Gold Mining Company Buscar Provides 75 Day Update

Rhea-AI Summary

Buscar Company (OTC: CGLD) has reported significant milestones and future plans as of September 2, 2020. Key achievements include the acquisition of Gold Mining Operator Eon Discovery, completion of the Current Status as of August 5, and securing necessary funds for business execution. The Authorized Share count was reduced by 50% from 500M to 250M, with a commitment to maintain a float of 3.2M shares and no reverse split for 18 months. Upcoming commitments include initiating mining operations by August 15 and pulling ore for milling at 6-8 tons per day by late September.

Positive

• Acquisition of Gold Mining Operator Eon Discovery completed in July 2020.
• Secured funds to fully execute the business plan.
• Authorized Share count reduced by 50% from 500M to 250M shares.
• Committed to keeping the float at 3.2M shares.
• No reverse split planned for at least 18 months.
• Mining process committed to start by August 15, 2020.
• Mining and milling equipment components now in production.
• Ore extraction planned at 6-8 tons per day starting late September.

Negative

• None.

DENVER, Sept. 2, 2020 /PRNewswire/ -- Buscar Company (OTC: CGLD) has published today the milestones accomplished to date and the expected milestones to be met in the near future.

• The acquisition of Gold Mining Operator Eon Discovery was closed in July 2020.
• The company achieved Current Status on August 5, 2020.
• The company secured the funds necessary to fully execute the company's business plan.
• The company lowered the Authorized Share count by 50% from 500M shares to down to 250M.
• The company issued shares to all new officers and directors and locked those shares in place as restricted for two years minimum.
• The company committed to keeping the float at 3.2M shares.
• The company committed to no reverse split for at least 18 months, if ever.
• The company filed their Plan of Operations with the US Forest Service in a timely fashion.
• The company committed to starting the mining process on August 15, 2020 and the team arrived on site on time and got to work immediately.
• The company committed to cleaning out the Ada Drift tunnel in a timely fashion and the mining team is completing that work as we speak.
• The company committed to having their mining and milling equipment in place by September and the components are in production, in route or in the works.
• The company committed to pulling ore out of the mine for milling at 6-8 tons per day as part of the required assessment work and the company is confident this can begin late September, early October at the latest.

Notice Regarding Forward-Looking 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. Actual results could differ from those projected in any forward-looking statements due to numerous factors. 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 any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. https://www.buscarcompany.com/forward-looking-statements

Please refer to our Forum at https://www.buscarcompany.com/forum and the Company's Twitter page https://twitter.com/BuscarCompany for additional information and updates.


Contact:
+1-(661)-418-7842 
info@buscarcompany.com

 

View original content:http://www.prnewswire.com/news-releases/gold-mining-company-buscar-provides-75-day-update-301122631.html

SOURCE Buscar Company

FAQ

What milestones has Buscar Company (CGLD) achieved as of September 2, 2020?

Buscar Company has achieved key milestones including the acquisition of Eon Discovery, securing funds for its business plan, and starting mining operations.

What are the future plans for Buscar Company (CGLD) mining operations?

Buscar Company plans to start mining operations by August 15, 2020, and aims to pull out 6-8 tons of ore per day by late September.

How has Buscar Company (CGLD) altered its share structure recently?

The Authorized Share count was reduced from 500M to 250M shares, and the company committed to maintaining a float of 3.2M shares.

When did Buscar Company (CGLD) close the acquisition of Eon Discovery?

The acquisition of Eon Discovery was closed in July 2020.

What is the commitment regarding reverse stock splits by Buscar Company (CGLD)?

Buscar Company has committed to no reverse split for at least 18 months.