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Happy Thanksgiving Folks.
WAVX .79 potential delisting play. 52wk Range: 0.64 - 2.95
http://biz.yahoo.com/e/080430/wavx8-k.html
Alternative Energy Resources
Water Fuel Store
Shop for the HHO generator, generator kits, fuel heaters and more.
HHO Generator
http://www.alternative-energy-resources.net/water-fuel-store.html
Storm Cat Energy Corporation Provides Corporate Update
· Acquisition of 14,000 Undeveloped Net Acres in Powder River Basin
· Fayetteville Pipeline Start-up Underway
· 2008 Fayetteville Drilling Underway
· Additional Powder River Basin Hedging
· Corporate Presentation for Howard Weil Conference Available on Website
DENVER, Colorado and CALGARY, Alberta – April 7, 2008 – Storm Cat Energy Corporation (AMEX: SCU; TSX: SME) today provided a corporate update detailing developments on the company’s acreage in Wyoming’s Powder River Basin (PRB) and Arkansas’ Fayetteville Shale play.
Powder River Basin
Storm Cat has entered into agreement to purchase approximately 14,000 undeveloped net acres in Sheridan County, Wyoming for approximately $5.6 million. The acquisition acreage is located in and around our current operations in the PRB.
The acquisition increases our PRB acreage position to 50,000 net acres. The acquisition adds an additional two years of drilling inventory in the PRB, increasing our total drilling inventory to four years based on current development plans. Furthermore, our internal engineers estimate that the acquisition adds an estimated 50 Billion cubic feet (Bcf) of resource potential to our approximately 60 Bcf of existing proved, probable and possible (3P) reserves in the PRB. The transaction is expected to close on or about April 15, 2008 and will be funded through an amendment to the Company’s existing credit facility.
Fayetteville Shale
Construction of the low pressure and high pressure pipelines is essentially complete. Start-up of the pipeline connecting our Fayetteville acreage to the Ozark interstate pipeline is underway. We are currently supplying gas from our operated wells to purge and pack the line for sales. We expect the pipeline to be fully operational in mid-April.
In addition, we have commenced our 2008 drilling program on our Fayetteville Shale acreage. We have now spudded the first five of our 12 well program for 2008.
Hedging
Taking advantage of stronger prices in the Rockies, we recently layered on additional Colorado Interstate Gas (“CIG”) indexed-hedges. We now have 80% of our currently forecasted 2008 and 2009 proved developed production in the Powder River Basin hedged at average weighted CIG prices of $7.02/million British thermal units (MMBtu) and $7.22/MMBtu, respectively.
Corporate Presentation
Storm Cat will present at the 36 th Annual Howard Weil Energy Conference in New Orleans, Louisiana on Tuesday April 8 th and Wednesday April 9 th , 2008. The conference is not being webcast, however a copy of the Company’s presentation will be available on Storm Cat’s website, www.stormcatenergy.com.
About Storm Cat Energy
Storm Cat Energy is an independent oil and gas company focused on the exploration, production and development of large unconventional gas reserves from fractured shales, coal beds and tight sand formations and, secondarily, from conventional formations. The Company has producing properties in Wyoming's Powder River Basin and Arkansas' Arkoma Basin and exploration and development acreage in Canada. The Company's shares trade on the American Stock Exchange under the symbol "SCU" and in Canada on the Toronto Stock Exchange under the symbol "SME."
Forward-looking Statements
This press release contains certain “forward-looking statements”, as defined in the United States Private Securities Litigation Reform Act of 1995, and within the meaning of Canadian securities legislation, relating to additional reserves upon completion of the acquisition of the PRB acreage, the completion of the proposed acquisition, proposed drilling activity and infrastructure improvements affecting the Company’s operations. Forward-looking statements are statements that are not historical facts; they are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” ”projects,” “aims,” “potential,” “goal,” “objective,” “prospective,” and similar expressions, or that events or conditions “will,” “would,” “may,” “can,” “could” or “should” occur. Forward-looking statements are based on the beliefs, estimates and opinions of Storm Cat’s management on the date the statements are made and they involve a number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Storm Cat undertakes no obligation to update these forward-looking statements if management’s beliefs, estimates or opinions, or other factors, should change. Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include, but are not limited to, the volatility of natural gas prices, the possibility that exploration efforts will not yield economically recoverable quantities of gas, accidents and other risks associated with gas exploration and development operations, the risk that the Company will encounter unanticipated geological factors, the Company’s need for and ability to obtain additional financing, the possibility that the Company may not be able to secure permitting and other governmental clearances necessary to carry out the Company’s exploration and development plans, and the other risk factors discussed in greater detail in the Company’s various filings on SEDAR (www.sedar.com) with Canadian securities regulators and its filings with the U.S. Securities and Exchange Commission, including the Company’s Form 10-K for the fiscal year ended December 31, 2007 .
The SEC has generally permitted oil and gas companies, in filings made with the SEC, to disclose only proved reserves that a company has demonstrated by actual production or conclusive formation tests to be economically and legally producible under existing economic and operating conditions. We use the terms "probable" and "possible" to describe volumes of unproved reserves potentially recoverable through additional drilling or recovery techniques that the SEC's guidelines may prohibit us from including in filings with the SEC. These estimates are by their nature more speculative than estimates of proved reserves and accordingly are subject to substantially greater risk of being actually realized by the company. While we believe our calculations of unproved drill sites and estimation of unproved reserves have been appropriately risked and are reasonable, such calculations and estimates have not been reviewed by third party engineers or appraisers.
--------------------------------------------------------------------------------
Company Contact:
William Kent
Director,
Investor Relations
Phone: 303-991-5070
www.stormcatenergy.com
Throwing BRICs at the Market
The Market's Mood
WHEN IT COMES TO EARLY warning systems in the stock market there are as many varieties of canaries in the coal mine as there are analysts. Some follow the Nasdaq's bellwethers. Others watch General Electric. But in the truly global marketplace, leadership by the four international growth engines -- Brazil, Russia, India and China (BRIC) -- might be a better indicator of things to come.
Judging by the performance of the Claymore BNY BRIC exchange-traded fund (ETF), which is based on these four markets, the global marketplace has not melted down. However, conditions here are different than they have been over the past 18 months, and when they first changed last October, the domestic stock market peaked (see Chart 1). The BRIC ETF has flashed a warning and, therefore, we should be on high alert.
Chart 1
Before the statisticians out there start flaming me via e-mail, I realize that there is far too little history to make any firm conclusions about how markets perform when the BRIC countries are in the lead. However, since the beginning of trading for the BRIC ETF in 2006, the period starting in October was the first time that the ETF was not pulling the rest of the world higher. Something is different although mathematically we cannot yet prove it.
Chart 1 shows both the absolute price of the BRIC ETF and its relative performance versus the Standard & Poor's 500. For the past five months the relative performance plot has been flat, meaning that both the ETF and the S&P 500 have swung higher and lower together. There was no advantage of owning one over the other.
True, the rather large trading range in the relative performance plot does indicate that the BRIC ETF is more volatile. It loses more in down markets but rallies more in up markets. But the bottom line here is that over the past five months there has been no net price advantage to be had.
We can identify this as a trading range and in that context an upside breakout would be a rather positive indicator for the overall stock market. Conversely, a downside break would be a negative.
Note how the price of the ETF is in a technical pattern of its own, called a flag, so named for its resemblance to a flag flying from a flagpole. It is simply a short-term trend lower correcting a longer-term trend higher. To end the correction and get the rally back on track, the BRIC ETF would have to trade above the pattern's upper border near 52.
But it is not there yet, and we cannot assume that the breakout will actually occur. A move below 45 would give it its lowest close since September, and that would suggest further downside to come.
Let's drill down to see if the four BRIC markets are signaling the same thing or if any are going their own way. Rather than just go over each chart, I'll cut to the chase and say that China and India are in declining trends and seriously underperforming the U.S. It is Brazil that has been pulling the weight of the complex, and the iShares MSCI Brazil Fund ETF shows it clearly (see Chart 2).
Chart 2
The Brazil ETF has not only recovered from the global meltdown in January but has even notched a marginal new all-time high this month. This canary was still singing quite loudly, at least it was until last week.
On Feb. 29, it dropped sharply at the open to break the short-term trendline that had guided it higher since January. Clearly, it was not a good sign that the Brazil ETF was sold hard when it reached new high ground. Supply surged as sellers emerged from seemingly everywhere to take advantage of high prices. (Disclosure: I recommended a short sale at that time to my own clients.)
To be sure, there has been no downside follow-through here and it is entirely possible that prices can climb back above resistance at the round number of 88.50 for a true breakout move. Given that the Brazil ETF is still solidly outperforming the U.S., a breakout would be a positive for all markets. But if it does start to weaken in both absolute terms and relative to the U.S., then we might have to look at domestic markets with a much more bearish eye.
The conclusion is that Brazil is now the market of last resort. It is probably a good idea to be standing a lot closer to the entrance of the coal mine than everyone else right now just in case this canary keels over.
Also read Getting Technical, Sector Alert:
"How High Commodities?" March 3, 2008.
XDSL .08 on news
mPhase/AlwaysReady to Demo Breakthrough Battery Technology
Tuesday February 26, 2:15 pm ET
First Ever Public Demo on April 3rd, 2008
LITTLE FALLS, NJ--(MARKET WIRE)--Feb 26, 2008 -- mPhase/Always Ready, Inc. (OTC BB:XDSL.OB - News) announced today that it will be demonstrating for the first time to the public its breakthrough battery technology. A live demonstration will be taking place on Thursday, April 3rd, 2008 at 9:00 am at AJ Maxwell's 57 W. 48th Street in New York City. All interested parties are welcome.
The mPhase/Always Ready battery is based on a patented electrowetting phenomenon which allows for a potentially infinite shelf life by mixing "Power on Command." The battery has recently been successfully field tested by the U.S. Army.
Other advantages of the battery include:
-- Green (environmentally friendly)
-- Potentially infinite shelf life
-- Lower Manufacturing cost
-- Power Management functionality
-- Faster ramp to power
-- Flexible arrayed configurations
-- Versatile packaging
ADVERTISEMENT
Please contact Gerard Adams, mPhase Director of Investor Relations, for a personal invitation.
About mPhase/AlwaysReady, Inc.
mPhase Technologies Inc. (OTC BB:XDSL.OB - News), through its wholly owned subsidiary AlwaysReady, Inc., is focused on developing and commercializing a new battery technology based on a well patented phenomenon known as electrowetting which provides a unique way to store energy and manage power that will revolutionize the battery industry.
Safe Harbor Statement
MAILER CIVY China Ivy School, Inc. is the newest addition to our "Featured Companies" link.
