Unico, Inc. Announces Payment of Additional Bond - Amount for Amended Large-Scale Mining Permit -
Unico, Inc. Announces Payment of Additional Bond - Amount for Amended Large-Scale Mining Permit - Tuesday September 19, 9:13 am ET SAN DIEGO, CA--(MARKET WIRE)--Sep 19, 2006 --
Unico, Incorporated - (OTC BB:UCOI.OB - News), a natural resource company in the precious metals mining sector, today announced that the company has increased the amount of a reclamation surety bond posted as part of its amended Large-Scale Mining Operations and Reclamation Plan for The Deer Trail Mine - in Marysvale, Utah.
The State of Utah's Division of Oil, Gas and Mining (DOGM) granted formal approval of the Unico's amended Large-Scale Mining Plan for the Deer Trail Mine - in April 2005.
The reclamation surety has been increased by an additional $22,500 for a total of $158,600 in the form of a Certificate of Deposit issued by Wells Fargo Bank.
Ownership of the CD is retained by Unico as part of the reclamation contract. The reclamation surety covers the area of disturbance on both private and Forest Service land affected by mining operations at the Deer Trail Mine.
The amended Large-Scale Mining Plan allows Unico - to expand the scope of its large mining operation - and execute its long-term plan at the Deer Trail Mine.
Mining operations under the plan may include activities conducted on the surface of the land for exploration, development or extraction of a mineral deposit, including, but not limited to, surface mining and the surface effects of underground mining, on-site transportation, concentrating, milling, evaporation and other primary processing.
"The conditional amendment to the Large-Scale Mining Plan covers additional structures that are being added to the site, primarily due to the reconstruction of the mill and processing facility at the Deer Trail Mine," stated Mark A. Lopez, chief executive officer of Unico Inc.
"As the scope of operations grow and develop at the project, Unico will continue its efforts to comply with DOGM's requirements for permitting and the corresponding reclamation surety," added Mr. Lopez.
Shareholders who would like to sign up to receive information by email directly from Unico, Inc., particularly when new press releases, SEC filings or other information is disclosed, are asked to visit the company's website at http://www.unicomining.com/IR/mailinglist.php.
About Unico, Inc.
Unico, Inc. (OTC BB:UCOI.OB - News), is a publicly traded natural resource company in the precious metals mining sector that is focused on the exploration, development and production of gold, silver, lead, zinc, and copper concentrates at its three mine properties: the Deer Trail Mine, the Bromide Basin Mine and the Silver Bell Mine. For more information, please visit http://www.unicomining.com.
Forward-Looking Statements
This news release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and such Section 21E of the Securities Exchange Act of 1934, ----- are included on certain forms the company files with the Securities and Exchange Commission.
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