Gold Bar Development & Consulting Ltd.
Gold Bar Development & Consulting Ltd.: Shareholder Update
DGAP-News: Gold Bar Development & Consulting Ltd. / Key word(s): Miscellaneous 09.12.2014 / 08:00 --------------------------------------------------------------------- Gold Bar Development & Consulting Ltd. Announces Shareholder Update Hamilton, Bermuda - 9 December 2014 - Gold Bar Development & Consulting Ltd. (the "Company", "Gold Bar"; BSX Ticker: GOLD.BH, Frankfurt Ticker: B7GN) announces its progress in 2014 as well as its plans for 2015. As a result of a delay in receiving financing, Gold Bar was unable to purchase new equipment and hire more workers in 2014. Additionally, at the end of the first quarter of 2014, amidst increasing repairs & maintenance costs on its existing equipment, the Company decided to temporarily suspend its mining operations. The initial plan was to resume operations within two months, however further delays in financing extended that time to seven months. The Company resumed its mining operations in November. Bryan Bardes, CFO stated: "It has been another challenging year for us, however we are very optimistic about the future. We remain focused on long-term success and building a company that will ultimately generate consistent returns for its shareholders. This year we made significant progress building our team and setting up a new corporate structure in Guyana which will serve as the foundation for years to come." In 2014, Gold Bar formed three new corporations in Guyana to house its local operations in the country, and has identified key personnel who will be managing the operations of each corporation. Gold Bar plans on hiring workers and purchasing equipment for its second mining crew in Q1 of 2015 upon receiving financing, and additional workers and equipment for its third and fourth mining crews in Q2 2015. The Company's goal for 2015 is to achieve a consistent monthly production of 400 ounces of gold. Achieving this goal will position Gold Bar to become self-sufficient and not need to rely on outside financing to continually expand its alluvial mining operations. It would also allow the Company to further streamline operations, reduce production costs, and begin exploration & drilling work on its recently acquired Kamarang Project so that the Company can get a NI 43-101 and determine the feasibility of an open pit mine on the 11,000+ acre property. About Gold Bar Development & Consulting Ltd.: Gold Bar Development & Consulting Ltd. is a Bermuda based Gold Exploration & Consulting Company with significant holdings deep in the Gold Rich Jungles of Guyana, South America. Guyana has one of the largest mineral deposits in the world. The Company currently concentrates on surface mining of a layer of approximately one meter. In order to maximize revenues, the Company combines the team's experience with the latest technologies. The extracted gold is sold to the Guyana Gold Board. The Company plans to utilize a portion of its profits on exploration work to determine the presence of gold that is embedded in rocks below the surface. Gold Bar also offers consulting services to other mining companies that want to start business in Guyana or mining companies that want to expand their operations in Guyana. By supporting other mining companies financially and logistically, Gold Bar can enter into joint ventures and participate in revenues. The possibility to share resources enables Gold Bar to generate a short-term Return-of-Investment. Forward-Looking Information This news release contains "forward-looking information" which may include, but is not limited to, statements with respect to the estimation of mineral resources. Often, but not always, forward-looking statements can be identified by the use of words and phrases such as "plans," "expects," "is expected," "budget," "scheduled," "estimates," "forecasts," "intends," "anticipates," or "believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may," "could," "would," "might" or "will" be taken, occur or be achieved. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and are based on various assumptions. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, the receipt of applicable regulatory approvals, risks related to the debt facility proceeding, risks related to the final findings and assumptions set forth in the Technical Report, general business, economic, competitive, political and social uncertainties; the actual results of exploration activities; changes in project parameters as plans continue to be refined; accidents, labour disputes and other risks of the mining industry; political instability; delays in obtaining governmental approvals or financing or in the completion of development or construction activities, as well as those factors discussed in the section entitled "Risk Factors" in the Company's annual information form. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking statements contained herein are made as of the date of this news release and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results, except as may be required by applicable securities laws. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Company Contact: Gold Bar Development & Consulting Ltd. Saratu Phillips, CEO of Gold Bar Development & Consulting Ltd. Bryan Bardes, CFO of Gold Bar Development & Consulting Ltd. Telephone +1-855-419-4653 Address: Veritas Place 65 Court Street, Hamilton HM 12, Bermuda --------------------------------------------------------------------- 09.12.2014 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- 303571 09.12.2014
Aktuelle News
Aktuelle Berichte
Keine Berichte gefunden
Anstehende Events
Keine Events gefunden
Webcasts
Keine Webcasts gefunden