STBY great news IMO!
DENVER, Apr 27, 2000 /PRNewswire via COMTEX/ -- Stansbury Holdings Corporation
(OTC Bulletin Board: STBY) announced today that it has agreed to acquire the Los
Banos, California, vermiculite exfoliation plant, and that all funding required
for closing on that purchase has been arranged. The purchase is expected to be
completed the first week of May.
The Los Banos Exfoliation Plant, constructed in 1998, has the capacity for
producing 5000 tons of exfoliated vermiculite per year. Stansbury plans an
expansion of that capacity, which should more than double the plant output by
mid-2001.
The exfoliated vermiculite product produced at the Los Banos Plant is purchased
by the horticulture industry in the San Joaquin valley, and the entire output of
the current plant is dedicated to fulfilling that product demand. Exfoliated
vermiculite in 1999 sold at wholesale, FOB Los Banos, at an average price of
approximately $460 per ton.
Stansbury Holdings Corporation is a natural resource holding company, whose
website is www.stansburyholdings.com. Stansbury owns two large vermiculite
deposits in Montana, and is conducting mining and milling operations on the
deposit near Dillon, Montana, from which it is currently shipping vermiculite
concentrate to Los Banos.
SOURCE Stansbury Holdings Corporation
(C) 2000 PR Newswire. All rights reserved.
prnewswire.com
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CONTACT: Aldine J. Coffman, Jr., President, 720-748-1407, or Fax,
720-748-1408, or e-mail, ajcoffman@earthlink.net, or Brian Mc
arty, Investor
Relations, Stansbury, 215-928-9630, or e-mail, bmccarty@netre
ch.net, both for
Stansbury Holdings
KEYWORD: Pennsylvania
California
INDUSTRY KEYWORD: MNG
SUBJECT CODE: TNM
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