 Prom
Resources, Inc. (OTC: PRMO) is currently engaged in
the active exploration and extraction of gold ore, corundum
and beryl material at eight different mining and exploration
perimeters in Madagascar.
The Company
then has agreements in place with certain third party company's
to sell its extracted material.
Corundum
and Saphires
All gem
quality corundum that is not red is called a sapphire. Sapphires
occur in a broad range of colors such as blue, orange, yellow,
violet, green, white and pink. Unless a color is stated, sapphire
is assumed to be blue.
Gem corundum
is mined almost exclusively from gem gravel deposits. These
deposits are derived from the weathering of high temperature
metamorphic (marble, gneiss) or igneous (volcanic or pegmatitic)
source terrain.
Madagascar
plays host to a number of volcanoes, creating abundant formations
of igneous rock, a perfect environment for plentiful deposits
of corundum. Madagascar is known for its wealth of Ceylon-like
blue Sapphires.
 Madagascar
FAQ
Location:
Measuring 988 miles in length and 357 mile wide, Madagascar
is the world's fourth largest island and is located south of
the equator, 250 miles off the East Coast of Africa.
Terrain:
The versatile terrain of Madagascar features a chain of mountains
that cascade through the east-center of the island into the
Indian Ocean, providing shelter and nutrients to a lush tropical
coastal plain. To the west of the mountains, a wider, drier
plain hosts forests and vast areas of savanna grassland.
Climate:
Being located close the equator Madagascar maintains mostly
tropical temperatures. However, the temperatures can drop to
freezing at higher elevations in the south. Rainfall in Madagascar
also varies. The Eastern coast experiences rain on almost a
daily basis, whereas the South averages only 51 days of rainfall
per year.
Culture:
Madagascar is believed to have been virgin territory that was
initially inhabited by only a small number of people. By the
early 1400's, inhabitants from lands surrounding the Indian
Ocean, such as Malaysia, Java, and Africa had settled in Madagascar.
During the 1500's Madagascar was a prominent station in the
development of trade routes between Europe and the Far East.
By the late 1600's pirates ruled the waters surrounding the
island. All of these historical events have lead to the assembly
of a culturally rich and diverse Malagasy nation.
Language:
The first language of Madagascar is Malagasy while the official
business language is French. Some English is spoken in Madagascar
but is mostly limited to the capital city of Antananarivo and
major resort areas. Due to a large early Arabic influence, the
many dialects spoken within this island nation have a distinctive
Arabic flavor.
How
does the political environment of Madagascar factor into PROM's
production? Madagascar, a Democratic Republic, has
created an atmosphere, through economic reforms and racial harmony,
which is favorable to the foreign investor. The Malagasy government
is determined to increase foreign investment and has given PROM
a strong sense of support. PROM is a welcome addition to the
economy of the island Republic, because PROM provides employment,
aids economic development, and maintains sensitivity to the
Malagasy culture and environment.
What
is the current economic condition of Madagascar? Madagascar,
classified as a Third World Nation, suffers from insufficient
health and educational facilities and a substantial portion
of the population suffer from malnutrition. Agriculture, forestry
and fishing are the staples of the Malagasy economy, accounting
for 35% GDP and 70% of export earnings; but a 3% annual population
increase, over-foresting, and a considerable level of land erosion
is taking its toll on economic conditions.
Recent
PRMO News:
August
23
- Prom Resources, Inc. Recent Information Recap
Prom
Resources, Inc. (OTC: PRMO) would like to recap the information
that it has recently disseminated. The company is pleased to
have added Mr. Gino Rasamison as Chief Mining Engineer and Mr.
Manantsoa Ravony as the Company's Chief Geologist. The past
assay results from grab samples from the Company's perimeters
that have been sent to a recognized refinery are as follows:
Wgt.
In (gms) Used (gms) wgt. Ret (gms) % Au (%)
------------ ------------ ------------- -----------
8.93
0.04
8.53 91.30
The
company has moved to a new location in Madagascar (Lot logement
06 batiment 6 cite Ambanidia Antananarivo 101, Madagascar).
