United Resource Holdings Group, Inc. Declares Commercial Mining at Dun Glen Mine
27 August 2014 - 3:17AM
Business Wire
United Resource Holdings Group, Inc. (“URHG”) (Pink Sheets:
URHG) announced today that its wholly owned subsidiary, Dun Glen
Mining Corp (“Dun Glen”) began commercial production at the Dun
Glen Mine.
While the plant at the Dun Glen mine began processing ore for
the recovery of gold on August 25, 2014, Dun Glen mine continues
developing the ore pit at a sustained level to sufficiently feed
the processing plant to enable profitable production. Dun Glen’s
contribution from sales of ounces produced will be recorded in the
consolidated statement of earnings for URHG in the third quarter of
2014.
“This is a significant accomplishment for the Dun Glen team and
a pivotal achievement for URHG,” said Mark Kersey, President and
CEO of the Company. “We will have achieved commercial production
during the third quarter—a testament to the hard work and
commitment of the Dun Glen team. From the initiation of leasing of
Dun Glen starting in May of 2011, to completing the NV Bureau of
Mining Regulation & Reclamation permitting process, to
completing construction, to posting the NV Department of Minerals
bond; mining has commenced at Dun Glen.”
Dana Low, Chief Operating Officer for URHG, has been at the mine
during the mobilization phase and inception of production at Dun
Glen. With the mine still in its early days of commercial
production we continue to evaluate various production profiles to
optimize and get the best economic return from the processing of
Dun Glen’s mine.
URHG continues to move forward in the Audit process being
completed by Haynie & Company and with the assistance of its
accounting firm Ingenium Accounting for the year ending 2013.
About United Resource Holdings Group,
Inc.:
United Resource Holdings Group, Inc. is a U.S.-based natural
resource exploration and development company, focused on the
acquisition of mining equipment and the development of placer
mines, gold and other precious commodity projects that demonstrate
a reasonable probability for near term production. In addition, the
company operates a beneficiation process plant that recovers
precious metals from mineral ores and ore concentrates on behalf of
its captive mining properties and on behalf of third party mining
companies. The company is quoted on the OTCPK under the symbol
“URHG”.
Notice Regarding Forward-Looking Statements:
This press release and any related calls or discussions may
include forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995 about URHG.
Forward-looking statements are statements that are not historical
facts. All statements, other than statements of historical facts,
are forward-looking statements. Forward-looking statements include
statements about matters such as: future prices and sales of, and
demand for, our products; future industry market conditions; future
changes in our exploration activities, production capacity and
operations; future exploration, production, operating and overhead
costs; operational and management restructuring activities
(including implementation of methodologies and changes in the board
of directors); future employment and contributions of personnel;
tax and interest rates; capital expenditures and their impact on
us; nature and timing and accounting for restructuring charges,
gains or losses on debt extinguishment, derivative liabilities and
the impact thereof; productivity, business process,
rationalization, investment, acquisition, consulting, operational,
tax, financial and capital projects and initiatives; contingencies;
environmental compliance and changes in the regulatory environment;
offerings, sales and other actions regarding debt or equity
securities; and future working capital, costs, revenues, business
opportunities, debt levels, cash flows, margins, earnings and
growth.
The words “believe,” “expect,” “anticipate,” “estimate,”
“project,” “plan,” “should,” “intend,” “may,” “will,” “would,”
“potential” and similar expressions identify forward-looking
statements, but are not the exclusive means of doing so. These
statements are based on assumptions and assessments made by our
management in light of their experience and their perception of
historical and current trends, current conditions, possible future
developments and other factors they believe to be appropriate.
Forward-looking statements are not guarantees, representations or
warranties and are subject to risks and uncertainties that could
cause actual results, developments and business decisions to differ
materially from those contemplated by such forward-looking
statements. Some of those risks and uncertainties include the risk
factors discussed in the URHG filing on OTC Filings and the
following: current global economic and capital market
uncertainties; the speculative nature of gold or mineral
exploration, including risks of diminishing quantities or grades of
qualified resources and reserves; operational or technical
difficulties in connection with exploration or mining activities;
contests over our title to properties; potential dilution to our
stockholders from the conversion of securities that are convertible
into or exercisable for shares of our common stock; potential
inability to continue to comply with government regulations;
adoption of or changes in legislation or regulations adversely
affecting our businesses; business opportunities that may be
presented to, or pursued by, us; changes in the United States or
other monetary or fiscal policies or regulations; interruptions in
our production capabilities due to unexpected equipment failures;
fluctuation of prices for gold or certain other commodities (such
as silver, copper, diesel fuel, and electricity); changes in
generally accepted accounting principles; geopolitical events;
potential inability to implement our business strategies; potential
inability to grow revenues organically; potential inability to
attract and retain key personnel; interruptions in delivery of
critical supplies and equipment raw materials due to credit or
other limitations imposed by vendors; assertion of claims, lawsuits
and proceedings against us; potential inability to maintain an
effective system of internal controls over financial reporting;
potential inability or failure to timely file periodic reports with
the SEC; potential inability to maintain the listing of our
securities on any securities exchange or market; and work stoppages
or other labor difficulties. Occurrence of such events or
circumstances could have a material adverse effect on our business,
financial condition, results of operations or cash flows or the
market price of our securities. All subsequent written and oral
forward-looking statements by or attributable to us or persons
acting on our behalf are expressly qualified in their entirety by
these factors. We undertake no obligation to publicly update or
revise any forward-looking statement.
Neither this press release nor any related calls or discussions
constitute an offer to sell or the solicitation of an offer to buy
any securities.
United Resource Holdings Group, Inc.Mark A. Kersey,
775-851-4700
United Resources (CE) (USOTC:URHG)
Historical Stock Chart
From Oct 2024 to Nov 2024
United Resources (CE) (USOTC:URHG)
Historical Stock Chart
From Nov 2023 to Nov 2024