AVRG's Current Asset Base is Approaching Two Hundred Million Dollars ($200,000,000).
Under the terms & conditions of the agreement, WPM expects to commence production on or before: June 1st, 2008, at the rate of ten (10) troy ounces of 999.5 purity gold bullion per day, with a guaranteed yield of two (2) troy ounces per ton.
The contract requires an increase in production rate to one hundred (100) troy ounces of gold bullion per day within eighteen (18) months.
Further company projections indicate the expansion of production of gold bullion through the implementation of additional agreements and facilities reaching as high as two hundred (200) ounces per day, during the same period.
In addition to the above production schedule, under the terms of the agreement wpm grants AVRG the right of first refusal for additional processing of one hundred thousand (100,000)-ton increments, of the remaining eight hundred thousand (800,000) tons of certified slag concentrates at the same two (2) troy ounces per ton.
The agreement fixes the cost of processing to AVRG at two hundred eighty six dollars US ($286.00US) per delivered troy ounce of gold bullion, adjusted annually according to posted average costs of production nationally.
President / CEO Richard Dunning stated that, in essence, AVRG now has the potential to produce in excess of two million (2,000,000) troy ounces of gold bullion over the next 10 years, and has a projected asset value of over two billion dollars US ($2,000,000,000US) at current gold prices!
Mr. Dunning further stated, "With gold currently trading well around eight hundred dollars US ($800.00US) per troy ounce, AVRG's current asset base is approaching two hundred million dollars US ($200,000,000US)!"
For further information browse our website at:
Safe Harbor Statement
The information herein has been prepared by or for management of Advanced Resources Group Ltd. Except for the historical information presented. The above statements are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 or regulations there under. These forward-looking statements are subject to risks and uncertainties, and actual results may differ materially. These risks include the economic health of the global economy, competitive pricing pressures, completion of possible acquisitions, success at integrating and operating any acquired operations or strategic partners and the availability of necessary financing. These statements speak only as of above date, and Advanced Resources Group, Ltd. disclaims any intent or obligation to update them.
Advanced Resources Group, Ltd. is a public company traded under the symbol AVRG.
|Printer friendly Cite/link Email Feedback|
|Date:||Dec 3, 2007|
|Previous Article:||Merrill Lynch Names Nelson Chai as Chief Financial Officer.|
|Next Article:||ICF International Completes Acquisition of Simat, Helliesen & Eichner, Inc., One of the World's Largest Air Transport Consultancies.|