Mr. Charters,...
Somewhere you were waxing eloquently about processing heavy metal sands.
I'm wondering if these figures in this NR match your quoted pricelists.
FOR: GL ENERGY AND EXPLORATIONS INC.
OTC Bulletin Board SYMBOL: GEEX
OCTOBER 2, 2003 - 12:57 ET
GL Energy & Explorations, Inc: New Model for Potential
Annual Revenues
VANCOUVER, BRITISH COLUMBIA--
GL Energy & Exploration Inc.(GEEX) is pleased to provide an
update projection on the potential annual revenues.
The projection is based on current prices for Gold and other
metals rather than our original conservative pricing used in our
business model.
/T/
Example - originally Gold was priced at $300.00 per/oz,
the new model is at $375.00
/T/
The model shown is for 100% equity for the properties, GL Energy
& Exploration, Inc owns 60% of the total equity.
The company has shown three examples, the La Barca property with
a pilot plant, and both the La Barca and Duna Choapa properties
with full production plants.
/T/
La Barca La Barca Duna Choapa
Pilot Full Plant Full Plant
Tonnes/Day 1,200 7,200 7,200
Gold Grade - grams/ton 0.25 0.25 0.27
Recovery % 60% 60% 60%
Produced Oz./Day 5.796 34.776 37.55808
Rutile Grade % 2.05% 2.05% 1.63%
Recovery % 75% 75% 75%
Produced Tonnes/Day 18.45 110.70 87.75
Zircon Grade % 1.32% 1.32% 0.11%
Recovery % 75% 75% 75%
Produced Tonnes/Day 11.88 71.28 5.89
Magnetite Grade % 9.71% 9.71% 10.70%
Recovery % 75% 75% 75%
Produced Tonnes/Day 87.39 524.34 577.80
Limenite Grade % 0.29% 0.29% 0.00%
Recovery % 75% 75% - - - -
Produced Tonnes/Day 2.61 15.66 - - - -
Gold Price/Oz $ 375.00
Rutile Price/Ton $ 2000.00
Zircon Price/Ton $ 545.00
Magnetite Price/Ton $ 35.00
Limenite Price/Ton $ 83.00
Annual Revenues
Gold $ 793,328.00 $ 4,759,965.00 $ 5,140,762.00
Rutile $13,468,500.00 $80,811,000.00 $64,057,500.00
Zircon $ 2,363,229.00 $14,179,374.00 $ 1,170,873.00
Magnetite $ 1,116,407.00 $ 6,698,444.00 $ 7,381,395.00
/T/
Certain of these statements contained in the press release may be
deemed forward-looking statements, and factors that could actual
results to differ materially from these statements and matter are
risks that other factor detailed from time to time, in the
Company's reports with Securities and Exchanges Commissions,
including, but not limited to, the Company's Annual Report on
Form 10-K and its Quarterly Form 10-Q.
-30-
FOR FURTHER INFORMATION PLEASE CONTACT:
GL Energy & Exploration Inc.
Bob Munro
(250) 377-3918 |
