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Medusa Mining Limited: Quarterly Activities Report Period Ended 30 June 2010

July 30, 2010 By vani Leave a Comment

COMO, WESTERN AUSTRALIA, Jul 29 (MARKET WIRE) —
Medusa Mining Limited (TSX: MLL)(ASX: MML)(AIM: MML) –

OVERVIEW:

Co-O MINE PRODUCTION

– Quarterly production of 25,012 ounces at an average grade of 13.65 g/t
at cash cost of US$182 per ounce and record annual production of 89,679
ounces

Co-O RESOURCES & RESOURCE DRILLING

– Indicated Resources increased by 4% to 603,000 ounces and Inferred
Resources increased by 36% to 898,000 ounces
– Drill gold results announced 30 June include 1.00 metre at 26.83 g/t,
2.00 metres at 23.35 g/t, 1.00 metre at 22.13 g/t, 1.20 metres at 28.74
g/t, 1.70 metres at 54.41 g/t, 1.95 metres at 36.39 g/t, 1.25 metres at
23.76 g/t and 4.00 metres at 64.54 g/t
– Reserve estimate scheduled for August 2010

BANANGHILIG DEPOSIT

– Granting of the Tambis MPSA covering the Bananghilig Deposit is well
advanced
– Drilling has commenced with one rig, with four more rigs expected to
follow by the end September

LINGIG COPPER

– Mineralisation located in two settings, basalt-hosted and diorite-hosted
– Recent results include 154.60 metres at 0.45% copper ending in
mineralisation and 86.00 metres at 0.12% copper
– Assessment of results to be undertaken before further drilling

SAUGON PROJECT

– Drilling currently underway with two rigs

FINANCIALS & CORPORATE

– Total cash and bullion at end of quarter of approximately US$62.0
million (unaudited)
– Appointment of Mr Peter R. Jones as Non-executive Chairman and Mr Peter
Hepburn-Brown as Executive Director Operations

(ii) The potential target size and grade is conceptual in nature, and
there has been insufficient exploration to define a mineral resource, and
it is uncertain if further exploration will result in the target being
defined as a mineral resource. Refer to Stock Exchange announcement dated
18 January 2010.

SNAPSHOT OF MEDUSA:

– Expanding gold producer operating solely in the Philippines
– Debt free and un-hedged
– Forecast production FY 2010/11 of 100,000 ozs.
– Long term cash costs at Co-O Mine circa US$190 per oz
– Co-O Mine conceptual target size 3 to 7 million ozs(ii)
– Mineral Resources comprise
— Co-O Mine: Indicated 603k ozs at 13.2 g/t gold; Inferred 898k ozs
at 9.6 g/t gold
— Bananghilig: Inferred 650k ozs at 1.3 g/t gold
– Probable Reserves : Co-O Mine 500k ozs @ 14.9 g/t gold
– Organic growth policy to potentially produce 300,000 to 400,000 ozs per
year
– Excellent exploration upside: high grade vein and disseminated bulk gold
targets, plus seven porphyry copper targets

Board of Directors
Peter R. Jones (Non-executive Chairman)
Geoffrey Davis (CEO)
Peter Hepburn-Brown (Director Operations)
Roy Daniel (CFO)
Robert Weinberg (Non-executive Director)
Andrew Teo (Non-executive Director)

Capital Structure:
Ordinary shares: 187,584,911
Unlisted options: 1,240,000

Listings:
ASX and AIM (Code: MML), TSX (Code: MLL)

Address and Contact Details:
PO Box 860
Canning Bridge WA 6153
Telephone: +618 9367 0601
Facsimile: +618 9367 0602
Email: admin@medusamining.com.au
Website: www.medusamining.com.au

PROJECT OVERVIEW

The locations of the Company’s projects are shown on Figures 1 and 2.

To view Figure 1, please visit the following link:

http://media3.marketwire.com/docs/mll0728fig1.pdf.

To view Figure 2, please visit the following link:

http://media3.marketwire.com/docs/mll0728fig2.pdf.

Co-O MINE

GOLD PRODUCTION

The production statistics for the June 2010 quarter with comparatives for
the March 2010, December 2009 and September 2009 quarters and Year to
Date are summarised in Table I.

Table I. Gold production statistics

—————————————————————————-

Qtr ended Qtr ended Qtr ended Qtr ended YTD 30 Jun
Period Unit 30 Jun 10 31 Mar 10 31 Dec 09 30 Sep 09 10
—————————————————————————-
Tonnes mined WMT 53,872 51,512 54,222 43,287 202,893
—————————————————————————-
Ore milled DMT 60,611 40,943 37,588 40,467 179,609
—————————————————————————-
Head grade gpt 13.65 20.61 18.68 14.78 16.52
—————————————————————————-
Recovery % 94% 94% 94% 94% 94%
—————————————————————————-
Gold produced
(1) ozs 25,012 25,505 21,108 18,054 89,679
—————————————————————————-
Cash costs (2) US$ $182 $180 $184 $193 $184
—————————————————————————-
Gold sold ozs 24,858 – 21,108 18,054 64,020
—————————————————————————-
Average gold
price received US$ $1,182 – $1,111 $975 $1,100
—————————————————————————-

Note:

(1) Gold production, is actual gold poured during the period and does not
reflect changes in the balance of gold in circuit
(2) Cash costs refers to the cost of gold mined (net of development costs),
produced but not necessarily sold and includes royalties and local taxes
of US$46 per ounce for the Jun 2010 qtr (Mar 10 qtr: US$48 per oz, Dec
09 qtr: US$48 per oz, Sep 2009 qtr: US$34 per ounce, YTD: US$46 per
ounce)

Gold production for the quarter was 25,012 ounces at an average grade
of 13.65 g/t gold and cash costs of US$182 per ounce. Annual production
for the year ended June 2010 was 89,679 ounces at an average grade of
16.52 g/t gold and cash costs of US$184 per ounce, inclusive of taxes,
royalties and production taxes of US$46 per ounce.

Medusa an unhedged gold producer, sold 24,858 ounces of gold at an
average price of US$1,182 during the quarter.

The increased tonnage processed reflects increased throughput capacity of
the mill. The reduction in grade compared to the previous quarter
reflects less development in areas with black leader (which are being set
up for longhole stoping) and the use of some of the stockpiled material.
The grade is within the anticipated long term grade range of 12 to 15 g/t
gold.

The forecast for the forthcoming fiscal year is production of 100,000
ounces at anticipated cash costs of US$190 per ounce.

To view Graph 1, please visit the following link:

http://media3.marketwire.com/docs/mll0728graph1.pdf.

Co-O MINE

Mineral Resource Estimate

A new mineral resource estimate was completed by Cube Consulting Pty Ltd
of Perth, Western Australia (see announcement of 22 July 2010) resulting
in the Indicated Resources increasing by 4% and the Inferred Resources
increasing by 36% as summarised in Table II.

Table II. Co-O Mine mineral resource estimate to 21 June 2010

—————————————————————————-

greater than 0 g/t gold
Category ——————————————
tonnes g/t gold ounces
—————————————————————————-
Indicated 1,418,000 13.2 603,000
—————————————————————————-
Inferred 2,905,000 9.6 898,000
—————————————————————————-

Notes:

– A lower cut-off of 0 g/t gold has been applied
– Variable upper cuts up to 200 g/t gold has been applied to different
veins
– Rounding to the nearest 1,000 may result in some slight discrepancies in
totals.

Mine Development

The new 60 metre inclined shaft (6W) to the Level 6 has reached final
depth and development on Level 6 will commence during the next quarter
(Fig. 4).

A vertical siter or shaft location drill hole to 500 metres depth has
been completed to the north of the adit entrances (Fig. 4) in preparation
for sinking a vertical ventilation shaft, the Mid Royal Shaft, initially
to Level 2. This shaft will also allow rationalisation of services into
the mine (power, water, compressed air). Preparations for shaft sinking
is expected to commence during the next quarter.

The Level 3 drive from the Baguio Shaft to below the Tinago Shaft has
been completed and preparations are under way to commence an Alimak rise
to link Level 3 to the Tinago Shaft. This will then act as the main
ventilation exhaust for the western end of the mine. It is intended that
a power line will be installed to the Tinago Shaft.

Mine Production

Production has continued uninterrupted at the mine. Surface stockpiles
are approximately 20,000 tonnes which were drawn down by around 7,000
tonnes.

The fitting of the skip and headframe to the vertical Ventilation Shaft
near the Baguio Shaft to haul mineralised material from above Level 1 has
been completed with haulage commenced.

Mill Expansion

The mill expansion comprised a new primary, secondary and tertiary
crushing circuit with a washing and screening section. The fine ore is
stored in two 800 tonne capacity fine ore bins.

Mill operation during the period was in line with management
expectations. Increased efficiencies were achieved after smaller diameter
grinding balls were loaded into the ball mill in line with the finer feed
size now available. The milling averaged 666 tonnes per day compared to
454 tonnes per day in the previous quarter, an increase of 46%.

A thickener unit is nearing completion. Construction of a new water
storage tank is expected to commence during the next quarter followed by
two new leach tanks.

Tailings Dam

Construction of a new eight year life tailings dam has been completed.

Power

Construction has commenced on the dedicated power line from the San
Francisco sub-station to the mill. It is anticipated that this will be
completed in the December quarter 2010.

RESOURCE DRILLING

Discussion

Figure 4 (attached) shows all the new MD series diamond drill holes from
MD 241 to MD 260 totalling 13,993 metres which have been completed around
the Co-O Mine since 29 March 2010. Results are awaited for MDs 258 and
259. Figure 5 (attached) shows the underground drilling totalling 4,865
metres from all levels in the mine.

A possible new vein(s) discovery is indicated by intersections to the
north of the Royal Vein which have been returned from MED 244 (0.40
metres at 17.20 g/t gold and 1.00 metre at 3.14 g/t gold), MED 252 (0.25
metres at 16.87 g/t gold and 0.20 metres at 16.11 g/t gold), and EXP 028
(0.35 metres at 10.59 g/t gold, 1.00 metre at 1.37 g/t gold and 0.20
metres at 2.39 g/t gold) in conjunction with a deep intersection in MD 68
which intersected 3.10 metres at 15.37 g/t gold at approximately 500
metres below Level 1 (announced 4 June 2008).

An increasing amount of resource drilling will be undertaken from
underground allowing some of the surface rigs to be re-allocated to the
Bananghilig Project.

