ALMI should continue move up on news this morning - Thursday March 25, 8:31 am ET
100,000 Pounds of Clay to be Shipped
OSBURN, Idaho, March 25 /Xinhua-PRNewswire/ - Atlas Mining Company (OTC Bulletin Board: ALMI - News), a natural resource and mining company, announced today it will immediately begin filling an overseas order for approximately 50 tons (100,000 pounds) of halloysite clay.
Atlas Mining President and CEO William Jacobson said, 'Our immediate focus is to extract and process enough clay to fill this order. We feel confident we'll have this order filled and shipped by the end of June.'
For reasons of competition and its right to conduct confidential research and development of the halloysite, the overseas buyer has requested anonymity at this point.
'We're pleased to have so much interest in our product,' Jacobson continued. 'Our clay is of such high quality, we have not had to seek buyers to this point. They're seeking us.'
The company also announced today a favorable spring thaw at Dragon Mine in Juab County, Utah.
Jacobson, onsite at Dragon Mine said, 'The snow has virtually melted, and the ground is no longer frozen. We're pleased with the overall condition of the mine.' With the exception of some scattered patches of shadow snow on the north face, the entire mine area is free from snow.
The survey team will be onsite, beginning next Tuesday, to plot the best locations for the Mill Site, as well as the underground operation. Following a completed survey, the company expects ground excavation and leveling to begin the first week of April.
'In addition to surveying the surface and making comparisons to our underground charts,' said Jacobson, 'clearing and leveling certain operational areas on the surface will begin as quickly as possible. We need to have a concrete floor in place for the KDS processing plant, and expect to pour within the first ten days of April. The quicker we get the clay out of the ground, the quicker we'll get this first batch out to our overseas buyer,' Jacobson concluded.
The Dragon Mine is a rich cache of the mineral 'halloysite'. Historically, halloysite has been used in the manufacturing of bone china, fine china, and porcelain products. However, internal and other chemists and scientists have discovered new uses for the processed mineral. The Dragon Mine halloysite also has a unique tubular quality, not unlike a grain of rice, only considerably smaller and hollow. The halloysite microtubules can act as a time-release capsule, dissolving over time, and can be filled with such things as antifouling paint, antiscalants, herbicides, pest repellents, and other agents which could benefit from a controlled release.
About Atlas Mining Company
Atlas Mining Company is a diversified natural resource company with its primary focus on the development of the Dragon Mine in Juab County, Utah, the only known commercial source of halloysite clay outside of New Zealand. The unique purity and quality of the Dragon mine halloysite is unmatched anywhere in the world and has spawned considerable research into new and exciting applications for this product. Atlas also holds mining and timber interests in Northern Idaho, and operates an underground mining contracting business. Atlas stock trades on the OTC Bulletin Board under the symbol "ALMI". More information about Atlas Mining Company can be found at www.atlasmining.com.
Safe Harbor Statement
As a cautionary note to investors, certain matters discussed in this press release may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such matters involve risks and uncertainties that may cause actual results to differ materially, including the following: changes in economic conditions; general competitive factors; the Company's ability to execute its business model and strategic plans; and the risks described from time to time in the Company's SEC filings.
The forward-looking statements contained herein are subject to certain risks and uncertainties that could cause actual results to differ materially from those reflected in the forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect management's analysis only as of the date hereof. The company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date thereof. Readers should carefully review the risks described in other documents the company files from time to time with the Securities and Exchange Commission, including the Annual Report on Form 10K for the fiscal year ended December 31, 2002, as well as the Quarterly Reports and Current Reports on Form 8-K by the company.
For more information, please contact:
John Roskelley, President of First Global Media
Tel: +1-602-228-1791
Email: jroskelley@yahoo.com
