STBY news!
Tuesday June 20, 11:11 am Eastern Time
Company Press Release
SOURCE: Stansbury Holdings Corporation
Stansbury Holdings Corporation Announces That It Has Completed its Health Risk Assessment Studies of its Dillon Operations And its Plans to Expand its Los Banos Exfoliating Plant
DENVER, June 20 /PRNewswire/ -- Stansbury Holdings Corporation (OTC Bulletin Board: STBY - news) reported today it has delivered to the regulatory authorities in Montana the report prepared for the Company by Behre Dolbear & Company, Inc., entitled Health Risk Summary Report for the Dillon, Montana, Vermiculite Mine and Plant.
As previously announced, the Company commissioned the study and report to determine health risks to its employees and the residents of the community of Dillon, from operations of its vermiculite mine and mill located in Beaverhead and Madison Counties, Montana.
In addition to the Report, the Company had Behre Dolbear prepare a Conceptual Sampling, Analysis, and Reporting Program for the Dillon Vermiculite Mine, which provides details of an eight step health risk monitoring program, and sets forth the method of implementation of those steps in
detail.
The report concludes that the health risks to the residents of the Dillon area from the operation of the vermiculite mine and mill are the equivalent of smoking one cigarette in a lifetime. The report was undertaken to address concerns raised by the recent publicity attendant the asbestos related illnesses affecting workers and residents of the Libby, Montana, vermiculite operation which was closed about 1990.
Currently, the Dillon mine and mill are undergoing various upgrades, and daily production has been steadily increasing. Mill output has exceeded the requirements of the Company's exfoliating plant in Los Banos, California, and the Company now plans on entering the market for the sale of vermiculite concentrate. Recent prices for such concentrate have been averaging $165.00 per ton.
The Company expects to sell all concentrate production in excess of the 20 tons per day required by the Los Banos facility. Production is currently approaching 30 tons per day, and is expected to reach design capacity of 100 tons per day by mid to late summer.
The Los Banos facility is currently selling its production capacity to the local horticulture market in the San Joaquin valley, at an average price of $1.65 per cubic foot, or the equivalent of $460 per ton of exfoliated product.
Plans to relocate the exfoliating plant to a larger facility, and tripling its current annual capacity, are
being implemented with a goal of having the expanded facility in operation by year's end.
This press release contains forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995. The matters covered by such forward-looking statements are
subject to known and unknown risks, uncertainties and other factors which may cause actual
results, performance or achievements of Stansbury Holdings Corporation to differ materially from
those contemplated or implied by such forward-looking statements.
Stansbury Holdings Corporation is a natural resource holding company, whose website is
www.stansburyholdings.com.
SOURCE: Stansbury Holdings Corporation |
