Log in
Log in
Or log in with
GoogleGoogle
Twitter Twitter
Facebook Facebook
Apple Apple     
Sign up
Or log in with
GoogleGoogle
Twitter Twitter
Facebook Facebook
Apple Apple     
News
All NewsCompaniesIndexesCurrency / ForexCommoditiesCryptocurrenciesETFInterest RatesEconomyThemesSectors

Gold Horizons Mining Processing Facility Establishes Electrical Corridor

05/16/2013 | 01:10pm EST

Gold Horizons Mining (G.H.M, ticker symbol on GXG Markets: GHMG) is pleased to announce through negotiations with the property adjacent to its processing plant permission has been granted permission to connect to the electrical grid establishing a corridor on their property. The significance here is that it minimizes the distance between the processing plant and the needed distance to connect to the electrical grid.

There were many options available to connect the grid but none more strategic or economical. The most obvious advantage is the electrical infrastructure on the property already in place. This allows GHM to piggyback on the already existing grid simplifying the installation. Secondly the distance between the plant and the grid is most direct line further reducing installation cost. Thirdly and most important is the relationship between GHM and its neighbor being cultivated. This neighbor has deep roots in the community and is held in high esteem by the local community. His voice and opinion carries weight and influence in local politics. Being a good neighbor and having the support of the community on a grassroots level is key to being accepted and ultimately successful.

Energy is one of the largest costs confronting the mining industry. The cost of producing one ounce of gold is greatly affected by the cost of energy. Processing plants are energy intensive and are operated non-stop twenty-four hours a day. Many of the processing plants that we will be competing with, operate in areas where there is no electrical grid available. There only option is to run diesel generators to produce their electricity. This gives GHM a distinctive competive advantage; our overhead is a fraction of the cost because the plant will be connected to 3-phase 380 volts industrial electricity. Furthermore many of the surrounding mines have to ship their mineral hundreds of kilometers to these processing plants. Our goal is to produce an ounce of gold below $600. The combination of our processing plant being within 20 kilometers of the mine, within 5 kilometers of the Pan American Highway and connected to the electrical grid will support us in meeting this $600 cost benchmark.

Contact:
www.goldhorizonsminig.com
scott@goldhorizonminig.com
Peru operations- +51 988 988 003

Forward Looking Statements
This press release contains "forward-looking information. Except for statements of historical fact, certain information contained herein constitutes forward-looking statements, which include statements regarding production estimates and targeted production for 2012. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plan", "expect", "anticipating" and "goal". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information.

Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.


ę Accesswire 2013
Latest news "Companies"
12/09U.S. bid for battery metals has Africa blind spot
RE
12/08Japan's Q4 tankan factory mood set to weaken on inflation, global slowdown: Reuters Poll
RE
12/08Exclusive-India's Snapdeal to shelve $152 million IPO amid tech stocks rout
RE
12/08Altra Industrial Motion : Power Review Q4 2022 Just Released
PU
12/08Insurance Australia : claims tipped to soar over festive period, AMI says
PU
12/08Tvs Motor : General updates
PU
12/08INDIA BONDS-Benchmark bond yield above 7.30% ahead of debt auction
RE
12/08Hua Nan Financial : Announcement of HNFHC and major subsidiaries' unaudited consolidated income in November 2022
PU
12/08Capital A to launch AirAsia Cambodia as it resumes growth
RE
12/08Queensland fines Star Entertainment $67.9 million, casino licence under lens
RE
Latest news "Companies"