The company confirms that its management is of the opinion that the dumps and tailings at its Oatman gold property have the potential to produce a gross profit in excess of $50m at current gold prices.
One of the potential acquisitions is a gold property which has dumps and tailings with a gross profit potential worth in excess of $40m.
The company plans to utilize the future cash flows from the extraction of its dumps and tailings which would fund the in-ground mining and production at its existing gold properties.
ASPA Gold would in all likelihood require limited funding to commence this extraction process given the close proximity of the Oatman property to an operational mill, should its owner be agreeable to process ore for the company.
