Mining Stocks News -TOMBSTONE EXPLORATION CORP. (OTCBB:TMBXF) HIRES STEVE RADVAK AS VICE PRESIDENT-EXPLORATION
Phoenix, AZ -- January 12, 2010 – Tombstone Exploration Corp. (OTCBB:TMBXF) announced today that it has hired Steve Radvak, P.E. as Vice President of Exploration, Director. Mr. Radvak has extensive experience in managing mineral exploration projects in the United States, Canada, Africa and Europe. He has a B.A. Sc in Mining and Mineral Processing Engineering from the University of British Columbia.
Alan Brown, President and CEO of Tombstone, remarked, “We are extremely fortunate to retain the services of Steve. He has just the right experience that includes completing technical reports, permitting and construction of mining facilities which will maximize the development of our Arizona acreage.”
Tombstone Exploration Corporation (TMBXF) is focused primarily on exploration and development of mineral resources. Tombstone Exploration Corporation has the mineral rights to approximately 11,500 acres of historical mining land in the areas around Tombstone, Arizona and is now the largest landholder in the Tombstone Mining District.
For more information on Tombstone Exploration Corporation, please visit www.tombstonemining.com.
FORWARD-LOOKING STATEMENTS
Statements contained herein that are not historical facts may be forward-looking statements within the meaning of the Securities Act of 1933, as amended. Forward-looking statements include statements regarding the intent, belief or current expectations of the Company and its management. Such statements are estimates only, as the Company has not completed the preparation of its financial statements for those periods, nor has its auditor completed the audit of those results. Actual revenue may differ materially from those anticipated in this press release. Such statements reflect management's current views, are based on certain assumptions and involve risks and uncertainties. Actual results, events, or performance may differ materially from the above forward-looking statements due to a number of important factors, and will be dependent upon a variety of factors, including, but not limited to Tombstone Exploration Corporation's ability to obtain additional financing. Tombstone Exploration Corporation undertakes no obligation to publicly update these forward-looking statements to reflect events or circumstances that occur after the date hereof or to reflect any change in Tombstone Exploration Corporation's expectations with regard to these forward-looking statements or the occurrence of unanticipated events. Factors that may impact Tombstone Exploration Corporation's success are more fully disclosed in Tombstone Exploration Corporation most recent public filings with the U.S. Securities and Exchange Commission.
CONTACT:Tombstone Exploration Corporation
Alan M. BrownPresidentalanmbrown@cox.net
480-305-4507
Investor Relations:The Eversull Group, Inc.Jack Eversull972-378-7917 or 972-571-1624jack@theeversullgroup.com
________________________________________________
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Showing posts with label Mining Stocks News - Pele Mountain. Show all posts
Showing posts with label Mining Stocks News - Pele Mountain. Show all posts
Tuesday, January 19, 2010
Sunday, January 17, 2010
Mining Stocks News -Novus Gold Corp. (TSX-V: NOV)
Seven Kilometre Long Gold Zone Identified
January 15, 2010 – Vancouver, BC – Novus Gold Corp. (TSX-V: NOV) is pleased to announce surface sampling results from its REN gold property in the Northwest Territories carried out in partnership with Terra Ventures Inc. ("Terra") (TSX-V: TAS). This sampling program traced gold mineralization and iron formation over a length of 7 kilometres.
Just prior to freeze-up, a limited prospecting program was completed on the REN property. A total of 83 samples were collected and submitted for gold analysis. The samples were collected along the more than seven kilometre long iron formation within the REN property that includes the Main occurrence where a recent drill program was carried out. Most of the samples came from known occurrences other than the Main occurrence, however, five samples collected 400 metres northwest of the most northerly gold occurrence, Grizz, reported values between 1.51 and 6.25 g/t and represent a new gold discovery. Grab samples (7) of the Grizz occurrence ranged from 3.10 to 38.40 g/t gold and grab samples (3) collected 300 m south of the Grizz occurrence ranged from 0.02 to 2.13 g/t gold. Two more grab samples were collected a further 500 m south, ranged from 0.53 to 5.27 g/t gold, and were located approximately 300 m north of the geophysical anomaly coincident with the Main occurrence.
