ABOT Mining Announces Full Production Launch Beginning Early 2012
SHERMAN OAKS, Calif., Dec. 23, 2011 /PRNewswire/ — ABOT Mining (Pink Sheets: ABOT) is pleased to announce its first production plan for beginning of 2012. The total ore allocated to ABOT Mining is estimated to be up to 9 million tons. As reported earlier, initial flotation engineering results from the surface of the ore indicated a recovery value of 89.00% of the Au and Ag and showed 2.51 ounces of Au and 19.00 ounces of Ag per metric ton.
After the initial production run of 1,000 tons of ore in the beginning of 2012, ABOT Mining is planning to increase the tonnage up to 10,000 tons per run subject to agreement with various mills. ABOT Mining further expects feed grade to improve from 2.51 to up to 10.00 ounces of Au per metric ton as the production team access the ore from beneath the surface.
“Beginning of 2012 shall be a watershed moment for ABOT Mining as we will commence full production that will make us a cash flow positive company. Proceeds from operations shall be fully invested to increase the production rate from this allocated tonnage and will concurrently allow us to develop other properties in our portfolio,” said Morris Rafi, President of ABOT Mining.
About the Company
ABOT is a US based mining company engaged in discovering, acquiring, developing, producing, and marketing precious and semi-precious metal properties and is currently headquartered in Sherman Oaks, California. ABOT plans to create long term shareholder value by implementing an aggressive exploration program, making new precious metals discoveries and developing mining properties with long-life and low cost operation. ABOT’s strategy is based on a positive outlook in the precious and semi-precious sector and finding synergies with mineral owners to deliver consistent returns to its shareholders.
Any statements made in this press release which are not historical facts contain certain forward-looking statements; as such term is defined in the Private Security Litigation Reform Act of 1995, concerning potential developments affecting the business, prospects, financial condition and other aspects of the company to which this release pertains. The actual results of the specific items described in this release, and the company’s operations generally, may differ materially from what is projected in such forward-looking statements. Although such statements are based upon the best judgments of management of the company as of the date of this release, significant deviations in magnitude, timing and other factors may result from business risks and uncertainties including, without limitation, the company’s dependence on third parties, general market and economic conditions, technical factors, the availability of outside capital, receipt of revenues and other factors, many of which are beyond the control of the company. The company disclaims any obligation to update information contained in any forward-looking statement. This press release shall not be deemed a general solicitation.
Morris Rafi, President
ABOT Mining Co.
13920 Moorpark Street, Suite 201,
Sherman Oaks, CA 91423
SOURCE ABOT Mining Co.