Global Platinum + Gold, Inc. Announces First Sale of Platinum From Hassayampa Mine
SALT LAKE CITY, Aug 7, 2001 /PRNewswire via COMTEX/ -- The following is being issued by Global Platinum +
Gold, Inc. (OTC: GPGI):
Global is pleased to announce that it has completed its first sale to a major refiner of several ounces of platinum produced
from the ore located at our Hassayampa, Arizona, mine and milling site. The platinum now produced in hand equates to
more than 8 ounces per ton of screened ore, after deducting the inquart used in the processing. This event is particularly
significant in that we were able to not only process the ore, but successfully bring it down to what is called a "platinum
sponge" that is 99.4% pure platinum. We can now do this on a regular basis, and for the first time in the Company's
history we have information to report that is consistent with our previous Press Release dated August 3, 2001. It is well
known that in the past such efforts by Global have been inconsistent or inconclusive; so we are encouraged with these
results inasmuch as our process utilizes considerable amounts of inquart (pure powdered metal). We can now produce our
own inquart and avoid the high cost of purchasing commercial inquart. This improved process is significant in that Global
will experience a positive cash flow with higher than expected gross margins.
This is an exciting time for both Global's management and its shareholders as we are now able to produce a highly
profitable product. Global anticipates additional news will be released in the very near future.
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 limitations 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. |
