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
For More Information On Majestic Gold: www.majesticgold.net
Corporate Universe Inc. (Pink Sheets:COUV) is pleased to announce the following corporate and operational matters to its shareholders and followers.
John Ahearn, President, stated, �In a few short weeks we have made great strides in getting our company reorganized and moving forward. I believe that many great things are in store for Corporate Universe Inc. in the future and all of us are working very hard and diligently to make it happen. As part of our growth strategy COUV intends to grow the company both organically and through mergers of successful companies in our business industry or business space. COUV management and the Mina Mar Group Mergers and Acquisition Division will be meeting to discuss potential business opportunities and candidates in the near future.�
COUV is opening its new corporate office at 3771 Nesconset Highway, South Setauket, NY, effective October 4, 2010. The new office will allow COUV to operate all of its divisions and subsidiaries in a centrally located place. Manhattan Transfer Registrar Company will continue to be located in Miller Place.
COUV corporate website went live and has officially been launched. The management will continue to update and improve it over the coming weeks.
Verso Paper Corp. (NYSE:VRS) announced the launch of a $40 million Renewable Energy Project at its Bucksport, Maine mill. This project will provide a 43% increase in thermal energy production from renewable biomass at the Bucksport Mill and will generate additional green power � equivalent to the amount needed to supply electricity to 30,000 Maine households. �This project represents what Verso stands for when it comes to our position as a green energy company and as a leader in environmental stewardship. We will have the ability to generate more green energy from renewable biomass, which reduces our carbon footprint, all while increasing overall energy efficiency,� says Verso President and Chief Executive Officer, Mike Jackson.
Verso Paper Corp., through its subsidiaries, engages in the production and sale of coated papers in North America. The company offers coated ground wood paper, which is used primarily for catalogs and magazines; and coated freshet paper that is used primarily for annual reports, brochures, magazine covers, and direct mail advertising. It also provides supercalendered paper, which is primarily used for retail inserts, and specialty papers; and northern bleached hardwood Kraft pulp that is used to manufacture printing and writing paper grades, and tissue products.
Sterling Bancorp (NYSE:STL) announced that the Company�s Board of Directors has declared a cash dividend of $0.09 per common share, payable on December 30, 2010 to shareholders of record as of December 15, 2010. This declaration extends the Company�s history of continuous cash dividends to 260 consecutive quarters over 65 years.
Sterling Bancorp operates as the bank holding company for Sterling National Bank that provides banking and related financial services and products to customers in the United States primarily in New York, New Jersey, and Connecticut. The company�s deposit products include checking accounts, money market accounts, negotiable order of withdrawal accounts, savings accounts, rent security accounts, retirement accounts, and certificates of deposit; and deposit services include account management and information, disbursement, reconciliation, collection and concentration, ACH, and others.
Ford Motor Co. (NYSE:F) announced on November 24, 2010 the results of conversion offers that will reduce the company�s outstanding Automotive debt by more than $1.9 billion, lowering its annualized interest costs by about $180 million. Including the conversion offers, the recent $3.6 billion prepayment on VEBA Note B, and net debt reductions over the first nine months, Ford has reduced its automotive debt by $12.8 billion this year, lowering its annualized interest costs by nearly $1 billion. Ford expects to be net cash positive by the end of 2010. $554 million principal amount of Ford�s 4.25% Senior Convertible Notes due December 15, 2036 and $1.992 billion principal amount of its 4.25% Senior Convertible Notes due November 15, 2016 were validly tendered and accepted for conversion pursuant to Ford�s conversion offers. Ford will pay $534 million in cash premiums and issue 274 million shares of Ford common stock to convertible note holders. The shares of Ford common stock to be issued have been included in Ford�s calculation of diluted earnings per share since the beginning of 2010.The conversion offers will result in a fourth quarter 2010 special item charge of approximately $960 million.
Ford Motor Company designs, develops, manufactures, and services cars and trucks worldwide. It operates in two sectors, Automotive and Financial Services. The Automotive sector sells vehicles under Ford, Mercury, Lincoln, and Volvo brand names. This sector markets cars, trucks, and parts through retail dealers in North America, and through distributors and dealers outside of North America. It also sells cars and trucks to dealers for sale to fleet customers, including daily rental car companies, commercial fleet customers, leasing companies, and governments. In addition, this sector provides retail customers with a range of after-the-sale vehicle services and products in areas, such as maintenance and light repair, heavy repair, collision, vehicle accessories, and extended service warranty under the Genuine Ford, Lincoln-Mercury Parts and Service, Ford Custom Accessories, Ford Extended Service Plan, and Motor craft brand names.
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