SANTIAGO, Chile, March 11, 2013 /PRNewswire/ -- Swingplane Ventures, Inc. (OTCBB: SWVI) (the "Company" or "Swingplane") brings you a message from the Company's recently appointed President wishes to review the corporate opportunity relating to the Algarrobo mining project (the "Property") http://swingplaneventuresinc.com/projects/algarrobo-property-project, an Iron Oxide –Copper–Gold (IOCG) property located approximately 850 km north of Santiago, in the III Region, Province of Copiapo, Chile. The Property consists of 32 tenures, comprising a total of 6,161 ha (15,224 acres).
THE FACTS ABOUT COPPER.
The country of Chile is number one on the list of countries that produce Copper (Cu) in its ore state; its combined production accounts for about one third of the entire ore copper production worldwide.
Copper is one of the oldest metals known to civilization. Its uses and contributions continue to grow. There are over 400 copper alloys in use today. It has been and still is one of the most used metals around the world. Source: http://copperalliance.org/history-of-copper/#
Management considers this a ground level opportunity for the Company and its stockholders. The Company is in the exploration and development stage currently with the intent to amend the terms of its current option agreement whereby the Company can initially fund increased production by way of a $3M investment, with $2.5M being a capital equipment contribution with a view to an increase in current production being undertaken by the Optionor. The increase in production is projected to generate (on the basis of 3,000 tons per month of 9% copper shipped to Enami) gross monthly revenues of approximately $2,598,750 based on current copper prices from Enami, with estimated operating costs of $250,000 per month. From those revenues generated, the Company will retain 66 and 2/3% of the revenues with the Optionor receiving 33 and 1/3% until such time as he is paid a total of $5,000,000 at which time the Optionor reverts to a 25% interest. The Company is seeking equipment financing with a 10% interest rate over 24 months. Based on the projected monthly revenues above, the Company should have no problem servicing this loan and intends to use the profits generated after loan payments, Optionor payments and costs of production for exploration and ultimately to situate a mill on site for additional processing for recovery of additional metals prior to shipment.
Our Algarrobo property is in a prime area known for having a soil rich with High Grade Copper Mineralization among other minerals.
MINING HAS NEVER BEEN A SHORT TERM PROPOSITION.
There has been several preliminary reports done by the Optionor of the Property, Stomberger, our consulting geologist and our director, Johannes Lindorfer to estimate the potential of Algarrobo property and all of them are very promising and should not be taken lightly as they come from knowledgeable and experienced people who have based their reports on geological interpretation of the main and subsidiary veins on the Property. You can access these three reports at the following links:
As President of the Company my vision for Algarrobo, which I believe is currently an impressive property with a world-class potential, is to put the Property on the map among the leading copper mines. Our consulting geologist will be on the Property mid-week undertaking additional geological sampling, reviewing with onsite management, the mapping currently underway and preparing for the AMEC visit to the Property. In the big picture it has taken hundreds of thousands of years for these minerals to form and we believe they are lying there just waiting to be extracted. With careful analyzing of the mineralization that we have on this exceptional property, and the right team of experts using top of the line mining processes, Algarrobo can only become a prosperous business venture. Mining runs in my blood; my great grandfather and grandfather on my mother's side spent their entire lives working on mines; I want them to be proud of me wherever they are now. In my own personal opinion the savvy investor will hold on to the stock at least until the Company goes into production, whereas the investor with short-term mentality looking to make a fast buck will run off quickly without looking at the logic and most importantly the facts behind our project as mining has never been a short term proposition.
Carlos De la Torre
President and Director
For more information please visit our web site at:
Investor relations: 1-800-253-1692
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EXCEPT FOR THE HISTORICAL INFORMATION PRESENTED HEREIN, MATTERS DISCUSSED IN THIS NEWS RELEASE CONTAIN FORWARD-LOOKING STATEMENTS THAT ARE SUBJECT TO CERTAIN RISKS AND UNCERTAINTIES THAT COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM ANY FUTURE RESULTS, PERFORMANCE OR ACHIEVEMENTS EXPRESSED OR IMPLIED BY SUCH STATEMENTS. STATEMENTS THAT ARE NOT HISTORICAL FACTS, INCLUDING STATEMENTS THAT ARE PRECEDED BY, FOLLOWED BY, OR THAT INCLUDE SUCH WORDS AS "ESTIMATE"", """ANTICIPATE"", ""BELIEVE"", ""PLAN"" OR ""EXPECT"" OR SIMILAR STATEMENTS ARE FORWARD-LOOKING STATEMENTS. FORWARD-LOOKING STATEMENTS CONTAINED IN THIS NEWS RELEASE INCLUDE STATEMENTS RELATING TO THE COMPANY''S PLANS TO ENTER INTO A MINING OPTION AGREEMENT WITHIN THE NEXT FORTY-FIVE DAYS. RISKS AND UNCERTAINTIES FOR THE COMPANY INCLUDE, BUT ARE NOT LIMITED TO, THE RISKS ASSOCIATED WITH MINERAL EXPLORATION AND FUNDING AS WELL AS THE RISKS SHOWN IN THE COMPANY'S MOST RECENT ANNUAL AND QUARTERLY REPORTS ON FORM 10-K AND FORM 10-Q, RESPECTIVELY, AND FROM TIME-TO-TIME IN OTHER PUBLICLY AVAILABLE INFORMATION REGARDING THE COMPANY. OTHER RISKS INCLUDE RISKS ASSOCIATED WITH THE REGULATORY APPROVAL PROCESS, COMPETITIVE COMPANIES, FUTURE CAPITAL REQUIREMENTS AND THE COMPANY''S ABILITY AND LEVEL OF SUPPORT FOR ITS EXPLORATION AND DEVELOPMENT ACTIVITIES. THERE CAN BE NO ASSURANCE THAT THE COMPANY''S EXPLORATION EFFORTS WILL SUCCEED AND THE COMPANY WILL ULTIMATELY ACHIEVE COMMERCIAL SUCCESS. THESE FORWARD-LOOKING STATEMENTS ARE MADE AS OF THE DATE OF THIS NEWS RELEASE, AND THE COMPANY ASSUMES NO OBLIGATION TO UPDATE THE FORWARD-LOOKING STATEMENTS, OR TO UPDATE THE REASONS WHY ACTUAL RESULTS COULD DIFFER FROM THOSE PROJECTED IN THE FORWARD-LOOKING STATEMENTS. ALTHOUGH THE COMPANY BELIEVES THAT THE BELIEFS, PLANS, EXPECTATIONS AND INTENTIONS CONTAINED IN THIS NEWS RELEASE ARE REASONABLE, THERE CAN BE NO ASSURANCE THOSE BELIEFS, PLANS, EXPECTATIONS OR INTENTIONS WILL PROVE TO BE ACCURATE. INVESTORS SHOULD CONSIDER ALL OF THE INFORMATION SET FORTH HEREIN AND SHOULD ALSO REFER TO THE RISK FACTORS DISCLOSED IN THE COMPANY'S PERIODIC REPORTS FILED FROM TIME-TO-TIME WITH THE UNITED STATES SECURITIES AND EXCHANGE COMMISSION.
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SOURCE Swingplane Ventures, Inc.