Hidalgo Mining International (HMIT) Addresses Production and Expansion Plansadmin
Hidalgo Mining International, an innovative mining company headquartered in Port Washington, N.Y., addresses production and status of expansion plans.
Mark Daniel Klok, President of HMIT, stated: “The Company anticipates production to start in January of this year and we look forward to generating a substantial amount of gold while operating the Fifa project. Regardless of unforeseen delays typical of any mining operation, we have never been more confident about the windfall of gold values that will be extracted from our property during 2009 season. We have increased our land holdings within the Fifa and Tinkisso projects in anticipation of commercializing these projects for long-term sustainability. The company has millions of dollars of production equipment on the ground at our primary mining location in Guinea, West Africa and is in the perfect position to produce millions of dollars of gold in both the short and long terms.” Management stated that while it believes that the company’s current price per share is undervalued, it attributes the recent increase in daily liquidity to confident investors seizing the opportunity to target the precious metals industry. “In economic uncertainty, investors time and time again turn to the precious metals industry as the price per share of many worthy companies, both small and large, and across the globe, depreciate,” said Hidalgo CEO Mark D. Klok referring to the increased average daily trading volume of HMIT. “Our shareholders seem to have become more proactive, and we believe a larger audience is now targeting the precious metals sector and is acknowledging that the current price per share does not accurately reflect the value of our company,” he concluded.
The company recently expanded its Fifa holdings in West Africa significantly and anticipates announcing several production updates as the new season’s operational status progresses. Management stated that as a result of its expansion it has received several offers from various companies seeking to participate in the enlarged Fifa project and that the company is actively engaged in exploring joint venture transactions. Mr. Klok noted, “I have had many private meetings with several other mining companies to plan out the potential of a consolidation play within the sector. We know that many junior mining companies do not necessarily have the potential or assets to achieve production alone, but nonetheless can provide invaluable services from a production or support standpoint, or as potential mergers and acquisitions targets. We therefore invite and will explore any such potential opportunities in our efforts to cost-effectively enhance production potential, our bottom line, and shareholder value.”
Hidalgo Mining International, an innovative mining company headquartered in Port Washington, N.Y., strives to increase shareholder value, while implementing aggressive plans to continue targeting near term mining production projects on a global scale. HMIT’s management, directors, and advisors hold an abundance of experience and knowledge to implement expansion in this rapidly growing industry.