Wall Street News Alert: Market Watch: Qualibou Energy -- August 9, 2010
09 August 2010 - 3:38PM
Marketwired
Wall Street News Alert's "stocks to watch" this morning are:
Qualibou Energy, Inc. (PINKSHEETS: QALB), Freeport-McMoRan Copper
& Gold Inc. (NYSE: FCX), Exxon Mobil Corporation (NYSE: XOM)
and Trina Solar Limited (NYSE: TSL).
Yesterday after the markets closed, Qualibou Energy, Inc.
(PINKSHEETS: QALB) issued a press release announcing a project
financing initiative for phase one of its Geothermal Power Project
on St Lucia.
"Phase one of the project requires a total financing of USD $60
million of which seventy five percent is long term debt. We have
received a Letter of Interest from a major US bank on the debt
portion of the package, and due diligence is underway on the
remaining USD $15 million. Closing is expected during the third
quarter, and the drilling program will begin shortly after the
entire financing is complete," stated Stephen Baker, CEO of
Qualibou.
"The goal of the drilling program is to have 15 Megawatts of
energy at the wellhead," Mr. Baker added. "This is in line with our
requirements to meet projected deliveries of electricity to
LUCELEC, the power utility of St Lucia."
Qualibou Energy Inc. is an emerging renewable energy company
with a growth strategy emphasizing greenfield developments. The
company's first geothermal concession is located on St Lucia and
has a development goal of 120 Megawatts. The Company's proven and
probable reserves are 170 Megawatts or 60.1 million barrels of oil
equivalent (BOE).
The stock closed yesterday at Forty Two cents a share.
For an in-depth profile of Qualibou Energy,
visit http://wallstreetnewsalert.com/view-company-profiles.php?profile=QALB_080610.
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Freeport-McMoRan Copper & Gold Inc. (NYSE: FCX) up 0.7% on
11.7 million shares traded. FCX is a leading international mining
company with headquarters in Phoenix, Arizona.
Exxon Mobil Corporation (NYSE: XOM) down 1.1% on 23 million
shares traded. Exxon Mobil, the largest publicly traded
international oil and gas company, uses technology and innovation
to help meet the world's growing energy needs.
Trina Solar Limited (NYSE: TSL) up 4% on 3 million shares
traded. Trina Solar Limited is a well recognized manufacturer of
high quality modules and has a long history as a solar PV pioneer
since it was founded in 1997 as a system installation company.
Market Commentary: Earlier this week, the Commerce Department
reported that the personal savings rate climbed to 6.4 percent of
after-tax incomes in June. It was the highest reading in nearly a
year and three times the 2.1 percent average for all of 2007,
before the recession began.
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