Balaton's Subsidiary In Discussions With Second Major Aluminum Producer.Business Editors HUTCHINSON, Kansas--(BUSINESS WIRE)--May 4, 2004 Balaton Power Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB Symbol BPWRF) is please to announce that its 100% owned subsidiary, Continental Resources (USA) Ltd. ("CRL CRL - Carnegie Representation Language. Carnegie Group, Inc. Frame language derived from SRL. Written in Common LISP. Used in the product Knowledge Craft. "), has commenced discussions with another major aluminum producer. The increasing demand for aluminum has caused several major companies to request due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. information on the Gandhamardan Deposit, which is the second largest bauxite bauxite (bôk`sīt, bŏk`–), mixture of hydrated aluminum oxides usually containing oxides of iron and silicon in varying quantities. deposit in Asia. As previously announced in March 2004 Balaton's subsidiary holds an 89% interest in the Gandhamardan Bauxite Deposit and 100% of any downstream facilities (alumina plant and aluminum smelter). The Gandhamardan Bauxite Deposit is approximately 6.1 miles long and ranges in width from .2 miles to 1.6 miles. This deposit contains proven reserves in excess of 200 million metric tons of metallurgical grade bauxite averaging 45.75% Al203 and 2.33% SiO2. Gandhamardan's low silica content makes it ideal for the production of alumina by the long established Bayer Process. Balaton's management is excited about the high level of interest in its India bauxite deposit by major aluminum companies and will do its best to maximize shareholder value. Except for historical information contained herein, the statements in this release are forward-looking statements that are made pursuant to the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provision 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 involve known and unknown risks and uncertainties that may cause the companies' actual results in future periods to differ materially from forecasted results. Such risks and uncertainties include, but are not limited to, market conditions, competitive factors, the ability to successfully complete additional financings and other risks. |
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