Apolo Gold Makes Announcement.Business Editors VANCOUVER, B.C.--(BUSINESS WIRE)--July 25, 2000 Apolo Gold Inc. Tuesday announced that the company was listed for trading on May 16, 2000, on the Nasdaq OTC Bulletin Board OTC Bulletin Board An electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system. , under the symbol "APLL APLL Analog Phase-Locked Loop APLL Associate Product Lead for Logistics (FAA) ." The company holds a concession considered to be a volcanogenic vol·ca·no·gen·ic adj. Of volcanic origin. diamond bearing and gold deposit, in southeastern Venezuela, consisting of 2,400 hectares (approximately 4.5 miles by 1.5 miles). Average depth on testing to date has been 30 feet. A bulk test program was undertaken between December 1999 and July 2000 consisting on average of 150 yards per day, and a total of $101,000 of gold and diamonds were recovered. A geologist hired by the company to assist in its production program has estimated that the area explored to date (being 0.5 miles by 0.5 miles) contains approximately 45,000,000 yards of material for processing. Testing to date has shown recoveries of 1 gram of gold per yard (31.5 grams per ounce) and .10 carats of diamonds per yard (1 carat CARAT, weights. A carat is a weight equal to three and one-sixth grains, in diamonds, and the like. Jac. L. Dict. See Weight. averages $65.00). These estimates are not proven reserves and actual results from full production could result in substantially lower recoveries. All equipment required for full production has been installed at the site and the company has been going through a testing process of the systems prior to anticipated production of 1,000 yards per day August 2000. All equipment was acquired in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. and shipped to Venezuela. Delays were encountered because of unusual weather conditions between the port and the property in Venezuela, resulting in a three-month delay in commencement of production. There is no further equipment required to commence operations. The company expects to operate 24 hours per day, 25 days per month, 300 days per year, and expects production of 1,000 yards per day in August to reach 2,000 yards per day later in the fall of 2000. Martial Levasseur -- President This press release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. , within the meaning of section 21E of the Securities Exchange Act of 1934, that involve risks and uncertainties. These forward-looking statements are not guarantees of future performance. They are subject to risks and uncertainties related to business operations Business operations are those activities involved in the running of a business for the purpose of producing value for the stakeholders. Compare business processes. The outcome of business operations is the harvesting of value from assets , some of which are beyond control. Actual results may differ materially from those anticipated in these forward-looking statements. |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion