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Real Estate News Releases
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(EMAILWIRE.COM, August 07, 2008 )
VIPR Industries is acquiring and exploring high quality mineral properties, focusing on TanzaniaÂ’s rich but largely untapped gold and uranium resources. The companyÂ’s Singida Gold Property is located next to and along strike from Shanta Gold LimitedÂ’s newly discovered 543,000+ ounce resource. According to VIPR Industries its project area displays similar characteristics to Shanta GoldÂ’s Gold Tree and The Jem deposits. And based on radiometric survey data the companyÂ’s Itigi/Manyoni Uranium Property is highly prospective for the cost effective production of uranium.
VIPR Industries is ideally positioned in the resource sector where demand and prices for both gold and uranium are rising, along with profits for producers. Gold, which offers investors a safe haven and store of value in uncertain financial times, has gained 47% in the past year. The gold market is achieving record growth, boosted by a 76% spike in oil prices, stocks at 21-month lows, increasing weakness in the dollar, ongoing credit market crises, inflationÂ’s climb above 10%, rising gold demand, and a drop in global gold production to its lowest level since 1937.
The market for uranium, the fuel source for nuclear power plants, is growing dramatically. Global energy demand is forecast to rise 50% by 2030, with the non-OECD countries increasing consumption by a staggering 85%, according to the U.S. Department of Energy. Nations worldwide are increasingly embracing clean, emissions-free nuclear power in order to secure reliable large-scale energy supply and combat climate change. Today 439 nuclear reactors in 31 countries generate more than 16% of the worldÂ’s electricity supply. Worldwide 35 new plants are under construction, 91 are planned, 228 are proposed, and many existing plants are significantly expanding capacity, according to the World Nuclear Association. The International Atomic Energy Agency estimates nuclear power will expand from 372 GWe today to 509-663 GWe by 2030. Such growth would cause uranium demand to increase from 66,500 tonnes per year to between 94,000 and 122,000 tonnes.
Key Investment Highlights
VIPR Industries has gained a significant foothold in TanzaniaÂ’s rapidly expanding mineral industry with the acquisition of a high quality gold prospect and a premier uranium property.
VIPR IndustriesÂ’ Singida Gold Property is adjacent to Shanta Gold LimitedÂ’s newly discovered deposit where drilling indicates a resource of more than 543,000 ounces of gold.
Given the regional geology VIPR Industries believes similar gold mineralization is likely to occur on its Singida Gold Property.
Small-scale artisan miners are working throughout the Singida district, indicating ore grade gold mineralization on the surface.
On the companyÂ’s Itigi/Manyoni Uranium Property radiometric surveys have identified anomalies in 14 zones within the license area featuring high uranium counts.
VIPR Industries expects to begin exploration and development of its mining claims within the third quarter of 2008.
Mining companies are discovering almost two million ounces of gold annually in Tanzania, which has become the 3rd largest gold producer in Africa. (World Gold Council, July 10, 2008)
Tanzania offers the exploration industry a favorable investment climate and low-risk operating environment with significant potential for new discoveries. The Tanzania Geological Survey reports many commodities are still highly under-explored.
Mining production and revenues are ramping up as mining companies target Tanzania’s unexploited resources. Mineral exports are estimated at nearly $900 million per year. (The Citizen, “Mining firms”, May 16, 2008)
VIPR Industries has retained independent accounting and audit firm Chisholm, Bierwolf and Nilson to complete an audit for 2006 and 2007. The audit lays the groundwork for a near-term listing on a higher exchange.
Effective May 16, 2008 VIPR Industries completed a forward stock split which the company reports was executed in anticipation of future initiatives, including a filing for a listing on the National Association of Securities Dealers Over-the-Counter Bulletin Board (OTC: BB).
The International Atomic Energy Agency (IAEA) projects an increase in uranium demand from 66,500 tonnes per year to between 94,000 and 122,000 tonnes by 2030 as nuclear power generation expands worldwide.
The price of uranium is holding steady at $64 per pound as of July 22, 2008. Uranium generated an 1108% increase in 7 years, from $7.45 per pound in September 2000 to $90 in September 2007, and subsequently hit an all-time high of $138.
The gold sector is reaching 26-year highs. Gold prices are up 50% since August of last year as investors seek a safe haven from rising inflation and stock market volatility. The price of gold is hovering near $1000 per ounce, at $945 as of July 22, 2008.
VIPR Industries Inc. is a growing mining company working to develop two highly prospective gold and uranium properties in stable, mining-friendly and mineral-rich Tanzania. VIPR IndustriesÂ’ wholly owned Singida Gold Property is located in TanzaniaÂ’s Singida Gold Belt adjacent to Shanta Gold LimitedÂ’s newly discovered gold deposit. Drilling results from Shanta GoldÂ’s property indicate a resource of more than 543,000 ounces. VIPR Industries reports its Singida Gold Property is located along strike from the Shanta Gold discovery area and displays characteristics similar to ShantaÂ’s newly found Gold Tree and The Jem deposits.
VIPR Industries has also acquired the high quality Itigi/Manyoni Uranium Property. Radiometric surveys have identified anomalies indicating fourteen zones highly prospective for uranium on the companyÂ’s claims.
For an in-depth coverage on VIPR Industries Inc., please visit: http://www.WallStreetStockReview.com
Other Stock To Watch In The News: Patriot Scientific Corp. (OTCBB: PTSC) closed yesterday at (0.29) down 2.84%, RedChip Companies, Inc. (NASDAQ: QTWW) closed yesterday at (1.66) down 2.35%, Canadian Superior Energy Inc. (AMEX: SNG) closed yesterday at (3.97) up 1.28%, Yamana Gold Inc. (NYSE: AUY) closed yesterday at (11.05) up 3.08%
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