CAMBRIDGE, Mass., Feb 28, 2012 /PRNewswire/ -- Markray Corp
(RVBR.PK) announced today that it obtained an initial offer from
its financial partner to purchase the outstanding shares of the
Company as well as all the rights to the options the Company has to
process additional minerals and thereby increase its production.
The terms of the offer shall be set forth in a few days.
This offer is the final result from the latest negotiations to
obtain financing to acquire the rights to process an
additional 50% of the reserves. A due diligence was conducted on
the assets contained in the stockpile as well as on the official
report concluding that the content and current value of rare earth
minerals are as follows:
|
Gold
|
2,393,600
ounces
|
$4,150,502,400
|
|
Silver
|
26,033,920
ounces
|
$859,119,360
|
|
Platinum
|
26,720
ounces
|
$43,954,400
|
The report had been made for a previous owner by the Central
Research Institute of Geological Prospecting for Base and Precious
Metals. It serves as an international consulting firm in the area
of geologic and mining works. It was founded in 1935 as the head
institute for methodological and technological support for the
use and development of resource based precious metals.
It interacts with foreign geological surveys and firms and
operates in Australia,
Algeria, Argentina, Afghanistan, Bulgaria, Bolivia, Hungary, Vietnam, Guinea, Germany, Honduras, Greece, Egypt, Iran,
Spain, Canada, Cyprus, China, Columbia, Congo, Morocco, Mozambique, Mongolia, Nepal, Nicaragua, Peru, Poland,
Syria, Slovakia, Sudan, United
States, Tanzania,
Turkey, Czech Rep, Chile, Ethiopia, etc.
It confirms that the present Technical report was made in
accordance with National Instrument NI 43-101 and Form 43-101F1
standards.
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