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Southwest Resources Executes Binding Memorandum of Understanding to Form Joint Venture for Arizona Mining Operation
Date : 05/14/2010 @ 4:05PM
Source : PR Newswire
Stock : Southwest Resources (OTC) (SWRS)
Quote : 0.0902 -0.0248 (-21.57%) @ 9:19AM
Southwest Resources Executes Binding Memorandum of Understanding to Form Joint Venture for Arizona Mining Operation
Southwest Resources Executes Binding Memorandum of Understanding to Form Joint Venture for Arizona Mining Operation
PR Newswire
DALLAS, May 14
DALLAS, May 14 /PRNewswire-FirstCall/ --
Southwest Resources, Inc. (Pink Sheets: SWRS) (the "Company"), a natural resources exploration, production, and mining company, today announced that its subsidiary, Southwest Mining & Metals, LLC, has executed a binding memorandum of understanding (the "MOU") to form a joint venture with Russell Jaffe to own and operate a placer mine located in southern Arizona.
An assay of the site was performed by an Arizona State certified laboratory in July 2009. The assay, which can be found on the Mining section of the Company's website, indicates the presence of over one million ounces of precious metals comprised mostly of gold and platinum. This assay utilized core samples from the site's surface to 10-foot depths, and management believes there is a likelihood that similar precious metals concentrations will exist well beyond 10 foot depths. The Company intends to utilize existing, proven technology to perform the mining operations.
Under the terms of the MOU, Mr. Jaffe will contribute his ownership of the mining claim to the new joint venture entity in exchange for Southwest Resources' payment of a total of $2.5 million over a twenty-four month period. The Company will be a 50/50 joint venture partner with Mr. Jaffe, and each will share the costs of constructing an onsite processing facility and its subsequent operations.
The Company's management expects the mining operations to commence by the third quarter of 2010.
About Southwest Resources, Inc.
Southwest Resources, Inc. is an energy and mining company engaged in the acquisition, development, exploration and production of natural gas, crude oil, placer deposits of precious metals such as gold and platinum, and other income-producing natural resources. The Company is currently pursuing oil and gas properties in Texas, Oklahoma, New Mexico and Arizona and has mining rights in Utah. For more information, please visit the Company's website: www.southwest-resources.com.
Forward-Looking Statements Disclosure
This press release may contain "forward-looking statements" within the meaning of the federal securities laws. In this context, forward-looking statements may address the Company's expected future business and financial performance, and often contain words such as "anticipates," "believes," "estimates," "expects," "intends," "plans," "seeks," "will," and other terms with similar meaning. These forward-looking statements by their nature address matters that are, to different degrees, uncertain. Although the Company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can provide no assurances that these assumptions will prove to be correct. In connection with the "safe harbor" provisions of the federal securities laws, including the Private Securities Litigation Reform Act of 1995, important factors that, among others, could cause or result in actual results and experience to differ materially from the Company's anticipated results, projections, or other expectations are disclosed in the Company's filings with the Securities and Exchange Commission. All forward-looking statements in this press release are expressly qualified by such cautionary statements, risks, and uncertainties, and by reference to the underlying assumptions.
Investor Contact:
CSIR Group, LLC
Christine Petraglia
212-386-7082
info@csirgroup.com
SOURCE Southwest Resources, Inc.
Reports out!!!
Quarterly
http://www.otcmarkets.com/otciq/ajax/showFinancialReportById.pdf?id=32032
Annual - Supplemental SS only
http://www.otcmarkets.com/otciq/ajax/showFinancialReportById.pdf?id=32033
Check this out!
Essentially Yours web site
Who is running this EYII affiliate?
EYII number one on breakout board.
Lots of eyes on this going into tomorrow.
Could be very interesting.
I will be standing there with you.
Post Unavailable
Additional Information
Post Unavailable
Additional Information
Hoping for several PR's this week. Lots to update.
BEDA is the one for me this week. It's due.
Hope all had a great Mothers Day
***IMCC*** .001 up, getting some hits, low floater (34 mil) a little volume sends it.
You are absolutely correct. .0008 needs to hold. One of the reasons I was drawn to this was Claytraders tech chart showing .001 as a solid base.
Hey new to this board, I picked up a small position this week, looking to add alot more tomorrow, did the news from Tuesday get out, seems it had no effect on PPS?
