I was just wondering if anyone knew the conversion rate on this right now. It was 10000 PAIMPR to 1 PAIM last time i checked. Does anyone know if it is still the same?
Posted by bobcat88 on :
Should be the same, for 5 years if I'm understanding it corectly.
Posted by buzzygresham on :
there were three different conversion rates over the period of 5 years. it was 10000 to 1. then it was something like 1000 to 1, then 100 to 1 and then 1 for 1. it was something like that, i just cant remember the time frame they all fell in. the 10000 to 1 ended after the first year or something. i cant remember when the divy was given out is the main prob
Posted by PCola77 on :
buzzy, I am prety sure the breaks were all on even years, so since it's only been a few months I'm 99% sure we're still at the 10,000:1 conversion. I'll go through my stuff and find you the real conversions in a bit.
Posted by PCola77 on :
Current to March 30, 2007 10,000 1 Common Share March 31, 2007 - March 30, 2008 5,000 1 Common Share March 31, 2008 - March 30, 2009 2,500 1 Common Share March 31, 2009 - March 30, 2010 1,250 1 Common Share March 31, 2010 - March 30, 2011 625 1 Common Share March 31, 2011 and after 500 1 Common Share
Posted by bobcat88 on :
PAIM -- Pearl Asian Mining Industries Inc. Com ($0.001)(New)
COMPANY NEWS AND PRESS RELEASES FROM OTHER SOURCES:
Pearl Asian Mining Industries Reports that it has Entered into a Cooperation Agreement with China's Biggest Gold Refining/Smelting Company
A Safety and Security at Project Cagayan de Oro Further Strengthened as Peace and Order Agreement is Reached with Local Leaders of Surrounding Areas
MANILA, Philippines, Nov 16, 2006 (BUSINESS WIRE) -- PEARL ASIAN MINING INDUSTRIES, INC. (OTC:PAIM) reported today that it has entered into a cooperative arrangement with China National Gold Corporation (CNGC), which owns and operates the largest gold smelting plant/refinery in China. The Memorandum of Understanding (MOU) was signed last November 11th, 2006 at CNGC's Headquarters in Beijing, China by E. Pearl Asian, Founder/Chairman of PAIM, and Mr. Xie Yuanyuan, General Manager of the CNGC International Trading Company. The MOU outlines the forging of a synergistic working alliance between PAIM and CNGC resulting in a mutually beneficial business partnership, which includes smelting & refining of Pearl Asian's gold bullion to at least 99999% purity and the design of processing equipment for PAIM's various Philippine mining prospects, among others. "This MOU is another step taken by Pearl Asian Mining Industries to ensure that its core competencies are enhanced, particularly in gold processing and refining," stated E. Pearl Asian. "Pearl Asian is currently evaluating at least five (5) new small-scale mining areas and at least two (2) on-going large-scale mining concerns, and not to mention XYZ mine which is still under right-of-way negotiations, and this list of mining prospects continues to grow by the day. With the company's aggressive thrust to explore and acquire new mining projects, all of which will require processing equipment, one of the main benefits from this new agreement is the facilitation of design and acquisition of the necessary processing machinery, at optimum cost considering the low manufacturing, design, freight and other associated costs of importing from China. CNGC has been proven to be a trusted supplier of efficient gold processing equipment, as evidenced by its continuing business relations with more than 40 firms outside China, including some of the biggest mining companies in Russia and Eastern Europe," E. Pearl Asian added.
In another development, Pearl Asian Mining also announces the strengthening of security and personnel safety at Project Cagayan de Oro after a discussion with local leaders resulted in a Peace and Order Covenant. The said meeting was presided by E. Pearl Asian at Hotel Koresco, Cagayan de Oro City, last November 8th, 2006, and present were three sultans or muslim leaders, six leaders of indigenous tribal communities, and other Pearl Asian Mining officers and staff. "With this covenant, we expect to go full-speed with our target to produce revenues within this quarter as the safety and security of our personnel are ensured especially along the roads leading to the minesite," stated Bro. Manny Tecson, EVP-Community Relations Officer.
FORWARD STATEMENTS:
Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements in this release include statements regarding the Company's projections regarding gold production in future periods. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties such as: risks relating to estimates of reserves, mineral deposits and production costs; mining and development risks; the risk of commodity price fluctuations; political and regulatory risks; risks of obtaining required operating permits and other risks and uncertainties. Penny Stocks are very highly speculative and may be unsuitable for all but very aggressive investors. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE: Pearl Asian Mining Industries Inc. - Philippines
Posted by buzzygresham on :
thanks PCOLA. i appreciate it. i just couldnt remember the details. and actually i cant remember exactly when the divy was given so your help is much appreciated
Posted by superman7 on :
PAIM .0012 resistance is breaking on the news out!
Posted by superman7 on :
level 2 is looking really thin right now...this could run!
Posted by superman7 on :
only 1 left on the ask now
.001(4) by .0011(1)
Posted by superman7 on :
no 5 mms on the bid and still only 1 on the ask
.001(5) by .0011(1)
Posted by superman7 on :
very nice volume in pre-market...already 11 mil in volume...all buys
.001(4) by ..0011(1)
Posted by superman7 on :
big buys starting to roll in
already 30 mil in volume in the 1st minute..all buys!!..we nee to get MM CLYP of the ask he is the main MM
Posted by superman7 on :
PAIM...now only 2 left on the ask!
Posted by superman7 on :
CLYP just moved to .0015...only 1 left on the ask at .0011
Posted by PCola77 on :
superman, you are one crazy dude.
Posted by superman7 on :
PC, thanks bro lol
i just think that there is some money on the table on this one
Posted by superman7 on :
U/T into close...0011(1) by .0012(3)...could be nice for next week!
Posted by superman7 on :
gettig nice volume out of the gate!
Posted by BuckyBarnes on :
Is there any news anticipated from PAIM this week?
Posted by Duncan Idaho on :
PAIM needs to scale up that gold mine.
They need to dig 100s of tons per day.
They r still doing research.
Posted by unix555 on :
Up ! Bid .0013, ask .0014
Posted by Guy Tough on :
Look at PAIM today! Rising fast on low volume - did the MM's finally let her go? Somebody must have some inside info...
Posted by PCola77 on :
Huh? "Rising fast on low volume"? It's up 1 tick, 2 at its peak.
I'm in this, but that's a pathetic pump attempt.
Posted by BuckyBarnes on :
Does anyone have an understanding from PAIM IR about when quarterly financial results and finacial statements are planned for release? If such has already happened, I missed it and would be grateful for someone to point out a link or publication of the current financials. TIA
Posted by Guy Tough on :
Double post
Posted by PCola77 on :
LOL, I'm the dumbass, when you're the one claiming one tick is a "fast rise", that's a good one.
quote:Originally posted by Guy Tough:
quote:Originally posted by PCola77: Huh? "Rising fast on low volume"? It's up 1 tick, 2 at its peak.
