MAXAM - Acquired 100% of the assets of Pembina Limitada S.A. Pembina Limitada is a Nicaraguan based company, registered under Nicaraguan laws and well established and respected by the Nicaraguan community of Central America.
Pembina Limitada S.A. has access to several gold concessions (3) gold concessions with permits to explore and export. One site was established in 1992 and at that time regarded as the largest concession in the country. The concession has substantially been reduced due to extensive exploration and focusing on the richest portions of the land. Currently the company holds the options to explore and exploit a total of 145,000 hectares with proven reserves of 80,000 Troy Ounces, and more than two (2) million probable Troy Ounces. These areas are located in the Pacific area of Nicaragua.
Currently the technologies in these regions are primitive at best. Our goal through the creation of our milling operation will provide greater income in the regions so that the people of the country can live above the poverty level . Currently the average monthly income is $150. We intend to develop and help provide affordable housing in support of these peoples where they will then have the basic necessities of life.
The ultimate goal is to develop the capacity of the plant to process 1,500 metric tons of ore per day. At 4 grams per ton = 6,000 grams per day. (31.1 grams per ounce) = 192 ounces per day or $340,800.00.