Kachina Gold Corporation at Forefront of Industry Expansion as Gold Prices Reach 17-Year Highs in New Gold Rush
TOPEKA, Kansas, Nov. 3, 2005 (PRIMEZONE) -- Kachina Gold Corporation (Pink Sheets:KCHG), an emerging junior gold exploration and production company, citing recent news from Bloomberg, has learned that gold prices, currently trading just off seventeen year highs at more than $460 per ounce on the spot market, are likely to increase dramatically over the near-term period. Over the past year, gold prices have increased more than 10.3%, with uncertainty over economic and political conditions and increased demand from developing nations acting as price catalysts. A recent Bloomberg survey showed that thirty-four of 49 gold traders, investors and analysts, were advising purchase of gold, the highest level since June of 1988. Further, the production outlook for gold continues to be one of decline, with mining output only slightly up from 2004's level of 2,464 tons.
"With the long-term price outlook for gold at levels unseen since the 1980's, the future for Kachina Gold Corporation and our shareholders is bright," commented Robert M. Gaither, President of Kachina. "We have just finished our first sale of commercial gold, and production is ramping at our Mohave County, Arizona properties. With gold prices now near eighteen year highs, and with strong technical and economic indicators for price gains, we feel that the outlook for Kachina is strong."
The Company has already entered the production phase in its Mohave County properties and is currently producing upwards of 150 ounces per week. The Company expects gold reserves on the claims to hold for the next fifteen years, and anticipates that its share of production over the near term will amount to approximately 4,000 ounces valued at $1.7 million at current gold prices
Kachina Gold Corporation Completes First Commercial Gold Sale Mined from its Mohave County, AZ Property
TOPEKA, Kan., Nov. 1, 2005 (PRIMEZONE) -- Kachina Gold Corporation (Pink Sheets:KCHG), an emerging junior gold exploration and production company, announced today that it has just completed its first sale of gold commercially mined from its Mohave County, Arizona property. The sale of this gold represents the first revenues for the Company, and signals entrance into a critical phase in corporate development for Kachina Gold Corporation.
The Company has already entered the production phase in its Mohave County properties and is currently producing upwards of 150 ounces per week. The Company expects gold reserves on the claims to hold for the next fifteen years, and anticipates that its share of production over the near term will amount to approximately 4,000 ounces valued at $1.7 million at current gold prices. Over the intermediate term, Kachina expects that production will reach 8,000 ounces per year.
"This first sale of commercially produced gold represents a crucial development in the expansion of Kachina's business, and will serve to validate the strategic plan that we have undertaken over the last year," noted Robert M. Gaither, President of Kachina. "With the recent ramp-up in production from the Mohave County property, we expect this to be the first of regular commercial sales that will produce meaningful revenues in its first phase of production operations. With gold prices now near eighteen year highs, the timing of this commercial production and sales could not be better for Kachina or its shareholders," he stated.
About Kachina Gold Corporation
Kachina Gold Corporation (www.kachinagold.com) is an innovative new entrant into the white hot gold mining industry. The Company has acquired a working interest in a number of historically producing mining claims located in the prolific gold producing region of Mohave County, Arizona. Kachina's claims were heavy producers over 70 years ago before the limitations of mining technologies forced abandonment. Kachina has established operating agreements with an experienced mining partner, and is already extracting ore out of the ground today. Upon completion of remediation and rework on these claims, Kachina expects to extract approximately 1 ton a year -- or $14.8 million at today's gold prices.
The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking statements made on behalf of the company. All such forward-looking statements are, by necessity, only estimates of future results and actual results achieved by Kachina may differ materially from these statements due to a number of factors. Kachina assumes no obligations to update these forward-looking statements to reflect actual results, changes in assumptions or changes in other factors affecting such statements. Investors and potential investors should independently investigate and fully understand all risks before making investment decisions.
-------------------- thanks to all GZFX panic seller!!! Take a look at CWFG....did I mention ITGJ ? Posts: 216 | From: my mother!! | Registered: Nov 2005
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it is now time to buy!!!! this company is making $$$ now
-------------------- thanks to all GZFX panic seller!!! Take a look at CWFG....did I mention ITGJ ? Posts: 216 | From: my mother!! | Registered: Nov 2005
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