subject: Stock Updates On Tgmp, Snv And Athr - Pennytobuck Alerts [print this page] American Power Corporation (OTCBB:TGMP) has recently reported on August 30th, 2010, that it 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 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 as ACI, and America's second largest coal producer.
Al Valencia, CEO of American Power Corp. stated "We are excited to be working with Weir International, a leader in providing expert consulting services to the coal industry. We look forward to initiating the permitting process for our exploration drilling program as soon as possible."
Weir International conducted a preliminary review of 30 stratigraphic test wells drilled in 1979 by Mobil Oil Corp. (now ExxonMobil Corporation traded on the NYSE as XOM) on the Pace Coal Property, back in September 2008.
TGMP was established with the focus of acquiring near-term, large-scale coal projects in close proximity to national transportation links. TGMP envisions developing its large coal resources to support electricity generation. TGMP is also a member of the Montana Mining Association, and holds approximately 29,000 acres in Judith Basin County, Montana. The estimated resources in place, based on exploration work conducted by Mobil Oil Co. (now ExxonMobil Corporation traded on the NYSE as XOM), and in several independent studies, range from 172 million up to 410+ million tons of high volatile bituminous B coal.
Synovus Financial Corp. (NYSE:SNV) announced that Richard E. Anthony, Chief Executive Officer and Chairman of the Board, will take a medical leave of absence from his roles, effective immediately. The Board of Directors has named Kessel D. Stelling, Jr., current President and COO, as acting CEO. In addition, the Board has appointed James D. Yancey, Chairman of the Board of Columbus Bank and Trust Company, a division of Synovus Bank, and former Chairman and current member of the Board of Synovus, as acting Chairman of the Board.
Anthony began to experience symptoms of his illness several months ago, and within the last few weeks has been diagnosed with a blood vessel disorder called Wegeners Syndrome, a form of vasculitis which will require intensive treatment. He is currently undergoing treatment at the University of Alabama Medical Center in Birmingham. During his illness, Anthony has been in regular contact with Synovus leadership team and has continued to fulfill his decision-making role in the company. Upon receiving his diagnosis, Anthony immediately notified the Board of Directors to determine the best course of action for transferring his duties while he is being treated.
Building a foundation of unprecedented strength for the Synovus future has been my top priority since this economic crisis became apparent over three years ago, said Anthony. Now, however, its important that I focus my energy on my health to ensure my recovery is swift. I will remain in regular contact during my treatment, which has already begun, and look forward to resuming my duties.
Synovus Financial Corp. is a financial services company with more than $32 billion in assets based in Columbus, Georgia. Synovus Financial Corp. provides commercial and retail banking, investment, mortgage and insurance services to customers in Georgia, Alabama, South Carolina, Florida and Tennessee.
Atheros Communications, Inc. (NASDAQ:ATHR)
ATHR, a global leader in innovative technologies for wireless and wired communications, announced that it passed a significant milestone during the second quarter of 2010, by shipping its 500 millionth Wi-Fi chipset. This milestone demonstrates Atheros continued leadership in one of the fastest-growing segments of the semiconductor market and highlights the companys ability to scale its operations to serve multiple high volume markets. According to iSuppli, the wireless LAN (WLAN) semiconductor market quadrupled from 2003 to 2009 and will nearly triple again to reach $8.8 billion in 2014.(1) As a leading supplier of Wi-Fi technology, Atheros is capitalizing on this tremendous growth opportunity by exceeding customers expectations with unmatched performance, integration and innovative features.
In addition to its extraordinary growth in WLAN, Atheros has also expanded its connectivity portfolio with Bluetooth, Ethernet, GPS, Powerline and broadband access technologies, which enable Atheros to deliver unique hybrid networking solutions that enhance and simplify the user experience. The availability of full-featured and cost-effective solutions from Atheros is helping to fuel the rapid adoption of connectivity technologies in a variety of devices, including PCs, mobile phones, networking equipment and consumer electronics products. By connecting more devices in the home and office, Atheros enables people to move content from there to here in a way that is simple and transparent to the user.
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