SMRS is a Golden Opportunity for Investors Following Acquisition of Balmat Zinc Mine
Star Mountain Resources, Inc. (OTC: SMRS) is a micro-cap mining company currently in the process of re-starting the Balmat zinc mine in St. Lawrence County, New York. Since its foundation in 2009, SMRS has focused its efforts on growing through quality purchases, which is why its acquisition of Balmat is a great step forward.
In 2015, SMRS entered into a three-way definitive agreement with Northern Zinc and Hudbay Minerals. The company acquired Northern Zinc, the business that owned the Balmat zinc mine, with the aim of building it back up into a fully functioning, profitable zinc mine. Since its closure in 2008, Balmat has been maintained as a fully functioning zinc mine, meaning that it has full permits and is in compliance with federal and state regulations. Not only this, Balmat zinc mine is readily accessible and has a fully functioning mill. Although it is currently on maintenance status, SMRS intends to restart Balmat in an effort to transition from ‘junior explorer’ status and become an active producer by the end of 2016.
Aside from the planned upgrades to the ventilation systems and modifications to the diesel equipment, Balmat mine is in extremely good condition. As it stands today, the mill is capable of producing high quality zinc and will be able to start production with minimal investment of time and money. With this in mind, a report, titled ‘Mineral Reserves at the Balmat Mine, St. Lawrence County, New York’, was prepared by SMRS in order to make public the current status of the mine, as well as to give an estimate of the mineral reserves available. The information in this report is based on findings from Star Mountain Resources, and it estimates that the project should last at least 2.5 years, at the end of which the project should see a profitability index of 1.2 percent.
SMRS has positioned itself strongly within the mining industry. Within the next year, the company expects to be producing a high quality concentrate of zinc. This, combined with its focus on responsibility toward the ecosystem and local communities, as well as its ongoing goal of reducing chemical and carbon footprints, should give SMRS an unparalleled mining experience moving forward.
For more information, visit www.starmountainresources.com