- Estimated $653,450.00 Per Month Gross Revenue For Gango Gold Project Alone
15:30 02.10.07
XYZ Gold Mine Project Is Mobilized: Binasan Gold Project Other Revenue: PAIM Hires the Professional IR Services of Jordan Richard Assoc. LLC
MANILA, Philippines--(BUSINESS WIRE)--Pearl Asian Mining Industries, Inc. with Stock SYMBOLS: U.S.A.
(OTC common shares: PAIM)(preferred shares: PAIIP)(Germany XETRA: R1Z.DE)(Frankfurt:
R1Z.F) today announces:
GANGO GOLD RUSH-Bukidnon: The joint participation efforts between
Pearl Asians Golden Dream Team and OROGAPCOs
local small scale operators, a common livelihood in Gango, Bukidnon,
have brought significant enhancements for PAIM to start processing,
producing and expanding.
As the company starts to process the large amount of stock piles
gathered from the first re-conditioned OROGAPCO-PAMI Tunnel #1 this
month, the gold rich ores were assayed to contain approximately 15 to 20
grams of gold per ton @ 50 metric tons per day capacity operation, seven
days a week, 24 hours a day, to yield about 937.5 ounces gold @ $700.00
USD per ounce of gold, thus yielding a revenue of approximately
$653,450.00 USD gross income per month, less 30% direct and indirect
costs to Net at about $457,415.00 per month.
The 50 Metric Tons per day C-I-L (Carbon-In-Leach) Gold Processing Plant
will also re-process the existing tailing pond. This existing tailing
pond which was impounded from the small scale miner operators having a
45% gold recovery only using the toxic mercury, can be fed again into
the C-I-L tank for further gold recovery. Thus, Pearl Asian will
reproduce up to 90% gold recovery, under the secondary leaching
procedure.
XYZ Gold-Masbate: Vice-President and XYZ Masbate
Officer-In-Charge Ariel Caleon and Chief Mining Officer Cesar Rosales
lead this project to start fast tracking the 3-months XYZ Plan of Action
and Mobilization of the XYZ Operations starting October, 2007. Last
week, the Golden Dream Teams very successful
meeting with the local government officials, Governor, and the people in
the local communities paved the way for the acceptance of having the
presence of Pearl Asian Mining, to begin operating in the XYZ Gold
Mountain. Pearl Asian acquired a third branch office and housing area in
Masbate City. A 250 Metric Ton C-I-L Gold Processing Plant design has
been developed, submitted and been approved for the XYZ mine site. The
Golden Dream Team is now identifying the exact XYZ location where to
build the C-I-L Gold Processing plant.
BINASAN Gold Project: The Indigenous Group of Higaonon People has
shown the complete transition and awareness to becoming self-sustaining
citizens. They have indicated to have harvested substantial gold. Pearl
Asian will continue to empower our brothers and sisters in the mountains
to help alleviate their poverty.
Moreover, Pearl Asian hires the professional services of Jordan Richard
Assoc., LLC - the new professional Investor Relations Company to start
effective October 10, 2007. This finalizes one of the last requirements
in order to complete the up listing of PAIM to a higher exchange.
PAIM is doing its utmost caution and care for the environment as Pearl
Asians Management will do the best they can
to use all other alternative method of gold processing in replacement to
the toxic mercury commonly used by the natives and majority of the small
scale operators. President for Mindanao Operations Manolo Tecson is
working side by side with the government agencies such as MGB & DENR
PENRO for the implementation of PAIMs Gold
Processing to service all other small-scale operators in the area, so
that the health care and safety of the people and its environment will
be protected. PAIM will also implement the re-forestation program of
planting trees at a ratio of: for every 1 tree cut down will be replaced
by re-planting 5 seedlings.
PAIM aspires and visions to become the true model to other mining
industries by developing a state-of-the-art gold processing plant, and
to become a pioneering, major mining industry, embracing the interactive
participation, environmental protection and raising of PAIM visibility
to the whole mining communities. PAIM is representing a change in
business model primarily by the participation of the small scale mining
partners, the Indigenous People and Muslim brothers and sisters.
Through ORO - Operation Reach Out USA, a Non Profit
Corporation, Pearl Asian Mining builds the communities with other viable
programs. Pearl Asian continues to be the leader in the remote mining
community development, by building access roads, building schools,
health care centers, meditation centers and all other housing projects;
introducing and teaching a livelihood such as handicrafts for the local
men and women, besides mining, thus PAIM is helping the development of
the people socially, morally, mentally and spiritually.
PAIM will continue to have an unwavering
focus on fostering connections to solve this major problem and all other
mining challenges. As such, PAIMs role is to
be the catalyst for bringing together mining industry skilled and
unskilled workers, government regulators LGUs,
NGOs, Environmentalists, Ecologists, thus
resulting in a more productive yet cost-effective, health and safety
awareness, stated President for Mindanao
Operations Manolo Tecson.
PAIM s Golden
Dream Teams engineering experience is going
to be a natural extension of careful mining technology and is
demonstrating our joint collaboration in providing an extensive menu of
environmentally responsible, energy-efficient, and safety awareness
technology of choices! added Executive
President Randolf Villanueva.
About PAIM
Pearl Asian Mining Industries Inc. (Pearl Asian) is an
international mining company exploring the world for opportunities to
open or reopen mine facilities and develop them into productive and
profitable operations. Pearl Asian Mining Industries, Inc. is a growing
international mining operation that is working to realize the potential
of previously underdeveloped mining operations with proven gold
reserves. Pearl Asian is fully committed to both its investors and the
communities in which it operates and will use its impressive technical
resources to ensure the best for all parties. Whether addressing returns
on investment or health and safety, Pearl Asian Mining Industries
pledges the highest degree of concern. For more information, visit www
pearlasianminin.com.
Forward-Looking Statements
Forward-looking statements involve known and unknown risks,
uncertainties and other factors that may cause our actual results,
performance or achievements to differ materially from the anticipated
results, performance or achievements expressed or implied by such
forward-looking statements. Forward-looking statements in this release
include statements regarding the Company's projections regarding gold
production in future periods. Factors that could cause actual results to
differ materially from anticipated results include risks and
uncertainties such as: risks relating to estimates of reserves, mineral
deposits and production costs; mining and development risks; the risk of
commodity price fluctuations; political and regulatory risks; risks of
obtaining required operating permits and other risks and uncertainties.
Penny Stocks are very highly speculative and may be unsuitable for all
but very aggressive investors. The Company disclaims any intention or
obligation to update or revise any forward-looking statements, whether
as a result of new information, future events or otherwise.
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