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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.
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).
Permian Basin Royalty Trust (NYSE:PBT) declared a cash distribution to the holders of its units of beneficial interest of $.119877 per unit, payable on February 14, 2011, to unit holders of record on January 31, 2011. Permian's cash distribution history, current and prior year financial reports and tax information booklets, a link to filings made with the Securities and Exchange Commission and more can be found on its website at http://www.pbt-permianbasintrust.com/.
Permian Basin Royalty Trust owns overriding royalty rights in mineral properties in the United States. It holds a 75% net overriding royalty interest in the Waddell Ranch Properties located in Crane County, Texas; and a 95% net overriding royalty interest in the Texas Royalty Properties in Texas.
International Paper Co. (NYSE:IP) will release fourth-quarter and full-year 2010 earnings on Thursday, Feb. 3, before the opening of the New York Stock Exchange. The company will host a webcast to discuss earnings and current market conditions at 10 a.m. ET (9 a.m. CT) that day. All interested parties are invited to listen to the webcast via the company's Internet site at http://www.internationalpaper.com by clicking on the Investors tab and going to the Webcasts and Presentations page. A replay of the webcast will also be on the Web site beginning approximately two hours after the call.
International Paper Company operates as a paper and packaging company with operations in North America, Europe, Latin America, Russia, Asia, and north Africa.
CNH Global NV (NYSE:CNH) announced the launch of the Case Triple Threat Rodeo Competition, a yearlong rodeo competition featuring Case loader/backhoes, wheel loaders and skid steers. The operators who win rodeo events at Case dealerships across North America will compete in a final event during the 2012 World of Concrete tradeshow to determine the champion. The grand prize winner receives a new Case compact track loader for the sponsoring company and a Ram truck for themselves. Fully loaded with a quick coupler, pilot controls and Ride Control, the compact track loader is valued at $59,000. The Ram 2500SLT truck features a 5.76 V8 Hemi and is valued at $42,000.
CNH Global N.V. engages in engineering, manufacturing, marketing, and distributing agricultural and construction equipment worldwide.
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