Business
Globex: Shareholders' Update
Globex: Shareholders' Update
About this update from Plato Gold Corp.
[{"type":"text","content":"\nGlobex: Shareholders' Update\n\n\n Jul. 13, 2009 (Baystreet.ca) -- ROUYN-NORANDA, QUEBEC, CANADA -- GLOBEX MINING ENTERPRISES INC. (TSX: GMX)(FRANKFURT: G1M)(PINK SHEETS: GLBXF).\n\nIt has been a while since we did a shareholders' update, mainly because we are inundated by technical work which while important, may not be material from an investor perspective. \nIn any case, we have been moving forward on many fronts and below I will quickly review some of the efforts and results to date. \nOf primary interest to many shareholders is our Deloro magnesium talc project. In partnership with Drinkard Metalox, we have made significant advancements in laboratory and bench scale test work and in fact have completed both sets of testing. Results have been favourable with indications that we can produce Magnesium Oxide with a purity exceeding 99%. In addition, we can liberate a high quality talc with characteristics which meet the parameters required by the plastics industry. Furthermore, we have found that a number of other substances can be separated and we are looking at the economic viability of these additional products as well as studying the production of a number of other magnesium speciality products. \nWe have a team of five engineers/metallurgists working on the project and have spent over $1 million CA advancing our understanding and application of the DMI hydrometallurgical technology to our Deloro township magnesite-talc mineralization. \nA drill program has been completed near the center of the mineral body in order to provide material for additional test work and detailed mineralogical and chemical analysis. This work has been completed and an outside firm has been retained to complete a NI 43-101 resource calculation. \nPresently, we are doing flotation test work at SGS Lakefield Research in Ontario and a number of other critical analysis at other speciality labs. Upon completion of this test work, it is our intention to undertake a mini pilot plant test before proceeding to a full blown pilot plant test. \nKPMG Corporate Finance LLC has been working with us to secure long term funding for the project and has recently completed the Preliminary Information Memorandum for distribution to prospective partners. There already have been a number of preliminary expressions of interest. \nNo additional fieldwork has been undert...