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American Video Teleconferencing Corp. (OTCPK:AVOT)
American Video Teleconferencing Corp. (Pink Sheets:AVOT) is pleased to announce that it is presently in final discussions to enter into a formal agreement to acquire an exclusive option on a molybdenum property in the Otter lake area in the province of Quebec, Canada. The property has been dormant since the 1960’s when Hupon Mining and Exploration carried out surface work, stripping, trenching and a minor drill program of 445 feet contained in 11 drill holes. Some of the sample results from the trenching in 1962 showed 0.94% to 25% molybdenum averaging 5-10%. These values were obtained from assessment files in the Department of Mines in Quebec City.
This property is only one of several advanced stage properties the company has under consideration in the province of Quebec.
China has been one of the main supplier to the US of the Earth’s rare mineral supplies, with these rare minerals American manufacturers are able to make high-tech products such as cell phones, wind turbines, and guided missiles but all that might come to a screeching halt now that China has stopped supplying the material, the New York Times has reported.
In the wake of China’s decision America now must look for other sources, that will be more reliable for our future needs, and American Video Teleconferencing Corp. (OTCPK:AVOT) may just be the new source, here’s why.
American Video believes the rare earths industry is where it wants to maintain a very strong focus and is looking to expand its holdings. It is currently looking for these Rare Earths Minerals in Canada, the US’s Northern neighbor.
China has started to drastically reduce the exports of rare-earth materials, which frequently are used in “green” technology designs, including hybrid vehicles and energy-efficient lighting, as well as in the healthcare, defense, and consumer markets. The nation supplies nearly 100% of the world’s rare-earth materials: 17 metals which are difficult to refine and that tend to occur in the same ore deposits. The cutbacks have sent shock waves through the electronics industry and could force design changes in the near future.
Majestic Gold Corp. (TSX-V:MJS) is pleased to announce that Wardrop, A Tetra Tech Company, (”Wardrop”) has completed and delivered a positive Preliminary Assessment (”PA” or “Preliminary Assessment”) for the Songjiagou Gold Project located in Shandong Province, People’s Republic of China.
– Net Present Value of US $525 million using a 10% discount rate
– Internal Rate of Return of 78.6%
– Payback in 1.4 years
– Total gold production of 2.324 million ounces (average 105,645 oz/yr)
– Life-of-Mine strip ratio 1.87 : 1 (waste to ore)
– Mine-Life of 22 years.
“The Preliminary Assessment provided by Wardrop has exceeded our expectations and will form the basis for our continued development of the Songjiagou project,” stated Rod Husband, President and CEO of Majestic Gold Corp.
A summary of the main sections of the Preliminary Assessment are as follows:
In 2006, Wardrop prepared a National Instrument 43-101 (NI 43-101) compliant, resource estimate of the Songjiagou deposit. On the basis of additional data collected during 2006, Wardrop prepared an updated estimate in late 2007.
In April 2010 Wardrop completed an update of the 2007 resource estimate to take into account assay results from surface core drilling and trenching that were carried out during 2007, as well as depletion from surface mining since the time of the last estimate. Depletion attributable to underground mining during the same interval was negligible.
The April 2010 updated resource estimate was made using an un-rotated block model, which is to say the blocks in the model were oriented orthogonally east-west and north south. In October 2010, Majestic requested that the estimate be redone using a block model rotated parallel to the trend of the deposit as well as a lower cutoff (0.3 g/t versus 0.4 g/t gold).
Patriot Coal Corporation (NYSE:PCX) will announce results for the quarter and year ended December 31, 2010. A conference call with management is scheduled for 10:00 a.m. Central Standard Time on Tuesday, February 1.
Patriot Coal Corporation engages in the production and sale of thermal coal in the United States. It has operations and coal reserves in Appalachia and the Illinois basin.
San Juan Basin Royalty Trust (NYSE:SJT) declared a monthly cash distribution to the holders of its units of beneficial interest of $4,008,923.07 or $0.086012 per unit, based principally upon production during the month of November 2010. The distribution is payable February 14, 2011, to unit holders of record as of January 31, 2011.
San Juan Basin Royalty Trust operates as an express trust. The trust has a 75% net overriding royalty interest carved out of Burlington Resources Oil & Gas Company LP?s oil and gas leasehold and royalty interests (the underlying properties) located in the San Juan Basin in northwestern New Mexico.
Solutia Inc. (NYSE:SOA) announced it will issue financial results for the fourth quarter and full-year of 2010 on Wednesday, January 26, 2011, after the market closes. The company will then hold a conference call at 9:00 a.m. Central Time (10:00 a.m. Eastern Time) on Thursday, January 27, 2011, during which Solutia executives will elaborate upon the company's fourth quarter and full-year 2010 financial results.
Solutia Inc. engages in the manufacture and marketing of various chemical and engineered materials used in the consumer and industrial applications. It operates in three segments: Saflex, CPFilms, and Technical Specialties.
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