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Mining industry

Pearl Asian Mining Industries Announces New Investor Relations Representative and Status of "Operation Gold Finger"

Strategic Insights

— 1 min read

The Philippine-based mining company, Pearl Asian Mining Industries, Inc. (OTC:PAIM), has hired Mr. Richard C. Miller of Georgia to handle its investor relations, aiming to better service its shareholders. Meanwhile, the company's "Operation Gold Finger" project, located on the Island of Masbate, is progressing as scheduled, with the goal of achieving first gold production by the fourth quarter of 2006. The project's target timeline remains intact, despite the Philippine government's recent disturbances, which are deemed to have a minimal impact on the operation.

Key Takeaways:

  • Pearl Asian Mining Industries, Inc. has appointed Mr. Richard C. Miller as its new Investor Relations representative, to enhance shareholder service.
  • The company's "Operation Gold Finger" project is ongoing, with a scheduled deadline for first gold production in the last quarter of 2006.
  • The project's timeline is not affected by the Philippine government's disturbances, considering the remote location of the Island of Masbate and Cebu Island.
  • The company's target is to have 4.5 kilometers of access road constructed, and gold tunnels and underground mines rehabilitated.
  • The customized Gold Processing Plant Design is nearing completion, and the Chemical/Metallurgical Laboratory and Gold Refinery Facility is in the permitting and development phase.
  • The Small Scale Mining Permit (SSMP) for the 20 hectares of the XYZ Gold Project has an estimated mine life of 5 1/2 years.
  • Forward-looking statements by the company involve inherent risks and uncertainties, including risks related to reserve estimates, production costs, and commodity price fluctuations.

Statistics:

  • The Island of Masbate and Cebu Island are approximately 2,400 miles (2,000 kilometers) south of Manila.
  • The Small Scale Mining Permit (SSMP) at the XYZ Gold Project is estimated to have a 5 1/2 year mine life.
  • The company aims to commence gold production in late 2006 and early 2007.
  • The project requires 4.5 kilometers of access road construction.

Sources:

  • Pearl Asian Mining Industries, Inc.
  • OTC:PAIM
  • "Operation Gold Finger" press release

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