I'm in this, but that's a pathetic pump attempt.
I'm not pumping dumbass,just excited.Because PAIM has been sitting between .0010 and .0012 for a month straight now, a .0015 close is pretty fast.
Posted by MoneyMoneyMoney on :
Alright Gentlemen (in particular Guy Tough) we can be constructive without the name calling...
Why give the time to this dog. this company is a big scam stay away.
Posted by Guy Tough on :
PCola77, please accept my apology for the outburst on my post. It was uncalled for , and well ,if you want to call me a pumper go ahead, I wont let it bother me.I'm not trying to pump or mislead anyone,I just get very hyped up wwhen I see movement in a sideways stock. Best wishes.
Posted by BuckyBarnes on :
PAIM (.0012) Issues an Update Report on Its Gold Production, Gold Vanity Card, and Shares the Spirit and Joy of Giving This Holiday Season to the Host Communities
Business Wire "US Press Releases "
MANILA, Philippines--(BUSINESS WIRE)--
Pearl Asian Mining Industries: Stock SYMBOLS: U.S.A. (OTC:PAIM): German (GER:R1Z) and (FWB:R1Z) issues the following update on its Philippine operations.
The Gold Team of Pearl Asian & its manpower complement of Higaonon tribesmen continue to work hard and exert its best efforts to produce up to 10 metric tons of gold concentrates at Project Cagayan de Oro. These gold concentrates will be sent to China National Gold Corp. (CNGC) for its smelting and final refining to 99999% purity, at most. In addition, Pearl Asian has also programmed for a substantial percentage of its gold sales to be sourced from its gold-trading operation, wherein the company will buy gold from the gold-rich areas in the country.
Pearl Asian Mining had encountered various factors that have caused actual results to differ materially from those anticipated results. These include risks and uncertainties such as: mining and development risks; the risk of transporting the commodity from the mine site; security, political and regulatory risks as well as the effect of the weather conditions. However, Pearl Asian is still on course to serve the requirements of its buyer, WIET LLC. As per the former's Memorandum of Agreement to sell a minimum of 10 metric tons of pure gold to the latter. The 10 Metric tons of pure gold having at least a 99999% purity will be worth an estimated gross value of more than USD $192 Million based on the current gold market price of at least $600.00 USD per ounce (10 metric tons=10,000,000 grams=321,543 ounces). In particular, Pearl Asian plans to make its first delivery by the 1st quarter of 2007. This delivery schedule also holds true for PAIM's Gold Vanity Card (50 mg weight of 99999% purity). CNGC has advised its willingness to assist Pearl Asian in its development and production of the Vanity Gold Card in partnership with Pearl Asian Mining Industries, Inc. The selling price of each app. 50 mg weight of card is estimated to be worth at least $2,000.00 plus shipping and handling. The first 100 serial numbers and special serial number combinations sold as limited edition will bear a higher price tag.
On the other hand, Pearl Asian continues to bring good tidings and cheer this Holiday Season in the area that covers 4 small remote communities adjacent to the Binasan gold mine site. Pearl Asian is doing the finishing touches in the construction of its very own Community Hospital & Healing Centers located near the mine site. As Pearl Asian is bringing in a USA Team of Medical Volunteers composed of 2 doctors and 2 Nurses on Dec. 10th to begin its first initial medical service-outreach program for the people in the mine site and its nearby communities. The Meditation Center, the Medical Missionaries Quarters and Learning Center are in its final stages of construction together with the development of additional 20 kms of access roads from the main highway of Iligan City to the mine site. All of these were made possible through the generosity of several very special investors: ANANYMOUS Foundation, LLG Foundation, Musich Family Trust, GPI Family Trust & Bosaw Family, as well as several shareholders. Pearl Asian wishes to thank all these US Medical Volunteers and Missionaries together with the Pearl Asian Gold Team and the KAHIB Members in making this 2006 Spirit of Giving a success!
FORWARD STATEMENTS:
Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements in this release include statements regarding the Company's projections regarding gold production in future periods. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties such as: risks relating to estimates of reserves, mineral deposits and production costs; mining and development risks; the risk of commodity price fluctuations; political and regulatory risks; risks of obtaining required operating permits and other risks and uncertainties. Penny Stocks are very highly speculative and may be unsuitable for all but very aggressive investors. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Source: Pearl Asian Mining Industries Inc. - Philippines
Posted by Chart walker on :
Stochastic did it's little reset and is now looking to go positive again it looks like ~ The old support of .0010 is now .0012, looking good still...
Should be an interesting week IMO ~
GL Board!
Posted by mad tony on :
Philippine mudslide toll climbs to 1,086 dead or missing Mon Dec 4, 10:18 PM ET
LEGASPI, Philippines (AFP) - More than 1,080 people are either dead or missing after rivers of mud and volcanic ash triggered by a typhoon swamped villages in the Philippines, civil defence officials said.
In its morning update Tuesday, civil defence officials confirmed 450 dead from the mudslides around Mayon volcano in the eastern region of Bicol and a further 636 missing, a total of 1,086.
National Disaster Coordinating Centre executive officer Glenn Rabonza said more than 1.14 million people had been affected by the disaster.
It listed a further 599 people as missing in the rest of the Bicol region.
Rabonza said more than one million people had been affected by the disaster, with damage to property alone estimated at about 274 million pesos (5.53 million dollars).
The deadly mudslides were triggered by torrential rains from super typhoon Durian, which mixed with volcanic ash on the slopes of the Mayon volcano.
President Gloria Arroyo declared a "state of national calamity" and authorized the immediate release of a billion pesos (20 million US dollars) to rehabilitate affected areas.
Local Red Cross official Benjamin Delfin told AFP: "We are receiving donations from international organizations at this point as we continue to estimate the cost of this disaster.
"What we need now are medicines, food and items such as blankets, water and plastic sheeting for those who lost their homes."
The NDCC said humanitarian aid was expected from Japan, Indonesia, Malaysia and the United States, while cash was being sent from the United Nations and the governments of Canada and Australia.
PAIM (.0007) Reports on Quantity of Gold Produced, Status of Mine Site, and "Gift of Hope and Healing" by the Medical Mission Volunteers
Business Wire "US Press Releases "
MANILA, Philippines--(BUSINESS WIRE)--
Pearl Asian Mining Industries, Inc., with Stock SYMBOLS: U.S.A. (OTC:PAIM); GERMANY (GER:R1Z) (FWB:R1Z) provides a year-end 2006 update on its Philippine operations. Jason Piamonte, Chief Executive Officer, issues the following report.
