I'll second that. Suncrest's enthusiastic PR on the subject mentions acquisition of Kachina and Terra Block. The barter value is not mentioned there. However, the value of the Kachina mine is extrapolated.
TORONTO--(MARKET WIRE)--Dec 5, 2005 -- Suncrest Energy Inc. (Other OTC:SNYY.PK - News) announced today that it has purchased interests in Kachina Gold Corporation and Terrablock Development JV Inc. from First Canadian American Holding Corporation.
“We are very excited by the purchase of these assets from First Canadian,” says David Alexander, President of Suncrest. “Adding these two assets to our portfolio brings the number of acquisitions to four in the last two weeks for our company.”
About Kachina Gold Corporation
Kachina Gold Corporation (www.kachinagold.com) is an innovative new entrant into the white hot gold mining industry. The Company has acquired a working interest in a number of historically producing mining claims located in the prolific gold producing region of Mohave County, Arizona. Kachina's claims were heavy producers over 70 years ago before the limitations of mining technologies forced abandonment. Kachina has established operating agreements with an experienced mining partner, and is already extracting ore out of the ground today. Upon completion of remediation and rework on these claims, Kachina expects to extract approximately 1 ton a year -- or $14.8 million at today's gold prices.
About Terrablock
The Terra Block System features a line of machines developed, perfected and patented by TerraBlock, that manufacture Compressed Earth Blocks. Using common soil as the only raw material. Accomplished by compacting the soil at up to 460,000 lbs. of hydraulic pressure to form a rock-hard construction block. Hydraulic pressure causes the particles to bond together. Just like natural materials formed under great pressure such as sandstone, limestone and diamonds.
TECSTOR stands for Terra Block Encapsulated Cell Storage and is a new, state-of-the-art method for storing low-level, bio-hazardous waste materials. TECSTOR consists of a virtually indestructible facility that was invented by retired NASA engineer and Terra Block founder Robert Gross. The facility provides for the safe and permanent storage of short-lived radioactive materials, such as medical isotopes from hospitals and also ancillary refuse from commercial power plants; filters, clothing, contaminated tools, contaminated earth, power transformers, discarded computers and monitors and the like. These types of materials do not require deep storage.
About SUNCREST ENERGY
Founded in Toronto, Canada, SUNCREST ENERGY (Other OTC:SNYY.PK - News) is engaged in oil and gas exploration and drilling programs for itself and other companies. Our goal is to become a major player in the development of worldwide natural resources to benefit our shareholders and the communities where we operate.
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