INCEPTION MINING INC. Announces First Fiscal Quarter Production
April 21 2016 - 10:15AM
Marketwired
INCEPTION MINING INC. Announces First Fiscal Quarter
Production
SALT LAKE CITY, UT-(Marketwired - Apr 21, 2016) - INCEPTION
MINING INC. (OTCQB: IMII) ("Inception" or the "Company") has
completed its second full operating quarter of the Clavo Rico Mine
as of [March 31, 2016]. The Company assumed management control of
Cerros Del Sur, the mine operator of the Clavo Rico mine operation
in Honduras, in August 2015. Both the mine and operating entity are
wholly owned by Clavo Rico Ltd, the entity that was acquired by the
Company via the previously-announced merger.
We are pleased to announce that the second quarter's production
met our guidance goal of a gold equivalent of 1500 oz per quarter.
These results occurred in spite of continued plant maintenance
upgrades that delayed recovery through the ADR system.
The mine is held to production goals established by the Board of
Directors. The goal is based on the amount of ore (tonnage) and
grade of ore placed on the pad and in process. Those numbers are
not necessarily reflective of the revenue due to the time between
recovery and refining of the ore and the receipt of funds for the
sale. As the mine's production continues to build and stabilize,
the production and revenue should equalize.
The company is focused on making necessary plant upgrades and
improvements to encourage increased production with fewer
interruptions. Operations and maintenance issues have been
exacerbated in Latin America and the Company's team has been
proactive in advance sourcing replacement equipment and improving
the maintenance schedule.
Clavo Rico Ltd's principal mining operations in Honduras,
Central America operates via a majority-owned subsidiary with
positive revenue and significant resources. Its mining concessions
include several historical underground operations dating back to
the early Mayan and Spanish occupation.
The operating entity is engaged in processing a historical
tailings ( > 3gpt) body along with several open pit (3-6 + gpt)
ore bodies, utilizing a new 650,000 ton membrane-lined leach system
and ADR recovery plant.
About Inception Mining Inc.
We are a minerals resource company engaged in the production of
precious metals. Our activities also include acquisition,
exploration, and development of primarily gold related properties.
Our primary target properties are those that have been the subject
of historical exploration having significant supporting data.
Forward-Looking Statements
This news release contains forward-looking information within
the meaning of section 27A of the Securities Act of 1933 and
section 21E of the Securities Exchange Act of 1934 and is subject
to the Safe Harbor created by those sections. This material
contains statements about expected future events and/or financial
results that are forward-looking in nature and subject to risks and
uncertainties. Such forward-looking statements by definition
involve risks, uncertainties and other factors, which may cause the
actual results, performance or achievements of Inception Mining
Inc. to be materially different from the statements made herein.
Specifically, forward-looking statements in this news release
include statements with respect to the potential mineralization and
geological merits of the Company properties. There can be no
assurance statements will prove to be accurate and actual results
and future events could differ materially from anticipated in such
statements.
Inception Mining Inc. disclaims any intention or obligation to
update or revise any forward-looking statements whether as a result
of new information, future events except as required by applicable
securities legislation.
(OTCQB: IMII) 5330 South, 900 E. Suite 280 Salt Lake City, Utah
84117 Michael Ahlin CEO michaelahlin@inceptionmining.com (801)
312-8113 Ext. 101
Inception Mining (PK) (USOTC:IMII)
Historical Stock Chart
From Mar 2024 to Apr 2024
Inception Mining (PK) (USOTC:IMII)
Historical Stock Chart
From Apr 2023 to Apr 2024