PAHANG, Malaysia, June 24, 2014 (GLOBE NEWSWIRE) -- via PRWEB - Verde Resources, Inc. (OTCQB:VRDR) expects production to hit 300 gold ounces monthly for the second half of 2014. The projection follows current installation and modification works on three additional production plants which are proceeding on time. With three additional production plants in operation, the alluvial production facility will have a total 1,500 tons per day of ore processing capacity. This would be about twice the current average rate of ores processed for the five-month period between January and May of 2014, thereby providing opportunity for the Company to meet its annual production target for 2014.
As the Company acquires more experience in the operation at Site IV-1 of the Merapoh Gold Mine, the technical team at Verde Resources is in the process of identifying cheaper and viable methods of recovery. Verde Resources has also worked together with external consultants to optimize the existing operation and design modification to the production lines. Mr. Wu Ming Ding, President of Verde Resources said, "The Company is making every effort to increase production, improve economies of scale and reduce unit operating costs. While we are focused on continuing production growth at Site IV-1 of the Merapoh Mine, the Company is concurrently exploring opportunities for regional expansion."
Mr. Wu concluded, "As we progress through 2014, we are well positioned to execute our expansion plan which includes further exploration of the mine site for prospects of lode gold. The Company is confident that Merapoh Mine will be an incredible investment in unlocking shareholder value which is expected to continue to compound over each of the coming years."
About Verde Resources, Inc.
Verde Resources, Inc. is an exploration stage mining company focused on global mining acquisition and development opportunities. Through its subsidiary, Verde owns a majority interest in Champmark Sdn Bhd, a mining contractor of the mining lease for Site IV-1 at the Merapoh Gold Mine in Pahang, Malaysia, which has four tons of alluvial gold resources and potential 30 tons of lode gold. Verde is also exploring for potential rare earth elements deposits in various parts of the world.
Website: http://www.verderesources.us
For more information, please contact Michael Liang: 852-21521223 .
Safe Harbor Statement
This release includes forward-looking statements, which are based on certain assumptions and reflects management's current expectations. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Some of these factors include: general global economic conditions; general industry and market conditions, sector changes and growth rates; uncertainty as to whether our strategies and business plans will yield the expected benefits; increasing competition; availability and cost of capital; the ability to identify and develop and achieve commercial success; the level of expenditures necessary to maintain and improve the quality of services; changes in the economy; changes in laws and regulations, including codes and standards, intellectual property rights, and tax matters; or other matters not anticipated; our ability to secure and maintain strategic relationships and distribution agreements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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Verde Resources, Inc. Michael Liang +1 4079217032
