ReneSola Ltd. (NYSE:SOL) a leading global manufacturer of solar products, announced the completion and grid connection of the Company’s 20 megawatt (”MW”) solar power plant in Wulan County in Qinghai, China with the Company providing all 20 MW of solar modules. The solar power plant is the first of its kind for ReneSola.
ReneSola is a leading global manufacturer of solar wafers and producer of solar power products based in China .
Pfizer Inc. (NYSE:PFE) announced that a Phase 3 study for Lyrica (pregabalin) in patients with Restless Legs Syndrome (RLS) met each of its three co-primary endpoints, showing significant benefit as compared with placebo and pramipexole. Pfizer will continue to further analyze these top-line results.
At Pfizer, we apply science and our global resources to improve health and well-being at every stage of life. To learn more about our commitments, please visit us at www.pfizer.com.
Majestic Gold Corp. (MJGCF.PK)
Majestic Gold Corp. engages in the exploration and development of mineral properties in China. The company focuses on its gold project located in the prolific gold region of Song Jiagou in eastern Shandong Province. Majestic Gold Corp. is headquartered in Vancouver, Canada.
Because of gold’s inertness some 80% of gold within ore is in its elemental state. There are several processes for extracting, and then purifying it.
Amalgamation is a mercury based process which works because of gold’s willingness to be dissolved by mercury. The mercury is applied on an ore, picks up the gold, and the resulting amalgam is distilled, with the mercury being boiled off to remove it. Mercury is highly toxic and therefore environmentally sensitive, making the industrial plant to perform this type of extraction expensive.
The most important process for gold extraction is cyanidation. Sodium cyanide solution in the presence of air causes gold to enter into solution. Good quality ores give up their gold under cyanidation in what is called vat leaching. Lesser quality ores require heap leaching, which involves huge piles of ore being repeatedly re-sprayed with the cyanide solution over a prolonged period.
Relatively raw gold is purified in two main ways. The cheaper first stage of purification is the Miller process which uses chlorine gas and reaches purification of 99.5%, and then there is the more expensive Wohlwill process which electrolyses gold to purities of 99.99%.
Majestic Gold Corp. (MJGCF.PK) has arranged a $10,000,000 loan to advance its Song Jiagou project in China. Nine million dollars ($9,000,000) from the proceeds from the loan will be used by the Company to in connection with its Song Jiagou project and the balance of one million dollars ($1,000,000) for general working capital purposes.
The loan will have a one year term and loan principal will be convertible at the option of the lender in whole or in part into common shares (”Shares”) of the Company until twelve months from the date of the loan advance at the price of $0.205 per Share. The loan will bear interest at the rate of 7.5% per annum, payable on maturity, and accrued and unpaid interest will be convertible at the option of the lender in whole or in part into shares of the Company until twelve months from the date of the loan advance at Market Price at the time of conversion.
The lender is at arm’s length from the Company and will not become an insider as a result of any conversion of principal and interest. All shares issued on any conversion of loan principal or interest will be subject to a four month hold period from the date of advance of loan proceeds. The loan is subject to acceptance by the TSX Venture Exchange.
As additional consideration for the loan, the Company has agreed to forward at least $9 million to Majestic Yantai Gold Ltd., a British Virgin Islands company owned 94% by the Company to be used to further advance its Song Jiagou project. The Borrower has also agreed to a 90 day period for reciprocal due diligence reviews and discussions for the possible further involvement of the Lender in the Song Jiagou project.
In the event that no further agreement is reached between the Lender and the Company during the 90 day period, then the loan and a minimum of seven (7) months interest will automatically convert to shares in the Company at a price of $0.205 per share and the interest at Market Price respectively. In addition the Company is pleased to announce that it has arranged a non-brokered private placement of up to 15,000,000 shares to be issued at the price of $0.20 per share for gross proceeds of $3,000,000.
For more information about company: www.majesticgold.net
Eli Lilly and Company (NYSE:LLY) will announced its financial guidance for 2012 on Thursday, January 5, 2012 and, separately, will announce its financial results for the fourth quarter and full year of 2011 on Tuesday, January 31 , 2012. On each day, Lilly will also conduct conference calls with the investment community and media to further detail the company’s 2012 financial guidance and its 2011 financial performance, respectively. The conference call on January 5th will begin at 9:30 a.m. EST while the conference call on January 31st will begin at 9:00 a.m. EST . Investors, media and the general public can access a live webcast of the conference calls through links that will be posted on Lilly’s website at www.lilly.com. The webcasts of the conference calls will be available for replay through March 2, 2012 .
Lilly, a leading innovation-driven corporation, is developing a growing portfolio of pharmaceutical products by applying the latest research from its own worldwide laboratories and from collaborations with eminent scientific organizations.
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