Stock Update On Anv, Tre And Tgmp From Pennytobuck.com
American Power Corporation (OTCBB:TGMP) recently announced that it will proceed to
kick start the development of its advanced Pace Coal Project in Judith Basin County, Montana.
In April 2010, TGMP acquired roughly 29,000 acres, which make up the Pace Coal Project. In 1979 Mobil Oil Co. (now ExxonMobil) drilled 30 holes over 14,000 of the projects acreage, and delivered 45 samples which were later sent to an independent laboratory for analysis. It was subsequently determined that both the quality and the quantity of coal on the Pace acreage was high and significant, respectively.
TGMP has access to a large and experienced workforce in Great Falls, Montana, and the coal project may provide hundreds, if not thousands, of new, high-paying jobs for the local economy (according to the U.S. Bureau of Labor Statistics, the average annual wage in the mining industry in Montana was $70,779 in 2008, or 122 percent higher than the average wage in the state).
To get more information on TGMP visit them at http://americanpowerco.com
Tanzanian Royalty Exploration Corporation (AMEX:TRE) announces that Mr. James E. Sinclair has agreed to provide $800,000 by way of private placement with the proceeds being applied to general working capital. Mr. Sinclair has agreed to purchase 144,430 common shares at price of $5.539 per share. The price reflects the 5-day weighted average trading price on the Toronto Stock Exchange for the period August 17-23, 2010.
The private placement common shares are subject to certain mandated hold periods and the certificates representing such shares are legended accordingly. No warrants, options or other rights have been issued or granted in connection with this placement.
More information on TRE can be found on their website www.TanzanianRoyaltyExploration.com , or please contact Investor Relations at 1-800-811-3855.
Allied Nevada Gold Corporation (AMEX:ANV) announces that Newmont Mining Corporation (Newmont) has notified ANV that it does not elect to enter into a joint venture agreement for the Hasbrouck and Three Hills properties, located near Tonopah, Nevada.
Allied Nevada completed an initial three core-hole program in June of this year with significant intercepts including:
HSB10-001 - 120 meters grading 1.57 g/t Au(1) and 36.71 g/t Ag(1) (2.22 g/t AuEq(1),(2))
HSB10-002 - 123 meters grading 0.81 g/t Au and 19.25 g/t Ag (1.15 g/t AuEq)
HSB10-003 - 108 meters grading 0.85 g/t Au and 20.14 g/t Ag (1.2 g/t AuEq)
All three holes have encountered gold and silver mineralization which is higher grade than the average resource grade of 0.79 g/t Au and 10.97 g/t Ag. These core holes have been drilled at a large diameter to provide samples for metallurgical testing. Historical column leach tests indicate that recoveries could be 54.1% for gold and 19.2% for silver at a crush size of 80% passing 3/8 inch and after 51 days of leaching.
Allied Nevada will begin a 30-hole exploration program at Hasbrouck in September 2010. The primary goals of this program are to upgrade and increase the current resource, test the depth of mineralization and provide further samples for metallurgical testing.
Allied Nevada will retain 100% ownership in these properties, subject to a 2% net smelter return royalty to Newmont upon attaining commercial production. As per the agreement between Allied Nevadas predecessor company, Vista Gold Corp., and Newmont Capital Limited, Newmont is entitled to receive US$500,000 upon commencement of commercial production and an additional US$500,000 if the gold price exceeds US$400 per ounce for any three calendar month period following commercial production.
More information on ANV can be found at http://www.alliednevada.com/
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by: Bill Pennyman
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