Buying HCCA at these levels. should return over .20 to .30 range soon.
HCCAD now HCCA after name change to Hexagon Consolidated companies of America (HCCA)
Company Press Release Wednesday September 29, 6:00 am Eastern Time
SOURCE: Hexagon Consolidated Companies of America, Inc.
Hexagon Consolidated Companies of America, Inc. Begins First Production Phase
RENO, Nev., Sept. 29 /PRNewswire/ -- Hexagon Consolidated Companies of America, Inc. (formerly Health Care Centers of America, Inc.) (OTC Bulletin Board: HCCAD - news) announced today that its wholly owned subsidiary, Peeples Mining Co. (Peeples), has begun the first production phase of processing its 450-barrel (approximately 144 tons) from ore concentrate. In this first phase, ''free'' gold is mechanically separated from the ore concentrate and melted together in a furnace located on the mill site, in preparation for sale on the open market.
Peeples is extracting ''free'' gold from its ore inventory on a daily production schedule of 9 hours per day, 5 days per week. The first phase of Peeples' production of its ore inventory will generate Peeples' first revenue since it was acquired by HCCA. In addition to revenue generation, this first phase will result in a further concentration of ore inventory up to a ratio of 10:1, thereby reducing both time and cost of second-phase smelting operations.
Peeples will sell the ''free'' gold from its production on a monthly basis, continuing to process ''free'' gold from all of its concentrated ore inventory, which currently exceeds 500,000 tons. The revenue generated from the sale of the gold will be used for mining and general corporate expenses. As a consistent revenue stream is established, HCCA will make appropriate financial announcements.
In the second phase of production, Peeples will ship the concentrated ore to the smelter for processing the remaining gold along with other precious metals, the majority of which include the ''platinum group,'' into dore bars. ''We are delighted to report this news. With our mining operations now in production, the first phase of this two-step operation will generate immediate revenue for the company, and the second phase will build upon the first,'' said Maurice W. Furlong, chairman and president.
Hexagon Consolidated Companies of America, Inc. is a diversified business enterprise with interests in mining, real estate, health care and music publishing.
NOTE: This news release contains statements that may be considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are inherently uncertain, and the company's actual results may differ from management's expectations. Further information on potential factors that could affect the financial condition and results of operations of the company are included in the filings of the company with the Securities and Exchange Commission.
SOURCE: Hexagon Consolidated Companies of America, Inc. |
