China Resources International To Purchase Shandong License
China Resources International is pleased to announce the planned acquisition of a metals mining license in Shandong, which will be the first new major investment move of 2013.
- (1888PressRelease) August 03, 2013 - HUANGPU, China -- According to China Resources International CEO Mr. Yang Wu, all preliminary analyses have been conducted on a site China Resources International will acquire in April of this year. This move would take the company's asset portfolio from three major distinct licenses to four, and CEO Yang Wu claims the move could potentially increase China Resources Internationals 2013 profits by as much as fifteen per cent despite initial costs.
"The site identified for acquisition has demonstrated ore grades of 3.12 g/t and with anticipated cash cost per ounce of $690 will make an excellent addition to the company's asset portfolio, creating value for our loyal shareholders." Mr. Wei Feng
This new investment combined with the capital previously invested in China Resources Internationals Xiaoluo Project suggests large capital costs, but China Resources International's President Mr. Wei Feng insists that the company's authorized share capital will not need to be increased, and that this investment is well within the company budget.
CEO Yang Wu commented further on the planned investment saying "Shandong province is well known to us and our investors as a mineral rich region, and we have located intersecting veins on this site that we are keen to process as soon as possible, so for us the opportunity is one we cannot afford to miss. It is irrelevant whether or not we need to seek funding for such an opportunity, but I can say that we have no need for further funding at this present time."
The acquisition of the Shandong site is scheduled for early April, and work will commence on the site soon after.
Sections of this filing contain forward-looking statements which reflect management's best judgments based on factors currently known but involve significant risks and uncertainties. Actual results could differ materially from those anticipated in these forward-looking statements as a result of a number of factors.
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