SOURCE: Plateau Mineral Development, Inc.

March 31, 2011 10:54 ET

Plateau Mineral Development to Consolidate $80,000,000 Financial Underwriting Guarantees Into Single Instrument

NEW YORK, NY--(Marketwire - March 31, 2011) - Plateau Mineral Development "Plateau Metals," (PINKSHEETS: PMDP) announced today it has restructured its financial and underwriting agreements from its primary financial partners. The Company had originally negotiated separate financial guarantees for $20,000,000 and $60,000,000 for shipping surety and acquisitions, respectively.

The Company has combined these commitments into a single Financial Guarantee allowing the Company the flexibility to utilize it for multiple purposes, including surety underwriting for customer transactions as well as financial backing for the Company's prospective acquisitions. The financial guarantee is backed by cash and cash-equivalents on custodial deposit with Deutsche Bank and the Company's Investment Banker partners.

The new consolidated financial guarantee has an interest rate 2% lower than the prior separate agreements fee rate of 10%.

The Company will issue updates on the status of its current planned acquisitions and further information on new prospective acquisitions and operations.

ABOUT PLATEAU METALS

Plateau Metals provides precious metal trading, shipping, production, transaction underwriting, and related services. Plateau operates across the world through its agents and offers service to multiple jurisdictions. Plateau offers complete solutions to buyers and sellers of precious metals that include storage, shipping, and transaction underwriting and arbitrage. 

Plateau also acquires, develops, integrates and operates strategically aligned precious metal assets in worldwide markets where expansion is planned through additional investments to support organic growth; thereby providing significant revenue, and equity growth.

The company's operations are distributed across multiple international time zones with executives and agents located in client-appropriate locales. The company's website is www.plateaumetals.com .

Safe Harbor Statement:

This information includes certain "forward-looking statements." The forward-looking statements reflect the beliefs, expectations, objectives and goals of the Company management with respect to future events and financial performance. They are based on assumptions and estimates, which are believed reasonable at the time such statements are made. However, actual results could differ materially from anticipated results. Important factors that may impact actual results include but are not limited to commodity prices, political developments, legal decisions, market and economic conditions, industry competition, the weather, changes in financial markets and changing legislation and regulations. Matters discussed in this press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include but are not limited to risks and uncertainties associated with the impact of economic, competitive and other factors affecting the Company and its operations, markets, product, and distributor performance, the impact on the national and local economies resulting from terrorist actions, and U.S. actions subsequently; and other factors detailed in reports filed by the Company. Forward-looking statements are intended to qualify for the safe harbor provisions of Section 21E of the Securities and Exchange Act of 1934, as amended.

Contact Information

  • CONTACT:
    Plateau Metals
    Investor Relations
    New York: 1.917.463.3364
    London: +(44) (0)20 337 17122
    Fax: +(44) (0)208 338 0655
    info@plateaumetals.com