Andes Gold Completes Phase I of Its Tailings Operations Beating Earlier Estimates With $300k USD Profit
April 12 2010 - 8:00AM
Marketwired
Andes Gold Corporation (PINKSHEETS: AGCZ) announced today that it
has completed its Phase I Tailings Operation.
The company is pleased to announce that it has completed its
Phase I Tailings Operation first announced in early January 2010.
At the time management estimated that gross value of the tailings
operation would "generate gross value of $700,000." The profit on
this Phase I has come in at $300,000 USD. The strong performance is
accredited to the continued strong bullion price on the global
markets as well as new processing efficiencies on site.
"This tailings operation is an ongoing and profitable part of
the company's strategic plans in addition to the companies regular
production," stated Alex Diaz, President of Andes Gold. In
addition, "The company is proceeding with its Phase II tailings
production on a daily basis with its Chilean Mills processing 40
tonnes of product daily," further stated Mr. Diaz.
Andes Gold Corporation is a gold producing and exploration
company with operations in Ecuador, (South America). In the post
market melt-down of 2008 the world took shelter in the security of
gold pushing the value to over $1,100 USD per ounce by January
2010. Producing gold properties such as Andes Gold will continue to
enjoy increased prosperity which can only improve if the price
continues to climb.
About Andes Gold Corporation:
Andes Gold Corporation is a United States of America registered
public company currently operating a gold mining and exploration
corporation, through its wholly owned subsidiary company Compania
Minera PLS.A. In Ecuador (South America), which controls a Gold
mining and exploration concession called the Miranda Alto. For more
information please visit: www.andesgold-ir.com
Important Information:
About Forward-Looking Statements:
Statements in this press release may be "forward-looking
statements" within the meaning of the Private Securities Litigation
Reform Act of 1995. Words such as "anticipate," "believe,"
"estimate," "expect," "intend" and similar expressions, as they
relate to the company or its management, identify forward-looking
statements. These statements are based on current expectations,
estimates and projections about the company's business based, in
part, on assumptions made by management. These statements are not
guarantees of future performance and involve risks, uncertainties
and assumptions that are difficult to predict. Therefore, actual
outcomes and results may, and probably will, differ materially from
what is expressed or forecasted in such forward-looking statements
due to numerous factors, including those described above. In
addition, such statements could be affected by risks and
uncertainties related to the exploration for and development of
mineralized material, product demand, market and customer
acceptance, competition, pricing and development difficulties, as
well as general industry and market conditions and growth rates and
general economic conditions. Any forward-looking statements speak
only as of the date on which they are made, and the company does
not undertake any obligation to update any forward-looking
statement to reflect events or circumstances after the date of this
release. Information on the Company's website does not constitute a
part of this release.
Contact: Alex Diaz President 1-212-541-2495
www.andesgold-ir.com
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