Based on the results giving an average of just over 5 gram Au per ton, MII will go into mining by exploration. The estimated total recoverable amount of gold is approximately 200,000 ounces in the hot spot that represents production/exploration reef.
The initial goal is to produce at least 10 kg of gold per month with a start in the beginning of 2011. The total investment is budgeted to approximately MUSD 1,5.
"The result show that our investment in the Moyale project is proving to be right" says Michael Nilsson, CEO of Mineral Invest International MII AB (publ).
Indications and observations are indicating an expectation to produce up to 2 million ounces of gold in the region.
An external partner has decided to join forces with MII and through their own proprietary technology act as our operation partner in the coming commercial phase that we now enter into.
In addition to planning for Moyale, the Company is in the final negotiations of an attractive place for mining operations that could affect the Company's future prospects very positively.
It has been decided in consultation with AktieTorget that the share will be available for trade again from the market opening tomorrow June 30.
About Mineral Invest
Mineral Invest International MII AB (MII) conducts small-scale environmentally friendly production of minerals and metals primarily in Africa. Mineral Invest's goal is to commence production at each object within six months, thus generating a positive cash flow in the short term. In addition to mining operations, the company conducts extensive trading in metals and minerals.
For further information, please contact:
Michael Nilsson, CEO Tel: +46 (0)767 665849 E-mail: michael@mineralinvest.com
See english version in Adobe Acrobat: http://www.aktietorget.se/pressdocs/MineralInvestInternationalMii/55487/MII 20100629 18.pdf
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Mineral Invest: The results from the recent drilling program in Moyale is finalized
The results from the recent drilling program in Moyale is finalized, sampled and tested. The drilling program showed no proven economical mineralization below 100 meters in depth. However, trenching and shallow geochemical sampling verifies earlier exploration results done by the Ethiopian Geology Survey.
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