Blackstone Resources AG to start Peruvian gold mill


March 20, 2018

Ladies and Gentlemen

We own a 20 percent stake in a milling plant in Peru through a company called Multi Minerals. The mill is one of our most important assets and it is due to come into operation shorty. Once fully operational, it will provide a strong and reliable source of revenue of US$5 million dollars a month for years to come.

I’m pleased to announce that the construction phase is now complete. Furthermore, all the inventory and machinery has been ordered and will be erected by June the latest. This was made possible by a loan structure provided by Blackstone Resources to Multi Minerals, which saw US$1.5 million invested into the milling plant to bring it into operation.

The mill is located in the picturesque coastal town of Huarmey, which lies 230 kilometres north of Peru’s capital city Lima. The ore will be purchased from 400 licensed miners that are all located within 100 kilometres of the facility.

Initially, we will start with a pilot plant, run using a smaller mill. This is a crucial period, where we will test the equipment and refine our processes before bringing the larger main mill into operation. The pilot plant will process 50 tonnes of ore a day, with approximately 10 grams of gold per tonne, for a period of two months. We estimate that it will breakeven.

Once the main mill is brought into operation, we plan to ramp up production to 350 tonnes a day. This will deliver an average grade of approximately 23 grams of gold and 75 grams of silver per tonne, respectively.

Once fully operational, Blackstone Resources plans to install a second plant adjacent to the current milling facility within one year. This facility should increase production by an additional 350 tonnes a day, which will lead to a further increase in revenue.

 We look forward to reporting our progress in the near future.

The Board of Directors 

Gez. Der Verwaltungsrat

 

Die Blackstone Resources AG, Baar, ist eine schweizerischen Holdinggesellschaft in Baar, welche eigene Lizenzen im Rohstoff / Bergbaubereich erwirbt und entwickelt.  Daneben werden Rohstoff Raffinerien für die Gold- / Silberverarbeitung aufgebaut, entwickelt und betreiben.  Im Weiteren können weitere Beteiligungen an Bergbauunternehmen erworben werden. Die Blackstone konzentriert sich auf Cobalt, Mangan, Gold und Molybdän als primäre Rohstoffe.

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