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Maxam Gold Corporation Announced Today That Maxam Gold and Pembina Limitada Have Entered into a Joint Venture Agreement with Comanche Capital, Inc. to Purchase Nicaraguan Gold
Maxam Gold Corporation Announced Today That Maxam Gold and Pembina Limitada Have Entered into a Joint Venture Agreement with Comanche Capital, Inc. to Purchase Nicaraguan Gold.
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[{"type":"text","content":"\n\n\n\n\n\n\n\nMaxam Gold Corporation Announced Today That Maxam Gold and Pembina Limitada Have Entered into a Joint Venture Agreement with Comanche Capital, Inc. to Purchase Nicaraguan Gold\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\nMaxam Gold Corporation Announced Today That Maxam Gold and Pembina Limitada Have Entered into a Joint Venture Agreement with Comanche Capital, Inc. to Purchase Nicaraguan Gold\n\nPR Newswire\n\nLAS VEGAS, Jan. 24, 2013\n\n\n\n\n\n\n\nLAS VEGAS, Jan. 24, 2013 /PRNewswire/ -- Maxam Gold Corporation (Pink Sheets: MXAM) http://www.max-amgold.com, a leading gold mining and development company, announced today that Pembina Limitada S.A. and Maxam Gold Corporation have entered into a joint venture agreement with Comanche Capital, Inc. to purchase Nicaraguan gold.\n\n\n\nCharles Langrill, President and CEO of Maxam Gold Corporation, stated: \"Maxam Gold Corporation and Pembina Limitada, S.A. a Nicaraguan Corporation, which is a wholly owned subsidiary of Maxam Gold Corporation, have entered into a Joint Venture Agreement with Comanche Capital, Inc. to purchase gold from the indigenous people of Nicaragua. Pembina Limitada S.A. has a unique relationship with the indigenous people of the rainforests of Nicaragua, which allows the Company to purchase gold at a discount of the market price. Pembina Limitada S.A. can purchase gold at reduced prices due to the remoteness of the region, where the indigenous people are mining and the difficulty of them reaching a qualified buyer. Nicaragua is a 3rd world country with widespread poverty so no local buyers exist that can consistently purchase gold at or near current prices. The travel time from these areas to the capital of Nicaragua, Managua, is sometimes 10 hours or more so the local people are happy to sell gold at a discounted price. The discount is usually 15 to 22%. Maxam-Pembina will start buying gold at the one kilo level at the price of $40,000 per kilo and selling for $50,582 averaging a 22% margin. This will quickly move up to 12 kilos a week, which represents $...