Starts investing in modernizing its operations
MONTREAL, Feb. 11, 2019 (GLOBE NEWSWIRE) — AM Resources Corporation (“AM” or the “Corporation”) (TSXV: AMR) (Frankfurt: 76A) is pleased to announce that it has started investing in its coal production equipment and installations at its Mina Luz property in Colombia. AM has purchased a truck and a tractor in recent months and recently installed a truck scale and coal loader. It has also begun to reinforce the tunnels entryways and structures.
The Corporation currently produces about 1,000 tonnes of coal per month and purchases an additional 2,000 tonnes per month from subcontractors for resale. The goal for the next 12 months is to increase Mina Luz production to 3,000 tonnes per month.
“The modernization of our operations and reinforcement of our mining infrastructure is essential for the safety of our miners, a top priority for us, and should have a positive impact on our results,” said Dominic Voyer, President and CEO of AM Resources. “This investment in Mina Luz is part of our growth and sustainability strategy. We also plan to do the same type of improvements at our other projects.”
The technical and scientific content of this press release has been reviewed and approved by Pierre O’Dowd, P. Geo., the Corporation’s qualified person under National Instrument 43-101.
About AM Resources Corporation
AM Resources Corporation is a mining company specialized in the acquisition, development and operation of mining properties in Colombia. AM is focusing on Colombia’s excellent mineral potential and favourable political climate to develop its mining activities. The Corporation is also engaged in gold brokerage activities through its subsidiary, AM Resources Trading Corporation.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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