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ABV Gold, Inc. Finalizes Financing for Russian Operations Wednesday October 31, 6:55 pm ET
MONTREAL--(MARKET WIRE)--Oct 31, 2007 -- ABV Gold, Inc. (Other OTC:ABVG.PK - News) (Frankfurt:AB8.F - News) is pleased to update shareholders on recent developments in its Russian business activities. ADVERTISEMENT
"Our Russian business activities are key to the future of our company," reported Daniel Ryan, President of ABV Gold Inc. "Our property in Russia is in a historically significant area for gold production. Our mine first produced gold in 1842. Our project has 25.84 metric tons of reserves. A metric ton of gold is worth $25,134,874 http://www.onlygold.com/BigGold/MiniWeb/MetricTonneOfGold.asp Our intention is to fund the company this month in order to maximize gold production at our site. We have finalized a term sheet with an investor group for $10 Million USD. This term sheet will be executed by the company when the stock price reaches $.15. Management of ABV Gold Inc. has determined that the company should have a valuation of between $.15 to $.25 per share. The use proceeds will allow us to upgrade our onsite facilities including the conveyor systems, separators and crushers. This financing will give the market new valuation parameters for the company."
Mr. Ryan also commented, "Our property is near Kinross Gold which trades in Canada. They have also seen the value of being involved in gold mining in Russia. Russia is currently the sixth largest gold producer in the world, yet holds the world's second largest gold reserves (after South Africa), and production costs in Russia are substantially lower. We think a resource rich country as Russia is an excellent choice for ABV Gold Inc. Gold crossed the $800 USD per ounce barrier yesterday. The analysts at Credit Suisse are calling for gold to surpass $1000 USD per ounce in 2010 (http://www.fxstreet.com/news/forex-news/article.aspx?StoryId=173d31fd-4b3b-40ef -b177-9f3cadd69e83). ABV Gold Inc. is very well positioned in Russia to take advantage of the bull market in gold."
About ABV Gold
ABV Gold is a publicly traded, junior mining-exploration company headquartered in Montreal, Canada. The company pursues the acquisition and development of mining properties known to contain significant mineral assets, principally uranium and or gold. For additional information, please visit the corporate website at www.abvgoldinc.com.
Contact: Contact:
Daniel Ryan President dryan*abvgoldinc.com 1-514-448-2193
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Should be an interesting day ahead. This stock had made some interesting runs in the past.
Posts: 74 | From: CT | Registered: Nov 2005
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ABVG second PR today just out, read: ABV Gold, Inc. to Hold Conference Call for Shareholders
2007-11-01 13:39 ET - News Release
MONTREAL -- (MARKET WIRE) -- 11/01/07
ABV Gold, Inc. (PINKSHEETS: ABVG) (FRANKFURT: AB8) is pleased to announce a shareholder conference call for November 16th, 2007 at 4:00 P.M. EST. The call in number is 641-715-3200 and the access code is 253096#.
"We will address a number of issues in this call including share retirement, board appointments and the filing of financials. We think that these three issues are key to moving our company to the next level," said Mr. Ryan, President of ABV Gold, Inc." The filing of financials will give shareholders more transparency in regards to our progress at the corporate level. Quality board appointments are necessary for the proper execution of our business plan at our mine in Russia. Lastly, the share retirement issue has taken longer than expected as certificate need to be pulled and returned to our office for cancellation. We have an outstanding buy sell agreement with the seller of the shares and they are halfway through the process of sending us the stock. Our funding arrangements are based on the retirement of stock and we intend to see the process to completion. The quiet period for our company is over. Shareholders will be very pleased with the updates during the call."
About ABV Gold
ABV Gold is a publicly traded, junior mining exploration company headquartered in Montreal, Canada. The company pursues the acquisition and development of mining properties known to contain significant mineral assets, principally uranium and or gold. For additional information, please visit the corporate website at www.abvgoldinc.com.
Contact:
Daniel Ryan President dryan*abvgoldinc.com 1-514-448-2193
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ABVG- Overal not a bad day. 2nd highest vol. day in its' history. Expect huge things from this company as the 16th gets near IMO
Posts: 74 | From: CT | Registered: Nov 2005
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Looking good here great volume and good prospects. The two most sought after commodites today are GOLD and OIL we have one of them. Looking for a continuation today ...
Posts: 660 | From: california | Registered: Nov 2005
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1. They have a working relationship with ADK.V 2. Looking at new COO candidates to run the mining 3. They have 63 million of the shares to retire. Possible PR this week retiring the 63 million. Plus progress report on the remaining shares. 4. Web site on hold. 5. They have producing mines...we just dont know how much they are producing. 6. Financials Dec 15 possible 7. Having another CC this week maybe 8. CEO owns shares, averaged at 3.5 to 4... Didnt say how many.
Hope they give an update PR and retire the 63 million OR THIS IS GOING SUB-PENNY
Posts: 731 | From: OHIO | Registered: Jan 2006
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Is this company legit or is there reason to stay away? I'm invested in some larger gold companies and would love to sink some fun money in a penny stock in the sector. I have no idea how abvg.pk caught my attention. I started watching it a few weeks ago when it was around $0.024, but cannot find why the drop to under $0.01. It can't get much lower, and has a whole lot of upside. But that can only be realized if this thing is legit, and there is something a PR firm can actually promote. What do you guys think? Are you invested, or just observing?
Posts: 1 | Registered: Nov 2007
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