A total of 84 grams of gold have been extracted from about 6 metric tons of ore processed at Project Cagayan de Oro (CDO) during the start-up and commissioning phase, excluding ore processed during the trial run, which has been reported previously. The Gold Team expects substantially higher production/capacity utilization rates and gold output once normal production run commences in 2007.
An area covering 5 hectares have been explored, out of the total 20 hectares of the Project CDO mining claim, and the Gold Team is evaluating several other adjacent gold mining claims for possible future development.
The recent typhoons, though not directly hitting CDO, have adversely affected operations by washing out ore stockpiles, covering the rich gold veins and damaging portions of the roads, but the Gold Team has done corrective actions to mitigate extent of damage, i.e., rehabilitation of stockpiles and roads affected.
Project CDO is now ready for full operations, as the mill plant is now fully secured with barbed wire fence and security detail composed of PAIM-employed internal security and security men from the Higaonon tribe manning the perimeter area. The Whispering Hope Healing Center/Clinic, Health Professionals' Living Quarters, Chapel, and the roads have all been completed, way ahead of the medical mission's "Gift of Healing and Hope" last December 14th-16th.
The Pearl Asian Medical Mission composed of committed hard working volunteers: Dr. Sean Wormuth, Sandra Hoskins-RN and Julieta Ludovico-RN, were flown in from the USA by Pearl Asian and initially given a tour of the mine site. They were ably assisted by local health professionals from Iligan City, Lanao Del Norte headed by Dr. Villarin, Head of the Minister of Health, 3 other local doctors, a local nurse, several other health workers and volunteers. The 3-day mission was done at the Whispering Hope Healing Center and then at Rogongon's LLG Foundation Health Center. A total of more than 550 indigent native Indigenous Filipinos were treated of their illnesses and ailments. Pearl Asian wishes to convey its heartfelt gratitude for the selfless efforts of all volunteers and all those who have assisted in making this successful medical mission a reality.
Pearl Asian is committed to improving the lives and welfare of its host communities through its Community Relations Division headed by Bro. Manny Tecson, President/COO of PAIM's Mindanao Gold Projects and shall continue its outreach programs in the years to come with the help of its valued and generous USA Investors.
Pearl Asian looks forward to continuing its gains on to 2007, under the leadership of Chairman/Founder e. Pearl Asian. A Special commendation to the members of the PAIM Gold Team: Jason Piamonte, Randy Villanueva, Manny Tecson, Arnel Morilla, Gary Gotanco, Rick Bernardo, Ariel Caleon, Maria Zonnik, Abby Dormitorio, Mabel Quinto, Elvis Hidalgo, Cesar Rosales, Jonathan Mercado, Regie Selvano, Mike Penalosa, Rochelle Laylay, Andy Cacho, George Carpio, Rene Bravo, Erwin Bravo, Dennis Bravo, Gilbert Jaca, Albert, Arthur, the PAIM Security Forces led by MsSgt. Edward Madrid and Commander Mario Guillermo together with the KAHIB Indigenous People led by Datu(Chieftain Junie) and the 100+ members of the Higaonon mine workers.
FORWARD STATEMENTS:
Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements in this release include statements regarding the Company's projections regarding gold production in future periods. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties such as: risks relating to estimates of reserves, mineral deposits and production costs; mining and development risks; the risk of commodity price fluctuations; political and regulatory risks; risks of obtaining required operating permits and other risks and uncertainties. Penny Stocks are very highly speculative and may be unsuitable for all but very aggressive investors. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Source: Pearl Asian Mining Industries Inc. - Philip
Posted by KP on :
this is good news
Posted by eddy on :
1
Posted by BuckyBarnes on :
PAIM (.0006) Shareholders to Sell Their Oil-Related Assets of Pearl Asian Mining to Philippines Gold Mining Corp. (PGMC)
Business Wire "US Press Releases "
MANILA, Philippines--(BUSINESS WIRE)--
Today Pearl Asian Mining Industries, Inc., with stock symbols: U.S.A. (OTC: PAIM); GERMANY (GER: R1Z) (FWB: R1Z), announced that its shareholders will sell all of PAIM's Oil and Energy-related assets to Philippines Gold Mining Corp. (OTC: PGMC) so that PAIM's shareholders will receive 1 share of PGMC for every 100 shares held in PAIM on the record date of February 18, 2007. The shares of PGMC will not be registered with the SEC and therefore will bear a restrictive legend and must be held for at least 1 year. PAIM will ask NASDAQ to set an X-dividend date.
As part of this transaction PGMC will be reincorporating to Wyoming and changing its name to Philippines Royal Oil and Alternative Energy Co., Inc.
Heeding the call of President George W. Bush in his State of the Union address yesterday to cut the country's gasoline consumption by 20% in 10 years and its replacement by alternative fuels such as ethanol and biodiesel, PGMC shall be reconstituted and renamed into Philippines Royal Oil & Alternative Energy Co., Inc. starting with its re-incorporation in the State of Wyoming. Engineer Anthony Val Gary B. Gotanco, MBA, currently Pearl Asian's (PAIM) VP - Business Development and IRO, has been promoted and appointed to head the new company as its President-CEO. Engineer Gotanco, a University of the Philippines Chemical Engineer Graduate, and the Board Top Notcher having an MBA degree, has had more than 12 years of experience handling sales and marketing, logistics, and business research in the petroleum and petrochemical industries.
Pearl Asian (PAIM) has already gone into preliminary oil exploration in an area in the Philippines known to have substantial oil and coal reserves, recently entered into an agreement with a landowner in the Island of Negros to conduct exploration for oil and coal. In early January 2007, Engineer Gotanco accompanied a team of Pearl Asian Geologists in conducting an ocular inspection and oil sampling in the area. The Island of Negros, aside from being rich in various minerals, is the heart of the country's sugar industry, with thousands of hectares of sugarcane fields. This island is also one of the breeding grounds for the emerging bioethanol industry in the country, as sugarcane is used as a raw material for bioethanol production. Last January 12th, Philippine President Gloria Macapagal Arroyo signed into law Republic Act 9367, or the "Biofuels Act of 2006," which mandates the use of biofuels, i.e. bioethanol and biodiesel, as a measure to develop and utilize indigenous renewable and sustainably sourced clean energy sources. Pearl Asian intends to avail of incentives for companies engaged in production and development of alternative fuels as prescribed in the said law.
