CAMBRIDGE, Mass., Feb. 24, 2012 /PRNewswire/ -- Markray
Corp (Pink Sheets: RVBR) announced today that it has obtained
a commitment for the financing required to acquire the right to
process an additional 50% of the reserve of gold, silver and
platinum. Consequently, it shall have the right to process 75% of
the stockpile that it is currently processing.
The company geologist has been on the site for the past weeks to
confirm the tenure of gold and rare earth minerals in a greater
area of the stockpile.
The financing was available because of the large stockpile of
reserves. The details of the terms of the plan are being worked out
and will be released early next week.
''The Company was presented with this opportunity to expand its
operations before competitors infringe on this lucrative process of
obtaining gold, silver and platinum,'' states Olga Smolnikova, president. She adds ''We shall
put our experience and technology to work.''
The reserves shall be processed by a unique modular
plant.
With this acquisition, Markray will become an important player
in the field of processing minerals from existing stockpiles.
This would bring unprecedented shareholder value for everyone
holding stock in Markray.
Especially in Russia, there are
stockpiles of tailings that were previously mined for minerals
other than gold and silver. However, few companies have turned
their attention to working these established stockpiles which
represent a great opportunity for Markray.
Furthermore, technology is now available which allows for the
recovery of gold, silver and platinum from material that was
processed using old equipment and technology.
About Markray
Markray is in the business of extracting precious metals from
stockpiles of raw material. A geological audit of its current
reserves concludes that there are the following minerals in the
stockpile currently being processed:
|
Gold:
|
2,393,600
ounces
|
|
Silver:
|
26,033,920
ounces
|
|
Platinum:
|
26,720
ounces
|
|
Iron:
|
20,800,000
tons
|
The company plans to acquire additional facilities to increase
its reserves. Each facility shall be processed by a unique modular
plant.
Contact:
Andrei Smirnoff
asmirn@newmail.ru
Forward-Looking Statements
This news release contains "forward-looking statements," as that
term is defined in Section 27A of the United States Securities Act
of 1933 and Section 21E of the Securities Exchange Act of 1934.
Statements in this press release that are not purely historical are
forward-looking statements and include any statements regarding
beliefs, plans, expectations or intentions regarding the
future.
Actual results could differ from those projected in any
forward-looking statements due to numerous factors. Such factors
include the fluctuations in the price of gold and in the event of
severe weather conditions. These forward-looking statements are
made as of the date of this news release, and the Company assumes
no obligation to update the forward-looking statements, or to
update the reasons why actual results could differ from those
projected in the forward-looking statements. Although the Company
believes that any beliefs, plans, expectations and intentions
contained in this press release are reasonable, there can be no
assurance that such beliefs, plans, expectations or intentions will
prove to be accurate.
SOURCE Markray Corp
