--(www.USEquityNews.com)-- 08/15/2008 - Uranium Exploration industry alert provided by U.S. Equity News. Ivanhoe Mines Ltd. (TO: IVN) recently announced its results for the second quarter that ended June 30, 2008. Commenting on the results for the quarter, and subsequent events in recent weeks, Executive Chairman Robert Friedland said SouthGobi Energy Resources and Ivanhoe Australia had achieved notable milestones in the implementation of a strategy previously announced by Ivanhoe management to daylight value for shareholders from mineral resource projects that had been assembled within the Ivanhoe Mines corporate portfolio of assets and supported through direct investments. "We have seen SouthGobi Energy Resources, our 79%-owned subsidiary, become the newest coal producer in Mongolia and report impressive, ongoing exploration success, greatly increasing its high-quality coal resources as it prepares to make its first export shipments to buyers in China," Mr. Friedland said.
National Coal Corp. (NASDAQ: NCOC), a Central and Southern Appalachian coal producer, reports that for the period ended June 30, 2008, it achieved total revenues of $31.6 million based primarily on the sale of 458,245 tons of coal. In the same prior-year period, National Coal generated revenues of $18.9 million primarily through the sale of 372,341 tons of coal. For the three months ended June 30, 2008, National Coal reported a net loss of $9.9 million and a negative EBITDA of $2.1 million, versus a net loss of $6.5 million and a negative EBITDA of $1.0 million reported in the year-ago quarter. Daniel A. Roling, President and CEO of National Coal, said of the net loss, "These results were primarily attributable to the dragline breakdown, which impacted second quarter revenues by approximately $5.5 million and reduced production by about 80,000 tons.
Crosshair Exploration & Mining Corp. (TO: CXX) is pleased to provide an update on the 2008 summer exploration program on the Company's Central Mineral Belt (CMB) Uranium Project in Labrador and to announce that drilling is now underway to test priority targets along the main Armstrong - Area 1 - C Zone corridor. Geological mapping and prospecting, in conjunction with trenching, is being conducted to define and prioritize drill targets along the main 4.5km long C Zone - Area 1 - Armstrong corridor. A 1.7km long uranium mineralized trend, south of the C Zone, has been discovered that links Area 1 and Area 2. A variety of geological settings occur along this newly discovered uranium mineralized trend. Mineralization in outcrop and abundant mineralized float occurs along strike for approximately 800m east-northeast from Area 1 to an area termed Poz Pond. Uranium mineralization occurs in brecciated, carbonitized and hematized mafic volcanic rocks similar to those at the C Zone.
Strongbow Resources, Inc.
