Shareholders, Holders of Share Rights, and Stakeholders of Equity Security Funders and Copper King Mining.
In our last update I mentioned that we would follow-up with more specific information on some of our projects. This is a follow-up outlining our partnership with Scott/West Pac.
Some of you are aware that we have been working with S/WP for a while. When Cherie Tilley and I met with them, Cherie was very impressed with some of the technology they presented to us and with the potential in the concentrates and ore bodies they own. He encouraged me to pursue a business relationship with them as he felt they had “incredible potential.”
We, meaning ESF, are now full partners with Scott West in all of the above mentioned technology and mineral assets. These assets have the potential to add millions of dollars worth of value to the asset base of ESF.
The following is an update on the status of some of the concentrates of S/W.
Lee Abbott
_______________________________
Scott/West Pac Newsletter June 28, 2023
It’s time to update stakeholders and friends on our activities and progress and share our enthusiasm about evolving possibilities.
While some are interested in our promising lignite compression technology, our “rocket science” pump and/or our amazing farming and gardening product, Nature’s Perfect, our current focus is on the important opportunity presented to us by the precious metals concentrates in our possession.
This decision is result of evolving technologies and conditions that have been many years and much effort in the making. We now sense that we are in a very favorable position to move forward and capitalize on these circumstances.
In the past, we have been intercepted by technological shortfall and other conditions that have stymied progress, but we know that we have control of some very valuable assets. We were encouraged early on by highly educated and experienced men, two of whom are Dr. Harvey Mecham and Cherie Tilley. They both advised us to stay the course.
Dr. Mecham was a scientist and university professor (chemistry, microbiology, electronics, nanotechnology) who had also worked at Oak Ridge National Laboratory in Tennessee, Los Alamos National Laboratory in New Mexico and other well known institutions. His wide experience, visionary talents and scientific consultations have been very helpful. Regrettably, he has recently passed away.
Cherie Tilley has been involved in hundreds of mining projects both as a hands-on miner and as an executive of major companies. When he first saw the assay results from our material, Cherie could have been dismissive or even hostile, but he was positive and intrigued. He said, “Well, this is certainly well worth pursuing. You would never find this type of assay result in a head ore, but remember this is a concentrate. So those numbers absolutely can be real.” “The big question is can those complex molecular bonds be broken and the minerals recovered? I would say, YES! Technology is moving forward fast and I think it could happen quickly now.”
True to Tilley’s prediction, over the past few months, we have reached some milestones and obtained encouraging small-scale results in the lab. It has also become apparent that some of these procedures are scalable. Our objective of reaching commercial level extraction and production now seems attainable in short term.
We are at that point with two of our concentrates, the simplest and least expensive to process being the “Omega Ore,” of which there is an abundant supply.
The Omega Ore is a gold-bearing, precious metal concentrate that has shown very high value in lab level test results from highly respected and well known labs. Recognizing that lab tests are not always linearly scalable, our testing suggests that we can achieve high value recovery in expanded volume procedures.
Based on our testing and research we believe over time and with appropriate adjustments to our process we can recover a minimum of 10 ounces of gold per ton. However, we will probably not start at that level of production. Our pro-forma starts at a recovery rate of 2 ounces per ton.
Our pressing objective is to get the Omega Ore into production and begin selling gold into the marketplace ASAP. We are well into obtaining necessary facilities and equipment but need additional funding to complete it.
We still need additional commercial level metallurgical process engineering, purchase or lease of upgraded lab equipment, purchase or lease of processing equipment and lease or purchase of appropriate facilities.
We will provide our Omega Ore pro-forma and other financial projections upon request.
Thank you for your support. If you have any questions please let us know.
Sincerely,
Lee Abbott
ESF, CPRK
Scott/West Pac
