FRANKFURT, Germany, March 30, 2011 (GLOBE NEWSWIRE) -- The board of directors of Arequipa Minerals Ltd. (Arequipa), a Canadian corporation, has recently approved the action of determining the best methodology to list the Company with the Frankfurt Stock Exchange. The chairman of Arequipa's board of directors comments that the Frankfurt Stock Exchange offers a unique opportunity to fund mining operations in Peru. At this point in time, Arequipa's consultants have advised that the Frankfurt Stock Exchange gives the equity market that matches Arequipa's capital needs.
Arequipa's President, Paul Luna, comments, "Arequipa's capital structure along with its potential near term earnings should make us attractive to investors. We expect that an auditor's appraisal of the mine's assets is expected to exceed the exchange's listing requirements for capital. That asset copper-gold mine named Huaricangana in Nazca, Peru has recently penetrated the sulphide zone, which means ore shipment to the joint venture partner's nearby plant should start by next month. A buyer for the oxide stockpiles is being sought."
The board acknowledges the updated rules of the Frankfurt Stock Exchange (FWB) requiring €500,000.00 and a minimum par value of € 0.10 cents per share. Mr. Luna continues, "Even if we take a conservative look at the current price of gold and copper and deduct 20% off from its price, we still expect that our mineral concession can be potentially valued over US$6,000,000 which allows us to easily meet the FWB listing requirements."
Arequipa expects to have its auditor and legal team complete the mineral concession valuation and listing application before the 3rd Quarter of 2011.
About Arequipa Minerals Ltd.
Arequipa Minerals Ltd., a Canadian Corporation, is a low-cost gold producer operating in Arequipa, Peru. Arequipa has entered into a joint venture agreement on gold properties, in order to satisfy a purchase agreement to source gold ore to our senior partner's processing plant.
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This Press Release may contain certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The Company has tried, whenever possible, to identify these forward-looking statements using words such as "anticipates", "believes", "estimates", "expects", "plans", "intends", "potential" and similar expressions. These statements reflect the Company's current beliefs and are based upon information currently available to it.
Accordingly, such forward looking statements involve known and unknown risks, uncertainties and other factors which could cause the Company's actual results, performance or achievements to differ materially from those expressed in or implied by such statements. The Company undertakes no obligation to update or advise in the event of any change, addition or alteration to the information catered in this Press Release including such forward-looking statements.
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