schon über 100 Mio Stk. gehandelt
Initial Annual Gross Revenue Estimated @ $2,737,800.00 - Average Combined Gold Recovery From 3 Operating Mine Sites, Pearl Asian Mining Announces Re-Conditioning of Gold Processing Plants Ongoing; Detailed Feasibility Study & Geological Exploration Commences; Extensive Gold Mineralization Observed In Aroroy & Gango Gold Projects; Higher Daily Gold Recovery at Binasan Minesite Reported
Pearl Asian Mining Industries, Inc. with Stock SYMBOLS: U.S.A. (OTC: PAIM) (OTC: PAIMP) reports Sr. Vice-President and C.O.O. / Chief Mechanical Engineer Ricardo Bernardo leads a team of engineers in re-conditioning and re-furbishing the existing gold processing mill plants in both the Aroroy Gold Mine and Gango Gold Rush Projects. The current Aroroy Gold Mill Plant is capable of processing up to a maximum of 7.2 metric tons of gold ores per day. Based on actual gold recoveries obtained in about 17 years of operation, the Aroroy Gold Project is producing an average of 17 grams of gold per ton of ore, equivalent to approximately 3.9 ounces of gold per day. On the other hand, the Gango Gold Rush Project, with its existing gold processing plant capable of processing up to 15 metric tons of gold ores per day with an average recovery of at least 15 grams per ton, should produce approximately 7.3 ounces of gold per day. Engr. Bernardo?s team is likewise responsible in assessing possible improvements/upgrades in both gold processing plants, with the end in view of designing more efficient, effective, and environment-friendly gold processing equipment.
The Binasan Gold Project, of placer type or free gold, is continuously increasing its gold recovery, with production currently averaging around 18 grams gold per day, equivalent to 0.5 ounce of gold per day. All in all, the total average gold recovery from the 3 operating mine sites is estimated at 11.7 ounces per day. Assuming that the price of gold per ounce is @ $650.00 USD, and given that for every ounce there is approximately 31.0 grams and with 360 days of production in a year, the following calculations show the gross revenue from each mine site:
1. Aroroy Project: 17 grams/ton X 7.2 metric tons of ores/day processing = 122.4 grams/day, or 3.9 ounces/day X $650.00/oz X 360 days/year = US $912,600 Gross
2. Bukidnon Project: 15 grams/ton X 15 metric tons/day processing = 225 grams/day, or 7.3 ounces X $ 650.00 X 360 days /year = US$1,708,200.00 Gross
3. Binasan Project = 18 grams/day, or 0.5 ounce/day X $650/oz X 360 days/year = $117,000 Gross
Estimated Total Annual Gross Gold Recovery is US$2,737,800.00
Pearl Asian Mining Vice President/PRO Ariel Caleon leads the Exploration Mining Team in Aroroy Gold Mine Site consisting of Chief Mining Engineer Cesar Rosales, Chief Geologist Regie Selvano, Chief Metallurgist Elvis Hidalgo and Chief Security Officer General Frank Acosta; while President for Mindanao Operations Manolo Tecson leads the Bukidnon Gango Gold Rush Project.
The Aroroy Gold Team is currently exploring and mining the 18-hectares (44 acres) total land area located in close proximity to Filminera (formerly Atlas) mining company. The Aroroy Gold Team aims to complete a detailed feasibility & geological exploration by the end of June 2007, gathering more samples to determine the total gold reserves and other minerals present. ?It was noted that back in 1990 the current owner had profited at least US $600,000 using the old-fashioned way of mining and recovery. More than 200 kg (6,430 oz.) of gold has been extracted from 1990 to the present. Currently, the mine site has 2 working tunnels, but more tunnels will be developed once geological mapping is completed,? reports Executive President Randolf Villanueva.
?In the Binasan Gold Project, diamond drilling is estimated to start around August 2007, as sporadic afternoon rainfall had delayed the drilling to cover the entire 20-hectares (49 Acres) coverage area of the Binasan mine site. A core drilling campaign is an important part of the overall geological exploration survey of any mineral deposits, which assists one to gain a better insight on the geological structure and deposit type of an ore body. This can also possibly establish quantitative and qualitative parameters of the gold deposits that may be present in the area by accurate sampling of the borehole cores retrieved during the drilling program. It is therefore essential that representative core samples be recovered,? Chief Geologist Regie Selvano reports.
Meanwhile, new offers and expressions of interest from small scale mining operators/landowners for joint venture partnership with Pearl Asian continue to pour in. The Project Santa Barbara in Camarines Norte near Paracale is targeted to start operating soon, as well as the long anticipated opening of the XYZ Gold Mine Site in Baleno.
?Pearl Asian Mining looks forward to this second half of 2007 to bring the best as PAIM continues to expand by opening abandoned mine sites across the country; while sales of other minerals such as manganese, chromite and copper among others are in progress. It is our vision to assist the small scale miners as well as the community to make better use of the God-given resources for the upliftment and betterment of their lives, while benefitting the investments of our foreign investors and shareholders with increased gold productions as well as other minerals which means increased revenues,? exclaimed Exec. V.P. Ariel Caleon
FORWARD STATEMENTS;
Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements in this release include statements regarding the Company's projections regarding gold production in future periods. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties such as: risks relating to estimates of reserves, mineral deposits and production costs; mining and development risks; the risk of commodity price fluctuations; political and regulatory risks; risks of obtaining required operating permits and other risks and uncertainties. Penny Stocks are very highly speculative and may be unsuitable for all but very aggressive investors. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Pearl Asian Mining Industries Inc. ? Philippines Jeffrey Alan Bosaw, 402-212-7840 (Investor Relations) FAX: 877-317-4430 IRJbosaw@yahoo.com www.PearlAsianMining.com
Source: Business Wire (June 18, 2007 - 9:47 AM EDT)
News by QuoteMedia www.quotemedia.com
|