Vanguard Mining Reports Progress on Development of Limestone Mine in North Sumatra
(firmenpresse) - NEW YORK, NY and JAKARTA, INDONESIA -- (Marketwired) -- 12/18/14 -- Vanguard Mining Corporation (OTC PINK: VNMC) (NASDAQ: VNMC) today announced that PT Mega Kencana Persada (MKP), a company owning a 330-hectare limestone concession in Mandailing Natal, North Sumatra, has confirmed that it has met all the requirements for licensing and permitting and will be ready to commence production in early 2015.
In the first phase, MKP plans to produce about 25,000 MT of crushed limestone per month during the first six months and 50,000 MT per month for the next six months, and generate approximately $11,250,000 in revenues and $2,812,500 net income during the first year. Beginning the second year, it can increase production capacity to 1.2 million MT per year for export markets, with projected revenues of $30 million and net income of $7,500,000 per year. The estimated limestone deposits of this concession are about 150 million MT.
VNMC and MKP also plan to produce other limestone products from this mine, including quicklime for use especially in metallurgical industry and environmental remediation, hydrated lime for paper technology, construction, agriculture soil and water treatment, precipitated calcium carbonate (PCC) for petrochemical industry, paint, rubber, seafood, among others, nano-precipitated calcium carbonate (NPCC) to process high quality chemical cosmetics and foodstuffs, and coated and uncoated PCC and NPCC for use as additives in industries of asphalt plastic, paper, rubber, paint, cosmetics, foodstuffs and medicines. These products command much higher prices and profit margins than crushed limestone.
On another note, VNMC believes the new product lines for the silica sand company in Central Vietnam it is acquiring, including fiberglass, silicon dioxide and silica cullet, can generate an additional $100 million in revenues and 15-20% net profits within two years.
Jalani Haniffa, President of VNMC, stated, "We are very pleased with the progress at PT Mega Kencana and look forward to going into production early next year. Together with the acquisition of the silica sand company in Central Vietnam, we are confident that VNMC can reach revenue levels of $130 - $150 million by the end of the second year after production begins."
Founded in 1987, Vanguard Mining Corporation, a Nevada corporation, is building and developing a portfolio of mineral assets in Southeast Asia, including gold, copper, limestone, gypsum, granite and sand. VNMC has signed an agreement to acquire 75% of PT Mega Kencana and an MOU to acquire 51% of the silica sand company in Central Vietnam.
This news release contains forward-looking statements that are subject to certain risks and uncertainties that may cause actual results to differ materially from those projected on the basis of such forward-looking statements. Such forward-looking statements are made based upon management's beliefs, as well as assumptions made by, and information currently available to, management pursuant to the "safe-harbor" provisions of the Private Securities Litigation Reform Act of 1995.
Vanguard Mining Corp.
+1-702-605-4506
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Datum: 18.12.2014 - 11:00 Uhr
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