HUNTINGTON BEACH, Calif., May 12 /PRNewswire-FirstCall/ -- FIMA, Inc.
(Pink Sheets: FIMA), an emerging land development company incorporating
resource exploration and mining, oil and gas exploration and extraction,
and commercial and luxury residential real estate development in Central
and South America, announced today that its subsidiary GoldSource has
contracted the final environmental study based on the final mine design
flow line for its Los Mates gold and silver project in Colombia. This
latest step is one of the final regulatory hurdles for the Company before
it begins the actual extraction process.
According to a Company spokesperson, "We are understandably anxious to
move past the final regulatory steps in order to commence further
operations at the Los Mates project, particularly in view of the most
recent geology report detailing the amount of proven, probable, and
possible gold and silver reserves at the site. However, we are also going
to be very careful to conscientiously observe all of the necessary legal
and regulatory requirements so that we can maintain sustained, healthy
production levels for years to come."
Part of the Company's optimism stems from the tremendous opportunities
in the current gold market. Global production of gold was at its peak in
1999 at just over 2600 metric tonnes, but has since hovered at or just
below 2500 tonnes per annum every year since (Source:
http://www.goldsheets.com). These production levels are not sufficient to
meet annual global demand which has averaged more than 3800 metric tonnes
from 1997 to 2002, creating a production shortfall of approximately 50% per
annum (Source: World Gold Council). This tremendous disparity has been made
up through the reintroduction of scrap into the market and the gradual sale
of central bank gold reserves. However, as India and China, the world's
largest and third-largest consumers of gold respectively, continue to
industrialize, demand seems likely to increase, but the supplies of gold
reserves in central banks cannot make up for the production shortfall
indefinitely.
About FIMA and GoldSource:
Through its wholly-owned subsidiary GoldSource, FIMA controls promising
gold and silver property in the highly productive precious metal rich
regions of Colombia. In the Los Mates Project, systematic sampling programs
have demonstrated a tenor average of 10.2 g/ton of gold and 2.3g/ton of
silver. GoldSource is also in the initial phases of negotiations to acquire
additional promising mineral properties in other parts of Latin America as
well. Because of the tremendous demand for gold and the concomitant rise in
gold prices, properties such as Los Mates that have proven and probable
reserves have become highly sought after. FIMA and GoldSource are actively
engaged in the ongoing process to identify overlooked properties and bring
them to production in order to take advantage of the tremendous market
opportunities.
Contact:
FIMA, Inc.
info@fimadevelopmentinc.com
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Source: Real Estate Newswire
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