Pampa Energia SA (NYSE:PAM) announces that the Wholesale Electricity Administration Company (”CAMMESA”) granted the commissioning of Central Termica Loma de la Lata’s (”CTLLL”) expansion works and approved it to start commercial operation in the Wholesale Electricity Market with a capacity of 165 MW. With this commissioning CTLLL’s combined cycle begins its commercial operation.
Pampa Energia S.A., through its subsidiaries, engages in the generation, transmission, and distribution of electricity in Argentina.
MAJESTIC GOLD CORP (MJGCF.PK)
Gold is a metallic chemical element with the atomic number of 79 and the chemical symbol of Au. Gold is a soft, yellowish colored metal that is highly malleable and ductile. It occurs as granules or nuggets and can be found in veins or alluvial deposits. It has long been used in the production of fine jewelry and is considered the most precious of metals. However, gold has many other applications as well. The following are some of the most common uses of gold in the world.
o Gold is used in all different types of jewelry.
o Some gold salts are used in medicine as they have anti-inflammatory properties.
o Gold and gold alloys are used to coat biological specimens and the glass and plastic dishes used under scanning electron microscopes.
o Gold solder is used to join gold in pieces of jewelry.
MAJESTIC GOLD CORP (MJGCF.PK) engages in the exploration and development of mineral properties in China. The company focuses on its gold project located in the prolific gold region of Song Jiagou in eastern Shandong Province. Majestic Gold Corp. is headquartered in Vancouver, Canada.
MAJESTIC GOLD CORP (MJGCF.PK) has arranged a $10,000,000 loan to advance its Song Jiagou project in China. Nine million dollars ($9,000,000) from the proceeds from the loan will be used by the Company to in connection with its Song Jiagou project and the balance of one million dollars ($1,000,000) for general working capital purposes.
The loan will have a one year term and loan principal will be convertible at the option of the lender in whole or in part into common shares (”Shares”) of the Company until twelve months from the date of the loan advance at the price of $0.205 per Share. The loan will bear interest at the rate of 7.5% per annum, payable on maturity, and accrued and unpaid interest will be convertible at the option of the lender in whole or in part into shares of the Company until twelve months from the date of the loan advance at Market Price at the time of conversion.
The lender is at arm’s length from the Company and will not become an insider as a result of any conversion of principal and interest. All shares issued on any conversion of loan principal or interest will be subject to a four month hold period from the date of advance of loan proceeds. The loan is subject to acceptance by the TSX Venture Exchange.
As additional consideration for the loan, the Company has agreed to forward at least $9 million to Majestic Yantai Gold Ltd., a British Virgin Islands company owned 94% by the Company to be used to further advance its Song Jiagou project. The Borrower has also agreed to a 90 day period for reciprocal due diligence reviews and discussions for the possible further involvement of the Lender in the Song Jiagou project.
In the event that no further agreement is reached between the Lender and the Company during the 90 day period, then the loan and a minimum of seven (7) months interest will automatically convert to shares in the Company at a price of $0.205 per share and the interest at Market Price respectively. In addition the Company is pleased to announce that it has arranged a non-brokered private placement of up to 15,000,000 shares to be issued at the price of $0.20 per share for gross proceeds of $3,000,000.
For more information about MAJESTIC GOLD CORP. Visit its website: http://www.majesticgold.net
Orbitz Worldwide, Inc. (NYSE:OWW) will host a meeting for analysts and investors on Wednesday, November 9, 2011 from 9:00 a.m. to 1:00 p.m. EST in New York, New York.
Orbitz Worldwide, Inc. operates as an online travel company worldwide. It enables leisure and business travelers to search for and book a range of travel products and services.
AU Optronics Corp. (NYSE:AUO) held its investors conference and announced its unaudited results for the third quarter of 2011 . AUO posted consolidated revenue of NT$98,927 million (US$ 3,249 million) , up 0.9% from the previous quarter. Gross profit was at -NT$9,142 million (-US$ 300 million), with the gross margin of -9.2%. Operating loss was at NT$16,818 million (US$ 552 million), with the operating margin of -17%. AUO’s net loss for the third quarter was at NT$15,796 million (US$ 519 million). Net loss attributable to equity holders of the parent company was NT$15,810 million (US$ 519 million), with basic EPS of -NT$1.79 per common share (-US$0.59 per ADR).
AU Optronics Corp. researches, develops, produces, and sells thin film transistor liquid crystal displays (TFT-LCDs) and other flat panel displays to original equipment manufacturing service providers.
No comments:
Post a Comment