CIVY is a fully reporting and fully audited OTCBB. Members can view their recent filings and financials on http://www.pinksheets.com/pink/quote/quote.jsp?symbol=civy
CIVY is currently trading at .10 x .11 and Bloomfield Investment Club is of the opinion that we will see heavy gains over the next couple of months.
As we promised we are focusing on "emerging market" plays. We are bringing you companies with real revenues and in many cases real profits.
China Ivy School, Inc. is a private education institution located in the city of Suzhou, Jiangsu province of China. Organized under the law of China, China Ivy School, Inc. has educational accreditations from Jiangsu Educational Committee, Suzhou Municipal Education Bureau, and the Suzhou Education Committee. As of September 30, 2006, China Ivy School had a cumulative enrollment of 1,910 students within their Kindergarten, Elementary, Junior High, and High School.
CIVY is one of only two ways to participate in the growing private education sector within a Chinese economy that has shown robust growth recently. The other play in the sector is New Oriental Education & Technology Group (NYSE: EDU; $43.00).
To learn more about CIVY log onto our website at www.bloomfieldinvestmentclub.com and go to the "Featured Company" link
DRYS looking good
NICE job on IDMI yesterday WOWeeeee
Lone ranger story youtube
US Housing Crash Continues
It's A Terrible Time To Buy
Why?
Prices still disconnected from fundamentals. House prices are still far beyond any historically known relationship to rents or salaries. Yearly rents are 3% of purchase price. Mortgage rates are 6.5%, so it costs more than twice as much to borrow money to buy a house than it does to rent the same thing. Worse, total owner costs including taxes, maintenance, and insurance are about 9%, which is three times the cost of renting. Salaries cannot cover mortgages. Anyone who buys now will suffer losses immediately, and for the next several years at least.
Buyers borrowed too much money and cannot pay the interest. Now there are mass foreclosures, and senators are talking about taking your money to pay for your neighbor's McMansion, even though no one in the US has been made homeless by foreclosure. In fact, forclosed owners end up far better off: they go reap large savings every month, since it costs less than half as much money in rent as they were paying to "own" the very same thing.
Banks happily loaned whatever amount borrowers wanted as long as the banks could then sell the loan, pushing the risk onto Fannie Mae (ultimately taxpayers) or onto buyers of mortgage-backed bonds. Now that it has become clear that a trillion dollars in mortgage loans will not be repaid, Fannie Mae is under pressure not to buy risky loans and investors do not want mortgage-backed bonds. This means that the money available for mortgages is falling, and house prices will keep falling, probably for 5 years or more. This is not just a subprime problem. All mortgages will be harder to get.
A return to traditional lending standards means a return to traditional prices, which are far below current prices.
Interest rates increases. When rates go from 5% to 7%, that's a 40% increase in the amount of interest a buyer has to pay. House prices must drop proportionately to compensate. The housing bust still has a very long way to go.
For example, if interest rates are 5%, then $1000 per month ($12,000 per year) pays for an interest-only loan of $240,000. If interest rates rise to 7%, then that same $1000 per month pays for an interest-only loan of only $171,428.
Even if the Fed does lower rates, all those adjustable mortgages will go up anyway, because they will adjust upward from the low initial "teaser" rate to the current rate. Bush's plan to freeze teaser rates just means that banks will stop lending entirely, because they cannot be sure that legal contracts will be honored.
Extreme use of leverage. Leverage means using debt to amplify gain. Most people forget that losses get amplified as well. If a buyer puts 10% down and the house goes down 10%, he has lost 100% of his money on paper. If he has to sell due to job loss or an interest rate hike, he's bankrupt in the real world.
It's worse than that. House prices do not even have to fall to cause big losses. The cost of selling a house is 6%. On a $300,000 house, that's $18,000 lost even if prices just stay flat. So a 4% decline in housing prices bankrupts all those with 10% equity or less.
Shortage of first-time buyers. High house prices have been very unfair to new families, especially those with children. It is literally impossible for them to buy at current prices, yet government leaders never talk about how lower house prices are good for most people, instead preferring to sacrifice American families to make sure bankers have plenty of debt to earn interest on. Every "affordability" program has the effect of driving prices higher and locking out more middle-class people. To really help Americans, Fannie Mae and Freddie Mac should be completely eliminated.
Surplus of speculators. Nationally, 25% of houses bought the last few years were pure speculation, not houses to live in, and the speculators are going into foreclosure in large numbers now. Even the National Association of House Builders admits that "Investor-driven price appreciation looms over some housing markets."
Fraud. It has become common for speculators take out a loan for up to 50% more than the price of the house he intends to buy. The appraiser goes along with the inflated price, or he does not ever get called back to do another appraisal. The speculator then pays the seller his asking price (much less than the loan amount), and uses the extra money to make mortgage payments on the unreasonably large mortgage until he can find a buyer to take the house off his hands for more than he paid. Worked great during the boom. Now it doesn't work at all, unless the speculator simply skips town with the extra money.
Baby boomers retiring. There are 77 million Americans born between 1946-1964. One-third have zero retirement savings. The oldest are 62. The only money they have is equity in a house, so they must sell.
Huge glut of empty housing. Builders are being forced to drop prices even faster than owners. Builders have huge excess inventory that they cannot sell, and more houses are completed each day, making the housing slump worse.
The best summary explanation, from Business Week: "Today's housing prices are predicated on an impossible combination: the strong growth in income and asset values of a strong economy, plus the ultra-low interest rates of a weak economy. Either the economy's long-term prospects will get worse or rates will rise. In either scenario, housing will weaken."
Next Page: Who disagrees that house prices will continue to fall?
And a little comic relief, courtesy of Rick LaForce, RickL@ci.union-city.ca.us.
another one from Rick (500K)
From anonymous: The Mexican Dream is to escape from debt peonage. The American Dream is to get into debt peonage.
Lowering interest rates will help the housing and stock market for about as long as peeing your pants will help when you have to go. It will give a warm feeling for a minute.
Everybody hates house-agents because they have everybody at a disadvantage. All other callings have a certain amount of give and take; the house agent simply takes. -- H. G. Wells
Nick Naylor, in Thank You For Smoking: "99% of everything done in the world, good or bad, is done to pay a mortgage. Perhaps the world would be a better place if everyone rented."
They hang the man and flog the woman Who steals the goose from off the Common;
But let the greater criminal loose Who steals the Common from under the goose
From Bart Fielder: What sound does the bubble bursting in california make? CA-BOOM
http://patrick.net/housing/calhouse4.gif
Cleveland Sues Banks Over Foreclosures
Friday January 11, 3:44 pm ET
By Thomas J. Sheeran, Associated Press Writer
Cleveland Sues 21 Banks, Argues That Their Lending Practices Caused a Public Nuisance
http://biz.yahoo.com/ap/080111/cleveland_subprime_lawsuit.html?.v=6
CLEVELAND (AP) -- The city of Cleveland, an epicenter of the nation's home foreclosure crisis, has sued 21 banks and claimed their subprime lending practices created a public nuisance that hurt property values and city tax collections.
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The lawsuit was filed Thursday in Cuyahoga County Common Pleas Court, and seeks to recover hundreds of millions of dollars in damages, including lost taxes from devalued property and money spent demolishing and boarding up thousands of abandoned houses.
Cleveland Mayor Frank Jackson said Friday that the buying and selling of high-interest mortgages by some of the nation's biggest banks had devastated city neighborhoods struggling to recover after the loss of manufacturing jobs.
"We have to hold accountable those who are responsible," Jackson said at a City Hall news conference.
Jackson compared the impact of the mortgage practices to the harm caused by drug dealing and said the motive was the same: profits.
The mayor said the city has faced skyrocketing foreclosure-related costs, including police and fire protection for abandoned homes, the expense of maintaining the properties and lost taxes.
The foreclosure crisis has been bad news for nearby homeowners and cities across the country because they lead to falling property values and increased crime.
Cleveland is not the first city to sue lenders over recent mortgage troubles. On Tuesday, Baltimore sued Wells Fargo, alleging the bank intentionally sold high-interest mortgages more to blacks than to whites in violation of federal law. The Baltimore suit alleged that Wells Fargo targeted black neighborhoods for high-risk and unfairly priced loans. Spokeswoman Debora Blume said in a statement that the company does not consider race when making loans.
Cleveland based its legal challenge on a state law that relates to public nuisances.
Jackson and Law Director Robert Triozzi said Cleveland should have been excluded from the frenzy of selling mortgage-backed securities to investors. The practice, known as securitization, became popular during the housing boom earlier this decade.
Triozzi said the big banks were targeted because of the their practice of pushing subprime mortgages to fuel profitable bond sales.
The city said Cleveland housing prices remained relatively flat amid industrial layoffs as real estate values jumped elsewhere. The suit claimed that even though these issues were well documented, investment bankers pushed loans to investors at the expense of borrowers.
The list of defendants includes both banks involved in a $4.1 billion takeover announced Friday -- Bank of America Corp. and Countrywide Financial, which will be bought by Bank of America. The acquisition will make Charlotte, N.C.-based Bank of America the nation's biggest mortgage lender and loan servicer.
Bank of America spokeswoman Shirley Norton said she couldn't comment on the lawsuit because she knew nothing about it.
A message and e-mail seeking comment were left at Countrywide offices Friday.
Deutsche Bank Trust Co. and Wells Fargo & Co. were named in the suit as foreclosing the largest number of homes over the past four years in Cleveland and surrounding Cuyahoga County. Deutsche Bank Trust was estimated to have 4,750 foreclosures in that period, and Wells Fargo had roughly 4,000, the lawsuit stated.
Deutsche doesn't comment on pending litigation, spokesman John Gallagher said Friday. A Wells Fargo spokeswoman said the bank could not provide an immediate comment.
"There is no doubt, in terms of the resources, there is going to be somewhat of a disparity -- a big disparity," said Joshua Cohen, the lawyer leading the lawsuit. "We're confident in our theory and what we have alleged. We knew exactly what we were taking on."
Ohio Attorney General Marc Dann is considering a state lawsuit against investment banks. Dann said a state filing is months away and probably wouldn't be submitted as a public nuisance case.
A report commissioned last November by the U.S. Conference of Mayors projected that 361 metropolitan areas would take an economic hit of $166 billion in 2008 because of the rise in foreclosures.
Lawsuit by city targets lender
Subprime mortgages unfairly marketed to blacks, it alleges
By John Fritze | Sun reporter
January 8, 2008
In a potentially groundbreaking lawsuit intended to stem foreclosures in Baltimore, Mayor Sheila Dixon's administration is suing a leading mortgage provider for what the city says has been a pattern of predatory lending in black neighborhoods.
The lawsuit, which the Dixon administration plans to file today in U.S. District Court, alleges that California-based Wells Fargo Bank sold higher-interest subprime mortgages to blacks more frequently than to whites and that the practice, known as reverse redlining, violates federal housing law.
