AURC
Aurus Commences Procedures to Mine Tailings
Aurus Corp. (PINKSHEETS: AURC), following the acquisition of Krong, has commenced the project of processing technogenic tailings and extracting rare earth and precious metals.
These tailings total 80 million tons and are situated only 95 miles from Moscow.
Gerald Parkin, president, is most pleased to announce that the new technology cuts production costs by over 30%. He adds, "New equipment shall be used in processing the tailings and the advanced technology results in a an average production cost of $217 per ounce. This translates into healthy profits from the first months of operations. There are no galleries or tunnels in processing the tailings and all the minerals are accessible above ground."
The available minerals are:
Gold 80,000 kilograms
Platinum 40,000 kilograms
Silver 1,000,000 kilograms
Cobalt 10,400 tonnes
Molibdenum 3,000 tonnes
Tellur 12,000 tonnes
In addition, there are large quantities of iron, scandium, zinc and tin.
Furthermore, Aurus Corp. has acquired unique technologies which allow it to remove from the tailings neutral waste which remains after processing and this is used to make building materials. This practice is unique in the world rendering even discarded material into revenue producing matter.
About Aurus Corporation
Aurus Corporation is a publicly traded mining holding company with several precious metal properties with over 5 million ounces in gold reserves, trading under the ticker symbol AURC on the US Pinksheets market. Aurus seeks to continue acquire proven gold and other precious metal reserves in Russia and other emerging counties and operate its mines through joint ventures and/or partnerships.
Important Information About Forward-Looking Statements
All statements in this news release that are other than statements of historical facts are forward-looking statements, which contain our current expectations about our future results. Forward-looking statements involve numerous risks and uncertainties. We have attempted to identify any forward-looking statements by using words such as "anticipates," "believes," "could," "expects," "intends," "may," "should" and other similar expressions. Although we believe that the expectations reflected in all of our forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct.
A number of factors may affect our future results and may cause those results to differ materially from those indicated in any forward-looking statements made by us or on our behalf. Such factors include our limited operating history; our need for significant capital to finance internal growth as well as strategic acquisitions; our ability to attract and retain key employees and strategic partners; our ability to achieve and maintain profitability; fluctuations in the trading price and volume of our stock; competition from other providers of similar products and services; and other unanticipated future events and conditions.
Source: Market Wire (November 29, 2006 - 10:25 AM EST)
AI
