Business
SStarTrade Tech, Inc. Press Release
SStarTrade Tech, Inc. Press Release.
About this update from Sstartrade Tech, Inc.
[{"type":"text","content":"SStarTrade Tech Ltd, a Nevada company, owns 74% of a Swiss company called SStarTrade SA. This Swiss company controls 100% of the shares of two companies in Russia, one being LLC Gaysky steel plant in the Orenburg region and the second – gold mining company LLC Favorit Centre.LLC Favorit Centre holds a Licence to conduct geological surveys and to conduct extraction work in the Trans-Baikal region of eastern Russia.For the purpose of strict observance of this Licence agreement, and accomplishment of the Business plan of the Project on the organization of extraction of ore gold in the Trans-Baikal Territory of the Russian Federation, (as uploaded on the website www.sstartradetech.com) the Board of Directors of SStarTrade SA decided, in May 2017, to perform first-priority financing of urgent costs, such as evaluation and geological exploration works and acquisition of mining and quarrying equipment.In order to accelerate the analysis and elaboration the outcome of the surveys conducted in the past years, SStarTrade SA has secured a financing facility for 8 Mio USD.This financing allowed the analysis that shall permit the confirmation and announcement of 3 to 5 tonnes of gold to the state balance with the Federal Subsoil Resource Management Agency of the Russian Federation in February 2018.The financing originates from the activity of the LLC Gaysky steel plant in Orenburg region (Russian Federation) at the moment controlled by SStarTrade SA which in turn belongs for 74% to SStarTrade Tech, Inc.SStarTrade Tech, Inc. is convinced that the project shall be able to finance itself in short term thanks to the very positive outlook of the extraction activity.","length":1815,"tagName":"div"}]