Maxam Gold Corporation announces acquisition of Pembina Limitada, S.A.
Thursday, Jan 24, 2013
LAS VEGAS, Jan. 23, 2013 /PRNewswire/ -- Maxam Gold Corporation (MXAM.PK) http://www.max-amgold.com, a leading gold mining and development company, announced today that it has acquired Pembina Limitada, S.A. a Nicaraguan Gold Mining Corporation.
Charles Langrill, President and CEO of Maxam Gold Corporation, stated: "The acquisition of Pembina Limitada, S.A. will be a great addition to the Maxam Gold Corporation. Pembina Limitada owns two gold concessions with permits to explore and exploit these concessions. The preliminary study prepared by Dr. William Matinez, "Concession Santa Rio Coco," shows enormous gold reserves in these concessions. These newly acquired permits allow Pembina to process 150 metric tons per day as they gear up the exploration and production. The company will be processing 120 metric tons of tailings per day, averaging 4 grams of gold per ton. This equals 480 grams or 15.43 ounces per day generating revenue of $777,942 per month. These numbers represent revenues prior to the installation of a major mill upgrade.
For centuries, buying gold has been recognized as one of the best methods to preserve one's wealth. Gold is in greater demand today then at any time in the history. Gold prices have skyrocketed over the past few years with no end in sight. Plus, with the US experiencing trillion dollar deficits and the dollar losing confidence of investors around the world, the price of gold is expected to continually rise. Today's price is $1,622 up from $700 in January 2008.
About Maxam Gold Corporation.
Based in Nevada, Maxam Gold Corporation is a leading gold mining and development company with claims in the western United States and Nicaragua. Maxam Gold Corporation was formed in 1975 and has been involved in the mining and exploration of gold since 1985. Gold demand, along with gold prices, has revitalized the company. Its policy of acquiring gold production, through acquisition of gold production companies, will allow the company to expand the production and profitability of its current operations.
SOURCE Maxam Gold Corporation