UC Hub Group Announces Agreement for Montana Gold and Royal American Sapphire Propertyadmin
UC Hub Group, Inc. announces the signing of a binding letter of intent agreement to mine the gold and sapphire mine near Helena, Montana in exchange for shared revenue. Formal contracts are being prepared this week by counsel for execution. The Montana mine will produce revenue from gold and sapphires and will allow UC HUB to place the UC HUB Gold Wash Plant on the private property to begin mining known reserves with past gold production history. The past production of gold and or analysis represents about .10 oz per ton to .010 oz per ton. UC HUB anticipates a production of up to 100 tons per hour at this mine. In addition to the gold wash plant, there is an existing Sapphire Wash Plant in place on the 100 acre plus private property mining site in the famous mining area of the El Dorado Bar. In the meantime, UC HUB has graded the gold wash plant site and will begin placing its newly acquired wash plant and related equipment in this area for actual gold production. Some of the equipment arrived today at the site in Montana. In the 1990s the historic and famous geologist Rafal Swiecki made some very remarkable claims about the carats per acre of sapphires in this El Dorado Bar area.
The Gold for this area has historic production reports provided to the U.S. Government. When you combine gold and sapphires from 100 plus acres of land the economics imply a greater level of “optimism” than experienced heretofore. This property is a new and independent deal and a sole result of UC HUB’S aggressive strategy supporting efficiency models with a focus on timely and valuable revenue streams. This property has moved to the front of the line with respect to our mining efforts.
This is exactly the kind of strategy management referred to in the past shareholder updates. The company will have the opportunity to have one parcel of private land, two mining plants, and the potential of multiple shared revenue streams from gold, precious and the very rare sapphires that are not heat treated from this special Lewis and Clark County in Montana. This newly negotiated deal, by UC HUB, will now become the priority of the Company. Management believes it was important to find strategic partners who are ready to begin mining, who have expertise in sapphires and gold, and who have completed due diligence previously. Establishing UC Hub Group with its own mines complemented by dual revenue centers is key to the Company’s objective to produce timely revenue. Management is in discussions and has its representative on site today working on the grading and preparation of the site. The Company is working closely with the owner on this Joint Venture this week, while counsel is finalizing the formal contract. The Company believes that potential production could begin as soon as late June, or early July 2009.
Once again, management would like to thank the time honored shareholders for their patience and trust. The Company now believes that it has an excellent gold and sapphire revenue potential that provides a map for the company’s future.