American Video Teleconferencing Corp. (PINK: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 American Video has under consideration in the province of Quebec. Molybdenum is the 54th most abundant element in the Earth’s crust and the 25th most abundant element in the oceans, with an average of 10 parts per billion; it is the 42nd most abundant element in the Universe. The ability of molybdenum to withstand extreme temperatures without significantly expanding or softening makes it useful in applications that involve intense heat, including the manufacture of aircraft parts, electrical contacts, industrial motors and filaments.
Most high-strength steel alloys (example 41xx steels) contain 0.25% to 8% molybdenum. Despite such small portions, more than 43,000 tonnes of molybdenum are used as an alloying agent each year in stainless steels, tool steels, cast irons and high-temperature superalloys.
Douglas Lake Minerals Inc. (OTCBB:DLKM) is pleased to announce that the Commissioner for Minerals of Tanzania has confirmed the recording in the Central Register the transfer of 100% shares of each of the Prospecting License Nos. 6742/2010, 6743/2010, 6744/2010 and 6779/2010 from IPP Gold Limited to Douglas Lake Minerals Inc., and that such transfer has been duly recorded on the terms and conditions contained in such Prospecting Licenses.
These Prospecting Licenses, which cover an area of approximately 800 square kilometers, form Douglas Lake’s recently acquired Handeni Project. As previously announced, Douglas Lake Minerals has requested a geologist to prepare a Technical Report on the Handeni Project in accordance with the provisions of National Instrument 43-101 (”NI 43-101?) of the Canadian Securities Administrators. Upon receipt of the Technical Report Douglas Lake Minerals will file it on SEDAR at sedar.com.
On September 13, 2010 Canaco Resources announced significant new exploration developments including the identification of important new parallel trends of gold mineralization and discovery of a new mineralized zone five kilometres W/NW of the Magambazi Gold Discovery.
Douglas Lake Minerals is an emerging mineral exploration company focused on exploring mining opportunities in Tanzania.
Regal Entertainment Group (NYSE:RGC) announced that it has priced its previously announced offering that has been increased to $150 million aggregate principal amount of its 9.125% senior notes due 2018 (the “Notes”) at a price to the public of 104.5% of their face value. The Notes will constitute additional securities under the Indenture, dated as of August 16, 2010 (the “Indenture”), between the Company and Wells Fargo Bank, National Association, as trustee, pursuant to which the Company issued $275 million in aggregate principal amount of its 9.125% senior notes due 2018 on August 16, 2010 (the “Prior Notes”). The Notes will be treated as a single series with, and will have the same terms as, the Prior Notes and will be fungible with the Prior Notes.
Regal Entertainment Group, through its subsidiaries, operates a theatre circuit in the United States.
Templeton Global Income Fund, Inc. (NYSE:GIM) announced its regular monthly dividend from net investment income of $0.045 per share, payable on January 31, 2011, to shareholders of record on January 14, 2011 (Ex-Dividend Date: January 12, 2011). The Fund also announced that Sonal Desai, Ph.D., will join Michael Hasenstab, Ph.D., as a portfolio manager of Templeton Global Income Fund. Desai joined the firm as Director of Research for Franklin Templeton Fixed Income Group’s international bond department in October 2009 and has 16 years of industry experience. Hasenstab, who has been a member of the Fund’s management team since 2002, will continue as lead manager of the Fund.
Templeton Global Income Fund is a closed ended fixed income mutual fund launched by Franklin Resources Inc. It is managed by Franklin Advisers Inc. The fund invests in the fixed income markets across the globe.
Saks Incorporated (NYSE:SKS) announced it plans to close its Saks Fifth Avenue store located in the Cherry Creek Mall in Denver, Colorado on March 19, 2011. With the closing of the Denver store, the Company will have closed seven Saks Fifth Avenue stores since July 2010. The Company closed its Saks Fifth Avenue stores in Mission Viejo and San Diego, California; Southampton, New York; Portland, Oregon; Charleston, South Carolina; and Plano, Texas in 2010.
Saks Incorporated, together with its subsidiaries, operates fashion retail stores in the United States.
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