Lenders are increasingly coming under legal attack from borrowers and investors stung by the subprime mortgage crisis, but Baltimore's lawsuit could be the first in the nation in which a city is attempting to recapture costs associated with foreclosed homes that wind up vacant.
If successful, the lawsuit could thrust Baltimore and the Dixon administration into the forefront of the debate over what government can do to address a problem facing cities across the country. The mayor is expected to formally announce the lawsuit this afternoon.
"They knew that the minority community was so desperate to get loans because they had been denied credit for so long," said John Relman, a partner at the Washington law firm Relman & Dane, which the city hired to help litigate the case. "They knew that people were so ready to say yes to anything that they went in there and charged them higher rates."
In a statement, Wells Fargo said race does not play a factor in its pricing.
The National Association for the Advancement of Colored People filed a lawsuit in July in U.S. District Court in Los Angeles alleging that the industry had discriminated against black borrowers. And in 2006, Ameriquest Mortgage Co. settled a lawsuit brought by 49 states that accused the company of violating consumer fraud statutes.
But the lawyers involved in Baltimore's case and several advocates could not name another city that has sued a lender under the federal Fair Housing Act to recover costs incurred from vacant properties.
Eric Halperin, director of the Washington office of the Center for Responsible Lending, said Baltimore's lawsuit is an extension of a long-standing practice in which plaintiffs have used the housing act in attempts to thwart unfair real estate practices.
"The idea of bringing these cases against the lenders is something that is relatively new," Halperin said. "As long as the city can prove that it was harmed and that the harm was the result of the illegal conduct by the lender, it seems to me that is squarely within the fair housing law."
Though Baltimore's lawsuit does not estimate the financial cost of the foreclosure crisis to the city, Solicitor George Nilson, whose department will oversee the suit, said Baltimore has lost tens of millions of dollars - in unrealized property tax revenue, added police and fire protection and legal costs - because of homes abandoned after foreclosure.
"We've identified a predatory lending practice that we feel confident we can prove occurred and that we know for a fact is illegal," said Dixon spokesman Sterling Clifford. "We're going to hold lending institutions responsible."
Since 2000, more than 33,000 Baltimore homes have been subjected to foreclosure filings. Wells Fargo, one of the two largest mortgage providers in the city since 2004, made 1,285 loans a year totaling more than $600 million from 2004 through 2006. City officials say most of the company's loans that resulted in foreclosure were made in black neighborhoods.
In 2005 and 2006, two-thirds of the company's foreclosures were in census tracts where at least 60 percent of the residents were black, according to the lawsuit. The company's foreclosure rate in black neighborhoods is nearly the double its overall average in the city, the lawsuit says.
"Wells Fargo has been, and continues to be, engaged in a pattern or practice of unfair, deceptive and discriminatory lending activity in Baltimore's minority neighborhoods that have the effect and purpose of placing inexperienced and undeserved borrowers in loans they cannot afford," the lawsuit says.
Relman said 70 percent of the loans sold by Wells Fargo that ended in foreclosure had fixed interest rates. Because the rates were fixed, he said, it should have been easier for Wells Fargo to foresee that many of its borrowers did not have the means to pay them back.
Debora Blume, a spokeswoman for Wells Fargo, said in statement that race is not a factor in the way the company makes loans, only credit risk. She said the company does not comment on pending litigation.
"We do not tolerate illegal discrimination against, or unfair treatment of, any consumer," the statement read. "Our loan pricing is based on credit risk. We are committed to serving all customers fairly - our continued growth depends on it."
Nearly 450,000 properties across the country tracked by the Mortgage Bankers Association were in some stage of foreclosure during the third quarter of last year, 30 percent more than in the second quarter, according to the lawsuit.
In Baltimore, the problem has been particularly acute: The number of "foreclosure events" - such as notices of default and foreclosure sales - increased fivefold from the first quarter to the second quarter of 2007.
Joanna Smith-Ramani, co-chair of the Baltimore Homeownership Preservation Coalition, said mortgage foreclosures are a huge problem for families trying to build wealth. The organization is a coalition of about 60 nonprofit groups, city agencies and industry representatives.
"We know there's really a very clear racial dynamic in the lending," she said. "It's ruining families' opportunity for financial opportunities and security."
john.fritze@baltsun.com
Yes a different angle on the subprime mess and it appears that the train is just beginning to leave the station.
Borrowers sue subprime lender, allege race bias
Countrywide denies blacks were charged more in fees
By Kimberly Blanton, Globe Staff | July 13, 2007
Three African-American mortgage borrowers from Boston accused Countrywide Home Loans Inc. of racial discrimination in a federal lawsuit yesterday, saying the nation's largest home lender charged them more for subprime mortgages than it charged white borrowers in similar financial situations.
The lawsuit, filed in US Court in Boston, contended Countrywide violated federal housing discrimination laws because the black homeowners in Boston paid higher fees to the network of agents that generate Countrywide's new customers. The company, the suit said, uses an "unchecked, subjective surcharge" that adds to the total costs of loans for its customers, and black borrowers, it contended, paid more than whites.
The suit seeks class-action status and more than $100 million to reimburse black customers of Countrywide and its subprime subsidiary, Full Spectrum Lending Inc., including about 10,000 in Massachusetts.
Countrywide denied the allegations.
"No other mortgage lender has done more to lower the barriers to homeownership among historically underserved communities than Countrywide, and we do not tolerate discrimination in any of our lending practices," the company said in a statement.
Lending race bias?
Boston Real Estate Now Blog
Foreclosure filings hit record high
Discrimination charges have historically plagued the lending industry and are again resurfacing with the rapid increase in home loan foreclosures, especially among borrowers with subprime mortgages, many of whom are minorities.
On Wednesday, the NAACP sued a dozen subprime lenders in Los Angeles for "systematic racism," charging blacks were 30 percent more likely to pay higher interest rates than whites.
Also, earlier this year, longtime mortgage analyst James Campen, a former economics professor, released a study of 2005 lending data that concluded 70 percent of African-American and Latino borrowers with incomes between $92,000 and $152,000 bought homes with subprime mortgages in Greater Boston, compared with just 16 percent of whites.
"There's no question in my mind" the subprime industry discriminates, said Campen.
In December, the New York attorney general reached a settlement with Countrywide in which the company must monitor its lending practices to prevent discrimination against blacks and Latinos.
Gary Klein, the Boston attorney who brought this latest case against Countrywide, said yesterday that "other lenders engaged in similar practices. There's potential national exposure in the subprime lending industry for a broad pattern of discrimination."
Klein's lawsuit does not provide evidence of how Countrywide allegedly charged black customers more than whites. Instead, he intends to ask the court for internal mortgage information from Countrywide to compare lending patterns for blacks and whites in hopes of establishing a pattern of different treatment.
Countrywide made $88.5 billion last year in non prime mortgages, according to MortgageDaily.com, and was one of the nation's top subprime lenders. Countrywide sells mortgages through its own employees, independent brokers, and correspondent lenders.
Klein's lawsuit said that Countrywide has a system of discretionary fees that the loan generators are allowed to charge customers and that blacks typically end up paying more than whites. White borrowers with comparable credit ratings, Klein said, "would've gotten more advantageous" deals, on average, either in the traditional, prime market or the subprime market.
"High fees drive up the effective interest rate," he said.
One plaintiff, Gillian Miller, bought a house in Hyde Park in January 2006 with two mortgages from Countrywide for $324,000 -- both with around 11 percent annual percentage rates, which include the loans' interest rates, plus fees.
She had previously owned other homes and said she felt uncomfortable with Countrywide's financing, including what the suit said was high broker fees -- $9,423. The loan was originally arranged by Summit Mortgage and sold to Countrywide.
"I'm the type of person who pays her bills on time," said Miller, an executive assistant at an affiliate of The Phoenix newspaper. She's now having difficulty making her $1,800-plus monthly payment.
Summit Mortgage chief executive Rick Fedele said Miller's fees reflected the difficulty of getting her a mortgage, because she had no money for a down payment and the particular type of mortgage she took out did not require her to document her income.
"This has nothing to do with black and white," he said, adding, her credit was "good but it wasn't great."
The lending industry was hit with discrimination charges in the 1970s and 1980s, when banks were accused of redlining -- refusing to lend to black home buyers.
But today's focus is on independent mortgage companies and their practices of being too willing to lend to minority borrowers, in particular high-cost subprime mortgages. As a result, these high-cost mortgages are concentrated in inner-city neighborhoods such as Roxbury in Boston and immigrant neighborhoods in cities such as Lawrence.
The mortgage industry defends the use of subprime loans as allowing millions of people with less-than-stellar credit achieve homeownership.
They argue black and Latino communities have lower credit scores and incomes, on average, so the subprime industry targets minority neighborhoods -- just as manufacturers would target children to sell cereal.
"Subprime lenders have Census tract information that tells them the likelihood of a subprime borrower in a black or Latino community is higher," said Kevin Cuff, executive director of the Massachusetts Mortgage Bankers Association.
Kimberly Blanton can be reached at blanton@globe.com.
Can A City Sue A Mortgage Lender For Indirect Or Secondary Damages From Predatory Or Discriminatory Subprime Lending?
The City of Baltimore thinks so, and has filed a lawsuit against Wells Fargo.
January 9, 2008 | Posted By Scott Riddle
Baltimore homeowners could receive counseling and financial support - including short-term loans to help avoid foreclosure - if the city wins the predatory and discriminatory lending lawsuit it filed yesterday against Wells Fargo Bank, Mayor Sheila Dixon said.
After reviewing foreclosure data, city attorneys concluded that the leading mortgage lender was steering black homebuyers into high-cost, subprime loans, a contention Wells Fargo denies. City officials believe theirs is the first attempt by a municipality to recoup losses as a result of the subprime mortgage crisis.
Do Cities have Standing? Redressing the Externalities of Predatory Lending
http://papers.ssrn.com/sol3/papers.cfm?abstract_id=774351
In addition, Cleveland State University Professor Kathleen Engel has written a paper, Do Cities have Standing? Redressing the Externalities of Predatory Lending. The abstract is --
Predatory lenders penetrate communities and, like polluters, leave distressed properties and desperate people in their wakes. The task of cleaning up falls to cities, yet predatory lending reduces the resources available for this clean up. Declining property values resulting from predatory lending mean reduced tax revenues just as empty buildings lead to increased demand for fire and police protection. City budgets are further strained as victims of predatory lending turn to cities for relief programs and protection from abusive lenders. In the language of economics, predatory lending imposes negative externalities on cities.
Lawyers across the country are pursuing claims on behalf of victims of predatory lending. Legislators are passing new laws to extend protection to borrowers and researchers are exploring the causes and cures for predatory lending. Yet, little attention has been paid to the plight of cities.
