Founded by senior executives and geologists with experience in the major gold production companies, Elray Resources saw a niche for a company that could combine the level of expertise typically found in a major company with the responsiveness, speed and growth potential of a junior firm. It’s this quick, nimble movement of Elray Resources that has led them to the latest in mineral finds – the Indonesian Zircon Sands.
Indonesia has some of the world’s largest deposits of zircon sand, coal, copper, tin, nickel and gold, and is keen to earn more from the sector particularly as strong demand from China and India is driving prices up for many commodities to record levels. Use of the sand in major electronics such as Plasma and LCD screens are only upping the demand for Zircon Sand mining.
Major mining companies operating in Indonesia include the largest publicly-traded copper company in the world Freeport-McMoran (FCX), the largest gold producer in the world, Newmont (NEM) and Rio Tinto (RTP). All have been successful in their quests for shareholder appreciation and valuation.
Elray Resources has successfully assembled a portfolio of highly prospective target properties in strategic locations in South East Asia and North America, not just in Indonesia. The portfolio includes three properties totaling over 15,000 hectares in Cambodia, one of the last frontiers for precious/base metal discovery and development. Mining has exploded in mineral-rich Cambodia, was only recently opened up to exploration using modern techniques. Cambodia has emerged as a stable and pro-business country in the region, with annual GDP growth expected to be 7.5% in 2008, according to the Asian Development Bank.
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