Pahang, Malaysia (PRWEB) January 08, 2014
Verde Resources, Inc. (OTCQB: VRDR) is looking to become part of the growing multibillion-dollar rare earth element industry. The Company is ready to commence exploration at their highly prospective rare earth elements Merapoh Mine and has engaged SRK Consulting to guide the exploration and independent feasibility evaluation. The evaluation report will be done to bankable standards accepted by financial institutions worldwide.
Recent samples taken from the Merapoh Mine in Pahang, Malaysia and assayed at SGS Tianjin Mineral Laboratory have indicated the existence of 15 rare earth oxides. Among them are eight of the more valuable heavy rare earth elements--terbium oxide (Tb4O7), dysprosium oxide (Dy2O3), holmium oxide (Ho2O3), erbium oxide (Er2O3), thulium oxide (Tm2O3), ytterbium oxide (Yb2O3), lutetium oxide (Lu2O3) and yttrium oxide (Y2O3).
What makes the Merapoh discovery so exciting is that three of these are critical rare earth elements especially sought after by industry--terbium, dysprosium and yttrium. These are defined as “crucial” elements to governments including Canada, Australia and the US.
The differing end uses of rare earth metals affect their relative prices. One of the most valuable rare earth oxides – terbium – is in high demand because it is used in TV’s, monitors and energy efficient fluorescent bulbs. This also reflects the importance of rare earth metals to the green economy.
M.D. Wu, President of Verde Resources, said, “We choose SRK for exploration guidance of our rare earth elements potential because it has a demonstrated record of accomplishment. Verde is an exploration stage mining company, which will greatly benefit from SRK guidance. SRK’s team are leading experts in undertaking independent assessments of rare earth deposits and mineral reserves.
“With Merapoh Mine’s assayed samples showing 15 rare earth elements, eight of which are more valuable heavy rare earth elements, SRK will provide accepted independent project evaluation, audit and technical reports all to bankable standards.”
Mr. Wu concluded, “Upon completion of the exploration program guided by SRK Consulting with the confirmation of our rare earth resources at Merapoh mine site, we expect to move forward to the next stage of exploitation works with focus on minimizing risk, controlling cost and reducing production time frame. This is certainly an exciting phase of development for Verde Resources.”
About SRK Consulting
SRK is comprised of over 1,600 staff in over fifty offices on six continents offering expertise in a wide range of engineering disciplines. SRK’s independence is ensured by the fact that it holds no equity in any project and that its ownership rests solely with its staff. This permits SRK to provide its clients with conflict-free and objective recommendations on crucial judgment issues.
About Verde Resources, Inc.
Verde Resources, Inc. is an exploration stage mining company focused on global mining acquisition and development opportunities. Verde owns the management rights of Site IV-1 of the Merapoh Gold Mine in Pahang, Malaysia, which has 4 tons of alluvial gold resources, potential 30 tons of lode gold and has indications of large deposits of Rare Earth Elements.
For more information, please contact Michael Liang: 407-921-7032
Safe Harbor Statement
This release includes forward-looking statements, which are based on certain assumptions and reflects management's current expectations. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Some of these factors include: general global economic conditions; general industry and market conditions, sector changes and growth rates; uncertainty as to whether our strategies and business plans will yield the expected benefits; increasing competition; availability and cost of capital; the ability to identify and develop and achieve commercial success; the level of expenditures necessary to maintain and improve the quality of services; changes in the economy; changes in laws and regulations, including codes and standards, intellectual property rights, and tax matters; or other matters not anticipated; our ability to secure and maintain strategic relationships and distribution agreements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.