SOURCE: AVEW HOLDINGS INC.
December 01, 2016 09:00 ET
AUSTIN, TX--(Marketwired - Dec 1, 2016) - AVEW HOLDINGS Inc. (OTC PINK: AVEW) today announced that the company CEO will be doing a site due diligence visit of Azrock Holdings LLC (Azrock) in Prescott, Arizona in the coming week.
AVEW CEO will be on a three-day site visit to Azrock Holdings LLC to see site operations, financials information, expansion requirements, and ore supplies. Azrock has indicated that the current ore supply is available for the next several decades. Azrock has been heavily involved in the precious metals recovery and smelting business over the last 8 years. Azrock uses an eco-friendly process of leaching gold and silver from ore bodies. Current operations are ready to process one ton of ore per day with the capacity to process up to three tons per day. Near future plans is to upgrade the plant equipment to increase production to ten tons per day.
AVEW and Azrock are working on a definitive asset purchase, in which AVEW will acquire 20% of Azrock in 2016, an additional 20% first quarter of 2017 and an additional 50% by end of 2017. Management support, expansion, and operations will be detailed during the site visit.
Commenting on the transaction, CEO, Jose Chavez, stated, "AVEW and its management have been very excited about this new opportunity. The raw ore recovery and smelting is a long-term business model in the precious metals business that offers significant growth to AVEW."
About AVEW HOLDINGS, Inc.
AVEW Holdings is in the retail and wholesale business of precious metals.
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