MineralRite Completes Acquisition Of Strategic Manufacturing Facility In Lindon, Utah
LINDON, Utah, April 25, 2013 /PRNewswire/ -- MineralRite Corporation (OTCQB: RITE) is pleased to announce the successful acquisition of Goldfield International Inc, In Utah.
In March 2013, MineralRite completed the acquisition and took over operations of Goldfield International Inc,(www.goldfieldint.com ), a premier supplier of alluvial gold, diamond and other gem stone recovery equipment manufactured in the United States.
MineralRite is engaged in the business of mineral processing,certification and sales of precious metals.The company will focus on the extraction of gold and silver from client ore bodies and mine tailings.
With this acquisition MineralRite headquarters has been moved to the location in Lindon, Utah.
"We are extremely excited about this acquisition. Goldfield is cash flow and net income positive and is a great addition for us at this time. Goldfield is a great brand in the mining community and opens up many networks for us. The company was in a maintenance mode in their business and now we will set it into a fast global expansion mode. It will enable us to develop our own ore processing lines in-house and help us move closer to accomplishing our aggressive goals we have set for the company.We have several projects we are working on and this new ability of having our own fabrication facility helps us expedite some of our projects," said Guy Peckham, CEO and President of MineralRite.
MineralRite's new Goldfield brand equipment line has has numerous enquires and sales in the month of March and the new management in place at the fabrication facility successfully completed,sold and shipped multiple units worldwide.
"March was an exciting and challenging month for us to take over operations, make some changes to operations and continue to provide good service to our new and old customers. With the value of Gold continuing to stay above $1300 per ounce, the economics of prospecting and recovery has been growing dramatically and the need for more equipment is constant. All our equipment we are currently producing is already sold and will most likely be air shipped to various locations," said Kent Harmon, President of Goldfield.
ABOUT GOLDFIELD- Goldfield brand of mechanical separation equipment has been in production since 1996 and has been shipped been shipped to customers in 32 countries on 6 continents over the years. Goldfield headquarters and manufacturing facility entails over 40,000 sq feet of space at 55 South Geneva Road In Lindon, Utah.
ABOUT MINERALRITE CORPORATION
MineralRite Corporation is engaged in the processing, certification and sales of precious metals including gold, silver, and the platinum group metals. Using various proprietary and ecologically friendly processes and technologies, the Company extracts precious metals from mining operations ore, reclaimed mine tailings and high value concentrate material.
Safe Harbor statement under the Private Securities Litigation Reform Act of 1995: MineralRite Corporation encourages those interested in our Company to rely only on information included in our filings with the United States Securities and Exchange Commission which can be found at www.sec.gov. Statements released by MineralRite Corporation that are not purely historical are forward-looking within the meaning of the "Safe Harbor" provisions of the Private Securities Litigation Reform Act of 1995, including statements regarding the company's expectations, hopes, intentions, and strategies for the future. Investors are cautioned that forward-looking statements involve risk and uncertainties that may affect the company's business prospects and performance. The company's actual results could differ materially from those in such forward-looking statements. Risk factors include but are not limited to general economic, competitive, governmental, and technological factors as discussed in the company's filings with the SEC on Forms 10-K, 10-Q, and 8-K. The company does not undertake any responsibility to update the forward-looking statements contained in this release.
SOURCE MineralRite Corporation