MIAMI, Jan. 24, 2005 (PRIMEZONE) -- Stock Market Alert's watch list includes: Madison Explorations Inc. (Pink Sheets:MDEX), Fortune Brands, Inc. (NYSE:FO), Sirius Satellite Radio (Nasdaq:SIRI) and Hewlett-Packard Company (NYSE:HPQ).
Madison Explorations Inc. (Pink Sheets:MDEX) issued a press release that may get investor's attention. Late yesterday afternoon, the company announced that it has secured a driller for its initial drill program at Scout Lake. Before the news was released, the company's stock closed at forty eight cents a share.
The press release stated the company has awarded Kendrick Drilling Services the contract for its program at Scout Lake. The anticipated start date for the drill program is February 14th, 2005.
Madison has five high priority targets at Scout Lake after an extensive ground program consisting of indicator sampling, ground magnetics, and a Mobile Metal Ions (MMI) survey.
Two of the targets are identified as magnetic highs, two are magnetic lows. The remaining target is adjacent to the dyke structure and is of interest due to its highly anomalous cobalt reading on the MMI survey at 24 ppb. Cobalt is one of the key kimberlitic indicators analyzed in the MMI-D kimberlite package by SGS Laboratories of Toronto, Canada.
Madison Explorations, Inc. is a progressive mineral exploration company focusing on the discovery of diamonds. The Company has a portfolio of three highly prospective diamond properties located in one of Canada's newest diamond exploration regions in Southern Saskatchewan.
Other Stocks of interest yesterday were: Fortune Brands, Inc. (NYSE:FO) up 5.4% on 2.7 million shares traded, Sirius Satellite Radio (Nasdaq:SIRI) up 5.2% on 93.5 million shares traded and Hewlett-Packard Company (NYSE:HPQ) down 0.1% on 11 million shares traded.
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