InvestSource, Inc.: FIMA Plans to Develop Luxury Home Sites with Two New Parcels Acquired in Veracruz

Aug 05, 2008 (M2 PRESSWIRE via COMTEX) -- MMPI | Quote | Chart | News | PowerRating -- Stocks in the news: FIMA, Inc. (Other OTC:FIMA.PK), Global Gold Corporation (OTC BB:GBGD.OB), ArcelorMittal (NYSE: MT), Meruelo Maddux Properties, Inc. (Nasdaq: MMPI),

August 1, 2008 - FIMA, Inc. (Other OTC:FIMA.PK) announced today that through its subsidiary, Garcia & Garcia Construction and Design, the Company has agreed to terms for the acquisition of two parcels in the highly sought-after section of Las Palmas in Veracruz, Mexico. Garcia & Garcia have already begun the process of creating plans and architectural renderings for the project, and construction should be able to begin shortly. Zoning and density are not an issue, and the infrastructure including electrical, water, and sewer are in place, substantially reducing the anticipated costs of construction.

According to a FIMA company spokesperson, "The Las Palmas section of Veracruz is an extremely desirable location, and we are very pleased to have this opportunity. Veracruz is the number one port in all of Mexico, and one of the country's fastest growing metropolitan areas. Based partly on the desirability of the location, along with the growing reputation of Garcia & Garcia in the region as a result of their growing portfolio of projects, we expect to be able to pre-sell the units within an extremely short time. As a result, our capital expenditure will be minimal. Also, lending policies in Mexico and Latin American have traditionally been much more restrictive, so unlike the real estate market in the U.S., that in Mexico has been largely unaffected by the subprime fallout. Consequently, we are able to participate in a robust and growing sector that we feel continues to present excellent expansion opportunities. We believe that this latest project will add to our growing portfolio."

August 4, 2008 - Global Gold Corporation (OTC BB:GBGD.OB) (www.globalgoldcorp.com) announced today that it has entered into an agreement to sell all of the Company's interest in its mining claims and properties in Chile (the "Chilean Interests") in exchange for five million dollars ("Purchase Price") to Madre Gold, LLC a private Delaware Limited Liability Company ("MG"). The agreement is effective as of July 31, 2008. The Company will also receive a production royalty of 2.5%, and will be the operator and developer of the property, providing office space, and services of the Company's employees and technical assistance for development, production and exploration of the Chilean Interests through August 31, 2009. The sale of the Chilean Interests is subject to final due diligence to be completed before the September 15, 2008 closing date.

The Chilean Interests include one hundred percent of the membership interest in Global Oro LLC and Global Plata LLC, each Delaware limited liability companies which in turn own a hundred percent of Minera Global Chile Limitada, a Chilean company which owns fifty-one percent of Global Gold Valdivia (the "Joint Venture"), a Chilean joint venture company that owns operations in the Valdivia region and Chiloe and Ipun Islands, together with a royalty and related rights in Santa Candelaria.

August 4, 2008 -- ArcelorMittal (NYSE: MT | Quote | Chart | News | PowerRating) is pleased to announce today it plans to construct a new steel mill in Mexico. It will produce carbon steel and bars including rebar, merchant bar quality and special bar quality products that will principally serve the construction and automotive sectors.

The facility will be based on electrical steel making equipment with capacity of one million of metric tons of billets per year and a new bar rolling mill with a capacity of 500,000 metric tons. This additional production will be directed to the domestic market, mainly to produce high added value steel products but also to support the Government of Mexico's National Infrastructure Plan and Housing Program.

The new facility will incorporate state of the art technology and steel processing to ensure it is both energy-efficient and environmentally responsible. It will also benefit from best practices that have been developed across the group's operations.

August 4, 2008 -- Meruelo Maddux Properties, Inc. (Nasdaq: MMPI), a self-managed, full-service real estate company that develops, redevelops and owns commercial and residential properties, today announced the entering into of a $84.0 million construction loan on its 35-story, high-rise multi-family project located at 717 W. Ninth St. The initial construction draw on this loan occurred on August 1, 2008.

The loan proceeds will be used primarily to (a) fund the remaining development needs on the Company's 717 W. Ninth St. project, (b) fund an interest payment reserve and (c) fund a real estate tax and insurance reserve. No additional borrowings are projected to be needed to complete the 717 W. Ninth St. project.

This financing is being provided by an affiliate of Canyon Capital Realty Advisors LLC. Canyon Capital Realty Advisors LLC and its affiliate Canyon Capital Advisors LLC are registered investment advisors and money management firms located in Los Angeles, California with approximately $20 billion of assets under management.

The Company's 717 W. Ninth St. will feature 214 luxury apartment homes in downtown Los Angeles near the Staples Center and LA Live projects. The apartment homes will be located high above the street and the private gated above-ground parking and will feature dramatic views of downtown, the west side of Los Angeles and the Pacific Ocean.

Market Wrap for August 4, 2008 -

The stock market posted a steep decline on Monday.

Crude prices plunged 3.0% to $121.30 per barrel and commodities as a whole tumbled 3.4%.

The energy sector (4.9%) fell on the retreat in crude prices. Likewise, material stocks slipped 4.2%.

Lately, the stock market as a whole has rallied when the price of crude oil declined. This session, however -- the transportation sector (-0.8%) was not even able to muster a gain.

Only three sectors posted a gain -- consumer discretionary (+0.5%), consumer staples (+1.2%) and health care (+1.3%).

The drop in crude prices helped the financial sector recover from its session low when it was down 2.9%, although the sector still underperformed with a loss of 1.3%.

London-based bank HSBC (HBC 81.49, -1.51) saw first-half 2008 profits fall 29%, largely due to losses related to the U.S. mortgage market.

In terms of economic news, the June personal income and spending report was mixed, with investors showing disappointment regarding the report's inflation component. Month-over-month, personal income rose 0.1% (-0.2% consensus), personal spending increased 0.6% (+0.4% consensus) and core PCE, the Fed's preferred inflation measure, rose 0.3% (+0.2% consensus).

Total PCE is up 0.8% month-over-month. As a result, real spending and income actually fell in June.

Tuesday brings the widely anticipated FOMC announcement. The fed funds rate is expected to remain unchanged at 2.00%, so the wording of the Fed's directive will be the main trading catalyst.DJ30 -42.17 NASDAQ -25.40 NQ100 -1.2% R2K -1.7% SP400 -1.9% SP500 -11.30 NASDAQ Adv/Vol/Dec 928/1.99 bln/1878 NYSE Adv/Vol/Dec 1049/1.23 bln/2065

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InvestSource, Inc. is not a licensed broker, broker dealer, market maker, investment banker, investment advisor, analyst or underwriter. InvestSource, Inc. affiliates, officers, directors and employees may also have bought, or may buy the shares discussed in this opinion and may profit in the event of a rise in value. InvestSource, Inc. will not advise as to when it decides to sell and does not, and will not, offer any opinion as to when others should buy or sell; each investor must make that decision based on his or her judgment of the market InvestSource has received 5 million shares of Greenstone Holdings for services rendered. Please consult your broker before purchasing or selling any securities mentioned herein. To view full disclaimers, please go to http://investsourceinc.com/php/disclaimer.php (disclaimers).

This release may contain statements that constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended. The words "may," "would," "will," "expect," "estimate," "anticipate," "believe," "intend," and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company's ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. The information contained in an InvestSource profile is provided as an information service only. The accuracy or completeness of the information is not warranted and is only as reliable as the sources from which it was obtained. InvestSource is a majority shareholder of FIMA, Inc.

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