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Planet Resource's Raptor Ventures, LLC Enters into Antimony Ore and Gold Sales Contract
BY PR Newswire
— 10:55 AM ET 12/01/2010
HOUSTON, Dec. 1, 2010 /PRNewswire/ -- Planet Resource Recovery, Inc. (PRRY) is pleased to announce that the company's wholly-owned subsidiary, Raptor Ventures, LLC has executed an Antimony Ore Sales Contract with a Chinese entity. Raptor Ventures will deliver to the buyer's agent in Chile 300 Metric Tons of Antimony raw ore to be assayed for final value of Antimony Ore.
Raptor Ventures, LLC commenced operations at its Sorpresa Antimony mine on September 15, 2010. Since commencement of the operation, Raptor has been ramping up production on a weekly basis. This contract represents production to date at the Sorpresa mine. The company anticipates that once the monthly target is attained, this kind of contract will become a monthly sales event.
In addition to the Antimony Ore value, this sales contract may have additional value due to gold content that has been assayed in the production to date. This value will be determined at the processing facility when the Antimony Ore is processed and refined.
CEO Kurt E. Neubauer, Planet stated, "Our goal in 2010 was to commence the generation of considerable sales from our business units and technologies. This contract represents that we are progressing on our goals. I am very proud of our staff in Bolivia. This contract and additional Antimony production, along with the sales being generated with the sale of our PetroLuxus products is a great wrap up of our fourth quarter and gives us a great future in 2011 to grow our top line."