Gulf Resources announces the commencement of trial production in its first brine water and natural gas well field in Sichuan ...
January 20 2017 - 8:00AM
Gulf Resources, Inc. (Nasdaq:GURE) ("Gulf Resources" or the
"Company"), a leading manufacturer of bromine, crude salt and
specialty chemical products in China, today announces the
commencement of trial production in first brine water and natural
gas well field in Sichuan Province.
“Gulf Resources is very pleased to continue its progress in
Sichuan by commencing trial production in its first brine water and
natural gas well field,” stated Liu Xiaobin, the CEO of the
Company. “We are testing all aspects of the well. After we are
satisfied with the progress, we will secure a customer for our
production.”
“We promised investors,” Mr. Liu continued, “We would be
transparent and post photographs of our progress. If you go to
http://www.gulfresourcesinc.com/resource-reserves.html you
will see photographs of the pumping station with a tanker truck,
the compressor, the wastewater purification tank, and the control
panel in operation.
“We are very excited about the opportunities for natural gas
production and brine production in Sichuan Province,” Mr. Liu
concluded. “China has limited supplies of natural gas, which is a
clean burning fuel. The government has indicated its intention to
promote the development of natural gas. We are very pleased to have
the potential opportunity to be a part of this growth.”
About Gulf Resources, Inc.Gulf Resources, Inc.
operates through four wholly-owned subsidiaries, Shouguang City
Haoyuan Chemical Company Limited ("SCHC"), Shouguang Yuxin Chemical
Industry Co., Limited ("SYCI"), Shouguang City Rongyuan Chemical
Co, Limited (“ SCRC”) and Daying County Haoyuan Chemical Company
Limited (“DCHC”). The company believes that it is one of the
largest producers of bromine in China. Elemental Bromine is used to
manufacture a wide variety of compounds utilized in industry and
agriculture. Through SYCI, the company manufactures chemical
products utilized in a variety of parts of Asia. DCHC was
established to further explore and develop natural gas and brine
resources (including bromine and crude salt) in China. For more
information, visit www.gulfresourcesinc.com.
Forward-Looking StatementsCertain statements in
this news release contain forward-looking information about Gulf
Resources and its subsidiaries business and products within the
meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6
under the Securities Exchange Act of 1934, and are subject to the
safe harbor created by those rules. The actual results may differ
materially depending on a number of risk factors including, but not
limited to, the general economic and business conditions in the
PRC, future product development and production capabilities,
shipments to end customers, market acceptance of new and existing
products, additional competition from existing and new competitors
for bromine and other oilfield and power production chemicals,
changes in technology, the ability to make future bromine asset
purchases, and various other factors beyond its control. All
forward-looking statements are expressly qualified in their
entirety by this Cautionary Statement and the risks factors
detailed in the company's reports filed with the Securities and
Exchange Commission. Gulf Resources undertakes no duty to revise or
update any forward-looking statements to reflect events or
circumstances after the date of this release.
CONTACT:
Gulf Resources, Inc.
Web: http://www.gulfresourcesinc.com
Director of Investor Relations
Helen Xu (Haiyan Xu)
beishengrong@vip.163.com
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