The Banner, Flag and Gord occurrences are located along the southern half of the iron formation, more than 3 kilometres south of the Main occurrence. Grab samples (17) collected from the Banner occurrence ranged from 0.07 to 205.00 g/t gold and grab samples (12) collected from the Flag occurrence ranged from 0.02 to 22.40 g/t gold. No samples were collected from the most southerly located Gord occurrence (approximately 5 kilometres south of the Main occurrence), however, previously completed sampling reported a chip sample value of 17.5 g/t across 0.8 metres. The Moore occurrence is situated approximately 1 kilometre south of the Main occurrence. Grab samples (9) collected from the Moore occurrence varied from 0.06 to 2.88 g/t gold. The remaining 33 samples collected ranged from 0.01 to 2.66 g/t gold.
Ongoing reinterpretation of the associations and controls related to the gold occurrences of the REN property has discovered the potential for a high-tonnage low-grade deposit along a more than seven kilometre strike of iron formation. Previous exploration had focused on Lupin-style gold mineralization where gold occurs concentrated in the "nose" of a folded iron formation. Recent drill results acquired from the Main occurrence indicate that significant gold is present in the host rocks adjacent to the iron formation. As a result, the main zone of gold mineralization is now considered to have an apparent width of 8 to 30 metres with gold grades ranging from 2 to 3 g/t. Grab samples collected while prospecting demonstrate that at least portions of the entire seven kilometre long iron formation is associated with significant gold mineralization. As with the exploration completed at the Main occurrence, much of the work evaluating the gold potential of the iron formation focused strictly on high-grade gold in the iron formation, including the recently reported grab samples reported above. The host rock along the seven kilometre long iron formation has not been adequately sampled so as to assess the potential for wide, low-grade gold zones.
Drill hole results from the Main occurrence within the REN property clearly indicate a previously unrecognized wide, low-grade gold zone associated with the iron formation. Gold assay values ranging between 2 to 3 g/t were reported for intersections that ranged from 10.62 to 32.77 metre. Based on previously completed geophysical work, the magnetic and electromagnetic anomaly directly associated with the wide, low-grade gold mineralization, is more than 700 metres long. Drilling has shown the zone to be open at depth.
The REN property hosts banded iron formation gold showings in the Point Lake area, approximately 90 kilometres southwest of the formerly producing Lupin gold mine owned by Echo Bay Mines. Approximately 30 drill holes were completed on gold showings on the REN property between 1974 and 1990 by Texasgulf, Cominco and Westview.
All samples were submitted to ALS Laboratory, North Vancouver, an ISO 17025-accredited laboratory that includes the determination of gold by fire assay and atomic absorption as part of its scope of accreditation. Blanks were added to the submitted samples to test for cross contamination and all samples submitted were reported within acceptable levels.
Novus has granted Terra an option to earn a 51-per-cent interest in the REN property. In order to exercise the option, Terra needed to incur $1.5-million in expenditures on the REN property by Dec. 31, 2009. Terra is in the process of giving Novus confirmation that this has been done. Once Terra formally exercises its option, Novus will have the option to repurchase Terra's 51-per-cent interest by issuing 7.5 million shares to Terra. Based on Novus's current 33,585,000 issued shares, if Novus exercises its option, Terra would have 18.25 per cent of Novus's shares.
Maps are available for viewing on the company website at www.novusgold.com.
Mike Magrum, PEng, a qualified person under National Instrument 43-101, has approved the technical content of this news release.
For further information visit the company's website at www.novusgold.com or contact Ryan Johnson, Investor Relations, at 1-604-688-0335.
On behalf of the board of directors of
NOVUS GOLD CORP.
"Mike Magrum"
Mike Magrum, President
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.