Meanwhile, Pearl Asian (PAIM) CEO Jason Piamonte reports on the status of the company's mining and community relations activities. Project Cagayan de Oro (CDO) produced the past week another 80 grams of gold, and it is hoped that the initial target production of 1 kilogram of gold a week will be achieved within the first quarter of 2007. Chief Civil Engineer Michael Penalosa has commenced construction of a four-classroom schoolhouse near the Whispering Hope Healing Center with expected completion within a month and acceptance of its first batch of elementary school pupils by June, the start of the school year. Finally, aggressive exploration activities for new mine sites are underway, with five potential mine prospects currently undergoing preliminary exploration and initial feasibility study. "We hope to open for immediate operation at least one abandoned mine prospect within the first quarter, as well," stated CEO Piamonte.
Forward-Looking Statements:
Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements in this release include statements regarding the Company's projections regarding gold production in future periods. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties such as: risks relating to estimates of reserves, mineral deposits and production costs; mining and development risks; the risk of commodity price fluctuations; political and regulatory risks; risks of obtaining required operating permits and other risks and uncertainties. Penny Stocks are very highly speculative and may be unsuitable for all but very aggressive investors. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Source: Pearl Asian Mining Industries Inc.
Posted by BuckyBarnes on :
PAIM (.0007) to Start Diamond Core Drilling on Binasan Gold Project-Operation Cagayan De Oro
Business Wire "US Press Releases "
MANILA, Philippines--(BUSINESS WIRE)--
Pearl Asian Mining Industries, Inc. with Stock SYMBOLS: U.S.A. (OTC:PAIM); Germany (XETRA:R1Z) and (Frankfurt:R1Z) announces that it is about to start diamond core drilling on Binasan Gold Project-Operation Cagayan de Oro (CDO). With the imminent end to a particularly severe 6-month wet season in the Philippines and the start of the dry season fast approaching, PAIM's Chief Geologist Regino Selvano reports that he is currently reviewing proposals from 3 companies specializing in diamond drilling for the Operation CDO - Binasan Gold Project as the next two months would be the ideal time to start diamond drilling activities. "Up to the present time, exploration activities involved sampling and geological mapping covering only 10 hectares (24 Acres) of the total 20 hectare (49 Acre) Binasan Gold Claim. We are targeting to start diamond drilling by end-February to early March 2007, to cover the entire 20-hectare (49 Acres) coverage area," states Chief Geologist Selvano.
A core drilling campaign is an important part of the overall geological exploration survey of any mineral deposit which assists one to gain a better insight to the geological structure and deposit type of an ore body. It will also be possible to establish quantitative and qualitative parameters of the gold deposits that may be present in the area by accurate sampling of the borehole cores retrieved during the drilling program. It is therefore essential that representative core samples be recovered. The drilling contractor is expected to perform the drilling and extraction work of continuous rock cores, according to the specifications detailed by Chief Geologist Selvano.
The exploration area in Binasan Mine Site, Iligan City, is host to the Himalyan Formation, which consists of metamorphic rock i.e. schist metamorphic grade from nearly undeformed to totally schistose. Continuous diamond core drilling using the wireline system is recommended. To reduce losses, at least double tube core barrels shall be employed in the exploration drill holes. In zones of soft rock formations, heavily fractured rock or clay altered rock formation, it is recommended to use triple tube split core barrels. In all cases, water flushing and cooling systems are to be employed. For the exploratory drillholes consisting of ten (10) boreholes, initial subsurface drill meterages of at least 1,000-meters with an average depth of 100 meters per borehole will be drilled. These will be located and marked in the field at the Binasan prospect by the newly hired Site Geologist Bartolome Apuan, who has had more than 15 years' field experience in various mine sites.
Detailed records of the drilling progress will be kept by the contractor in a daily log giving information on all particulars of the drilling, and reported to Pearl Asian. Results of the drilling activity will then be analyzed, using 3-Dimensional Imaging Software to obtain an actual orientation of the ore body.
Meanwhile, aggressive exploration for new mine projects is in full swing, to ensure continued good revenue prospects for the company. Five (5) abandoned mines are currently being evaluated by a Team headed by VP-Business Dev. & IRO Gary Gotanco. Documentary evaluation has been completed on these, and ocular inspection/ore sampling has been done on one very promising mine site by Engineer Gotanco accompanied by Chief Geologist Selvano and newly hired Field Geologist Arlene Aguila. Ocular inspections are scheduled on the other prospects in the next few weeks as well. Once the initial feasibility report has been completed, projects will then be endorsed to the Detailed Exploration Team headed by VP-COO Ricardo Bernardo. "In addition to the five mines being studied, new joint venture proposals are being accepted, at a rate of at least 3 projects a week, which just shows the huge untapped mining potential in the Philippines," adds Engineer Gotanco.
FORWARD STATEMENTS:
Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements in this release include statements regarding the Company's projections regarding gold production in future periods. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties such as: risks relating to estimates of reserves, mineral deposits and production costs; mining and development risks; the risk of commodity price fluctuations; political and regulatory risks; risks of obtaining required operating permits and other risks and uncertainties. Penny Stocks are very highly speculative and may be unsuitable for all but very aggressive investors. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Source: Pearl Asian Mining Industries Inc.
Posted by shrimant on :
Anyone holding onto PAIM? was hoping for it to close at 0.0007 but the last minute it went down back to 0.0006...
Posted by BuckyBarnes on :
312 Grams (10 Troy Ounces) Produced for the Month of January 2007, With Total Gold Inventory Now at 396 Grams (13 Ounces), Pearl Asian Mining Industries, Inc. Reports Pearl Asian Mining Industries, Inc. with Stock SYMBOLS: U.S.A. (OTC:PAIM); Germany (XETRA:R1Z) and (Frankfurt:R1Z) provides the following production report for its Binasan Gold Project - Operation Cagayan de Oro (CDO). For the first month of commercial operations in January 2007 covering just 26 operating days, Pearl Asian produced a total of 312 grams (10 Troy Ounces, with 31.1 grams in an ounce) of gold valued at about $6,400. Pearl Asian considers this to be a substantial achievement, taking into account that most gold mining companies take more than three years of exploration and development prior to its first gold production, whereas Pearl Asian was able to achieve its first commercially produced gold just 7 months after start of exploration & development. President/COO for Mindanao Operations & CRO Manolo Tecson reports: "Total Pearl Asian gold inventory is now at 396 grams (13 ounces) valued at $8,150. As we need to build substantial gold inventory of at least 25 kilograms minimum before we make our first gold delivery to WIET, we are currently implementing initiatives to substantially increase gold production in order to achieve our initial target production of 1 kilogram (32 Ounces) per week valued at $20,579 by end March 2007, and increase it further afterwards."
