SOURCE: Plateau Mineral Development, Inc.

February 15, 2011 11:29 ET

Plateau Mineral Secures $20,000,000 in Surety Underwriting for Gold Contract; Purchase and Shipping to Begin

NEW YORK, NY--(Marketwire - February 15, 2011) - Plateau Mineral Development, Inc ("Plateau Metals"). (PINKSHEETS: PMDP) announced it secured purchase and origin shipping financial guarantees for $20,000,000. This amount is expected to fully insure and underwrite the Company's monthly gold-dust purchase and origination shipping contract previously announced. This financial surety and purchase underwriting instantly enables the company to begin performance on its purchase, shipping, and resale of bullion under its recently announced contract.

Approximately 1,000kg of unrefined gold-dust will be purchased per month and shipped to the Company's refinery partners in the USA. The final pure-gold product will then be shipped to its purchaser. The company has negotiated favorable and profitable final-sale pricing on the bullion. Destination shipping surety will be provided by the Company's incoming insurance operations, BEEMA.

The original agreement called for $25,000,000 per annum. The Company's opportunity under this contract has expanded. Updated revenue and profit projections, including insurance details on sales-shipping for the post-refine sale of bullion, will be released Thursday.

About Plateau

Plateau Metals provides precious metal shipping, access to 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