Having not invested in small companies, especially mining and gold companies in a few years, for small time operations, do either of these (MTNO or IAMR) have any industry credibility? IAMR appears to be a newly formed group that took over the stock shell to get a place in the public market as I understand it so it likely is not well known, formerly Sovereign before going public. MTNO appears to be established but wondered if either of these were associated with other entities pro or con in the past?
October 29, 2001 08:29
MTN Holdings, Inc. Announces Signing of Letter of Intent to Refine Precious Metals for InterAmerican Resources, Inc.
NEW YORK, Oct. 29 /PRNewswire/ -- MTN Holdings, Inc. (OTC Bulletin Board: MTNO), a Nevada corporation, announced today the signing of a letter of intent to refine the precious metals mined by InterAmerican Resources, Inc (OTC Bulletin Board: IAMR) from its recently acquired Sovereign Resources, Inc. The refining will be done by MTNO's subsidiary DS&E Metals, Inc., a gold refining company.
Mr. M. Spiegel, CEO of MTNO, stated, "We are pleased to be entering into a multi-year agreement with InterAmerican Resources to refine their precious metals mined in Washington State. This agreement will provide us access to a new source of income, the mining industry, which has not been tapped by DS&E and its predecessors. DS&E had over $18 million in revenues in year 2000, based on unaudited financial statements of the company. The Company expects the annual audit of DS&E to be completed on or about December 15, 2001."
The President of InterAmerican Resources Inc., Allan Smith, added, "We expect commercially productive levels of gold and silver by-products to be confirmed by the 3000 foot diamond drilling and grab samples on our recently acquired Washington State properties. This letter of intent indicates our willingness to move forward from the exploration phase to production."
The press release contains forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Expression of future goals and similar expressions reflecting something other than historical fact involve risks and uncertainties. The actual results the Companies achieve may differ materially from any forward-looking statements due to such risks and uncertainties.
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SOURCE MTN Holdings, Inc.
/CONTACT: M. Spiegel of MTNO, +1-212-594-5111, or
mspiegel@mtnholdings.com; or Allan Smith of IAMR, +1-305-438-0020, or
interamericanresources@yahoo.com/
(MTNO IAMR) |