The activities to substantially increase gold production consist of several measures to be implemented by mine personnel. To enhance effectivity of the hydraulicking method used to expose gold ore bodies, water flow rates will be increased up to double the current rates. New channels will be excavated increasing the surface area of water flow. A new dam will be constructed to ensure a continuous supply of water to the hydraulicking activity. Construction of new sluice boxes are also being done, each having a total area of about 30 square feet. These sluice boxes entrap gold particles for harvesting, to be fed to the gold processing equipment. Finally, as a result of the surface mapping activities by PAIM's geological team, there is a very good chance that another hydraulicking trench will be developed within the next month. "It is also worth noting that so far, we have only been extracting gold basically from the surface. Once diamond drilling is done, we can then start to extract the richer gold veins under the ground," added President Tecson.
Meanwhile, WIET LLC, the US company which has gone into an agreement with Pearl Asian to purchase gold, is coordinating on a schedule for its President, Mr. Roman Gudzyuk, to visit Operation CDO very soon. "Mr. Gudzyuk is very eager to accept Pearl Asian's first gold delivery, and is likewise keen on buying other metals such as copper, manganese, iron, and others. There are also plans for Mr. Gudzyuk to accompany our Preliminary Exploration Team in its ocular inspections of new mine sites, and we hope to show them the gold, copper, and manganese mines we are evaluating at present," stated Engr. Gary Gotanco, VP-Business Development & IRO.
Last but not the least, Pearl Asian is issuing this clarification on the issuance of stock dividends of Philippines Royal Oil & Alternative Energy Co., Inc. For every 100 common shares of PAIM held as of record date of February 18, 2007, shareholders will receive 1 share of Philippines Royal Oil & Alternative Energy Co., Inc. Ex-dividend date shall be announced once determined by NASD. The change in name from Philippines Gold Mining Corporation (Other OTC Symbol: PGMC) to Philippines Royal Oil & Alternative Energy Co., Inc. is ongoing, including its incorporation in the State of Wyoming, thus no symbol is available for the new company as of now. "Philippines Royal Oil & Alternative Energy Co. has good potential, as oil is present in the Philippines but is as yet largely untapped. In addition, the recent directive from US President Bush to cut the country's oil consumption by 20% in 10 years and mandating the shift to biofuels ensures a large biofuels market in the US. The Philippines has vast plantations of sugarcane-raw material for bioethanol, and coconut-which is a raw material for biodiesel. The Philippines can supply much of the US demand, so it's a perfect match," stated Engr. Gotanco who is concurrently President/CEO of Philippines Royal Oil & Alternative Energy Co., Inc.
FORWARD STATEMENTS:
Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements in this release include statements regarding the Company's projections regarding gold production in future periods. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties such as: risks relating to estimates of reserves, mineral deposits and production costs; mining and development risks; the risk of commodity price fluctuations; political and regulatory risks; risks of obtaining required operating permits and other risks and uncertainties. Penny Stocks are very highly speculative and may be unsuitable for all but very aggressive investors. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Pearl Asian Mining Industries Inc. - Philippines Investor Relations: Engr. Gary Gotanco, MBA, 866-732-7888 (USA) or 011.63.2.567.5163 (P.I.) Fax: 877-317-4430 e-mail: IR*PearlAsianMining.com www.PearlAsianMining.com
Source: Business Wire (January 31, 2007 - 10:01 AM EST)
News by QuoteMedia
Posted by BuckyBarnes on :
PAIM (.0006) $6,800 Gross Sale/Revenue From Over 312 Grams (10 Ounces) Is Being Sold This Week From First Gold Production, Pearl Asian Mining Industries, Inc. Announces
Business Wire "US Press Releases "
MANILA, Philippines--(BUSINESS WIRE)--
Pearl Asian Mining Industries, Inc. with Stock SYMBOLS: U.S.A. (OTC:PAIM); Germany (XETRA:R1Z) and (Frankfurt:R1Z) proudly announces its highly anticipated first revenue this week from its first developed and operational gold mine site using the manual methods and hydraulicking procedure of gold harvesting. This first gold revenue along with the coming months marks the beginning of revenue reporting to be reflected this first quarter of PAIM's 2007 financial statement.
The Gold Team led by Chief Mining Officer Engineer Cesar Rosales continues to develop, enhance, and improve the production rate to reach the initial goal of at least 1 kilogram (32 ounces) of gold per week. "We look forward to a very healthy gold production this month of February and the months ahead as the warm and sunny weather has started in the Philippines," exclaimed CMO Rosales.
Meanwhile, diamond core drilling is due to start this month as Chief Geologist Regino Selvano and his team of geologists Arlene Aguila and Bart Apuan are already at the mine site to focus on this vital task.
FORWARD STATEMENTS:
Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements in this release include statements regarding the Company's projections regarding gold production in future periods. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties such as: risks relating to estimates of reserves, mineral deposits and production costs; mining and development risks; the risk of commodity price fluctuations; political and regulatory risks; risks of obtaining required operating permits and other risks and uncertainties. Penny Stocks are very highly speculative and may be unsuitable for all but very aggressive investors. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Source: Pearl Asian Mining Industries Inc. - Philippines
Posted by ACKCANE on :
Was there ever a divy from PAIM?
Posted by USFBRIAN on :
So how do I figure out how much money 4,500 shares of the bond will be worth in March? Can anyone tell me?
Posted by BuckyBarnes on :
PAIM .0006
Breakthrough Reached in Right-of-Way Negotiations for XYZ Gold Mine Site, PAIM Announces Pearl Asian Mining Industries Reports Landowner of Property Adjacent to XYZ Mine Site Agreeable to Allow Immediate Passage to Commence Geological Survey and More Detailed Sampling, Subject to Mutually Beneficial Terms; PAIM Provides Clarification on Issuance of Stock Dividends of PGMC to PAIM Common Shareholders as of Record Date of Feb. 18, 2007 Feb 12, 2007 1:12:00 PM Copyright Business Wire 2007 MANILA, Philippines--(BUSINESS WIRE)--
Pearl Asian Mining Industries, Inc. with stock symbols: U.S.A. (OTC: PAIM); GERMANY (GER: R1Z) (FWB: R1Z), reports that it has reached a breakthrough in its right-of-way negotiations with a landowner near the XYZ mine site. Executive President Randolf Villanueva reports: "We recently met with the landowner of an adjacent property, who has a pending small-scale mining permit. The discussions were directed towards reaching a mutually beneficial arrangement. The details of the arrangement will be disclosed at the most opportune time so as not to preempt nor jeopardize the talks." The immediate result of the positive discussions: both parties have agreed to schedule the conduct of a geological survey utilizing passage through the subject property, within the week, involving PAIM's team composed of Chief Mining Engineer Cesar Rosales, Field Geologist Bart Apuan Jr., Executive President Villanueva, and VP-PRO Ariel Caleon. With this development, PAIM is more confident of achieving one of its main targets: to get the very promising and potentially profitable XYZ Mine Project operational this year.
