InvestSource, Inc.: Wave Uranium Receives Data for Utah Location

Jul 24, 2008 (M2 PRESSWIRE via COMTEX) -- WAVU | Quote | Chart | News | PowerRating -- Stocks in the News: Wave Uranium (OTCBB: WAVU), Caterpillar Inc. (NYSE: CAT), Patriot Coal Corporation (NYSE: PCX), Alcoa (NYSE: AA)

Jul 22, 2008 -- Wave Uranium (OTCBB: WAVU | Quote | Chart | News | PowerRating) today announced it has acquired an extensive data set that covers its Grand County, Utah properties. The data consists of more than 500 gamma-ray logs of boreholes drilled by four different companies and the Federal Government in and immediately adjacent to Wave's Grand County property holdings. Also present are grade-thickness calculations for the boreholes, a surface radiometric map, and borehole location maps and data. After analysis and verification of the data, the results will be used to guide Wave's own exploration drilling.

Jul 23, 2008 -- Caterpillar Inc. (NYSE: CAT | Quote | Chart | News | PowerRating) has announced a groundbreaking alignment with BHP Billiton to develop an autonomous mining haulage system. The agreement couples the market leader in mining equipment with the world's largest diversified natural resources company. "Our joint autonomous technology project is a significant initiative that will bring benefits to both Caterpillar and BHP Billiton," said Caterpillar Group President, Stu Levenick. "This close collaboration will focus on Caterpillar building an autonomous haulage system that will tightly integrate with BHP Billiton mining processes." As part of the alignment, Cat and BHP Billiton are launching joint autonomous mining haulage development programs. The companies' development program includes enhancing the existing mining trucks by integrating them with robust autonomous sub-systems many of which are Caterpillar technologies already proven in the marketplace. The companies plan to have autonomous trucks at selected mine sites by 2010. Autonomous technology is designed to provide productivity gains through more consistency in processes. It is expected that autonomous mining will help minimize environmental impact by both improved efficiency and overall mine safety. The collaboration further illustrates both companies' commitment to sustainable development. "Caterpillar is dedicated to helping our mining customers improve safety, boost efficiency and increase profitability," said Chris Curfman, President of Cat Global Mining & Vice President of Caterpillar Inc. "This application of new technologies will have a positive impact on mining operations around the world."

Jul 23, 2008 -- Patriot Coal Corporation (NYSE: PCX | Quote | Chart | News | PowerRating) today announced the completion of its acquisition of Magnum Coal Company. Under the terms of the Agreement and Plan of Merger (the "Merger Agreement"), dated as of April 2, 2008, among Patriot, Magnum, Colt Merger Corporation, and ArcLight Energy Partners Fund I, L.P. and ArcLight Energy Partners Fund II, L.P., acting jointly as the Stockholder Representative, Magnum's stockholders received approximately 11.9 million shares of newly-issued Patriot Coal common stock. Additionally, Patriot assumed net debt of approximately $136.5 million, bringing the total acquisition price to approximately $695 million, based on the April 2, 2008 closing price of Patriot common stock. The company repaid the assumed net debt in full, using the proceeds from the previously-announced convertible debt offering. The Magnum transaction is aligned with Patriot's strategy to grow through synergistic, accretive acquisitions. The combination further broadens Patriot's asset base and significantly increases the company's surface mining capabilities. Additionally, Magnum's high-margin metallurgical coal production will raise the company's total met production to 7.0 to 8.0 million tons for 2008. "We are pleased to welcome Magnum and its 1,700 skilled employees to the Patriot family. This represents an excellent strategic fit for Patriot, bringing together two companies that share a significant business presence in the eastern United States, a similar operating culture and a strong commitment to mine safety. Importantly, the Patriot and Magnum properties are contiguous, which creates numerous synergistic opportunities," said Patriot Chief Executive Officer Richard M. Whiting. "Going forward, as the seventh largest coal producer in the U.S., we are poised to fully participate in very strong coal markets."

Jul 23, 2008 -- Alcoa (NYSE: AA | Quote | Chart | News | PowerRating) announced today a new feature for its alcoa.com Website: AlcoaTV, an all-video, YouTube-style microsite that aggregates and lists all streaming video content available on the 85,000-page site. AlcoaTV gives visitors a rich-media lens through which to view and search Alcoa's business, sustainability, history and community activities. It can be accessed at http://www.alcoa.com/tv. "We wanted to raise the profile of some of the site's best content," said Brad Fisher, Manager, Alcoa.com. "More and more of our important discoveries and innovations are being communicated through video, and this seemed like the best way to share it." Highlights of the site include links to Alcoa's historic 'Alcoa Can't Wait' TV and recycling advertising; a first-person account of the maiden flight of the Airbus A380 superjumbo passenger jet; video discussions of Alcoa products including Dura-Bright wheels and Reynobond with Kevlar composite building panels; and community and sustainability activities from around the world.

Market Wrap for July 23rd, 2008

Wednesday marked an active session for Wall Street, with 110 companies releasing their quarterly results, including four Dow components. In addition, the government announced its weekly energy statistics and the Fed released its Beige Book. The stock market settled with a modest gain of 0.4% in volatile and heavy trade. The advance was aided by a steep drop in crude prices and several better-than-expected earnings reports. The Nasdaq outperformed its counterparts thanks to strength in large-cap tech names.

Defensive investments, such as the utilities sector (-2.3%), underperformed, while beaten-down areas saw a surge in buying interest, as investors showed more willingness to take on risk. Consumer discretionary stocks rose 2.0%, with homebuilders climbing 4.0%. Automakers rose 3% after General Motors (GM 14.60, +0.28) forecast a 2.5% increase in global 2008 auto sales, as strong emerging market demand offsets weakness in North America. Meanwhile, retailers advanced (+2.4%) after crude prices took a tumble. Oil prices fell 3.1% to $124.48 per barrel, marking its lowest level in more than six weeks. Crude inventory levels fell by a larger-than-expected amount, but an increase in gasoline stockpiles raised concerns of demand destruction. The drop in oil prices weighed heavily on the energy sector (-3.8%), but provided a huge lift to airline stocks (+8.5%). Commodities as a whole fell 1.7%, with gold shedding 3.1% as the dollar rose 0.5%. As a result, the materials sector (-1.7%) underperformed. The financial sector was once again in focus after Washington Mutual (WM 4.65, -1.17) reported a larger-than-expected second quarter loss of $3.3 billion. The sector managed to gain as much as 4.6% on news that lawmakers reached a deal on a housing bill that, among other things, will allow for financial aid to Fannie Mae (FNM 15.00, +1.59) and Freddie Mac (FRE 10.80, +1.10) if need be. Financials slipped off their best levels, to settle the day with a gain of 1.9%, after WaMu reversed into the red on concerns that it will have to raise more capital. The financial sector is up 34% since July 15, but is still down 23% this year. The Fed's Beige Book, a collection of anecdotal economic information, prompted a brief drop in stocks, but the market quickly recovered from the knee-jerk reaction as much of the information was already known. The report stated that the economy has "slowed somewhat" since the previous report, and that there were increased price pressures. In addition, consumer spending was "mixed, weak or slowing" in nearly all districts.

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