|By PR Newswire||
|February 26, 2014 06:01 AM EST||
LAS VEGAS, February 26, 2014 /PRNewswire/ --
Amarium Technologies Inc. (OTC: AMMG), through its wholly owned subsidiary Amarium Minerals Inc., reports that it has now completed upgrades to its site along with additions to the excavating, crushing and milling equipment at the Jovita Mine that have allowed daily production to increase by 300%. The existing daily throughput of 40 tons per day will now be operated at a capacity of 120 tons per day. The Jovita mine will test operate at 120 tons per day for the next 45 days, while production variances will be measured to ensure that consistent processing and a minimum grade of 3% for recoverable copper ore are maintained.
Adam Carter, the President & CEO of Amarium, said " the current expansion at the Jovita Mine gives certainty to operating at 200 tons per day by the midpoint of 2014 and further increasing to optimal recovery of our copper resource to 500 tons per day by early 2015."
Amarium projects that the Jovita Mine running at 200 tons per day, with copper maintaining its current price of $3.23 US per pound, will provide net production revenue of $558,000 per month or in excess of $6.6 million US over a 12 month period. These achievable revenue projections do not include the contribution to earnings from the San Pedro Floatation Mill that is presently expanding from production of 20 tons per day.
Amarium is focused on the acquisition and development of base metals projects in Mexico that are currently in or near production and advanced exploration properties that will add substantially to the Company's asset foundation. Management is continuing to actively pursue mineral interests that represent significant growth, value and cash flow opportunities
For additional information, please visit: http://www.amariumminerals.com
This press release contains statements that are forward-looking and which involve a number of risks and uncertainties. Such forward-looking statements are within the meaning of that term in Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. The forward-looking statements in question are based on Amarium Technologies, Inc.'s current expectations and projections about future events, based on information currently available. The forward-looking statements found in this press release may also include statements relating to Amarium Technologies, Inc.'s anticipated financial performance, business prospects, new developments, strategies, and similar matters. Amarium Technologies, Inc. provides no assurance regarding the actual outcome of the events contemplated by any forward-looking statements included in this release. Amarium Technologies, Inc. disclaims any obligation to update any of its forward-looking statements, except as may be required by law.
Amarium Technologies Inc.
Investor Relations, +1-800-983-0814
SOURCE Amarium Technologies Inc.