Corrected Press Release – Avanti Reports Results to June 30, 2010

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Tue, Aug 31, 2010
Moly Company News
Post by Geetha Raghavan, Moly Research Manager

Avanti Mining Inc. (CVE:AVT) reports there was a typographical error in the press release dated August 31, 2010 in which the historical resource at the Bell Moly deposit of 96.4 million tonnes was stated to have a grade of 0.54% instead of 0.054%.

 The corrected press release is as follows:

Avanti reported a net loss of $2.6 million ($0.01 per share) for the six months ended June 30, 2010 compared to a net loss of $2.8 million ($0.03 per share) for the comparable period in 2009. In addition the Company deferred $3.9 million (2009 – $2.5 million) relating to the development costs of the Kitsault property. The Company had a cash balance of $13.4 million on hand as at June 30, 2010.

For complete news release, click here.

For Avanti’s company profile, click here.

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  • Malkrob

    What a total waste of money, Wind can only produce a maximum 25% of capacity per turbine. Why not build nuclear ? It costs more to build turbines that can produce the same amount of power as one average nuclear plant and they can only do it when the wind blows ! Nuclear provides 24 hour electricity.

  • Thomas Mickelson

    Green energy is extreemly expensive , it would,nt even be considered in the private sector if the government was,nt subsidizing it . We should be building nuclear power plants like crazy ! Forget solar and wind power as our main sources of power.I,m a master electrician, I think I know what I,m talking about. China and other countries are building nuclear and coal fired power plants as fast as possible . Something like one a week, and were over here flushing money down the toilet, getting our country deeper in debt. The environmentalists screemed about the pipeline in Alaska ,supposedly worried about the environment. It was in the middle of no where and did,nt take much space. Aparrently the animals love it in the winter because it is warm from the oil being pumped through it. Anyway do the environmentalist care about the footprint of wind and solar farms ? They are absolutly huge ! They take up large tracts of land , and they are an eyesore . And what about all the birds that will be chopped up from the wind generators ! Supossedly the solar panels will last about 25 years , but I won,t believe it till I see it . Nuclear power is safe, Aparrently the fuel rods only need to be changed every 6 years.It puts out hugh amounts of power ,24 /7, not just when the sun is shining or when the wind is blowing ! Thomas M.

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