Lake Harmony, PA (PRWEB) March 2, 2006
Equitable Mining Corporation (Pink Sheets: EQBM), a growing company focused on finding, acquiring and extracting gold and other mineral reserves worldwide, announced the completion of a memorandum of understanding with D.A.K., a privately owned Chinese resource corporation held by H.M.H. of Hong Kong, to acquire a precious metals mining project in Dalian, China. Once the due diligence is completed and agreements are signed Equitable Mining Corp. will own 35% of all operations and mineral rights. Significant deposits of gold, platinum, palladium, rhodium and copper have been identified in the mine and mine tailings and monthly revenues of $1.6 million are projected.
The Dalian acquisition covers the mineral rights to 220,000 square meters of land leased from the government for 25 years and includes 5.2 million tons of mine tailings plus infrastructure in place including roads, electricity, water, fencing, storm sewer, transportation and one production line. To date $7 million has been invested in the project by H.M.H. and D.A.K. Once the acquisition is complete Equitable Mining Corp. plans to increase production to three lines within the first eight months. The company will utilize D.A.K.’s environmentally friendly leaching process to extract the mineral deposits. For more information, go to http://www.vlcn.com/eqbm3206.htm
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