AFPW Annotated Chart, RVBF Positive News- Great Close!
AFPW closed slightly down but not to worry, our support held nicely throughout the day. The 20 day simple move average wasn’t even touched like it was yesterday, which we believe to be a bullish sign despite the red close. As long as our support continues to holds we are expecting a consolidation period between 0.06 – 0.07 before the next leg up.
We alerted RVBF a few weeks ago at 0.083, today RVBF closed at 0.149 on some positive news.
AFPW Annotated Chart:
Raven Biofuels International Announces Corporate Outlook and Milestones for Q1-2010
ATLANTA, GA–(Marketwire – 01/06/10) – Raven Biofuels International Corporation (Pinksheets:RVBF – News) (“Raven” or the “Company”) is pleased to announce the company’s objectives for Q1-2010.
Raven has two key projects in development today. Both projects are commercial scale (11 MGY output) designed to be scalable for future expansion. The first proposed project is in conjunction with Raven Biofuels Ltd (RBL) in BC, Canada. The proposed biorefinery location is in Kamloops, BC through a Joint Venture (JV) with the Kamloops Indian Band (KIB) called the Tk’emlups Biorefinery Project.
Goals for this project in Q1 are:
� -- Complete preliminary engineering study -- Conclude feedstock study -- Hire key personnel -- Finalize site agreements -- Initiate permitting -- Initial feedstock testing -- Initial feedstock supply agreements -- Sign initial off-take agreements for biorefinery products -- Secure additional public and private funding sources
The second proposed project is in Mississippi. Goals for the project in Q1 are:
-- Conduct feedstock study -- Initial feedstock testing -- Initial feedstock supply agreements -- Finalise site agreement -- Identify additional public and private funding sources
Management believes that there are efficiencies in pursuing both projects simultaneously via shared information that can significantly reduce engineering and testing costs. Further benefits may be realized on purchasing of key components.
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