El Maniel International Inc Announces Three Quarter Revenue Projections for Kumasko Project in Ghana, Western Africa
March 14 2011 - 9:44AM
Further to the press release dated March 3, 2011, El Maniel
International Inc (Pink Sheets:EMLL) announced today that
production forecast for Plot C - The Kumasko Project in April 2011
is expected to be in the region of 300 Oz generating a forecasted
gross revenue in the region of $420,000 with expected net returns
in the region of 30% of this amount according to preliminary
estimates. "While we are thrilled at the potential of Kumasko
Project with projected revenues from expected gold reserves in the
region of $25 million based on current gold price, we also expect
costs to decline significantly with planned implementation of
operational improvements to optimize production efficiencies"
states Jamie Khoo, CEO of El Maniel International Inc
El Maniel's gold mining operations and gold production on the 25
acres Kumasko Project situated in the Central Region of Ghana,
Western Africa is scheduled to initialize in April 2011 and
forecasted monthly revenue production in Q2 of 2011 is expected to
follow through at the same rate. "We are optimistic of our
projections and we are expecting a ramp-up in production of at
least double the preliminary estimates for Q3 and Q4 of 2011"
according to Jamie Khoo "The strong revenue stream from Kumasko
Project will position El Maniel to pursue its ongoing business
model of expanding its diversified ventures to generate additional
revenue stream with an ultimate goal of enhancing shareholder's
value".
El Maniel International Inc (Pink Sheets:EMLL) is a publicly
traded company currently focused on prospecting, developing and
expanding the economic potential of world class mining claims
located in Ghana , West Africa and the company is committed to
shareholder's value creation by ensuring constant development of
current and new resources in the region. For further information
and updates on El Maniel, stay tuned to
www.elmaniel.com
"SAFE HARBOR" STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION
REFORM ACT OF 1995: The statements contained in this release which
are not historical facts are forward-looking statements that are
subject to risks and uncertainties that could cause actual results
to differ materially from those set forth in or implied by
forward-looking statements. These risks and uncertainties include
the Company's entry into new commercial businesses, the risk of
obtaining financing, recruiting and retaining qualified personnel,
and other risks described in the Company's Securities and Exchange
Commission filings. The forward-looking statements in this press
release speak only as of the date hereof, and the Company disclaims
any obligation to provide updates, revisions or amendments to any
forward-looking statement to reflect changes in the Company's
expectations or future events.
CONTACT: El Maniel International, Inc
Investor Relations Contact:
212-726-2179
ir@elmaniel.com
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