Mindpix Corp., (Pink: MPIX), Announces Funding Progress Into Gilman Metals Co. LLC
ORLANDO, Fla., Oct. 31, 2011 /PRNewswire/ — Mindpix Corp. (Pink: MPIX) issues updates to the Press Release dated 27th of October and regarding the funding arrangements for Gilman Metals Co. LLC. Mindpix had announced that it had arranged for $500 million of Funding for Gilman Metals. Gilman Metal’s is pleased to announce the confirmation of it’s first to be issued Stand by Letter of Credit (SBLC) in the amount of euro 150,000,000.00 (One Hundred Fifty Million Euros). This SBLC shall be secured by Gilman’s precious metals assets; that far exceed the face amount of the instrument. The issuance of the SBLC will take place no later than the 1st November 2011. The SBLC shall be delivered by Swift MT760 and will be monetized by a top 50 bank. Gilman’s lenders, Inter Global Investments, LLC., anticipates all committed funding of $500 Million previously announced to be completed within 45 days of this initial transaction.
On October 27, 2011 Mindpix Corp. (Pink: MPIX) announced it had signed an agreement to acquire 25% interest in Gilman Metals Corp. in exchange for 100,000,000 shares of 144 common stock in Mindpix Corp. (MPIX). Gilman Metals Corp. owns Certified high grade mineral concentrates containing precious metals including gold, silver, platinum, palladium, rhodium, osmium, iridium and ruthenium, worth in excess of $1,200,000,000. Mindpix will own a twenty five percent of all income and assets held by the emerging new technology and mineral company.
GILMAN METALS PRODUCTION INFORMATION:
Gilman Metals use the technology of Plasma Leaching for processing their concentrates. Jeff Camocho & Paul M. Jones, a former 3M engineer, developed the type of recovery system and refinement process currently being used by Gilman Metals Co. Mr. Jones’ Plasma leach system is the result of over twenty years work in the lab and in the field. He initially set out to develop a chemical solution that could be used in the field to determine the metal content in rock right at the rock’s location. The experimentation ultimately resulted in a product that not only works for minerals content analysis and exploration, but also for metals mining and processing plant operations. The Plasma leach solution is relatively inexpensive to produce and can be made almost anywhere. With a pH of -1 it is one of the most corrosive chemical compounds known to man, but because of the unusual makeup of the leach solution, it is buffered against organic materials that makes it safe to use and enables its safe disposal.
39 Barrels of Concentrate Ore -Once the initial Funding is received, Gilman Metals will start processing the Mineral Concentrates. The initial inventory the property of Gilman Metals Co. consists of 39 barrels of concentrated metals and each barrel has an approximate average weight of 1,000 pounds. The contents of the barrels are called concentrates because they have already been reduced to approximately 1/250 of the original ore body volume; once the uneconomic slack was removed. The concentration process involves crushing the rhodium ore body to a fine state, then separating the target metals through centrifuge and chemical flotation methods. At the completion of the concentration process, the material has the appearance of a fine black powder that has a substantial metal content. Precious metals sought in the concentrate material include: gold, silver, platinum, palladium, rhodium osmium iridium, and ruthenium. It is estimated that after the Plasma Leaching takes place each barrel will produce a return in the area of $1,500,000. The 39 Barrels will produce approximately $58 to $60 Million.
Gilman Metals has released its new web site today; www.gilmanmetals.com. Investors and interested parties can visit the site and read more about the operations of Gilman Metals and this unique processing system. Future information will include weekly updates that provide the production levels plus the approximate value of each weeks production.
About Gilman Metals Company, LLC
Gilman Metals Company, LLC, a Colorado Limited Liability Company, was formed on June 1st, 2005 for the main purpose of managing, acquiring and refining concentrated metals to extract precious metals via a process using a new plasma arc technology. This new endeavor captures and separates highly valued precious metals from hazardous trash while cleaning it up at no cost to the tax payer and creating substantial wealth and income in the US. This innovation has proven successful in its “closed-loop technology” which creates energy while cleaning up Super Fund type projects on the global stage.
About Mindpix Corp.
MINDPIX CORP. (MPIX), www.mindpix.com, is a holding company that invests in multi-media entertainment, internet, networks, communications and new emerging technology companies. Mindpix Corp. has recently updated their disclosure and financial information at OTCMarkets. All files can be found at www.otcmarkets.com/stock/MPIX/financials
This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that all forward looking statements involve risks and uncertainties, including, without limitation, the future press releases of eMax.
Contact for Mindpix email@example.com.
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SOURCE Mindpix Corp.