Global Platinum + Gold, Inc. Announces First Gold Production
SALT LAKE CITY, Oct. 19 /PRNewswire-FirstCall/ -- The following is being issued by Global Platinum + Gold, Inc. :
Global is pleased to announce that our refiner has validated our process to extract gold. Results from our last shipment to the refiner indicate our gold shipment was 98% pure and showed a recovery of just less than 10 ounces per 1,000 gallons of leach solution. We are very excited about this development for a number of reasons; gold is easy to work with, we can refine the gold ourselves, and produce gold bars to be sold on the spot market, which eliminates refining costs and fees. We are pursuing further gold production at this time to establish a track record of consistent results.
With respect to our platinum production, although we have reported positive results on a number of prior occasions, our results as of late have been mixed, that is, some runs had a positive recovery and others had none. Our last check from the refiner for platinum production was for $61,000 after deduction of refiners' fees and commissions. We had made changes to the process in an attempt to shorten the processing time and deliver a 99% pure product to the refiner. Clearly these innovations changed the dynamics of the process itself, but we have no reason to believe the problems encountered cannot be corrected on a timely basis.
We will continue day by day to produce both platinum and gold side by side and report the results as they become available. Please understand there is a considerable 3-4 week delay in obtaining the results from the refiner from the date of shipment. We are currently in discussion with a number of Venture Capital Groups that will lead in the near future to obtaining the necessary long term funding. With funding secured, our business plan projections are to construct a facility capable of processing 500-1000 ounces per day. We thank you for your continued support and management strongly believes Global is on the right track with this production program.
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 estimated reserves, estimated future production, and the value thereof, 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.
Global Platinum + Gold, Inc.
CONTACT: Robert J. Nielson of Global Platinum + Gold, Inc.,
+1-801-277-0744
Web site: globalplatinumonline.com |
