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 American Video has under consideration in the province of Quebec.
Rare earth elements have become irreplaceable in clean tech such as hybrid and electric car motors, high-efficiency light bulbs, solar panels and wind turbines. They also play a key role in defense technologies such as cruise missiles, radar and sonar and precision-guided weapons.
Experts warn that the U.S. depends upon China for almost its entire supply of rare earths, and has let its own rare earth production languish despite having about 15 percent of the world’s reserves. A draft of a Chinese rare earths plan for 2009-2015 states that China’s own industrial demand could soon lead to restrictions or bans on the export of rare earths.
The U.S. Geological Survey (USGS) has noted that 91 percent of U.S. consumption of rare earths came from China between 2005 and 2008.
Constraints on Chinese exports are creating opportunities for non-Chinese projects
American Video will aggressively continue to search world-wide for opportunities in Precious, Base and Rare Earths metal projects.
Majestic Gold Corp. (TSX.V:MJS) (FSE:MJT) is pleased to announce the results of an updated resource estimate on its Song Jiagou Mine.
As part of the ongoing assessment on the Song Jiagou Mine, Wardrop Engineering Inc. (”Wardrop”) has revised their previous resource estimate (NR 23 April, 2010) as a result of the revision to the contract mining costs (NR 30 September 2010) which allowed cut-off grades to be reduced from 0.40 g/t to 0.30 g/t and warranted a revision of the block model.
Subsequent to the initial resource estimate, Wardrop determined that rotating the block model perpendicular to drilling direction was the most favorable orientation to evaluate the deposit and to calculate the revised resource. The new cut-off grade and the re-orientation of the model significantly increased the overall size of the resource and the contained ounces of gold in both the inferred and indicated categories.
The revised resource is:
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Grade Au
Category Tonnes(i) (g/t)(ii) Contained oz Au
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Indicated 33,739,586 1.147 1,244,211
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Inferred 38,812,054 1.467 1,830,576
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(i)Calculations conducted using 0.30 g/t cut-off
(ii)Gold grades were capped at 40 g/t
The most significant changes from the previous estimate are:
– Increase in Indicated tonnes by 35.34% to 33,739,586 tonnes
– Increase in Indicated contained gold by 24.09% to 1,244,211 ounces
– Increase in Inferred tonnes by 37.96% to 38,812,054 tonnes
– Increase in Inferred contained gold by 7.48% to 1,830,576 ounces
The increase in the size of the resource from 53 to 72.5 million tonnes will very significantly reduce the strip ratios to be used as Majestic continues its engineering studies on the Song Jiagou mine. Wardrop will move forward now to re-evaluate a production pit design.
For More Information On Majestic Gold: www.majesticgold.net
Pride International Inc. (NYSE:PDE) announced that the company has reached agreement with Samsung Heavy Industries, Ltd. (SHI) for the construction of a fifth ultra-deepwater drillship, further expanding the company’s ultra-deepwater fleet size and drilling capabilities. Consistent with the company’s previous four ultra-deepwater drillships ordered since 2007, the new unit will be constructed on a fixed price basis at the SHI shipyard in Geoje, South Korea, with an expected delivery in mid-2013. The rig will be equipped with some of the most technically advanced well construction features available in the offshore drilling industry, addressing a suite of superior capabilities to meet the needs of clients.
Pride International, Inc. provides offshore contract drilling services to oil and natural gas exploration and production companies. It offers services through the use of mobile offshore drilling rigs in the United States and international waters.
Bristol-Myers Squibb Company (NYSE:BMY) will present at the Goldman Sachs Healthcare CEOs Unscripted conference Thursday, January 6, 2011, in New York. Lamberto Andreotti, chief executive officer, will make a presentation about the company at 8:00 a.m. EST.
Bristol-Myers Squibb Company, a global biopharmaceutical company, engages in discovering, developing, and delivering medicines that help patients prevail over serious diseases. The company focuses on areas of serious unmet medical need, such as affective (psychiatric) disorders, Alzheimer�s/dementia, cardiovascular (primarily atherosclerosis/thrombosis), diabetes.
W.R. Berkley Corporation (NYSE:WRB) will release its fourth quarter 2010 earnings after the market closes on February 2, 2011. A copy of the earnings release will be available on the company�s website. The company has scheduled its quarterly conference call with analysts and investors to discuss its earnings and other information on Wednesday, February 2, 2011 at 5:30 p.m. eastern time.
W.R. Berkley Corporation, through its subsidiaries, operates in the property casualty insurance business in the United States and internationally. The company operates in five segments: Specialty, Regional, Alternative Markets, Reinsurance, and International.
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