly to produce and operate. They are also considerably cleaner with fewer emissions; are capable of using multiple fuel types, including diesel, JP5 and JP8 fuels, kerosene, bio-diesels, ethanol, and other blends of these fuels; and can be converted to burn natural gas or propane. The engines can be controlled electronically, in remote areas, with remote diagnostics, alone or in combination with generator sets.
AVEC also successfully demonstrated its new high-power "Axial Flux" coreless 98.5% efficient electric generator. This was significant since licensee Premier Group has a first right of refusal to license AVEC electric motors or coreless generators, and may opt to produce its own production facility.
Sanjai Chhaunker, President and CEO stated, "This successful demonstration of our engines using palm oil only is a long awaited milestone. We will now proceed with the licensing and market awareness programs presenting the value of our products to the world's attention."
About Axial Vector Energy Corporation
Axial Vector Energy Corporation (AVEC) is a global solutions provider that owns, develops, invest in and licenses revolutionary technologies including, internal combustion engine and electric power generator technologies that have unlimited potential in military, industrial and commercial applications. AVEC and its partners are positioned to become unrivalled leaders in international engine and energy markets with technologies that produce more efficient, cost effective, environmentally sensitive and versatile solutions for use in a wide variety of important applications around the world.
Forward-Looking Statements
This press release may be deemed to contain forward-looking information. Any forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements, including statements as to industry trends, future economic performance, anticipated profitability, anticipated revenues and expenses, and products or service line growth, may be significantly and materially impacted by certain risks and uncertainties, including, but not limited to, failure to meet operating objectives or to execute the operating plan, completion, and other economic factors. Additional risks and uncertainties are described in the Company's public filings with the Securities and Exchange Commission.
To be added to the Company's email distribution for future news releases, please send your request to inquiry@axialvectorenergy.com.
last trade was mine, don't know whether to laugh or cry.
businesswire
AVEC Updates Global Investment Community on July 14th Technology Presentation
* Press Release
* Source: Axial Vector Energy Corporation
* On Monday July 6, 2009, 4:47 am EDT
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DUBAI, United Arab Emirates--(BUSINESS WIRE)--Axial Vector Energy Corporation ("AVEC") (Pink Sheets:AXVC - News)(Frankfurt:BAE1 - News) announced today its President and CEO, Sanjai Chhaunker, has posted an update letter to the global investment community on AVEC’s website. Mr. Chhaunker stated, "The Palm Oil shipped from Kuala Lumpur, Malaysia to our facility in Virginia from our first licensee Premier Group has arrived and is 'good to go'. We expect to be able to make major announcements at the presentation and look forward to presenting our family of technologies to new customers and investors from around the world."
About Axial Vector Energy Corporation
Axial Vector Energy Corporation (AVEC) is a global solutions provider that owns, develops, invests in and licenses revolutionary technologies.
Forward-Looking Statements
From time to time, the Company may issue forward-looking statements, which involve risks and uncertainties. This statement may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as actual results could differ and any forward-looking statements should be considered accordingly.
To be added to the Company's email distribution for future news releases, please send your request to inquiry@axialvectorenergy.com
SOURCE: Axial Vector Energy Corporation
500 holes, although shallow, is quite a project for one rig between now and 2011. Perhaps more rigs will come on line. Drilling each hole should be quick but it's hard to tell how difficult relocation between drill sites will be. Hopefully when some % of the holes are drilled enough data will be available to commit for the first dredge. If current estimates of 48,000 oz a year (X $900 an oz = $43M) for the pilot mining in 2011 prove correct the project should rapidly become self sustaining.
Any ideas on how CIMN, AZNG and River Run each fit into the picture?
I hope we start getting enough flow of information to get some volume.
In my notes from way back I have O/S 74M and float 59 M. Any idea if these numbers are right? Seem very low!
Press Release Source: Axial Vector Energy Corporation
Global Operations to Serve as Advisor to AVEC
* On Tuesday June 16, 2009, 8:50 am EDT
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DUBAI, United Arab Emirates--(BUSINESS WIRE)--Axial Vector Energy Corporation ("AVEC") (Pink Sheets:AXVC - News)(Frankfurt:BAE1 - News) announced today that Global Operations LLC (www.global-ocs.com) has agreed to serve as advisor to Axial Vector. In this capacity they will provide strategic planning and financial access to investors.
