AER Energy Subsidiary Global Wealth Group Signs MOU To JV With Peruvian Gold Mine And Will Finance Retail "Raw" Gold Sales
SCOTTSDALE, Ariz., May 31, 2012 /PRNewswire/ -- AER Energy Resources, Inc. (PINKSHEETS: AERN) announced today that its subsidiary Global Wealth Group, Inc.(GWG) has signed an MOU with Avenill Ventures, LLC (AVL) with Gold operations in Lima, Peru.
GWG has agreed in principal, pending final due-diligence and approval from AERN's board, to fund the initial and expected rapid growth rate of AVL's new "Retail" raw gold sales. Previously AVL has been selling gold to refiners in Lima, Peru and Los Angeles, CA. Raw gold prices are often 5-7% below Spot prices in this wholesale market but with this new 50/50 JV between the parties; AVL will now be able to sell larger quantities and receive 10-15% above daily Spot gold pricing. That represents on average approximately 20% higher margins for the sale of raw gold extracted from the mines in Peru. With gold priced at $1565/oz. the new raw gold retail sales JV will amount to an improvement of over $300(US) per oz.
Stanley F. Wilson, AER Energy Resources, Inc., President stated, "It is encouraging to see that our GWG subsidiary has accomplished this new commodities JV with a quality Gold brokerage company. We remain committed to execute our O&G business plan and expect 100BOPD by the end of Q2, 2013. This additional revenue stream from GWG will significantly assist in accomplishing those goals."
The JV expects to sell approximately 70 oz of raw gold monthly or an annual increase in gold revenues of an additional $250,000. Gross sales are expected to exceed $1,400,000 with improving Spot gold pricing over the next 12 months.
ABOUT AER ENERGY RESOURCES, INC.
AER Energy Resources, Inc. (www.aernenergy.com) is a diversified holding company with an emphasis on oil and gas exploration, drilling, well completion and fuel distribution as well as rare earth commodities sales.
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words or phrases "would be," "would allow," "intends to", "will likely result," "are expected to," "will continue," "anticipate," "expect," "estimate," "project," "indicate," "could," "potentially," "should," "believe," "considers," or similar expressions are intended to identify "forward-looking statements." Actual results could differ materially from those projected in the forward-looking statements as a result of a number of risks and uncertainties. These include the company's historic lack of profitability, end user customer acceptance and actual demand, which may differ significantly from expectations, the need for the company to manage its growth, the need to raise funds for operations and other risks within the regulation of the industry. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. The Company's past performance is not necessarily indicative of its future performance. The Company does not undertake, and the Company specifically disclaims any obligation, to update any forward-looking statements to reflect occurrences, developments, events or circumstances after the date of such statement.
For Further Information Contact:
AER Energy Resources, Inc.
SOURCE AER Energy Resources, Inc.Back to top