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Aquarian Gold Corp. (PINKSHEETS: AQGC) ((January 21, 2008) announced Friday that its technical team will be onsite at its project in the Raiu Coal Basin in Indonesia approximately February 10, 2008. Previously, the Company had announced that it had finalized its exploration with a budget of approximately $2.0 million US for its 2008 program. The technical team, led by local consulting geologists that will coordinate and supervise the exploration program, will be available to commence field work in early February. Upon completion of the 2008 program the Company will have defined its coal reserves, currently estimated at a potential for 300 million metric tonnes.
This will be extremely important as an international consortium is in the process of developing a two stage, 4 x 150 MW coal driven power plant directly adjacent to the property. The consortium has announced that a Power Purchase Agreement by the State Electricity Company is contracted for a period of 30 years with the option of 10 years extension. Their total requirement of coal supply to the power plant for the period of 40 years would be approximately 200 million metric tonnes (5 million m/t per annum).
Indonesian based representatives of Aquarian have been contacted by the consortium to discuss the potential to contract for a firm supply of coal for the life of their project.
The Company is engaged in the exploration and development of coal colicenses in Sumatra, Indonesia. The Company?s large land position is located in the Riau coal basin, one of three coal rich areas within Sumatra that together account seventy percent of Indonesia?s annual coal production.
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China Jiangsu Golden Horse Steel Ball, Inc. (PINKSHEETS: CJGH) ("Golden Horse" or "the Company") a leading Chinese manufacturer and supplier of ball bearings, announced earlier today that its controlled affiliate, Jiangsu Golden Horse Steel Ball Co., Ltd. ("Jiangsu Golden Horse") will take an active role in the Chinese Government's 11th five-year technology development plan of the steel ball industry, which is formulated based on the requirements of China's Bearing Industry 11th five-year development program, has been approved by China Bearing Industry Association Technology Committee.
Jiangsu Golden Horse, a domestic People's Republic of China company, will undertake several new technology developments in the steel ball industry for 2008 and 2009. Three programs are slated for 2008 and will include the research of G3 grade high-precision steel balls, the research of new resin grinding wheel milling techniques, and the development of automotive bearing steel wire. In 2009, three programs will research the life span test machine of steel balls, development of steel ball line processing technology, and the development of cold heading active control technology of steel balls.
"We take great pride to take an active role in the government's 11th Five-Year Technology Development Program of Steel Ball Industry in China and continue our leading position in the steel ball industry," stated Qiang Ma, President of China Jiangsu Golden Horse Steel Ball, Inc. "Our company employs more than 50 engineers and we look forward to the research and development programs to improve the equipment, the product quality and technologies of steel ball production."
The Company along with its affiliates and controlled entities is one of the top five manufacturers of steel ball bearings in China. The Company produces over three billion ball bearings annually of various specifications along with its development of over 15 new products, such as stainless steel balls, aluminium balls, and ceramics balls. In addition, the Company continues to export its products to over twenty countries worldwide including the USA, Japan, Brazil, India, and Germany.
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Earlier today China Coal Energy Company Limited (PinkSheets: CCOZF)(January 22, 2008), the country's second largest coal manufacturer, announced that they have started its A-share initial public offering (IPO) roadshow from January 21 to 23 in Beijing, Shanghai and Shenzhen.
The company told Xinhua that 75 per cent of the shares would be offered online to individual and institutional investors on Friday, making it the country's highest ever online subscription ratio.
The remainder of the shares will be open to subscriptions from institutional investors from Thursday to Friday.
According to the prospectus released on January 7, the company plans to issue up to 1.525 billion A-shares on the Shanghai Stock Exchange, representing 11.51 per cent of the company's capitalization after the IPO.
The proceeds would be used for the construction of major coal projects in northern Inner Mongolia Autonomous Region and northeastern Heilongjiang Province, and to supplement the company's operating capital.
China Coal Energy's assets were valued at 55.29 billion yuan (US$7.6 billion) with net assets of 31.88 billion yuan by the end of June 2007. The operating turnover reached 16.93 billion yuan and net profits hit 2.44 billion yuan in the first half of 2007.
China Railway Construction Corporation Limited (CRCC), one of the nation's largest road and rail project contractors, is planning to issue 2.8 billion A-shares on the Shanghai Stock Exchange.
One hundred and twenty-four companies were listed on the mainland's Shanghai and Shenzhen stock markets in 2007, raising more than US$65 billion, nearly triple the floated value in 2006, according to a survey by Beijing-based Zero2IPO, a leading consultancy company.
Li Rongrong, head of the State-owned Assets Supervision and Administration Commission (SASAC), reiterated in December that China encouraged eligible centrally administered SOEs to list on stock markets as a whole, or gradually inject their core assets into their listed arms.
CSRC head Shang Fulin even invited overseas firms and Hong Kong-listed domestic companies to go public on the Chinese mainland in December, and the Shanghai Stock Exchange said it was considering introducing international firms that performed well in China.
Market observers predict the tourism, catering and department store sectors would be the principal force for this year's IPOs as the earnings expectations of these industries is on the rise.
"Due to the recent U.S. economic recession signal and some uncertainty factors of the Chinese economy, the investors would be more cautious in this year's stock market investment," said Ou.
China Coal Energy Company Ltd. The Group's principal activities are the production and sale of coal and coke, manufacturing and sale of mining machinery and the design of mining structures, trading of other products, generation and sales of electric powers, production and sale of primary aluminum, transportaion services and agency services. Other activities include project management services, surveying services, telecom engineering, consulting services, real estate exploitation and management and the provision of maintainance services. The Group's activities are carried out in the Peoples Republic of China, Korea, Japan, Taiwan and the Asia Pacific Regions.
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