Drill results

Table III lists the surface diamond drilling results greater than 3 g/t
gold over greater than 0.5 metres from the Co-O Mine for new drill holes
from MD 241 to MD 260 as well as results not previously reported for one
earlier hole as announced on 30 June 2010. Other reports containing
intersections for holes numbered MD 217 to 240 were announced on 29 March
2010 and for holes below MD 217 were announced on 18 January 2010, 1 July
2009, 1 December 2008 and 12 August 2008. In 2007 the announcements are
dated 9 July, 15 May and 28 February. The announcement of 30 June 2010
also contains information regarding drill hole surveying techniques and
comments on vein interpretation, resource conversion methodologies and
sampling and assaying procedures.

Table IV lists the underground drill holes from Levels 2, 3, 4 and 5.

The announcement of 30 June 2010 contains more detailed results for
surface and underground drill holes down to 0.2 metres wide as
underground development shows that in many cases as the veins approach
cross-cutting faults, they narrow down on both sides of the fault over 5
to 10 metres before widening out, and hence the narrower intersections
are important in defining vein continuity. There is also some pinching
and swelling of veins along strike and some cross-faulting. Most drilling
is sub-parallel to the fault directions and rarely intersects the faults,
which are subsequently identified by underground on-vein development.

Table III. Co-O surface drill hole results greater than 3 g/t gold and
greater than 0.5 metres downhole for new holes MD 241 to MD 260 and
complete assays for previously partly reported hole designated (i)

—————————————————————————-

Grade
Hole Dip Azimuth From Width (uncut)
number East North (degrees) (degrees) (metres) (metres) (g/t gold)
—————————————————————————-
MD 237(i) 613812 913203 -49 176 299.50 1.15 14.10 (i)
——————————
331.20 1.00 26.83 (i)
—————————————————————————-
MD 241 614136 912992 -45 193 278.10 2.00 23.35
——————————
308.90 0.60 35.45
——————————
404.80 0.65 7.16
—————————————————————————-
MD 244 614130 913231 -60 180 77.75 1.00 3.14
——————————
205.20 0.50 4.52
——————————
256.40 0.75 17.95
——————————
276.80 1.00 7.60
——————————
356.50 0.80 15.52
——————————
380.10 1.00 22.13
—————————————————————————-
MD 245 613721 913204 -47 180 298.60 0.95 8.82 (i)
——————————
MD 247 613640 913131 -45 191 376.00 1.15 5.50 (i)
—————————————————————————-
MD 252 614292 913157 -45 200 220.90 1.50 5.86 (i)
——————————
441.70 0.60 4.23 (i)
——————————
495.30 1.20 28.74 (i)
——————————
531.30 1.40 4.54 (i)
——————————
MD 260 613450 913207 -67 148 413.50 1.00 6.57 (i)
—————————————————————————-

Notes:

(i) Intersection widths are downhole drill widths not true widths
(ii) Assays denoted by (i) are by Philsaga Mining Corporation’s laboratory,
all other assays are by McPhar Geoservices Inc. in Manila
(iii) Grid coordinates based on the Philippine Reference System 92.

Table IV. Co-O underground drill hole results greater than 3 g/t gold
and greater than 0.5 metres downhole

—————————————————————————-

Grade
Hole Dip Azimuth From Width (uncut)
number East North (degrees) (degrees) (metres) (metres) (g/t gold)
—————————————————————————-
LEVEL 2
—————————————————————————-
L2-014 613350 912801 3 0 86.00 0.70 38.16 (i)
——————————
152.05 0.65 18.33 (i)
—————————————————————————-
L2-015 613368 912785 3 10 86.00 0.70 29.00 (i)
——————————
89.65 0.30 13.10 (i)
——————————
159.70 0.35 7.80 (i)
—————————————————————————-
LEVEL 3
—————————————————————————-
L3-003 613258 912846 3 59 3.20 1.55 4.31 (i)
——————————
L3-004 613376 912985 3 327 21.20 0.90 3.09 (i)
—————————————————————————-
L3-005 613477 912930 3 42 87.25 1.35 7.20 (i)
—————————————————————————-
L3-008 613913 913028 3 23 103.10 4.20 4.98 (i)
—————————————————————————-
LEVEL 4
—————————————————————————-
L4-002 613923 912905 3 157 56.25 0.75 5.03 (i)
—————————————————————————-
L4-004 613923 912905 3 157 Wait
—————————————————————————-
L4-005 613758 912749 3 32 22.30 1.70 54.41 (i)
——————————
27.70 0.90 10.07 (i)
—————————————————————————-
L4-006 613760 912748 3 47 31.50 1.10 11.53 (i)
——————————
137.20 1.20 5.41 (i)
—————————————————————————-
L4-007 613757 912749 3 352 12.60 1.00 10.22 (i)
—————————————————————————-
LEVEL 5
—————————————————————————-
L5-001 613880 912749 -60 346 29.95 1.95 35.39 (i)
——————————
39.45 1.25 23.76 (i)
——————————
44.80 4.00 64.53 (i)
——————————
51.45 1.25 5.36 (i)
—————————————————————————-
L5-003 613888 912794 3 0 57.40 2.30 12.40 (i)
——————————
99.00 2.00 3.70 (i)
—————————————————————————-
L5-004 613885 912794 3 342 90.50 3.10 14.61 (i)
—————————————————————————-
L5-005 613883 912793 3 330 55.80 2.05 6.43 (i)
——————————
58.50 0.60 14.37 (i)
——————————
258.90 1.40 3.20 (i)
—————————————————————————-
L5-006 613885 912789 -70 168 48.20 0.70 56.87 (i)
——————————
50.45 2.80 18.11 (i)
—————————————————————————-
L5-007 613885 912789 -56 168 37.75 6.50 12.24 (i)
—————————————————————————-

Notes:

Co-O CONCEPTUAL TARGET SIZE

As announced on 18 January 2010, a conceptual target size(ii) for the
Co-O Mine was estimated at between 3 and 7 million ounces. Further
details are provided in the above announcements.

Figure 6 (attached) was included in the announcement of 22 July 2010 and
shows a composite longitudinal projection of all the drill hole
intersection grades below Level 6 (250 metres below Level 1). These
intersections strongly support the concept that mineralisation extends to
a depth of 500 metres below Level 1, and also show that the
mineralisation occurs below the 500 metre level.

It should be noted that the conceptual target size(ii) includes the
current resource estimate. The mine has produced approximately 290,000
ounces to 30 June 2010.

Co-O REGIONAL DRILLING

Using the Co-O Mine as a model, drill testing commenced in the September
quarter of 2009 on veins in the vicinity of the Co-O Mine.

The Co-O vein system outcrops at surface on the western side of the
Oriental Fault, where it was first discovered. The veins at surface
rarely exceed 0.5 metres width and generally assay around 1 to 5 g/t gold
(with possibly some supergene enrichment). Gold values start to increase
significantly approximately 80 metres below surface.

Figure 7 (attached) shows the positions of the 28 holes completed to
date. Results for EXP 001 to 012 were announced on 10 December 2009 and
an update to EXP 022 was provided on 29 March 2010. A total of 5,189.6
metres have been completed in the seven holes EXP 022 to 028.

Table V shows the results greater than 1 g/t gold for holes EXP 022 to
028.

Table V. Co-O regional drill hole results greater than 1 g/t gold and
greater than 0.2 metres downhole for holes EXP 022-028

—————————————————————————-

Grade
Hole Dip Azimuth From Width (uncut)
number East North (degrees) (degrees) (metres) (metres) (g/t gold)
—————————————————————————-
EXP 024 613551 914075 -47 270 547.40 1.00 2.48 (i)
—————————————————————————-
EXP 027 613941 913554 -55 155 683.00 0.25 2.12 (i)
—————————————————————————-
EXP 028 614180 913559 -56 157 704.70 0.35 10.59 (i)
—————————————————————————-
707.80 1.00 1.37 (i)
——————————
724.90 0.20 2.39 (i)
—————————————————————————-

Notes:

To view Figure 3, please visit the following link:

http://media3.marketwire.com/docs/mll0728fig3.pdf.

To view Figure 4, please visit the following link:

http://media3.marketwire.com/docs/mll0728fig4.pdf.

To view Figure 5, please visit the following link:

http://media3.marketwire.com/docs/mll0728fig5.pdf.

To view Figure 6, please visit the following link:

http://media3.marketwire.com/docs/mll0728fig6.pdf.

To view Figure 7, please visit the following link:

http://media3.marketwire.com/docs/mll0728fig7.pdf.

LINGIG COPPER PROJECT

The Lingig prospect is covered by a Mines Operating Agreement (“MOA”)
over Mineral Production Sharing Agreement (“MPSA”) application number
APSA 024-XIII comprising two parcels situated to the north and to the
east (the Lingig porphyry copper prospect) of the Co-O Mine and millsite
as shown on Figure 2.

Drilling has intersected copper mineralisation in two settings and
results to date are shown on Figure 8. Additional information is
contained in the announcement dated 7 May 2010.

Basalt-hosted mineralisation (now called the Basalt Prospect) is hosted
within the basaltic and doleritic rocks around the 1974 discovery area.
This mineralisation appears to form a large north plunging body presumed
to be still open to the north down-plunge. The most recent and most
northerly drill hole returned 154.60 metres at 0.45% copper but was
abandoned in strong mineralisation. It is interpreted that the bottom of
this mineralisation may be faulted-off by the underlying thrust fault and
the rest of the mineralised zone is yet to be located. Further drilling
is required.

Breccia-hosted mineralisation (now called the Breccia Prospect) has
continued to be located associated with intense biotitic alteration in
dioritic, polylithic hydrothermal breccias.

The breccia body is tabular and open to the south with copper
mineralisation in intensely altered hydrothermal breccias with the most
recent intersections of 154.7 metres at 0.19% copper in hole LIN 37 and
86.0 metres of 0.12% copper in hole LIN 40. Further drilling is required.

TAMBIS-BAROBO REGION

The Tambis project, currently comprising the Bananghilig Gold Deposit and
the Kamarangan copper porphyry prospect (Fig. 2), is operated under a
Mining Agreement with Philex Gold Philippines Inc. over MPSA application
APSA-000022-XIII which covers 6,262 hectares (includes the Bananghilig
Gold Project and the Kamarangan copper-molybdenum prospect). Processing
of the application is well advanced.

Banaghilig Gold Project

Figure 2 shows the location of the Bananghilig Deposit. Drilling has
commenced at site and by the end of September it is intended that there
will be five rigs operating with the aim to increase the resources to a
level which could provide a 5 year minimum mining life at a production
rate of approximately 200,000 ounces per year.

