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.
Molybdenum is a metallic, silvery-white element which is very stable chemically but it will react with acids. The physical characteristic that makes molybdenum unique is that it has a very high melting point, 4,730 degrees Fahrenheit. This is 2,000 degrees higher than the melting point of steel. It is 1,000 degrees higher than the melting temperature of most rocks.
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.
This property is only one of several advanced stage properties American Video has under consideration in the province of Quebec.
Douglas Lake Minerals Inc. (OTCBB:DLKM), further to its news releases of November 23, 2010, is pleased to provide an update for its exploration targets for 2011.
Douglas Lake Minerals has recently filed a NI 43-101 Technical Report on its four 100% owned prospecting licenses which cover 800 square kilometers in the Handeni District of eastern Tanzania. This area recently has been recognized as an important gold district after the Magambazi gold find.
The 43-101 report details the first and second phases of exploration over the license area. In Douglas Lake Minerals' November 23rd release it was disclosed that the first phase airborne geophysical survey effectively outlined the folded and faulted geologic terrain as well as five prominent Northwest-Southeast trending shear zones that extend through the Douglas Lake ground. The second phase work program concentrated on collecting and analyzing soil geochemical samples on both detailed grids as well as reconnaissance style control lines across the large project area.
Historically, the region has seen only small-scale artisanal workings which originally allowed explorers to focus on the Magambazi prospect. Now the Handeni region is recognized to be one of the prime exploration targets for gold in Tanzania. On September 13th 2010, Canaco Resources Inc. (TSX.V CAN) announced that regional soil sampling had outlined a total of two North-Westerly parallel trends of gold mineralization on their license area. The two trends, which include the Magambazi mineralization, are said to have a combined strike length of 15 kilometers.
Within the second phase of work, outlined in Douglas Lake Minerals' 43-101 report, portions of the five northwest-southeast shear zones were tested by widely spaced soil sample profiles. The results indicate linear anomalous gold trends in soil that are coincident with the Northwest-Southeast structures as outlined by geophysics. In total, the soil program was successful in outlining gold trends that have a combined strike length of over 40 kilometers on the Douglas Lake ground.
"The Handeni Gold Trend that was initially reported by Canaco has been significantly extended by the work on the Douglas Lake ground", reports Harp Sangha CEO. "Our results indicate that there is a lot more to this area."
Douglas Lake Minerals is an emerging mineral exploration company focused on exploring and developing mining opportunities in Tanzania.
Unifi Inc. (NYSE:UFI) announced that it has terminated its cash tender offer (the "Tender Offer") for any and all of its outstanding 11-1/2% Senior Secured Notes due 2014 (CUSIP No. 904677AG6) (the "Notes") and its related consent solicitation of holders of the Notes to authorize the elimination of most of the restrictive covenants and certain of the events of default contained in the indenture governing the Notes (the "Indenture") and the release of the security for the Notes (the "Consent Solicitation"). The Tender Offer and Consent Solicitation were made pursuant to the Company's Offer to Purchase and Consent Solicitation Statement, dated December 28, 2010 and the related Letter of Transmittal and Consent.
Unifi, Inc., together with its subsidiaries, produces and processes multi-filament polyester and nylon yarns, including specialty and premier value-added yarns.
First Trust Fidac Mortgage Income Fund (NYSE:FMY) has submitted its notice of resignation, effective April 30, 2011, as the investment sub-advisor to First Trust/FIDAC Mortgage Income Fund. Until April 30, 2011, FIDAC will continue to serve as the Fund’s investment sub-advisor. First Trust Advisors L.P. (“First Trust”), the Fund’s investment manager, is currently evaluating the impact of FIDAC’s resignation on the Fund and is assessing alternatives to ensure continuity of portfolio management for the Fund. First Trust has served as the Fund’s investment manager since the Fund’s inception and will continue to serve in such capacity following FIDAC’s resignation.
CDI Corp. (NYSE:CDI) announced that Roger H. Ballou, President and Chief Executive Officer, will retire effective today and will be succeeded by Paulett Eberhart who joins the company as the new President and Chief Executive Officer. "CDI conducted an extensive search selecting Paulett Eberhart from a field of very talented executives. Paulett is an ideal choice because of her strong execution skills, her ability to lead high-performing teams and her proven track record in creating high-value solutions for clients," commented Walter Garrison, Chairman of the CDI Corp.
CDI Corp. provides engineering and information technology outsourcing solutions and professional staffing services primarily in the United States, the United Kingdom, and Canada.
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