Northrop Grumman Corporation (NYSE:NOC) received a $323.6 million, cost plus incentive fee contract extension for continuation of work on the nuclear-powered aircraft carrier CVN 79.
The company's Shipbuilding sector in Newport News, Va. is the prime contractor. Work performed under this contract includes the continuation of ship design activities, procurement of long-lead-time materials to support construction and advanced construction work on select parts of the ship.
CVN 79 is the second ship of the new Gerald R. Ford class and has not yet been named. The Ford class will continue the legacy of highly capable U.S. Navy nuclear-powered aircraft carrier ship platforms. Enhancements incorporated into the design include flight deck changes, improved weapons handling systems and a redesigned island, all resulting in increased aircraft sortie generation rates. It will also include new nuclear power plants, increased electrical power generation capacity, allowance for future technologies and reduced workload for the sailors, translating to a smaller crew size and reduced operating costs for the Navy.
Northrop Grumman Corporation is a leading global security company whose 120,000 employees provide innovative systems, products, and solutions in aerospace, electronics, information systems, shipbuilding and technical services to government and commercial customers worldwide.
Majestic Gold Corp. (TSX.V:MJS) (FSE:MJT) is a Vancouver-based; TSX Venture Exchange and Frankfurt Exchange listed gold exploration and development company with a very advanced gold deposit in Shandong province of China. On April 23, 2010, the company released an updated NI 43-101- compliant, indicated and inferred gold resource estimate on its Song Jiagou property. At present, Majestic Gold Corp. is aggressively pursuing a pre-feasibility study. A recently announced agreement will increase Majestic's effective ownership from 54 to 94 % and has allowed the property to commence production at an initial rate of 1,400 tpd. With a contract that fixes operating costs and allows use of land and equipment, Majestic anticipates to have a positive cash flow, within a matter of months.
The Song Jiaguo Property is located on the Jiaodong Peninsula in Muping County, the Shandong Province, the People's Republic of China.
The property lies on the western edge of the Muping-Fushan Gold Belt, which hosts 20% of the known gold deposits on the Jiaodong Peninsula.
Gold production from the entire peninsula accounts for over 25% of China's annual gold production, presently estimated to be 288 tonnes or 9.3 M ounces.
Gold deposits in the belt are commonly controlled spatially by fault zones.
To the south of the property, the Pengjiakuang Gold Deposit (>650,000 oz) occurs in the same structural environment within Cretaceous Laiyiang conglomerates which underlie the Song Jiaguo Property.
China has a long history of gold production. As early as 1091 BC, gold was legalized as money (as an alternative to silk), circulating in little squares. Hebei province, one of the main mining areas, claims production for over three thousand years. The Zhao Yuan mine in Shandong province has been worked for over a thousand years; other Shandong mines date from the 17th century.
Compared to other countries, China's resource sector is relatively underdeveloped. A historical lack of investment capital and new technologies has prevented many of its quality properties from being fully explored or developed. China is now establishing an open policy to encourage foreign investment in gold exploration and mining. In March 2003, the National Development and Reform Commission (NDRC) was formed and soon established new regulations for exploration and mining licenses similar to those of Australia and North America.
For More Information On Majestic Gold : www.majesticgold.net
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