FWIW and for whatever it means.
February 26, 2007 - 4:00 PM EST
EQBM 0.0005 0.0003
Soma Petroleum Limited, Equitable Mining Corp and partners finalize contract with Actel/Aikete, Ltd
TORONTO, Feb. 26 /PRNewswire-FirstCall/ - Soma Petroleum Limited (SOMA) - (Frankfurt Stock Exchange: symbol SA1), Equitable Mining Corp (EQUITABLE) (a resource company trading on Frankfurt Exchange: E5W and on PinkSheets.com: EQBM) and partners announce the finalization of the contract with Actel/Aikete, Ltd ('Actel/Aikete') with an initial cash down payment for the rights to holdings in all assets to include mine tailings, land, capital infrastructure including one production line in exchange for cash and securities.
Actel/Aikete will use the initial funds to acquire chemicals and manpower for the production lines. Also, funds have been allocated to continue the public relations campaign.
The chemicals purchased will utilize a unique methodology of extracting combined metal oxides through a combination of a proprietary bromine leach, resin in pulp, solvent semi-refining and precipitation has been implemented in a current production line with 4 tanks. The metals recovered are in an oxide form and easy to export to the refineries.
'The initial funds for the down payment secures and facilitates the allocation of key personnel resources for the production facility in Dalian, China and also the plan for the capability to increase production capacity very quickly with another production line,' said SOMA CEO Lawrence Skolnik.