Meanwhile, because of the numerous queries from eager PAIM shareholders, Pearl Asian is again providing a clarification on the issuance of stock dividends of Philippines Royal Oil & Alternative Energy Co., Inc. (formerly PGMC, new stock symbol to be announced when available). For every 100 common shares of PAIM held as of record date of Feb. 18, 2007, shareholders will receive 1 share of PGMC/PHIL OIL. Ex-dividend date shall be announced once determined by NASD. For example, a shareholder who owns 1 million common shares of PAIM as of close of business day on Feb. 18, 2007, will receive a dividend equivalent to 10,000 common shares of PGMC/PHIL OIL (Restricted, subject to Rule 144 - 1 year holding); based on the following calculation: 1,000,000/100 = 10,000 common shares of PGMC/PHIL OIL. It is important to note that the PGMC stock dividends issued are already post-forward split. It is also worth noting that only Common Shares held as of record date of Feb. 18, 2007 are entitled to the stock dividend of PGMC/PHIL OIL, which means shareholders who exclusively own Preferred Shares and/or Convertible Debentures only are NOT entitled to the stock dividend. Pearl Asian shall furnish in future PRs the mechanics of the stock dividend issuance and the procedure shareholders need to follow to claim their stock dividends.
Forward-Looking Statements:
Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements in this release include statements regarding the Company's projections regarding gold production in future periods. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties such as: risks relating to estimates of reserves, mineral deposits and production costs; mining and development risks; the risk of commodity price fluctuations; political and regulatory risks; risks of obtaining required operating permits and other risks and uncertainties. Penny Stocks are very highly speculative and may be unsuitable for all but very aggressive investors. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Source: Pearl Asian Mining Industries, Inc.
---------------------------------------------- Pearl Asian Mining Industries Inc. - Philippines Investor Relations: Engr. Gary Gotanco MBA 310-728-6907 (P.I.) or 011-63-2-567-5163 (P.I.) or 866-732-7888 (USA) or Fax: 877-317-4430 IR*PearlAsianMining.com www.PearlAsianMining.com Posted by BuckyBarnes on :
News for 'PAIM' - (Record Date for Issuance of Stock Dividends of Philippines Royal Oil & Alternative Energy Co., Inc. to PAIM Shareholders Moved to February 26, 2007, Pearl Asian Mining Industries, Inc. Announces Pearl Asian Coordinating Closely with NASDAQ to obtain Payment Date for Stock Dividend of 1 Common Share in PGMC for Every 100 Shares of PAIM)
MANILA, Philippines, Feb 21, 2007 (BUSINESS WIRE) -- Pearl Asian MiningIndustries,Inc. with stock symbols: U.S.A. (OTC: PAIM); Germany (GER: R1Z) and (FWB: R1Z) announces that it has moved the Record Date to February 26, 2007 forIssuanceof Stock Dividends of Philippines Royal Oil & Alternative Energy Co., Inc. (Old Stock Symbol: PGMC; New Stock Symbol pending NASDAQ advise), or PhilOil,to PAIM shareholders. CEO Jason Piamonte states: "We are coordinating closely with NASDAQ to obtain a payment date for the stock dividend, wherein 1commonshare of PGMC will be issued for every 100 PAIM Common Shares to all shareholders of record as of February 26, 2007. The record date has been revisedtocomply with documentary requirements set by NASDAQ. The positive effect of this is that more shareholders can avail of this stock dividend in a solidcompanywith bright potentials such as Phil Oil."
Once a payment date is furnished by NASDAQ, along with the issuance of a newstocksymbol for Phil Oil, Pearl Asian shall commence sending out stock certificates by mail on the set payment date for completion within a reasonableamountof time. It is also worth noting that this stock dividend issuance will occur without any action required on the part of PAIM shareholders. The commonsharesof PGMC issued as stock dividend are post-forward split, i.e. PAIM shareholders will receive the exact number of shares.To find out more about Phil Oil, please check out its website: www.philippinesroyaloil.com.Forward-Looking Statements: Forward-looking statements involve known and unknown risks, uncertainties andotherfactors that may cause our actual results, performance or achievements to differ materially from the anticipated results, performance or achievementsexpressedor implied by such forward-looking statements. Forward-looking statements in this release include statements regarding the Company'sprojectionsregarding gold production in future periods. Factors that could cause actual results to differ materially from anticipated results include risksanduncertainties such as: risks relating to estimates of reserves, mineral deposits and production costs; mining and development risks; the risk ofcommodityprice fluctuations; political and regulatory risks; risks of obtaining required operating permits and other risks and uncertainties. Penny Stocks areveryhighly speculative and may be unsuitable for all but very aggressive investors. The Company disclaims any intention or obligation to update or reviseanyforward-looking statements, whether as a result of new information, future events or otherwise.SOURCE: Pearl Asian Mining Industries, Inc.
CONTACT: Pearl Asian Mining Industries, Inc.Gary Gotanco, U.S.A. 866-732-7888 orP.I. 011-63-2-567-5163Fax: 877-317-4430e-mail: IR*PearlAsianMining.comURL: www.PearlAsianMining.comCopyright Business Wire 2007
Posted by BuckyBarnes on :
March 21, 2007 - 9:38 AM EDT
Pearl Asian Mining Industries Sets March 31, 2007 as Payment Date for Issuance of Stock Dividends of Philippines Royal Oil & Alternative Energy Co., Inc. (Stock Symbol: PROL) to PAIM Shareholders
NASDAQ Need Not Set an X-Dividend for PAIM’s Stock Dividend, as the Dividend Shares of PROL to PAIM Shareholders are Restricted Under SEC Rule 144; First Pure Gold Refined by PAIM’s own Refinery/Metallurgy, Pearl Asian Mining Reports
Pearl Asian Mining Industries, Inc. with stock symbols: U.S.A. (OTC: PAIM)(OTC: PAIMP); Germany (GER: R1Z) and (FWB: R1Z), announces that it has set March 31, 2007 as Payment Date for the issuance of stock dividends of Philippines Royal Oil & Alternative Energy Co., Inc. (OTC: PROL), previously Philippines Gold Mining Corp. (OTC: PGMC). PAIM’s CEO Jason Piamonte, states: “We have set March 31, 2007 as the payment date for issuance of stock dividends of 1 Post Split Common share of PROL for each 100 PAIM Common shares held as of record date of February 26, 2007. NASDAQ need not set an X-Dividend, as the stock dividends are restricted for one year under SEC rule 144. Furthermore, no action is required of PAIM shareholders eligible for the stock dividend. We shall mail the post-forward split PROL stock certificates to their listed addresses. We would like to thank all PAIM shareholders for patiently bearing with us through the unforeseen delays we encountered during the processing and transition of this corporate action.”
