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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.
Cleantech Transit Inc. (”Cleantech”) (OTC.BB:CLNO) announced recently that funding to be provided to Phoenix Energy for the commercialization of a 500 Kilowatt biomass gasification plant should be eligible to apply for a renewable energy cash back incentive program offered by the U.S. Federal Government. If it concludes its planned investment in Phoenix Energy, under Section 1603 of the American Reinvestment and Recovery Act, Cleantech Transit will be entitled to receive its pro-rata share of 30% cash grant payments. Once the final interconnect process and application are complete the grant should be received within 60 days. The 5-year grant vesting period, means all parties must remain owner of record for that length of time, underscoring Cleantech and its partners’ commitment to this project and the host community.
The U.S. Treasury’s cash grant program was created to provide funding, in lieu of tax credits, for the development of clean energy projects and clean tech jobs nationwide. The Merced facility has already employed several individuals, both for the construction phase and subsequent plant operations once in service.
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