$6,800 Gross Sale/Revenue From Over 312 Grams (10 Ounces) Is Being Sold This Week From First Gold Production, Pearl Asian Mining Industries, Inc. Announces
Posted on: Monday, 5 February 2007, 09:00 CST
Pearl Asian Mining Industries, Inc. with Stock SYMBOLS: U.S.A. (OTC:PAIM); Germany (XETRA:R1Z) and (Frankfurt:R1Z) proudly announces its highly anticipated first revenue this week from its first developed and operational gold mine site using the manual methods and hydraulicking procedure of gold harvesting. This first gold revenue along with the coming months marks the beginning of revenue reporting to be reflected this first quarter of PAIM's 2007 financial statement.
The Gold Team led by Chief Mining Officer Engineer Cesar Rosales continues to develop, enhance, and improve the production rate to reach the initial goal of at least 1 kilogram (32 ounces) of gold per week. "We look forward to a very healthy gold production this month of February and the months ahead as the warm and sunny weather has started in the Philippines," exclaimed CMO Rosales.
Meanwhile, diamond core drilling is due to start this month as Chief Geologist Regino Selvano and his team of geologists Arlene Aguila and Bart Apuan are already at the mine site to focus on this vital task.
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.
Source: Business Wire
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