NEW YORK, Jan. 18, 2011 (GLOBE NEWSWIRE) -- El Maniel International Inc. (Pink Sheets:EMLL) announces today that its gold trading subsidiary, EMLL Mining Limited has received its Gold Buyer's License as issued by the Precious Minerals Marketing Company Limited (PMMC). PMMC is responsible for the purchase and marketing of the precious minerals with head offices located in the Diamond House building in Accra adjacent to the Registrar-General's Department and next to the Ministry of Foreign Affairs. The Company operates in all the small-scale Gold and Diamond areas in the country namely: Accra, Kumasi, Tarkwa , Bolgatanga, Akwatia, Oda and Wa with offices and local Agencies.
EMLL CEO, Jamie Khoo is "very pleased with the headway we are making in this arena. The Gold Buyer's License is part of an overall strategy, integrated with our Gold Mining and Rural Community Bank Acquisitions programs for a comprehensive division with diverse capabilities."
He continues, "We are confident this will significantly contribute toward the company's bottom line and we can now proceed with activities in the Gold Trading division immediately and we will work to foster this division aggressively in line with our mining operations and banking acquisitions in an area that is attracting attention from local government and global mining initiatives from companies large and small. I would like to add that I am very proud of our team and its timing of these projects as I feel we have an excellent full-service strategy which will position us as a recognized contender in the sector."
As Khoo stated in an earlier release, "...the Gold Buyer's License will allow us to purchase gold from other small scale miners as part of our Gold Trading Program…in what we consider to be a high-growth/high-value business…Ultimately, our goal here over and above the direct sales of gold will be to acquire gold at a sought out discount to market, turning immediate profit upon sale, which is highly conducive to our existing circumstances toward an exponential increase in revenue potential."
A scanned copy of the Gold Buyer's License, #024, will be posted on El Maniel's corporate website, later today
El Maniel International executives have also made a move to keep its Investor Relations in-house to ensure consistent and accurate communication with its shareholders as part of its initiative to increase transparency as it finalizes benchmarks in Ghana, West Africa in its Gold projects.
"We are confident this next phase will ensure systematic growth and multiple streams of revenue," states the company's CEO, Jamie Khoo. "We feel its best at this time to keep Investor Relations services close to home as many of the inquiries relate to direct information available only to company officials and we feel its best to be as efficient with answers as possible to foster shareholder confidence, accessibility and market integrity." For best response time, EMLL IR inquiries should be sent via email to: IR@elmaniel.com.
Press Release drafted by NMR, LLC
CONTACT: El Maniel International, Inc. Investor Relations Contact: Gerrard Hollister (310) 909-7988 or company email: IR@ELMANIEL.COM