Crowne Ventures, Inc. Initiates Smelting Operations
(firmenpresse) - LAS VEGAS, NV -- (Marketwire) -- 08/31/11 -- Crowne Ventures, Inc. (PINKSHEETS: CRWV) is pleased to announce the plans for its smelting operations for the Gallo de Oro and Oro de Rojos properties.
Crowne Ventures has initiated contract discussions with the engineering staff at the Penoles smelter facility in Torreon, Mexico, which is approximately an 18-hour drive from our mining operations. The Penoles laboratory has been running smelting test procedures for the past several weeks. Once the flux formula for the best recovery is established, the facility's production costs will be established.
We plan for the excavated ore to be crushed to 1/8 minus at our mining site. The preliminary test production of 100 tons will be shipped by truck to the smelting facility. The Penoles facility has the capacity to direct smelt up to 3,000 tons of per month. The Penoles smelter processes ore from across Mexico and we are anticipating that we will have access to the majority of the monthly production.
To accommodate the increased production, we will be negotiating with the local rail system for ore cars to be dropped at rail head near the Gallo de Oro property. As a result, shipping costs will be dramatically reduced and NSRs (net smelter returns) dramatically increased.
In the best interests of the Company, we intend to contact additional production facilities across Mexico and test samples of ore will be shipped for amenability testing.
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words or phrases "would be," "would allow," "intends to," "will likely result," "are expected to," "will continue," "anticipate," "expect," "estimate," "project," "indicate," "could," "potentially," "should," "believe," "considers," or similar expressions are intended to identify "forward-looking statements." Actual results could differ materially from those projected in the forward-looking statements as a result of a number of risks and uncertainties. These include the company's historic lack of profitability, end user customer acceptance and actual demand, which may differ significantly from expectations, the need for the company to manage its growth, the need to raise funds for operations and other risks within the regulation of the industry. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. The Company's past performance is not necessarily indicative of its future performance. The Company does not undertake, and the Company specifically disclaims any obligation, to update any forward-looking statements to reflect occurrences, developments, events or circumstances after the date of such statement.
For Further Information Contact:
Investor Relations
Crowne Ventures
310.461.3703
website:
email:
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 31.08.2011 - 15:00 Uhr
Sprache: Deutsch
News-ID 61153
Anzahl Zeichen: 0
contact information:
Town:
LAS VEGAS, NV
Kategorie:
Mining & Metals
Diese Pressemitteilung wurde bisher 251 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Crowne Ventures, Inc. Initiates Smelting Operations"
steht unter der journalistisch-redaktionellen Verantwortung von
Crowne Ventures, Inc. (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
