Clarification of Preliminary Gold, Silver & Other Precious Metals Assay Report From XYZ Gold Mine Site of Pearl Asian M
PASIG CITY, METRO MANILA, PHILIPPINES -- (MARKET WIRE) -- 02/24/06 -- Pearl Asian Mining Industries, Inc. (OTC: PAIM) released the first preliminary geo-survey report conducted by a Canadian Geological Company yesterday would like to further clarify the these results.
INSTALLATION OF A START-UP PRODUCTION PLANT CAPACITY of 200 Metric Tons per day at the XYZ Gold Mine Site where the occurrence of the HIGH-GRADE GOLD ORES had been identified and documented: GOLD SAMPLES were assayed at 1.35 grams per ton, 21.40 grams per ton and 90.00 grams per ton.
A. The estimated Average of 15.0 grams per ton of GOLD ORE can produce an
output of approximately 3,750 grams of Gold per Day; with a 30-Day
Month Production Output of 112.5 Kilograms or 3,617.20 Troy Ounces,
which is equivalent to US$ 1,808,510.00 * a buying price of $500.00
per Troy Ounce.
B. An Annual Gross Revenue from gold production of US$21,702,120.00
is estimated to be generated, aside from sales of silver and other
minerals. The 200 Tons per Day Processing Plant is planned to be
increased to 1,250 tons per day (Equivalent to 6.25 X 200 Tons per day
increased in a 6-8 month period.)
C. A 1,250 Tons per day Processing Plant is estimated to bring a Monthly
Gross Revenues of US$12,303,187.50 ($1,808,510 X 6.25); or an
estimated ANNUAL GROSS INCOME of US$14,638,250.00 from GOLD
PRODUCTION.
D. PAIM has a Macroscopic Plan for the whole Masbate Island because of
its Rich GOLD potential. By implementing our Community Mining
Assistance Program to the whole Masbate Island, and improved
production capability of the Community Small Scale Miners, we are
expecting to acquire Additional Income of a minimum of 12 kilograms
or approximately 387 Troy Ounces of GOLD which is estimated to be a
Gross Revenue of approximately US$193,500.00
E. The $193,500 Gross Revenue Per Day multiplied by 30 Days, is
estimated to be US$5,805,000.00 and calculating for the whole
year (times 12 months) is estimated to be US$69,660,000.00 of
ANNUAL GROSS REVENUE from the COMMUNITY SMALL SCALE MINING ASSISTANCE
PROGRAM.
F. XYZ GOLDPROJECT is estimated to generate a TOTAL GROSS REVENUE for the
GOLD PRODUCTION, an equivalent of USD$217,298,250.00 which
excludes the REVENUES from SILVER and other Precious Metals.
FORWARD STATEMENTS;
With the exception of historical information, this news release and accompanying information may include forward-looking statements that involved a number of risks and uncertainties. Actual results could differ materially from those anticipated as a result of various factors. There are numerous factors that could contribute to such difference, therefore such projected events and anticipated results are not warranties or guaranties that such events will occur or that the Company will achieve such results.
posted
I really thought this was good news, but there is not the reaction I was expecting. I there something I should know here?
Posts: 291 | From: Dundee, Oregon | Registered: Jan 2006
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posted
This one you have to be patient with... the company itself is supposedly selling at .0002. This stock probably won't move until we get closer to the March 17th preferred stock dividend payout.
-------------------- trashed and scattered again Posts: 629 | From: Boston | Registered: Jan 2006
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posted
What does it mean when a MM (DOMS) is asking .0003 and the size is 500,000?
Posts: 291 | From: Dundee, Oregon | Registered: Jan 2006
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posted
This is really awesome news. The selling from the company is most likely over, look at the accumilation chart its on an uptrend now. This wont stay at .0002. I'm loading up because in 2 weeks this will be at .003.
-------------------- *I'm not a financial expert or advisor, everything stated is my opinion* Posts: 1680 | From: NC | Registered: Jan 2006
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posted
Just had a couple hundred dollars in cash so picked up 600,000 more to add to my 5 mill.May have to sell something to get to 10 like DWE. Think this will be huge real soon.
-------------------- Despite the high cost of living it remains popular Posts: 165 | From: Waikiki Beach | Registered: Feb 2006
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Press Release Source: Pearl Asian Mining Industries Inc.
First Preliminary Gold, Silver & Other Precious Metals Assay Report from XYZ Gold Mine Site of Pearl Asian Mining Industries, Inc. Friday February 24, 12:51 pm ET
PASIG CITY, Metro Manila, Philippines--(BUSINESS WIRE)--Feb. 24, 2006--Pearl Asian Mining Industries, Inc. (OTC: PAIM - News) released the first preliminary geo-survey report conducted by a Canadian Geological Company. The XYZ Gold Mine Site located in the Town of Baleno, Island of Masbate, Philippines has very good potential and shows High-Grade Gold Ores.
