Topmac Holdings PLC t/a AURUMEX announces production at its Fairview Mine
(firmenpresse) -
Topmac Holdings PLC t/a AURUMEX announces production at its Fairview Mine
London, UK, 19.04.2011 -- Topmac Holdings PLC t/a AURUMEX (trading on The Frankfurt Exchange WKN: A1CX2W Symbol: LP7) today announces revenue from production at its Fairview mine in Twin Bridges Montana USA.
AURUMEX is pleased to announce that its CFO & Managing Director Mr. Garth Jensen has just completed an inspection of the Montana property and concluded his report to the Board of Directors. In his report Mr. Jensen states that ore from the Fairview Mine will be shipped to the mill for processing this month. Based on the assays and the current gold and silver prices it is expected this first ore shipment will yield revenue of approximately $70,000.00 USD to the Company. It is the Company’s intent to acquire used equipment (as available) and new equipment (as necessary) that will allow it increase its ore production to 1800 tons per month by August of 2011 from the Fairview mine and the Paymaster and Silver Bar mines that will come into production in July and August of 2011, as well as other properties as they become available. The gold yields are expected to average 0.56 oz/T. at Fairview and 0.64 oz/T. at Paymaster. The expected silver yields are 2.5 oz/T at Fairview and 32 oz/T at Silver Bar. These yields reflect an average shrinkage of 15-20%. The revenue projection for the first half year of production exceeds $3,845,000 USD resulting in a net cash flow of $1,738,200 USD based upon current metal prices.
In addition, the company plans to reopen of the Rochester Mill, which has been leased by its subsidiary Snowy Mountain Holdings Inc. to mill its ore. This allows the Company to lower its processing costs adding to profitability. There is some refurbishing and the addition of some equipment required, which has been included in the current capital costs.
The Company is also investigating the use of a new polymer filtration technology that could eliminate the typical smelting process and reduce smelting costs by 65%, thereby further increasing the profitability of the Company. There will be some additional upfront capital costs and permits relating to this process that have yet to be determined and as such have not been included in the cash flow projections at this time.
Through the Company’s subsidiary, Snowy Mountain Holdings in Montana, additional claims are being investigated and as they are inspected, assayed and leased they will be reported and a production schedule included in the cash flow forecast.
AURUMEX has undertaken on a best efforts basis to provide the working capital for these projects.
About Topmac:
Topmac Holdings PLC (Exchange Frankfurt WKN A1CX2W, Symbol: LP7) is a British based, junior resource company focused on the exploration, development and production of mineral resources in Jalisco, Mexico and Montana, USA. The Company is actively engaged in the exploration and emerging production of its mineral properties Paymaster and Fairview mine for Gold and Silber. The Company’s directors and management include industry professionals with a track record of identifying and advancing successful mineral exploration projects. The Company is focused on creating shareholder value with the company's growth strategy to acquire, explore and develop high-quality properties throughout North and South America. Management's corporate philosophy is to be a project generator, explorer and operator with the objective of option/joint venturing projects with junior mining companies through to production.
Contact:
Topmac Holdings plc t/a AURUMEX
Durham Tees Valley Business Centre
Primrose Hill Industrial Estate
Orde Wingate Way
Stockton On Tees TS16 0GA, Great Britain
Contact: Bernardo Vergara
Email: info(at)topmac.eu
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction where such offer, solicitation or sale would be unlawful. The information in this press release constitutes "forward-looking information". Other than statements of historical fact, all statements are "Forward-Looking Statements» that involve such various known and unknown risks, uncertainties and other factors. There can be no assurance that such statements will prove accurate. Results and future events could differ materially from those anticipated in such statements. Readers of this press release are cautioned not to place undue reliance on these "Forward-Looking Statements". Except as otherwise required by applicable securities statutes or regulation, the Company expressly disclaims any intent or obligation to update publicly forward-looking information, whether as a result of new information, future events or otherwise.
Leseranfragen:
Topmac Holdings PLC
1st Floor Newport House
Thornaby Place
Stockton On Tees TS17 6SE, Great Britain
Peter McNichol
Tel.: 0044 1642 610 990
E-Mail: info(at)topmac-group.com
" alt="Topmac Holdings PLC t/a AURUMEX announces production at its Fairview Mine">
" alt="Hathor Exploration Limited to Acquire Terra Ventures Inc.">
Datum: 19.04.2011 - 17:12 Uhr
Sprache: Deutsch
News-ID 29394
Anzahl Zeichen: 0
contact information:
Town:
Wien
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 234 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Topmac Holdings PLC t/a AURUMEX announces production at its Fairview Mine
"
steht unter der journalistisch-redaktionellen Verantwortung von
Topmac Holdings Plc (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
