Shalateen's Website Finally Launches21 Dec 2022 20:22
They've been working on it for over a year.
Some excerpts from their 'Mission Statement' Page:
- Providing investment opportunities for local companies and small investors in the field of gold exploration as well as other ores.
- Taking care to increase the company's capital, as well as the available areas under its umbrella.
- Increasing the state's gold reserves.
- Maintain complete transparency.
- Exploration and exploitation of mineral ores in the Arab Republic of Egypt, except for the Sinai Peninsula, while preserving the company's rights to search and exploit mineral ores in the area between latitudes 22° and 24° north in the south of the Eastern Desert.
- Legalization of the indiscriminate exploitation of gold.
- Re-exploitation of old gold mines.
- Adding value to mining ores.
- Establishing a factory or factories to produce gold, either by itself or jointly with others.
- Investing in the field of mineral wealth, whether by itself or jointly with others.
From Chairman's Message Page:
In the beginning, the company had only one agreement supported by law. Today the company has seven new agreements with seven laws in different areas, where the infrastructure of roads and networks is available in near coastal cities and villages.
We aim to increase the reserves of gold and associated minerals by re-evaluating and exploiting the old mines, which were exploited until the beginning of the last century, on two main categories. The first category is represented by small companies that exploit limited ores, limited to quartz veins bearing gold and are not suitable for large companies. The second category is confined to the exploitation of gold ore with an average of no less than half a million ounces, so that the Shalateen Company will reach, within ten years, a production of more than three million ounces per year.
http://www.smrc.com.eg/about-us/
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My Thoughts:
Producing more than three million ounces a year would put the Shalateen Co. in an elite group of gold mining majors. Finding an international partner will be key to achieving that lofty goal.
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