TURBO, ANTIOQUIA, Colombia, Jan. 11, 2018 (GLOBE NEWSWIRE) — Genesis Electronics Group, Inc. (aka Cacique Mining) (OTC-Pink:GEGI) announces has begun initial negotiations with AngloGold Ashanti for one specific mining title in Colombia. The business model of Genesis Electronics Group, Inc., sister company of Inca Worldwide (aka QED-Connect) (OTC-Pink:QEDN), looks for specific projects that have all geological preliminaries concluded and are ready to start production within the following six to 12 months.
The concession contract (# FAF-14C) from Anglo Gold Ashanti (with an area of 1,424,542 hectares, signed on June 29, 2007, and located in Las Vega and Almaguer Cauca) is of special interest for Cacique Mining. This mining area dates back to the Spanish conquistadors of 1551, when the town of Almaguer was founded by Alfono De Fuenmayor only 49 years after Christopher Columbus reached Panama on his fourth voyage looking for the mystical city of El Dorado. https://en.wikipedia.org/wiki/Christopher_Columbus#Fourth_voyage
The area was mined for several centuries, but the superstition of the local miners, associated with the earthquakes of 1740 and 1765, closed the mines. Just before they closed, one of the mines in the area had over 2,000 Indians and Africans extracting over 30,000 pesos of gold monthly. Each peso, or real (R.1), had 3.383 grams of gold, for a total monthly production of 101.49 kilos of gold—equivalent to $4,284,389.20 USD per month in 1765.
Security in these areas has, of course, been an issue for decades, but with the work of GMS (Green Mine Solutions SAS) and the substitution contracts (currently with more than 366 coca leaves farmers in Cauca, which is expected to be expanded to over 3,000 farmers) offers us the possibility to work in the area hand in hand with the farmers, providing security for both the mining and agriculture projects.
AngloGold Ashanti is the third largest producer of gold in the world, and they are the largest holder of mining titles in Colombia with properties such as La Colosa, which has more than 29 million ounces of gold, making it one of the top 11 largest mining projects in the world. However, because of security concerns and without the ability to work with the agriculture communities doing crop substitution, AngloGold Ashanti has not been able to obtain the environmental permits required to start the project.
John Alan Naisbitt, now board member of Cacique Mining, also had the same problem at the Gramalote project. During his work as general manager of Gramalote, he contacted Cacique Mining’s Kate Bahnsen to begin planting Sacha Inchi around the areas of Gramalote. But before the planting even had a chance to begin, Mr. Naisbitt left the project. Gramalote is now a joint venture between AngloGold Ashanti and B2Gold. This project has more than six million tons of gold, but still has not been able to obtain the environmental licenses needed. http://www.b2gold.com/projects/development/gramalote/
Based on stories like these, Ms. Bahnsen highlights the real value of Cacique Mining’s two-pronged thrust with Inca Worldwide by stating, “Our goal is to work with the communities first, providing jobs in crop substitution, while we look for potential mining titles. After we locate them and finish our due diligence, we contact the holders of the titles. Having the communities happy and on our side is a key factor in obtaining the environmental licenses necessary in Colombia. And major mining companies in Colombia are beginning to recognize the value we bring.”
Contact information: firstname.lastname@example.org
About Cacique Mining
The Gomez Plata project is a gallery project. Cacique Mining Inc. and Green Mine Solutions have entered into an agreement with Inca Worldwide to grow Sacha Inchi on the land above the mine.
Caution Concerning Forward-Looking Statements:
Our public communications and SEC filings may contain “forward-looking statements” – that is, statements related to future, not past, events. In this context, forward-looking statements often address our expected future business and financial performance and financial condition, and often contain words such as “expect,” “anticipate,” “intend,” “plan,” “believe,” “seek,” “see,” “will,” “would,” or “target.”
Forward-looking statements by their nature address matters that are, to various degrees, uncertain, such as statements about our announced plan to reduce the size of our financial-services businesses, including expected cash and non-cash charges associated with this plan and earnings per share of QED retained businesses (Verticals); expected income; earnings per share; revenues; organic growth; growth and productivity associated with our Digital business; margins; cost structure; restructuring charges; acquisition-related synergies; cash flows; returns on capital and investment; capital expenditures, capital allocation or capital structure; and dividends.