Usa Porphyry Copper-Gold Prospect

Background

The Usa prospect located within Mineral Production Sharing Agreement
application (“APSA”) XIII-00077. The Company has a Memorandum of
Agreement with Corplex Resources Inc (“Corplex”) whereby:

– Corplex will receive a 4% gross royalty on all production, or
– in the event of a major discovery and completion of a Scoping Study
which demonstrates at least a five year mine life, Corplex can elect to,

(a) buy back a 30% interest by re-imbursing to the Company a sum equal to
four times the expenditure on the tenement; and
(b) contribute to 30% of all on-going expenditure from the point of buy-back
forwards.
(c) should Corplex elect not to contribute to all on-going expenditure, then
Corplex can elect once only to dilute to a 15% non-contributing free
carried interest to commencement of production, at which point the
Company shall provide a loan to Corplex to fund its 15% interest; or
(d) in the event that Corplex does not exercise the buy-back, then Corplex
will maintain its 4% gross royalty on production.

There are indications that the prospect extends eastwards into APSA
XIII-00098 which is owned by Mindanao Philcord Mining Corporation which
will receive a 1% Net Profits Interest from any production.

Regional Setting

Detailed information on the Usa prospect is contained in the announcement
dated 5 May 2010 and Figure 2 shows the Usa prospect location. Figure 9
shows the detailed geology and geochemistry contours of rock chip
samples.

The Usa prospect is located adjacent to the west side of the Barobo Fault
corridor. This fault is parallel to the Philippine Rift Fault located
approximately 30 kilometres to the west of the Usa prospect. The Barobo
Fault corridor has numerous gold prospects already located along or
adjacent to it, including Guinhalinan, Umbon, Matanog and Alikway.

Local Geology and Mineralisation

The geology consists of a mineralised and altered diorite complex which
is intruding andesitic volcanics, older limestone and calcareous
sediments. The setting and style of mineralisation are very similar to
that at the Kamarangan copper-molybdenum porphyry prospect to the north
where chalcopyrite and magnetite bearing diorite was intersected over
several hundred metres in two holes during a scout diamond drilling
completed in late 2008 to early 2009 (see announcement dated 29 May
2009).

The fine- to medium-grained diorite is variably but strongly phyllic
altered (white clay, sericite and pyrite) with variably dispersed
hairline veinlets of fine-grained magnetite. Mineralisation is
predominantly pyrite occurring as fracture filling grains disseminated
grains and vein infill. The pyrite is accompanied with bornite, and with
occasional chalcopyrite. Malachite stained limestone and calcareous
sediments with sphalerite, pyrite and bornite veins, and weakly
mineralised pyrite and chalcopyrite magnetite have been noted in drainage
float samples to the north of the diorite.

Contouring of the rock chip copper results (greater than 700 ppm Cu) and
gold results (greater than 0.1 g/t Au) are shown on Figure 9 which are in
close spatial proximity. The relationship of the diorite body to the
surrounding rocks suggests that it has been recently uncovered and is not
deeply eroded.

Artisanal mining activity with small but consistent recoveries is common
in the drainages overlying and downstream of the mineralised altered
diorite. Less active artisanal mining activity is noted to the north
where chlorite and clay altered, sulphide veined andesitic units occur.

A large grid based soil sampling program designed to delineate the extent
of the gold and copper mineralisation should be completed during the
September quarter.

ANOLING

The Mines Operating Agreement with Alcorn Gold Resources Inc. covers MPSA
application number 039-XIII situated approximately 8 kilometres north
from the millsite as shown on Figure 2. Processing of the MPSA is
progressing.

Mapping and sampling is continuing. Drilling will recommence when the
MPSA is granted.

SAUGON PROJECT

Drilling commenced at Saugon during the quarter with two drilling rigs. A
detailed summary of previous exploration conducted in 2004 was published
on 20 April 2010.

FIRST HIT VEIN

Discussion

Figure 10 shows the regional geology, location of the First Hit Vein, and
the Paradise and Mabas Prospects.

Work in 2004 involved drilling of the First Hit Vein in conjunction with
underground development via a 30 metre deep 60 degrees inclined winze
down the vein-breccia to assist in understanding the mineralisation. By
chance, the winze was sunk at a contact between well banded and high
grade vein on the north wall and polylithic hydrothermal quartz breccias
on the south wall containing fragments of various different vein and
silica types, and with lower grade gold values.

The 2004 drilling indicated three zones of mineralisation as being partly
developed footwall and hanging wall zones and a well developed central
zone (First Hit Vein) which has the highest grades and a more prominent
silver-polymetallic association.

Regional Setting

Subsequent to the drilling in 2004, an aeromagnetic survey was completed
which showed the First Hit Vein set are on the northern edge of a large,
northeast-trending demagnetised zone over 2,000 metres wide and
approximately 8,000 metres long, part of which is shown on Figure 10. A
number of features within this zone were interpreted to be suggestive of
intrusive bodies, possibly porphyry copper-related. Field work has
established that outcropping areas of the northern side of this zone show
intense clay-pyrite alteration, which is presumed to extend across the
bulk of the zone under cover to the south.

Sections of the demagnetised zone are covered by younger sediments, some
grits and shales at the base and capped by white, semi-massive to massive
limestone. This appears to be a remnant of the same younger sequence that
occurs elsewhere to the north in the Company’s tenements.

Drilling

Drilling has re-commenced at the First Hit Vein with two rigs, and will
test additional targets that have been outlined by recent field work. As
the 2004 drill holes were not down hole surveyed in the early drilling,
some holes will be repeated to establish the geometry of the mineralised
system before step-out drilling is undertaken. Two rigs will be involved
in the programme which will be results-driven over the next 4 to 6 months.

Table I. First Hit Vein drill hole results greater than 3 g/t gold and
greater than 0.2 metres downhole

—————————————————————————-

Grade
(uncut)
(g/t gold,
g/t Ag, %
Hole Dip Azimuth From Width Cu, %Pb,
number East North (degrees) (degrees) (metres) (metres) %Zn)
—————————————————————————-
35.75, 544,
0.38, 1.88,
SDDH 2B 616944 899267 -55 316 108.50 1.00 1.62
—————————————————————————-
9.76, 142,
0.30, 1.18,
SDDH 4 616912 899318 -59 290 89.50 0.20 0.40
—————————————————————————-
3.26, 32,
0.20, 0.20,
SDDH 5 616964 899344 -54 345 71.80 0.95 0.61
—————————————————————————-
4.97, 78,
0.74, 1.51,
SDDH 9 616979 899250 -67 319 176.20 0.20 1.54
—————————————————————————-
16.30, 244,
1.32, 2.65,
SDDH 27 616921 899334 -73 300 60.80 1.00 4.97
——————————
9.63, not
71.05 5.95 assayed
—————————————————————————-
20.54, not
SDDH 28 616922 899307 -70 300 89.95 2.05 assayed
—————————————————————————-
15.32, not
SDDH 29 616961 899315 -72 300 112.25 0.90 assayed
—————————————————————————-
3.94, not
SDDH 31 616922 899254 -75 315 174.25 0.75 assayed
—————————————————————————-
6.87, not
SDDH 34 617033 899279 -65 310 173.80 0.40 assayed
—————————————————————————-
5.05, not
SDDH 35 617000 899305 -65 310 128.20 0.85 assayed
—————————————————————————-

Notes:

(i) Intersection widths are downhole drill widths not true widths;
(ii) All assays are by McPhar Geoservices Inc laboratory in Manila;
(iii) Grid coordinates based on the Philippine Reference System 92;
(iv) The drill holes have not been downhole surveyed.

OTHER PROSPECTS

Paradise Prospect

Holes SDDH 19 and 22 were drilled at the Paradise Prospect which consists
of an outcropping silica-barite cap with anomalous gold values. Drilling
encountered a 1.60 metre wide barite vein containing 0.89 g/t gold.
Extensive clay-pyrite alteration of volcanics was uncovered in road
cuttings to the south and northeast of the silica outcrops.

Mabas Prospect

Holes SDDH 15, 16, 18, 20, 21, 23 and 24 were drilled at the Mabas
Prospect where there were some existing workings. The best drill-hole
intersection below the workings was 1 metre at 5.64 g/t gold in SDDH 24.
The workings were re-opened and developed. The mineralisation consisted
of generally black chalcedonic silica with some lead-zinc mineralisation
and gold values in the 6 to 8 g/t range. The silica appeared to be
confined to a lens or boudin within the Mabas Shear zone.

Mabas South Prospect

The Mabas South Prospect has been discovered by recent field work, and
whilst a narrow vein at less than 0.5 metres wide, has consistently
returned gold values around 10 g/t gold in most samples. This vein will
be drilled to test for grade and thickness at depth.

To view Figure 8, please visit the following link:

http://media3.marketwire.com/docs/mll0728fig8.pdf.

To view Figure 9, please visit the following link:

http://media3.marketwire.com/docs/mll0728fig9.pdf.

To view Figure 10, please visit the following link:

http://media3.marketwire.com/docs/mll0728fig10.pdf.

FINANCIALS (unaudited)

As at 30 June 2010, the Company which is debt free, had total cash and
bullion of approximately US$62.0 million (31 Mar 2010: US$48.1 million);

During the quarter,

– the Company sold 24,858 ounces of gold at an average price of US$1,182
(No gold was sold during the Mar 2010 qtr). Year to date gold proceeds
totalled US$70.4 million from the sale of 64,020 ounces of gold at an
average price of US$1,100 per ounce);
– incurred exploration expenditure of US$5.4 million (Mar 2010 qtr: US$4.3
million; YTD:US$18.9 million);
– spent US$1.8 million on capital works associated with the mine/mill
expansion and sustaining capital (Mar 2010 qtr: US$1.8 million); YTD
US$7.7 million); and
– incurred US$2.0 million in capitalised mine development (inclusive of
shaft sinking) costs (Mar 2010 qtr: US$1.8 million; YTD: US$7.9
million).

CORPORATE

Mr Peter R. Jones was appointed Non-executive Chairman of
the Company on 8 July 2010 and Mr Peter Hepburn-Brown was appointed as
Executive Director – Operations.

Managing Director, Geoff Davis commented:

“I am pleased with this quarter’s production of 25,012 ounces and the
record production for the year of 89,679 ounces. Surface stockpiles and
broken ore underground augur well for achieving our production targets.

