Alan, how about this?
MG Reports Progress With Pilot Plant and Precious Metal Recovery Process
PHOENIX--(BUSINESS WIRE)--Oct. 14, 1999--The MG Natural Resources (OTCBB:MGAU - news) pilot plant has developed three separate grades of precious
metals concentrate for refinery inspection and sale.
These grades are referred to as Stage II, Stage III, and Stage IV products each containing increasing amounts of precious metal content. The company is currently producing and stockpiling the Stage II
product which in turn is processed into the high-grade Stage IV concentrate.
For establishing the production parameters at the pilot plant, a relatively low-grade, precious element-bearing, volcanic basalt that was readily available and also expendable, was utilized. This Stage II product
was subjected to a third-party precious metal analysis with the following recovery results expressed in Troy ounces/ton:
Concentrate Values Calculations to Head Ore
Gold 15.921 0.550
Silver 25.661 0.886
Platinum 107.309 3.705
Palladium 14.872 0.514
Rhodium 23.445 0.810
Iridium 39.871 1.377
Samples of the Stage II product have been sent for inspection to five different refineries for analysis with each refinery's process. Feedback from these refineries has been considerably slower than anticipated,
partly due to the significant presence of platinum-group metals in our samples. The major refineries forwarded the samples to Europe for platinum-group metal analysis and refinery system testing.
On a temporary basis, the pilot plant is producing additional Stage IV product for the purpose of a more immediate product sale. This product is currently under inspection by two refineries.
Forward looking statements in this release are made pursuant to the ``Safe Harbor' provisions of the Private Securities Litigation Act of 1995.
Investors are cautioned that such forward-looking statements involve risks and uncertainties, including without limitation, commodity prices of precious metals, increased levels of competition for the company,
perfection of extraction technology, the company's dependency upon third-party suppliers, intellectual property rights and other risks detailed from time to time in the company's periodic reports. The company
assumes no obligation to update the information in this release.
All inquiries can be made through the offices of MG Natural Resources Corp. at 1334 E. Chandler Blvd., No. 5, B-72, Phoenix, Arizona 85048 or by calling Mike Amundson, president and chief executive
officer, at 480/460-7842 or Fax at 480/460-6324. MG Natural Resources information can also be obtained through its Web Site, mg-resources.com
Contact:
MG Natural Resources Corp., Phoenix
Mike Amundson, 602/460-7842
Fax: 602/460-6324
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