Will Be Conducting A Live Benefit Auction

Sept. 21, 2011 - PRLog -- Global Resource Energy Inc. announced today that it has entered into a letter of intent with SMED Energy Inc of Calgary, Alberta, subject to due diligence, and later agreement between GBEN and SMED pursuant to which GBEN shall acquire approximately 5MW worth of power from the Buffalo Hills project (estimated purchase price of $14,250,000 + tax) to be paid in cash or common stock of the company. Antimony Ore Grinding Mill

Last February Ritchie Bros. conducted its first six-day auction in Company history at its Orlando site, selling more than 8,300 items over six days, generating US$184 million in gross auction proceeds and attracting 7,600 unique bidders from 75 countries. The annual auction is definitely the place to sell and buy the equipment you need.

A week prior to this February 2010 Orlando auction, Ritchie Bros. will be conducting a live benefit auction on Monday, February 8, 2010 starting at 6:00 p.m. at the American Rental Association Rental Show. All proceeds go to the ARA Foundation, which implements programs that create educational opportunities, build relationships and aid the equipment rental industry.

Last year’s ARA Foundation benefit auction received donations from 24 ARA Rental Show exhibitors. Auction proceeds were used to award 24 scholarships for 2009-2010 students pursuing rental-related education at accredited institutions. This year’s benefit auction features a wide range of donated items, including equipment and travel packages. Antimony Crusher

Established in 1976 as a rental industry education resource, the ARA Foundation’s other initiatives include a Rental Executive Advisory Program, a disaster relief program and an international rental exchange program.

Like every Ritchie Bros. auction, both auctions will be unreserved, which means there are no minimum bids or reserve prices. Every item will be sold to the highest bidder on auction day, regardless of price.

The trucks have been outfitted with GE’s GDY106 AC electric drive wheel motor as GE was awarded several contracts to supply the aftermarket wheel motors to mine operators in North America and Indonesia.

“As economic stagnation prolongs, mines are looking for ways to more-efficiently utilize existing mining trucks,” said Lori Kieklak, General Manager of GE Transportation’s Mining division. “GE has been able to work very closely with our partner Komatsu, their distributors and the mines to unlock the value of these wheel motor upgrades.”

Added Kieklak: “This upgrade program from GE provides the latest technology for existing mining trucks around the globe while reducing wheel life cycle cost up to 50% over 6 years of operation.” Jaw Crusher

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