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Pearl Asian Mining Industries ''Operation Cagayan De Oro - CDO'' Estimated An Initial Resource of 100,000 Metric Tons Of Gold Ore With An Average Grade Of Over 16 grams/ton of Au (Gold) From The Small Scale Pilot Mining Operation
Tuesday , July 25, 2006 09:45 ET
MANILA, Philippines, Jul 25, 2006 (BUSINESS WIRE) -- Chief Mining Officer Cesar Rosales of Pearl Asian Mining (OTC:PAIM) reports: According to the assessment of Chief Geologist Reggie Selvano, he estimated an initial resource from this small scale operation of 100,000 metric tons of gold ore with an average grade of 16 grams/ton of gold (Au), using the 18 tons per day operation, 24 days per month at a very conservative figure of 90% Capacity with a 30% Overhead Cost per production.
PRODUCTION ANALYSIS OF INITIAL SMALL SCALE PILOT OPERATIONS:
Average Gold Assay: = 16 grams / ton = 0.51 Ounces per ton (OPT) (Note: 31.10 grams = 1 ounce)
Estimated Plant Equipment Efficiency Production: (18 tpd ) (100 tpd) --------- --------- (use value of 90%) = 18 tons per day X .90= 16.20 TPD 90.00 TPD
0.51 OPT X 16.20 TPD = 8.26 Ounce per day (OPD) 45.90 OPD 8.26 OPD X 24 days = 198.24 Ounces per per month month (OPM) 1101.60 OPM
Estimated Price per Ounce = $600 per ounce 198.24 OPM X $600 = $118,944.00 / Month $660,960.00 / Month
Gross Production Amount Per Year : $118,944 X 12 months = $1,427,328 / Year $7,931,520.00 / Year
Net Profit After Cost = $999,129.60 / Year $5,552,064 / Year ------------------ ----------------- Consider a 30% ($1,427,328 X .30= ($7,931,520 X.30= Overhead $428,198.40) $2,379,456.00)
There are stockpiles currently derived from the exposed veins which are going to be the sources of gold ores that can give the immediate good income of the company once processed and in full production in August, 2006, even from this small scale production of 18 tons per day operation.
Please note that this is a very conservative figure of just 18 tons per day capacity of the gold processing equipment to be used, with the mid average of gold reserves at 16 grams /ton, priced * $600 per ounce. As production becomes profitable, it will be easy to exponentially expand production output, using the inexpensive methods currently being employed.
This does not include potential income from refining the gold concentrates of local miners through Pearl Asian's controlled subsidiary, Philippines Gold Mining Corp. (PGMC), as Pearl Asian Mining Industries has envisaged to operate on a full capacity of up to 100 tons per day within the next 6 months of continues production.
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. The Factors that could cause actual result to differ materially from anticipated results includes 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 the result of new information, future events or otherwise.
SOURCE: Pearl Asian Mining Industries Inc. - Philippines
Pearl Asian Mining Industries Inc. Investor Relations Gary Gotanco, 678-570-6538 (US) or 1-310-728-6907 or 011 +63.2.490.0140 (Philippines) IR*PearlAsianMining.com Fax: (877) 317-4430 www.PearlAsianMining.com
Copyright Business Wire 2006
-------------------- The difference between genius and stupidity is that genius has its limits
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Pearl Asian Mining Industries ''Operation Cagayan De Oro - CDO'' Estimated An Initial Resource of 100,000 Metric Tons O Business Editors / Mining Editors
MANILA, Philippines--(BUSINESS WIRE)--July 25, 2006-- Chief Mining Officer Cesar Rosales of Pearl Asian Mining (OTC:PAIM) reports: According to the assessment of Chief Geologist Reggie Selvano, he estimated an initial resource from this small scale operation of 100,000 metric tons of gold ore with an average grade of 16 grams/ton of gold (Au), using the 18 tons per day operation, 24 days per month at a very conservative figure of 90% Capacity with a 30% Overhead Cost per production. -0- PRODUCTION ANALYSIS OF INITIAL SMALL SCALE PILOT OPERATIONS: Average Gold Assay: = 16 grams / ton = 0.51 Ounces per ton (OPT) (Note: 31.10 grams = 1 ounce)Estimated Plant Equipment Efficiency Production: (18 tpd ) (100 tpd) --------- --------- (use value of 90%) = 18 tons per day X .90= 16.20 TPD 90.00 TPD 0.51 OPT X 16.20 TPD = 8.26 Ounce per day (OPD) 45.90 OPD8.26 OPD X 24 days = 198.24 Ounces per per month month (OPM) 1101.60 OPMEstimated Price per Ounce = $600 per ounce198.24 OPM X $600 = $118,944.00 / Month $660,960.00 / MonthGross Production Amount Per Year :$118,944 X 12 months = $1,427,328 / Year $7,931,520.00 / YearNet Profit After Cost = $999,129.60 / Year $5,552,064 / Year ------------------ ----------------- Consider a 30% ($1,427,328 X .30= ($7,931,520 X.30=Overhead $428,198.40) $2,379,456.00)
There are stockpiles currently derived from the exposed veins which are going to be the sources of gold ores that can give the immediate good income of the company once processed and in full production in August, 2006, even from this small scale production of 18 tons per day operation.