Paul Farah, Global Chairman and Group CEO stated, "The existing technologies, current Joint Ventures and planned acquisitions makes AVEC an ideal company at the right time to introduce to Gulf Investors and License on a Global basis. Global's reach extends also towards the North African and Asian markets. The Gulf countries, particularly the United Arab Emirates, are always striving to be at the forefront of development that is why we are very interested in long term relations with companies such as AVEC who are at the forefront of technological developments."
Sanjai Chhaunker, AVEC President and CEO stated, "Having the Global team of finance, legal and accounting expertise will allow us a Global footprint soon for our technologies and accomplishments."
About Axial Vector Energy Corporation
Axial Vector Energy Corporation (AVEC) is a global solutions provider that owns, develops, invests in and licenses revolutionary technologies.
About Global Operations LLC
Global Operations is a regionally based Advisory, Intermediation and Capital Management company whose principals' previous company grew from $ 2 billion to $ 7 billion assets under management in under three years.
Forward-Looking Statements
From time to time, the Company may issue forward-looking statements, which involve risks and uncertainties. This statement may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as actual results could differ and any forward-looking statements should be considered accordingly.
To be added to the Company's email distribution for future news releases, please send your request to inquiry@axialvectorenergy.com
SOURCE: Axial Vector Energy Corporation
Contact:
Axial Vector Energy Corporation
971 4 887 5351
inquiry@axialvectorenergy.com
www.axialvectorenergy.com
or
Redwood Consultants, LLC
Investor Contact
Jens Dalsgaard (415) 884-0348
www.PetroAvec.com
nice 25K at .0375 and 1,283,330 volume by 10:30 Atlantic Time
looks to me like someone has confirmed the completion of the deal. Nice to have a three bagger in this market. Hope for more from here!
should not ARET be on everyone's radar and we are down to two posts a day. WOW .0375.
Press Release Source: Axial Vector Energy Corporation
AVEC Sells First License to Produce Engines in Malaysia with Premier Group of Kuala Lumpur
* On Tuesday June 9, 2009, 7:16 am EDT
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DUBAI, United Arab Emirates--(BUSINESS WIRE)--Axial Vector Energy Corporation ("AVEC") (Pink Sheets: AXVC - News) (Frankfurt: BAE1 - News) announced today it has sold its first license to produce its multi fuel "work horse engines" in Malaysia.
Premier Group (http://premiergroup.com.my) with Headquarters in Kuala Lumpur, Malaysia signed the exclusive license agreement, which covers Malaysia, Indonesia and parts of Southeast Asia and has agreed to produce a minimum of 5,000 workhorse engines to be configured for palm oil use only. The agreement calls for a non-refundable fee of $500,000 dollars as well as a durability pilot site for 5,000 hours using palm oil, which is funded also by Premier.
On completion of the durability testing, Premier is obligated to provide contract production in SE Asia for the engines or may opt to produce its own production facility.
Further milestone payments of $500,000 at completion of technology transfer to the production facility and $1,000,000 at start up of the production facility and an additional $1,000,000 when the first engine is completed.
After the first 500 engines are produced, AVEC will receive $2,000 per engine royalty on a perpetual basis. AVEC has agreed to provide the first right of refusal to purchase the continuing royalty should it decide to sell its forward revenue stream. As part of this agreement, Premier shall also receive a first right of refusal to license AVEC electric motors or coreless generators after the initial payments of $3,000,000 are complete.
Rahim Mahmud, Managing Director of Premier Group, stated, "We are very pleased to be the first licensee to be able to produce this extraordinary engine. The enormous torque band allowing operation without a transmission and its ability to run on Palm Oil only or many other fuels creates an ideal situation for our country and most of Southeast Asia. As the world's largest producer of Palm Oil, our country has enormous ability to use these engines for very low cost power using "non fossil fuel". We believe this sets the standard for the future of clean power without hydrocarbons and we will be bringing officials of the Malaysian Government to the AVEC Technology Demonstration in Virginia Beach, USA on July 14th."
Ahmed Khalifa, AVEC Chairman, stated, "This license and the revenue received under it represent what we believe will be the first of many revenue streams in 2009. Mr. Mahmud's background in Oil and Gas and their company's ability to deploy the engines using value added Palm Oil will be very profitable for all and provide a springboard of commercial credibility which can then be expanded to other areas of the world."
