Sloud, Inc. Subsidiary, LionSoar Minerals, Announces Acquisition of Mineral Rights in Sierra Leone
SAN DIEGO, June 28, 2012 /PRNewswire/ -- Sloud, Inc., (Pink Sheets: SLOU) announced today that the company subsidiary, LionSoar Minerals has acquired mining and mineral rights to 100 acre parcel of land in Sierra Leone, known as the Kono Diamond Project.
Tony Khodadad, CEO of Sloud, Inc., states, "The mining area/license/concessions cover .5 square kilometers (Km2)/50 hectares/100 acres, of what is considered to be an active small scale 'Diamond/precious minerals' mining license. Additionally, it is encompassed by square 45 kilometers (sq2 Km) of exploration license, covering four chiefdoms. The concessions in our possession in these Chiefdoms are virgin grounds and no known alluvial diamond mining has taken place.
Exploration work and ensuing feasibility studies, will be undertaken by two local and two international geological engineers in the third and fourth quarter of 2012. In our recent trip to the Sandia region, and bordering our concession, the Russian Mining that occupies two concessions in the area, reported on 25th of April 2012, recovering 2358 carats of diamonds after washing and one single piece which was 84 carats. We understand fully the value in this concession due to the production this particular Russian Mining company is experiencing. It should also be mentioned this Company was the largest exporter of Diamonds in all of Sierra Leone in 2011.
The largest diamond ever mined was discovered in 2002 in the Kono district of Sierra Leone. It weighed 1440ct and was sold for 75 million dollars in Belgium. Other large stones include the 'Star of Sierra Leone', weighed 969.8ct, discovered in February 1972 at the No.11 Plant in Kono; and the Sefadu diamond discovered in the Dominco mine in 1970, weighing 620ct. Prices paid for Sierra Leone diamonds is generally high by world standards, averaging approximately US$400/ct for alluvial diamonds, and considerably more for good quality gems."
About Sloud, Inc.
Headquartered in San Diego, CA, Sloud, Inc. is an international holding company that seeks to build value through the development and support of its subsidiaries and license agreements with product and service providers that coincide with their overall business model. Currently, Sloud is focusing on holdings in the alternative energy, mining, and financial industries. We currently operate two subsidiaries, Leone Asset Management and SouthWest Bio Fuels.
Forward-Looking Statements Disclosure
This press release may contain "forward-looking statements" within the meaning of the federal securities laws. In this context, forward-looking statements may address the Company's expected future business and financial performance, and often contain words such as "anticipates," "believes," "estimates," "expects," "intends," "plans," "seeks," "will," and other terms with similar meaning. These forward-looking statements by their nature address matters that are, to different degrees, uncertain. Although the Company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can provide no assurances that these assumptions will prove to be correct. All forward-looking statements in this press release are expressly qualified by such cautionary statements, risks, and uncertainties, and by reference to the underlying assumptions.
SOURCE Sloud, Inc.
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