SAMPLE GOLD SILVER COPPER MOLYB ZINC LEAD AS (GpT) (PPM) (PPM) (PPM) (PPM) (PPM) (PPM) ---------------------------------------------------------------------- 1 0.03 g less than 0.5 10 30 55 30 28 ---------------------------------------------------------------------- 2 0.04 g less than 0.5 70 20 85 10 9 ---------------------------------------------------------------------- 3 21.40 g 86.4 35 5 10 580 3 ---------------------------------------------------------------------- 4 1.35 g 1.8 150 15 20 70 4 ---------------------------------------------------------------------- 5 9.00 g 72.0 400 15 100 970 1 ---------------------------------------------------------------------- 6 0.15 g 8.1 560 10 70 45 1 ---------------------------------------------------------------------- 7 13.23 g 59.6 180 10 1100 1400 2 ---------------------------------------------------------------------- 8 90.37 g 533.6 300 2 7800 9400 1 ---------------------------------------------------------------------- 9 0.04 g 3.5 85 5 2000 850 38 ----------------------------------------------------------------------
Installation of a start-up production plant capacity of 200 Metric Tons per day at the XYZ Gold Mine Site where the occurrence of the High-Grade Gold Ores had been identified and documented: Gold Samples were assayed at 1.35 grams per ton, 21.40 grams per ton and 90.00 grams per ton.
A. The estimated Average of 15.0 grams per ton of Gold Ore can produce
an output of approximately 3,750 grams of Gold per Day; with a
30-Day Month Production Output of 112.5 Kilograms or 3,617.20 Troy Ounces, which is equivalent to US$1,808,510.00 at a buying price of $500.00 per Troy Ounce.
B. An Annual Gross Revenue from gold production of US$21,702,120.00
is estimated to be generated, aside from sales of silver and other
minerals. The 200 Tons per Day Processing Plant is planned to be increased to 1,250 tons per day (Equivalent to 6.25 X 200 Tons per day increased in a 6 -8 month period).
C. A 1,250 Tons per day Processing Plant is estimated to bring a
Monthly Gross Revenues of US$12,303,187.50 ($1,808,510 X 6.25);
or an estimated Annual Gross Income of US$14,638,250.00 from Gold Production.
D. PAIM has a Macroscopic Plan for the whole Masbate Island because of
its Rich Gold potential. By implementing our Community Mining
Assistance Program to the whole Masbate Island, and improved production capability of the Community Small Scale Miners, we are expecting to acquire Additional Income of a minimum of 12 kilograms or approximately 387 Troy Ounces of Gold which is estimated to be a Gross Revenue of approximately US$193,500.00
E. The $193,500 Gross Revenue Per Day multiplied by 30 Days, is
estimated to be US$5,805,000.00 and calculating for the whole
year (times 12 months) is estimated to be US$69,660,000.00 of Annual Gross Revenue from the Community Small Scale Mining Assistance Program.
F. XYZ GOLDPROJECT is estimated to generate a Total Gross Revenue for
the Gold Production, an equivalent of USD$217,298,250.00
which excludes the Revenues from Silver and other Precious Metals.
Forward-Looking Statements:
With the exception of historical information, this news release and accompanying information may include forward-looking statements that involved a number of risks and uncertainties. Actual results could differ materially from those anticipated as a result of various factors. There are numerous factors that could contribute to such difference, therefore such projected events and anticipated results are not warranties or guaranties that such events will occur or that the Company will achieve such results.
Contact: Pearl Asian Mining Industries Inc. - Philippines Investor Relations: E. Pearl Asian, 650-814-3268 IR*PearlAsianMining.com www. PearlAsianMining.com Fax: 877-317-4430
-------------------------------------------------------------------------------- Source: Pearl Asian Mining Industries Inc.
-------------------- *I'm not a financial expert or advisor, everything stated is my opinion* Posts: 1680 | From: NC | Registered: Jan 2006
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posted
Now 256 million... the first 247 mill were one color and the last 9 was another, does that mean one block of buys went through at .0001 for 247 shares?
Posts: 5508 | From: Southeastern PA | Registered: Jan 2006
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posted
From his cave in the Kush mountains?Don't think he's too interested in mining in the Philippines but I am.Just don't like that attempted coup over there.This will have its day just like RSHN today.
-------------------- Despite the high cost of living it remains popular Posts: 165 | From: Waikiki Beach | Registered: Feb 2006
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I bought more at 1 today. Just think if it goes to 2 thats 50%! haha This thing will definately go. Just gotta be patient like we were with RSHN.
-------------------- *I'm not a financial expert or advisor, everything stated is my opinion* Posts: 1680 | From: NC | Registered: Jan 2006
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posted
its 1000 preferred shares for every 1 common share owned...dividend...not F/S. Something was lost in the filipino translation of things.
-------------------- *I'm not a financial expert or advisor, everything stated is my opinion* Posts: 1680 | From: NC | Registered: Jan 2006
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posted
7 is still gonna have 42 BILLION shares to unload. You ever try to sell a billion shares?
Posts: 882 | From: CA | Registered: Jan 2006
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posted
And if 7 has 42 billion shares on his own, what do you think the A/S is on this puppy?
Posts: 882 | From: CA | Registered: Jan 2006
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