Morning Kgem, I have a sleeper to throw your way.
All Grade Mining Inc (OTCMKTS: HYII ) Expects Revenue From a Copper Project in Chile
Small cap All Grade Mining Inc is a development-stage company whose mission is to acquire mining concessions in all phases, all sizes and all minerals. The company is currently focused on the extraction of copper in South America, primarily in Chile and has established an experienced team of executives and mining professionals to lead its exploration and excavation efforts. On Friday, All Grade Mining Inc surged 50% to $0.0003 for a market cap of $2,320 plus HYII is down 99.5% over the past year and down 99.99% over the past five years according to Google Finance.
What’s the Catch With All Grade Mining Inc? According to various disclosures, transactions of $1.5k and $20k have or will occur to mention All Grade Mining Inc in various investment newsletters. However, there was no news from the All Grade Mining Inc last week with the most recent news being a filing a week ago noting that on January 14th, the company upwardly modified its authorized shares to 6,004,061,000 aggregate shares, broken out into 6,000,000,000 common voting shares, 200 Preferred Class A, 800 Preferred Class B, and 4,060,000 Preferred Class C. Back in December, All Grade Mining Inc announced that it will be contracting Ambiental Chile, SA, a firm that specializes in mine engineering, compliance and permitting, to devise and execute an extraction plan of copper sulfide on its Plateada Project in Chile. Ambiental Chile’s initial estimates have placed an initial target of 2,000 tons of copper sulfides to be extracted at Plateada for a production of 40 tons of high grade copper concentrate containing 42% – 45% copper, 800+ grams of silver and 9-12 grams of gold per ton. At today’s prices of between $4,400 and $5,000 per ton, All Grade Mining projects monthly revenues between $176,000 and $200,000 from the project with a gross profit margin of 45%. That would be helpful because a quick look at All Grade Mining Inc’s financials reveals no revenues; net income of $796k (most recent reported quarter) and net losses of $2,154k, $552k and $4,648k for the past four quarters; and $1k in cash to cover $1,996k in current liabilities and $511k in long term debt. So investors might want to wait and see if the Plateada Project lives up to expectations
