Southridge Announces Major Multi-Million Dollar Expansion of Cinco Minas Mill to 500 Ton per Day (tpd)
Marketwire "Press Releases"
The expanded CMM design and layout is complete and foundations are now under construction. All the major system components have been requisitioned and are confirmed for transfer and delivery to the Cinco Minas property. The required secondary facilities including buildings, electrical power, water and road access, are also nearing completion. Additionally, the CMM environmental permitting processes are moving forward rapidly and the Mexican Governmental Agencies have commented that they are satisfied with the progress and the diligent care demonstrated in the Company's environmental protocols and safety programs. The Company has taken a critical success factor approach in the planning of this major expansion of the
The CMM expansion is being led by Southridge's Engineering professionals and the Mill Assessment Committee (MAC). With Phase I already well underway, the project team has been carefully ensuring that quality, technology, safety and proficiency are incorporated into every aspect of the expansion. Southridge has already begun the hiring process to fulfill the construction manpower required with 18 new employees now in place. The Company expects to add another 35 employees, with a variety of skills and experience, to complete the construction workforce over the next year of the CMM expansion.
"We believe the factors driving long-term growth in Gold & Silver demand are unlikely to reverse," said Company President and CEO,
In conjunction with the mill expansion project, the Company hosted a several day visit of two research and mining analysts at the Cinco Minas -- Gran Cabreara Gold and Silver Mines. At Cinco Minas, the analysts attended the ground-breaking ceremony that officially launched the commencement of the 500 tpd mill expansion construction.
Southridge recently announced that the 2012 4th Quarter Earnings and Production values at Cinco Minas. In fiscal 2012, the Company processed over 9,000 tons of ore and recorded revenues of
In other recent Company developments, the anticipated and long-awaited public update at the Mexican Mining Registry of the Cinco Minas mineral concession ownership being duly reflected in Southridge's name is now complete. Also, the Company had now engaged the necessary professional services to migrate and up-list the Company's reporting status back to the Over-The-Counter Bulletin Board. It is anticipated that this process will be complete before the end of 2012.
For further information on the Company's Gold and Silver projects, visit our website: http://www.southridgeminerals.com.
What sets Southridge apart is its vast experience in
Although the Company believes that the forward-looking statement of beliefs, plans, expectations, and intentions contained in this press 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 published current and periodic reports.
Southridge Enterprises Inc.Investor Relations Tel. (214) 699-6255 Email: firstname.lastname@example.org http://www.southridgeminerals.com