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
SavWatt USA, Inc. (SAVW.PK), will attend the WEEC convention on December 8th and 9th, 2010. This annual Word Energy Engineering Congress convention will be held at the Washington DC convention center. This will be one of the most anticipated events of the year as SavWatt will unveil its highly anticipated Eco-Pole. The Eco-Pole will be on display at Booth #606. SavWatt’s Eco-Pole, a 60 watt LED light powered by a 100 watt micro-wind turbine and 120 watt solar panel, is expected to draw hundreds of people to the booth.
Michael Haug, SavWatt’s CEO, commented, “SavWatt will continue to add new features to its web site, the latest upgraded version has been given accolades for its user friendly features. Browsing through the updated site gives one the feeling that SavWatt is the BRAND for LED lights. For the novice to the expert in lighting the updated web site provides a thorough analysis on the features and benefits of SavWatt LED lights. SavWatt is proud to let public and private entities see what the costs and benefits of LED lighting products are, available from SavWatt. The time has come where there should be no mystery and secrets when it comes to LED lighting.”
SavWatt is leading the LED lighting revolution and setting the stage to obsolete the incandescent light bulb through the use of energy-efficient, environmentally friendly LED lighting. SavWatt is a market-leading innovator of LED lighting. SavWatt’s product families include LED fixtures, bulbs, Street Lights and Parking Lights.
Dice Holdings, Inc. (NYSE:DHX) announced that after ten consecutive months of private sector employment growth, half of employers and recruiters anticipate more professionals will be hired in the first half of 2011 than the previous six months, according to a new survey by Dice Holdings, Inc., a leading provider of specialized career websites for professional communities. This result closely mirrors findings six months ago which are being reflected in the general labor market – with private employers adding 132,000 jobs per month on average since July, as compared to just 98,000 new positions per month in the first half of 2010, according to the Bureau of Labor Statistics.
Dice Holdings, Inc., through its subsidiaries, provides online recruiting and career development services in the United States and internationally. The company, through its career Web sites, serves as online marketplaces, where employers and recruiters find and recruit prospective employees, and professionals find relevant job opportunities and information. Its career Websites offer job postings, content, career development, and recruiting services to the specific needs of the professional community.
Cobalt International Energy, Inc. (NYSE:CIE) announced that a subsidiary of Ensco plc has sub-let the ENSCO 8503, a new ultra-deepwater semisubmersible drilling rig currently under contract to Cobalt. The ENSCO 8503 was recently mobilized to the U.S. Gulf of Mexico, and is scheduled to begin sea trials shortly. Under the sub-let agreement, once rig acceptance procedures have been completed in the U.S. Gulf of Mexico, the ENSCO 8503 will mobilize to offshore French Guiana to commence drilling operations for a subsidiary of Tullow Oil plc on behalf of itself and its coventurers in the license (Shell, Total, and Northpet Investments). Acceptance procedures will be witnessed jointly by Cobalt and Tullow.
Cobalt International Energy, Inc. operates as an independent oil-focused exploration and production company. The company focuses on the deepwater U.S. Gulf of Mexico, and offshore Angola and Gabon in West Africa. It has strategic relationships with TOTAL E&P USA, INC. and Sociedade Nacional de Combust�veis de Angola�Empresa P�blica. The company was founded in 2005 and is based in Houston, Texas.
Cohen & Steers Closed-End Oppor (NYSE:FOF) announced that capital gain distributions are projected in 2010 from one of its U.S. registered closed-end funds: Cohen & Steers Total Return Realty Fund, Inc. The projected capital gain distribution will be paid together with RFI�s regular quarterly dividend in December. Actual capital gain distributions will appear on shareholders� year-end tax forms, which will be mailed in early 2011. Shareholders should keep in mind that some broker-dealers may distribute information on fund capital gain distributions based on preliminary data and subsequently distribute revised reports after the fund calculates final distribution amounts for the 2010 tax year.
Cohen & Steers is a manager of portfolios specializing in U.S. and international real estate securities, large cap value stocks, listed infrastructure and utilities, and preferred securities. The company also manages alternative investment strategies such as hedged real estate securities portfolios and private real estate multimanager strategies for qualified investors
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