Updates for ELRA, CMP, and SLW
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Elray Resources, Inc. (OTC.BB:ELRA) recently reported that numerous institutions and agencies expect that in the coming years that Ecuador's Mining sector will be a major engine of growth. Also compared to other Latin American countries the current investment climate is extremly favorable. A dollarized economy, combined with a stable political culture and low wage levels, create many opportunities for foreign investors. Other investment advantages include an abundance of natural resources and the fastest growing economy in the region, with a non-oil GDP growth rate of 6% for 2010.
ELRA is a junior exploration and development Corporation which has successfully accumulated a portfolio of highly prospective, heavily mineralized mining tenements in South East Asia and South America. Elray Resources, Inc.'s, primary objectives are to source projects, conduct geological assessments and seek Joint Venture partners to develop the properties.
Compass Minerals (NYSE:CMP), subsidiary North American Salt Company, recently reported the addition of a new, premium, pet-friendly product to its Safe Step family of ice melters. Sure Paws, an all-natural, fast-acting ice melter, doesn't irritate pets' paws but melts ice down to minus 15 degrees Fahrenheit. Pets are an important part of families, so this extremely efficient product will keep residential driveways and walkways safe but is easy on pets' paws and skin, said Jerry Bucan, vice president and general manager of NASC's consumer and industrial business.
CMP is a leading producer of minerals, including salt, sulfate of potash specialty fertilizer and magnesium chloride. The company provides highway deicing salt to customers in North America and the United Kingdom and specialty fertilizer to growers worldwide. Compass Minerals also produces consumer deicing and water conditioning products, ingredients used in consumer and commercial foods, and other mineral-based products for consumer, agricultural and industrial applications. Compass Minerals also provides records management services to businesses throughout the U.K.
Silver Wheaton Corp. (NYSE:SLW) is pleased to announce that, as reported by Goldcorp Inc. in a press release, the second sulphide processing line at Goldcorp's world-class gold-silver-lead-zinc Penasquito mine in Zacatecas, Mexico, has achieved mechanical completion ahead of its previously expected third quarter completion date.
SLW is the largest silver streaming company in the world. Forecast 2010 production, based upon its current agreements, is 22.2 million ounces of silver and 20,000 ounces of gold, for total production of 23.5 million silver equivalent ounces. By 2013, annual production is anticipated to increase significantly to approximately 38 million ounces of silver and 59,000 ounces of gold, for total production of over 40 million silver equivalent ounces. This growth is driven by the Company's portfolio of world-class assets, including silver streams on Goldcorp's Penasquito mine and Barrick's Pascua-Lama project.
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