Sloud, Inc. subsidiary, LionSoar Minerals Preparing for Launch of Mining Operations in Sierra Leone
SAN DIEGO, Aug. 6, 2012 /PRNewswire/ -- Sloud, Inc., (Pink Sheets: SLOU) announced today that the company's subsidiary, LionSoar Minerals is planning to commence mining operations in approximately 90 days on their Sandia Diamond project located in the Kono region of Sierra Leone. The company is currently purchasing heavy machinery and sorting machines to excavate alluvial diamonds. The Sandia Project is a 10 acre mining site with proven reserves of gem quality and industrial grade diamonds as well as other precious metals. Some of the largest diamonds ever mined in Africa have come from the Kono region, including one that weighed 1440 carats and sold for $75 Million.
Tony Khodadad, CEO of Sloud & LionSoar Minerals, states, "We are thrilled to have been able to acquire mining concessions in such a diamond rich area of Sierra Leone. We have ordered equipment that will allow us to move a significant amount of material with efficiency and speed. We anticipate that it will take approximately 90 days to take possession of the machinery and set up the necessary processing centers to extract the diamonds and precious metals. It is our goal to effectively and carefully mine this area over the next several years while at the same time gaining additional mining concessions and commencing multiple site operations throughout Sierra Leone."
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.