American Video Teleconferencing Corp. (AVOT)
In contradiction to their name, rare earth metals are not particularly rare but they tend to be present with other compounds and only in very small quantities, making mining them extremely cost inefficient. In the past, rare earth metals were not particularly valuable so mines that produced them generally were mining for other more valuable metals and produced rare earth metals as a by-product.
American Video Teleconferencing Corp. believes the rare earths industry is where it wants to maintain a very strong focus and is looking to expand its holdings.
As science progressed, the importance of rare earth metals grew. They are used as catalysts and as pigments for glass and ceramics. In addition, they are being used extensively in new “green technology” such as in hybrid car batteries and solar cells. They also have uses in miniature nuclear batteries, lasers repeaters, superconductors and magnets.
American Video Teleconferencing Corp. is normally known for its business and efforts of exploration in Rare Earth Elements. According to the Company, it aggressively continues to search world-wide for opportunities in Precious, Base and Rare Earths metal projects in its future strategies.
American Video Teleconferencing Corp. announced that Wayne Lockhart, BSc. Geology, has joined the company as special geological advisor to AVOT for advancing the company’s exploration programs on its newly acquired rare earth property in Quebec. Mr. Lockhart has over 35 years experience in the mining business having worked for Falconbridge and Phelps Dodge in eastern Canada, Anglo American Corp. (DeBeers) in Africa and Benguet Cons. in the Philippines.
Mr. Lockhart in addition to being a lecturer at the University of New Brunswick in Geology has developed programs for the United Nations (UNDP). Mr. Lockhart is an Honorary Director of the Prospector and Developers Association of Canada (PDAC), a founding and former member of the Association of Exploration Geochemists and a Member of the Society of Economic Geologists.
Global Hunter Corp. (BOB.V)
Global Hunter Corp. engages in the acquisition, exploration, and development of mineral properties in Canada and Chile. It primarily explores for gold, copper, and base and precious metals. The company was founded in 1988 and is headquartered in Vancouver, Canada.
Molybdenum is an important alloying agent which contributes to the hardenability and toughness of quenched and tempered steels. It also improves the strength of steel at high temperatures. It is used in certain heat-resistant and corrosion-resistant nickel-based alloys. Ferro-molybdenum is used to add hardness and toughness to gun barrels, boilers plates, tools, and armor plate. Almost all ultra-high strength steels contain 0.25% to 8% molybdenum. Molybdenum is used in nuclear energy applications and for missile and aircraft parts.
Global Hunter’s Rabbit South molybdenum project is located within a prolific mining region in the Dominic and Roper Lake area, 27 kilometres west-southwest of the city of Kamloops British Columbia. The property is accessible year round by a combination of highway and logging roads. Rabbit South is situated 25 kilometres northeast of Highland Valley, BC’s largest porphyry copper mine (1.4 billion tonnes @ 0.40% Cu) and 12 kilometres southwest of Afton, BC’s richest porphyry copper mine (107Mi tonnes @ 1.05% Cu, 0.70g/t Au).
The area has been the subject of molybdenum exploration dating back to 1960. Between 1979 and 1981 an extensive exploration program including 69 percussion drill holes and 10 diamond drill holes identified the Roper Lake Molybdenum Target. A non-code-complaint resource of 65 million tonnes at 0.065% of Molybdenum was identified in two zones. Zone A measures 600 metres in length and is 300 meters wide by 60 metres deep, while Zone B has been outlined for 500 metres in length, 400 metres in width and 70 metres in depth.
Molybdenum oxidizes at elevated temperatures. Some molybdenum compounds are used to color pottery and fabrics. Molybdenum is used to make filament supports in incandescent lamps and as filaments in other electrical devices. The metal has found application as electrodes for electrically-heated glass furnaces. Molybdenum is valuable as a catalyst in the refining of petroleum. The metal is an essential trace element in plant nutrition. Molybdenum sulfide is used as a lubricant, particularly at high temperatures where oils would decompose. Molybdenum forms salts with valencies of 3, 4, or 6, but the hexavalent salts are the most stable.