Following recent completion of the Co-O Mine two phase expansion program
to the production level of 100,000 annualised ounces, we will focus on
stabilising the operations for the next two quarters at production levels
around 25,000 ounces per quarter for the first half and then assess the
possibility of incremental production increases for the second half.

The Company is pleased with the new resource estimate at Co-O and intends
to maintain the annual total resources estimate at current levels, but
will actively continue drilling to seek exensional mineralisation outside
the current mine limits.

An exploration budget of US$20 million for the forthcoming year will
ensure a very active programme. Drilling has commenced on schedule at the
extensive Bananghilig Deposit and is underway at Saugon, highlighting
both the short and long term potential of the Company.”

Information in this report relating to Exploration Results has been
reviewed and is based on information compiled by Mr Geoff Davis, who is a
member of The Australian Institute of Geoscientists. Mr Davis is the
Managing Director of Medusa Mining Limited and has sufficient experience
which is relevant to the style of mineralisation and type of deposits
under consideration and to the activity which he is undertaking to
qualify as a “Competent Person” as defined in the 2004 Edition of the
“Australasian Code for Reporting of Exploration Results, Mineral
Resources and Ore Reserves” and is a “Qualified Person” as defined in
“National Instrument 43-101″ of the Canadian Securities Administrators.
Mr Davis consents to the inclusion in the report of the matters based on
his information in the form and context in which it appears.

Information in this report relating to Mineral Resources has been
estimated and compiled by Mark Zammit of Cube Consulting Pty Ltd of
Perth, Western Australia. Mr Zammit is a member of The Australasian
Institute of Mining & Metallurgy and has sufficient experience that is
relevant to the style of mineralisation and type of deposit under
consideration and to the activity which he is undertaking to qualify as a
Competent Person as defined in the 2004 Edition of the “Australasian Code
for Reporting of Exploration Results, Mineral Resources and Ore Reserves”
and is a “Qualified Person” as defined in “National Instrument 43-101″ of
the Canadian Securities Administrators. Mr Zammit consents to the
inclusion in the report of the matters based on his information in the
form and context in which it appears.

Information in this report relating to Ore Reserves is based on
information compiled by Declan Franzmann, B Eng (Mining), MAusIMM. Mr
Franzmann is a full-time employee of Crosscut Consulting. Mr Franzman has
sufficient experience which is relevant to the style of mineralisation
and type of deposit under consideration and to the activity which they
are undertaking to qualify as Competent Persons as defined in the 2004
Edition of the “Australasian Code for Reporting of Exploration Results,
Mineral Resources and Ore Reserves” and is a “Qualified Person” as
defined in “National Instrument 43-101″ of the Canadian Securities
Administrators. Mr Franzmann consents to the inclusion in the report of
the matters based on his information in the form and context in which it
appears.

Refer to the revised Technical Report which was filed on www.sedar.com in
March 2010 for further discussion of the Co-O Deposit’s geology,
structural controls, drilling, sampling and assaying information, and any
known material environmental, permitting, legal, title, taxation,
socio-political, marketing or other relevant issue.

DISCLAIMER

This announcement may contain certain forward-looking statements. The
words ‘anticipate’, ‘believe’, ‘expect’, ‘project’, ‘forecast’,
‘estimate’, ‘likely’, ‘intend’, ‘should’, ‘could’, ‘may’, ‘target’,
‘plan’ and other similar expressions are intended to identify
forward-looking statements. Indications of, and guidance on, future
earnings and financial position and performance are also forward-looking
statements.

Such forward-looking statements are not guarantees of future performance
and involve known and unknown risks, uncertainties and other factors,
many of which are beyond the control of Medusa, and its officers,
employees, agents and associates, that may cause actual results to differ
materially from those expressed or implied in such statements.

Actual results, performance or outcomes may differ materially from any
projections and forward-looking statements and the assumptions on which
those assumptions are based.

You should not place undue reliance on forward-looking statements and
neither Medusa nor any of its directors, employees, servants or agents
assume any obligation to update such information.

Contacts:
Australia
Medusa Mining Limited
Geoffrey Davis
Managing Director
+61 8 9367 0601

Australia
Medusa Mining Limited
Roy Daniel
Finance Director
+61 8 9367 0601
www.medusamining.com.au

United Kingdom
Fairfax I.S. PLC
Nominated Adviser and Broker
Ewan Leggat/Laura Littley
+44 (0)20 7598 5368

United Kingdom
Lothbury Financial Services Limited
Michael Padley/Libby Moss
+44 (0)20 7868 2010

Canada
Nicholas Sayce
Investor Relations
+1 416 822 4404

Filed Under: International News Tagged With: Bullion, copper, director operations, executive chairman, Executive Director, Gold Producer, medusa, mineral resource, O Resources, ounce, Peter R Jones, Quarterly Activities, Quarterly Production, Report Period, rig, Stock Exchange Announcement, Tambis, target size, TSX, Western Australia

FACTBOX-Five facts about new AIA head Tucker

July 20, 2010 By vani Leave a Comment

(Reuters) – Former Prudential Plc (PRU.L) chief executive Mark Tucker was on Monday named by bailed-out insurer American International Group Inc (AIG) (AIG.N) as executive chairman and CEO of its Asian life insurance business, American International Assurance (AIA), replacing existing head Mark Wilson. [ID:nTOE66I026]

Following are five facts about Tucker:

* Started adult life as a trainee professional footballer in Britain, making appearances for Wolverhampton Wanderers, Rochdale and Barnet.

* Is a chartered accountant. First joined Prudential group in 1986, working initially in Prudential Portfolio Managers Limited. Was Chief Executive of Prudential Corporation Asia for a decade up until 2003.

* Left Prudential in 2004 to join HBOS Plc as finance director. But returned as Prudential’s CEO in 2005 and stayed in that role until 2009, when he quit the group.

* Had eyed acquisition of AIA when he was CEO, but AIG did not proceed with the sale then.

* Born on Dec. 29, 1957 (Compiled by Muralikumar Anantharaman)

Filed Under: International News Tagged With: Adult life, American International Assurance, American International Group, American International Group Inc, Asian Life, chartered accountant, executive chairman, Finance Director, hbos, Hbos Plc, International Group Inc, Life Insurance Business, Mark Tucker, Mark Wilson, Portfolio Managers, professional footballer, pru, Prudential Corporation, Prudential Plc, Wolverhampton Wanderers

UPDATE 1-Interquest sees H1 fee income up

July 15, 2010 By vani Leave a Comment

July 14 (Reuters) – British IT staffing company Interquest Group Plc (ITQ.L) forecast first-half net fee income rising by 14 percent, helped by growth in the private sector that offset relatively weaker demand from the public sector.

The company said it had seen strong trading in the first six months to end-June, with increased demand in both permanent and contract recruitment.

“We believe that with activity levels returning and the enlargement of the group, we are in a strong position as we head into the second half of the year,” Executive Chairman Gary Ashworth said in a statement.

Jobs in Britain’s public sector are set to contract following the government’s budget which announced spending cuts of 6.2 billion pounds ($9.41 billion) in the 2010-2011 financial year. [ID:nLDE65M0VY]

Shares in Interquest closed at 58.5 pence on Tuesday on the London Stock Exchange. ($1=.6588 Pound) (Reporting by Aditi Samajpati in Bangalore; Editing by Roshni Menon)

Filed Under: International News Tagged With: ashworth, budget, Contract Recruitment, executive chairman, Group Plc, Interquest, Itq, jobs in britain, July 14, London Exchange, london stock exchange, menon, pence, private sector, public sector, reuters, second half, shares, six months, Staffing Company

Mirada Medical Announces the Appointment of Karsten Damgaard-Iversen as Non-Executive Chairman

July 13, 2010 By vani Leave a Comment

OXFORD, UK, Jul 12 (MARKET WIRE) —
Mirada Medical Limited (“Mirada” or “the Company”)

Oxford, UK and Ohio, US, 12 July 2010: Mirada Medical Limited, the fast
growing international company focused on advanced oncology imaging,
announced today that Karsten Damgaard-Iversen has joined the Board of the
Company as Non-Executive Chairman.

Karsten Damgaard-Iversen is an internationally accomplished business
professional with more than 30 years global experience of working within
the healthcare imaging industry. He is a proven leader with a successful
track record in operational and strategic management positions within
small, medium and large medical imaging and healthcare technology
companies. Mr. Damgaard-Iversen, aged 54, combines strong business acumen
with in-depth technical and medical knowledge and has served in executive
positions such as Managing Director and Chief Group Executive of Toshiba
Medical Systems Europe BV, Managing Director of Toshiba Medical Systems
(UK) Ltd., Vice President of International Operations of Fisher Imaging
Corporation and Director of Sales & Marketing of Storz Medical AG. Mr.
Damgaard-Iversen has also been a direct contributor to the invention and
development of specific laser and x-ray based medical products. He holds
an MBA from Emory University and a BSc in electronic engineering from
Copenhagen University College.

In addition to his role as Chairman at Mirada Medical, Mr.
Damgaard-Iversen is the founder and director of Disease Control
Innovations Medical BV, a Dutch company engaged in product and EU
business development of new medical technology that encompass innovative
solutions to disease management and diagnosis. DCI Medical currently
supports SonoCine Corporation, a privately held US inventor of automated
whole breast ultrasound (AWBU) for screen detection of mammograhically
occult breast cancer, and US quoted Imaging Diagnostic Systems, a pioneer
in laser optical imaging systems.

Commenting on the appointment of the new Chairman, Hugh Bettesworth, CEO
of Mirada Medical, said: “I am delighted that Karsten has chosen to join
Mirada Medical as Chairman and that we have been able to attract such
international talent from the medical imaging industry to our Board.
Karsten’s experience in product development, together with his strategic
and operational leadership, will provide Mirada with excellent guidance
and steering as we continue to grow and prosper in the global oncology
imaging marketplace.”

Commenting on his appointment as Chairman of the Board of Mirada Medical,
Mr. Damgaard-Iversen said: “I am extremely impressed by Mirada’s
innovative solutions for oncology disease management and cross modality
decision support systems and I hope to be able to make a significant
contribution to the growth and development of the Company. I look forward
to working with the team at Mirada and applying my experience and
know-how from the medical imaging arena to guide and support the future
success of Mirada.”

