Oct 25 2018
Ensurge, Inc. is pleased to announce that the company has advanced its permits on the Kaburi gold project from prospecting licenses to a mining license. The company has completed the prospecting phase and is now permitted to go into production.
In April of 2018, Ensurge commenced pilot operations at the Kaburi property while prospecting the property to determine the prime areas for production. Ensurge completed detailed geological reports for the entire property. The reports were satisfactory to the company's management team. Pursuant to an October 11th Board of Director's meeting, the Board unanimously decided, subject to financing on satisfactory terms, to move forward and start an aggressive production program on the Kaburi property. The company has prepared a budget to start production on the first two locations identified by their prospecting as well as their independent geological reports that were prepared on behalf of the company. The initial production budget is USD$2,746,375.00. Both locations are scalable, and depending on the results of the initial operations, management will decide where to deploy any additional capital to increase scale. The company is anticipating production in the first quarter of 2019. There are no assurances that the program will be a success or that the financing will be available to commence production.
Ensurge continues its goal to be a significant producer of tantalite. Over the past two years, the company has acquired several tantalite properties. Ensurge has completed several independent geological reports on these properties and is currently evaluating the economics and logistics for potential production. Efforts to design and engineer a Tantalum refinery continue to progress.
In May of 2018, Ensurge completed its audit for fiscal years 2016 and 2017 with SD Mayer, a San Francisco based PCAOB auditing firm, and the audited financials are included in the 2017 annual report. The company is now completing accounting reviews for the first three quarters of 2018 in anticipation of filing SEC form 10 to become a SEC fully reporting company.
Source: http://ensurgeinc.com/