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Replies to post #1207759 on MOMO'S BREAKOUT BOARD
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09/20/13 11:05 AM
#1207778 RE: MJNAMONEYZ #1207759
HASBROUCK HEIGHTS, N.J., September 5, 2013 - (ACCESSWIRE) - All Grade Mining (OTCBB: HYII), a development-stage company focused on the extraction of iron ore, today announced that the Company has finalized the acquisition of the Plateada Copper Sulfide Project, a 90 hectare property located approximately 55 kms southeast of Ovalle, Chile in the commune of Combarabala. All Grade Mining decided to acquire the Plateada Project from its primary contractor, Foreign Commerce Consulting, after the property produced 500 tons per month of high grade copper sulfide and superficial copper oxides while showing a considerable presence of other trace elements such as gold and silver over the past two years. Management anticipates the Plateada project will become cash flow positive within seven to nine months. Upon initial production of the Plateada Project, All Grade Mining will actively seek to contract services from a third party mill previously utilized by Foreign Commerce, whereby the Company can produce pure concentrate from mined copper sulfide. This would generate additional cash flow by eliminating significant transportation and production costs. Within approximately 90 days, the Company expects to receive all necessary sales permits from Enami, the National Mining Corporation of Chile. During this period, geologists and engineers will perform detailed technical evaluation of the project to determine the most effective way to expand and excavate the property. Following the technical evaluation process, All Grade Mining will solicit, evaluate and select the necessary contactors to begin working closely on the project with the team previously employed by FCCS. Gary Kouletas, CEO of All Grade Mining, commented, "We are very excited to finalize the acquisition of the Plateada Project and will immediately begin all of the evaluation and permitting processes necessary to begin producing copper sulfide and other precious metals that we believe are abundant on this property. All Grade Mining will continually update shareholders on milestones reached for this project as we expect it will become cash flow positive within the next three quarters." About All Grade Mining, Inc. All Grade Mining is a development-stage company whose mission is to acquire mining concessions in all phases, all sizes and all minerals. The Company is currently focused on the extraction of iron ore in South America, primarily in Chile and has established an experienced team of executives and mining professionals to lead its exploration and excavation efforts. For more information please visit: http://www.allgrademining.com/