In this article, I analyze whether cities have standing to recover damages for the externalities that predatory lenders impose on them and whether cities have standing as parens patriae to pursue claims against predatory lenders. The paper begins with a description of the impact predatory lending has on municipalities and then turns to the law governing municipal standing to sue predatory lenders. I also examine particular claims cities could bring against predatory lenders and the bases for city standing to bring these claims. My conclusion is that broad grants of standing to cities to pursue claims against predatory lenders are necessary to enable cities to protect residents from lender wrongdoing, to recover damages for the injuries predatory lenders impose on cities, and to force abusive lenders to internalize the externalities of their lending practices.
GM stuffit
Cleveland Sues 21 Lenders Over Subprime Mortgages
By CHRISTOPHER MAAG
CLEVELAND — Cleveland is suing 21 of the nation’s largest banks and financial institutions, accusing them of knowingly plunging the city into a financial crisis by flooding the local housing market with subprime mortgage loans to people who could never repay.
The city is seeking “at least” hundreds of millions of dollars in damages, Cleveland’s law director, Robert J. Triozzi, said Friday. The list of defendants includes some of the most prominent firms on Wall Street, like Citigroup, Bank of America, Wells Fargo, Merrill Lynch and Countrywide Financial.
Mayor Frank G. Jackson said in an interview on Friday that the companies would be “held accountable for what they’ve done.”
“We’re going after them to get the resources we need to rebuild our city,” Mr. Jackson said.
The financial crisis has hit Cleveland especially hard, with more than 7,000 foreclosures in each of the last two years, Mr. Jackson said. Entire city blocks have been abandoned. The city’s budget has been strained by the effort to maintain thousands of boarded-up homes, and by the cost of responding to a rise in violent crime and arson.
The major banks involved did not return calls about the lawsuit. A spokesman for Merrill Lynch, Mark Herr, said, “We’re declining to comment right now.”
The Cleveland suit is separate from one filed Tuesday in federal court by the City of Baltimore against Wells Fargo, accusing it of violating fair-housing laws by singling out African-Americans for high-interest mortgages.
The Cleveland suit, filed Thursday in Cuyahoga County Common Pleas Court under the state’s public nuisance law, asserts that the financial institutions created nuisances across broad swaths of Cleveland because their loans led to widespread abandonment of homes. “We’ve torn down 1,000 abandoned houses, and haven’t even made a dent,” Mr. Jackson said.
The drop in homeownership, and a steep decline in population — to 444,000 residents in 2007 from almost a million in 1950, according to census figures — has drained Cleveland’s budget. In December, Mr. Jackson announced that the city was unable to borrow money and would be forced to postpone or permanently shelve millions of dollars in public works projects.
“The strain on our budget is too much,” Mr. Jackson said. “These companies have knowingly created a public nuisance by exploiting the city of Cleveland.”
Several Cleveland suburbs have expressed interest in joining the case as a class-action suit, Mr. Triozzi said. Because the city is suing under a state statute, cities outside Ohio could not join. “This case is about what these Wall Street bankers did to Cleveland,” Mr. Triozzi said.
Instead of aiming at the banks that originally made subprime mortgage loans in the city, the lawsuit is against those firms that bundled the loans into securities to be divided into shares and sold on the stock exchange. This process, and the large fees the firms generated from the work, Mr. Triozzi said, drove their effort to make as many loans as possible during an era of low interest rates and a prolonged housing boom.
EDCI insider buying might be worth a look.
http://finance.yahoo.com/q/it?s=EDCI
CHAPMAN CAPITAL L.L.C. I think it is a hedge fund, trying to buy the float.
Insider & restricted shareholder transactions reported over the last two years
Date Shares Stock Transaction ADVERTISEMENT
5-Nov-07 *9,053,680 EDCI Statement of Ownership
http://biz.yahoo.com/t/40/7181.html
chart by redsoxnumba1
http://stockcharts.com/c-sc/sc?s=EDCI&p=D&yr=0&mn=4&dy=0&i=p95724205637&a=126439604&r=4856
DDD also interesting.
Let me know what you think.
Merry Christmas and a Happy and safe Holiday to all.
Deep Down Completes Unique Installation Project
Friday December 21, 6:12 pm ET
HOUSTON, Dec. 21 /PRNewswire-FirstCall/ -- Deep Down, Inc. (OTC Bulletin Board: DPDW - News) developed a unique installation and recovery procedure for a major operator in the Gulf of Mexico that allowed a new subsea well to be brought online nearly a year earlier than would have otherwise been possible due to long lead times in the delivery of umbilicals and flexible flowlines. The operator contacted Saipem to recover a decommissioned flexible flowline Jumper and use an existing umbilical to control a new well with minimal hardware and installation costs. Saipem contracted Deep Down to develop and manage the installation and recovery procedures in approximately 2,750 feet of water, using its innovative techniques and support services, and to deploy its ancillary equipment and personnel to augment Saipem's ROV construction vessel capabilities. This work had to be performed at very fast pace.
ADVERTISEMENT
Ron Smith, Deep Down's President & CEO developed and supervised the installation and recovery procedures. Deep Down used its specialized, modular, compact HDU (Horizontal drive unit), mini carousel and 5 ton tensioner to recover a 4" Wellstream flexible flowline jumper with Oilstate connectors on both ends. The flowline was shipped onshore to be cut in half. Each end was terminated with a flanged interface and successfully hydrotested.
A 2,910 foot long composite jumper, conceived by the operator, was created at Deep Down by placing the flexible flowline jumpers on each end of a 1800 foot length of spooled 4" coiled tubing. Flanges were welded on and then x-rayed. Thermoplastic bend limiters were added to the end of the flexible to coiled tubing interface along with the original bend limiters that were on the oilstates end of the jumper. Deep Down filled and tested the composite well jumper and then dewatered it with Nitrogen.
A special 30-ton, 4-track tensioner was used to successfully install and connect the composite jumper on both ends in approximately 24 hours. The purpose of the jumper was to extend an existing flowline to the new well. The installation tension was 15 tons. After the jumper was installed, the empty Deep Down carousel was used to recover the SUTA (Subsea Umbilical Termination Assembly) and 2.5 miles of umbilical towards the platform and immediately re-laid towards the new well.
"In order to provide the innovative services required by operators in deep water, we have to work as a cohesive unit with other suppliers in the pursuit of common goals. This project highlighted the effectiveness of our ability to work jointly with Saipem to deliver solutions to challenging issues that were being faced by the operator. Cooperation between Deep Down's specialized deepwater installation crews and Saipem's specialized service technicians, enabled us to safely accomplish these tasks in an expedited fashion. As a result, we were able to work in the harshest time of the year within very small weather windows to recover a jumper, install a new 2,900 foot long 4" composite well jumper, and recover several miles of umbilical, relaying it to a completely different location in three days. I enjoy working with these specialized teams to provide innovative services. Total customer satisfaction, as evidenced by the smiles on the faces of our clients when the projects are successfully completed, is everything for us," commented Ronald E. Smith.
Deep Down has in its possession a Baricon 30-ton, 4-track tensioner which is available for use in the Gulf of Mexico. Deep Down is presently booking commitments for its use.
About Deep Down, Inc.
Deep Down specializes in the provision of innovative solutions, installation management, engineering services, support services, custom fabrication and storage management services for the offshore subsea control, umbilical, and pipeline industries. The company fabricates component parts of subsea distribution systems and assemblies that specialize in the development of subsea fields and tie backs. These items include umbilicals, flow lines, distribution systems, pipeline terminations, controls, winches, and launch and retrieval systems, among others. Deep Down provides these services from the initial field conception phase, through manufacturing, site integration testing, installation, topside connections, and the final commissioning of a project. The Company's ElectroWave subsidiary offers products and services in the fields of electronic monitoring and control systems for the energy, military, and commercial business sectors. ElectroWave designs, manufactures, installs, and commissions integrated PLC and SCADA based instrumentation and control systems, including ballast control and monitoring, drilling instrumentation, vessel management systems, marine advisory systems, machinery plant control and monitoring systems, and closed circuit television systems. The Company's Mako Technologies subsidiary serves the growing offshore petroleum and marine industries with technical support services, and products vital to offshore petroleum production, through rentals of its remotely operated vehicles (ROV), topside and subsea equipment, and diving support systems used in diving operations, maintenance and repair operations, offshore construction, and environmental/marine surveys
The Company's strategy is to consolidate service providers to the offshore industry, as well as designers and manufacturers of subsea, surface, and offshore rig equipment used by major, independent, and foreign national oil and gas companies in deep-water exploration and production of oil and gas throughout the world. Deep Down's customers include BP Petroleum, Royal Dutch Shell, Exxon Mobil Corporation, Devon Energy Corporation, Chevron Corporation, Anadarko Petroleum Corporation, Marathon Oil Corporation, Kerr-McGee Corporation, Nexen Inc., BHP, Amerada Hess, Helix, Oceaneering International, Inc., Subsea 7, Inc., Transocean Offshore, Diamond Offshore, Marinette Marine Corporation, Acergy, Veolia Environmental Services, Noble Energy Inc., Aker Kvaerner, Cameron, Oil States, Dril-Quip, Inc., Nexans, Cabett, JDR, and Duco, among others. For further company information, please visit http://www.deepdowninc.com and http://www.electrowaveusa.com
One of our most important responsibilities is to communicate with shareholders in an open and direct manner. Comments are based on current management expectations, and are considered "forward-looking statements," generally preceded by words such as "plans," "expects," "believes," "anticipates," or "intends." We cannot promise future returns. Our statements reflect our best judgment at the time they are issued, and we disclaim any obligation to update or alter forward-looking statements as the result of new information or future events. Deep Down urges investors to review the risks and uncertainties contained within its filings with the Securities and Exchange Commission.
--------------------------------------------------------------------------------
Source: Deep Down, Inc.
William Mcdonough Green Architect interesting character if you have time the link is a video from a green conference Going Green at Cal Davis.
William McDonough, Architect & Author, "Cradle to Cradle"
http://alwayson.goingon.com/permalink/post/18864
Link to archived presentations at Going Green
http://alwayson.goingon.com/page/display/18244
GVGDF Grandview Gold Inc
http://66.119.176.213/send368.php
Company NewsBack to news index
November 7, 2007
Grandview's Final Carlin Trend Assays Extend Mineralized Zone;
Drill Holes Return Gold Values as High as 3.06 g/tonne over 20 Ft.
November 7, 2007, - Toronto, Ontario - Grandview Gold Inc., (TSX Symbol: GVX, OTC-BB Symbol: GVGDF) ("Grandview" or the "Company"), as joint venture operator pursuant to its agreement with Mill City Gold Corp, is very pleased to announce final assay results on two additional holes drilled to test structural zones within the NI 43-101 compliant drill inferred 1.426 million ounce resource area on the Company's 28 square-mile Pony Creek/Elliot Dome property on the Carlin Trend in north central Nevada (the "Property"), but outside of areas targeted earlier in the drill program. Hole PC-07-21 returned 1.45 g/tonne gold over 16.7 m (0.042 opt over 55 ft) including a higher grade section of 3.06 g/tonne gold over 6.1 m (0.089 opt over 20 ft) and PC-07-18 assayed 0.53 g/tonne gold over 19.8 m (0.015 opt over 65 ft).