About Mirada Medical

Mirada Medical Limited develops internationally recognised medical
imaging analysis applications that provide clinicians with an enhanced
software package for the quantification of images, typically used in
cancer diagnosis and treatment response assessment. Mirada Medical’s
technology has broad applicability across nuclear medicine, diagnostic
radiology, radiation oncology and medical oncology. Mirada Medical also
markets products in neurology and cardiology. Mirada specialises in
offering comprehensive and quantifiable analysis for the diagnosis,
staging, treatment planning and assessment of treatment response in
oncology. Mirada’s advanced technology allows medical images acquired
using MRI, CT, SPECT or PET scanners to be combined into one, a process
known as image fusion. Image fusion is useful in clinical interpretation
as it allows different qualities of information to be combined into a
single picture, for example, functional information such as metabolic
activity, to be combined with anatomical information showing the precise
location of pathology relative to bones and organs. This provides
clinical users with a more complete picture, thereby improving the
quality of information available when managing a patient’s condition.
Mirada’s products are designed to support the comparison of multi-modal
images acquired over any number of follow up visits by the patient,
making them particularly well suited to the analysis of treatment
response in longer term treatment plans such as those typical when
treating cancer.

Mirada Medical was formed out of Oxford University by Professor Sir
Michael Brady, one of the world’s leading medical imaging scientists. The
Company is ISO 13485 certified and its technology has been supplied
globally to customers in countries including the US, Japan, and Europe
since 2001. Mirada’s products are sold by Mirada but also by major
healthcare players such as McKesson, Siemens, Sectra, Carestream and
Vital Images.

The Mirada team is a combination of world class scientists and
exceptional engineers sourced from both Oxford University and leading
blue-chip companies. For more information about Mirada Medical, please
visit www.mirada-medical.com.

For more information, please contact:
Mirada Medical
Europe: Hugh Bettesworth
CEO
tel: +44 (0) 1865 811172
US: Joan Washburn
tel: +1 865 696 7809

M:Communications
Mary-Jane Elliott
Emma Thompson
tel: +44 (0)20 7920 2345
Healthcare@mcomgroup.com

Filed Under: International News Tagged With: breast cancer, breast ultrasound, business acumen, Copenhagen University, emory university, Europe Bv, executive chairman, Global Experience, group executive, Healthcare Technology, Imaging Corporation, Imaging Diagnostic Systems, Iversen, Medical Ag, New Medical Technology, Occult Breast Cancer, Oncology Imaging, oxford uk, Storz Medical, Toshiba Medical Systems

Medusa Mining Limited: Appointment of Non-Executive Chairman

July 10, 2010 By vani Leave a Comment

COMO, WESTERN AUSTRALIA, Jul 09 (MARKET WIRE) —
The Directors of Medusa Mining Limited (TSX: MLL)(ASX: MML)(AIM: MML) are
pleased to announce the appointment of Peter R Jones as Non-Executive
Chairman of the Board effective immediately.

Mr Jones is a retired Canadian mining engineer with over 40 years of
experience in a variety of mining executive positions including
operational, consulting and project management. More recently in 2004, as
CEO of Hudson Bay Mining and Smelting Co. Limited (“HBMS”), a wholly
owned subsidiary of Anglo American plc., Peter was instrumental in the
purchase of HBMS by HudBay Minerals Inc.

Mr Jones is a former Chairman of the Mining Association of Canada and in
2006 was named Canadian Prairie Region Entrepreneur of the Year by Ernst
& Young LLP. He has been actively involved with the Canadian Mining
Association in investigating and understanding key worldwide issues
facing mining companies and is a proponent of good corporate governance
practice.

In addition to being Non-Executive Chairman, Peter will also serve as a
member of the Audit and Remuneration Committees.

Mr Peter Hepburn-Brown, who served as Acting Chairman prior to the
appointment of Mr Jones, will now revert to his previous position of
Non-Executive Director.

Geoffrey Davis, Managing Director of Medusa, commented:

“The Company is very fortunate to be able to attract a person of Peter’s
calibre to assume the role of Non-Executive Chairman and we welcome him
to the Board. His appointment will greatly enhance the Company’s presence
in the Canadian market.

Peter’s technical expertise, particularly in underground mining and
management, and experience of being actively involved in the corporate
governance of public companies will prove beneficial and will complement
the views of the current Board members.

Medusa’s prospects are considerable and we look forward to Peter’s
valuable contribution as the Company embarks towards further expansion
and growth.”

ABN: 60 099 377 849

Contacts:
Australia
Medusa Mining Limited
Geoffrey Davis
Managing Director
+61 8 9367 0601

Medusa Mining Limited
Roy Daniel
Finance Director
+61 8 9367 0601
+61 8 9367 0602 (FAX)
admin@medusamining.com.au
www.medusamining.com.au

United Kingdom
Fairfax I.S. PLC
Nominated Adviser/Joint Broker
Ewan Leggat
+44 (0)20 7598 5368

Lothbury Financial Services
Michael Padley/Libby Moss
+44 (0)20 7868 2010

Canada
Nicholas Sayce
Investor Relations
+1 416 822 4404

Filed Under: International News Tagged With: Anglo American Plc, Association Of Canada, Current Board, Ernst Young, executive chairman, Executive Positions, good corporate governance, Hbms, Hudbay Minerals Inc, Hudson Bay Mining And Smelting, medusa, Mining Association, Mining Companies, Mining Engineer, Operational Consulting, Peter R Jones, Remuneration Committees, Underground Mining, Western Australia, Worldwide Issues

Aker Solutions ASA: Lieungh leaves Aker Solutions

June 17, 2010 By vani Leave a Comment

16 June 2010 – Simen Lieungh is stepping down from his position as President & CEO of
Aker Solutions. Chief Financial Officer Leif H. Borge will act as President until
Lieungh’s successor has been recruited. During this period, Mr Øyvind Eriksen will in
his capacity as Executive Chairman of the Aker Solutions Board take on the CEO role.

Lieungh’s departure, with effect from Wednesday 16 June, has been agreed with the Board
of Directors. The Board will now start the process of identifying and engaging his
successor – a process they expect will take some time.

“Aker Solutions has moved forward under Lieungh’s leadership. Despite some challenging
projects, the company has produced record results and today the order book is in good
shape” says Øyvind Eriksen. “Leif Borge and I will work closely together, keeping a
steady course until the new CEO is in place. There will be no change in strategic
direction,” continues Eriksen.

Lieungh has been with the company for 22 years. After his early days as a planning
engineer, he was rapidly promoted to project director and then executive director,
before becoming President & CEO of the company.

“My departure from the company is the result of an understanding that the Board and I
have arrived at over some time. It is not a result of any specific issues related to
operations or projects. I don’t intend to discuss this in any more detail but will say
that I am sorry not to be part of Aker Solutions’ continuing success, and that I look
forward to seeing the results of the work that we have started together,” says Simen
Lieungh.

In his interim role Øyvind Eriksen will not take part in any decisions that concern Aker
Solutions’ commercial or business relations with Aker ASA or other companies owned by
Aker.

Øyvind Eriksen will continue as President & CEO of Aker ASA.

The Aker Solutions Board has appointed director Mikael Lilius as deputy chairman. He
will take an active role in the company’s ongoing strategy work. Board member Lone Fønss
Schrøder will take Eriksen’s place on the audit committee until in the new President &
CEO is in place.

Lieungh will receive six months’ salary in lieu of notice and the equivalent of a
further 14 months’ salary as severance pay. His annual salary is NOK 4.5 million. While
acting as president, Leif Borge’s salary will be increased by the equivalent of NOK 1
million per year.

More information about Aker Solutions’ Board of Directors and Executive Management Team
is available at www.akersolutions.com http://www.akersolutions.com/ .

ENDS

For further information, please contact:

Media
Geir Arne Drangeid, Exec Vice President, Communications, Aker Solutions ASA. Tel: +47 67
51 30 36

Investor relations
Lasse Torkildsen, SVP Investor Relations, Aker Solutions ASA. Tel: +47 67 51 30 39

Career opportunities
Visit http://www.akersolutions.com/Internet/CareerCentre/default.htm

http://www.akersolutions.com/Internet/CareerCentre/default.htm

Aker Solutions ASA, through its subsidiaries and affiliates (“Aker Solutions”), is a
leading global provider of engineering and construction services, technology products
and integrated solutions. Aker Solutions’ business serves several industries, including
oil & gas, refining & chemicals, mining & metals and power generation. The Aker
Solutions group is organised in a number of separate legal entities. Aker Solutions is
used as the common brand/trademark for most of these entities

This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian
Securities Trading Act)

Filed Under: International News Tagged With: 22 years, Aker, asa, board of directors, borge, Business Relations, Ceo Role, chief financial officer, decisions, deputy chairman, Eriksen, executive chairman, Executive Director, Good Shape, Lilius, Planning Engineer, President Ceo, Simen, Strateg, will take some time

Northland Resources S.A.: William S Wagener retires as EVP Finland

June 17, 2010 By vani Leave a Comment

June 16, 2010 Northland Resources S.A. (“Northland” or “the Company”) advises that
William S. Wagener has expressed his wish to retire from the Company to return to North
America and will leave his position as Executive Vice President, Finland, for Northland.
Mr. Wagener will remain with the Company through the end of July to ensure a smooth
transition of his duties and responsibilities.

“We are going to miss Bill in the Management Team as well as in the Company as a whole.
Northland has many achievements that are the result of Bill’s vision and leadership
skills”, said Northland’s President and CEO, Karl-Axel Waplan.

“We wish Bill and his wife Patty all the best in the years to come in their retirement
and return to North America”, Mr. Waplan continued.

William S. Wagener joined Northland in August 2005 as the Business Manager. He has
served the Company in a number of different roles including Chief Financial Officer,
Chief Operating Officer and since October 2009, Executive Vice President Finland.

For more information please contact:

Karl-Axel Waplan, President and CEO: +46 705 104 239

Anders Hvide, Executive Chairman: +47 92 88 98 58

Patrick Foster, Director Finance: +44 77 101 236 03

Jonas Lundström, VP of Human Resources and Corporate Communication +46 705 493 338

Marguerite Manshreck-Head, Investor Relations, Canada: +1 647 224 7882

Or visit our website at: www.northland.eu http://www.northland.eu/

This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian
Securities Trading Act)

Filed Under: International News Tagged With: axel, business manager, chief financial officer, chief operating officer, Corporate Communication, director finance, Disclosure Requirements, executive chairman, executive vice, Investor Relations, leadership skills, Management Team, marguerite, Northland, s vision, Securities Trading Act, Smooth Transition, V.P, Wagener, Wife Patty

Hunt for MGM CEO hits snag

June 17, 2010 By vani Leave a Comment

LOS ANGELES (Hollywood Reporter) – MGM’s parade of CEO candidates seems to have marched down a blind alley.

