Hong Kong (PRWEB) July 9, 2009
The dividend will remain attached to the stock until the stocks conversion to Buzz Inc shares which will be no later than August 31st, for those who are eager to take their dividend we will begin accepting the transfers on the 7th of August.
A number of significant changes can be expected at Buzz Technologies, Inc that currently trades on the Pinksheets as BZTG.
In the works are a name and cusip change along with updates to the company filings and disclosures. This will be a fast clean automated process.
Buzz Inc Asia Holdings or something similar is the expected new name, a new exchange will be announced later.
This will also make the transfer to Buzz Inc stock and dividend payments easier, faster and extremely accurate.
The following is a summary of the Buzz Inc Resources Division as at July 9 2009. The company mining interests are speculative in nature and acquired for the express intent of proving reserves and on selling the sites mainly to Chinese buyers/investors. Our focus remains firmly on Steel related ores, Gold, Oil and Uranium.
Manganese Ore - Thailand
Certified Reserve of 6m MTU of MN Ore signed by Mr. Suthep Soontrarun Geologist/Mining Engineer acting as Authorized Geologist on Behalf of the Department of Primary Industries and Mines, Ministry of Industry Thailand. This Certificate covers 2 of the 4 sections on the Lanna site. This certification completes an important part of our sales and marketing plan for 2009.
The MN Ore is at the top end of the quality scale and this site is now in production with its first order ready for China.
Iron Ore - Thailand
On our own site we have a reserve, tested but not yet certified of 8m MTU of Iron Ore also in the high end grade, we have further secured the marketing rights to an adjoining 30m MTU of Iron Ore, we have been introducing end users to the reserve but we are not selling any Iron Ore at the moment, there is a strong possibility that the way Iron Ore is sold will change in the near future, further, the price of Iron Ore is far too low to be entering any long term contracts, instead we will take advantage of the time to create interest in the site and offer it for sale as the price improves.
Our sites in Thailand have a distinct advantage over competing sites and that is location, as the Oil price rises the cost of Sea Transport will rise dramatically. Our ore can be trucked, trained or shipped the short distance to China easily.
We are looking at the possibilities of having our own location in China, we would ship our own production directly into China and "retail" it ourselves, and this could make the mining part of the venture worthwhile and would add significantly to the minerals marketing area.
We have a site in Cambodia that was tested in 2002; the result was an estimated 380,000 oz deposit of Gold. The Estimate was done only on 25% of the area and did not involve extensive drilling. What we can say for sure is that the site does contain Gold, how much we cannot really be sure but at least 25% of the site shows a very good hard rock deposit of Gold. We have started a sector by sector study and so far are pleased to confirm 350,000 oz of Gold, we will continue to examine the site further and will report when we have more concrete information.
Oil and Gas Cambodia
Chevron is the big explorer and also our neighbor on a concession we have under contract, no exploration has been done yet. They have estimated the potential Oil Reserve in Cambodia to be worth over $1b per annum.
We hold a concession in Namibia for a very prospective Uranium area, exploration will commence in December 2009.
- Namibia has two significant uranium mines capable of providing 10% of world mining output.
- Its first commercial uranium mine began operating in 1976.
- There is strong government support for expanding uranium mining and some interest in using nuclear power.
While "future sales" of the mining products adds into the billions it is not the intention of Buzz Inc to operate mines in the future unless it is based on very long term supply contracts and/or joint ventures. Our preference is to find, prove and sell reserves.
We look forward to mining becoming a major part of future revenue estimates.