Moscow, Russia – April 2, 2014 -- Markray Corp. (OTC Pink: RVBR) (PINKSHEETS: RVBR) announces the start of the new product certification -- the transparent iron oxide pigment. The Company prepares needed documentation for representation in the All-Russian centre of production and services certifications. After certification ends the Company will start production. Within two years the company will reach in 300 000 ton/year production volume. It will generate a cash flow of $500-600 million. Commodity production on the basis of innovative technologies will allow to reduce production cost in comparison with competitors by 25-30%.
"Annual growth rate of the transparent iron oxide pigment market is 20-25%. The Company sees high potential in this direction, the market even taking into account import is far from saturation. The wide range of a product application guarantees stable sale," said Borisov Alexey, Markray Corp. president.
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
Forward-Looking StatementsThis 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.
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SOURCE: Markray Corp.