HASBROUCK HEIGHTS, N.J. / December 5, 2013 / ACCESSWIRE / All Grade Mining (OTCBB: HYII), a development-stage company focused on the extraction of iron ore, today provided an update for its recently acquired Plateada Copper Sulfide Project, a 90 hectare property located approximately 55 kms southeast of Ovalle, Chile in the commune of Combarbala.

The Company has been issued all of the necessary permits to sell copper by the Chilean National Mining Corporation, ENAMI. Additionally, management has held discussions with ENAMI regarding the issuance of a grant to All Grade Mining for the expansion of smaller workings on its Plateada mine.

All Grade Mining expects to finalize negotiations with contractors this month at which time they will begin loading and selling copper from the Plateada property. The Company will also be evaluating three concentration plants located close to its property in an effort to produce higher grade concentrate than what had been previously produced.

“We are very excited to announce our plans to expand the scope of our Plateada Project. We are confident that through a possible grant by ENAMI and our efforts to produce higher concentration copper sulfide, we will be able to double the previous monthly revenue of $100,000 generated from the property. We expect to begin generating cash flow from Plateada within the next month and be profitable within six months,” commented All Grade Mining’s CEO, Gary Kouletas.

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 copper 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: www.AllGradeMining.com.

Safe Harbor Statement

This release includes forward-looking statements, which are based on certain assumptions and reflects management's current expectations. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations.Some of these factors include: general global economic conditions; general industry and market conditions, sector changes and growth rates; uncertainty as to whether our strategies and business plans will yield the expected benefits; increasing competition; availability and cost of capital; the ability to identify and develop and achieve commercial success; the level of expenditures necessary to maintain and improve the quality of services; changes in the economy; changes in laws and regulations, including codes and standards, intellectual property rights, and tax matters; or other matters not anticipated; our ability to secure and maintain strategic relationships and distribution agreements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Contact:

888-959-7095
ir@allgrademining.com

 

Source: All Grade Mining Inc.