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Posted January 03rd, 2011 at 05:54pm
American Video Teleconferencing Corp. (PINK:AVOT) is pleased to announce that it is presently in final discussions to enter into a formal agreement to acquire an exclusive option on a molybdenum property in the Otter lake area in the province of Quebec, Canada. The property has been dormant since the 1960's when Hupon Mining and Exploration carried out surface work, stripping, trenching and a minor drill program of 445 feet contained in 11 drill holes. Some of the sample results from the trenching in 1962 showed 0.94% to 25% molybdenum averaging 5-10%. These values were obtained from assessment files in the Department of Mines in Quebec City. This property is only one of several advanced stage properties American Video has under consideration in the province of Quebec.
Rare-earth minerals consist of terbium, which is used in flat-panel TVs and high-efficiency fluorescent lamps; and neodymium, key to the permanent magnets in high-efficiency electric motors. Rare-earth materials are not all that unusual. The series of nonferrous metals frequently occurs in the environment. According to Design Chain Associates, the majority of rare-earth materials are as common as copper, and even the rarest, is more common than gold.
Part of the market pressure on rare-earth minerals arises from new demand that green technologies has prompted. Industry, including electric- and hybrid-vehicle motors and wind turbines, requires magnets. Rare earth elements have become irreplaceable in clean tech such as hybrid and electric car motors, high-efficiency light bulbs, solar panels and wind turbines. They also play a key role in defense technologies such as cruise missiles, radar and sonar and precision-guided weapons.
Experts warn that the U.S. depends upon China for almost its entire supply of rare earths, and has let its own rare earth production languish despite having about 15 percent of the world's reserves. A draft of a Chinese rare earths plan for 2009-2015 states that China's own industrial demand could soon lead to restrictions or bans on the export of rare earths. The U.S. Geological Survey (USGS) has noted that 91 percent of U.S. consumption of rare earths came from China between 2005 and 2008.
Power3 Medical Products, Inc. (OTCBB:PWRM), a leading proteomics company focused on the development of innovative diagnostic tests in the fields of cancer and neurodegenerative diseases, recently announced that company management believes it is making great progress in its focus on the development, sales, and marketing of its proprietary innovate diagnostic tests for breast cancer, pancreatic cancer, ovarian cancer, colon cancer, and certain neurodegenerative diseases, such as Alzheimer's and Parkinson's, to name a few.
In addition, Power3 is a party to several litigation matters, most of which relate to various toxic debt instruments that were entered into by Power3 several years ago when it operated under the tenure of Chairman and CEO, Steven B. Rash. Because current management believes these toxic debt instruments are responsible for Power3's depressed stock price and have distracted the company from its mission, Power3 plans to settle as many of these nagging lawsuits as possible prior to the completion of its merger with Rozetta-Cell Life Sciences, Inc. As for those lawsuits that cannot be speedily resolved, Power3 will continue to rigorously defend its position.
Rozetta-Cell Life Sciences, Inc. is a medical biotechnology company that focuses on the delivery and imaging of stem cells during therapy. Power3 plans to effect the acquisition of Rozetta-Cell by merging Rozetta-Cell with and into Power3, with Power3 remaining as the surviving company. The acquisition of Rozetta-Cell is expected to be completed in February 2011.
Power3 Medical Products, Inc. is a leading bio-technology company focused on the development of innovative diagnostic tests in the fields of cancer and neurodegenerative diseases such as Alzheimer's disease, Parkinson's disease and amyotrophic lateral sclerosis (commonly known as ALS or Lou Gehrig's disease). Power3 applies proprietary methodologies to discover and identify protein biomarkers associated with diseases.
WellCare Health Plans, Inc. (NYSE:WCG) announced that its Board of Directors has elected Charles G. Berg non-executive chairman of the Board. Mr. Berg has served as WellCare's executive chairman since January 2008. The change is effective January 1, 2011, following the expiration of Mr. Berg's employment agreement on December 31, 2010.
WellCare Health Plans, Inc. provides managed care services for government-sponsored healthcare programs in the United States. The company offers Medicaid and Medicare plans, including health plans for families, children, aged, blind, and disabled, as well as prescription drug plans.
Unilever NV (NYSE:UN) confirmed that Alberto Culver Company shareholders have voted in favor of the proposed US$3.7 billion Unilever acquisition, which was announced on September 27, 2010. Separately, Unilever confirmed that it has received a second request for information from the United States Department of Justice (DOJ) in the regulatory review process. Unilever will continue to work cooperatively with the DOJ in connection with its review.
Unilever N.V. and its subsidiaries produce and supply fast moving consumer goods in nutrition, hygiene, and personal care categories in Asia, Africa, Europe, and Latin America.
Harsco Corporation (NYSE:HSC) announced the retirement at the end of this month of Vice Chairman and Board member Geoffrey D. H. Butler. Mr. Butler has served Harsco throughout nearly two decades of strategic expansion and business growth, joining the Company in 1993 through the acquisition of MultiServ International, N.V. and later becoming Group CEO of both the Harsco Metals and Harsco Infrastructure businesses and President of the Company.
Harsco Corporation provides industrial services and engineered products worldwide.
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