BEIJING, Oct. 27 /PRNewswire-FirstCall/ - Land Star Inc. (LDSR) www.landstarcorp.com further to the company's news release of Oct. 24 where amongst other things the issuer announced that it has scheduled a closing date for the merger completion of the Colorado mining project to be completed by the end of this week, the company is pleased to provide this further update.
In relation to this Colorado opportunity our geologist has been working through 7 different reports from 1930's that are extremely detailed. In addition there are 6 recent geological reports from the 1980's and hundreds of assay samples, to quantify the indicated reserves, the results of which should be completed shortly.
Under the current projections, processing 200 tons per day has the potential to produce revenues of around 80 million dollars per annum.
In other corporate updates, management representatives are still finalizing the details of the planned acquisition of Hubei Chuguan. Mr. Li the company CEO said, "We are working as quickly as we can through the mountain of paperwork and the needed translations, we anticipate that the Hubei Chuguan deal will be finalized shortly."
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