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PRO-OR (TSX VENTURE:POI - News) is actively pursuing
its Platinum Group Elements ("PGE") production phase at its Saint-Augustin-de-Desmaures, Quebec,
pilot plant.
Since July 2010, the plant operates 12
hours a day using locally bought catalytic converters ("CCs"). Mr.
Leo-Guy Morrissette, Vice-President and Operations
Manager of the St-Augustin plant has
been ensuring the procurement of CCs from local suppliers. Purchases to date
amount to $130,000. Since July there has been some
plant stoppages for various reasons, one of which is a pressure drop in the
reactor. The origin of the problem took some time in being identified. There
was also a need to replace certain ventilator parts. The latest production
report from the plant indicates that the problems have been resolved and the
plant is operational.
A first shipment of three PGE (Rhodium,
Platinum and Palladium) concentrate, produced during this period was shipped
to the refiner a few weeks ago. The processing of 692.5 kg of CC material
produced 9.868 ounces of Platinum, 9.465 ounces of Palladium and 1.894 ounces
of rhodium generating revenues of US$24,457.45. This amount is lower than
anticipated and is attributable to the reactor and ventilator problems which
have now been remedied. To confirm this, Pro-Or must wait for the results of
the next shipment to the refiner expected before the end of 2010.
The St-Augustin
team, led by Mr. Morrissette, has lost one member.
Mr. Alexandre Hebert, metallurgist, which has been
with Pro-Or for 4 years has tendered his resignation
for personal reasons. Pro-Or wishes to thank Mr. Hebert for his participation
in the research and development of the PGE recuperation process.
The Corporation also wishes to announce
that it has amended the Option Agreement signed with Everett Resources Ltd.
They now have until April 30, 2011 to complete $500,000 of exploration work ( or drilling) called for under the Agreement. According
to Everett's management this very important drilling stage should begin by
the start of February 2011. In accordance with the Agreement Everett must
complete $5 million of exploration work on the Menarik
property by the end of August 2013.
Neither TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of
this release.
Contact:
Pierre Gevry
Ressources Minieres Pro-Or Inc.
President
514-849-7336
st-jacques@qc.aira.com
www.pro-or.com |