Science & Technology
Science and Technology
Science and Technology
Tue, July 14, 2009
General Metals Corporation : General Metals CFO Reviews Company Progress Towards Production in Wall Street Reporter Interview
RENO, NV--(Marketwire - July 14, 2009) - General Metals Corporation (the "Company") ( To view the interview in its entirety, please go here[ http://tv.wallst.net/3-minute-press/380/1510/GNMT/daniel-forbush/general-metals-corporation/ ]. Ask Daniel a question, post a comment on his profile page and visit his financial social network by going here[ http://my.wallst.net/daniel-forbush-gnmt ]. About General Metals Corporation: General Metals Corporation is an aggressive junior minerals exploration and development company, based in Reno, Nevada. The Company is actively exploring its 100% controlled Independence property strategically located in the prolific and highly prospective Battle Mountain Mining District, Nevada. Permitting and Engineering for heap leach production is underway at the Independence Mine. The Company recently entered into an agreement to sell its 150 sq. km. mining concession for gold, diamonds and base metals in Ghana, West Africa for $1,000,000 in cash and stock and retains a royalty. For a more complete discussion of Company activities at the Independence Project, please visit the Company's website [ www.gnmtlive.com ] Notice Regarding Forward-Looking Statements 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 which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, that the proceeds from the recent private placement will allow the Company to proceed with permitting at its Independence Mine in Nevada or any shallow mining production later this year, that any estimated ounces of gold or silver are contained in the mineralized material in the "Shallow Target," and is proposed to be mined and loaded onto a cyanide heap leach pad, or any future financings that the Company may enter into. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with mineral exploration. We are not in control of metals prices and these could vary to make development uneconomic. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-KSB for the 2008 fiscal year, our quarterly reports on Form 10-QSB and other periodic reports filed from time-to-time with the Securities and Exchange Commission. 1. The Company's Independence Project has all the elements to be a company builder and exhibits many similarities to the Glamis' Picacho Mine which was the profitable property that started that company and provided the foundation of a very successful mining company which eventually resulted in a sale of the Company to Goldcorp for more than $50 per share. 2. The Independence Project includes both a shallow and a deep component. The shallow mineralization appears to be amenable to low cost open pit mining and heap leaching. 3. The Company's business plan is to become a mid-tier mining company using the Glamis model beginning with the Independence and acquiring other projects which will allow it to become a more than 200,000 ounces per year gold producer. 4. We are progressing on the permitting to bring the project into production as soon as possible
