Movers and Shakers March 15, 2010

Time Warner noted for diversity

Time Warner Cable was named to the 2010 DiversityInc Top 50 Companies for Diversity list for its demonstrated use of measurable diversity best practices and results. A total of 449 companies participated this year, up 12 percent from last year. In its second year on the list, Time Warner Cable rose 15 spots to No. 23. The company has demonstrated strength in the four areas measured - CEO Commitment, Human Capital, Corporate and Organizational Communications and Supplier Diversity.

"It's an honor to be recognized for our commitment to diversity and inclusion," said Glenn Britt, chairman, president & CEO of Time Warner Cable. "We have worked hard to build a workplace that blends, and benefits from, the unique experiences and perspectives of all of our employees. That commitment is also reflected in our community outreach, supplier relationships, and in the products and services we provide to our customers."

"The competition to be on the DiversityInc Top 50 list has grown again this year to 449 companies. In addition, the total data reflected increased diversity across all companies that competed. That means Time Warner Cable has achieved a spot on our list as competition increased and as the competitors increased their accomplishments. This takes a remarkable commitment from top leadership," said Luke Visconti, chief executive officer of DiversityInc.

To qualify for the DiversityInc Top 50 Companies for Diversity, participating companies must have more than 1,000 employees and must fill out a detailed questionnaire based completely on empirical questions. The list, now in its 10th year, is metrics-driven, and companies doing business with DiversityInc receive no advantage.

"This list represents the businesses that treat diversity as an ethical, moral priority and a powerful business tool. Far too many companies are way behind the curve and will find themselves in trouble in the next few years and decade," continued Visconti, "A diverse workforce changes the character and the culture of a company. Thinking that diversity is merely a 'feel-good' or politically correct strategy without real impact will leave companies on the wrong side of history."

The announcement of the DiversityInc Top 50 Companies for Diversity and the 12 specialty lists was made March 9 at a gala in Washington, D.C., and Time Warner Cable will be featured in the June 2010 issue of DiversityInc Magazine.

New Jersey Mining raises funds

New Jersey Mining Co. has completed a private placement of 3,115,000 units at 17 cents per unit for gross proceeds of $529,550. The funds are planned to be used to start gold and silver production at the New Jersey mill in Kellogg with ore mined from the company's Silver Strand and New Jersey mines.

Each unit consists of one share of common stock plus one warrant with each warrant exercisable into a share of common stock at a price of 30 cents until Jan. 31, 2013. Pennaluna & Co. of Coeur d'Alene acted as the placement agent for the offering.

Proceeds will be used to start gold and silver production at the New Jersey mill where a crew is already working on minor modifications and improvements to the concentrate leaching circuit. The New Jersey mill is capable of producing gold-silver 'dore' bars by using direct-electrowinning of a pregnant solution. Processing operations are planned to start in April with material from exploration drifting on the Coleman vein at the New Jersey mine. A mining crew has already started work on the Coleman vein with several rounds blasted already.

Mobilization to the Silver Strand mine is planned for early May as stipulated by the operating permit with the U.S. Forest Service. It is expected that about one month of preparation work will be required before shipment of ore to the mill begins. The plan calls for mining about 4,000 ton from an ore block above the No. 3 Level. Current prices for gold and silver make the economics of mining at the Silver Strand attractive as the ore is relatively high grade at 361 grams per ton silver and 5.43 gpt gold.

The company is currently searching for potential joint venture partners to fund the development of its Golden Chest mine. The company has developed a mine plan with a budget of about $3 million that would complete the ramp to the Idaho vein and start mining a higher grade portion of the vein in six months at an annual rate of 10,000 ounces of gold per year. Ore would be shipped to the fully-permitted New Jersey mill in Kellogg. Concurrent with mining, a surface and underground core drilling program of 10,000 meters would commence. The objective of the mine plan would be to determine if the construction of a large flotation mill at the Golden Chest, capable of producing 50,000 ounces of gold per year, can be justified.

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