President / CEO Richard Dunning stated that, in essence, AVRG
now has the potential to produce in excess of two million (2,000,000) troy ounces of gold bullion over the next 10 years, and has a projected asset value of over two billion dollars US ($2,000,000,000US) at current gold prices
production as well as the development of precious and strategic metals derivative programs has compelled management of AVRG to increase its level and scope of metals production beyond just gold.
The combined effect of this program will result in greater revenues for AVRG and a higher degree of insulation from price variation in the market place, due to AVRG's increased production capabilities.
AVRG is currently in the process of evaluating the construction of additional Company owned and operated processing facilities utilizing the AVRG environmentally sensitive technology in other areas of the country and the world.
When the final and complete testing process proves the total currently owned tonnage is consistent with preliminary test results, estimates would equate to a value in excess of two billion dollars of precious metals above ground ready to be processed on behalf of AVRG
This program will identify proven reserves based upon projected economic criteria; commodity needs projected into the future and anticipated improvements in AVRG processing and recovery technology.
AVRG has reached agreement in principle and executed contractual agreements providing for the acquisition of a quantity of geological material proven to contain significant quantities of gold.
In the interest of full disclosure, it should be noted that there is one overlapping member of the Board of Directors of AVRG and Silver City Reduction Co Inc.
Utilizing the full benefits provided by this alliance, it is expected that AVRG will see considerable growth in both its asset base and its production capacity over the longer term.