CAMBRIDGE, Mass., Feb. 21, 2012 /PRNewswire/ -- Markray Corp
(RVBR.PK) announced today that it has increased its gold
production in the last quarter by 48%. This is in addition to the
significant increase in production reflected in the previous
quarterly report ending August 31,
2011.
The process to increase production was not difficult due to the
fact that the rare earth minerals have been previously mined
and have been stockpiled awaiting separation and processing. There
are no expensive mining procedures that have to be executed before
attaining the minerals. No dangerous operations with explosives nor
costly construction of underground galleries are required.
''This increase was expected following the application for
permission to increase production'' states Olga Smolnikova, president. ''We added equipment
and the team worked longer hours to obtain these results'' she
added.
Olga Smolnikova confirms ''Our
goal is to increase production to 200,000 ounces of gold per year
and then double this amount with additional equipment.''
The current value of the reserves to be processed are:
|
Gold
|
2,393,600
ounces
|
$
4,150,502,400
|
|
Silver
|
26,033,920
ounces
|
$
859,119,360
|
|
Platinum
|
26,720
ounces
|
$
43,954,400
|
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@newmail.ru
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.
SOURCE Markray Corp