Grandview President and CEO Paul Sarjeant, B.Sc., P.Geo is thrilled by the cumulative results of the 2007 program at Pony Creek, saying "We couldn't be more pleased about the Company's Nevada program. We've had a stellar season, announced some very significant news, and have much to look forward to next exploration season. These last two holes indicate continuation of the mineralized zone and a potential new target area, and we will be weighting the data against historic drilling in the vicinity to help us design drill targets for 2008. Certainly, we will be looking at how we can, over time, upgrade our 1.426 million ounce gold inferred resource, but in so doing we will be drilling more holes, drilling deeper and refining our targets with the end goal of having a major gold producer sit up and take notice."
Table 1. Significant Assay Results from PC-07-18 and PC-07-21
DDH# From m (ft) To m (ft) Length m (ft) + Au g/tonne (opt)
PC-07-18 132.6 (435) 152.4 (500) 19.8 (65) 0.53 (0.015)
PC-07-21 29.0 (95) 45.7 (150) 16.7 (55) 1.45 (0.042)
incl 38.1 (125) 44.2 (145) 6.1 (20) 3.06 (0.089)
+ Drill hole intercept length should not be assumed to be true thicknesses
The PC-20 zone refers to a target area within the inferred resource area, first drilled by Newmont Mining Corp ("Newmont") in 1981. Results from PC-07-21 and PC-07-18 as well as for holes 16, 19, and 20 released earlier this season, appear to confirm Grandview geologists' interpretation of a north-south structural control on mineralization in the inferred resource area.
The PC-07-21 target concept, while similar to the PC-07-16, 19, and 20 target concept, was applied to a north-south structure area located 370m west of the PC-20 zone. Mineralization in PC-07-21 is located immediately at the contact between the Pony Creek rhyolite unit and the underlying sandstone unit, similar to the geology around hole PC-20. The step-out was considerable and into an area with less historical data. Company geologists however, were confident of the target's potential and are encouraged by the results and possibility of enlarging and ultimately upgrading the inferred resource area.
Hole PC-07-18 was located approximately 150 m (500 ft) northwest of the PC-20 area and was designed to intercept another structural zone within the Pony Creek rhyolite. The holes intercepted a wide envelope of gold values that defined the structure within the intrusive unit but did not intercept the sediment unit in proximity to the structure.
Table 2. Chronology of Significant Assays: Relevant Historic Holes within the PC-20 Zone
DDH# From m (ft) To m(ft) Length m (ft) + Au g/tonne (opt)
PC-07-19*
GVX 2007 111.2 (365) 153.9 (505) 42.7 (140) 2.59 (0.075)
incl 123.4 (405) 140.2 (460) 16.8 (55) 5.90 (0.172)
incl 123.4 (405) 132.6 (435) 9.2 (30) 9.49 (0.277)
incl 123.4 (405) 125.0 (410) 1.6 (5) 13.45 (0.392)
PC-07-20*
GVX 2007 126.5 (415) 173.7 (570) 47.2 (155) 1.33 (0.039)
incl 131.1 (430) 155.5 (510) 24.4 (80) 2.21 (0.064)
incl 135.6 (445) 141.7 (465) 6.1 (20) 4.12 (0.120)
incl 152.4 (500) 155.4 (510) 3.0 (10) 4.39 (0.128)
PC-07-16*
GVX 2007 128.0 (420) 164.6 (540) 36.6 (120) 2.18 (0.064)
incl 128.0 (420) 134.1 (440) 6.1 (20) 3.18 (0.093)
incl 152.4 (500) 164.6 (540) 12.2 (40) 3.29 (0.096)
incl 153.9 (505) 155.5 (510) 1.5 (5) 10.05 (0.293)
PC-06-06*
GVX 2006 100.6 (330) 109.7 (360) 9.1 (30) 2.72 (0.079)
incl* 100.6 (330) 112.5 (340) 3.05 (10) 5.36 (0.156)
PC-05-02*
GVX 2005 120.4 (395) 137.2 (450) 16.8 (55) 5.10 (0.149)
incl* 126.5 (415) 129.5 (425) 3.05 (10) 12.50 (0.365)
PC-20*
Newmont 1981 123.4 (405) 157.0 (515) 33.5 (110) 5.73 (0.167)
incl* 125.0 (410) 132.6 (435) 7.6 (25) 5.66 (0.165)
incl* 134.1 (440) 141.7 (465) 7.6 (25) 15.43 (0.450)
*Previously reported + Drill hole intercept length should not be assumed to be true thicknesses.
PC-07-18 and PC-07-21's step-out locations and target depths were calculated by Grandview geologists by incorporating geological data with assays from all Pony Creek holes drilled this season, PC-06-06 drilled by the Company in 2006, PC-05-02 drilled by the Company in 2005 and historic PC-20 drilled by Newmont in 198�1. Significant assays from earlier in the 2007 program, plus those from PC-06-06 and PC-05-02 are included for chronological reference in Table 2 above. See the Company's news releases dated September 26, October 10 and November 1, 2007 for details of the 2007 Nevada drilling program. For details of PC-06-06 and PC-05-02, see Grandview news releases dated December 20, 2006 and February 1, 2006 respectively. For details of PC-20 see the Report on www.sedar.com.
A 1.426 million ounce drill inferred resource at Pony Creek South and North was identified on the property by the previous operators. The National Instrument 43-101 report (the "Report") dated March 18, 2004 titled "Evaluation of the Gold Resource on the Pony Creek Property", was prepared by Rick H. Russell, MSc, a licensed geologist and can be reviewed at www.sedar.com.
Grandview Chairman, Dr. Michael Hitch, M.Sc, Ph.D, P.Geo concludes, "It is significant that the Company announces a successful close to its 2007 program in Nevada almost one year to the day that it announced the appointment of Paul Sarjeant to the office of President and CEO of the Company. I believe I speak on behalf of the entire board of directors when I propose that that decision was of strategic benefit to the Company and to its shareholders."
The drilling program was carried out under the supervision of Paul Sarjeant, B.Sc, P.Geo, President and CEO of Grandview, who is a "qualified person" as defined by NI 43-101. The information in this release was reviewed by and prepared under the direction of Paul Sarjeant. All samples were prepared and analyzed by ALS Chemex, with sample preparation in Elko and analysis in Vancouver.
About the Carlin Trend
The Carlin Trend is the second richest gold district in the world, second only to Witwatersrand South Africa. Carlin Trend mines have produced more than 75 million ounces of gold to date, worth over USD$58 billion at today's prices. More than 100 million ounces gold of proven and probable reserves worth over USD$78 billion remain in the ground. A detailed Regional Activity map of the Carlin Trend, including historic production and probable reserves, can be found on the Company website at http://www.grandviewgold.com/Gold_Properties/Carlin_Trend/
About Pony Creek/Elliot Dome
Under the terms of an option agreement with Mill City Gold Corp, the Company has earned an 100% interest in the Property. The Pony Creek/Elliott Dome Property represents the largest consolidated land position on the Carlin Trend not already owned by a major resource company. The Property is situated at the south end of the Carlin Trend between Barrick Gold Corporation's 4.5 million ounce (USD$3.5 billion) Bald Mountain Mine and Newmont's 5 million ounce (USD$3.9 billion) Rain/Emigrant Springs.
Exploration Status
The Company has completed its 2007, 3,910.6 m (12,830 ft) drill program on the Property over the Pony Creek South, Pony Creek West and Red Rock target areas. In the Rice Lake District, the Company has commenced diamond drilling on the Angelina project near the Rice Lake Gold Project. Grandview geologists are preparing to return to the Red Lake District to drill on the Sanshaw-Bonanza property.
For further information, contact Paul Sarjeant at 416.486.3444 #113 or visit www.grandviewgold.com.
This document may contain forward looking statements, relating to the Company's operations or the environment in which it operates, which are based on Grandview Gold Inc's operations, estimates, forecasts and projections. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to predict, and/or beyond Grandview Gold Inc's control. A number of important factors could cause actual outcomes and results to differ materially from those expressed in these forward-looking statements. Consequently, readers should not place undue reliance on such forward-looking statements. Grandview Gold Inc. disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
CAUTIONARY NOTE TO U.S. INVESTORS CONCERNING ESTIMATES OF INFERRED RESOURCES
This section uses the term "inferred resources." We advise U.S. investors that while this term is recognized and required by Canadian regulations, the U.S. Securities and Exchange Commission does not recognize it. "Inferred resources" have a great uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of an Inferred Mineral Resource will ever be upgraded to a higher category. Under Canadian rules, estimates of Inferred Mineral Resources may not form the basis of feasibility or pre-feasibility studies, except in rare cases. U.S. investors are cautioned not to assume that part or all of an inferred resource exists, or is economically and legally mineable.
FSLR going bonkers in a good way
Gemini Explorations (GXPI.OB)
From the given Link http://www.gaskinsco.com/linkto-gxpi.shtml
Stock symbol: GXPI.OB….…....….…..…………………..Ave. Volume 423,000
Stock price 9/29/07: $.08…….….Common shares (7/11/07: 65mm est)
52-week price range: $.07 - $.55…………Equity market capitalization: $5.2mm
Recent News…..Stock Price…..Chart…..SEC Filings
BUSINESS
Junior resource company exploring and developing gold properties in southern Columbia
COLUMBIA & gold production
. Historically one of the largest gold producing countries in the world, Colombia's vast mineral potential has remained virtually unexplored using modern exploration and mining techniques.
. The Department (Province/State) of Antioquia alone produces over 1,000,000 ounces of gold per year currently, and most of it is produced from antiquated production equipment and facilities.
. Driven by a new era of political and economic stability and an investment-friendly mining code, Colombia has emerged as one of the resource sector's most attractive new mining frontiers.
INDUSTRY OUTLOOK
According to FP Trading Desk, RBC Capital. Analysts Stephen D. Walker and Michael Curran
. Gold equities will outperform bullion over the remainder of 2007 and into 2008,
. In part because of the expectation that many gold companies will report overall improvement in operating and financial performances in 2008
. As a result of new mine start-ups and the onset of new low-cost production growth.
RECENT GXPI DEVELOPMENTS
. Completed the purchased an 80 percent controlling interest in the Los Chorros mine and has secured first rights of refusal on the remaining 20 percent interest with 18 months.
. Received an equipment grant from the Colombian Government to assist in the modernization and re-development of the Los Chorros Mine. The first shipment of equipment arrived at the property in the first week of September 2007 and will further expedite the modernization and re-development of the Los Chorros Mine.
