American Video Teleconferencing Corp. (OTCPK:AVOT)
China is the world's biggest producer of rare earth elements, most are used in today's technologies, which include new energy sources and hybrid cars. It announced in July that it will cut exports for minerals used to make hybrid cars and televisions by 72 percent during the 2nd half of the year.
China has begun to severely reduce the exports of rare-earth materials, which often find use in “green” technology designs, including hybrid vehicles and energy-efficient lighting, as well as in the medical, defense, and consumer markets. The nation delivers nearly 100% of the world’s rare-earth materials: 17 metals which are somewhat difficult to refine and that often occur in the same ore deposits. The cutbacks have contributed to shock waves through the electronics industry and could force design changes in the near future.
Restrictions on Chinese exports are generating opportunities for non-Chinese projects.
AVOT is seeking a contractor to do an air borne Mag-EM radiometric survey for its present holdings and the immediate surrounding area looking for future acquisitions. AVOT is pleased to be working in the Province of Quebec as it is rated the number one jurisdiction in the world to carry out mineral exploration. The Quebec Government gives a rebate up to 45% for property expenditures.
Presently AVOT is in the final stage of negotiations with Kondor Gold Pyt. in Australia.
AVOT is aggressively carrying out searches world-wide for opportunities in Precious, Base and Rare Earths metal projects.
In other company news, American Video Teleconferencing Corp. recently announced that it has signed an option agreement to acquire two claim blocks in townships of Mekinac and Lajuene, Province of Quebec. These claim blocks are approximately 3600 acres in total and are located 120 miles east of Montreal P.Q. and 50 miles north of Three Rivers P.Q. They are accessible year round with infrastructure in the immediate vicinity. The claims adjoin a property that had one of the highest readings of Rare Earths in North America. Sampling in the 1950s gave readings of 48% combined Cerium, Lanthanum, Neoymium and Yttrium. That property has remained dormant for over 50 years but the new owners plan an extensive exploration program this fall. AVOT, after a lengthy search and after careful due diligence, believes this is going to be one of the most active areas for Rare Earths exploration and our holdings are in the same geological setting as the 48% Rare Earths showing. Rare Earths are in huge demand especially in the United States as China is closing off its exports of these strategic metals to less than 5% of its production. AVOT will aggressively continue to search world wide for opportunities in Precious, Base and Rare Earths metal projects.
Mercury Computer Systems, Inc. (Nasdaq:MRCY) announced that it is delivering embedded computing subsystems to General Atomics Aeronautical Systems, Inc. (GA-ASI) for use within the Lynx® Block 25 Dual Beam radar. The Dual Beam radar recently demonstrated dismount detection capability during flight tests using a Predator-class unmanned aircraft. During the flight tests, the Dual Beam radar was specifically evaluated for dismount (personnel walking or running) detection performance over its full field-of-regard. “We are happy to be able to contribute to the continued success of our long time customer, General Atomics Aeronautical Systems,” said Brian Hoerl, vice president of sales at Mercury Computer Systems, Inc. “Our subsystems support multiple generations of Lynx radars. We’ve delivered the performance improvements needed for new capabilities while supporting software portability across the generations.
Mercury Computer Systems, Inc. engages in the design, manufacture, and marketing of high-performance embedded, real-time digital signal and image processing systems and software for embedded, and other specialized commercial and defense computing markets.
Semtech Corp. (Nasdaq:SMTC) a leading supplier of analog and mixed-signal semiconductors, announced it has entered into an agreement in principle to settle all claims asserted against all defendants in the putative class action concerning the Company's stock option accounting practices captioned In re Semtech Corporation Securities Litigation, Case No. 2:07-cv-07114-CAS (C.D. Cal). The agreement in principle provides for the payment of $20 million by the Company. The agreement in principle contemplates the negotiation and execution of a final settlement agreement. The proposed settlement would fully resolve all claims against the Company, all current officers and directors of the Company named in the lawsuit, and certain former officers and directors of the Company named in the lawsuit. No parties admit any wrongdoing as part of the proposed settlement.
Semtech Corporation, together with its subsidiaries, engages in the design, development, manufacture, and marketing of analog and mixed-signal semiconductor products.*********************
Zions Bancorp. (Nasdaq:ZION) announced this month that CB&T associates have raised over $119,000 in support of the United Way in a statewide fundraising campaign. Associates in the branch network of over 100 California offices joined together in fundraising efforts such as payroll deductions, bake sales and raffles. This year's total surpasses last year's United Way fundraising amount of $102,680. "I am very proud of our employees' spirit of generosity," said Tory Nixon, executive vice president of the San Diego division for California Bank & Trust, "and I am truly moved by their enthusiasm and willingness to contribute their hard-earned dollars in support of their communities.
Zions Bancorporation, a multi bank holding company, provides various banking and related products and services in the United States. The company offers community banking services, including small and medium-sized business and corporate banking services; commercial and residential development, construction, and term lending services; retail banking services; treasury cash management and related products and services; residential mortgages; and trust management services.
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