Lindon, Nov. 11, 2014 (GLOBE NEWSWIRE) -- MineralRite Corporation(OTCPINK: RITE) ("RITE" or "the Company"), a development stage public company in the business of mineral processing,certification,streaming and sales of base and precious metals, today released a letter to its shareholders from its CEO, Guy Peckham.
Thus far, 2014 has seen many changes for MineralRite Corp, along with tremendous progress and new opportunities. RITE's corporate mandate has always been to identify and optimize opportunities in the small and junior sized mining industry, and we believe, with our focus on putting together workable joint ventures, that our vision is getting clearer.
As an update to our February press release, we have begun to ship equipment to GPX for their gold production project in Arizona two weeks ago and expect to complete the entire order in the next three weeks. The project was delayed until the beginning of October from GPX which caused our operating capital to get tied up in inventory.The estimated order upon completion will yield the company over $250,000.
Consequently, we have been exploring further joint venture opportunities throughout the western U.S and have identified many projects in various stages of development. As part of our strategy, we are offering strategic planning, consulting, marketing, equipment solutions,funding solutions, and other service agreements that we believe will enable these miners to explore how to better manage their operations, inventory, cash flow, and general infrastructure in the future, while allowing them to focus on their primary mission of producing precious metals. We have been negotiating agreements whereby mine owners and operators will provide an exclusive option to RITE to acquire a royalty stream or determined amount of precious metals for services in need.
RITE will structure its business such that we will plan to have various revenue streams from different areas and different minerals so that we are not exposed to one entity or product. We have entered into discussion with various funding sources and look forward to make announcements of these relationships once executed.
We expect to continue our plan of acquiring and leveraging assets in this fashion.
Our commitment to the industry will not be limited to asset purchase transactions and strategic planning contracts but will extend to possible creative funding sources of pre-sales of precious metals. We believe that in order to truly succeed in this market, RITE must develop funding solutions and processes, and it must possess and/or acquire world-class talent , and we expect to have news on these activities to report in the near future.
In order to fund these activities in the mining industry, we are actively negotiating to secure lines of credit and private investments, and will report the outcome of our efforts here as well.
This is an exciting time for RITE and its shareholders. We are feeling the tremendous momentum in the Junior mining space and are positioning the Company to capitalize on all segments of the market. I invite you to review our existing materials, press releases, and SEC filings, and encourage you to keep RITE on your radar, as we expect to have some exciting, material announcements in the very near future.
Thanks for taking a moment to read this letter, and thank you for being a part of RITE.
About MineralRite Corporation:
MineralRite Corporation is engaged in the processing, certification and sales metals including copper, gold, silver, and the platinum group metals. Using various proprietary and ecologically friendly processes and technologies, the Company extracts precious metals from mining operations ore, reclaimed mine tailings and high value concentrate material. Visit us at: http://www.mineralrite.com/
About Goldfield International:
Goldfield International machinery is professionally engineered and built to withstand years of the most rugged conditions and heavy use. All equipment is built in our Lindon, Utah plant -- from the engineering draft to final coat of paint. With a proven track record for efficient, quality machinery, fast response time and reasonable pricing, Goldfield International has supplied recovery equipment for a number of the largest placer mining projects in the world.
Media Services by: S.T.A.T. and Vitello Capital LTD
Safe Harbor Statement:
Under the Private Securities Litigation Reform Act of 1995: MineralRite Corporation encourages those interested in our Company to rely only on information included in our filings with the United States Securities and Exchange Commission which can be found at www.sec.gov. Statements released by MineralRite Corporation that are not purely historical are forward-looking within the meaning of the "Safe Harbor" provisions of the Private Securities Litigation Reform Act of 1995, including statements regarding the company's expectations, hopes, intentions, and strategies for the future. Investors are cautioned that forward-looking statements involve risk and uncertainties that may affect the company's business prospects and performance. The company's actual results could differ materially from those in such forward-looking statements. Risk factors include but are not limited to general economic, competitive, governmental, and technological factors as discussed in the company's filings with the SEC on Forms 10-K, 10-Q, and 8-K. The company does not undertake any responsibility to update the forward-looking statements contained in this release.
CONTACT: MineralRite Corporation 55 South Geneva Road Lindon, Utah Ph. 801-796-8944 Craig Fischer, S.T.A.T. Group Investor Relations 786.375.0556