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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Southridge Enterprises Inc (CE) | USOTC:SRGE | OTCMarkets | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.000001 | 0.00 | 01:00:00 |
"I am very pleased we have secured this funding which will expedite the Cinco Minas Mill Production Plan and expect to be in full operation and production in a short period of time," stated Michael Davies, President. "We look forward to advancing our Mill Production Plan immediately. In addition, I believe our Mill Assessment Committee has done such an exceptional job in building and developing a new strategy for the Cinco Minas Mill that I am confident will result in production profits by the third quarter of 2012. The MPP business strategy sets us apart from other junior mining companies because we have an advanced stage property and facility and confirmed mineral resources from which to begin production. Our timeline to turn a profit is much shorter than many other companies. Southridge expects a prompt return on investment from the mill and increased annual earnings at an accelerated rate, due to our capacity for expansion."
Phase 1 of the MPP is exclusive to processing ore through the mill supplied from the 71,734 tonne stockpile onsite with an average grade of 1.66 g/t Au (gold) and 203 g/t Ag (silver), estimated by the Guadalajara, Mexico, office of the international consulting firm to the mining industry Behre Dolbear. Given the quantity of stockpiled ore onsite and the high mineral grades in Behre Dolbear report, the Company has estimated the Cinco Minas Mill could yield over $10,000,000 in total production revenues, at current gold and silver prices, from the two years of ore supply at full production capacity of 60/tonnes per day.
There will not be an issuance of shares from Southridge as a part of this transaction.
For further information on the Company's Gold and Silver projects, visit our website, http://www.southridgeminerals.com
Southridge Investors can access the following Southridge Minerals social media channels:
YouTube Cinco Minas Mexico Project: (http://youtu.be/R6P8oght4Ik) (http://youtu.be/o2LfLaSu8ww)
Facebook: (http://www.facebook.com/pages/Southridge-Minerals-Inc/163457600376466) Twitter: (http://twitter.com/SouthridgeSRGE)
About Southridge Minerals, Inc. (PINKSHEETS: SRGE) Southridge Minerals, Inc. is a U.S.-based mineral exploration company dedicated to acquiring and developing mineral resources in geologically permissible and politically stable areas of the world. The Company seeks out early stage opportunities with good mineralization indicators that exhibit significant blue-sky potential. Southridge pursues and advances these projects that are or will be of interest to mid-size and major producers. By forming alliances on individual projects, the Company expects to develop its interests in mines operated by its partners, allowing it to continue to build value through continued exploration. Southridge is currently focused on projects in Mexico.
What sets Southridge apart is its vast experience in Mexico and the knowledge of the geological conditions and formations pertaining to known large gold deposits that have received very little attention to date. This comparative advantage, combined with a specific geographical and mineral focus, will allow for more efficient asset and income growth in the future for the benefit of shareholders' investments.
Forward-Looking Statements Although the Company believes that the forward-looking statement of beliefs, plans, expectations, and intentions contained in this press release are reasonable, there can be no assurance those beliefs, plans, expectations or intentions will prove to be accurate. Investors should consider all of the information set forth herein and should also refer to the risk factors disclosed in the Company's published current and periodic reports.
Karen Mills Investor Relations Tel. (214) 699-6255 Email: Email Contact http://www.southridgeminerals.com
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