For further information on Philippines Royal Oil & Alternative Energy Co., Inc., please check out the company website: www.philippinesroyaloil.com.
Chief Metallurgist, Elvis Hidalgo proudly shows the first refined gold containing 472.8 grams of pure gold, that had been refined by PAIM’s own refinery/metallurgy: ORO Pearl GeoServices, Inc. “After (8) eight months of patience, perseverance and great team work, we, the gold team, are excited to show our first refined pure gold and the revenues to be reflected in our 2007 First Quarter Balance Sheet Report ending March 31,” exclaimed Eng. Hidalgo.
FORWARD-LOOKING STATEMENTS:
Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements in this release include statements regarding the Company's projections regarding gold production in future periods. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties such as: risks relating to estimates of reserves, mineral deposits and production costs; mining and development risks; the risk of commodity price fluctuations; political and regulatory risks; risks of obtaining required operating permits and other risks and uncertainties. Penny Stocks are very highly speculative and may be unsuitable for all but very aggressive investors. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Pearl Asian Mining Industries, Inc. Gary Gotanco, 866-732-7888 or 011-63-2-567-5163 FAX: 877-317-4430 E-mail: IR*PearlAsianMining.com www.PearlAsianMining.com
Source: Business Wire (March 21, 2007 - 9:38 AM EDT)
News by QuoteMedia
Posted by BuckyBarnes on :
J_U_ICE Member posted 2007-04-02 10:39 PROL (.03) Announces Promising Results of Laboratory Analysis on Crude Oil Sample From Calatrava Oil Find, Indicating High Kerosene and Gasoline Content
Business Wire "US Press Releases "
MANILA, Philippines--(BUSINESS WIRE)--
Philippines Royal Oil & Alternative Energy Co., Inc. (OTC: PROL), previously Philippines Gold Mining Corporation (Old OTC Symbol: PGMC), announces that the laboratory results on the crude oil sample taken from the Calatrava Oil Find, Phil Oil's first oil project, have been released. The laboratory test was conducted by the Energy Research & Testing Laboratory Services of the Philippine Department of Energy. Utilizing the fractional distillation method, the lab analysis result indicates that the oil sample from Calatrava contained the following:
Water Boiling Point Difference 8.00 Gasoline -same- 7.50 Kerosene -same- 63.00 Residue -same- 18.50 Others -same- 3.00
Furthermore, the crude oil sample had an API Gravity of 11.78, which qualifies it as "heavy oil". Kerosene, aside from being a heating fuel used mostly in 3rd world countries and a solvent in the paint/colorant industry, may also be converted through further processing in a refinery into jet A-1 fuel used by airliners throughout the world.
Gary Gotanco, President/CEO states: "The very promising laboratory results obtained is but an initial indication of the quality of crude oil in the Calatrava Oil Find. Phil Oil will then go through the systematic oil exploration method of conducting additional tests, i.e. geological, geophysical, and geochemical studies, including a seismic survey to determine the extent of the five elements necessary for a good oil prospect: the source rock, mechanism of migration, the trap, cap rock, and the oil reservoir. Once it has been determined through these tests that all five elements are present, and if the estimated recoverable oil reserves are of commercial quantity, only then shall we proceed with the conduct of a costly oil well drilling program."
Meanwhile, Phil Oil clarifies that it was not responsible for nor has any knowledge of the reasons behind the recent unusual increase in trading volume and stock price of PROL.
For the full laboratory analysis/test report, and additional information on Phil Oil, please view Phil Oil's website:
Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements in this release include statements regarding the Company's projections regarding gold production in future periods. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties such as: risks relating to estimates of reserves, mineral deposits and production costs; mining and development risks; the risk of commodity price fluctuations; political and regulatory risks; risks of obtaining required operating permits and other risks and uncertainties. Penny Stocks are very highly speculative and may be unsuitable for all but very aggressive investors. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Source: Philippines Royal Oil & Alternative Energy Co., Inc.
Posted by BuckyBarnes on :
April 2, 2007 - 9:41 AM EDT
Pearl Asian Mining Industries Issues Clarification on Pink Sheets Announcement Entitled 'Pearl Asia Mining (PAIM) Not Eligible for OTCQX (Announcement)' Dated March 29, 2007 PAIM Reassures Shareholders and Investors That Steps Are Being Taken to List in a Higher Exchange Having More Stringent Reportorial Requirements This Year, Starting with Obtaining Market Maker Sponsorship
Pearl Asian Mining Industries, Inc., with Stock Symbols: U.S.A. (OTC: PAIM) (OTC: PAIMP); Germany (GER: R1Z) and (FWB: R1Z), issues the following clarification on a Pink Sheets announcement entitled “Pearl Asia Mining (PAIM) Not Eligible for OTCQX (Announcement)” dated March 29, 2007.
This clarification is directed towards an announcement stating that Pink Sheets received a copy of a press release stating that Atty. Stephen Czarnik had submitted an application to Pink Sheets in the last quarter of 2006 to become a Designated Advisor for Disclosure (DAD), and that approval of Atty. Czarnik’s application would bring Pearl Asia(n) Mining Industries Inc. closer to listing in the OTCQX this year. Moreover, the said announcement advised investors and other interested persons that Pink Sheets has not received an application from Mr. Czarnik to become a DAD or from Pearl Asia to list on OTCQX, and that based on “limited information available regarding this issuer (Pearl Asian Mining Industries) … it does not appear that Pearl Asia would meet the qualifications for an OTCQX listing, whether or not Mr. Czarnik is approved to serve as a DAD.”
The Press Release referred to in the first statement in preceding paragraph was issued on January 8, 2007 entitled “Pearl Asian Mining Industries, Inc. Engages Services of Accounting Firm Affiliated with One of the Top Global CPA Companies…,” the pertinent portion of which reads:
“Meanwhile, Atty. Stephen Czarnik, Pearl Asian's nominated Designated Advisor for Disclosure (DAD), has submitted his application to Pink Sheets the last quarter of 2006 and just awaiting to become an approved DAD for PAIM. Pearl Asian believes OTCQX's mandatory DAD application process shall ensure compliance with strict eligibility criteria. The approval of Pearl Asian's DAD brings PAIM closer to listing in the OTCQX this year 2007.”
Based on a recommendation by a group of investors, Pearl Asian Mining Industries, Inc. retained the services of Atty. Czarnik in September 2006. In October 2006, Pearl Asian submitted to Atty. Czarnik a completed OTCQX Prime application form for his evaluation and review. Subsequently, Atty. Czarnik advised Pearl Asian that he would act as PAIM DAD and file the necessary OTCQX application. Thereafter, Pearl Asian issued press releases pertaining to the status of PAIM’s OTCQX application based on information from Atty. Czarnik. Around the end of January 2007, Pearl Asian sent an email inquiry to Atty. Czarnik on the status of PAIM’s OTCQX application, which remains unanswered to date.
