Verde Resources Updates on Ayigate Gold Project in Xinjiang China
Nevada (PRWEB) December 09, 2014 -- Verde Resources, Inc. (OTCQB: VRDR) is pleased to update that its wholly-owned subsidiary company Gold Billion Global Ltd (“GBL”) has progressed into the final stage of discussion with Xinjiang Changhe Mining Co., Ltd ("XCM") under which GBL has offered to acquire ownership in XCM for the Ayigate Gold Project ("the Project"). The Project involved the Ayigate gold mine located within the Tianshan region in Wuqia County, Xinjiang Uygur Autonomous Region of the People‟s Republic of China. The Project has obtained exploration license covering a total area of 19.88 sq.km. The initial exploration work conducted by China state–owned No. 2 Brigade of the Xinjiang Bureau of Geology and Mineral Exploration in late 2012 has estimated the alluvial gold resources in excess of 268,000 ounces.
At current gold prices, the Company shares the view of gold experts that gold price is grossly over-sold taking into account its extremely bullish fundamentals and should see materially higher gold values going forward. The current low level of gold price would be positive for Verde Resources as it presents the Company with attractive investment opportunities to acquire quality gold mines at low valuations. Verde has identified several other gold mines around the world in which the Company is making evaluation on the investment values. Mr. Wu, President of Verde Resources, said, “Depending on the outcome of our evaluation, we are encouraged by the upside potential of making acquisitions at undervalued costs based on current low level of gold prices.”
Verde Resources remains committed on the long-term value for shareholders through diversification into other valuable mineral resources apart from gold. The Company continues to search for profit opportunities in global mining acquisition and further updates on any acquisition development will be provided in due course.
About Verde Resources, Inc.
Verde Resources, Inc. is an exploration stage mining company focused on global mining acquisition and development opportunities. Through its subsidiary, Verde owns a majority interest in Champmark Sdn Bhd, a mining contractor of the mining lease for Site IV-1 at the Merapoh Gold Mine in Pahang, Malaysia, which has four tons of alluvial gold resources and potential 30 tons of lode gold. Verde is also exploring for potential rare earth elements deposits in various parts of the world.
Website: http://www.verderesources.us
For more information, please contact Michael Liang: 852-215-21223 .
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.
Michael Liang, Verde Resources, Inc., http://www.verderesources.us, +852 21521223, [email protected]
Share this article