This News Release contains forward-looking statements. Forward-looking statements are statements which relate to future events. In some cases, you can identify forward-looking statements by terminology such as "may", "should", "expects", "plans", "anticipates", "believes", "estimates", "predicts", "potential" or "continue" or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our or our industry's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements.
While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our business, actual results will almost always vary, sometimes materially, from any estimates, predictions,_____________________________________________
Resource investors can research gold and mining stocks with the mining stocks directory, featuring Gold Stocks, Silver Stocks, Uranium Stocks, Copper Stocks, Zinc Stocks and Precious Metals TSX, TSX Venture, OTC, NASDAQ, AMEX, NYSE, ASX, AIM and other leading Stock Exchanges.
Investors following mining stocks can purchase the mining stocks directory in a PDF format with hyperlinks to stocks symbol(s), company’s url and company’s description. The mining stocks directory page features a Paypal link and buy now button for easy online purchase.
Investors also have the option to access the directory as part of the Investor Ideas Membership premium content. The full directory is now available to Investor Ideas members as part of the annual membership that currently features an additional 9 stock directories and investor newsletter.
January 15, 2010 – Vancouver, BC – Novus Gold Corp. (TSX-V: NOV) is pleased to announce surface sampling results from its REN gold property in the Northwest Territories carried out in partnership with Terra Ventures Inc. ("Terra") (TSX-V: TAS). This sampling program traced gold mineralization and iron formation over a length of 7 kilometres.
Just prior to freeze-up, a limited prospecting program was completed on the REN property. A total of 83 samples were collected and submitted for gold analysis. The samples were collected along the more than seven kilometre long iron formation within the REN property that includes the Main occurrence where a recent drill program was carried out. Most of the samples came from known occurrences other than the Main occurrence, however, five samples collected 400 metres northwest of the most northerly gold occurrence, Grizz, reported values between 1.51 and 6.25 g/t and represent a new gold discovery. Grab samples (7) of the Grizz occurrence ranged from 3.10 to 38.40 g/t gold and grab samples (3) collected 300 m south of the Grizz occurrence ranged from 0.02 to 2.13 g/t gold. Two more grab samples were collected a further 500 m south, ranged from 0.53 to 5.27 g/t gold, and were located approximately 300 m north of the geophysical anomaly coincident with the Main occurrence.
The Banner, Flag and Gord occurrences are located along the southern half of the iron formation, more than 3 kilometres south of the Main occurrence. Grab samples (17) collected from the Banner occurrence ranged from 0.07 to 205.00 g/t gold and grab samples (12) collected from the Flag occurrence ranged from 0.02 to 22.40 g/t gold. No samples were collected from the most southerly located Gord occurrence (approximately 5 kilometres south of the Main occurrence), however, previously completed sampling reported a chip sample value of 17.5 g/t across 0.8 metres. The Moore occurrence is situated approximately 1 kilometre south of the Main occurrence. Grab samples (9) collected from the Moore occurrence varied from 0.06 to 2.88 g/t gold. The remaining 33 samples collected ranged from 0.01 to 2.66 g/t gold.
Ongoing reinterpretation of the associations and controls related to the gold occurrences of the REN property has discovered the potential for a high-tonnage low-grade deposit along a more than seven kilometre strike of iron formation. Previous exploration had focused on Lupin-style gold mineralization where gold occurs concentrated in the "nose" of a folded iron formation. Recent drill results acquired from the Main occurrence indicate that significant gold is present in the host rocks adjacent to the iron formation. As a result, the main zone of gold mineralization is now considered to have an apparent width of 8 to 30 metres with gold grades ranging from 2 to 3 g/t. Grab samples collected while prospecting demonstrate that at least portions of the entire seven kilometre long iron formation is associated with significant gold mineralization. As with the exploration completed at the Main occurrence, much of the work evaluating the gold potential of the iron formation focused strictly on high-grade gold in the iron formation, including the recently reported grab samples reported above. The host rock along the seven kilometre long iron formation has not been adequately sampled so as to assess the potential for wide, low-grade gold zones.
