Business
PHI Group Update from CEO Henry Fahman September 14, 2017 - Corrections
PHI Group Update from CEO Henry Fahman September 14, 2017 - Corrections.
About this update from Phi Group Inc. (wy)
[{"type":"text","content":"PHI Group, Inc., (www.phiglobal.com; OTCQB: PHIL), a company focused on acquisitions and investments in natural resources, energy, agriculture, healthcare and special situations, announced today that the Company’s CEO has provided the following corporate update: Dear PHI Group Valued Shareholders,In my last update, I covered our continuing efforts to manage and eliminate convertible debt in our Company. This is very important to our business from the standpoint of appreciation of our equity in the marketplace.At the same time, we have had a significant number of transactions, which we have announced through the newswires and posted on our website and social media.I understand that investors are looking for us to quantify these transactions. It is important that we do so to illustrate the value proposition in ownership of our Company’s stock. It is not easy to place specific valuations on some of the business transactions we have not completed but over the course of more updates, I will cover valuations as best I can while remaining within the bounds of the law and regulations as put forth by the regulatory agencies.American Pacific Resources, Inc. Mining Claims and HYMAX HD Processing TechnologyI will begin with our most recently announced definitive Agreement of Purchase and Sale to acquire a 51% interest in twenty-one mining claims over an area of 400 acres in Granite Mining District, Grant County, Oregon through our wholly owned subsidiary, American Pacific Resources, Inc. (APR).The precious metals on this property have long been considered inaccessible and economically unfeasible because of the money, time, effort and overall difficulty to extract the metals. However, through APR, we have the technology to economically extract these precious metals through HYMAX HD processing technology. Without this technology, these metals would remain in the ground for eternity.The potential valuation of this property considering the precious metals which include gold, silver, platinum, and palladium could be as high as $3,000,000,000 at current prices. For the next three years, we expect to generate $6 million in revenue from 6,300 ounces of gold that will be recovered in 2017, $53 million from 54,750 ounces in 2018 and $107 million from 109,500 ounces in 2019. These numbers can be higher if we increase the scales of operation.Abund...