To our stockholders and interested parties:  Things have been moving right along, long work hours and lots and lots of trial and error testing both in the lab and in the production facility. But until now we have not had much to update with, so that accounts for the lack of updates as formerly promised.  Our company audit should be completed sometime this week and then we will be in compliance.  This audit has taken much longer than anticipated and has been quite costly.   

The last two weeks we have made tremendous headway in the recovery of our precious metals.  We are continuing to work on our gold production and have now added palladium to our production line.  While we are still in the development stage of palladium production, results have been very favorable.  We have sent samples to our refiner and have been working closely with them to improve our end results.  We have developed a proprietary method of turning palladium black to palladium sponge in house, thereby helping to eliminate any loss, and are excited about future results.  We have also been combining the two metals, palladium and gold, and smelting them with silver to better our results.  Recovery on gold remains consistent with previous reporting.  We are still confident we can significantly increase our numbers on gold, in fact, our recent breakthroughs with palladium may translate to improved recovery on gold.

We have not been able to add platinum to our production line due to the high costs of the needed inquart. After completing lab tests using platinum, I personally feel that we can probably duplicate our palladium results from several production runs but until we get the results from our refiner we do not wish to publish those results except to say that they exceeded our expectations.

For you readers that may not be familiar with palladium here is a little info taken from the internet.

Palladium is a rare and lustrous silver white metal which along with platinum, rhodium, osmium, ruthenium, and iridium comprise what is known as the platinum group metals. Palladium has the lowest melting point and is the least dense of these precious metals.  Palladium is also tarnish resistant, electrically stable and resistant to chemical erosion as well as intense heat and at room temperature can pick up 900 times its volume in gas, etc. which makes it so valuable as an automobile catalyst.

Palladium's precious metal qualities and appearance generate significant consumption in the luxury jewelry market.  Over one half of the supply of palladium and its sister metal platinum goes into catalytic converters.  Palladium is found in many electronics and it plays a key role in the technology used for fuel cells, which combine hydrogen and oxygen to produce electricity, heat, and water.  At one time palladium hit a high of $1100 per ounce but is now trading in the $400 per ounce range.