Manufacturing Of Gold Mining Equipment Completed and Shipped From China Today to Cagayan De Oro, Pearl Asian Mining Announces
Posted on: Monday, 17 July 2006, 09:00 CDT
Chief Metallurgist Engr. Elvis Hidalgo and VP/ IRO Engr. Gary Gotanco of Pearl Asian Mining (OTC:PAIM) reports: The Pearl Asian mining engineering group called "CDO Gold Team" is prepared to receive the gold mining equipment from China. They have been preparing the mine and the gold plant site for weeks to set it up by July 31, 2006. The team has been using manual methods in breaking and preparing the location site by using moil, bareta and sledge hammers and using horses due to the remoteness of the area.
The CDO Gold Team is hoping to get the plant into operation within the first week of August or upon its arrival and obtain the first gold revenues. The funds to be generated will be used to cover overheads, purchase larger and state of the art equipment to break and haul the ores instead of the manual methods currently being used. The Gold Team will be able to explore larger goldveins that contain richer and higher grade gold ores, to build better housing accommodation, mine site office and communication center, medical clinic or dispensary. Pearl Asian will be able to hire additional miners and to increase the production rate from the small scale operations to 100++ tons per day by upgrading and adding bigger capacity of the processing plant.
An 18-20 tpd (tons per day) operation, a safe and environmentally friendly methodology, using specific gravity gold and silver extraction processing plant is designed to extract and to process these gold ores. This initial processing plant will act as a pilot plant for the envisaged full-scale operation, to increase the production rate from 20 tpd to 100-200 tpd.
The Operation CDO will produce gold and silver concentrates containing other precious metals and by-products such as copper and zinc.
It should be noted that "Operation Cagayan De Oro" will be the flagship of Pearl Asian Mining (PAIM) for sometime to come, covering an estimated 7,000 hectares of ancestral domain land. An approximately 20 hectares portion of this small scale mining operation, being permitted, is a joint venture gold mining project between Pearl Asian Mining (PAIM) and the Higaonon Tribes led by Chieftain Datu Joni of the Indigenous Group of People located in the Eastern Region of Mindanao.
FORWARD-LOOKING 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. The Factors that could cause actual result to differ materially from anticipated results includes 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 the result of new information, future events or otherwise.
Source: Business Wire
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User Comments (1)
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Posted by Mark smith on 08/05/2009, 22:40 IN GOD WE TRUST? we are for Good faith soliciting your Assistance for procurement of mining equipment with sum of $1.8m Trustee commission will get 30% Agreement will be sign on this effect (MOU) Confirm your house address or office, with your Telephone numbers I will send you the list of the mining equipment, with purchase order for market research . We have the funds with bank here in Ghana, Confirm your bank account details information for swift wire transfer A lawyer will get you with affidavit of claim so that the funds will be declared on your name, to the ministry of justice And new account will be open and the total sum will be deposited and bank will send you beneficiary deposit agreement for you to sign and return it that will be done immediately the your address information. EMAIL: Telephone NO: +23324407636 thank you . Mark smith |
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