Global Hunter Corp. announced that it recently completed a surface sampling program at La Corona de Cobre. The program was designed to collect surface samples from the numerous prospective shear zones. This would aid in the definition of drill targets to expand on the copper oxide mineralization. The company has collected approximately 250 samples from the shear zones listed below.
The shear zones and areas of alteration that have been sampled (from East to West) include the following zones:
- El Manto.
- La Golondrina.
- Cerro Borracho.
- El Tazon.
- La Copa.
- La Varrilla.
- Et Tazon.
- Vino Fino.
- Abisinia.
The samples have been collected from outcrops along the entire strike lengths of the shears and will be shipped to ALS Chemex Labs in La Serena Chile for analysis.
For more information about Global Hunter Corp please visit http://www.globalhunter.ca
Allegheny Technologies Inc. (NYSE:ATI) reported net income for the first quarter 2011 of $56.3 million, or $0.54 per share. Results included a special charge of $3.1 million, net of tax, related to the accelerated recognition of equity-based compensation expense due to previously announced executive retirements. In addition, first quarter 2011 results included a discrete tax charge of $2.7 million primarily related to foreign income taxes. Excluding these charges, net income was $62.1 million, or $0.59 per share, on sales of $1.23 billion. In the first quarter 2010, ATI reported net income of $18.2 million, or $0.18 per share, on sales of $899.4 million. Results for 2010 included a non-recurring tax charge of $5.3 million related to the Patient Protection and Affordable Care Act. Excluding this non-recurring tax charge, net income was $23.5 million, or $0.24 per share.
Allegheny Technologies Incorporated produces and sells specialty metals worldwide. Allegheny Technologies was founded in 1960 and is based in Pittsburgh, Pennsylvania.
MBIA Inc. (NYSE:MBI) will host a webcast and conference call for investors on Wednesday, May 11, at 8:00 a.m. (EDT) to discuss its first quarter 2011 financial results and other issues related to the Company. The dial-in number for the call is (877) 694-4769 in the U.S. and (404) 665-9935 from outside the U.S. The conference call code is 61399832. The conference call will consist of brief comments on the first quarter 2011 financial results followed by a question and answer session for investors. MBIA’s first quarter financial results press release, the 10-Q filing and other disclosures will be posted on the Company’s website, www.mbia.com, prior to the start of the call. A replay of the call will be available approximately two hours after the completion of the call on May 11 until 11:59 p.m. on May 25 by dialing (800) 642-1687 in the U.S. or (706) 645-9291 from outside the U.S. The replay call code is also 61399832. In addition, a recording of the call will be available on the Company’s website approximately two hours after the completion of the call.
MBIA Inc., together with its subsidiaries, provides financial guarantee insurance and related reinsurance, advisory, and portfolio services, as well as investment management services to public finance and structured finance markets.
Watson Pharmaceuticals Inc. (NYSE:WPI) reported net revenue of $876.5 million for the first quarter ended March 31, 2011, compared to $856.5 million in the first quarter 2010. On a non-GAAP basis, net income for the first quarter 2011 was $111.9 million or $0.89 per share, an increase of 12 percent, compared to $100.3 million or $0.81 per share in the first quarter 2010. GAAP diluted earnings per share for the first quarter 2011 were $0.36, compared to $0.57 in the prior year period. Refer to the attached reconciliation tables for adjustments to GAAP earnings. For the first quarter 2011, adjusted EBITDA increased nine percent to $215.9 million, compared to $198.9 million for the first quarter 2010. Cash and marketable securities were $514.8 million as of March 31, 2011.
Watson Pharmaceuticals, Inc., a specialty pharmaceutical company, engages in the development, manufacturing, marketing, sale, and distribution of generic pharmaceuticals and specialized branded pharmaceutical products focused on urology and women’s health in the United States and internationally.
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