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AUSTIN, Texas--Spectrum Acquisition Holdings, Inc. (SPAH), specializing in mining and mining equipment operations, announces two targeted Peruvian Gold Production Mining acquisitions. Spectrum is negotiating to acquire a 50% interest in both the Peruvian Gold Production Mining Acquisitions located in the World Renowned Pataz “Gold” Region.
SPAH, through its principal operator Western American Mining Corp. of Austin, Texas, has entered into a partnership agreement with MundiRoyal SAC of Lima Peru. In addition to administering the expatriation of revenue from the Pataz region in La Libradad, Peru MundiRoyal will manage the mining contracts with the concession holders on two separate projects with similar terms of 50% of the production going to SPAH.
One concession is a production restart and the second is a low risk exploration project with exposed high grade veins on the surface. The existing mine had produced thousands and thousands 80% fine gold ounces from veins averaging one meter wide with grade between 5 and 8 grams per ton. Production ended in the 1980s being that it was not as profitable in a $300 gold market as mining cost rose above $200 an ounce. With Gold well above $1,110 per ounce it makes this a potential lucrative acquisition. Peru still has near the lowest mining costs in the world and is expected to restart having production costs around $300 per ounce. Spectrum feels this is a lucrative acquisition and opportunity for the company with slight risk because this is a producing mine (not a development mine) so there is low development risk. Being a restart and producing mine there should be production and revenues flow soon after the closing of the acquisition.
Both projects have processing costs contracted at a flat rate of $250 per ton Mineralization is typical of the Pataz Batholith with the gold associated with sulfides in quartz at the present penetration of just over 1km. Infrastructure includes level tunneling on multiple levels with ore shoots, a railway present and industrial power on site with maintained roads.
The mines are located in the province of Pataz which is one of the richest gold fields in Peru; indeed, it may almost be said that the towns of Pataz are built upon gold beds, for in the gutters in the streets of this town, after heavy rains particles of gold are met with the mud deposit, which the inhabitants call “astillas,” the grains often weighing as much as a gram (View).
Pataz is also the home of the biggest gold mine in the world at Cajamarca and has the history of being the location where the Conquistadors were led to from the first encounter with the first Inca Indian in Peru on the nearby coast. In 1532 this led to the first Spanish mission taking over the Inca Empire collecting a treasure in gold and silver. This location is nearby the mine SPAH is targeting.
About Spectrum: Spectrum Acquisition Holdings, Inc. is a growing holding company with interests in established drilling and mining equipment manufacturing through its wholly owned subsidiary, Western American Mining Corporation. Spectrum has recently ventured into the market of "green technologies" that will provide "small footprint" drilling technologies, bio-mining, remote controlled exploration modules, GPS positioning of drilling, micro drilling, composite drilling components and other technologies that will minimize the traditionally poisonous and toxic environmental threats posed by the mining industry.
SPAH’s subsidiary, Western American Mining Company, contains four patent-pending invention applications. Western American Mining Patents:
1. Intrinsically Safe System for Mineshaft Illumination – AN/20090284983
2. Laser Guidance System for Diamond Wire Cutting Apparatus - AN/12122427
3. Continuous Refractory Ore Bioprocessing Apparatus - AN/12101968
4. Mixing, Milling and Aeration Apparatus for Digesting Metal Ore with Bacteria - AN/121030053
Spectrum is aggressively positioning itself to be a model for Green mining equipment. The Company is currently researching the technique of bioleaching process technology by creating continuous processing equipment useful for isolating gold ore. This technology will increase the yield of high-grade ore by using eco-friendly microbes, as compared to traditional high energy requirements of roasting and autoclaving or deadly use of toxic chemicals.
Market Makers are Trying to Hold Back your BUYS so they can Buy this one up themselves!
Call in your Trades to Get in Early!
NEWS OUT for SPAH!
RECAP or Progress on SPAH-
Also.. We heard from another large Research Firm that SPAH will get additional Coverage from an American Equities Research Firm!
The Volume to say the very least is impressive... With the Acquisition on the table for not one, but TWO of the most well known Gold Resevres in the World..
This tiny little company could grow to massive proportions overnight and could possibly take their shareholders on the ride of their lives.
With the holidays approaching we hope that no one of our members are making the mistakes of not holding some of their investments of all kinds as January has proven time after time to be a monster month for small caps and microcap stocks! *Source: Goldman Email
