SARASOTA, Fla., Nov. 9, 2004 (PRIMEZONE) -- The following is an investment opinion issued by eLocity Inc.
Andresmin Gold (OTCBB:ADGD), VCampus Corporation (Nasdaq:VCMP), Horizon Offshore, Inc. (Nasdaq:HOFF), Owens Corning (OTCBB:OWENQ)
Investors will surely want to keep an eye on Andresmin Gold (OTCBB:ADGD). Andresmin announced after the closing bell Monday that it has completed the previously announced private placement for total gross proceeds of USD $1.7 million. The Company is further advancing the Company's Winicocha copper, gold, molybdenum porphyry, which lies within a rich mineralized belt in southern Peru.
Andresmin is committed to building shareholder value through the acquisition, exploration, and development of high quality mineral projects in the prime Central Andes region of South America, which annually produces 42% of the world's copper (over $18 billion each year). The Company has an impressive property portfolio with nine projects of merit encompassing 16,400 hectares of strategically located and highly prospective ground.
ADGD currently trades at around .81 a share.
Other Stocks showing interesting activity on Monday were:
Horizon Offshore, Inc. (Nasdaq:HOFF)
Marine construction service provider for the offshore oil and gas industry. Horizon Offshore, Inc., announced on Friday that it had completed financing, and entered into an agreement contemplating the recapitalization of the Company. On Monday, research firm Stifel Nicolaus downgraded the stock from Market Perform to Market Underperform
HOFF closed Monday at 0.37.
VCampus Corporation (Nasdaq:VCMP)
e-Learning publishing and hosting service provider VCampus Corp. announced Monday that it will be featuring two high-demand online certification review courses at the TechLearn 2004 Conference and Exposition at the Marriott Marquis in New York from November 14 - 17, 2004. VCampus Corp. said it will be offer both an Online Certified Information Systems Security Review course and an Online Project Management Certification Curriculum course.
VCMP closed Monday's regular trading session at $2.45, up 84 cents, or 52.17%, on 4.5 million shares, over 73 times its daily average volume.
Owens Corning (OTCBB:OWENQ)
Building materials and composite systems company, Owens Corning, stock soared on Monday to close 65 percent higher, or .695 cents, at $1.765. 8,359,866 shares were traded. On Friday the company reported financial results for the third quarter, posting net sales of $1.541 billion, an increase of 14 percent compared to net sales of $1.349 billion for the same period last year. Net income for the quarter rose 71 percent, to $94 million, compared to net income of $55 million for the third quarter of 2003.
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