El Maniel International Inc Received Overwhelming Enquiries for Supply of Gold; Enters into Forward Contract to Supply Gold
New York – March 22, 2011 - Further to our press release dated March 10, 2011, El Maniel International Inc (OTC:EMLL) announced today that the Company has received overwhelming enquiries to supply gold and had also entered into forward contract for delivery of the first shipment of 1000 Oz of gold in the form of dore bars by early April 2011 from Ghana, Western Africa via its Gold Trading Arm "We are thrilled by the interest and the demand for our supply of the physical product and this transaction far exceeds our initial expectations and remains as a significant milestone to the Company” according to Jamie Khoo, CEO of El Maniel International Inc “Immediate preparations which includes procurement for re-sale from small scale miners by utilizing the gold buyer’s license held under the gold trading arm are underway and this transaction which will deliver pilot revenues to El Maniel will also be supported by the ongoing alluvial gold production initiative under Plot C”.
"As global demand for gold continues to exponentially increase gold prices, El Maniel will benefit tremendously from this domain as we foresee a substantial volume increase in our subsequent shipments of the precious metal and at the same time, the appreciation in the value of our gold assets will create value for the Company in totality as well as significantly enhancing shareholders’ value” states Jamie Khoo “We are working aggressively to capitalize on the prevailing Golden Opportunities towards rapid growth and development of El Maniel”
El Maniel International Inc (OTC:EMLL) is a publicly traded company 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 in the region. For further information and updates on El Maniel, stay tuned to www.elmaniel.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
Investor Relations Contact:
212-726-2179
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