Joint Venture >>STHG>>Future is $$revenues projected in excess of $16m.
Stratton Holdings, Inc. Releases Details on Joint Venture for a Multi-Million Dollar Gold Mining Operation in Sierra Leone
2012-01-25 10:00 ET - News Release
MOUNTAIN VIEW, Calif. -- (Business Wire)
Stratton Holdings, Inc. (Pink Sheets: STHG) is pleased to announce details regarding its recently signed Joint Venture for a Gold Mining Operation on the Sewa River in the Bo District and Kenema District of Sierra Leone West Africa, with revenues projected in excess of $16m. The JV is between Sierra Gold Corporation, Inc. and STHG’s partner, Accurate Resource Development Corporation. The first in a series of such ventures, the companies will work together utilizing alluvial mining operations to harvest resource-rich river concessions beginning with a 5-acre plot.
STGH CEO, Cedric Atkinson states, “Aside from the fact that we have proven assay reports from two separate laboratories verifying 18-22 grams of gold per ton, this particular concession is also known as one of the world’s top alluvial diamond rivers.”
As a majority partner in the JV, Accurate Resource Development will deploy a 50-ton per hour mobile placer plant and fully operational support equipment to Sierra Leone starting 2012 with refinement of recovered ore conducted in the U.S. thereafter. “We have managed to keep cost per ounce at no more than $800, with the abilities to produce well over 10,000 oz. by 2014 on this concession alone, giving us tremendous upside potential,” states Atkinson. Finance leader, Goldman Sachs, recently increased its three-month forecast by 7.0% to $1,760 a troy ounce from $1,645/oz., its six-month forecast by 5.8% to $1,830/oz. from $1,730/oz. and its 12-month forecast by 3.8% to $1,930/oz. from $1,860/oz.
In addition to frequent updates on the JV, the company continues to progress with negotiations toward closing deals on attractive concessions in Northern California. Lastly, executives are thrilled to announce that Accurate Resource Development Corporation are in discussions for another concession in British Columbia, Canada. The concession has extensive drilling reports and approximately $1.2 million in drilling costs furnished to date.
“We are in an aggressive expansion phase toward collective benefit; acquiring and/or producing near term mining claims, positioning the company for systematic growth and multiple revenue streams,” states Atkinson. “As well, we’ll be launching our official website soon and we invite existing and prospective shareholders to visit our countdown page at www.STHGgold.com and sign up for our email list for updates and info on everything we do.”
Stratton Holdings Inc. is publicly traded on OTC Markets with a focus on Resource based initiatives such as Gold and mineral mining as well as business operations in other sectors which management feels has potential for long-term growth and/or near-term revenue opportunities.
Contacts:
For Stratton Holdings Inc.
Investor Relations:
Dale Baeten, 920-273-7941
IR@STHGgold.com
Source: Stratton Holdings Inc.
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