--(www.USEquityNews.com)-- 07/22/2008 - Uranium Exploration industry alert provided by U.S. Equity News. Nanophase Technologies (NASDAQ: NANX), a leader in nanomaterials and advanced nanoengineered products, announced that for the quarter ending June 30, 2008, the Company achieved total revenue of $2.94 million, compared to $4.1 million in the second quarter of 2007, and grew gross margin as a percentage of revenue to 38%. Nanophase reported a net loss of $788,000, or $0.04/share, for the quarter compared to $241,000, or $0.01/share, in the second quarter of 2007. "In an increasingly challenging economic and cost environment and considering the inventory stocking that occurred in the second quarter of 2007, Nanophase delivered a relatively solid quarter," stated Joseph Cross, Nanophase's president and CEO. "The quarter was as forecast, essentially flat to the first quarter. We knew that the second quarter of 2007 benefitted from architectural coating orders for retail rollout and inventory-building with our market partner, BYK Chemie, amounting to $1.2 million more revenue in that quarter than the current second quarter."
Lundin Mining Corporation (NYSE: LMC) ("Lundin Mining" or the "Company") is pleased to provide an update on the Tenke Fungurume Copper/Cobalt Project, in Katanga Province, Democratic Republic of Congo. Lundin Mining holds a 24.75% interest in Tenke Fungurume. The project is under construction by operating partner Freeport-McMoRan Copper & Gold Inc. ("Freeport"). Upon completion of this first phase of Tenke development, the mine is expected to produce approximately 115,000 metric tonnes per annum ("tpa") of copper cathode, and 8,000 tpa cobalt. First copper and cobalt production is forecast in the second half of 2009.
Quaterra Resources Inc. (AMEX: QMM) recently announced that it has finalized a Mining Lease with the General Land Office, State of Texas, on 523.746 acres in Culberson County, Texas covering all or parts of three breccia pipes, one of which was drilled in the 1960s and contains significant molybdenum mineralization. The Cave Peak molybdenum prospect, based on a preliminary review of all available data, has excellent geologic potential to contain an economic molybdenum deposit. Historic drilling at the Main pipe has identified a large mineralized system with high grade molybdenum mineralization that is open at depth; two other breccia pipes in the immediate vicinity have not been evaluated. The understanding of molybdenum systems has increased markedly since Union Carbide's work 40 years ago and should sharpen interpretation of both historic and current data.
Strongbow Resources, Inc. (OTCBB: STBR), a uranium exploration and development company, through its CEO Darren Hayes, recently announced that it has entered into a Memorandum of Understanding with Holloman Minerals, Ltd. of Perth, Australia to Farm-in up to 98% of seven (7) exploration license areas in the Frome Embayment near Lake Callabonna in South Australia covering an area of approximately 3,792 square kilometers (937,000 acres) known as the Cameron's Corner Palaeochannel Project (CCP Project). All of these areas are considered to be prospective for uranium and will form the basis for exploration activities. The Company's initial focus will be to explore the CCP Project Area by stages. The first stage will be an airborne electromagnetic survey to map channels and structure throughout the region with infill in the areas where channels or structure are indicated from previous work. Based on the results from this airborne survey and interpretation of existing data, the Company expects to target favorable structural belts and channels for follow up drilling. For a full report visit www.stocksjournal.com
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