QualityStocks would like to highlight
Star Mountain Resources, Inc. (
SMRS), a minerals exploration company focused on acquiring and consolidating mining claims, mineral leases, producing mines, and historic mines with production and future growth potential identified through exploration efforts. The company's operations are currently centered on the initiation, production and expansion of acquired mineral resources in the Star Mountain Mining District, Beaver County, Utah and turning them into producing assets.
In the company’s news,
Star Mountain Resources announced it is continually pursuing merger and acquisition opportunities for mines, advanced projects, and immature projects that are available at opportunistic costs as a result of the current mining cycle downturn.
“As part of our strategy to strategically position ourselves for the inevitable upturn in the commodity markets, we are presently pursuing the previously announced acquisition of an underground base metal mine located in North America subject to completion of financing,” stated Joseph Marchal, CEO of Star Mountain Resources. “The mine is permitted and in compliance with current Federal and State mining regulations and is on care and maintenance status. We intend to upgrade and modernize certain infrastructure systems, develop additional access to existing mining areas and restart production at this mine within 6 to 9 months.”
Marchal continued, “Based on data provided to us during our due diligence on this proposed acquisition, we believe that the base metal mine opportunity presents to us the possibility of outstanding cash flows in the near term, showing a viable net present value and an attractive internal rate of return. By completing this acquisition and raising the capital needed to complete it, we expect to meet the listing requirements for a national stock exchange. We believe that an up-listing to a national stock exchange will further enhance our efforts to raise additional capital needed to identify and complete the acquisition of other quality properties and projects.”
A significant decline in commodity prices has created an environment for opportunistic quality projects at competitive prices. The management team at Star Mountain Resources is fully committed to accessing the capital markets and seek up-listing to a national securities exchange. Coupled with the mining experience of its leadership team, the company is well positioned to recognize quality acquisition opportunities and to operate those acquisitions profitably.
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Forward-Looking Statement:
This release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. Risks and uncertainties applicable to the company and its business could cause the company's actual results to differ materially from those indicated in any forward-looking statements.
