ATI Petroleum Granted Titanium Mining License by People's Committee.Symbol: MLATP (NYSE Euronext) SAN FRANCISCO -- American Technologies Incorporated Petroleum (ATIP ATIP Access to Information and Privacy (Canada) ATIP Asian Technology Information Program ATIP Absolute Time in Pregroove (CD technology) ATIP Association Technique de l'Industrie Papetière ) today announced that the People's Committee of Vietnam has approved its license for mineral exploration and development of an ilmenite/titanium reserve in June of 2008. Production is currently underway with reserves estimated at over 5 million metric tons. ATIP is the process of negotiating contracts that will make this mining project increasingly profitable. ATIP, a subsidiary of American Technologies Incorporated Group (ATIG ATIG Asthma Targeted Intervention Grant (Australia) ), upon receiving the license has gone into immediate exploration and development. The mining area consists of 586 hectares and currently produces Ilmenite ilmenite (ĭl`mĕnīt), black mineral, iron titanium oxide, FeTiO3, crystallizing in the hexagonal system. It is sometimes found as tabular hexagonal crystals but occurs more commonly as small grains in igneous and metamorphic , Rutile rutile, mineral, one of three forms of titanium dioxide (TiO2; see titanium). It occurs in crystals, often in twins or rosettes, and is typically brownish red, although there are black varieties. , Zircon zircon Silicate mineral, zirconium silicate, ZrSiO4, the principal source of zirconium. Zircon is widespread as an accessory mineral in acid igneous rocks; it also occurs in metamorphic rocks and, fairly often, in detrital deposits. and Monazite monazite (mŏn`əzīt), yellow to reddish-brown natural phosphate of the rare earths, mainly the cerium and lanthanum metals, usually with some thorium. Yttrium, calcium, iron, and silica are frequently present. in commercial quantities. As of now testing has only been completed down 2 meters deep to show an estimated 5.5 million metric tons of reserves. Additional testing will likely prove a much larger reserve as it is expected ore content will increase as testing goes deeper. ATIP's current production capabilities allow for the separating and processing of 4000 m/t of ore per month. Although ATIP currently has contracts in place, the company has major plans to ramp up Ramp Up To increase a company's operations in anticipation of increased demand. Notes: A company might 'ramp up' operations if they just signed a contract creating substantially more demand for their product. See also: Demand, Economies of Scale sales and production. Currently talks are underway to enter into a joint venture with a US based company for the purpose of bringing in machinery to increase monthly output to 25k m/t per month. ATIP is also in negotiations with a large global mining group to install Vietnam's first synthetic rutile processing facility. This value added process See VAP. will allow ATIP to increase titanium operation's revenue by 700% and net profit by 600%. ATIP endeavors into mining titanium increases the overall value to the company and will provide for stability in revenue for the future. About ATIP ATI (ATI Technologies Inc., Markham Ontario, http://ati.amd.com) A leading manufacturer of graphics chips and display adapters. Founded in 1985 by K. Y. Ho, Benny Lau and Lee Lau, ATI chips and boards are widely used by OEMs. Petroleum is a United States-based exploration management and operation company engaged in negotiating and managing production sharing contracts for petroleum and other natural resources. The Company evaluates, performs and/or purchases geological and geophysical data regarding exploration sites throughout North America, South East Asia and the African Continent, including offshore and onshore prospects. ATI Petroleum holds production sharing contracts in five major blocks in Vietnam, Tunisia and the Ivory Coast. The Company is a member of ATI GROUP and is listed on the French Stock Exchange, Euronext Paris. For more information regarding this article please contact Mr. Corey Moore VP Sales & Marketing, ATI Mining - A Division of ATI Petroleum by email at: corey@ativietnam.com or by phone at +1-817-933-1420. Forward-Looking Statements Certain statements contained in this press release may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: risks related to the integration of acquisitions and the ability to market successfully acquired technologies and products; the ability of the Company to effectively compete; the inability to adequately protect Company intellectual property and the potential for infringement or breach of license claims of or relating to third party intellectual property; risks related to data and information security vulnerabilities; ineffective management of, and control over, the Company's growth and international operations; adverse results in litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. ; and changes in and a dependence on key personnel, as well as other factors. In addition to these factors, actual future performance, outcomes, and results may differ materially because of more general factors including (without limitation) general industry and market conditions and growth rates Growth Rates The compounded annualized rate of growth of a company's revenues, earnings, dividends, or other figures. Notes: Remember, historically high growth rates don't always mean a high rate of growth looking into the future. , economic conditions, and governmental and public policy changes. The forward-looking statements included in this press release represent the Company's views as of the date of this press release and these views could change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company's views as of any date subsequent to the date of the press release. |
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