Business
Maple Leaf Reforestation Inc. - Xinjiang project update
Maple Leaf Reforestation Inc. - Xinjiang project update.
About this update from Maple Leaf Green World, Inc.
[{"type":"text","content":"\n\n\n\n(TSX-V: MPE)\n\n\nShares Issued: 53,781,980\n\n\nLast Close: 10-22-2007 $1.55\n\n\nCALGARY, Oct. 23 /CNW/ - Maple Leaf Reforestation Inc. ("Maple Leaf") is\npleased to report that its Board of Directors have approved the Memorandum of\nUnderstanding ("M.O.U.") with Jilin Saar County of Xinjiang autonomous region\nof China ("Jilin") to establish a Bio Diesel Production Chain (the "project")\nfor Shiny-Leaved Yellowhorn trees ("Yellowhorn"), as previously announced by\nMaple Leaf on October 16, 2007.\n\n\nMaple Leaf will advance $370,000 ($3,000,000 RMB) to commence work on\nthis project immediately. The investment in the first year of the project is\nestimated to be about $1.17 million (9,100,000 RMB). Initial funding will\nassist a new Xinjiang subsidiary of Maple Leaf to handle the project and\nprepare for the planting of 100,000 seedlings and purchase of 300,000\nkilograms of Yellowhorn fruit for cooking oil extraction. The cooking oil\nextraction will be performed by a subcontracted processing plant. The Xinjiang\nsubsidiary will also prepare applications to receive grants and subsidies from\nthe Chinese Government in the next fiscal year.\n\n\nMaple Leaf would also like to provide the following information regarding\nthe project, as the Yellowhorn is a local Chinese species and western\ncommunities may not be familiar with its usage.\n\n\n1. Each mu (0.17 acre) can grow 200 Yellowhorn trees; the 400,000 mu\n provided by Jilin to Maple Leaf under the M.O.U. will be capable of\n growing up to 80 million trees.\n\n2. Each Yellowhorn can produce 2.5 to 3 kilograms of fruit after 3 years\n and 5 to 7 kilograms of fruit after 5 years.\n\n3. Each kilogram of fruit can yield 30% or 0.3 kilograms of Yellowhorn\n oil during the extraction process.\n\n4. Maple Leaf's proposed processing plant will be able to produce\n 100,000 tonnes or 100 million kilograms of either cooking oil or bio\n diesel oil annually by using a chemical processing method.\n\n5. The current market price of Yellowhorn fruit cooking oil is about\n $40 RMB (Cdn $5.18) a kilogram. The Yellowhorn bio diesel oil is\n about $5 RMB (Cdn $0.65) a kilogram.\n\n6. Yellowhorn oil has also been used in China for various medical\n applications, including treatments for Arthritis, AIDS, Alzheimer's\n etc.\n\n\nMaple Leaf...