Entertainment

Former Viacom executive Jonathan Dolgen, and Fox veterans Peter Chernin and Bill Mechanic have made it clear they have no interest in taking the reins at the ailing studio despite urgings from lenders and the prospect of a recapitalized new ownership structure.

At the same time, lenders have been unable to work up much enthusiasm for others interviewed as prospective new CEOs.

Well-regarded executives at indie labels Summit and Spyglass have been consulted but failed to convince weary Lion debtholders that their management prowess alone can put the studio back on the path to prosperity.

Burdened by a crushing debt load of almost $4 billion, MGM owners tried unsuccessfully to find a buyer for the studio and now seeks to fashion a financial and management restructuring. The goal: to buy three to four years of solvency in the hope the studio’s value will rise in the meantime.

In a bit of good news, investment films Qualia Capital, Anchorage Advisors and others remain interested in sinking $500 million or more into the Lion in exchange for an equity stake. That would get film chief Mary Parent back into action after movie development and releasing was halted because of the studio’s woes.

An idea gaining currency in the absence of an obvious candidate would be to keep the “office of the CEO” arrangement that’s been in place since Harry Sloan resigned as CEO in August to become non-executive chairman of MGM. Restructuring specialist Stephen Cooper would remain in place longer than planned, with Parent and CFO Bedi Singh maintaining co-CEO roles during a prepackaged bankruptcy to clean up debt.

In the process, studio equity would shift from a current group of owners to MGM lenders and any new equity investors. MGM’s ownership consortium includes Providence Equity, TPG Capital, Sony, Comcast, DLJ Merchant and Quadrangle. J.P. Morgan leads a steering committee representing more than 100 MGM debtholders, though consolidation of publicly traded Lion debt in recent months means one-third of the debt now is held by Highland Capital and a handful of other lenders. Lenders holding two-thirds of the studio’s debt would have to approve any prepackaged bankruptcy.

MGM has the sci-fi thriller “Red Dawn” set for release in November and the horror thriller “Cabin in the Woods” slotted for January. But no trailers have been shot, and it’s assumed both will be pushed to later release dates.

The situation has been frustrating for those still in the trenches at MGM. But some see a silver lining in the incremental management shifts since MGM’s financial woes reached crisis proportions. Older-guard executives tended to be too laid back to address the Lion’s increasingly dire challenges, some suggest.

“We’d be sitting in a meeting with all these problems and $4 billion of debt, and we’d be talking about that night’s Lakers tickets,” a studio insider recalled. “There was always two MGMs — the old MGM and the Mary Parent MGM. If Mary Parent had her way, the Bond film would come out in November.”

MGM’s rights to the James Bond movie franchise represent its most highly valued asset, but the studio recently was forced to postpone development on the next Bond picture until its corporate problems were sorted. A planned co-production with Warner Bros. based on J.R.R. Tolkien’s fantasy tome “The Hobbit” also has been delayed.

Filed Under: International News Tagged With: Bill Mechanic, blind alley, current group, Debt Load, Dlj, Equity Investors, Equity Stake, executive chairman, Harry Sloan, hollywood reporter, Indie Labels, J P Morgan, Jonathan Dolgen, Ownership Structure, Peter Chernin, quadrangle, Solvency, Spyglass, Stephen Cooper, Tpg Capital

APPOINTMENT OF NOMINATED ADVISOR AND JOINT BROKERS

June 11, 2010 By vani Leave a Comment

For Immediate Release
10 June 2010

European Goldfields Limited

APPOINTMENT OF NOMINATED ADVISOR AND JOINT BROKERS

10 June 2010 – European Goldfields Limited (TSX / AIM: EGU) (“European
Goldfields” or the “Company”) is pleased to announce the appointment of
Liberum Capital Limited as Nominated Adviser and Joint Broker and
Evolution Securities Limited as Joint Broker to the Company. These
appointments take place with immediate effect.

Commenting on the appointment, Martyn Konig, Executive Chairman and
President of European Goldfields, said: “We see the appointment of
Liberum Capital and Evolution Securities as key to developing our
London investor base and enhancing London liquidity to complement the
strong trading activity in the Company’s shares on the Toronto Stock
Exchange.This decision follows a review by European Goldfields of its
advisors as it readies itself for development of its key projects in
Romania and Greece.”

About European Goldfields

European Goldfields is a developer-producer with globally significant
gold reserves located within the European Union. The Company generates
cash flow from its 95% owned Stratoni operation, a high grade lead/zinc
/silver mine in North-Eastern Greece and the sale of gold concentrates
from Olympias. European Goldfields will evolve into a mid tier producer
through responsible development of its project pipeline of gold and
base metal deposits at Skouries and Olympias in Greece and Certej in
Romania. The Company plans future growth through development of its
highly prospective exploration portfolio in Greece, Romania and Turkey.

For further information please see the Company’s website at
www.egoldfields.com

For further information please contact:

European Goldfields:
Liberum
Capital Limited

Sally Schofield, VP Investor
Relations Simon Atkinson

e-mail: info@egoldfields.com
Michael Rawlinson

Tel: +44 (0)20 7408 9534
Tel: +44 (0)20
3100 2000

Buchanan Communications:
Evolution Securities Limited

Bobby Morse / Katharine
Sutton Rob Collins

e-mail: bobbym@buchanan.uk.com Tim
Redfern

Tel: +44 (0)20 7466 5000
Tel: +44 (0)20 7071 4300

Forward-looking statements

Certain statements and information contained in this document,
including any information as to the Company’s future financial or
operating performance and other statements that express management’s
expectations or estimates of future performance, constitute
forward-looking information under provisions of Canadian provincial
securities laws. When used in this document, the words
“anticipate”,”expect”, “will”, “intend”, “estimate”, “forecast”, “planned”
and
similar expressions are intended to identify forward-looking statements
or information. Forward-looking statements include, but are not limited
to, the estimation of mineral reserves and resources, the timing and
amount of estimated future production, costs and timing of development
of new deposits, permitting time lines and expectations regarding metal
recovery rates. Forward-looking statements are necessarily based upon a
number of estimates and assumptions that, while considered reasonable
by management, are inherently subject to significant business, economic
and competitive uncertainties and contingencies.

The Company cautions the reader that such forward-looking statements
involve known and unknown risks, uncertainties and other factors that
may cause the actual financial results, performance or achievements of
the Company to be materially different from its estimated future
results, performance or achievements expressed or implied by those
forward-looking statements and the forward-looking statements are not
guarantees of future performance. These risks, uncertainties and other
factors include, but are not limited to: changes in the price of gold,
base metals or certain other commodities (such as fuel and electricity)
and currencies; uncertainty of mineral reserves, resources, grades and
recovery estimates; uncertainty of future production, capital
expenditures and other costs; currency fluctuations; financing and
additional capital requirements; the successful and timely permitting
of the Company’s Skouries, Olympias and Certej projects; legislative,
political, social or economic developments in the jurisdictions in
which the Company carries on business; operating or technical
difficulties in connection with mining or development activities; the
speculative nature of gold and base metals exploration and development,
including the risks of diminishing quantities or grades of reserves;
the risks normally involved in the exploration, development and mining
business; and risks associated with internal control over financial
reporting. For a more detailed discussion of such risks and material
factors or assumptions underlying these forward-looking statements, see
the Company’s Annual Information Form for the year ended 31 December
2009, filed on SEDAR at www.sedar.com. The Company does not intend, and
does not assume any obligation, to update or revise any forward-looking
statements whether as a result of new information, future events or
otherwise, except as required by law.

This information is provided by RNS
The company news service from the London Stock Exchange

END

Contacts:
RNS
Customer
Services
0044-207797-4400
rns@londonstockexchange.com

http://www.rns.com

Filed Under: International News Tagged With: buchanan, e-mail, Eastern Greece, European Goldfields, executive chairman, Exploration Portfolio, Gold Concentrates, gold reserves, investor base, Konig, liquidity, Mail Info, Project Pipeline, rawlinson, Responsible Development, schofield, Silver Mine, Simon Atkinson, Toronto Stock Exchange, Vp Investor Relations

Vivakor Announces Substantial Reduction of Company’s Long Term Debt Position and…

June 5, 2010 By vani Leave a Comment

Vivakor Announces Substantial Reduction of Company’s Long Term Debt Position and
Finalizes Health America Inc. Acquisition

CORALVILLE, Iowa, June 4, 2010 (GLOBE NEWSWIRE) — Vivakor, Inc. (OTCBB:VIVK)
today announced the Company has reduced its long and short term debt by an
additional $510,000 by converting those debts to shares of common stock. This
substantial debt reduction through conversion to stock finalizes the acquisition
payments for Health America Inc. and the VIVASLICES MRI software technology,
which the company purchased in August of 2008. VIVASLICES is a software
technology which increases image resolution of previous generations of MRI
units, thereby saving hospitals and clinics with older equipment millions of
dollars in costs related to purchasing new MRI units with enhanced image
resolution capacity.

Vivakor Executive Chairman Matt Nicosia added this statement to the news: “This
reduction of the Company’s debt represents both the positive outlook by
management and its creditors as we make progress on both the commercialization
of VIVASLICES and other Vivakor technologies. Additionally the Company has now
eliminated all of its long term debt, which increases shareholder equity and
improves the balance sheet. This elimination of long term debt allows the
Company to devote its resources to technology commercialization and development.
We look forward to completing the Company’s financing needs which will add to
the Company’s sustainability and improve the outlook for Vivakor.”

About Vivakor, Inc.

Vivakor(TM) is a biomedical/biotechnology company with transdisciplinary
research that develops and acquires products in the fields of molecular
medicine, electro-optics, biological handling and natural and formulary
compounds that extend or improve life. More information can be found about
Vivakor at www.vivakor.com.

About VIVASLICES

The VIVASLICES software runs on commercial off-the-shelf (COTS) hardware. This
proprietary software provides advanced processing, rendering and display of
medical images from Magnetic Resonance Imagers used in Diagnostic Radiology.
VIVASLICES improves the operations of MRI scanners by creating better images
from the MR’s data, shortens scan times up to 50% for patient comfort and
improved throughput. Additionally VIVASLICES reduces operating cost by reducing
film consumption from 30% to 80%.

