Post by Zoinkers on Jul 31, 2006 20:24:04 GMT -5
Press Release Source: Equitable Mining Corp.
Equitable Mining Corp. Finalizing China Project
Monday July 10, 5:00 am ET
TORONTO, July 10 /PRNewswire-FirstCall/ - Equitable Mining Corp. (Trading as EQBM.PK & E5W.F) executives are meeting with the owners of the Dalian Mine Tailings project the week of July 10.
The due diligence has been completed and the property has received Chinese Government environmental approvals. The property is currently owned by D.A.K., a privately owned Chinese resource corporation held by H.M.H. of Hong Kong. Once the agreements are finalized and executed, Equitable Mining Corp. will own 35% of all operations and mineral rights. Significant deposits of gold, platinum, palladium, rhodium and copper have been identified in the mine and mine tailings. Monthly revenues of $1.6 million and annual revenues of $19.2 million are projected within eight months of closing.
The Dalian acquisition covers the mineral rights to 220,000 square meters of land leased from the government for 25 years with 15 years remaining, with right of renewal. The property includes 5.2 million tons of mine tailings plus infrastructure in place including roads, electricity, water, fencing, storm sewer, transportation and one operating production line. To date $7 million has been invested in the project by H.M.H. and D.A.K. Once the acquisition is complete Equitable Mining Corp. plans to increase production to three lines, within the first eight months. The company will utilize D.A.K.'s environmentally friendly leaching process to extract the mineral deposits.
In additional news Equitable Mining Corp. is continuing to develop relationships with market makers in Europe to help create investor awareness on the Frankfurt Exchange.
The Bonanza Property in the Red Lake District of Ontario, Canada is continuing to proceed. The agreement is with the legal department for final approvals. The mining and exploration report is progressing and will be released as soon as possible.
Safe Harbor
Certain statements above constitute forward-looking statements. Such forward- looking statements may involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the companies to be materially different from any further results, performance or achievements expressed or implied by such forward-looking statements.
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Source: Equitable Mining Corp.
Equitable Mining Corp. Finalizing China Project
Monday July 10, 5:00 am ET
TORONTO, July 10 /PRNewswire-FirstCall/ - Equitable Mining Corp. (Trading as EQBM.PK & E5W.F) executives are meeting with the owners of the Dalian Mine Tailings project the week of July 10.
The due diligence has been completed and the property has received Chinese Government environmental approvals. The property is currently owned by D.A.K., a privately owned Chinese resource corporation held by H.M.H. of Hong Kong. Once the agreements are finalized and executed, Equitable Mining Corp. will own 35% of all operations and mineral rights. Significant deposits of gold, platinum, palladium, rhodium and copper have been identified in the mine and mine tailings. Monthly revenues of $1.6 million and annual revenues of $19.2 million are projected within eight months of closing.
The Dalian acquisition covers the mineral rights to 220,000 square meters of land leased from the government for 25 years with 15 years remaining, with right of renewal. The property includes 5.2 million tons of mine tailings plus infrastructure in place including roads, electricity, water, fencing, storm sewer, transportation and one operating production line. To date $7 million has been invested in the project by H.M.H. and D.A.K. Once the acquisition is complete Equitable Mining Corp. plans to increase production to three lines, within the first eight months. The company will utilize D.A.K.'s environmentally friendly leaching process to extract the mineral deposits.
In additional news Equitable Mining Corp. is continuing to develop relationships with market makers in Europe to help create investor awareness on the Frankfurt Exchange.
The Bonanza Property in the Red Lake District of Ontario, Canada is continuing to proceed. The agreement is with the legal department for final approvals. The mining and exploration report is progressing and will be released as soon as possible.
Safe Harbor
Certain statements above constitute forward-looking statements. Such forward- looking statements may involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the companies to be materially different from any further results, performance or achievements expressed or implied by such forward-looking statements.
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Source: Equitable Mining Corp.