El Maniel International Inc Gears Up to Mobilize Alluvial Gold Mining Operations in West Africa
Rolls out mining program under wholly owned subsidiary EMLL Mining Limited
New York – December 28, 2010-El Maniel International Inc (OTC: EML) announced today that the Company has incorporated a 100% owned local subsidiary in Ghana, West Africa to consolidate all its alluvial gold mining activities in Ghana. “The primary objective of this exercise is to facilitate commencement and mobilization activities of the Plot C - 25 acres alluvial mining known as the Kumasko Project” according to El Maniel’s CEO, Jamie Khoo “EMLL Mining Limited is a company incorporated in Accra, the capital of Ghana with operations driven by skilled and experienced team in alluvial gold mining with successful project management track records"
"El Maniel is also in the advanced stages of discussion with leading financial institutions in Africa such as UniBank (Ghana) Limited to secure funding and trade facilities of US$2 million through EMLL Mining Limited in the form of letter of credit and export credit facilities.” states Jamie Khoo “At this point in time, we are examining a number of very interesting offers before proceeding with a short-list of potential funding and trade financing options.”
UniBank (Ghana) Limited was incorporated in December 1997 and this Ghanaian wholly owned financial institution was established to provide a broad range of banking services with a niche focus in the Small and Medium Enterprise (SME) industries. The objective of the bank is to see the growth of small and medium sized enterprises into giants that can propel the country’s economy to great heights.
”Earthwork and site preparations for Kumasko Project is the first step in a program of work that has commenced and will last through to January 2011 resulting in the provision of basic infrastructure at the 25 acres alluvial gold mining site situated next to the scenic Ofin river in Bosomase - Upper Denkyira District of the Central Region of Ghana for immediate mobilization and gold production” commented Jamie Khoo “We are quite optimistic in yielding stockpiles of alluvial gold ore from the Kumasko Project site at a recovery rate of at least 2.0 g/t” added Jamie Khoo.
El Maniel is currently focused on prospecting, developing and expanding the economic potential of world class mining claims located in Ghana, West Africa and the company is committed to shareholder's value creation by ensuring constant development of current and new resources. For further information and updates on El Maniel, stay tuned to www.elmanielinc.com
"SAFE HARBOR " STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995: The statements contained in this release which are not historical facts are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by forward-looking statements. These risks and uncertainties include the Company's entry into new commercial businesses, the risk of obtaining financing, recruiting and retaining qualified personnel, and other risks described in the Company's Securities and Exchange Commission filings. The forward-looking statements in this press release speak only as of the date hereof, and the Company disclaims any obligation to provide updates, revisions or amendments to any forward-looking statement to reflect changes in the Company's expectations or future events.
CONTACT: El Maniel International Inc
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