ERDL SHOWS USD $68.4 BILLION ON INTERIM FINANCIAL STATEMENT
HOLDING COMPANY ERDL DOUBLES ITS MINING CLAIMS
Toronto, Ontario (Canada), April 1, 2004 /Pink Sheets News Service/ -- Equity Retirement Distributors (Canada) Limited (ERDL) today announced it has acquired the assets of Steely LLC, (Oregon), including its Mineral Claims issued by the U.S. Department of Interior, Bureau of Land Management, Phoenix, AZ covering parcels of land located In Pinal County, AZ. These parcels cover one and one-half square miles of alluvial mineral claims adjacent to the one and one-half square miles that are already held by ERDL's wholly-owned subsidiary, Fires Glow LLC (Oregon). Fires Glow has precious mineral deposits estimated to be worth nearly $81 Billion.
The $12,500,000/000 purchase price of this acquisition was paid for with shares of ERDL Common Stock by exercising an option that had been acquired earlier. ERDL's President, Allan Sanford, stated "Doubling the size of our mineral claims in the same mineral rich ore body and considering the forecasted increase in the price of precious metals makes this acquisition a real bargain. This should significantly enhance the market value of the company's stock."
According to the Pink Sheet marketplace, ERDL's Common Stock was last traded at $23/share and the Preferred Stock traded at $100/share.
Commercially significant minerals present in these claims include Gold, Silver, Platinum, Palladium, Rhodium, Magnetite, Ilimenite plus sand and gravel/ all of which can be reclaimed in processing. As of March 23, 2004, gold traded at $416/oz, silver at $7.54/oz, platinum at $911/oz, palladium at $290/oz and and rhodium at $760/oz, showing an average value increase per ton of these claims of 28 percent since acquisition.
With regard to mining plans, Rod Beyer, a Chemical Engineer and ERDL's Vice President of Mining Operations has stated: "We are currently exploring new extraction technology which suggests it may be possible to remarkably increase precious mineral recovery. Research that the company has been doing on newly developed mining techniques makes the development of these claims very feasible. This should further enhance the value of this acquisition."
President Allan Sanford added that the company has contacted sixteen major mining companies, located in the U.S., U.K., Canada and South Africa, to solicit their Interest in a Joint Venture project with ERDL to develop these mineral claims. Also, consideration Is being given to the company funding an open pit mining operation on its own, which might commence later this year.
ERDL shareholders may follow this Canadian company and its stock's performance on Pink Sheets at www.pinksheets.com (trading symbol ERDTF) and on the Belize International Stock Exchange at www,bise.bz (located under trading symbols ERDTF and ERDJF).
Forward-Looking Statements: Except for historical Information contained herein, statements are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause the company's actual results in the future periods to differ materially from forecasted projections. These risks and uncertainties include, among other things, energy market volatility, product demand, market competition, and risk inherent to the company's research and development operations.
The above news release has been provided by the above company via Pink Sheets News Service. Issuers of news releases and not Pink Sheets are solely responsible for the accuracy of the such news releases.
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Where the eff is my money?
