CFS Bancorp Inc. (Nasdaq:CITZ) reported net income of $394,000, or $.04 per diluted share, for the third quarter of 2011, compared to net income of $863,000, or $.08 per diluted share, for the third quarter of 2010. The Company’s net income for the nine months ended September 30, 2011 was $2.1 million, or $.20 per diluted share, compared to $2.5 million, or $.24 per share for the nine months ended September 30, 2010.
CFS Bancorp, Inc. operates as the holding company for Citizens Financial Bank that provides various banking products and services to individuals and businesses in the United States.
Idenix Pharmaceuticals Inc. (Nasdaq:IDIX) announced that it will report its financial results for the third quarter of 2011 on Wednesday, November 2, 2011 after U.S. financial markets close.
Idenix Pharmaceuticals, Inc., a biopharmaceutical company, engages in the discovery and development of drugs for the treatment of human viral and other infectious diseases in the United States and Europe.
MAJESTIC GOLD CORP (MJGCF.PK)
The uses of gold are many and varied. Gold has a number of unique properties which make it ideal in industry and perhaps contributes to its value thereby. Gold is resistant to corrosion, has excellent electrical conductivity, is ductile (which means it can be drawn out to a thin wire) and malleable (able to be flattened out extremely thin), reflects infra red and has excellent thermal conductivity properties.
MAJESTIC GOLD CORP (MJGCF.PK) engages in the exploration and development of mineral properties in China. The company focuses on its gold project located in the prolific gold region of Song Jiagou in eastern Shandong Province. Majestic Gold Corp. is headquartered in Vancouver, Canada.
MAJESTIC GOLD CORP (MJGCF.PK) has arranged a $10,000,000 loan to advance its Song Jiagou project in China. Nine million dollars ($9,000,000) from the proceeds from the loan wi! ll be us ed by the Company to in connection with its Song Jiagou project and the balance of one million dollars ($1,000,000) for general working capital purposes.
The loan will have a one year term and loan principal will be convertible at the option of the lender in whole or in part into common shares (”Shares”) of the Company until twelve months from the date of the loan advance at the price of $0.205 per Share. The loan will bear interest at the rate of 7.5% per annum, payable on maturity, and accrued and unpaid interest will be convertible at the option of the lender in whole or in part into shares of the Company until twelve months from the date of the loan advance at Market Price at the time of conversion.
The lender is at arm’s length from the Company and will not become an insider as a result of any conversion of principal and interest. All shares issued on any conversion of loan principal or interest will be subject to a four month hold period from the date of advance of loan proceeds. The loan is subject to acceptance by the TSX Venture Exchange.
As additional consideration for the loan, the Company has agreed to forward at least $9 million to Majestic Yantai Gold Ltd., a British Virgin Islands company owned 94% by the Company to be used to further advance its Song Jiagou project. The Borrower has also agreed to a 90 day period for reciprocal due diligence reviews and discussions for the possible further involvement of the Lender in the Song Jiagou project.
In the event that no further agreement is reached between the Lender and the Company during the 90 day period, then the loan and a minimum of seven (7) months interest will automatically convert to shares in the Company at a price of $0.205 per share and the interest at Market Price respectively. In addition the Company is pleased to announce that it has arranged a non-brokered private placement of up to 15,000,000 shares to be issued at the price of $0.20 per share for gross proceeds of $3,000,000.
For! more in formation about MAJESTIC GOLD CORP. visit its website: http://www.majesticgold.net
Alliance Resource Partners LP (Nasdaq:ARLP) reported record financial results for the quarter ended September 30, 2011 (the “2011 Quarter”). Record coal sales volumes and pricing drove revenues in the 2011 Quarter to a record $487.7 million, an increase of 18.8% compared to the quarter ended September 30, 2010 (the “2010 Quarter”). ARLP also posted records in the 2011 Quarter for EBITDA, which increased 28.0% to $152.8 million; net income, which climbed 42.2% to $104.1 million; and net income per basic and diluted partner unit, which increased 45.9% to $2.16 per unit, each as compared to the 2010 Quarter.
Alliance Resource Partners, L.P. engages in the production and marketing of coal for utilities and industrial users in the United States. It operates nine underground mining complexes, which offer low, medium, and high-sulfur coal.
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