MONA News MonArc Corporation (MONA) Completes Peru Andrea SA...
Monday, November 24, 2008 7:32 AM
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News for 'MONA' - (MonArc Corporation (MONA) Completes Peru Andrea SA Gold Mine Merger)
BEIJING, Nov 24, 2008 /PRNewswire-FirstCall via COMTEX/ -- MonArc Corporation
www.monacorporation.com
PINKSHEETS: MONA.PK MonArc management is pleased to
announce the closing of the merger with Andrea Gold SA. This merger adds
considerable value to MONA shares with the currently operating and producing
Gold plant in Northern Peru and associated gold leases have an estimated value
of at least 4-5 million dollars.
Key staff of Andrea SA are Mr.Alex Diaz, himself a US trained geologist and his
partner Mr.Pablo Rodriguez a qualified metallurgist. Together they have put
together an excellent team of experienced mining people and the project is a
credit to them. MonArc Corporation intends to name both individuals as one of
its officers and board members of the company shortly.
This project is not only an exploration opportunity, but a project in current
production with the first full week's 24hr production producing in excess of 3
kg or 100 ounces of traditional Inca Gold and 1 kg of Silver. This is a
spectacular result given production only began in August of this year, and is
only processing about 50 tons per day.
Given the closest processor in Peru is more than 600 miles from Andrea SA plant,
this gives a huge advantage in sourcing ore, to supplement the ore from the
company leases.
All ore currently being processed at Andrea Gold SA production facility is
averaging 12 grams per ton, this is extremely rare in the mining industry to be
processing grades as high as this, along with the low wage environment, and
modern, latest technology mill and floatation plant, continues to make this
plant one of the most profitable operations anywhere in the world.
Safe Harbour statement under the Private Securities Litigation Reform Act of
1995: Certain forward information contained in this release contains
forward-looking statements that involve risk and uncertainties, including but
not limited to, those relating to development and expansion activities, domestic
and global conditions, and market competition.
Get the Facts Right. The issuer works hard to continue to keep our shareholders
informed, and news is updated frequently via Press Releases, Pink Sheet
www.pinksheets.com
filings, and updates to our websites. Other websites not
sponsored, or recognized by the Company may provide misleading or disinformation
to investors in order to manipulate trading patterns for a given stock. Always
look for original content from trusted sources, rather than relying on
'excerpts' or discussion boards that may not give you the whole story. The
Securities and Exchange Commission requires financial institutions or brokerage
firms to provide their clients with documentation, describing the risks of
investing in penny stocks.
CONTACT: corporate@monacorporation.com
CONTACT: corporate@monacorporation.com
SOURCE MonArc Corporation (MONA)
www.prnewswire.com
Copyright (C) 2008 PR Newswire. All rights reserved
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INDUSTRY KEYWORD: OTC
SUBJECT CODE: TNM
Source: Comtext Market News
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