latest news releases from the newsroom
Crew Gold Corporation
Crew Gold Corporation Announces Crew Minerals ASA Accepts Subscriptions for Public Offering
LONDON, Dec. 13, 2006 (PRIME NEWSWIRE) -- Crew Minerals ASA, a fully owned subsidiary of Crew Gold Corporation, is pleased to report that it has accepted subscriptions for a Public Offering of shares for aggregate gross proceeds of NOK 50 million (USD 8.1 million). The subscription price was NOK 12 per share corresponding to a pre-money valuation (taking into account the private placement of NOK 450 million closed November 28, see below) of NOK 1.050 million (USD 170 million).
Sierra Gold Corporation
Sierra Gold Corporation Valuation of Gold Property Translates to $7.42 per Share
LAS VEGAS, Dec. 13, 2006 (PRIME NEWSWIRE) -- Sierra Gold (Pink Sheets:SGCP) commissioned Geologist Alieu Madhi to do a report on the potential gold values of the Pampana North property. The report estimates the gold reserves to be just over 936,000 ounces. At $626.50 per ounce (Dec. 11 second London fix price), the value of the gold reserves is $586,404,000. With 79,031,973 shares currently outstanding, the gold reserves have a per share value of $7.42 before calculating the costs of extraction.
Crew Gold Corporation
Crew Gold Corporation Announces Hot Commissioning to Start at Lefa
LONDON, Dec. 13, 2006 (PRIME NEWSWIRE) -- Crew Gold Corporation ("Crew" or the "Company") (Other OTC:CRUGF) (TSX:CRU) (Oslo:CRU) (Frankfurt:KNC) is pleased to announce that the construction of the Lefa Corridor Gold Project CIP plant is substantially complete and that the Commissioning schedule has commenced. Commissioning commenced with the crusher at the Fayalala Plant and to date approximately 40,000 tonnes of ore has been crushed and stacked on the emergency stockpile in preparation for feeding to the processing plant. The first train of grinding mills in the processing plant are now being prepared to receive crushed ore. Crew expects that commissioning and testing is to be complete within approximately 30 days and that production ramp up will continue through to the end of the first quarter in 2007, at which time, targeted production levels will be achieved.
Frequency Electronics, Inc.
Frequency Electronics, Inc. Announces Second Quarter Fiscal Year 2007 Results
MITCHEL FIELD, N.Y., Dec. 13, 2006 (PRIME NEWSWIRE) -- Frequency Electronics, Inc. (Nasdaq:FEIM) reported revenues of $14.3 million for the second quarter of fiscal year 2007, which ended 31 October 2006, compared to $11.5 million for the same period of fiscal 2006. For the six month period ended 31 October 2006, revenues were $28.6 million compared to $22.6 million in the same period of the previous fiscal year.
Solomon Technologies, Inc.
Solomon Signs Letter of Intent to Acquire Deltron
TARPON SPRINGS, Fla., Dec. 13, 2006 (PRIME NEWSWIRE) -- Solomon Technologies, Inc. (OTCBB:SOLM) announced today that it has signed a letter of intent to acquire Deltron, Inc., a North Wales, Pennsylvania based manufacturer of power supplies and related equipment. Deltron provides precision linear and switching power supplies and power supply systems for applications where power density and functionality are critical. Deltron has manufacturing operations in Reynosa, Mexico.
Quanex Building Products Corporation
Quanex Announces Definitive Agreement to Purchase Atmosphere Annealing, Inc.
HOUSTON, Dec. 13, 2006 (PRIME NEWSWIRE) -- Quanex Corporation (NYSE:NX), an industry-leading manufacturer of value-added engineered materials and components for the vehicular products and building products markets, announced today that it signed a definitive agreement with Maxco, Inc., to purchase the assets of Atmosphere Annealing, Inc. (AAI), a wholly owned subsidiary of Maxco, Inc. The acquisition is subject to governmental approval and the approval of Maxco, Inc. shareholders. The purchase is expected to close on or about February 1, 2007. Terms were not disclosed.