FORWARD-LOOKING STATEMENTS

This press release may contain forward-looking statements, including, but not
limited to, statements regarding Vivakor’s products and their related market
potential. Forward-looking statements may be identified by the use of the words
“anticipates,” “expects,” “intends,” “plans,” “should,” “could,” “would,” “may,”
“will,” “believes,” “estimates,” “potential,” or “continue” and variations or
similar expressions. These statements are based upon the current expectations
and beliefs of management and are subject to certain risks and uncertainties
that could cause actual results to differ materially from those described in the
forward-looking statements. These risks and uncertainties include, but are not
limited to, risks and uncertainties discussed in Vivakor’s filings with the
Securities and Exchange Commission, which factors are incorporated herein by
reference. Readers are cautioned not to place undue reliance on any of these
forward-looking statements. Vivakor undertakes no obligation to update any of
these forward-looking statements to reflect events or circumstances after the
date of this press release or to reflect actual outcomes.

CONTACT: Vivakor, Inc.
Investor Relations
(888) 648-8486

Filed Under: International News Tagged With: Biotechnology Company, common stock, Coralville Iowa, debt position, Electro Optics, executive chairman, har, Health America, Image Resolution, Molecular Medicine, Mri Software, nicosia, Otcbb, positive outlook, Shareholder Equity, Software Technology, Substantial Debt, substantial reduction, Technology Commercialization, term debt

Virage Logic`s Executive Chairman to Present at the UBS Global Technology and Services Conference

June 3, 2010 By vani Leave a Comment

FREMONT, Calif.–(Business Wire)–
Virage Logic Corporation (Nasdaq:VIRL), the semiconductor industry’s trusted IP
partner, announced today J. Daniel McCranie, Executive Chairman, will be
presenting at the UBS Global Technology and Services Conference on Tuesday, June
8th at 1:30 pm EDT. The conference will be held at the Crowne Plaza Times Square
in New York City.

A live webcast and replay of Virage Logic`s presentation at the UBS conference
will be available at:
http://cc.talkpoint.com/ubsx001/060810a_cy/?entity=101_QKO014H or on the
investor relations page of the Virage Logic web site.

About Virage Logic

Virage Logic is a leading provider of semiconductor intellectual property (IP)
for the design of complex integrated circuits. The company’s highly
differentiated product portfolio includes processor solutions, interface IP
solutions, embedded SRAMs and NVMs, embedded test and yield optimization
solutions, logic libraries, and memory development software. As the
semiconductor industry’s trusted IP partner, more than 400 foundry, IDM and
fabless customers rely on Virage Logic to achieve higher performance, lower
power, higher density and optimal yield, as well as shorten time-to-market and
time-to-volume. For further information, visit http://www.viragelogic.com.

All trademarks are the property of their respective owners and are protected
herein.

Virage Logic Corporation
Brian Sereda, 510-360-8017
Chief Financial Officer
brian.sereda@viragelogic.com

Filed Under: International News Tagged With: Crowne Plaza Times Square, development software, executive chairman, Fabless, Further Information Visit, Global Technology, Integrated Circuits, live webcast, Logic Corporation, Logic Web, Memory Development, Optimization Solutions, Processor Solutions, product portfolio, semiconductor industry, Semiconductor Intellectual Property, Sereda, Time To Market, Virage, Virage Logic

Kings plan to reign again

March 25, 2010 By vani Leave a Comment

Two years ago the Sydney Kings folded with their reputation in tatters and players and staff wondering if they were ever going to get paid.

Now they have been re-born and a new ownership group insists players have nothing to fear and the mistakes of the past will never be repeated.

Former coach Bob Turner has been named general manager of the club, which will have a three-pronged ownership consortium, led by former Myer executive chairman Bill Wavish.

Discussions are ongoing about where the club will call home, with the Sydney Entertainment Centre the preferred option.

The once-proud club shut its doors in 2008 after being slowly mismanaged into the ground, with disgraced businessman and former owner Tim Johnston the man who fired the final bullet into the team’s carcass.

Max Schroder, another member of the new consortium, says the situation where players were not being paid will not be seen again.

“The investors behind this (new club) were absolutely appalled at that,” Schroder said in Sydney on Wednesday.

“It was dreadful that young people, young family men or whatever being unpaid, I think that’s lower than a snake’s belly.

“We want to make sure there’s a structure in place where that can’t happen, where Max Schroder can walk under the big, red bus but the whole thing can keep going.

“That I think can give confidence to players.”

When the club was born in 1988 it grew quickly and enjoyed strong crowds and healthy finances for most of the 1990s without ever winning a championship.

By the time Brian Goorjian finally coached the club to three consecutive titles between 2003-05, poor management and a move away from the sport’s grassroots had turned fans away.

Ticket prices were heavily increased while key supporter initiatives like school visits had been scrapped, two things that will be reversed under the new management structure.

“The main thing is we went away from making it fan-friendly and making it affordable and putting on a good show,” Turner said.

“Winning helps, unfortunately I coached the Kings for seven years and we never won the title, but I’m proud to say we filled the stadium and gave it 100 per cent every time we played.

“That is the intention right away. There’s plenty of basketball players here, plenty of basketball supporters in this state who want to see good basketball and we will do that.

“[And] we need to go back to what made this franchise one of the best-known sporting icons in Australia when we did a lot of work within the community to not only push the sport, but also push the city of Sydney.”

Goorjian has been touted as a possible coach, along with former King Ian Robilliard, while the club intends to contact former players about returning, including European-based former captain Matt Nielsen.

- AAP

Filed Under: International News Tagged With: Bob Turner, Chairman Bill, Coach Bob, consecutive titles, executive chairman, Family Men, Final Bullet, nothing to fear, Owner Tim, ownership group, poor management, Preferred Option, Red Bus, School Visits, Schroder, Sydney Entertainment Centre, Sydney Kings, Tim Johnston, Time Brian, winning a championship

Former oil boss to lead inquiry into ‘climategate’ scandal

March 23, 2010 By vani Leave a Comment

Washington, March 23 (ANI): In an ironical turn of events, a former oil boss will lead the latest inquiry into the ‘climategate’ scandal over the science of man made global warming.

According to a report in the Telegraph, Lord Oxburgh, former non-executive chairman of Shell, will head up a team of leading scientists looking at claims that fossil fuels cause global temperatures to rise.

The new inquiry will look into the mountains of research by the University of East Anglia”s Climatic Research Unit (CRU).

The university is the leading institution for climate change research and has influenced government policy around the world.

But the theft of thousands of emails cast doubt on the science in a scandal known as ‘climategate’.

Skeptics claim that the emails show scientists were wiling to manipulate the data to show global warming.

Already, there are various ongoing inquiries into the behaviour of the scientists involved and legal implications.

But Lord Oxburgh is leading the first inquiry to look at the science being discussed in the emails.

Lord Oxburgh trained as a geologist and has been chief scientific adviser for the Ministry of Defence and Rector of Imperial College and chairman of the Lords Select Committee on Science and Technology.

Climate skeptics questioned whether Lord Oxburgh, chairman of the Carbon Capture and Storage Association and the wind energy company Falck Renewables, was truly independent because he led organisations that depended on climate change being seen as an urgent problem.

Andrew Montford, a climate-change skeptic who writes the widely-read Bishop Hill blog, said that Lord Oxburgh had a “direct financial interest in the outcome” of his inquiry.

Lord Oxburgh has said that he believes the need to tackle climate change will make capturing carbon from power plants “a worldwide industry of the same scale as the international oil industry today”.

The university appointed Lord Oxburgh, a geologist and former chairman of the Lords Select Committee on Science and Technology, after consulting the Royal Society, of which he is a fellow.

Professor Trevor Davies, the university’s pro-vice-chancellor for research, said that the university had been aware of Lord Oxburgh’s business interests but believed that he would lead the panel of six scientists “in an utterly objective way”.

“The shadow hanging over climate change and science more generally at present makes it a matter of urgency that we get on with this assessment. We will undertake this work and report as soon as possible,” Lord Oxburgh said. (ANI)

Filed Under: International News Tagged With: Bishop Hill, cast doubt, Climate Change Research, Climatic Research Unit, east anglia, executive chairman, Financial Interest, global temperatures, imperial college, International Oil Industry, legal implications, Lord Oxburgh, Lords Select Committee, ministry of defence, power plants, skeptics, Storage Association, university of east anglia, Wind Energy Company, worldwide industry

Cape Lambert off-loads Lady Annie mine

March 16, 2010 By vani Leave a Comment

An exploration company has sold its copper mine in north-west Queensland less than a year after it purchased the operation.

Cape Lambert Resources, based in Western Australia, has sold the Lady Annie Mine near Mount Isa for $135 million.

Executive chairman Tony Sage says the company’s objective has always been to develop mines rather than operate them and the sale will bring benefits to the region.

“The first thing though is obviously to get the mining operation – a lot of the services around Mount Isa will be increased, as well with fuel obviously, just groceries and that – that will need to run the camp out there,” he said.

“You have got to feed over 100 people.

“The whole region will get a spin-off effect starting from June right through the end of December.”

He says a Hong Kong listed company purchased Lady Annie and it is expected operations will “ramp up” over the next few months.

“The new owners are operators, they are going to start I would say from the beginning of May to crank everything up,” he said.

“The mining operation will restart and also the processing operation, so the mining operation will start first and they take full control beginning of June.

“You will see a big ramp-up from there.”

Filed Under: International News Tagged With: annie, Cape Lambert, Chairman Tony, company news, Copper Mine, executive chairman, Exploration Company, groceries, Hong Kong, industry, Listed Company, longreach-4730, lot, mining, Mount Isa, mount-isa-4825, objective, Qld, Queensland, SAGE, wa, Western Australia

Centre creates “Invest India” company to promote foreign investment in the country

September 10, 2009 By admin Leave a Comment

New Delhi, Sep 10 (ANI): The Union Cabinet on Thursday approved the formation of a company ‘Invest India’ for the promotion of foreign investments under the Ministry of Commerce and Industry.

Announcing the formation of ‘Invest India,’ Commerce and Industry Minister Anand Sharma said “The company will be a joint venture between the Government of India, the Federation of Indian Chambers of Commerce and Industry (FICCI) and the State Governments will be responsible for promoting foreign investments into the country in a more focused, comprehensive and structured manner.”

The new company is expected to assist the government in its efforts towards projecting India as an attractive investment destination for foreign investors. The company will also assist foreign investors in identifying and realizing investment opportunities in India.

“The unique feature of this company is the partnership between the private sector organization and the Government of India and the State Governments. This is, unlike anywhere else in the world and seeks both to leverage the synergies of all three as well as address their investment priorities,” Sharma added.

