Read and weep, disbelievers!!!(PR NEWSWIRE) GLOBAL PLATINUM + GOLD, INC. Receives Results of Shipment to
GLOBAL PLATINUM + GOLD, INC. Receives Results of Shipment to Sabin Metals
Corporation
SALT LAKE CITY, May 24 /PRNewswire/ -- The following is being issued by
Global Platinum + Gold, Inc.:
In a PRNEWSWIRE news release made on May 10, 1999, GLOBAL PLATINUM + GOLD,
INC. announced we had made a shipment of 2-kilograms anode slime to Sabin
Metals Corporation on April 29, 1999. In that press release the statement was
made, "By our analysis, the value of the precious metal content is the
equivalent of $597,000 per ton of anode slime based on the current precious
metals market. Actual results from Sabin Metals shall be made public at such
time as they become available."
On Thursday May 20th Global Platinum did receive those results from Sabin
Metals Corporation. Those results are as follows:
Total sample weight received by Sabin Metals = 2.0064 kg
Total sample weight (dry) = 1.98634 kg = 1,986.34 grams
METAL % BY GRAMS TROY MARKET VALUE / TON
WEIGHT OUNCES
GOLD 1.365 27.11 0.872 $274 * 399 ozt = $109,326
PLATINUM 1.205 23.94 0.770 $354 * 352 ozt = $124,602
PALLADIUM 1.355 26.91 0.865 $344 * 395 ozt = $136,021
RHODIUM 0.965 19.17 0.616 $820 * 282 ozt = $231,240
TOTAL VALUE PER TON OF ANODE SLIME = $601,189
Management is very pleased by these results. In all there is a total of
less than 1 % difference between our assay amount and the amounts recovered by
Sabin Metals. These results also confirm the high quality of assay work done
by Global.
We continue to ramp up production and additionally we have scheduled
modifications to our furnaces, which will increase capacity by 40 percent at
minimal cost.
Our R & D has been completed on the leach / precipitation method mentioned
in earlier press releases. Pilot plant tests on this new leach will begin on
May 24. A successful leach would eliminate many time-consuming steps that are
required in the preparation of anode slimes. Additionally a successful leach
would, with minor modifications to our plant, allow us the capability of
processing between 120 and 150 tons of ore per day.
Our brochure has been completed and can be obtained by request at
d.denoble@worldnet.att.com. Additional information can be found on our
website, www.globalplatinum.com.
This communication to shareholders and the public contains 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 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 front
those anticipated in such statements.
SOURCE Global Platinum + Gold, Inc.
-0- 05/24/99
/CONTACT: Dennis DeNoble of Global Platinum + Gold, Inc., 623-847-9037/
/Web site: globalplatinum.com
(GPGI)
CO: Global Platinum + Gold, Inc.; Sabin Metals Corporation
ST: Utah
IN: MNG
SU: JVN
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