--(www.USEquityNews.com)-- 08/01/2008 - Uranium Exploration industry alert provided by U.S. Equity News. The board of directors of Arch Coal, Inc. (NYSE: ACI) today announced that Deck S. Slone has been elected vice president, government, investor and public affairs. Slone previously held the position of vice president, investor relations and public affairs. "Deck has contributed greatly to the company's growth and success in recent years, and I expect him to play an even more significant leadership role in this new and expanded position," said Steven F. Leer, Arch's chairman and chief executive officer. "I look forward to working closely with Deck in the future as we endeavor to create still greater value for our shareholders."
Brush Engineered Materials Inc. (NYSE: BW) today reported operating results for the second quarter of 2008 that were ahead of the Company's expectations and announced that its Board of Directors has authorized the Company to repurchase up to 1.0 million, or approximately 5% of the Company's outstanding shares of common stock. Sales for the second quarter of 2008 were $246.6 million and net income was $7.2 million or $0.35 per share diluted. Stronger demand for the Company's materials, especially from the consumer electronics and heavy industrial-related markets, as well as improved margins, led to the stronger than expected sales and earnings for the quarter. Second quarter earnings were negatively affected by the previously announced significant decline in the market price of ruthenium, an important material for the Company's products for the media market.
Massey Energy Company (NYSE: MEE) recently reported a year over year increase of 38 percent in second quarter produced coal revenue and an 8 percent increase in produced coal tons sold, highlighting the strength of the Company's expanding operations in Central Appalachia. Produced coal revenue for the quarter was a record $710.3 million compared to $516.2 million in the second quarter of 2007. Produced tons sold reached 10.8 million in the quarter compared to 10.0 million in the second quarter last year. In addition to the higher volume, the increased produced coal revenue was driven by an 83 percent increase in export shipments and a 36 percent increase in metallurgical coal sales. This combination resulted in average produced coal revenue per ton of $65.78, up 28 percent compared to the second quarter of last year.
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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