Please note that this is a very conservative figure of just 18 tons per day capacity of the gold processing equipment to be used, with the mid average of gold reserves at 16 grams /ton, priced * $600 per ounce. As production becomes profitable, it will be easy to exponentially expand production output, using the inexpensive methods currently being employed.
This does not include potential income from refining the gold concentrates of local miners through Pearl Asian's controlled subsidiary, Philippines Gold Mining Corp. (PGMC), as Pearl Asian Mining Industries has envisaged to operate on a full capacity of up to 100 tons per day within the next 6 months of continues production.
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. The Factors that could cause actual result to differ materially from anticipated results includes 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 the result of new information, future events or otherwise.
KEYWORD: ASIA PACIFIC PHILIPPINES INDUSTRY KEYWORD: NATURAL RESOURCES MINING/MINERALS SOURCE: Pearl Asian Mining Industries Inc. - Philippines
CONTACT INFORMATION: Pearl Asian Mining Industries Inc. Investor Relations Gary Gotanco, 678-570-6538 (US) or 1-310-728-6907 or 011 +63.2.490.0140 (Philippines) IR*PearlAsianMining.com Fax: (877) 317-4430 http://www.PearlAsianMining.com
-------------------- Insanity: doing the same thing over and over again and expecting different results
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quote:Originally posted by bobcat88: They dont have to mine, they just use a wheel barrel and walk along and pick up the gold nuggets. The machinery is just to turn it into gold bullions.
"There are stockpiles currently derived from the exposed veins which are going to be the sources of gold ores that can give the immediate good income of the company once processed and in full production in August, 2006, even from this small scale production of 18 tons per day operation."
Break that wheelbarrel back out!
-------------------- "Man who excels at putting worm on hook is Master Baiter"
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The wide margin for Bid/Ask is a good thing. Remember this post from last night:
quote:Originally posted by doling2005: Repost from Cationupahead on RB
Sandbath-I'm no expert or lawyer, but first I would say that if all the brokerages went into collusion with each other and manipulated a stock like that, not only would we have one hell of a class action lawsuit, in which we would probably make even more than what we'll make now and hence they will lose more and get severly fined by the SEC, but also PAIM the company could sue the #### out of them. On top of that, all the brokerages and MMs aren't in the same position as say Ameritrade seems to be, and they know what we know, and probably even more, so those MMs will be trying to accumulate themselves, knowing full well that Ameritrade and others have to cover and they'll be able to sell their shares for a lot more very soon. The only way for any of the MMs or brokerages to get our shares at this point is to entice us, and that means moving up the bid enough that some people will take the bait and sell, but at the same time the ask will move up, probably with a big spread, because they don't really want you to buy, they really just want you to sell. And at the same time, all of us retail investors see the focked position the MMs and brokerages are in, so we will buy all the shares we can get, because we just saw what this situation did for PAIV. They can try to stall the situation, which I believe is what happened today, but as the situation here becomes more and more clear to alot of investors, the buying pressure will be greater and greater, which will force the MMs and brokerages to cover, because it's alot better to cover now or at $0.01-$0.03, than at $0.10, $0.15, $0.20. And right now, PAIM is expecting their 27 billion shares they already paid for, so there is the pressure on that side to cover. This looks like a gold play in more than one way, LOL.
posted
well peoples, as with Duncan, my order to buy yesterday was not taken by TD A and they sent this to me : Pearl Asian Mining (PAIM) has initiated a buyback (approximately 90%) of outstanding common shares. While TD AMERITRADE verifies the terms of the buyback and updates positions accordingly, opening and closing transactions for PAIM have been restricted.
Inquiries regarding the status of the company should be directed to the investor relations department of Pearl Asian Mining.
Have a great day!
Have a great day....hmmm, but I did make some bucks with a 4,200% gain, shouldn't complain. So I'm out for now with common shares, I went with xkem and xsnx. I wish you all luck!
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Whats everyone see for the rest of the day, based on l2s? I have a partial sell in for .0065 to buy some wwen, anyone think it will hit? So far it doesn't look like it.
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If you call and talk to a broker at TDAMTD you can buy paim..... you tell them that you are not gettin your trades in on the internet and will they buy for you at the internet price.... Idid for 250000 shares Friday and then called bk when i bought and got brokers to but a .03 sell order that afternoon..... no problem Dont speak to the ones answering the phone there.... request a broker
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Hey guys, quick question - who can help bring me up to speed on what my Ameritrade account SHOULD look like? I originaly bought 1 mil shares back a few months * .0001 - as of right now, my PAIM shares are listed as quantity 100,000 - I also (post buy back) have 1,000,000,000 of symbol "N/A" - and now I'm noticing at the very bottom (below the Bonds section) I have listed "PEARL ASIAN MINING INDUSTRIES CONTRA DO NOT SELL" with a qty of ".9"
Whats with this Qty .9? anyone else with TDA in the same boat?
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.006 filled..lets see how far this will go
