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ReoStar Energy Corporation (OTC: REOS) has announced its acquisition of a stake in Leuffer Mining Group, a Mexican mining company specializing in iron ore production. Leuffer has a strong export history, having shipped over 1.5 million metric tons of iron ore to major markets including China and the USA from its operational leases in Sonora, Michoacan, and Jalisco. The new partnership aims to enhance ReoStar's position in the global market, targeting a production increase of 50% annually starting in 2024. Additionally, Goldman Sachs has raised its iron ore price forecast by 20% due to anticipated supply shortages, indicating a positive market outlook for iron ore prices.
ReoStar Energy Corporation (OTC: REOS) has released its first corporate update of 2023, focusing on key developments and strategies. The company is in the process of repricing its Reg. A offering, expected to complete in Q1 2023. Additionally, ReoStar is finalizing a strategic alliance with Larry Myers & Associates, a commercial printing firm with contracts worth several million dollars, and had over $5 million in annual revenue in 2022. Furthermore, ReoStar is exploring energy sector ventures and discussions with an operating and profitable Iron Ore Mine company. The firm aims to become a Net Zero Carbon Neutral Energy Company by 2050.
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