Mitel Networks Corp. (Nasdaq:MITL) a leading provider of unified communications software solutions, announced its financial results for the second quarter of fiscal 2011 ended October 31, 2010. All financial results are in U.S. dollars.
- Revenue for the second quarter of fiscal 2011 was $161.1 million, compared to $162.4 million for the second quarter of fiscal 2010.
- Adjusted EBITDA (as defined below) for the second quarter of fiscal 2011 was $18.2 million, compared to $22.0 million for the second quarter of fiscal 2010.
- Cash and cash equivalents as of October 31, 2010 were $90.0 million, up 6 percent compared to the end of the first quarter of fiscal 2011.
- Operating cash flows for the second quarter of fiscal 2011 were $7.4 million, an increase of $10.9M over the second quarter of fiscal 2010.
Mitel Networks is a global provider of business communications solutions and services, consisting of unified communications and collaboration software applications, IP telephony platforms, mobility applications and managed and network services.
Anadigics, Inc. (Nasdaq:ANAD) - Demonstrating its key role in helping drive the most advanced 3G and 4G mobile devices, ANADIGICS announced that its power amplifiers have been selected by Samsung for their highly anticipated GALAXY Tab product. ANADIGICS' AWC6323 power amplifier (PA) is used in the Samsung GALAXY Tab offered by Sprint and Verizon Wireless in the United States, and ANADIGICS' AWU6601 PA powers the Samsung GALAXY Tab in the Korean market. Both PAs are part of the ANADIGICS High-Efficiency-at-Low-Power (HELP™) portfolio of products that enhance the performance and efficiency of 3G devices.
ANADIGICS, Inc. delivers integrated radio frequency (NYSE:RF) solutions that OEMs and ODMs demand to optimize the performance of wireless, broadband and cable applications across all major networks and standards.
Global Hunter Corp. engages in the acquisition, exploration, and development of mineral properties in Canada and Chile. Global Hunter Corp. primarily explores for gold, copper, and base and precious metals. Global Hunter Corp. was founded in 1988 and is headquartered in Vancouver, Canada.
Rabbit South, BC Project
Global Hunter's Rabbit South molybdenum project is located within a prolific mining region in the Dominic and Roper Lake area, 27 kilometres west-southwest of the city of Kamloops British Columbia. The property is accessible year round by a combination of highway and logging roads. Rabbit South is situated 25 kilometres northeast of Highland Valley, BC's largest porphyry copper mine (1.4 billion tonnes @ 0.40% Cu) and 12 kilometres southwest of Afton, BC's richest porphyry copper mine (107Mi tonnes @ 1.05% Cu, 0.70g/t Au).
The area has been the subject of molybdenum exploration dating back to 1960. Between 1979 and 1981 an extensive exploration program including 69 percussion drill holes and 10 diamond drill holes identified the Roper Lake Molybdenum Target. A non-code-complaint resource of 65 million tonnes at 0.065% of Molybdenum was identified in two zones. Zone A measures 600 metres in length and is 300 meters wide by 60 metres deep, while Zone B has been outlined for 500 metres in length, 400 metres in width and 70 metres in depth.
Additional drilling by Global Hunter has confirmed the existence of extensive near-surface molybdenum mineralization and efforts to correlate previous drill results and to complete an updated resource estimate are underway. Initial results indicate the system is capable of producing much higher grade Mo mineralization on a small scale. It remains to be determined if the system can do that on a deposits-scale.
Rabbit South Highlights:
- 1,900 hectares 26km from Kamloops, British Columbia, between the Afton and Highland Valley copper mines
- 86 holes drilled on property from 1979 to 2005
- Two large target areas identified
- Recent drilling confirms presence of wide-spread near-surface molybdenum mineralization
To learn more about Global Hunter visit: http://www.globalhunter.ca
Majestic Gold Corp. engages in the exploration and development of mineral properties in China. Majestic focuses on its gold project located in the prolific gold region of Song Jiagou in eastern Shandong Province. Majestic is headquartered in Vancouver, Canada.
Sale of Assets 2009: On April 21, 2009, Majestic announced that it had negotiated an agreement to sell its 72% joint venture interest in the Sawayaerdun gold project in Tianshan Province, China to its Chinese co-venturers for approximately C$7,350,000.
The purchasers, Xinjiang Baodi Mining Ltd. and Brigade No. 2 of Xinjiang Geography & Mine Exploration and Development Bureau, are the Company's dual partners in Xinjiang Majes Mining Inc., the Chinese joint venture company originally established to develop the Sawayaerdun project. On May 14, 2009, the agreement was granted final acceptance by the TSX Venture Exchange.
Location: The Sawayaerdun Gold Project is located 200 kilometers northwest of Kashi in the western region of Xinjiang Province, China. The property is located in the prolific Tian Shan Gold Belt which hosts numerous world class gold deposits including Muruntau (140,000,000 oz Au) and Kumtor (13,900,000 oz Au). Gold deposits in this belt are commonly structurally controlled, occurring along fault/shear zones within metamorphosed sedimentary rock.
- Historical Resource* >3.0 Mi oz Au reported on license (*not NI 43-101 compliant)
- Includes >1.4 Mi oz Zone IV
- Proven geological model - in prolific gold belt
- Immense gold system (>5km X >2km)
- Over 120 trenches identifying 22 gold zones on surface
- 4 main zones with combined surface trace over 11.5 km
- Previous trenching and drilling results demonstrated good continuity of gold mineralization laterally and down dip
To learn more about Majestic visit: http://www.majesticgold.net
BioScrip Inc. (Nasdaq:BIOS) - Pharmacy benefits manager BioScrip Inc. announced recently that David Froesel Jr. will replace Stanley Rosenbaum as its chief financial officer and treasurer. The move is effective Wednesday December 1, 2010, the company said. BioScrip said Rosenbaum will leave the company before the end of the year, but did not disclose a reason for his departure. Rosenbaum has been BioScrip's CFO and Treasurer since June 2006.
BioScrip, Inc., a specialty pharmaceutical healthcare organization, provides medications and management solutions for chronic and other healthcare conditions in the United States.
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