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Published in Stocks and Investing on Monday, January 12th 2009 at 8:52 GMT, Last Modified on 2009-01-12 08:53:07 by Market Wire
MILFORD, Utah--([ BUSINESS WIRE ])--Copper King Mining Corporation (Pink Sheets:[ CPRK ]), an ore mining, processing, and exploration company located in southern Utah, today provided updates concerning mill construction.
Unusual brutal winter weather with frigid southern Utah temperatures has caused delays in the company's mill completion construction schedule. Other unusual weather-related problems that were unexpected included the fact that the weather too cold to fuse weld HDPE water pipe, or receive high-pressure water to the well pumps in a timely manner. The company also received discharge ball mill trammels, metering valves, reagent metering pumps and tanks, certain bearings, pulleys and drive belts that, when delivered, were found to be incorrectly built and oversized. Recent warmer weather has greatly improved construction conditions.
Outside substation wiring has also been delayed because of harsh weather. The Toshiba computer control program and associated equipment are delivered and crews are working feverishly to install. The company believes that initial testing of the mill can begin by the end of January 2009, with most of the above-referenced problems corrected.
The company's crushing contractor, Quality Crushing, will begin crushing Hidden Treasure ore for mill feed on site at the mill on approximately January 25, 2009. Hidden Treasure ore crushing tests are under way at this time by Quality Crushing.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995
Statements in this press release relating to plans, strategies, economic performance and trends, projections of results of specific activities or investments, and other statements that are not descriptions of historical facts may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking information is inherently subject to risks and uncertainties, and actual results could differ materially from those currently anticipated due to a number of factors, which include, but are not limited to, risk factors inherent in doing business. Forward-looking statements may be identified by terms such as "may," "will," "should," "could," "expects," "plans," "intends," "anticipates," "believes," "estimates," "predicts," "forecasts," "potential," or "continue," or similar terms or the negative of these terms. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. The company has no obligation to update these forward-looking statements.
For more information, visit Copper King's website at [ http://www.copperkingmining.com ] or contact Gavin Wetzel at 801-333-8686.