Drill hole results from the Main occurrence within the REN property clearly indicate a previously unrecognized wide, low-grade gold zone associated with the iron formation. Gold assay values ranging between 2 to 3 g/t were reported for intersections that ranged from 10.62 to 32.77 metre. Based on previously completed geophysical work, the magnetic and electromagnetic anomaly directly associated with the wide, low-grade gold mineralization, is more than 700 metres long. Drilling has shown the zone to be open at depth.
The REN property hosts banded iron formation gold showings in the Point Lake area, approximately 90 kilometres southwest of the formerly producing Lupin gold mine owned by Echo Bay Mines. Approximately 30 drill holes were completed on gold showings on the REN property between 1974 and 1990 by Texasgulf, Cominco and Westview.
All samples were submitted to ALS Laboratory, North Vancouver, an ISO 17025-accredited laboratory that includes the determination of gold by fire assay and atomic absorption as part of its scope of accreditation. Blanks were added to the submitted samples to test for cross contamination and all samples submitted were reported within acceptable levels.
Novus has granted Terra an option to earn a 51-per-cent interest in the REN property. In order to exercise the option, Terra needed to incur $1.5-million in expenditures on the REN property by Dec. 31, 2009. Terra is in the process of giving Novus confirmation that this has been done. Once Terra formally exercises its option, Novus will have the option to repurchase Terra's 51-per-cent interest by issuing 7.5 million shares to Terra. Based on Novus's current 33,585,000 issued shares, if Novus exercises its option, Terra would have 18.25 per cent of Novus's shares.
Maps are available for viewing on the company website at www.novusgold.com.
Mike Magrum, PEng, a qualified person under National Instrument 43-101, has approved the technical content of this news release.
For further information visit the company's website at www.novusgold.com or contact Ryan Johnson, Investor Relations, at 1-604-688-0335.
On behalf of the board of directors of
NOVUS GOLD CORP.
"Mike Magrum"
Mike Magrum, President
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.
This News Release contains forward-looking statements. Forward-looking statements are statements which relate to future events. In some cases, you can identify forward-looking statements by terminology such as "may", "should", "expects", "plans", "anticipates", "believes", "estimates", "predicts", "potential" or "continue" or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our or our industry's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements.
While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our business, actual results will almost always vary, sometimes materially, from any estimates, predictions,_____________________________________________
Resource investors can research gold and mining stocks with the mining stocks directory, featuring Gold Stocks, Silver Stocks, Uranium Stocks, Copper Stocks, Zinc Stocks and Precious Metals TSX, TSX Venture, OTC, NASDAQ, AMEX, NYSE, ASX, AIM and other leading Stock Exchanges.
Investors following mining stocks can purchase the mining stocks directory in a PDF format with hyperlinks to stocks symbol(s), company’s url and company’s description. The mining stocks directory page features a Paypal link and buy now button for easy online purchase.
Investors also have the option to access the directory as part of the Investor Ideas Membership premium content. The full directory is now available to Investor Ideas members as part of the annual membership that currently features an additional 9 stock directories and investor newsletter.
Wednesday, November 04, 2009
Mining Stocks News - Pele Mountain Confirms Significant Concentrations of All Rare Earth Oxides at Eco Ridge Mine Project in Elliot Lake
Mining Stocks News - Pele Mountain Confirms Significant Concentrations of All Rare Earth Oxides at Eco Ridge Mine Project in Elliot Lake
TORONTO, ONTARIO-- Nov. 4, 2009 - Pele Mountain Resources Inc. (TSX VENTURE:GEM) ("Pele" or the "Company") today announced the confirmation of significant concentrations of all rare earth oxides ("REO") in each of the 30 drill holes analyzed for REO to-date at its Eco Ridge Mine uranium project in Northern Ontario. As announced on October 7, the analysis of certain drill intersections at Eco Ridge has confirmed the presence of extensive REO in conjunction with uranium oxide (U3O8) in the Main Conglomerate Bed ("MCB"). The Eco Ridge Mine project is 100-percent owned by First Canadian Uranium Inc., a wholly owned subsidiary of Pele.
