Printer Friendly

GTSO Partner DVA Arranges Purchase for Over $780,000 of Mining Equipment for African Mineral Excavation.

SAN JOSE, Calif. -- Green Technology Solutions (OTCBB: GTSO) mining subsidiary GTSO Resources announced today that its joint venture partner Diamond V Associates (DVA) has purchased over $780,000 for wash plant equipment to be shipped to Africa to aid in mineral excavation from its mining concession in West Ghana.

The equipment is manufactured by Madden Steel Inc. (MSI), a Colorado-based leader in mining product industry. GTSO views the purchase of this necessary equipment as a major step toward developing profitable mining operations, first in Ghana and then elsewhere in the world.

"We're very excited our joint venture partner is moving forward with what we believe could be the first of many lucrative operations in Ghana," said GTSO CEO Paul Watson. "This purchase of equipment by our partner DVA represents huge step forward in the establishment of mining operations in the country while Kirk Bastian continues to collect samples from other concessions for additional rare and precious minerals."

Last month, DVA and its partner the Africa Support Network (ASN) acquired a large mining concession in Western Ghana within a region that has been mined extensively by major corporations including Newmont Mining Corp. (NYSE: NEM). GTSO's partnership with DVA provides support for its CEO, Kirk Bastian, to pursue additional traditional and urban mining prospects in West Africa and elsewhere.

GTSO announced yesterday that DVA is currently interviewing qualified geologists to manage the excavation of gold, tungsten and other precious minerals in West Ghana. The joint venture is awaiting the results of analysis on core samples from DVA's Ghanaian concession to determine the economic potential of excavation there.

GTSO plans to help fund operations in Ghana as part of its initiative to service a fast-growing global appetite for rare and precious metals and compete in an exciting sector that includes FMC Corp. (NYSE: FMC), North American Tungsten Corp. Ltd. (TSXV: NTC.V), Newmont Mining Corp. (NYSE: NEM), and Rio Tinto (NYSE: RIO).

About Green Technology Solutions, Inc.

Green Technology Solutions, Inc. [] is a growth-oriented company exploring rare earth minerals and precious metals production around the world. To learn more, please visit our website at

Notice Regarding Forward-Looking Statements

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements that include the words "believes," "expects," "anticipate" or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company to differ materially from those expressed or implied by such forward-looking statements. In addition, description of anyone's past success, either financial or strategic, is no guarantee of future success. This news release speaks as of the date first set forth above and the company assumes no responsibility to update the information included herein for events occurring after the date hereof.
COPYRIGHT 2012 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2012 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:Business Wire
Geographic Code:1U9CA
Date:Aug 30, 2012
Previous Article:OBJE Seeks Out Talented Concept Artist to Turn Gaming Vision Into Reality.
Next Article:Japanese Group Plans to Employ OriginOil's Algae Harvesting Systems at More Than 100 Sites.

Terms of use | Copyright © 2018 Farlex, Inc. | Feedback | For webmasters