Gold American Mining Corp. (OTC.BB:SILA) has received the final ground geophysics report on its Guadalupe property and confirms that the recently concluded geophysics program has identified multiple potentially significant geophysical anomalies.
The geophysical survey was designed to test down to depths of 500 metres. The key results from the geophysics program are:
Magnetic susceptibility survey was successful in identifying the trace near the surface extensions of the known veins. The presence of additional parallel anomalies suggests the potential for additional veins that do not outcrop.
Induced Polarization anomalies indicate the potential for down dip extensions to the main veins within the property.
A potentially significant chargeability anomaly (Induced Polarization) occurs in the southern portion of the property in between the Santa Rosa and San Antonio Mines at depth starting at 400 m, which is below the known depth of these historically important mines.
�The final results and interpretation of the geophysics results on our Guadalupe property have given us very attractive drilling targets. We are in the process of acquiring firm bids from several qualified drilling contractors and initiating the permitting process for the next phase of exploration of this exciting project,� commented Johannes Petersen, President of Gold American. �Gold American is well on track to initiating drilling operations on Guadalupe during the fourth quarter of 2010,� added Mr. Petersen.
American Power Corp. (OTC.BB:TGMP) has retained Weir International Inc. of Downers Grove, Illinois (�Weir�) to prepare an exploration drilling program and to supervise the execution of that program, in order to evaluate the coal reserve potential on the Pace coal property in Judith Basin County, Montana.
Weir is an internationally recognized consulting firm that has provided engineering consulting services to the American and international mining and energy industries for over 75 years. Weir has prepared coal reserve reports for several established mining companies including BHP Billiton, the world�s largest mining company by market cap at $183bn, among many other major coal producers including Arch Coal Inc., publicly traded on the NYSE, and America�s second largest coal producer.
American Power Corp. is a publicly traded, dynamic energy company based in Denver, Colorado. The Company was established with the focus of acquiring near-term, large-scale coal projects in close proximity to national transportation links. American Power envisions developing its large coal resources to support electricity generation.
Kinross Gold Corporation(NYSE:KGC) and Red Back Mining Inc. have re-affirmed their strong commitment to completing a friendly combination of the two companies, and have rejected the recommendation contained in a report from Institutional Shareholder Services (ISS) on the transaction. The report is in contrast to the positive recommendation of Glass, Lewis & Co. LLC, a professional service firm that provides proxy research and voting recommendations to institutional investors.
The combination of Kinross and Red Back provides an exceptional opportunity for value creation, bringing the technical expertise and resources of Kinross to bear on developing and expanding Red Back’s Tasiast project, one of the world’s most exciting and promising gold properties. Kinross notes that the ISS report acknowledges that they were satisfied with the governance process. Kinross and Red Back believe that the ISS conclusions regarding valuation reflect a lack of technical understanding and knowledge of early-stage mining property valuation, and the potential to create value for shareholders by identifying and acquiring high-potential properties.
Kinross believes that the increase in Kinross’ and Red Back’s share price over recent days reflect growing shareholder understanding of the value and potential of this transaction, and confidence that the combination will be completed. Kinross believes that this confidence is based in part on the strong track record of its management team in creating value for shareholders in previous transactions, and its success in finding and developing new world-class gold properties globally.
Arch Coal, Inc. (NYSE:ACI) is the nation’s second largest coal producer. Through its national network of mines, Arch supplies the fuel for approximately 8 percent of the electricity generated in the United States. The company also ships coal to domestic and international steel manufacturers as well as international power producers
The Arch Coal Foundation is continuing to underwrite its education-support programs in four states, according to Deck Slone, Arch Coal, Inc. vice president and Arch Coal Foundation president.
The Foundation underwrites the Arch Coal Teacher Achievement Awards program statewide in West Virginia and Wyoming and regionally in Utah. It also sponsors an innovative teaching grants program in Delta County, Colo.
The Teacher Achievement Awards program is West Virginia’s longest running, privately sponsored teacher recognition program. It is now in its 11th year in Wyoming and its fifth year in Utah. The Foundation’s Innovative Teaching Grants program in Colorado is in its fourth year.
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