Calissio Resources Corporate Update and Mining Operations in Mexico
LAS VEGAS, Dec.1, 2014 /PRNewswire/ -- Calissio Resources Group Inc. (OTC: CRGP) is pleased to provide the following letter to shareholders, discussing the recent changes to the Company.
Dear Shareholders,
I would like to take this opportunity to speak directly to our stakeholders regarding Calissio's most recent corporate events.
Rebranding & Restructuring
The most obvious change has been to rebrand the Company as Calissio Resources Group Inc., from the previous name Amarium Technologies Inc.. The name change was enacted to more appropriately and clearly reflect the operations of Calissio as a mineral producer based in Mexico, and not a technology company, as the previous name suggested.
In addition, the Company felt it was important that our name reflect the relationship with our local partner & active shareholder, Industrias Calissio SA (ICS). ICS has facilitated numerous opportunities for Calissio over the past 24 months, and continues to act as both an advocate and representative for Calissio to both local government officials and equipment manufacturers. Our relationship with ICS has been a major factor in the Company's ability to acquire and develop two operating mines in the Michoacán region.
Furthermore, with Calissio now poised to advance to the next stage, management made the decision to implement a corporate restructuring designed to attract a new base of shareholders in both the retail and institutional markets. This plan is consistent with both the short-term requirements for Calissio and the long-term vision to expand the Company.
Operations & Revenues
The Company's primary mineral assets are the wholly owned, Jovita and San Pedro Mines, located in Michoacán, Mexico.
The Jovita Mine is a copper mine that is currently in production with an operating mill on the property. Recent upgrades to Jovita have increased production to the currently level of 200 tons per day (tpd). Also, additional upgrades at the Jovita mine are near complete, to both the mill and the surrounding infrastructure. Calissio expects to increase throughput at Jovita beginning by early 2015, with an expected capacity of 500 tpd. There are currently plans for the Calissio to engage further exploration of the Jovita property, and develop the copper resource estimate.
The San Pedro Mine is a copper mine, also in production, with a recently expanded mill on the property that currently has a capacity of 120 tpd. Due to recently completed upgrades at San Pedro, Calissio plans to begin testing and production increases, as the expected capacity of the mill will be 200 tpd. The Company is currently engaged in an exploration program at San Pedro, that is expected to continue into early 2015.
In addition to San Pedro and Jovita, Calissio announced in August 2014, the acquisition of El Desvan Cobre. Calissio is currently extracting high-grade ore from El Desvan Cobre and shipping it to the San Pedro Mine for processing, to alleviate production gaps caused by exploration activities on the San Pedro Mine. Plans to further develop the El Desvan Cobre property are extensive and currently underway.
The Company recently reported $2.53 million net earnings for the 3 months ending September 30, 2014, from its operations at the San Pedro and Jovita facilities. Calissio expects to use this platform of production and earnings to expand its production through development and acquisitions to take the Company to the next level as a mid-tier mineral producer.
Management
Calissio has secured commitments from a number of highly qualified mining and business professionals to be integrated into the Company over the next several months. The addition of these key personnel and positions within the management team will further establish the technical and professional expertise required for the Company to maximize its expansion going forward.
Corporate Development
One of our fundamental goals over the next 18 months is to graduate Calissio to a senior U.S. based exchange. The opportunities and benefits of a senor listing are of paramount importance for Calissio to continue its rapid growth strategy.
Copper Market
While the current copper market is trading at below historical levels, our long and short-term projections for copper remain bullish. With copper prices currently around US$3 per pound, Calissio remains profitable, with both our San Pedro and Jovita operations. We are diligently continuing to work towards lowering production costs and improving operating efficiencies to increase our opportunities for an improved bottom line going forward.
Website / Investor Relations
We are in the process of updating our investor relations material and the corporate website, both will be available shortly. The Company understands the importance of keeping our stakeholders apprised of corporate developments. Calissio management pledges to make corporate communications a priority moving forward, and we encourage investors to download the updated investor package and contact the Company with any questions they may have.
In Closing & Looking Forward
The Calissio team is extremely motivated and enthusiastic to further elevate the Company into a mid-tier mineral producer. Our management group is also highly confident that this is an attainable benchmark, based on the foundation the Company has built to date and the recent strategic corporate developments. We encourage our shareholders and other interested parties to contact the Company directly and communicate specific questions or concerns they may have as a result of the most recent events.
Yours Sincerely,
Adam Carter
President & CEO
Calissio Resources Group Inc.
Calissio Resources Group Inc., focused on the acquisition and development of base metals projects in Mexico that are currently in or near production and advanced exploration properties that will add substantially to the Company's asset foundation. Management is continuing to actively pursue mineral interests that represent significant growth, value and cash flow opportunities.
For additional information, please visit: http://www.calissioresources.com
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward looking statements concern our anticipated results and developments in the Company's operations in future periods, planned exploration of its properties, plans related to its business and other matters that may occur in the future. These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (words used such as "expects", "anticipates", "plans", "estimates" or "intends", "should" or "will") are not statements of historical fact and may be forward-looking statements. Forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other factors which could cause actual events or results to differ from those expressed or implied by the forward-looking statements. Should any of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated, believed, estimated or expected. We caution readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. We disclaim any obligation subsequently to revise any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events, except as required by law.
Contact:
Calissio Resources Group Inc.
Investor Relations, 1-800-825-2075
[email protected]
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SOURCE Calissio Resources Group Inc.
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