Press Release: Markray Corp
Companies:
RELATED QUOTES
| Symbol | Price | Change |
|---|---|---|
| RVBR.PK | 0.041 | +0.00 |
CAMBRIDGE, Mass., Feb 28, 2012 /PRNewswire/ — Markray Corp (RVBR.PK) announced today that it obtained an initial offer from its financial partner to purchase the outstanding shares of the Company as well as all the rights to the options the Company has to process additional minerals and thereby increase its production. The terms of the offer shall be set forth in a few days.
This offer is the final result from the latest negotiations to obtain financing to acquire the rights to process an additional 50% of the reserves. A due diligence was conducted on the assets contained in the stockpile as well as on the official report concluding that the content and current value of rare earth minerals are as follows:
| Gold | 2,393,600 ounces | $4,150,502,400 |
| Silver | 26,033,920 ounces | $859,119,360 |
| Platinum | 26,720 ounces | $43,954,400 |
The report had been made for a previous owner by the Central Research Institute of Geological Prospecting for Base and Precious Metals. It serves as an international consulting firm in the area of geologic and mining works. It was founded in 1935 as the head institute for methodological and technological support for the use and development of resource based precious metals.
It interacts with foreign geological surveys and firms and operates in Australia, Algeria, Argentina, Afghanistan, Bulgaria, Bolivia, Hungary, Vietnam, Guinea, Germany, Honduras, Greece, Egypt, Iran, Spain, Canada, Cyprus, China, Columbia, Congo, Morocco, Mozambique, Mongolia, Nepal, Nicaragua, Peru, Poland, Syria, Slovakia, Sudan, United States, Tanzania, Turkey, Czech Rep, Chile, Ethiopia, etc.
It confirms that the present Technical report was made in accordance with National Instrument NI 43-101 and Form 43-101F1 standards.
About Markray
Markray is in the business of extracting precious metals from stockpiles of raw material. A geological audit of its current reserves concludes that there are the following minerals in the stockpile currently being processed:
| Gold: | 2,393,600 ounces |
| Silver: | 26,033,920 ounces |
| Platinum: | 26,720 ounces |
| Iron: | 20,800,000 tons |
The company plans to acquire additional facilities to increase its reserves. Each facility shall be processed by a unique modular plant.
Contact:
Andrei Smirnoff
asmirn
Forward-Looking Statements
This news release contains “forward-looking statements,” as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release that are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future.
Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include the fluctuations in the price of gold and in the event of severe weather conditions. These forward-looking statements are made as of the date of this news release, and the Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although the Company believes that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate.
