NPEC is pleased to announce that it will begin commercial production on Dec.
Under terms of the original agreement, NPEC was to pay US $350,000 to the property/mill owners over the next 15 months and 5 percent royalty when production commenced.
October 20, 1997, Paul Baker, NPEC geologist and project manager, announced the commencement of hydrostatic tests on the 1000 ton a day flotation plant.
Systems, running at full capacity by January 1998, are projected to produce 62 ounces of gold per day with a net US $132,000 per month to NPEC.
Medinah), NPEC retained a 20 percent working interest in the Mina Claudia and Andacollo fields in Chile, as well as an equity interest in Medinah of 14,000,000 shares.
On May 20, 1996, NPEC acquired 100 percent of Metroplus Communications Corporation by way of a shares exchange agreement.
The Indonesian gold project of which NPEC was a 20 percent participant was part of a consortium pledged to provide exploration and development funds for the project.