ABOT Mining Announces Binding Silver Tailings Purchase & Processing Agreement with its Mexican Operating/JV Partner
WOODLAND HILLS, Calif., Nov. 14, 2012 /PRNewswire/ -- ABOT Mining (Pink Sheets: ABOT.pk) is pleased to announce that it has entered into a legally binding Silver Tailings Purchase & Processing Agreement (the "Agreement") with Rising Star Mining ("Operating/JV Partner") that sets forth terms and conditions for purchase and production of silver tailings ("Tailings") known as the Pueblo Project in Sinaloa, Mexico.
The Company has paid advance monies and has scheduled payments to commence mobilization works for road repair and equipment maintenance. The Company expects to do the trial run of 150 tons of Tailings and subsequently increase throughput to up to 600 tons of Tailings per month.
As reported earlier, in addition to Pueblo Project, the Company also intends to purchase and process gold ore stockpile, which is located within 5 miles radius of its Aztlan 8B Project.
The term of the Agreement is for one year commencing from the date of Agreement with possibilities of rollovers and extensions. The size of each lot of Tailings has been agreed to be a minimum of one hundred and fifty (150) tons per production run.
About the Company
ABOT is a US based mining company engaged in discovering, acquiring, developing, producing, and marketing precious and semi-precious metal properties and is currently headquartered in Woodland Hills, California. ABOT plans to create long term shareholder value by implementing an aggressive exploration program, making new precious metals discoveries and developing mining properties with long-life and low cost operation.
Any statements made in this press release which are not historical facts contain certain forward-looking statements; as such term is defined in the Private Security Litigation Reform Act of 1995, concerning potential developments affecting the business, prospects, financial condition and other aspects of the company to which this release pertains. The actual results of the specific items described in this release, and the company's operations generally, may differ materially from what is projected in such forward-looking statements. Although such statements are based upon the best judgments of management of the company as of the date of this release, significant deviations in magnitude, timing and other factors may result from business risks and uncertainties including, without limitation, the company's dependence on third parties, general market and economic conditions, technical factors, the availability of outside capital, receipt of revenues and other factors, many of which are beyond the control of the company. The company disclaims any obligation to update information contained in any forward-looking statement. This press release shall not be deemed a general solicitation.
Imran Firoz, President
Abot Mining Co.
6303 Owensmouth Avenue | 10th Floor
Woodland Hills | CA 91367
T: +1 818.302.0100
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SOURCE ABOT Mining Co.