First Liberty Power Corp.(FLPC.OB) has positioned itself to satisfy the demand for the minerals that the use of clean renewable energy will fuel. The company has announced the completion of the Gravity Survey of its Lida Valley, Nevada claim (LVW Claims),by Hasbrouck Geophysics Corp. and that it has provided positive results. According to the data from the survey, multiple deep trough systems have been identified that could be a possible catch basin for lithium brine.
First Liberty Power Corp. is a Nevada based mineral exploration company with a primary focus on lithium and vanadium exploration and development in the United States. Lithium-ion batteries and vanadium redox batteries are in demand for the use of clean renewable energy and the U.S. has a growing interest in the domestic production of lithium for its green energy plan.
Glyn Garner, CEO and President of First Liberty Power Corp.,said, “We are very encouraged by these positive results. With this gravity survey now complete, we can move forward with our exploration program. The company now has the data needed to plan phase two of exploration in the Lida Valley Playa.”
The development of lithium battery technology is pivotal to President Obama�s energy plan. Environmentally friendly lithium batteries will be an important part of the solution to America’s oil dependence as well as the issue of global warming
To that end, president Obama has signed a $790 billion economic stimulus plan that includes $5 billion for the development of a domestic battery industry.
If the U.S. continues in the direction of an alternative energy source, First Liberty claims could become very valuable.
Teck Resources Limited (NYSE:TCK) reported that its previously announced public offering of US$300 million aggregate principal amount of 3.85% notes due 2017 and US$450 million aggregate principal amount of 6.00% notes due 2040 has closed.
As a consequence of the closing of the notes offering, Teck expects to promptly accept for purchase 45.63%, or approximately US$434.6 million aggregate principal amount, of its 9.75% senior secured notes due 2014 that were tendered at or prior to the early tender date for its concurrent tender offer for its 9.75% senior secured notes due 2014 and 10.25% senior secured notes due 2016, which commenced on August 3, 2010.
The unsecured notes were offered via an underwritten public offering in the United States pursuant to an effective shelf registration statement on Form F-9 filed with the United States Securities and Exchange Commission.
Teck is a diversified resource company committed to responsible mining and mineral development with major business units focused on copper, steelmaking coal, zinc and energy. Headquartered in Vancouver, Canada, its shares are listed on the Toronto Stock Exchange under the symbols TCK.A and TCK.B and the New York Stock Exchange under the symbol TCK.
Potash Corporation of Saskatchewan Inc. (NYSE:POT) has received and unanimously rejected an unsolicited proposal from BHP Billiton Limited to enter into a transaction under which BHP Billiton would acquire PotashCorp for US$130 per share in cash. PotashCorp�s Board of Directors thoroughly reviewed BHP Billiton�s unsolicited proposal with the assistance of its independent financial and legal advisors and concluded that the proposal is grossly inadequate and it is not in the best interests of its shareholders for PotashCorp to enter into discussions with BHP Billiton.
“The PotashCorp Board of Directors unanimously believes that the BHP Billiton proposal substantially undervalues PotashCorp and fails to reflect both the value of our premier position in a strategically vital industry and our unparalleled future growth prospects,” said PotashCorp Chairman Dallas J. Howe. “After careful consideration, and in the interest of transparency, our Board determined to proactively disclose BHP Billiton�s unsolicited, non-binding proposal to our shareholders. We believe it is critical for our shareholders to be aware of this aggressive attempt to acquire their company for significantly less than its intrinsic value. The fertilizer industry is emerging from the recent global economic downturn, and we feel strongly that PotashCorp shareholders should benefit from the current and potential value of the Company. We believe the BHP Billiton proposal is an opportunistic effort to transfer that value to its own shareholders.”
PotashCorp President and Chief Executive Officer Bill Doyle commented, “Global demand for food is steadily increasing, creating an attractive operating environment for the entire fertilizer industry and, with our premier position, PotashCorp is uniquely poised to benefit. We believe our Board and management team are successfully executing our business plan and producing strong results. With our unmatched asset base and proven strategies, we believe we are well positioned to exceed the expectations of customers around the world and deliver compelling value to our shareholders.”
Potash Corporation of Saskatchewan Inc. is the world�s largest fertilizer enterprise by capacity producing the three primary plant nutrients and a leading supplier to three distinct market categories: agriculture, with the largest capacity in the world in potash, third largest in each of nitrogen and phosphate; animal nutrition, with the world�s largest capacity in phosphate feed ingredients; and industrial chemicals, as the largest global producer of industrial nitrogen products and the world�s largest capacity for production of purified industrial phosphoric acid.
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