An oldie for the people that have
been here awhile:
Source: El Maniel International, Inc.
Date: March 22, 2011 09:15 ET
El Maniel International Inc Received Overwhelming Enquiries for Supply of Gold; Enters Into Forward Contract to Supply Gold
NEW YORK, March 22, 2011 (GLOBE NEWSWIRE) -- Further to our press release dated March 10, 2011, El Maniel International Inc (Pink Sheets:EMLL) announced today that the Company has received overwhelming enquiries to supply gold and had also entered into forward contract for delivery of the first shipment of 1000 Oz of gold in the form of dore bars by early April 2011 from Ghana, Western Africa via its Gold Trading Arm. "We are thrilled by the interest and the demand for our supply of the physical product and this transaction far exceeds our initial expectations and remains as a significant milestone to the Company" according to Jamie Khoo, CEO of El Maniel International Inc. "Immediate preparations which includes procurement for re-sale from small scale miners by utilizing the gold buyer's license held under the gold trading arm are underway and this transaction which will deliver pilot revenues to El Maniel will also be supported by the ongoing alluvial gold production initiative under Plot C.""As global demand for gold continues to exponentially increase gold prices, El Maniel will benefit tremendously from this domain as we foresee a substantial volume increase in our subsequent shipments of the precious metal and at the same time, the appreciation in the value of our gold assets will create value for the Company in totality as well as significantly enhancing shareholders' value," states Jamie Khoo. "We are working aggressively to capitalize on the prevailing Golden Opportunities towards rapid growth and development of El Maniel."
