General Metals Corporation (OTCBB: GNLM)
General Metals Update: Phase 1 Finance Discussions Underway and Phase 2 Deep Drilling Expansion Program on Course
RENO, Nev.–(BUSINESS WIRE)–General Metals Corporation (OTCBB:GNLM – News) is pleased to announce that discussions with potential equity funding groups for Phase 1 financing has commenced, although no definitive terms have been agreed to at this time. The Company is working towards completion of Phase 1, up to $2,000,000, by April 30, 2007, our year end. The proceeds will be used to drill the Independence surface and shallow target and the North surface target, which collectively are estimated to contain 235,000 ounces of gold and 2,500,000 ounces of silver. Some of the proceeds will be used to continue the permitting process for the proposed cyanide heap leach program designed to process the above gold and silver from an open pit operation.
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http://stockguru.com/profiles/gnlm/news.php
KAL Energy Inc. (OTCBB: KALG)
KAL Energy, Inc. Receives Strong Upgrade by Respected Research Firm
Management Reports Geological Estimates of 192 Million Tons of Coal
LONDON–(BUSINESS WIRE)–KAL Energy, Inc. (OTC BB: KALG – News) is pleased to announce a well-respected firm, TRI-STATE Capital (TSC), has upgraded their equity rating on KALG. This strong upgrade comes at a time when the company has received five operational drill rigs and has conducted over 1000m of exploratory drilling thus far. KAL Energy has rapidly increased its on-site workforce to 128 people, including 8 geologists. The increased workforce and rigs will be used to explore their concessions for additional coal seams as well as to excavate the estimated 192 million tons of coal situated near the Mahakam River in North Eastern Kalimantan, Indonesia. The strong upgrade is also due to the company anticipating drill results from the Thermal Coal Project in the coming weeks.
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http://stockguru.com/profiles/kalg/news.php
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