Pearl Asian Mining Industries, Inc. with Stock SYMBOLS: U.S.A.
(PAIM) (PAIMP); Germany (XETRA:R1Z.DE)
and (Frankfurt:R1Z.F) announces that the Gango Gold Rush’s
gold mill processing plant will soon be operational by Sept. 20, 2007.
“Several manpower consisting of a team of
highly skilled welders, mechanics and electricians were hired to
recondition the processing plant. An expert gold assayer is being
hired to test the grade of ores prior to feeding into the gold mill
plant. Engineer Gil Salutim, a highly skilled mechanical engineer was
hired to supervise the gold mill plant operation. The plant capacity is
50 metric tons per day of ores processing, at an average grade of 14
grams per metric ton and expandable up to 250 metric tons as the need
arises. Aside from the reconditioning of the existing mill plant, a
brand new and modern automatic controlled AARL Gold recovery plant will
be added,” reported by President/COO Eng’r.
Ricardo Bernardo.
Pearl Asian Mining continues to boost up the joint venture agreement
with OROGAPCO, an organized gold mining cooperative in Gango, Bukidnon.
The Gold mining venture in the Gango Gold Rush area is now in full swing
to implement the mining operations within the 58 hectares of land with
its known rich gold mine tunnels.
OROGAPCO and Pearl Asian held a General Assembly Meeting last August 17th,
attended by about 600 local residents and miners within the 58 hectares
Gold Rush area. It was also attended by some Government officials and
Concern Government Agency and (LGU’s) Local
Government Unit. Lady Geologist, Arlene Aguila, clarified the technical
aspects of the company’s geological and mining
operation, including the company’s strict
adherence to the environmental protection concerns.
In addition, the MGB (Mines & Geo-Science Bureau) and BENRO (Bukidon’s
Environmental & Natural Resources Office) accepted PAIM’s
Social Development and Management Program as they are suitable for the
community and environmental protection.
“Out of some previous 6 mining companies that
attempted to operate in the Gango Gold Rush, only Pearl Asian Mining
succeeded to operate because of its unique outreach program and
community development. There is no room to stop the rapid growth and
expansion of Pearl Asian Mining; its gold mining operations in the Gango
Gold area, and its future increase revenues,”
explained Peter Francisco, Chairman of OROGAPCO.
“More small scale mining stake holders and
organizations in the Gold Rush Area are submitting proposals for a joint
venture agreement with Pearl Asian Mining, because they saw and proved
the credibility of PAIM’s gold mining
operations as well as the community outreach program implementation,”
affirmed Manolo Tecson, President/COO Mindanao Operations.
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.
