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SMRS Expects Significant Revenue from Balmat Mine

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QualityStocks Member Level  Tuesday, 03/01/16 01:19:37 PM
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SMRS Expects Significant Revenue from Balmat Mine

When a mining company announces that they have a significant amount of proven reserves, it is music to a shareholder’s ears. Star Mountain Resources, Inc. (OTC: SMRS) recently reported that its Balmat Mine in New York has a proven and probable reserve estimate of 585,000 tons of 9.2 percent grade zinc that could generate $80.8 million in revenue over an initial 2.5 year mine plan. The company acquired the Balmat Mine back in November 2015, and this kind of news is exactly what has been the stalwart of Star Mountain since it’s beginning – to seek out and acquire solid revenue producing mining projects.

Star Mountain Resources is a junior exploration and mining company focused on acquiring and consolidating mining claims, mineral leases, producing mines, and historic mines with production and future growth potential. The company’s operations are currently focused on base metal and precious metal mining acquisitions in North America and re-commencing mining activities at the Balmat Zinc mine in upstate New York.

There is no substitute for experience, especially in the mining industry. Knowing the history of potential acquisition areas is essential for a company like Star Mountain Resources to continue to grow and prosper from seeking out and pulling the trigger on exceptional acquisition targets such as the Balmat Mine. Joe Marchal, CEO of Star Mountain Resources, stated in a press release about a report on the Balmat Mine, “We believe the findings in the IG7 report are very positive and reaffirm our confidence that the geological and engineering conditions reflected in the long production history of the Balmat mining operation can be sustained well into the future beyond the initial 2.5-year plan. We continue to evaluate the current zinc market and the best strategy to move forward with a production plan and schedule. Moreover, it will form an integral part of our long-range plan for the safe, efficient and effective operation of the mine.”

Good research and timely decision making are themes to take out of this acquisition. Star Resources management had the experience needed to perform all the necessary due diligence before pulling the trigger on the Balmat acquisition. It appears from the initial estimates, along with verification by the IG7 report, that it was a good call.

For more information, visit www.starmountainresources.com

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