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Star Navigation Announces Successful Installation of 35 TERRASTAR Land Tracking Units
Star penetrates a new niche with resource companies TORONTO, Aug. 28 /CNW/ - Star Navigation Syst...
About this update from Star Navigation Systems Group Ltd.
[{"type":"text","content":"\n\n\n\nStar penetrates a new niche with resource companies\n\n\nTORONTO, Aug. 28 /CNW/ - Star Navigation Systems Group Ltd. (TSX-V: SNA)\n("Star" or the "Company"), a leading edge technology company focused on\nproviding Aerospace Solutions, both hardware and software platforms to assist\naviation operators worldwide, is pleased to announce that it has successfully\ncompleted the installation of 35 TERRASTAR Land Tracking units and a satellite\nbased terrestrial fleet management solution. (see Press Release May 23, 2008).\n\n\n"Tethyan Copper", a subsidiary of "Barrick Gold" one of the largest gold\nmining companies in the world, is impressed with Star's ground personnel, who\ncompleted the installation on site under tough living and working conditions.\nThe TERRASTAR system is working well. Star will also benefit from additional\nmonthly revenues in recurring air time usage. Based on existing usage, Star\nrevenue from hardware and airtime for the 35 units is expected to be in a\nrange of a minimum of US$156,000 and a maximum of US$256,000, over a five year\nperiod.\n\n\nThis successfully completed installation develops a new niche market for\nStar's TERRASTAR Land Tracking product. Given the recent increase in\nprofitability for the extraction of precious metals, exploration and\nproduction have increased dramatically worldwide. As many of these resource\ncompanies explore in remote destinations, the TERRASTAR Land Tracking product\nis a logical solution for asset management.\n\n\nThis press release is available on the company's official on-line\ninvestor relations site for investor commentary, feedback and questions.\nInvestors are asked to visit http://www.agoracom.com/ir/StarNavigation and\nview the Star Navigation IR HUB. Alternatively, investors are asked to e-mail\nall questions and correspondence to [email protected].\n\n\nAbout Star Navigation:\n\n\nStar Navigation Systems Group Ltd.(www.star-navigation.com) owns the\nexclusive worldwide license to its proprietary, patented In-flight Safety\nMonitoring System, the first system in the world to feature in-flight\ndata-analysis, monitoring and diagnostics with a real-time connection between\naircraft and ground. Its real-time capability of tracking performance-trends\nand predicting incident-occurrence enhances aviation safety and im...