• E-mail
• Print
• Comment
• Font Size
• Digg
• del.icio.us
• Discuss article

Pearl Asian Acquires an Additional 3,000 Square Meters of Land for Gold/Silver Refinery Facility

Posted on: Thursday, 16 March 2006, 09:00 CST

The Board of Directors of Pearl Asian Mining (OTC:PAIM) announces today the acquisition of 3,000 square meters of the industrial corner vacant lot along Plaridel & Don Soriano Streets in Mandaue City, Cebu Island. This will provide additional revenue opportunities for the Company.

The second and third quarters of 2006 will mark the period of infrastructure development and construction particularly for the Chemical/Metallurgical Division of Pearl Asian. Anthony Gary Gotanco, a one-time Philippines' Chemical Engineering Board Examination Top Notcher, has joined Pearl Asian as the Director of its Business Development & Chief Chemical/Metallurgical Group. Gary is teamed up with three highly qualified and very intelligent engineers: Elvis Hidalgo serves as the Chief Metallurgist; Rochelle Laylay, the Research & Development (R&D) Chemist and Emylyn Noma, the Chief Quality Assurance & Control (QA/QC) Chemist.

This CHEM/MET Gold Team has been working together in the feasibility of setting up a chemical and metallurgical laboratory, including the Gold/Silver Refinery Plant.

The commercial chemical and metallurgical laboratory is envisioned to serve the laboratory analytical requirements of Pearl Asian, other companies and the general public of the Philippines, specializing in water-testing, metal/ore analysis and diagnostic medical & biotechnology center.

The Gold/Silver Refinery plant is envisioned to extract gold and other precious metals from tailings obtained. The objective of this study is to determine the feasibility of setting up a chemical and metallurgical laboratory, including a pilot plant for gold extraction, in the booming industrialized area of Cebu City. The pilot plant is envisioned to extract gold and other precious metals from tailings purchased or obtained from small-scale mining operations, especially those from areas near Cebu and other provinces with known rich mining operations.

The Chemical & Metallurgical Laboratory will be the preeminent commercial laboratory and pilot plant in the country, generating excellent return on investment for its investors. This institution will serve the laboratory analytical and R & D requirements of all its customers on time, with highest regard for quality, safety of its personnel, and environment-friendliness, knowing that this will greatly assist PAIM to attain its objectives. It is also the Chemical & Metallurgical Laboratory's mission and ultimate intention to serve the needs of its customers with particular emphasis on the gold mining industry, in a profitable yet environment-friendly manner, taking into consideration the concerns of all its stakeholders, the customers, PAIM, and its investors, the government, and, last but not the least, its personnel consisting of world-class and cream-of-the-crop Filipino engineers.

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. 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

More News in this Category