Shamika2Gold (Shamika) acquires 85% of MIG International Mining Group (MIG), a Mauritius company, that has concession of license in gold and ruby exploration in Cambodia.
Shamika bought capital stock of MIG by exchanging shares of Shamika common stock and Series B Performing Preferred Stock entitling the holder to 45% of the net operating profit from the mining project.. MIG holds Shamika’s shares in escrow until it receives all essential manufacturing licenses and begins two months of commercial production.
The license area covers roughly 158 square miles in the Samlaut district of Cambodia. Terra Insight Services, a subsidiary of Terra Energy & Resource Technologies prepares the phase 1 and 2 survey report of the area and suggests possibility of 1.5 million ounces of gold and 9,000 kilograms of rubies.
Shamika has the policy of discovering, growing, and producing gold from latent high-value projects in unseen and rising countries. MIG hunts for new management teams that have potential to work globally with Shamika. This acquisition makes an outstanding team and swift advancement in Asian portfolio.
During 2011, Shamika has prepared an aggressive plan to make much production in MIG projects, and will notify shareholders of further progress in the coming months.
Source: http://www.shamika2gold.com/