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Centurion Gold Holdings, Inc. (Centurion) is a South African mining and mineral processing company with several different extraction subsidiaries, which mine gold. The company’s primary focus is on its gold mining and smelting activities, which promise to provide substantial revenues for the bottom line over a protracted period of time.. Centurion owns all the rights to the mining sites it operates and has set itself up for long-term recovery and extraction activities. Based on geological surveys, claims filed, agreements signed and operating plans put into effect, Centurion will be taking gold out of the ground for the next 15 to 20 years. The company’s gold mining operation is well under way and is set to process ore from the ground to the finished smelted product. As the mining activities accelerate, Centurion keeps investing in additional processing facilities. Centurion expects to generate roughly $5 million a year in the first two years of operation and increasing over the life of the mine. Recoverable proven and estimated gold, is valued at $9500 per kg or $30 million based on the current price of metal. A fair valuation of the mine based on the SAMREC CODE for reporting of mineral resources and mineral reserves and the principles applied by the centre for Applied Mining and Exploration Geology of the University of the Witwatersrand would be between 5% and 10% of the gold reserves. The first phase of the gold production operation has commenced. It consists of a clean-up of high-grade material. This phase will generate about 8kg of gold per month or revenues of $76,000 per month The next phase, the recycling of ore dumps, has been on going. The completion of this phase will take two to three years and yield 8 to of kg of gold and revenues of $76,000 to $96,000 at the current price of gold. The third and final production phase, has stopped, and will commence once the mine shaft has been refurbished and will last fifteen to twenty years and consists of underground mining. It will generate 50-60kg of gold per month or $475,000 to $570,000 per month. The gold recovery plant is being upgraded at one of the mining sites with a capacity of producing 60kg of gold per month. With this plant which will be fully operational ,in three months Centurion should be able to add additional revenues to its bottom line.The upgrade is also including a new biological leach method which will vastly improve recoveries of the gold and has no negative impact on the environment. Based on its current business and operating plans, Centurion is poised to be a lucrative operation with very good long-term prospects, even if the price of gold should begin to weaken.New technology will be installed at the upgraded plant to allow 24 hour live crossings to the working mine on the internet as well as production figures daily against set budgets. SEC Filings Officers: Arthur Johnson - President and Treasurer Faan Verkuil - Secretary and Vice President After the acquisition the directors will be as follows: Directors: Arthur Johnson and Faan Verkuil Gold mining and extraction operations on the Elandshoogte Mine in the Sabie District of Mapumalanga Province, South Africa | ||||||||||||||
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