On March 6, 2007, after receiving several queries from shareholders, Pearl Asian sent an email inquiry to Pink Sheets on the status of PAIM’s OTCQX application and Atty. Czarnik’s application to act as PAIM DAD. Although Pink Sheets did not respond, Pearl Asian noted the substantial length of time elapsed since the application was allegedly submitted, and the fact that Atty. Czarnik was still not listed as an approved PAIM DAD. This prompted Pearl Asian to terminate the services of Atty. Czarnik and to search for a suitable replacement.
Management of Pearl Asian has concluded that Atty. Czarnik’s either did not apply or was not accepted to act as PAIM DAD and that PAIM’s OTCQX application was not submitted.
Aware of the fact that one of the requirements for PAIM’s application to list on a OTCQX exchange or in any alternative United States stock exchange is sponsorship by a market maker, management of Pearl Asian is currently working hard to procure a market maker and begin the process. Pearl Asian would like to reassure all of its valued shareholders and investors that the company still expects to achieve its key objective to list on the OTCQX exchange or in any alternative United States stock exchange (i.e. one with more stringent reportorial requirements) in fiscal 2007.
FORWARD-LOOKING STATEMENTS:
Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements in this release include statements regarding the Company's projections regarding gold production in future periods. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties such as: risks relating to estimates of reserves, mineral deposits and production costs; mining and development risks; the risk of commodity price fluctuations; political and regulatory risks; risks of obtaining required operating permits and other risks and uncertainties. Penny Stocks are very highly speculative and may be unsuitable for all but very aggressive investors. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Pearl Asian Mining Industries Inc. Gary Gotanco, 866-732-7888 or 011-63-2-567-5163 Fax: 877-317-4430 IR*PearlAsianMining.com www.PearlAsianMining.com
Source: Business Wire (April 2, 2007 - 9:41 AM EDT)
Posted by BuckyBarnes on :
MANILA, Philippines, May 09, 2007 (BUSINESS WIRE) -- Pearl Asian MiningIndustries,Inc., with Stock Symbols U.S.A. (OTC: PAIM) (OTC: PAIMP); Germany (GER: R1Z.DE) and (FWB: R1Z.F), announces the positive results of laboratoryassaysdone by McPhar Geoservices (Philippines) on ore samples from the Aroroy Gold Rush Site in Masbate Province very near XYZ mine, revealing average goldcontentof 44 grams Au per ton of ore. "This is one of the reasons why we are fast-tracking the negotiations to operate one promising area of the Aroroy GoldRushSite," states Randolf Villanueva, Executive President of Pearl Asian MiningIndustries,Inc.
It is expected that negotiations with the landowner will be concluded within themonthof May, and mobilization to commence operation to begin immediately thereafter. Subsequently, operations in another promising mine site, Gango GoldRushsite in Bukidnon Province near the vicinity of Binasan Mine Project CagayandeOro, is expected to commence before the end of June 2007, with the expectedcompletionof the initial feasibility study this week. Villanueva adds, "Before the end of June, Pearl Asian Mining is foreseen to be commercially operating 3small-scalegold mines, as minimal development of infrastructure is expected in these areas considering the presence of roads in both sites and, equallyimportant,operational gold processing equipment are on-site as well."
Meanwhile, Pearl Asian announces that ORO - Operation Reach Out USA, anon-stock/non-profitorganization, has applied for incorporation in the State of Nebraska to facilitate fund-raising efforts for PAIM's Outreach Programs at itsminesites. Jason Piamonte, PAIM CEO for USA and Europe, states: "Aside from theobviousbenefit of facilitating immensely PAIM's fund-raising activity to improve the living conditions/livelihood of communities wherein the companyoperatesmines, it also serves a substantial economic/financial benefit for PAIM as well. Firstly, this will ensure that the communities continue to welcomePAIM'soperations, as community acceptance is a vital component for continued operations of mines under Philippine laws. Secondly, part of the funds raisedwillallow PAIM to recover the company's financial resources advanced for its community relations projects such as construction of roads, churches/temples,thehealing center, the Jennifer Bosaw Academy (the Binasan Pearl Learning Center), etc. In other words, PAIM may be reimbursed these funds and use theseforimprovement of operations such as upgrading of equipment/facilities to increase gold production, and to cover other vital operating expenses."Donations to ORO Operation Reach Out USA in cash or in kind may be made throughMrs.Jennifer Lyn Bosaw, President/Treasurer at 1601 Hedgeapple Rd., Plattsmouth, Nebraska 68048, Phone # (402) 212-7841, Fax # (347) 214-7841.Likewise,cash donations may be sent via SAC Federal Credit Union payable to: Operation Reach Out USA or via Paypal email address: orojennifer*charter.net.PearlAsian Mining Industries would like to extend its heartfelt appreciation for the untiring efforts of the Bosaw couple, especially Mrs. Bosaw who isfulfillingher role as President/Treasurer of ORO Operation Reach Out USA pro bono.Furthermore, Pearl Asian Mining announces the appointment of Jeffrey Alan Bosawasthe new Investor Relations Officer for PAIM & PROL. This management decisiontoengage a highly experienced and very knowledgeable IR Officer within the USAwillenable the company to handle effectively and efficiently the ever-increasing inquiries of the company's shareholders.Forward-Looking Statements:
Forward-looking statements involve known and unknown risks, uncertainties andotherfactors that may cause our actual results, performance or achievements to differ materially from the anticipated results, performance or achievementsexpressedor implied by such forward-looking statements. Forward-looking statements in this release include statements regarding the Company'sprojectionsregarding gold production in future periods. Factors that could cause actual results to differ materially from anticipated results include risksanduncertainties such as: risks relating to estimates of reserves, mineral deposits and production costs; mining and development risks; the risk ofcommodityprice fluctuations; political and regulatory risks; risks of obtaining required operating permits and other risks and uncertainties. Penny Stocks areveryhighly speculative and may be unsuitable for all but very aggressive investors. The Company disclaims any intention or obligation to update or reviseanyforward-looking statements, whether as a result of new information, future events or otherwise.SOURCE: Pearl Asian Mining Industries Inc.
CONTACT: Pearl Asian Mining Industries Inc.Jeffrey Alan Bosaw, 402-212-7840 or 011-63-2-567-5163Fax: 877-317-4430Direct e-mail: bosawj*charter.netE-mail: IR*PearlAsianMining.comwww.PearlAsianMining.comCopyright Business Wire 2007