The
company's perimeter portfolio is as follows:
--
64 Corundum perimeters in the Toliara province in the area of
Ilaka- Sakaraha. -- 48 Gold /Ore Perimeters in the Toliara province
in the area Ankavandra -- 80 Gold /Ore Perimeters in the Antananarivo
province in the area of Ambohilovolovo
Further
the company has prepared further shipments of gold-bearing material
for grading and processing.
"The
company reminds the investing public and other interested parties
that it is prudent to read all of the official news releases
issued by the company, information made available on the Prom
Resources, Inc. website www.promresources.com, periodic filings
and other disclosure made to the Pinksheets Electronic OTC Markets
website www.pinksheets.com," said Dror Moradov, President
and Director. "The Company does not validate any other
forms of communication."
About
Prom Resources, Inc.
Prom
Resources, Inc. is currently engaged in the active exploration
and extraction of gold ore and corundum material at different
mining and exploration perimeters in the Republic of Madagascar.
For further information please visit our website at www.promresources.com
or email us at
This email address is being protected from spam bots, you need Javascript enabled to view it
August
22
- Prom Resources, Inc. New Location in Antananarivo
Prom
Resources, Inc. (OTC: PRMO) is pleased to announce its office
located in the Capital Antananarivo at Lot logement 06 batiment
6 cite Ambanidia Antananarivo 101, Madagascar.
Due to the
company's increase in operations this new location allows management
to have efficient access to mine site locations and will facilitate
resourceful and rapid transfer of mine site shipments overseas.
Madagascar
is considered to be the world's major source of sapphire and
it is estimated that more than 50% of the world's supply is
mined there. In addition to this it had a steady gold production
industry at the beginning of the 20th century during the French
colonial era but remained mostly unexploited by big scale mechanical
mining. It resembles the richness of South Africa 200 years
ago before the major mines were opened. BRGM, the French government
mining arm, published some of its findings which were used as
the basis of the new research being done today.
"Our
company has been operating in Madagascar for 10 years now and
continues to be amazed by the continuing potential and possibilities
of this true Treasure Island," said Dror Moradov, President
of Prom Resources, Inc. Mr. Moradov continues by saying, "Having
an office located in the Capital Antananarivo gives us both
prominence and the ability to effectively manage our shipping
of resources overseas for further processing."
About
Prom Resources, Inc.
Prom Resources,
Inc. is currently engaged in the active exploration and extraction
of gold ore and corundum material at different mining and exploration
perimeters in the Republic of Madagascar. For further information
please visit our website at www.promresources.com or email us
at
This email address is being protected from spam bots, you need Javascript enabled to view it
August
14
- Prom Resources, Inc. Appoints Chief Geologist
Prom Resources,
Inc. (OTC: PRMO) ("the Company") is pleased to announce
that a new geologist, Mr. RAVONY Manantsoa, has been retained
to evaluate its 192 perimeters in the Toliara and Antananarivo
provinces of Madagascar. This past January, Prom Resources issued
news of securing perimeters when the company determined they
yielded up to an excess of one ounce per ton of gold. Licenses
for extraction were also acquired at that time for the original
perimeters at which point the company also shipped gold bearing
material for grading and processing.
Mr. RAVONY
Manantsoa has joined the Prom Resources team as the senior geologist
to evaluate its 192 perimeters, but mostly to determine the
potential of further perimeters the company wishes to acquire.
"We
intend to increase our asset base and widen it into other substances
and for that we are assembling a dynamic team," said Mr.
Dror Moradov, President and CEO of the company.
August
3 - Prom Resources Acquires an Additional 16 Gold Perimeters
to Its Toliara Concession
Prom
Resources, Inc. (OTC: PRMO) is pleased to announce that it has
secured additional 16 perimeters in the Toliara province of
Madagascar. These perimeters are adjacent to the perimeters
already secured in January 2007 in the Toliara province and
having similar mineralization.
"We
are constantly expanding our asset base," said Dror Moradov,
President of Prom Resources, Inc. "We expect other assets
to be added in the near future to support our long term supply."
|
Country
and Sector Background
Although
governance problems have characterized Madagascar's mining sector
for years, recent reform and anti-corruption measures taken
by the Government have slowed illegal activities and laid the
groundwork for a positive environment to exist in the mining
industry for many years to come.