A total of 29 of the 30 analyzed holes were drilled over an area 2 kilometres across strike and 1 kilometre down dip within the area of the defined NI 43-101 uranium resources. The outlying hole was located north of the classified resources and intersected the down-dip continuation of both uranium and REO mineralization beyond the resource area. A table containing individual REO analyses for each of the 30 analyzed drill holes is available at http://www.pelemountain.com/pdfs/allREE_tableSW.pdf
Although Yttrium and heavy REE comprise a minority of the overall REO content of the Eco Ridge deposit, these minerals have far greater economic value than the light REO and have demonstrated good recoverability. Preliminary leach testing at SGS Canada Inc. indicates potential recoveries of approximately 64-percent of combined Yttrium and heavy REE.
REOs are critical components in many high-tech applications including hybrid motor vehicles, flat screen monitors, high-power magnets and a wide range of military applications. Although demand for REO is growing rapidly, over 90-percent of global production is controlled by China, which has recently imposed restrictions on their export.
With its excellent regional infrastructure, well-understood geology, and politically-stable and mining-friendly jurisdiction, Elliot Lake is an ideal location for the development of a long-term secure and reliable supply of uranium and REE. Pele's 100-percent owned Eco Ridge Mine project contains a NI 43-101 compliant resource of 6.4 million pounds of "indicated" U3O8 (5.68 million tonnes grading 0.051-percent U3O8) and 36.1 million pounds of "inferred" U3O8 (37.26 tonnes grading 0.044-percent U3O8) with the potential for significant expansion. More than 300 million pounds of U3O8 were mined from similar deposits near Elliot Lake by Rio Algom and Denison Mines from 1956 to 1996. Elliot Lake was a global producer of Yttrium during the 1980s as a by-product of uranium production.
The samples were analyzed at SGS Canada Inc. and Activation Laboratories Ltd., both independent and ISO 17025 accredited laboratories. The Company is performing routine QA and QC on laboratory assay results. The calculations of REO grades shown in the table were independently reviewed by Scott Wilson Roscoe Postle Associates Inc. This press release has been reviewed and approved by Fergus Kerr, P.Eng., Vice President of Uranium Operations for Pele and a qualified person under NI 43-101.
About Pele
Pele Mountain Resources is discovering and developing the mineral wealth of Northern Ontario. At its Eco Ridge Mine uranium project, Pele is advancing toward the sustainable development of a safe, secure, and reliable operation near Elliot Lake. At its East Highland Gold project, Pele has located several high-grade showings and is working to identify mineable gold resources. The Company also holds the Ardeen Gold and Sudbury Nickel projects, which are actively explored under option agreements with Coventry Resources Ltd. and Wallbridge Mining Company, respectively. Pele's shares are listed on the TSX Venture Exchange under the symbol "GEM".
Some of the statements contained in this release are forward-looking statements, such as estimates and statements that describe Pele's future plans, objectives or goals, including words to the effect that Pele or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements. The economic viability of the 43-101 mineral resource at Pele's Elliot Lake Project has not yet been demonstrated by a preliminary feasibility study.
Common Shares Outstanding: 95,486,944
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Mining and metals investors can research gold and mining stocks with the mining stocks directory, featuring Gold Stocks, Silver Stocks, Uranium Stocks, Copper Stocks, Zinc Stocks and Precious Metals TSX, TSX Venture, OTC, NASDAQ, AMEX, NYSE, ASX, AIM and other leading Stock Exchanges.
