American Power Corp. (OTCBB: TGMP) $1.04. Announced yesterday that it will proceed to kick start the development of its advanced Pace Coal Project in Judith Basin County, Montana.
In April 2010, American Power Corp. 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 project's 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. Several independent reports were commissioned based on the development work undertaken by Mobil Oil, determining there could be in excess of 410 million tons of high volatility bituminous coal potential on the Pace acreage.
Al Valencia, CEO of American Power Corp. commented: "A tremendous amount of work has already been undertaken on the Pace Coal Project and we continue to work towards our stated goal of proving up a mineable reserve and preparing a mine plan to re-establish coal production on the property as soon as possible."
Montana's demonstrated reserve base of 119.1 billion short tons of coal represents over 24% of America's total demonstrated coal reserve base of 487.7 billion short tons. Of particular importance, the coal at the Pace Coal Project is bituminous B coal, which, due to its higher BTU rating, secures a higher market price than most of Montana's coal (typically sub-bituminous or lignite).
What They Do: American Power Corp. is a publicly traded, dynamic energy company based in Denver, Colorado. The Company was established with the focus of acquiring near-term, large scale coal projects in close proximity to national transportation links. American Power envisions developing its large coal resources to support electricity generation.
American Power is 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 Corp.), and in several independent studies, range from 172 million up to 410+ million tons of high volatile bituminous B coal.
Coinstar, Inc. (Nasdaq: CSTR) $45.46. Today announced the signing of a definitive agreement for Sigue to purchase Coinstar's money transfer business. The aggregate purchase price is expected to be $41.5 million, which will be subject to a post-closing net working capital adjustment. In addition, Coinstar will be financing a portion of the purchase price payable by Sigue under the definitive agreement through a promissory note. The closing of the transaction is expected next year, subject to certain closing conditions and required regulatory approvals.
"We believe that our global money transfer business should complement Sigue's already extensive network of money transfer agents in the United States and Latin America," said Paul Davis, chief executive officer of Coinstar, Inc. "In addition, the sale of the money transfer business allows Coinstar to direct its full efforts toward our automated retail strategy."
What They Do: Coinstar, Inc. is a leading provider of automated retail solutions offering convenient services that make life easier for consumers and drive incremental traffic and revenue for retailers.
VeriFone Systems, Inc. (NYSE: PAY) $22.42. Today announced financial results for the three months ended July 31, 2010. Net revenues for the three months ended July 31, 2010, were $261 million, compared to $241 million of net revenues in the previous quarter, and $211 million for the comparable period of 2009.
Non-GAAP net income per diluted share, for the three months ended July 31, 2010, was $0.36 per diluted share, compared to $0.29 per diluted share in the prior quarter and $0.26 per diluted share, for the comparable period in 2009. GAAP net income per diluted share for the three months ended July 31, 2010, was $0.21 per diluted share, compared to $0.23 per diluted share in the prior quarter and $0.20 per diluted share, for the comparable period of fiscal 2009.
What They Do: VeriFone Systems, Inc.is the global leader in secure electronic payment solutions.
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