El Maniel International Inc Enters Into Advance Discussions With Refineries in Hong Kong SAR, China; Gold Trading Arm to Supply
March 10 2011 - 1:56PM
El Maniel International Inc (Pink Sheets:EMLL) announced today that
the Company has entered into advance discussions with a gold
refinery in Hong Kong SAR, China to supply gold from Ghana, Western
Africa "We are very encourage by the level of interest and demand
for gold in Hong Kong and China and we are expecting to formalize
our negotiation into long-term supply contracts by the end of March
2011 with the first shipment as early as April 2011" states Jamie
Khoo, CEO of El Maniel International Inc "We will capitalize on the
gold buyer's license that was granted to us on January 13, 2011 for
the export of precious metals and hence, our Gold Trading Division
is expected to generate revenue as early as April 2011 becoming
another promising profit centre."
According to the World Gold Council, China's gold demand is
expected to double in 10 years as more investors accumulate and in
the short-term, the demand for gold will be enough to strain global
supplies. China is currently buying 50% of the world's gold
production and this explosive demand is expected to bring the gold
price to record high levels in 2011 as price dips are being seen as
buying opportunity. "We also expect the value of our African assets
to be enhanced by the continued uptrend of gold price which we
believe can very soon chart US$1,600 per Oz," added Jamie Khoo.
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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