. Fall drill program set for the La Planada project
Address: Suite 103, 240-11th Avenue SW, Calgary, Alberta Canada, T2R 0C3
Telephone: 403.697.4877
President: Michael Hill
Web Site: http://www.geminiexploration.com/
State or other jurisdiction of incorporation or organization: NV
Transfer Agent: Empire Stock Transfer Inc.
Investor contact: Michael Hill, President, info@geminiexploration.com, IR info: 1 877 700 1644
LOS CHORROS MINE
Los Chorros Mine opportunity
. The Los Chorros Mine is currently being mined with extremely antiquated equipment.
. Current mining operations at Los Chorros recover a low percentage of the available gold and precious metals present on the property.
. Gemini believes the project could be turned into a highly efficient producing gold project with low capital costs.
. Gemini's plans are to build a modern processing facility at Los Chorros with far greater recovery rates of the gold and other precious metals present.
Mine Modernization
. Modernization and re-development of the producing gold property will continue with a projected completion in the first quarter of 2008.
. The mine re-development program includes large underground access improvements, a modern recovery plant installation and the option of installing a private energy generation plant.
New processing and recovery system
. Gemini is working closely with RMS-Ross Corporation, a designer, manufacturer and distributor of an extensive range of quality mining machinery to design a modern, highly efficient processing and gold recovery system for Los Chorros.
. The plant would initially run at 30 to 50 tonnes/day with production doubling every 90 days during the first year.
Los Chorros Mine Production rates
MPGS (Minera Primecap Geological Services SA of Medellin, Colombia) geologist Juan Restrepo reported that
. 50 tonnes per day production yielding an average grade of 12 grams per tonne Au (gold) would produce US$3,125,000 per year
. 100 tonnes per day production rate would produce over US$6,250,000 of net cash flow after all costs
. MPGS estimates that production in the second year could increase to a 300 tonnes per day yielding US$18,750,000 net cash flow to the company.
These estimates are based on US$650 per ounce gold with US$200 per ounce operating and production costs netting US$450 per ounce. Gemini has purchased an 80 percent controlling interest in the mine and has secured first rights of refusal on the remaining 20 percent interest.
The Los Chorros mine itself
. The principal exposed vein in the Los Chorros working tunnels measures up to 2 meters thick and dips down at 45 degrees.
. Visible sulphides and massive sulphides are exposed and run from 2% up to 70%.
. Visible gold is present and samples assayed along a 30 meter section of the principal vein exposed between 2 faults returned values between 15 grams/tonne Au and 250 grams/tonne Au.
LA PLANADA GOLD PROJECT
Potential
"Our goal is to have a drilling program underway for the La Planada gold project in the fall to winter time frame, and prove that the La Planada Gold Project is the multi-million ounce gold deposit that we believe it is."
. As reported on February 23, 2007, Carlos Alberto Vera of MPGS estimated the La Planada Gold project to contain over 3 million ounces of gold representing a potential 2 billion dollar deposit with gold trading at $650 per ounce
. The Los Chorros Mine Provides an internal source of cash flow to fund its ongoing development and exploitation of its wholly owned La Planada Gold Project, a potential multi million ounce gold deposit located in the municipality of Sotomayor, department of the Nariño in southern Colombia.
Overview
. Gemini’s newly acquired La Planada property is located in the municipality of Sotomayor, department of the Nariño, in southwestern Colombia. . Access to the property is approximately 80 km from Pasto the capital city of the Nariño department by open road.
. The project covers 45 hectares and is composed of Dagua Group Upper Cretaceous quartzites and siliceous siltstones intruded by a granodiorite plug. There are at least 3 different crosscutting vein sets. The principal vein ranges between 0.4 m and 2.0 m in width. Other veins range between 3 and 20 cm (or more) in width. All carry some sulphides, and free gold was seen in both quartz and with the sulphides.
La Planada drill program
. The La Planada Gold Project drill program is expected to start in the fall to winter time frame
. Minera Primecap Geological Services (MPGS) chief geologist Carlos Alberto Vera is in charge of directed his geological team as they prepare drill targets at the La Planada Gold Camp
POTENTIAL GXPI MARKET CAPITALIZATION
Background
Mid-sized gold exploration and production companies
in South America, all of whom have negative cash flows
Venezuela
Gold Reserve Inc. (GRZ), $250 market capitalization
http://finance.yahoo.com/q?s=grz
Crystallex International Corp. (KRY), $750 market capitalization
http://finance.yahoo.com/q?s=kry
Chile
Arizona Star Resource Corp. (AZS), $455 market capitalization
http://finance.yahoo.com/q?s=azs
Cash flow multiples
of large companies engaged in the operation of mines, as well as exploration and development
Barrick Gold Corp. (ABX)
http://finance.yahoo.com/q?s=abx
Market cap:$32 billiion
Cash flow multiple: 15 based on (click)
http://finance.yahoo.com/q/cf?s=ABX&annual
. Engages in the acquisition, exploration and development of gold properties. Its products include gold, copper, silver, and zinc.
. The company holds interests in various gold mineral resources, including Goldstrike, Pueblo Viejo, Cortez, Bald Mountain, Turquoise Ridge, Round Mountain, Ruby Hill, Hemlo, Marigold, Golden Sunlight, Eskay Creek, South Arturo, and Donlin Creek mines located in North America;
. Lagunas Norte, Veladero, Pascua-Lama, and Pierina mines situated in South America;
. Porgera, Cowal, Plutonic, Kanowna, Darlot, Granny Smith, Lawlers, Henty, Osborne, and Reko Diq mines located in Australia Pacific; and
. Bulyanhulu, North Mara, Buzwagi, and Tulawaka mines situated in Africa.
. Barrick Gold Corporation's copper mines include Zaldivar Mine located in Chile and Osborne Mine situated in Australia.
Goldcorp (GG)
http://finance.yahoo.com/q?s=gg
Market cap, $19 billion
Cash flow multiple: 24 based on
http://finance.yahoo.com/q/cf?s=GG&annual
. Engages in the acquisition, exploration, development, and operation of precious metal properties in the Americas and Australia. It focuses on gold, silver, and copper.
. The company owns a 100% interest in the Red Lake gold mine comprising the Red Lake Complex and the Campbell Complex in Canada; the Penasquito gold project, the San Dimas gold-silver mine, the Nukay gold-silver mine, the Los Filos gold project, and the El Sauzal gold mine in Mexico; and the Marlin gold-silver mine in Guatemala.
. It also owns a 100% interest in the Peak gold mine in Australia, the Amapari gold mine in Brazil, the Wharf gold mine in the United States, the Eleonore gold project in Quebec, the Cerro Blanco gold project in Guatemala, and the Imperial gold exploration project in the United States.
. In addition, the company has a 37.5% interest in the Bajo de la Alumbrera gold-copper mine located in Argentina, a 40% interest in the Pueblo Viejo gold development stage project in the Dominican Republic, a 68% interest in the Musselwhite gold mine in Canada, a 66 2/3% interest in the Marigold gold mine in the United States, a 50% interest in the La Coipa gold-silver mine in Chile, and a 51% interest in the Porcupine gold mine in Canada. Further, it holds a 50% interest in the La Coipa gold-silver mine located in Chile, a 21.2% interest in the El Limon gold exploration project in Mexico, a 40% interest in the South Arturo gold exploration project in the United States, and a 35% interest in the San Nicolas zinc-copper exploration project in Mexico.
Kinross Gold (KGC)
http://finance.yahoo.com/q?s=kgc
Market cap: $8.25 billion
Cash flow multiple: 28 based on
http://finance.yahoo.com/q/cf?s=KGC&annual
. Engages in mining and processing gold and silver ores, and the exploration and acquisition of gold bearing properties in the Americas, Russia, and internationally.
. The company owns interests in Fort Knox and Round Mountain properties located in Alaska and Nevada, the United States; Paracatu property located in Minas Gerais, Brazil; and Refugio property located in Maricunga District, Chile.
. It also holds interests in the Porcupine Joint Venture with Goldcorp Canada, Ltd. in Timmins, and Musselwhite mine in Ontario, Canada; La Coipa mine joint venture with Goldcorp, Inc. in Chile; Crixas mine in Brazil; Kettle River mine in Washington, the United States; and other mining properties in various stages of exploration, development, reclamation, and closure.
. In addition, Kinross Gold owns interests in the Aldebaran property in Chile; Kupol gold and silver property in northwest Russia; and Julietta mine, a gold and silver underground mine in Russia
IAMGOLD (IAG)
http://finance.yahoo.com/q?s=IAG
Market cap: $2.25 billion
Cash flow multiple: 28 based on
http://finance.yahoo.com/q/cf?s=IAG&annual
. IAMGOLD Corporation engages in the exploration, development, and production of precious mineral resource properties in Canada, South America, and west Africa.
. The company has interests in Doyon and Mouska gold mines, and the Sleeping Giant gold mine located in the Province of Quebec, Canada; the Rosebel gold mine in Suriname; and the Sadiola gold mine in the Republic of Mali, west Africa.
. It also holds interests in the Yatela gold mine in the Republic of Mali; the Tarkwa gold mine in Ghana; the Damang gold mine in Ghana; the Mupane gold mine in Botswana; the Camp Caiman project in French Guiana; the Quimsacocha project in Ecuador; the La Arena project in Peru; and the Buckreef exploration project in Tanzania.
Assumptions
Los Chorros Mine Production rates
MPGS (Minera Primecap Geological Services SA of Medellin, Colombia) geologist Juan Restrepo reported that
. 50 tonnes per day production yielding an average grade of 12 grams per tonne Au (gold) would produce US$3,125,000 per year
. 100 tonnes per day production rate would produce over US$6,250,000 of net cash flow after all costs
. MPGS estimates that production in the second year could increase to a 300 tonnes per day yielding US$18,750,000 net cash flow to the company.
If the objectives are met
. If the Los Chorros mine meets to MPGS objectives outlined above, and assuming a market capitalization rate of 20 (below that of the majors discussed above)
. Then once the upgraded mine is producing cash flow at the rate of $3 million per year, the market cap of GXPI could be in the range of $60 million
. With 65 million shares issued, then the price per share could approach $.92
MANAGEMENT
Michael Hill, President
Mr. Hill has over twenty years of experience in venture capital finance, investment banking and business development in North America, Europe and South America. Mr. Hill has extensive involvement in the initial start up and secondary funding of both private and public companies in a variety of sectors including: mining exploration, oil and gas, cable and media, technology and biotechnology. He has successfully completed and participated in transactions ranging up to $250,000,000 and has been an intricate participant in numerous Merger and Acquisition strategies. Mr. Hill began his investment career in 1987 at Burns Fry Ltd. and worked at Scotia McLeod, Majendie Charlton and Research Capital Ltd.
