ABOT News .0013
ABOT Mining Announces Binding Silver Tailings Purchase & Processing Agreement with its Mexican Operating/JV Partner
2012-11-14 08:30 ET - News Release
WOODLAND HILLS, Calif. , Nov. 14, 2012 /PRNewswire/ -- ABOT Mining (Pink Sheets: ABOT.pk) is pleased to announce that it has entered into a legally binding Silver Tailings Purchase & Processing Agreement (the "Agreement") with Rising Star Mining ("Operating/JV Partner") that sets forth terms and conditions for purchase and production of silver tailings ("Tailings") known as the Pueblo Project in Sinaloa, Mexico . The Company has paid advance monies and has scheduled payments to commence mobilization works for road repair and equipment maintenance. The Company expects to do the trial run of 150 tons of Tailings and subsequently increase throughput to up to 600 tons of Tailings per month. As reported earlier, in addition to Pueblo Project, the Company also intends to purchase and process gold ore stockpile, which is located within 5 miles radius of its Aztlan 8B Project . The term of the Agreement is for one year commencing from the date of Agreement with possibilities of rollovers and extensions. The size of each lot of Tailings has been agreed to be a minimum of one hundred and fifty (150) tons per production run.
