Unico, Inc. Announces Easement Agreement With PacifiCorp and Additional Updates on Electrical Substation Work That Will Supply Power to the Deer Trail Mine
Posted on: Monday, 25 June 2007, 09:05 CDT
Unico, Incorporated (OTCBB: UCOI), a natural resource company in the precious metals mining sector, today announced that the company has entered into an agreement to grant PacifiCorp (www.pacificorp.com), the electrical utility that operates in Utah as Rocky Mountain Power, an easement for a right of way to establish a connection between the existing substation adjacent to the Deer Trail Mine property and the new substation that will supply power to the Deer Trail Mine.
According to the terms of the agreement, the easement of approximately 40 feet in width and 27 feet in length is designated for the construction, reconstruction, operation, maintenance, repair, replacement, enlargement, and removal of electric power transmission, distribution and communication lines and all necessary accessories.
Rocky Mountain Power arrived at the Deer Trail Mine site last week to begin the installation of the necessary components to support the power supply to the Deer Trail substation. There was a planned outage for the Deer Trail Mine, so Rocky Mountain Power could remove the existing pole that supplies power to site and replace it with a pole suitable to support the air brake switch. The air brake switch will be used to isolate the mill and mine site from the main power source, allowing Unico's wholly owned subsidiary, Deer Trail Mining Company, to continue building the substation with the power infrastructure in place.
Rocky Mountain Power installed a pole that will be used to support the power lines that tie directly to the Deer Trail Mine substation substation. All power wires are being installed and left coiled, so that when the necessary poles, cross arms and metering cabinet are installed by electrical contractor Cache Valley Electric, the final connection can be made. Deer Trail Mining Company has contracted with Cache Valley Electric (www.cve.com), one of the largest electrical contractors in the western United States, to prepare the site and assist with construction of the substation.
Cache Valley Electrical has ordered the metering cabinet and switchgear, which the company expects be delivered to the substation site in the near future. An additional crew from Cache Valley Electric is scheduled to arrive once the equipment is delivered to complete the installations.
A photo gallery showing recent work related to the new electrical substation is expected to be added to the Unico website, www.unicomining.com, in the next several days.
"We are pleased to have the easement agreement in place, paving the way for the connection between the existing electrical substation and the new substation that will supply power to the Deer Trail Mine site," said Mark A. Lopez, chief executive officer of Unico, Inc. "With the initiation of work by Rocky Mountain Power to establish the connection, we look forward to delivery of the remaining components that will complete the substation and allow for a consistent and cost-effective supply of electricity for processing operation and mining activities at the Deer Trail Mine."
Shareholders who would like to sign up to receive information by email directly from Unico, Inc., including when new photo galleries are posted to the company website, are asked to visit the company's website at http://www.unicomining.com/IR/mailinglist.php and fill in the appropriate fields.
About Unico, Inc.
Unico, Inc. (OTCBB: UCOI) is a publicly traded natural resource company in the precious metals mining sector that is focused on the exploration, development and production of gold, silver, lead, zinc, and copper concentrates at its three mine properties: the Deer Trail Mine, the Bromide Basin Mine and the Silver Bell Mine. The company has also announced agreements to acquire over 70 additional mining claims. For more information, please visit www.unicomining.com.
Forward-Looking Statements
This news release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and such Section 21E of the Securities Exchange Act of 1934, as amended. Such statements are subject to risks and uncertainties that could cause actual results to vary materially from those projected in the forward-looking statements. The company may experience significant fluctuations in operating results due to a number of economic, competitive and other factors. These factors could cause operation results to vary significantly from those in prior periods, and those projected in forward-looking statements. Information with respect to these factors, which could materially affect the company and its operations, are included on certain forms the company files with the Securities and Exchange Commission.
Contacts: Gemini Financial Communications, Inc. A. Beyer 951-587-8072 Email Contact OTC Financial Network Rick McCaffrey 781-444-6100, x625 Email Contactwww.otcfn.com/ucoi
SOURCE: Unico, Inc.
Source: MARKET WIRE
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