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Gold/Mining/Energy : Atacama Minerals
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To: kingfisher who wrote (62)5/26/1998 10:49:00 PM
From: kingfisher   of 105
 
Update on Atacama.
I have received the 1997 annual report and it was mentioned that June 1 1998 has been targeted to complete all of the remaining debt and equity placements.
The project has been upgraded to increase production from initial design from 1000 tons iodine up to 1500 metric tons annually and sodium sulphate production will be increased to 300,000 metric tons a year up from 150,000 tons.
The report mentions that the projected 20 year lifespan of production will probably be increased with the discovery of new reserves.
The plant is state of the art designed to have yield recoveries higher than comparable facilities in Chile.
As of January 1 1998 Atacama had US$16million for project development
Plant will be producing by 1999.
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