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ABOT MNG CO
Symbol U : ABOT
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ABOT Mining Announces Full Production Launch Beginning Early 2012
2011-12-23 07:00 ET - News Release
SHERMAN OAKS, Calif., Dec. 23, 2011 /PRNewswire/ -- ABOT Mining (Pink Sheets: ABOT) is pleased to announce its first production plan for beginning of 2012. The total ore allocated to ABOT Mining is estimated to be up to 9 million tons. As reported earlier, initial flotation engineering results from the surface of the ore indicated a recovery value of 89.00% of the Au and Ag and showed 2.51 ounces of Au and 19.00 ounces of Ag per metric ton.
After the initial production run of 1,000 tons of ore in the beginning of 2012, ABOT Mining is planning to increase the tonnage up to 10,000 tons per run subject to agreement with various mills. ABOT Mining further expects feed grade to improve from 2.51 to up to 10.00 ounces of Au per metric ton as the production team access the ore from beneath the surface.
"Beginning of 2012 shall be a watershed moment for ABOT Mining as we will commence full production that will make us a cash flow positive company. Proceeds from operations shall be fully invested to increase the production rate from this allocated tonnage and will concurrently allow us to develop other properties in our portfolio," said Morris Rafi, President of ABOT Mining
