this is good news for te shareholder that the management is not sitting idle and not jumping on the crypto blockchain mj bandwagon like so many companies out there. big volume today we can probably start seeing some sp movement going forward with this new project
sAfrican Queen forms U.S. subsidiary Desert Energy
2018-01-31 06:13 ET - News Release
Mr. Irwin Olian reports
AFRICAN QUEEN MINES EMBARKS ON DIVERSIFICATION PROGRAM WITH ESTABLISHMENT OF NEW U.S. OPERATIONS
African Queen Mines Ltd. has established a new wholly owned U.S. subsidiary named Desert Energy Corp. to engage in exploration and development of oil and gas and mineral properties in the Southwestern United States. Desert Energy, a Nevada corporation, will be operating as a separate division of the company under the control of the company's senior Vancouver management.
Desert Energy has been engaged in discussions and negotiations in respect of acquisition of certain U.S. resource properties which the company deems to be highly prospective for hydrocarbons and various minerals. The company expects to provide a further update shortly. The company views expansion into the United States as an opportunity to add value for the company's shareholders. At the same time, the company will continue forward with efforts to build and unlock value at its Yellowjacket gold project in Atlin, B.C.
According to Irwin Olian, chief executive officer of the company: "We are fortunate to have an outstanding technical team which has served us well over nearly 15 years going back to the days of our predecessor Pan African Mining Corp. In addition, we have a strong and supportive shareholder group which includes a number of sophisticated investors and industry professionals. The result is that we are exposed to a continuing stream of new project opportunities and have the personnel resources necessary to take on new projects. Having experienced considerable prior success with Pan African and its diversified portfolio of mineral properties, we have concluded that it is in the best interests of the company and its shareholders to now add the occasional, rare project opportunity which management believes to have the potential to dramatically raise the upside bar for the company. Accordingly, we are now moving forward to finalize acquisition of a handful of exciting new projects in the Southwestern U.S."
About African Queen Mines Ltd.
The company is an exploratory resource company engaged in exploration and development of mineral properties in Canada and Africa. It is presently focusing on development of its Yellowjacket gold project in Atlin, B.C., which covers an aggregate of approximately 291.54 square kilometres. The company has its executive offices in Vancouver, Canada. The company was incorporated under the laws of the Province of British Columbia, Canada, on April 30, 2008, and received certain southern African assets in a spinoff transaction related to the acquisition of Pan African Mining Corp. by Asia Thai Mining Co. Ltd.
We seek Safe Harbor.
© 2018 Canjex Publishing Ltd. All rights reserved.