Brookmount Receives a Bid to Build a 350 Ton Plant for Its Mercedes 100 Project
01 October 2010 - 3:12AM
Marketwired
Brookmount Explorations, Inc. WWW.BROOKMOUNT.COM, (OTCBB: BMXI)
(FRANKFURT: B6T) The Management of Brookmount has received a bid to
fabricate a 350 ton/day concentration plant in Huancayo, Peru for
Brookmount's Mercedes 100 property. The bid provided by C & F,
S.A.C. is for $250,000.00 including contingencies to be completed
within 90 to 120 days.
As outlined in its most recent business plan, Brookmount
Management has been trying to bring its Mercedes 100 project into
limited production with a 350 ton/day operation. Management had
initially proposed to ship 350 tons of ore to an off-site
processing plant for processing and final sale. However, with the
proposal from C & F the Company has made a decision to process
its own ore which will significantly improve the projected cash
flows. A report prepared by a qualified metallurgical engineer
estimates that the projected revenues from its operations would net
(before taxes and royalties) approximately $2 million per month
with gold valued at $1,000.00/oz and silver at $15.00/oz which is
approximately 30% discount to the current market values.
Brookmount's keystone Mercedes 100 project is located in a
prolific mining region which hosts some of the largest mining
operations in Peru such as Volcan's Cerro de Pasco and Doe Run's
huge smelter and mining operations at La Oroya, plus numerous other
large deposits and mining operations. Work to date on the project
has indicated the presence and significant potential of the project
for gold, silver, zinc and lead.
Currently, Brookmount management is continuing its work on the
permitting process to bring Mercedes 100 into limited production of
about 350 tons/day which would provide it with ongoing revenues
while carrying on further exploration work on the property that
Brookmount expects will prove up the property's excellent potential
to host much larger mineral resources. Brookmount is also seeking
additional financing to accomplish its objectives as outlined in
its business plan.
Safe Harbor: This news release may include forward-looking
statements within the meaning of Section 27A of the United States
Securities Act of 1933, as amended, and Section 21E of the United
States Securities and Exchange Act of 1934, as amended with respect
to achieving corporate objectives, developing additional project
interests, the Company's analysis of opportunities in the
acquisition and development of various project interests and
certain other matters. These statements are made under the 'safe
harbor' provisions of the United States Private Securities
Litigation Reform Act of 1995 and involve risks and uncertainties
which could cause actual results to differ materially from those in
the forward-looking statements.
Contact: Peter Flueck Email Contact 206.497.2138
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