TORONTO, ONTARIO-- Nov. 4, 2009 - Pele Mountain Resources Inc. (TSX VENTURE:GEM) ("Pele" or the "Company") today announced the confirmation of significant concentrations of all rare earth oxides ("REO") in each of the 30 drill holes analyzed for REO to-date at its Eco Ridge Mine uranium project in Northern Ontario. As announced on October 7, the analysis of certain drill intersections at Eco Ridge has confirmed the presence of extensive REO in conjunction with uranium oxide (U3O8) in the Main Conglomerate Bed ("MCB"). The Eco Ridge Mine project is 100-percent owned by First Canadian Uranium Inc., a wholly owned subsidiary of Pele.
A total of 29 of the 30 analyzed holes were drilled over an area 2 kilometres across strike and 1 kilometre down dip within the area of the defined NI 43-101 uranium resources. The outlying hole was located north of the classified resources and intersected the down-dip continuation of both uranium and REO mineralization beyond the resource area. A table containing individual REO analyses for each of the 30 analyzed drill holes is available at http://www.pelemountain.com/pdfs/allREE_tableSW.pdf
Although Yttrium and heavy REE comprise a minority of the overall REO content of the Eco Ridge deposit, these minerals have far greater economic value than the light REO and have demonstrated good recoverability. Preliminary leach testing at SGS Canada Inc. indicates potential recoveries of approximately 64-percent of combined Yttrium and heavy REE.
REOs are critical components in many high-tech applications including hybrid motor vehicles, flat screen monitors, high-power magnets and a wide range of military applications. Although demand for REO is growing rapidly, over 90-percent of global production is controlled by China, which has recently imposed restrictions on their export.
With its excellent regional infrastructure, well-understood geology, and politically-stable and mining-friendly jurisdiction, Elliot Lake is an ideal location for the development of a long-term secure and reliable supply of uranium and REE. Pele's 100-percent owned Eco Ridge Mine project contains a NI 43-101 compliant resource of 6.4 million pounds of "indicated" U3O8 (5.68 million tonnes grading 0.051-percent U3O8) and 36.1 million pounds of "inferred" U3O8 (37.26 tonnes grading 0.044-percent U3O8) with the potential for significant expansion. More than 300 million pounds of U3O8 were mined from similar deposits near Elliot Lake by Rio Algom and Denison Mines from 1956 to 1996. Elliot Lake was a global producer of Yttrium during the 1980s as a by-product of uranium production.
The samples were analyzed at SGS Canada Inc. and Activation Laboratories Ltd., both independent and ISO 17025 accredited laboratories. The Company is performing routine QA and QC on laboratory assay results. The calculations of REO grades shown in the table were independently reviewed by Scott Wilson Roscoe Postle Associates Inc. This press release has been reviewed and approved by Fergus Kerr, P.Eng., Vice President of Uranium Operations for Pele and a qualified person under NI 43-101.
About Pele
Pele Mountain Resources is discovering and developing the mineral wealth of Northern Ontario. At its Eco Ridge Mine uranium project, Pele is advancing toward the sustainable development of a safe, secure, and reliable operation near Elliot Lake. At its East Highland Gold project, Pele has located several high-grade showings and is working to identify mineable gold resources. The Company also holds the Ardeen Gold and Sudbury Nickel projects, which are actively explored under option agreements with Coventry Resources Ltd. and Wallbridge Mining Company, respectively. Pele's shares are listed on the TSX Venture Exchange under the symbol "GEM".
Some of the statements contained in this release are forward-looking statements, such as estimates and statements that describe Pele's future plans, objectives or goals, including words to the effect that Pele or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements. The economic viability of the 43-101 mineral resource at Pele's Elliot Lake Project has not yet been demonstrated by a preliminary feasibility study.
Common Shares Outstanding: 95,486,944
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Mining and metals investors can research gold and mining stocks with the mining stocks directory, featuring Gold Stocks, Silver Stocks, Uranium Stocks, Copper Stocks, Zinc Stocks and Precious Metals TSX, TSX Venture, OTC, NASDAQ, AMEX, NYSE, ASX, AIM and other leading Stock Exchanges.
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