Looking for big things from ZIPZ
ZIPZ - .0009 Float: 194,759,527 as of Mar 17th 2010
News yesterday
Zippi to Review Mobile and Web Based Applications for Future Acquisition
SAN JOSE, Calif, May 05, 2010 (eTeligis.com via COMTEX) Zippi Networks, Inc. (Pink Sheets: ZIPZ), a leading provider of mobile and web-based applications, today announced its plans to begin reviewing acquisition opportunities in the mobile and web based applications market. In addition to the company's current and future applications to be developed in house, Zippi is targeting current applications that have achieved market rank, user base, and revenue in all categories as potential candidates.
As Zippi moves its existing asset base to an application based deliverable, the growth in mobile and web based applications continues to increase. Technology advancements have made it possible to rapidly deploy and manage otherwise complex transactions through the distribution of simple interactive applications. Zippi believes its brand lends itself to this new medium with fun, fast, and simple being communicated in the company's name.
Robert A. Rositano Jr., CEO of Zippi Networks, Inc., stated,"Being in and around the internet when the World Wide Web first became a reality, it is relatively easy to see that applications are moving as fast, if not faster than the appearance of web sites back in the early '90s. Zippi has developed many products and services that will soon be offered exclusively through its new applications, and intends to build and acquire significantly more application assets in the coming months. Applications are the future of distribution and rich content experience," said Rositano Jr.
Zippi is encouraging individuals and companies to submit mobile and web based applications for review and potential acquisition offers to the following address: appreview@zippi.com; all submissions should be accompanied by name, rank, revenue, user numbers and direct link to download the app.
About Zippi Networks, Inc.:
Zippi (TM) Networks, Inc. (Pink Sheets:ZIPZ) - News, founded in 2006 and headquartered in San Jose, Calif., is a leading provider of mobile and web-based applications. The company utilizes Mobile application technology and social networking to provide consumers with simple, flexible, and easy to use mobile applications that adapt to the needs of our everyday lives.
The BEDA clock is ticking. I guess we wait for the elusive PR.
Time for BEDA to roll.
Here's too hoping for a PR tomorrow.
Is Buyins the only the authority that calls in shares or are they regulated by another agency? Just curious. You see alot on shorting but few know how it works.
Hey Bruce, how is this mandatory covering initiated?
Looking for a very strong move here.
Agreed, I think we will hear something tomorrow.
BEDA likes to release news on Wednesdays could tomorrow be the day for buyback figures? hmmm, how much of 400 million has been bought?
BEDA, will fly soon enough. Hold on.
BEDA can't be held down much longer, buyback announcement coming soon. IMO.
Agreed, watching TFBN closely
Great Buy opportunities with BEDA and PFMS.
BEDA news expected as soon as tomorrow.
***IMCC*** -.0007 low float (34 Mil), a couple million in volume sends this. 9 million got it to .002 last week.
***IMCC*** -.0007 low float (34 Mil), a couple million in volume sends this. 9 million got it to .002 last week.
Get your BEDA tickets
BEDA, TFBN, PFMS, TFZI all looking like a strong week.
BEDA for me
New to this board, can I make a pick?
BEDA looking for a breakout
TFBN setting up nicely, should move quick with volume.
TFBN getting volume setting up for another move, get ready.
TFBN setting up for another move, good steady volume at .0002. Hit .0004 last week.
Here comes some love, volume alert
TFBN Getting volume today, lets break into those 3's
TFBN Getting volume
*IMCC* .0007 - radar
low floater moves on air
TFNB bid support could be ready for another run
Interesting, do you have a link?
Here you go, this is a new number I have not seen before. Tried calling so far no answer. Got a follow from him, he is getting me so more info. Will update when I receive.
hello Kevin,
our website is pretty old but we are still in business, what can we do for you? thanks
Javier
310SoCal Mfg
310-538-5980
javier@310socal.com
javier@sewcal.com
----- Original Message -----
From: XXXXXXXXXXXXX
To: sales@sewcal.com
Sent: Tuesday, April 20, 2010 9:27 PM
Subject: Info
I found your web site and was curious if you were still accepting orders via e-mail. Everything looks rather out-dated on your site.
Please let me know if you are still in business and can be reached here.
Kevin
IMCC .001/.0013 good entry.
Volume sends it
Cash machine
Enjoy the ride up.