King Resources, Inc. (KING) Graphite Merger Expenditure Indicates Up to $150 Million Worth of Assets
(firmenpresse) - HENDERSON, NEVADA -- (Marketwire) -- 04/23/12 -- King Resources, Inc. (PINKSHEETS: KING) () Further to the company announcements of earlier dates where amongst other things KING management disclosed two separate targeted merger candidates, namely the N American Graphite company and the S American (Argentina) lithium mining company the company is providing this update to its followers regarding the possible cost exposures KING may incur.
Graphite has proven resources, and metallurgy done on the ore. The company estimates the average percentage and a conservative "rough estimate" to me a minimum of $150,000,000.00 worth of graphite. Property is on a "walking" distance from a major city having all infrastructures in place.
Exposure to KING is approximately $1,5 Million Dollars over 3 years.
KING is currently exploring the possibility of acquiring a 50% interest as well. Hence lowering its exposure to about $750,000 from 1,5 Million as well. KING management is of the opinion that should it proceed to do required work and sell property, (once well explored) it would be very possible to liquidate for approximately $10.0 million. This opinion is based on its mining expert's advice (sic) "as that is usual price after that much exploration".
The company asks its followers to review the Argentina mining filings posted on OTC Markets website. That report is self explanatory. Exposure to KING is approximately $1,3 Million Dollars over 2 years.
KING has available means and or access to funds to complete one or both of these transactions. KING is providing this update to its shareholders and followers as part of its full transparency aspirations to its shareholder base ahead of any final merger execution.
More details will follow on a timely basis.
Safe Harbor Statement
Information in this news release may contain statements about future expectations, plans, prospects or performance of King Resources, Inc., that constitutes forward-looking statements for purposes of the Safe Harbor Provisions under the Private Securities Litigation Reform Act of 1995. The words or phrases "can be," "expects," "may affect," "believed," "estimate," "project" and similar words and phrases are intended to identify such forward-looking statements. King Resources, Inc. cautions you that any forward-looking information provided by or on behalf of King Resources, Inc. is not a guarantee of future performance. None of the information in this press release constitutes or is intended as an offer to sell securities or investment advice of any kind. King Resources, Inc.'s actual results may differ materially from those anticipated in such forward-looking statements as a result of various important factors, some of which are beyond King Resources, Inc.'s control. In addition to those discussed in King Resources, Inc.'s press releases, public filings, and statements by King Resources, Inc.'s management, including, but not limited to, King Resources, Inc.'s estimate of the sufficiency of its existing capital resources, King Resources, Inc.'s ability to raise additional capital to fund future operations, King Resources, Inc.'s ability to repay its existing indebtedness, the uncertainties involved in estimating market opportunities, and in identifying contracts which match King Resources, Inc.'s capability to be awarded contracts. All such forward-looking statements are current only as of the date on which such statements were made. King Resources, Inc. does not undertake any obligation to publicly update any forward-looking statement.
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Datum: 23.04.2012 - 09:30 Uhr
Sprache: Deutsch
News-ID 1105986
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