Latin American Minerals Inc. provides an exploration and operational update on its fully owned Paso Yobai gold project in Paraguay.
The Company continues to advance exploration efforts on its flagship Paso Yobai gold project despite the current downturn in the commodities market. The impressive results to date reinforce Paso Yobai as an important epithermal gold discovery.
Miles Rideout, President and CEO of the Company stated, "At gold prices above $1,200 per ounce, the Company has adequate financial resources for the near and mid-term and will not require additional equity financings. We have several catalysts that could significantly and favourably affect our cash flow such as the imminent addition of heap leach processing, local high grade zones at Independencia Mine within the confirmed pervasive low grade halo as seen in the current quarter, and any improvement in the gold spot price. These catalysts could result in the Company generating adequate cash flow to fund the pilot plant operations and the 2014 drilling program, a top priority going forward."