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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.
Americans use masses amounts of oil. Although we make up only 5% of the world’s population, the U.S. burns 25% of the Earth’s oil production. America characterizes the oil-dependent lifestyle.
Oil is the raw material that makes the functioning possible of nearly every element of the U.S. economy, directly or indirectly. It supplies 40% of the nation’s power supply—way above any other source. Oil gives power to our industries, gives heat to our buildings, and supplies the raw material for plastics, paints, textiles, and many more materials. But it is in our transportation that oil is most important.
Oil supplies 97% of the fuel consumed by America’s gigantic fleet of trucks, trains, planes, ships, buses and cars.
We have based our entire way of life on a non-renewable resource that may run out within the next 30 years. All other alternative energy sources will not be able to replace oil any time soon. But Americans continue on as if there is an endless supply of oil, as they buy bigger and more cars and drive longer distances from non energy-efficient suburban developments.
Proper Power & Energy, Inc. (OTC BB:PPWE.ob) a Tampa-based independent oil and gas exploration and production company, has announced that it has been approached by two independent financing groups and has submitted a $10 million private placement memorandum to each of them. These two groups are seeking domestic oil and gas production in light of the Middle East tensions.
“The timing to acquire oil and gas properties while gas prices are low couldn’t be better. Additionally, the availability of this funding for developing Proper Power’s Kentucky and Utah oil prospects will accelerate 2011 revenues and leasehold acreage growth dramatically. We anticipate feedback from both of the financing groups before the end of this month,” stated Andrew J. Kacic, President of Proper Power & Energy.
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