OTCBB: GPGI Global has been actively making preparations for the delivery of the small turnkey production facility referred to
therein. Delay in delivery of the plant has been occasioned by significant changes in design of the plant, calculated primarily to allow for a greater flow rate.
Construction of the facility is underway and Globals best estimate for delivery is within three weeks from date. Once onsite, the plant will be capable of processing
the precipitate from up to 40 tons of ore per day, as opposed to less than 1 ton per day under the original design. Production can commence almost immediately
once the plant is delivered.
On a more disappointing note, Global has been unable to make its required filing under Form 10SB with the Securities and Exchange Commission, and will therefore
be de-listed from the OTCBB on or about December 2, 1999. Global will file as soon as the Company?s auditors complete their examination of the Company?s
financial statements for its year ended May 31, 1999 During this interim period, or the time commencing on or about December 2, 1999 through the filing and
acceptance by the SEC of the Company?s Form 10SB, the Company?s common stock will be quoted and traded on the National Quotation Bureau ?Pink Sheets?
electronic trading system. Shareholders will need to call their brokers to receive quote and volume information and shareholders will no longer be able to retrieve
routine information about Globals trading activity from off the internet. Once the filing has been made, it is estimated that the Company will be returned to the
OTCBB within 2-3 months. Ultimately it is the Company?s responsibility to make it?s filings on a timely basis, but needless to say we will be changing accounting
firms.
The Company?s Aquifer Protection Permit Application has been filed with the Arizona Department of Environmental Quality and we have already received our first
comments back.
GPGI Progress Report
November 30, 1999
Since our last Press Release dated October 7, 1999
This communication to shareholders and the public contains certain forward-looking statements. Actual results may differ materially from those indicated
by such statements. All statements, other than statements of historical fact, included herein, including, without limitation statements regarding future
production, are forward looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be
accurate and actual results and future events could differ materially from those anticipated in such statements.
For information contact: Robert J. Nielson 801-277-0744
GPGI Progress Report
November 30, 1999
Since our last Press Release dated October 7, 1999 |
