Business
Foy-Johnston Announces It Has Begun Exploration In Eastern Region of Cameroon
Foy-Johnston Announces It Has Begun Exploration In Eastern Region of Cameroon.
About this update from Foy Johnston Inc
[{"type":"text","content":"\n\n\n\n\n\n\n\nFoy-Johnston Announces It Has Begun Exploration In Eastern Region of Cameroon\n\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:\"0in\";\n}\n\n\n\n\n\n\n\n\n\n\nFoy-Johnston Announces It Has Begun Exploration In Eastern Region of Cameroon\n\nPR Newswire\n\nLAS VEGAS, March 12, 2013\n\n\n\n\n\n\n\nLAS VEGAS, March 12, 2013 /PRNewswire/ -- Foy-Johnston (OTCPink: FOYJ), announces that it now has the two exploration dredges on site and in operation in the Eastern Region of Cameroon. This begins the process of proving up the location and quantity of alluvia gold, that we know is there. \n\n\nThe company has now successfully transported the second phase of equipment from our staging area in USA via container to Cameroon. This finishes the movements needed of the equipment into Cameroon to begin the second phase of bulk sampling, pre-production, pitting and high grade gold recovery before a commercial system can be approved, transported and assembled for larger scale exploitation planned. The team of Cameroonian and Americans currently on location is being led by our Senior Operations team Mr. Kabir Maina and Mr. Bala Maina. We have begun the process of \"Dredging for Gold.\" We are looking forward to showing additional raw gold bearing material immediately as this portion of the process is now completed.\n\n\nThe Company has been successfully proven that large scale mining operations in the region will produce significant amounts of gold at costs much lower than traditional underground mining operations. Recently announced costs by some of the major mining operators around the world have disclosed that they has been suppressing actual operating costs and margins are much lower than the industry was led to believe. Because we are mining alluvia gold with local labor our actually extraction costs are well below those of underground or open pit operators. This allows more of the sales dollars to fall to the bottom line profit number. We are anticipating that our profit margins to be in the 70% to 75% range. Giving increased earnings per share results and increasing the shar...