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Post by Franko10 ™ on Jan 30, 2005 21:53:12 GMT -5
Juina Mining Begins Testing of Production Facility
RENO, Nev.--(BUSINESS WIRE)--Jan. 20, 1999--Juina Mining Corp. (OTC BB:GEMM)(BERLIN:JUI.BER) Wednesday announced that the company has begun processing diamond-bearing gravel at its plant in Juina, Mato Grosso, Brazil.
In the beginning stages of production, the company is processing gravel through pulsating concentration machines (jigs) and magnetic separators. Particular attention is being paid to the five state-of-the-art magnetic separators which are being calibrated in accordance with the geological properties of the local alluvial gravels to increase processing efficiency and to facilitate diamond recovery.
A senior technician from the American company that manufactured the magnetic separators spent three days during the week ended Jan. 15 at the plant supervising the assembly and installation of each machine.
Other components of the plant are in the final assembly stage at this time. Delays from both year-end holidays and unusually heavy rains in December (which created transportation problems and work stoppages for several days) caused serious gaps in the work process. To compensate for these delays, additional supervisory staff and work crews have been brought in to complete the plant assembly process as quickly as possible.
The plant will be fully commissioned after the remaining stages in the production flow process are completed and tested. When completed, the plant will be among the most modern, state-of-the-art facilities of its kind in all of South America.
With regard to the recent decline in the value of the Brazilian currency on world financial markets, the company is pleased to report that it will benefit from this crisis. The company transacts its business in American dollars, and the increased purchasing power of the dollar, with relation to the Brazilian real, will lower overhead costs in Brazil.
Juina Mining is a diamond resource and exploration company with exclusive rights to a mining and mineral concession on 2,471 acres located in Juina.
Visit Juina's Web site at www.juinamining.com to learn more about the company and to view the progress and preparation of the production facility.
Notice Regarding Forward-Looking Statements in News Release
To the extent that this news release contains forward-looking statements regarding the financial condition, operating results, business prospects or any other aspect of the company, be advised that the company's actual financial condition, operating results and business performance may differ materially from those projected by the company in forward-looking statements. The differences may be caused by a variety of factors, including, but not limited to adverse economic conditions; intense competition including intensification of price competition and entry of new competitors; adverse federal, state and local government regulation; inadequate capital; adverse weather conditions which could result in a slowdown of the company's mining operations; unexpected costs and operating deficits; increases in general and administrative costs; lower sales and revenues than forecast; disadvantageous currency exchange rates; termination of contracts; loss of supplies; price increases for supplies and components; failure to obtain new customers and distribution channels; litigation and administrative proceedings involving the company; adverse publicity; loss or retirement of key executives and management personnel; interest rate changes; inflationary factors and other specific risks that may be alluded to in this news release or any other reports issued by the company.
COPYRIGHT 1999 Business Wire
COPYRIGHT 2000 Gale Group
RENO, Nev.--(BUSINESS WIRE)--Jan. 20, 1999--Juina Mining Corp. (OTC BB:GEMM)(BERLIN:JUI.BER) Wednesday announced that the company has begun processing diamond-bearing gravel at its plant in Juina, Mato Grosso, Brazil.
In the beginning stages of production, the company is processing gravel through pulsating concentration machines (jigs) and magnetic separators. Particular attention is being paid to the five state-of-the-art magnetic separators which are being calibrated in accordance with the geological properties of the local alluvial gravels to increase processing efficiency and to facilitate diamond recovery.
A senior technician from the American company that manufactured the magnetic separators spent three days during the week ended Jan. 15 at the plant supervising the assembly and installation of each machine.
Other components of the plant are in the final assembly stage at this time. Delays from both year-end holidays and unusually heavy rains in December (which created transportation problems and work stoppages for several days) caused serious gaps in the work process. To compensate for these delays, additional supervisory staff and work crews have been brought in to complete the plant assembly process as quickly as possible.
The plant will be fully commissioned after the remaining stages in the production flow process are completed and tested. When completed, the plant will be among the most modern, state-of-the-art facilities of its kind in all of South America.
With regard to the recent decline in the value of the Brazilian currency on world financial markets, the company is pleased to report that it will benefit from this crisis. The company transacts its business in American dollars, and the increased purchasing power of the dollar, with relation to the Brazilian real, will lower overhead costs in Brazil.
Juina Mining is a diamond resource and exploration company with exclusive rights to a mining and mineral concession on 2,471 acres located in Juina.
Visit Juina's Web site at www.juinamining.com to learn more about the company and to view the progress and preparation of the production facility.
Notice Regarding Forward-Looking Statements in News Release
To the extent that this news release contains forward-looking statements regarding the financial condition, operating results, business prospects or any other aspect of the company, be advised that the company's actual financial condition, operating results and business performance may differ materially from those projected by the company in forward-looking statements. The differences may be caused by a variety of factors, including, but not limited to adverse economic conditions; intense competition including intensification of price competition and entry of new competitors; adverse federal, state and local government regulation; inadequate capital; adverse weather conditions which could result in a slowdown of the company's mining operations; unexpected costs and operating deficits; increases in general and administrative costs; lower sales and revenues than forecast; disadvantageous currency exchange rates; termination of contracts; loss of supplies; price increases for supplies and components; failure to obtain new customers and distribution channels; litigation and administrative proceedings involving the company; adverse publicity; loss or retirement of key executives and management personnel; interest rate changes; inflationary factors and other specific risks that may be alluded to in this news release or any other reports issued by the company.
COPYRIGHT 1999 Business Wire
COPYRIGHT 2000 Gale Group
