News - Hiru Corporation (HIRU) Dubai Expansion Gold Processing
Press Release | 04/10/2024
Miami, Florida--(Newsfile Corp. - April 10, 2024) - Hiru Corporation (OTC Pink: HIRU), www.otchiru.com (The Company) proudly announces its launch and entrance into a groundbreaking project closely linked to:
Merger / Acquisition of a prominent gold mine in West Africa. This initiative marks a significant strategic move for the company as it aims to forge partnerships with Central Banks and key stakeholders in Africa to facilitate the procurement of gold. (Note the HIRU newly appointed COO is an affiliate of the West African mine project) More details will follow on the project via separate PR and or OTC filing.
Setting up a regional office in Dubai as a gold trader for its own mine projects and those that the company will operate in a joint venture type formation. (JV) Note: The mines displayed on our new corporate website mining.otchiru.com are JV type projects each in various stages) More comprehensive updates will be released in a separate filing and PR in due course.
In addition to the above, the other primary objective of the Dubai endeavor is to secure gold from various Central Banks and verified sellers across the African continent, aligning seamlessly with our overarching goal of achieving profitable resale in the vibrant gold market of Dubai. Hiru Corporation plans to execute this strategy by purchasing gold at competitive prices, leveraging efficient transportation, and securing necessary licensing arrangements.
As part of our meticulous planning, we intend to procure gold at the London Metal Exchange (LME) World Prices, ensuring competitiveness by offering a discounted rate of 15%. Dubai has been chosen as the prime marketplace for resale due to its dynamic gold market and advantageous tax-free legislation. This regulatory environment enables us to sell gold without imposing Value Added Tax (VAT), thereby maximizing profits for our stakeholders.
"Our foray into the gold market of West Africa represents a strategic milestone for Hiru Corporation," stated management of Hiru Corporation. "We are excited about the potential of this venture and are confident in our ability to deliver value to our shareholders while fostering mutually beneficial partnerships with Central Banks and other key players in Africa."
The Company current capacity capabilities range between $1,5 to $2 million dollars per week in gold transactions. As a Company we aim to achieve a target profit margin of 5% to 7% (market rate) on each transaction, carefully calculated to be both competitive and sustainable in the dynamic gold market landscape. This endeavor underscores our commitment to delivering tangible returns for our shareholders while expanding our footprint in the global commodities market. These projected revenues do not include our current logistics and ecommerce division and operations.
For further information and updates on this strategic turnaround, please follow our news and disclosure section and X account.
More updates will follow shortly on this project and other mining and JV projects.