In 2002, Mr. Hill left Research Capital and started his own finance and consulting company. Since that time, Mr. Hill has been active in private and public companies operating in California, British Columbia and Colombia, South America.
For the past year Mr. Hill has consulted and worked on his third South American mining exploration and development project. From 1994 to 1996 he worked closely with Minera Andes Inc. to fund and develop their mining exploration program in Argentina. Mr. Hill went on to finance a gold and copper exploration company in Brazil from 1996 thru 1999 that continues today as a private company.
Oscar Fernandez, Director
Mr. Oscar Fernandez is a Colombian citizen residing in Medellin, Colombia. Mr. Fernandez attended Jorge Robledo University and Louisiana State University graduating in 1979 from the International Trade and Finance faculty with a degree in International Finance. In 1980 Mr. Fernandez worked with the Irving Trust Co. of New York and then moved to Banco Comercial Antioqueno where he spent the next 14 years in management and executive roles with specific experience as both International Division Manager and International Vice President overseeing international banking operations.
Mr. Fernandez and his family have extensive agricultural, cattle and timber holdings throughout Colombia where he spent the past 14 years in his role as General Manager.
Mr. Fernandez is the President of the board of directors of the Regional Timber Growers Association for Colombia and Board President for the Instituto de Capacitacion Los Alamos an institution dedicated to helping persons with mental disabilities.
Mr. Fernandez brings a wealth of Colombian business knowledge and contacts to his position as director and board member of Gemini Explorations, Inc.
Carlos Alberto Vera, Senior Geologist and Manager
(Geological Staff, Minera Primecap Geological Services)
Mr. Vera has over twenty years of diversified experience in exploration and engineering encompassing all phases of mineral exploration. He has worked in the field as geologist, chief geologist, consultant and manager in charge of project evaluation and project management in Colombia, Bolivia and Venezuela. Mr. Vera holds a B.Sc degree in Geology and Engineering from University Nacional of Medellin and a M.Sc. degree from University Eafit of Medellin, Colombia.
Juan Fernando Restrepo, General Manager
(Minera Primecap Geological Services)
Mr. Juan Fernando Restrepo is the General Manager of Minera Primecap Geological Services and has consulted and held management positions in several industrial companies in Colombia.
Mr. Restrepo has a Bachelor of Geology and a Master of Science in Geology from University of South Florida, Tampa. He has taught Optical Mineralogy and Igneous and Metamorphic Petrology at the Universidad Nacional de Colombia.
IPOdesktop (ID) SAFE HARBOR STATEMENT: Statements contained in this document, including those pertaining to estimates and related plans, potential mergers and acquisitions, estimates, growth, establishing new markets, expansion into new markets and related plans other than statements of historical fact, are forward-looking statements subject to a number of uncertainties that could cause actual results to differ materially from statements made. ID provides no assurance as to the subject company's plans or ability to effect any planned and/or proposed actions. ID has no first-hand knowledge of management and therefore cannot comment on its capabilities, intent, resources, nor experience and makes no attempt to do so. Statistical information, dollar amounts, and market size data was provided by the subject company or its agent and related sources believed by ID to be reliable, but ID provides no assurance, and none is given, as to the accuracy and completeness of this information.
DISCLAIMER: The information, opinions and analysis contained herein are based on sources believed to be reliable but no representation, expressed or implied, is made as to its accuracy, completeness or correctness. Past performance is no guarantee of future results. This report is a paid advertisement and is for information purposes only and should not be used as the basis for any investment decision. ID has been compensated up eighty five hundred dollars from EquityAlllianceIR for preparation and posting of this report and other advertising services. This constitutes a conflict of interest as to ID’s ability to remain objective in its communication regarding the subject company. Analysts, principals, associates and employees of ID do not own or trade equities under coverage. For detailed disclosure as required by Rule 17b of the Securities Act of 1933/1934 contact IPOdesktop, 11693 San Vicente Blvd., #350, Los Angeles, CA 90049. ID is not an investment advisor and this report is not investment advice. This information is neither a solicitation to buy nor an offer to sell securities but is a paid advertisement. Information contained herein contains forward-looking statements and is subject to significant risks and uncertainties, which will affect the results. The opinions contained herein reflect our current judgment and are subject to change without notice. We encourage our readers to invest carefully and read the investor information available at the web sites of the U.S. Securities and Exchange Commission (SEC) at http://www.sec.gov and the National Association of Securities Dealers (NASD) at http://www.nasd.com. The NASD has published information on how to invest carefully at its web site. Readers can review all public filings by companies at the SEC's EDGAR page.
Gemini Explorations Focuses On Gold in Colombia, According to Analyst Report From IPOdesktop.com
Thursday October 11, 2:30 am ET
LOS ANGELES, Oct. 11, 2007 (PRIME NEWSWIRE) -- Gemini Explorations (OTC BB:GXPI.OB - News) Analyst Report discussing gold projects in Colombia, is available from IPOdesktop.com.
Gemini Explorations is a junior resource company exploring and developing gold properties in southern Colombia.
REPORT LINK
IPOdesktop research report
http://www.gaskinsco.com/linkto-gxpi.shtml
About Gemini Explorations
http://www.geminiexploration.com/index.html
ADVERTISEMENT
Gemini Explorations completed the purchase of an 80 percent controlling interest in the Los Chorros mine and has secured first rights of refusal on the remaining 20 percent interest with 18 months. The company has received an equipment grant from the Colombian Government to assist in the modernization and re-development of the Los Chorros Mine. The first shipment of equipment arrived at the property in the first week of September 2007 and will further expedite the modernization and re-development of the Los Chorros Mine. Gemini's newly acquired La Planada property is located in the municipality of Sotomayor, department of the Narino, in southwestern Colombia, and a drilling program has been set.
About IPOdesktop
http://IPOdesktop.com
IPOdesktop.com, the leading provider of independent IPO research for professional money managers and individual investors, also produces the IPO Hardball radio program.
In the 'Analysts Corner' at IPOdesktop.com, research reports are available for both recent IPOs and emerging companies.
http://gaskinsco.com/linkto-analysts-corner.htm
IPOdesktop editors are quoted by The Wall Street Journal, Dow Jones Newswires, MarketWatch, Reuters, USATODAY, and others. IPOdesktop editors also co-host financial programs at StreetIQ.com.
Disclaimer
IPOdesktop (ID) SAFE HARBOR STATEMENT: Statements contained in this analyst report report, including those pertaining to estimates and related plans, potential mergers and acquisitions, estimates, growth, establishing new markets, expansion into new markets and related plans other than statements of historical fact, are forward-looking statements subject to a number of uncertainties that could cause actual results to differ materially from statements made. DISCLAIMER: The information, opinions and analysis contained herein are based on sources believed to be reliable but no representation, expressed or implied, is made as to its accuracy, completeness or correctness. This report is a paid advertisement and is for information purposes only and should not be used as the basis for any investment decision. ID has been paid up to eighty five hundred dollars from equityallianceir for preparation and posting of this report and other advertising services. This constitutes a conflict of interest as to ID's ability to remain objective in its communication regarding the subject company...more safe harbor & disclaimer http://gaskinsco.com/report-disclaimer-c.htm
Contact:
Gemini Explorations, Inc
Michael Hill, President
1 877 700 1644
info@geminiexploration.com
http://www.geminiexploration.com
8th Floor, 5201 Blue Lagoon Drive
Miami, Florida 33126
http://www.gaskinsco.com/linkto-gxpi.shtml
Thanks, the three stocks listed as (new) are DSWL, DRGV and CPBY. I was going to look at those first.
Updated List of Chinese Stocks. I know your busy but this was just emailed to me. I was wondering if there are any goodies left in the asian bag. I was hoping to get some help. I know a few have already made their move, but there has got to be a sleeper in here somewhere.
Ticker Sector * = Most Liquid
FMCN Advertising *
SEED Agriculture
CEA Airlines - Passenger *
ZNH Airlines - Passenger *
ACH Aluminum Mining
SORL Auto Parts
WATG Auto Parts
GAHI Banking
ABAT Batteries
CSUH Beverages
CCYG Biotech
CYTV Broadcasting *
CAF Brokerage Services
CHNR Business Acquisition
CSCA Business Acquisition
DRGV Business Acquisition (new)
JOBS Business Services
JRJC Business Services
KONG Business Services
LONG Business Services
NCTY Business Services
EEE Coal Production
PUDC Coal Production
SDTH Coal Production
ASIA Computer Hardware
CHINA Computer Services
GIGM Computer Services
GSOL Computer Services
NTES Computer Services *
PACT Computer Services
SINA Computer Services
SNDA Computer Services
SOHU Computer Services
TZOO Computer Services
CTDC Computer Software
EFUT Computer Software
JNGW Computer Software
NINE Computer Software
SCR Computer Software
CDS Consulting
KUN Consumer Goods
BNSO Electronics
RCH Engineering
NOEC Fertilizer
CNOA Foods
NWD Foods
SYUT Foods *
PWRD Gaming Operations
LVS Gaming Operations *
MPEL Gaming Operations
WYNN Gaming Operations *
CHDX Healthcare Equipment
CMED Healthcare Equipment *
TBV Healthcare Equipment *
HMIN Hotels - China *
FXI Index
LFC Insurance
BIDU Internet Services
CHEUY Investments
FSIN Investments
JADE Jewelry
MHJ Jewelry
AOB Major Pharmaceutical
GTEC Major Pharmaceutical *
WX Major Pharmaceutical
ATV Manufacturing
FFHL Manufacturing
HIHO Manufacturing
XFML Media Production
CBAK Mfg - Batteries
DSWL Mfg - Plastics (new)
CPSL Mfg - Steel
GSI Mfg - Steel
TCM Mfg-Chinese Medicine
JRCC Mining - Minerals
YZC Mining - Minerals
PKX Mining - Steel & Iron
ATC Motor Vehicles *
CAAS Motor Vehicles
CYD Motor Vehicles *
CEO Oil and Gas
CHNG Oil and Gas *
PTR Oil and Gas *
SHI Oil and Gas
SNP Oil and Gas
CTRP Personal Services
XNYH Printing Services
EJ REITs - China
CSCT Security - China
ACTS Semiconductors
SIMO Semiconductors *
SMI Semiconductors
SPRD Semiconductors
YGE Semiconductors
JASO Solar Energy
CNUV Solar Energy
CSIQ Solar Energy
LDK Solar Energy *
TSL Solar Energy *
CSUN Solar Energy *
SOLF Solar Energy
STP Solar Energy
CHN Specialty Funds
GCH Specialty Funds
JFC Specialty Funds
TDF Specialty Funds
SGZI Staffing Services
CPBY Tech - Satellites (new)
YTEC Technology-Banking *
ATS Telecommunications
CHA Telecommunications
CHCG Telecommunications
CHL Telecommunications
CHT Telecommunications
CHU Telecommunications
CN Telecommunications
CNTF Telecommunications
COGO Telecommunications
GRRF Telecommunications
HRAY Telecommunications
INTN Telecommunications
LTON Telecommunications
NTE Telecommunications
QXM Telecommunications *
TSTC Telecommunications
WIN Telecommunications
XING Telecommunications
EDU Training Software
GSH Transportation
HUWHY Transportation
WAB Transportation
UTVG Travel Services
HNP Utilities
GXPI +17% printing .08
CAJT Captures Its Largest Charter Partnership as New World Aviation Adds over $288 Million in Aircraft Booking Inventory, Tripling the CAJT Booking Ability.
