Markray Corp. (OTC Pink: RVBR) announces a new product -- a transparent iron oxide pigment. By result of the conducted laboratory researches on the basis of modern innovative technologies in the Center of expert systems of technological audit and certification of mineral raw materials "NVP Centr-ESTAgeo" (http://www.estageo.ru) is revealed possibility of extraction the transparent iron oxide pigment (TIOP) from the lixiviation tailings. TIOP is one of the great worth and scarce types of industrial raw materials, the component of composite materials giving to materials opacity, color, anticorrosion and other properties. Depending on a type of TIOP market price fluctuates from $2,500 to $4,000. The largest producers are Rockwood Holdings, Inc (USA), AGROFERT Holding Inc (Czech Republic), BAYER Concern (Germany).
In domestic market the only enterprise making TIOP is the Yaroslavl Pigment company. This company capacities isn't enough for satisfaction of requirements of the Russian Federation industry therefore any deficit is covered by import.
"The cumulative transparent iron oxide pigment reserves of our company are 9 million tons. Under current market conditions Markray Corp. capitalization will increase approximately by 7-8 billion dollars" -- said Alexey Borisov, president of Markray Corp.
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About Markray Corp.
Markray is in the business of extracting precious metals and transparent iron-oxide pigment from technogenic dumps which are all above ground. A geological audit of its current reserves concludes that there are the following minerals in the stockpile currently being processed:
Gold: 2 186 495 ounces; Silver: 23 781 350 ounces; Platinum: 115 756 ounces;
Transparent iron-oxide pigment: 9,000,000 tons
The company plans to acquire additional facilities to increase its reserves.
This news release contains "forward-looking statements," as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release that are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future.
SOURCE: Markray Corp.