Is ZNEXT Mining Corporation (ZNXT:PK) the Future of the Philippines Mining Industry?
Despite its tiny geographical coverage, the Philippines is one of the most prospective regions in the world in terms of amount of precious resort deposits per geographical area. The Philippines ranks as one of the largest copper producers in Southeast Asia and among the top twenty gold producers in the world. Among the minerals produced are copper, gold, nickel, chromium, iron and manganese. It has been estimated that 90% of the country’s mineral resources are unsurveyed and undeveloped. According to various estimates, the Philippines hosts the world’s fifth-largest gold and copper reserves.
In 2009, the Philippine government hopes to attract at least U.S. $ 1 billion in investment. In 2008, total mining investment reached about US$ 63o million for the total country. Some of the world’s largest companies including Freeport McMoran and Anglo American are currently in the Philippines.
Founded in 2003, ZNEXT Mining Corp. Inc. (ZNEXT)is focused on the exploration of large and small gold projects. Principals of the Company have over 50 years of experience in mining and exploration throughout the world. The company’s mining operations could be broken into small scale mining operations and large scale operations.
The Company’s premier mine site is the XYZ Gold Project. The XYZ GOLD MINE SITE is a Pre-World War II Gold Mining Property with High Grade Gold Ores containing an average of approximately 90.37 grams per ton of gold and 533.6 grams per ton of silver. This Gold project can process an average of 15 grams of gold per ton of ores per day and can produce the equivalent of about 3,750 grams of Gold or 120.57 Troy Ounces of Gold per day from the mineralized ores with known and proven gold reserves.
The following is a breakdown of the small scale mining operations:
(A). Compostela Gold Project ~ about 3 hectares with production of about 1 kilogram of gold per month using manual tools. Estimated start of production - November 2009
(B). Bukidnon Gold Project ~ 197 hectares of known ancestral mining land. To do sampling, testing, assaying to determine exact gold and other minerals content and reserves, then followed by tunneling. Estimated start of production - November 2009;
(C). Gango Gold Rush Project – with 15 tunnels and to rehabilitate the first 3 mineralized gold rich tunnels. To install Copper Floatation Unit to the Gold Processing & Refining Plant. Estimated start of production - November 2009;
(D). Binasan Gold Project~ had known proven free placer gold reserves already harvested in 2006 and 2007; To Re-habilitate the access road due to typhoon damages & mudslides. Estimated start of production - November 2009;
ZNEXT has 100% interest in 12 mining claims in British Columbia. On the next post, we will give you some initial revenue projections.
Please see our upcoming revenue and production estimates from ZMEXT Mining
Notice:
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November 18th, 2009 at 10:12 am
A dividend was supposed to be paid in August. Nothing happened. A call to the telephone number listed in one of their press releases revealed that the delay was due to a delay in sucuring a new stock symbol. How long does it take to obtain a stock symbol? No press releases have been forthcoming explaining the delays, a silence that only serves to arouse suspicians.