Wednesday September 12, 6:00 am ET
CAJT Additionally Reports over 2500 Booking Requests Received, Showing an Increase of 250 Percent in 5 Days.
AUSTIN, Texas--(BUSINESS WIRE)--Connect-A-Jet.com, Inc. (PINK SHEETS: CAJT - News), an online innovator of private jet travel and charter, announced today that it has captured its largest charter partnership as New World Aviation (NWA), a nationally recognized charter operator, charter management and aircraft maintenance organization, has entered into a charter partnership joining the CAJT flight reservation platform. The NWA organization will increase the CAJT booking ability by over $288M in aircraft booking inventory, tripling its present booking ability.
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CAJT has additionally reported that it has now received over 2500 detailed charter requests, which represents a growth of over 250 percent in a 5 day period. (Charter requests received by CAJT are submitted by customers both nationally and internationally seeking to book private jet travel utilizing the CAJT network of charter operators.)
"Although every charter partnership held by our organization is equally valued, New World Aviation represents the largest aircraft fleet and fleet value CAJT has added via its charter partnership program. It is of opinion that the successful future of our organization will be built upon many key elements including the partnerships developed with each operator and we will therefore continue to target our charter development program towards America's largest and most reputable operators like NWA. Adding NWA has brought exposure and creditability to our purpose within the industry as a growing organization with a passion to deliver excellence in all areas of private air travel," stated Martin Cantu, CEO of Connect-A-Jet.com, Inc.
ABOUT NEW WORLD AVIATION (www.newworldaviation.com)
To understand NWA's approach to aviation, simply picture what you enjoy doing most. This is how they feel about flying. It is their profession, their passion, and fuels unequalled dedication that permeates all levels of their company.
Since commencing operations their exacting standards have earned them a leader's reputation in worldwide charter, aircraft management, maintenance support, avionics and sales. New World Aviation has a team of highly specialized professionals comprised of experienced pilots, courteous flight attendants, maintenance and avionics teams and additional stellar support personnel. The expertise and commitment of their people, combined with their ever-expanding fleet of aircraft, make New World Aviation one of the nation's fastest growing aviation companies.
The NWA client list, held in strict confidence, is a prestigious group that includes investment bankers, executives, entertainers, entrepreneurs and a host of well-known celebrities. Each guest is special, each flight unique; however, there is a bond shared by all.
ABOUT CONNECT-A-JET
For the first time in aviation history, CAJT will unite all existing worldwide charter operators in the United States to operate under one efficient, real-time, online booking system. Customers across the globe will be able to book charter on every private aircraft in flight which meets their particular travel criteria. CAJT will also coordinate all ground transportation, in-flight catering, and will provide real-time flight tracking 24 hours for passengers' convenience.
Connect-A-Jet.com (CAJT) was designed to eliminate the world of private jet charter brokers and, for the first time in history, allow customers to directly access aircraft operators through one online portal. CAJT intends to single-handedly revolutionize the way the entire world travels by private aircraft.
To learn more about Connect-A-Jet or book a charter flight, please visit
Connect-A-Jet (CAJT) Announces: JetSmart Signs Affiliate Charter Partnership Agreement Adding over $30 Million in Aircraft Booking Inventory to CAJT Reservation Platform.
Tuesday September 11, 6:45 am ET
AUSTIN, Texas--(BUSINESS WIRE)--Connect-A-Jet.com, Inc. (PINK SHEETS: CAJT - News), an online innovator of private jet travel and charter, announced today that JetSmart, Inc. (JetSmart), a leader in private jet charter, has signed an affiliate partnership agreement to immediately begin implementing the CAJT reservations platform for its aircraft fleet. As a direct result of the described agreement, CAJT has captured an additional $30M in aircraft booking inventory onto its reservation platform.
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Anthony Linder, Director of Business Development of JetSmart, Inc., stated, "Utilizing the rapidly growing and revolutionary concept that Connect-A-Jet has introduced into the market will bring tremendous exposure to our fleet. We are excited to have entered into agreement with CAJT and are thoroughly optimistic about the future of our two organizations," stated Anthony Linder, Director of Business Development, JetSmart, Inc.
JetSmart will immediately become an affiliate partner of the CAJT network of approved charter operators allowing CAJT charter agents to book passenger requests within its fleet of aircraft. CAJT will receive compensation for all flights booked as well as any additional fees set forth prior to specific flights.
"It is always a compliment to our organization when a charter operator such as JetSmart elects to utilize our software platform. We are excited to bring additional exposure to their fleet as well as increase our booking abilities by the aforementioned figures. Increasing the number of our partnered charter operators brings an expanded booking capability which in turn produces additional revenue and bottom line results for the CAJT organization," stated Martin Cantu, CEO of Connect-A-Jet.com, Inc.
ABOUT JETSMART (www.jetsmartinc.com)
At JetSmart, an ARG/US GOLD status charter operator, their focus is based on attention to a customer's personal needs and safety. Their staff has worked directly with corporate flight departments for over a decade providing the highest standards demanded in the aviation industry. JetSmart provides several options to meet every corporate aviation client's goals. JetSmart will tailor a program specifically for a client's personal or business travel needs.
ABOUT CONNECT-A-JET
For the first time in aviation history, CAJT will unite all existing worldwide charter operators in the United States to operate under one efficient, real-time, online booking system. Customers across the globe will be able to book charter on every private aircraft in flight which meets their particular travel criteria. CAJT will also coordinate all ground transportation, in-flight catering, and will provide real-time flight tracking 24 hours for passengers convenience.
Connect-A-Jet.com (CAJT) was designed to eliminate the world of private jet charter brokers, and for the first time in history, allow customers to directly access aircraft operators through one online portal. CAJT intends to single-handedly revolutionize the way the entire world travels by private aircraft.
To learn more about Connect-A-Jet or book a charter flight, please visit: www.connectajet.com.
Disclaimer:
Hi, yes I agree the move to the AMEX is big and I think people will migrate to the board on the news and PPS movement. This one has slipped underneath the radar of most traders. I think the board info. needs to be updated, I will try to get to it next week as I am headed to the coast for a few days.
Neuralstem Shares Accepted for Trading on Amex(R)
Friday August 24, 8:00 am ET
ROCKVILLE, Md., Aug. 24 /PRNewswire-FirstCall/ -- Stem cell company Neuralstem, Inc. (OTC Bulletin Board: NRLS - News) today announced that its shares have been accepted for listing on the American Stock Exchange® (Amex®) under the symbol CUR. Neuralstem shares are expected to begin trading on Amex on August 27, 2007.
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"Moving to the Amex is the next logical step for Neuralstem. It is a result of the continuous and significant progress the company has made in each and every phase of its activity, and of an increasing awareness of the company and its prospects on the part of the financial community," said Richard Garr, Neuralstem President and Chief Executive Officer.
The approval is contingent upon the company being in compliance with all applicable listing standards on the date its stock begins trading on the Amex® and may be rescinded if the company is not in compliance with such standards.
About Neuralstem
Neuralstem's patent-protected technology enables, for the first time, the ability to produce neural stem cells of the human brain and spinal cord in commercial quantities, and the ability to control the differentiation of these cells into mature, physiologically relevant human neurons and glia. The Company expects that its first Investigational New Drug (IND) application will be for the treatment of Ischemic Paraplegia, a form of paraplegia that sometimes results from the surgery to repair aortic aneurysms and for which there is no effective treatment The Company hopes to submit its initial IND application to the FDA and begin its first human trial during calendar year 2007.
Major Central Nervous System diseases targeted by the Company with research programs currently underway include: Ischemic Paraplegia, Traumatic Spinal Cord Injury, ALS, and Parkinson's disease. The company's cells recently extended the life of rats with ALS (Lou Gehrig's disease) in a paper published in the journal TRANSPLANTATION, and were deemed viable for continued work in neurodegenerative spinal conditions. Neuralstem cells also recently reversed paralysis in rats with Ischemic Spastic Paraplegia, a form of paralysis that can result from the surgery to repair aortic aneurysms, as reported in NEUROSCIENCE (http://www.neuroscience-ibro.com/). The company has also developed immortalized human neural stem cells for in-vitro use in drug development for the academic and pharmaceutical markets. For further information, please visit http://www.neuralstem.com.
Cautionary Statement Regarding Forward Looking Information
RNWK Viacom's MTV and RealNetworks join forces: report
Tuesday August 21, 5:35 am ET
NEW YORK (Reuters) - Viacom Inc's (NYSE:VIA-B - News) MTV Networks is expected to on Tuesday announce plans to merge its online digital music offerings into a joint venture with music software company RealNetworks Inc (NasdaqGS:RNWK - News), the Wall Street Journal reported.
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The newspaper's online edition, citing people familiar with the matter, said MTV and RealNetworks, which runs subscription digital-music service Rhapsody, are joining forces in a bid to create stiffer competition for Apple Inc's (NasdaqGS:AAPL - News) iTunes online music store.
Neither Viacom or RealNetworks could immediately be reached for comment.
Verizon Wireless, a venture of Verizon Communications Inc (NYSE:VZ - News) and Vodafone Group Plc (LSE:VOD.L - News; NYSE:VOD - News), is expected to supply mobile distribution for the joint venture's digital content, the newspaper said, citing one of its sources.
The pact with Verizon Wireless could bolster the new venture's battle against iTunes, the Journal said, after Apple drew widespread criticism from mobile operators and consumers when it made AT&T Inc (NYSE:ATT - News) the sole U.S. provider of its iPhone.
The pact with RealNetworks likely means the end of MTV's Urge, a digital service launched last year with Microsoft Corp (Nasdaq:MFST - News), the Journal reported.
Sounds like were on the same page.
Invester99 followed up and the revealed the relevant parts, the other part of my converstation had to do with L2I ane he wasn't much help.
That is what he told me also and the later part of your post is why I wanted people to call and confirm on their own.
I posted the info. so that persons that are interested could call if they desire. I have my own concerns and interest that may be different than yours. As with my previous post about the L2I Lgace connection it took a few phone calls and an email that confirmed it. I see some others have followed up and also confirmed it.
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