ABV Gold, Inc. Finalizes Financing for Russian Operations
Wednesday October 31, 6:55 pm ET
MONTREAL--(MARKET WIRE)--Oct 31, 2007 -- ABV Gold, Inc. (Other OTC:ABVG.PK - News) (Frankfurt:AB8.F - News) is pleased to update shareholders on recent developments in its Russian business activities.
ADVERTISEMENT
"Our Russian business activities are key to the future of our company," reported Daniel Ryan, President of ABV Gold Inc. "Our property in Russia is in a historically significant area for gold production. Our mine first produced gold in 1842. Our project has 25.84 metric tons of reserves. A metric ton of gold is worth $25,134,874
Metric Tonne of Gold Our intention is to fund the company this month in order to maximize gold production at our site. We have finalized a term sheet with an investor group for $10 Million USD. This term sheet will be executed by the company when the stock price reaches $.15. Management of ABV Gold Inc. has determined that the company should have a valuation of between $.15 to $.25 per share. The use proceeds will allow us to upgrade our onsite facilities including the conveyor systems, separators and crushers. This financing will give the market new valuation parameters for the company."
Mr. Ryan also commented, "Our property is near Kinross Gold which trades in Canada. They have also seen the value of being involved in gold mining in Russia. Russia is currently the sixth largest gold producer in the world, yet holds the world's second largest gold reserves (after South Africa), and production costs in Russia are substantially lower. We think a resource rich country as Russia is an excellent choice for ABV Gold Inc. Gold crossed the $800 USD per ounce barrier yesterday. The analysts at Credit Suisse are calling for gold to surpass $1000 USD per ounce in 2010 (
Page Unavailable. ABV Gold Inc. is very well positioned in Russia to take advantage of the bull market in gold."
About ABV Gold
ABV Gold is a publicly traded, junior mining-exploration company headquartered in Montreal, Canada. The company pursues the acquisition and development of mining properties known to contain significant mineral assets, principally uranium and or gold. For additional information, please visit the corporate website at
ABV Gold Inc. - ABVG:OTC.
Contact:
Contact:
Daniel Ryan
President
dryan@abvgoldinc.com
1-514-448-2193
Dale Baeten
dale@midweststockconsultingllc.com
1-920-418-0153