Barra De Tijuca, Brazil (PressExposure) August 26, 2013 -- Mr Chris Jarvis, Chief Executive Officer at C2C Exploration made a statement early this morning on-site at the C2C mine in Bahia, informing staff and press attendees that ore exports have already begun following greater than expected demand.
The site known as the Ibirapuera Mineracao which hosts a closed underground copper and gold producing mine, has been the focus of much media attention over the past 12 months due to C2C Exploration seeking US$300 million in investor capital to finance exploration drilling on the site.
According to Chief Executive Officer at C2C Exploration Mr Chris Jarvis, the mine has now begun to produce at a rate sufficient to commence production and exportation to fill orders. Mr Jarvis commented on the announcement privately stating "What this means is that we have begun to realise our ultimate goal. The work we have all put in up until this point has been leading to this, so everyone here was unsurprisingly pleased by today's announcement".
While C2C Exploration is already generating profits from its capital invested at the Bahia site, it will be some time before those returns allow C2C Exploration to break even, however Chief Executive Officer Mr Chris Jarvis remains entirely confident that the Ibirapuera mine will in time become the prime asset of C2C Exploration, and further suggests that export levels will drastically increase over the coming twelve months as exploration continues on the site.
Aside from currently estimated reserves of over 4.2 million ounces of mineral gold, the mine itself has been shown to contain large iron and copper mineralisation also, which C2C will process.
About C2C Exploration
The company's current portfolio of assets comprises three exploration projects with epithermal gold, and reserves of other minerals in the area around Sao Paulo, Brazil.
C2C Exploration is committed to building and maintaining shareholder value, and has a strategy focused on constructing a diverse portfolio through exploration and acquisition of early stage projects with high potential. The current portfolio includes several projects with proven reserves, and early stage projects involved in the exploration for gold, copper, iron, and nickel.
The company's' Santo Amaro project is its prime asset and is located in northern brazil, and is wholly owned by C2C exploration.This property has an area of 30,000 hectares, and proven reserves of 2,000,000 ounces of gold. Production began on the Santa Amaro project in 2008.
The other two major assets owned by C2C Exploration are still in the exploration and development stages, but each lies within 60km of a high yielding, well established mine. Exploration on the Sao Bento site, began following its acquisition in 2011, whilst exploration of the Ibirapuera site began in early 2012.