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American Power Corp. (OTCBB: TGMP) $1.04. Announced Monday 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.
Zymo Genetics (Nasdaq: ZGEN) $4.86. Today announced enrollment has been completed in the Phase 2b clinical trial with PEG-Interferon lambda and ribavirin in chronic hepatitis C virus (HCV) infection. ZymoGenetics is investigating PEG-Interferon lambda in collaboration with Bristol-Myers Squibb Company (NYSE: BMY) for the treatment of HCV infection.
“We’re very pleased to have completed the enrollment in the Phase 2b PEG-IFN lambda clinical trial in less than three months,” said Eleanor L. Ramos, M.D., Senior Vice President and Chief Medical Officer of ZymoGenetics. “The rapid enrollment to this study speaks to the motivation and enthusiasm of the clinical trial investigators to help address the unmet medical need in hepatitis C and also to the outstanding execution by our clinical team. We should now be able to assess the primary endpoint earlier than originally projected, and we look forward to assessing the data and planning for Phase 3.”
What They Do: ZymoGenetics is a biopharmaceutical company focused on the development and commercialization of therapeutic proteins for the treatment of human diseases.
Coldwater Creek Inc. (Nasdaq: CWTR) $3.35. Today reported financial results for the three- and six-month periods ended July 31, 2010. Net sales were $253.5 million, compared with $225.2 million in the fiscal 2009 second quarter. Sales from the retail segment, which includes the Company's premium retail stores, outlet stores and day spa locations, were $195.4 million versus $183.4 million in the fiscal 2009 second quarter. Comparable premium store sales increased 4.8 percent in the second quarter versus the second quarter of fiscal 2009. Direct sales (internet and phone) increased 39.0% to $58.1 million from $41.8 million in the same period last year.
Gross profit for the fiscal 2010 second quarter was $84.7 million, or 33.4 percent of net sales, compared with $75.7 million, or 33.6 percent of net sales, for the fiscal 2009 second quarter. The 20 basis point decrease in gross profit margin was primarily due to increased promotional activity as compared to last year, which was partially offset by improvements in IMU and occupancy leverage. Net income for the three-month period was $1.5 million, or $0.02 per diluted share, compared with a net loss of $4.9 million, or $0.05 per share, for the three-month period ended August 1, 2009.What They Do: Coldwater Creek Inc., together with its subsidiaries, operates as a multi-channel specialty retailer of women's apparel, accessories, jewelry, and gift items.
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