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.
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.
Majestic continues to work with Wardrop and its sister company, Tetra Tech (Beijing) Consultancy Company Limited, (both subsidiaries of Terta Tech Inc.) to complete a Preliminary Economic Assessment, concurrent with the required Chinese Geological and Engineering studies required to apply for increased production levels at Song Jiagou. The results of these studies will ultimately culminate in a Pre-feasibility report.
In recent years, domestic gold production has risen by 15% annually compared to the 3% decline in global production in 2006. This tremendous increase has been due to rapid capital expansion and low costs of labor. Chinese gold producers have gained enormously from the record high gold prices as investors worldwide are seeking stability due to the decline in the value of the dollar.
Gold is the most malleable and ductile of all metals; a single gram can be beaten into a sheet of 1 square meter, or an ounce into 300 square feet. Gold leaf can be beaten thin enough to become translucent. The transmitted light appears greenish blue, because gold strongly reflects yellow and red. Such semi-transparent sheets also strongly reflect infrared light, making them useful as infrared (radiant heat) shields in visors of heat-resistant suits, and in sun-visors for spacesuits
For More Information On Majestic Gold: www.majesticgold.net
GreenHouse Holdings, Inc. (OTCQB:GRHU), is a one-source integrator of energy management services. We employ both short- and long-term solutions to help meet our clients� energy-savings goals through programs that become more cost-effective year after year. Our programs are recognized for exemplary achievements in energy efficiency and demand reduction. The GreenHouse integrated approach offers customers effective energy program design, implementation, management and administration. We also help manage incentive programs and monitor to ensure that projects perform as planned.
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The GreenHouse water purification system is designed to produce high-quality distilled water at the lowest possible cost and deliver maximum purification through optimum efficiency. Our process is unique because its modified vapor compression system uses more effective heat technology transfer elements. By recapturing both sensible and latent heat produced during distillation, this process is capable of producing 50,000 gallons of purified water per day.
Vista Gold Corp. (AMEX:VGZ) announced that the agreement for the management of the Company�s Mt. Todd gold project in Northern Territory, Australia, has been renewed for an additional five-year period. Resources Minister Kon Vatskalis announced that the agreement between the Northern Territory Government and Vista Gold Corporation for the management of the Mount Todd mine, has been renewed for a further five years. Mr. Vatskalis says the government is pleased with Vista�s performance in managing the mine over the last four years. �This renewal represents the opportunity to turn a legacy site inherited by the Labor Government into an operating mine, which will provide the resources to rehabilitate the site in the long term.
Vista Gold Corp. and its subsidiaries engage in the evaluation, acquisition, exploration, and advancement of gold exploration and potential development projects.
The LGL Group, Inc. (AMEX:LGL) announced its results for the three and nine months. The Company reported earnings of $0.88 per share and revenues of approximately $12,397,000 for the three months ended September 30, 2010, compared to loss per share of ($0.43) and revenues of approximately $7,321,000 for the comparable period in 2009. For the nine months ended September 30, 2010, the Company reported earnings of $2.32 per share and revenues of approximately $35,633,000, compared to loss per share of ($1.32) and revenues of approximately $22,099,000 for the comparable period in 2009. Due to the utilization of the Company�s U.S. net operating losses, and the corresponding release of the valuation allowance against its otherwise recognizable U.S. net deferred tax assets, the Company�s estimated consolidated annual effective tax rate as of September 30, 2010 was 3.9%.
The LGL Group, Inc., through its subsidiary, M-tron Industries, Inc., designs, manufactures, and markets custom-designed engineered electronic components that are used primarily to control the frequency or timing of signals in electronic circuits.
Lannett Co. Inc. (AMEX:LCI) reported financial results for the fiscal 2011 first quarter. For the first quarter of fiscal 2011, net sales were $25.4 million, compared with $31.4 million for the first quarter of fiscal 2010. Gross profit declined to $5.9 million from $11.5 million for the same period in the prior year. Research and development expenses decreased to $2.0 million from $3.0 million in the fiscal 2010 first quarter. Selling, general and administrative expenses rose to $4.6 million from $3.8 million in the same quarter of the prior year, primarily due to increased legal costs related to litigation with the FDA regarding the company�s Morphine Sulfate Oral solution product. Operating loss was $726,000 versus operating income of $4.7 million in the fiscal 2010 first quarter. Net loss was $404,000, or $0.02 per share, compared to net income of $2.9 million, or $0.11 per diluted share, for the prior year�s first quarter.
Lannett Company, Inc. develops, manufactures, packages, markets, and distributes generic pharmaceutical products sold under generic chemical names in the United States.
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