About Axial Vector Energy Corporation
Axial Vector Energy Corporation (AVEC) is a global solutions provider that owns, develops, invest in and licenses revolutionary technologies including, internal combustion engine and electric power generator technologies that have unlimited potential in military, industrial and commercial applications. AVEC and its partners are positioned to become unrivalled leaders in international engine and energy markets with technologies that produce more efficient, cost effective, environmentally sensitive and versatile solutions for use in a wide variety of important applications around the world.
Forward-Looking Statements
From time to time, the Company may issue forward-looking statements, which involve risks and uncertainties. This statement may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as actual results could differ and any forward-looking statements should be considered accordingly.
To be added to the Company's email distribution for future news releases, please send your request to inquiry@axialvectorenergy.com
Contact:
Axial Vector Energy Corporation
Phone: 971 4 887 5351
inquiry@axialvectorenergy.com
or
Redwood Consultants, LLC
Investor Contact
Jens Dalsgaard (415) 884-0348
Jebel Ali Free Zone
LOB21- F07
Dubai, United Arab Emirates
www.axialvectorenergy.com
www.PetroAvec.com
WOW .0185 direct to .02.
122,000 @.018 in last 3 minutes of trading
Press Release Source: Axial Vector Energy Corporation
PETRO AVEC to Present Oxidative Desulphurization and Heavy Oil Upgrade Technology to 'The World Global Refining Summit' in Houston, Texas
* On Wednesday June 3, 2009, 8:44 am EDT
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DUBAI, United Arab Emirates--(BUSINESS WIRE)--Axial Vector Energy Corporation ("AVEC") (Pink Sheets:AXVC - News) (Frankfurt:BAE1 - News) announced today that its Joint Venture Company , PETRO AVEC has been invited and will present its technology at the Global Refining Strategies Conference in Houston, Texas on October 29-30, 2009.
The Global Refining Strategies Summit 2009 brings together the most knowledgeable and influential refining leaders from across the globe. It is the world's showcase to explore dynamic strategies and benchmark the latest technologies to overcome the economic and environmental issues facing the world’s refiners. To learn more visit www.globalrefiningsummit.com .
Dr. Mark Cullen inventor and Managing Partner stated "With our global patent footprint now essentially complete, we will be introducing our sulphur removal and oil upgrade technology and results to the world. Third party data of our accomplishments as well as mass commercial deployment will also be presented."
Ahmed Khalifa stated, "This invitation underlines the importance of efficient Sulphur removal technology and being the pioneers in our specialized field of oxidative desulphurization and heavy crude upgrade. We are pleased to accept the invitation for a presentation to showcase our technology to the oil industry professionals who will be present at this important event."
About PETRO-AVEC LLC
PETRO-AVEC LLC is a joint venture between AVEC and Petrosonics LLC to develop; finance and market Petrosonics sulfur removal technology globally. The joint venture is owned 60% by Petrosonics LLC and 40% by AVEC. Dr. Cullen was previously President and CEO of Sulphco (AMEX SUF).
About Axial Vector Energy Corporation
Axial Vector Energy Corporation (AVEC) is a global solutions provider that owns, develops, invest in and licenses revolutionary technologies including, internal combustion engine and electric power generator technologies that have unlimited potential in military, industrial and commercial applications. AVEC and its partners are positioned to become unrivalled leaders in international engine and energy markets with technologies that produce more efficient, cost effective, environmentally sensitive and versatile solutions for use in a wide variety of important applications around the world.
Forward-Looking Statements
From time to time, the Company may issue forward-looking statements, which involve risks and uncertainties. This statement may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as actual results could differ and any forward-looking statements should be considered accordingly.
To be added to the Company's email distribution for future news releases, please send your request to inquiry@axialvectorenergy.com
Contact:
Axial Vector Energy Corporation
Phone: 971 4 887 5351
inquiry@axialvectorenergy.com
or
Redwood Consultants, LLC
Investor Contact
Jens Dalsgaard (415) 884-0348
www.axialvectorenergy.com
www.PetroAvec.com
No GOOD news today and my purchase of yesterday turns into a rapidly shrinking white elephant.