Sharma informed that “The Board of Directors of the Invest India comprises of six members from Department of Industrial Policy and Promotion (DIPP) and six members from FICCI.”

“Secretary DIPP will be its Non Executive Chairman. The Board of Directors will appoint a Managing Director and FICCI will provide the administrative, personnel and management support for day to day functioning,” Sharma said.

The authorized capital of the company will be Rs 10crore and the initial paid up capital Rs. one crore. While FICCI will have 51percent share in the equity, DIPP will have 49 percent share to begin with. DIPP’s share will be reduced overtime to 35 percent of paid up capital with induction of fresh equity by the State Governments.

The company will act as the first reference point for any investor interested in India and will also facilitate in setting up business within the country, by making available sector wise consultants and coordinating with the state government on feasible measures, Sharma said. (ANI)

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Hiring of Raphel to coordinate non-military Pak aid against Obama’s lobbying rules

August 8, 2009 By admin Leave a Comment

Washington, Aug. 8 (ANI): The US State Department has hired a former Pakistan lobbyist to coordinate the non-military aid to Islamabad, highlighting loopholes in the Obama administration’s tough new lobbying rules.

Soon after taking office, Obama had issued an executive order designed to prevent federal agencies from hiring individuals who had lobbied the agencies within the past two years.

Robin Raphel, who held top foreign posts during the Clinton administration, has been a senior vice president for Cassidy and Associates, one of K Street’s largest firms, The Hill reports.

The records indicate that Raphel’s appointment could conflict with the order since she lobbied State and also was a foreign agent for Pakistan, albeit briefly.

She, however, might be exempted from the ban already. The order specifically exempts “any person appointed as a member of the Senior Foreign Service or solely as a uniformed service commissioned officer,” according to the order.

Raphel’s position could also not be a political appointment, which likewise would exempt her from the ban.

If Raphel is not exempted already from the ban, she could earn a waiver from the president.

Obama has already issued waivers from the lobbyist-hiring ban for several appointees, such as Bill Lynn, the deputy secretary for the Defense Department.

The exemptions have however, been criticized by lawmakers and watchdog groups.

The Cassidy and Associates, which had finalized its 696,000 dollars contract with the Pakistan Embassy in Washington to “engage in efforts to improve Pakistan-U.S. relations, issued a statement congratulating Raphel.

“While we hate to lose Robin as part of our team, we wish her all the best in her new position and we’re confident of her success as she works to strengthen and improve America’s reputation around the world,” said Gerry Cassidy, executive chairman stated. (ANI)

Filed Under: International News Tagged With: administration., Agent, aid, america, ANI, Appointees, appointment, associates, Aug, ban, Bill Lynn, briefly, Cassidy And Associates, chairman, clinton, clinton administration, conflict, congratulating, defense, department, deputy, deputy secretary, embassy, embassy in washington, executive, executive chairman, executive order, foreign, Gerry Cassidy, hiring, Islamabad, K Street, lobbying, lobbyist, loopholes, member, military aid, new position, Obama, office, officer, order, Pak, Pakistan, pakistan embassy in washington, part, person, Political Appointment, position, president, reputation, Robin, Robin Raphel, secretary, Senior, senior foreign service, senior vice president, service, state, statement, success, team, The Hill, Uniformed Service, us state department, vice, waiver, Washington, watchdog, watchdog groups, world

Gautam Thapar accepts role to join Asian Tour Board

May 25, 2009 By admin Leave a Comment

Sentosa, May 25 (IANS) The Asian Tour today announced that India’s Gautam Thapar has accepted to become a Board Member on the Asian Tour.

Thapar, the President of the Professional Golf Tour of India (PGTI) has been instrumental in the robust growth and consolidation of PGTI since its inception in September, 2006.

One of the most respected figures in India where he is Chairman and CEO of Avantha Group, the country’s foremost diversified corporation, Thapar is a keen supporter of golf and has back numerous tournaments in India.

Asian Tour Executive Chairman Kyi Hla Han said: “We are delighted to announce that Gautam Thapar has graciously accepted our invitation to become a Board Member on the Asian Tour.

“Thapar will bring a wealth of knowledge, vision and expertise for the Asian Tour to continue with our mission to develop and promote professional golf at the highest level across the region.

Thapar said he was looking forward to playing a key role on the Asian Tour, which is the official sanctioning body for professional golf in the region.

“I am honoured and delighted to accept the invitation to become a Board Member of the Asian Tour,” said Thapar.

“The stature of the professional game across the region and in India has risen tremendously over the past five years due to the Asian Tour. I am looking forward to contributing towards the continued growth and development of the game on the Asian Tour.”

Thapar joins Rick Siemens, Ho Lon Gee and Han as non-playing members of the Asian Tour Board of Directors while the playing members are Lam Chih Bing, Unho Park and Zhang Lian-wei.

The Board establishes the vision and policies of the Asian Tour and directs the strategic development of the organisation.

Filed Under: International News Tagged With: asian tour, board member, Diversified Corporation, executive chairman, growth and development, HLA, Keen Supporter, key role, Lian, Pgti, Professional Game, Professional Golf Tour, Robust Growth, Sentosa, Strategic Development, Thapar, today announced that, Tour Executive, Unho Park, wealth of knowledge

Two top-rung executives of ICICI Bank reportedly putting in their papers

April 20, 2009 By admin Leave a Comment

Substantiating the December 2008 reports that some top-rung executives of ICICI Bank may quit after Chanda Kochhar’s appointment as the new CEO and MD, two business chiefs – Renuka Ramnath ICICI Ventures’ Managing Director and CEO; and Shikha Sharma, Managing Director of ICICI Prudential Life Insurance – are likely to put in their papers, sooner than later.

The news of the two executives likely to quit the country’s biggest private-sector banking firm come days ahead of Kochhar taking over the reins of the ICICI Bank from K V Kamath on May 1. Both Ramnath and Sharma were reported to be under consideration as successors to Kamath, who will assume the role of a non-executive chairman.
Though Ramnath officially put off a question by VCCircle about her impending resignation saying “Not yet,” she has communicated her decision to her colleagues and ICICI Bank officials.

According to earlier reports by NDTV Profit, the 48-year old Ramnath – an ICICI veteran, who is referred to as the ‘mother’ of Indian private equity – may set up her own private equity fund after quitting ICICI Bank. It is also possible that she may join Kohlberg Kravis Roberts and Co, which recently set up India shop.

Meanwhile, Sharma is being considered the most high-profile contender for a top job at Axis Bank, whose current chief PJ Nayak will retire soon.

Filed Under: International News Tagged With: axis bank, bank officials, business chiefs, Chanda Kochhar, executive chairman, icici bank, icici prudential, india shop, K V Kamath, kohlberg kravis roberts, kohlberg kravis roberts and co, nayak, ndtv, ndtv profit, private equity fund, prudential insurance, prudential life insurance, reins, roberts and co, shikha sharma, top job

Sachin Is The Brand Ambassador Of Jaypee Cement

April 16, 2009 By admin Leave a Comment

While launching its new brand campaign, cement maker Jaypee Cement, a wholly owned arm of the Jaypee Group, has appointed master blaster Sachin Tendulkar as its brand ambassador.

Mr. Manoj Gaur, Jaypee Group Executive Chairman, said, Sachin and Jaypee Cement are a perfect fit as they stand for similar values of inner strength, endurance and ever lasting performance. These value have spurred both to set new benchmarks and made good the dreams and aspirations of all those who believe in Sachin and Jaypee Cement.

Sachin would get around Rs 4 crore per endorsement on a yearly basis.

The companys new campaign featuring Cricket legend is being released today, and it will make use of TV, print and OOH media.

The brand also sports a new tag line, Andar Se Solid that consolidates the brand’s core values of faith, buoyancy and steadiness.

Previously, there were two products under the Jaypee Cement banner, named ‘Buland’ with the tag line Buland Bharat ka Buland Cement, and Buniyaad, which had the tag line Yugon Yugon ka Saathi.

At the present, both the products have been faded out, and there is only single cement product from the Jaypee Group.

At this time, the brands Sachin endorses comprise Adidas, Aviva, RBS (Royal Bank of Scotland), Canon, MRF and Boost.

In 2008, Cola major PepsiCo dropped Tendulkar as its brand ambassador as the company felt the cricket star was too old to fit in its ‘youngistan’ communication campaign.

Filed Under: International News Tagged With: Aviva, bank of scotland, brand campaign, cement maker, communication campaign, crore, executive chairman, Gaur, group executive, inner strength, jaypee cement, manoj, Master Blaster, mrf, royal bank of scotland, saathi, Sachin Tendulkar, steadiness, strength endurance, tag line, tendulkar

Malaysia IOI sees CPO price rising to RM2,600-2,800/T

April 13, 2009 By admin Leave a Comment

KUALA LUMPUR, April 13 (Reuters) – Malaysia’s IOI Corp (IOIB.KL), the world’s third-largest listed palm oil producer, said that the price of crude palm oil would rise to 2,600-2,800 ringgit per tonne in the remainder of the year.

Malaysian crude palm oil futures hit a 7-month high on Friday as a slew of industry data warned of tightening domestic inventories, with the benchmark June contract KPOc3 on the Bursa Malaysia Derivatives Exchange closing at 2,299 ringgit ($636.3) per tonne.

“Six months ago I foresaw prices would likely surpass 2,000 ringgit a tonne,” IOI’s Executive Chairman Lee Shin Cheng told Monday’s Business Times newspaper.

IOI shares have rallied along with other planters as palm oil prices have recovered. The stock closed at 4.30 ringgit on Friday, up from an Oct. 28 12-month low of 2.08 ringgit.

(Reporting by David Chance, editing by Kim Coghill)

Filed Under: International News Tagged With: April, bursa, Bursa Malaysia, business, Business Times, chairman, Chairman Lee, Cheng, closing, coghill, contract, corp, CPO, crude, Crude Palm Oil, Crude Palm Oil Futures, David Chance, derivatives, Editing, exchange, executive, executive chairman, Friday, industry, inventories, IOI, Ioi Corp, IOIB, June, Kim Coghill, KPOc, Kuala Lumpur, lee, low, Malaysia, Monday, month, newspaper, oct, oil, palm, Palm Oil Futures, Palm Oil Prices, Palm Oil Producer, Planters, price, producer, remainder, reporting, reuters, ringgit, Shin, slew, stock, times, tonne, world, year

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Malaysia IOI sees CPO price rising to RM2,600-2,800/T

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