Update as of August 25th, 2008
8-25-2008
From the desk of Russell Twiford, Vice President in charge of Research.
To our stockholders and interested parties:
We are making headway with our gold recovery at a rate of .79 ounces recovery per 500 gallons or 1.6 ounces per 1000 gallons pending purity results. We have sent samples to a very reputable lab in Southern California to be analyzed by Scanning Electronic Microscope / Energy Dispersive X-ray (EDXRF) for purity. We have also been sending palladium samples to the same lab and have had favorable test results.
We are working our way to continuous production with our gold recovery process. We have been processing 25 tanks containing 20 gallons each, for a total volume of 500 gallons. We will increase our volume next week by processing 25 tanks containing 40 gallons each, for a total volume of 1000 gallons, and are looking to continue to increase volume in the very near future.
We are still communicating with our friends from Canada and the general consensus is very optimistic. We have a meeting scheduled for the first part of September to discuss future relations.
Much to our dismay we are still trying to have our audit completed and hope to have it wrapped up in the very near future.
This communication to shareholders and the public contain certain forward looking statements. Actual results may vary materially from those indicated by such statements. All statements, other than statements of historical fact, included herein, including, without limitation, statements regarding estimated reserves, estimated future production, and the value thereof, are forward looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.