When a mining company announces that they have a significant
amount of proven reserves, it is music to a shareholder’s ears. Star Mountain
Resources, Inc. (OTC: SMRS) recently reported that its Balmat Mine in New York
has a proven and probable reserve estimate of 585,000 tons of 9.2 percent grade
zinc that could generate $80.8 million in revenue over an initial 2.5 year mine
plan. The company acquired the Balmat Mine back in November 2015, and this kind
of news is exactly what has been the stalwart of Star Mountain since it’s
beginning – to seek out and acquire solid revenue producing mining projects.
Star Mountain Resources is a junior exploration and mining
company focused on acquiring and consolidating mining claims, mineral leases,
producing mines, and historic mines with production and future growth
potential. The company’s operations are currently focused on base metal and
precious metal mining acquisitions in North America and re-commencing mining
activities at the Balmat Zinc mine in upstate New York.
There is no substitute for experience, especially in the
mining industry. Knowing the history of potential acquisition areas is
essential for a company like Star Mountain Resources to continue to grow and
prosper from seeking out and pulling the trigger on exceptional acquisition
targets such as the Balmat Mine. Joe Marchal, CEO of Star Mountain Resources,
stated in a press release about a report on the Balmat Mine, “We believe the
findings in the IG7 report are very positive and reaffirm our confidence that
the geological and engineering conditions reflected in the long production
history of the Balmat mining operation can be sustained well into the future
beyond the initial 2.5-year plan. We continue to evaluate the current zinc
market and the best strategy to move forward with a production plan and
schedule. Moreover, it will form an integral part of our long-range plan for
the safe, efficient and effective operation of the mine.”
Good research and timely decision making are themes to take
out of this acquisition. Star Resources management had the experience needed to
perform all the necessary due diligence before pulling the trigger on the
Balmat acquisition. It appears from the initial estimates, along with
verification by the IG7 report, that it was a good call.
For more information, visit www.starmountainresources.com
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