STEUBENVILLE, OH / ACCESSWIRE / September 22, 2023 / Osceola Gold, a leading Junior mine in the mining industry, is pleased to announce the successful acquisition of $2 million in non-dilutive private placement funding, accelerating production and ensuring profitability. This significant investment marks a major milestone in the journey towards operational excellence.
"Thanks to this capital infusion, Osceola Gold has swiftly initiated its mission to establish and streamline mining operations. The funding has enabled us to procure vital equipment, meet payroll obligations, and secure resources to sustain operations throughout the challenging winter season. We are proud to report that operations have already commenced, with a dedicated staff of 10 on-site workers operating for a full 10-hour day." Stated Tracy Pizzoferrato, Interim CEO.
In collaboration with our private placement partners includes a mutually beneficial profit-sharing arrangement, with Osceola Gold set to receive 35% of the generated profits. This strategic partnership not only enhances the production capabilities but also strengthens the team's commitment to excellence.
Osceola Gold's dedication is evident in its recent performance metrics. Based on independent study reports and the volume of dirt processed thus far, the mine is projecting a production rate of 100-125 tons per hour. Tracy continued: "This impressive output is estimated to yield half a gram to a gram of gold per ton of dirt on average, resulting in an estimated production rate of 2 to 4 ounces of gold per hour, or a yield of 20-30 ounces per day."
"Furthermore, we are thrilled to announce that full operations commenced on September 19th, 2023. For those who may have missed the live event, a live stream of our operations can be viewed on our company's Twitter page, @osceolagold. We extend an invitation to our shareholders to view the footage and witness the progress firsthand.", concluded Mrs. Pizzoferrato.
The company's operational success has surpassed corporate objectives, and Management highly anticipates achieving Pink Current status with OTC markets in the near future. As part of the Company's commitment to transparency, all financials have been updated to ensure full compliance.
Osceola Gold is a leading Junior mine in the mining industry, dedicated to achieving operational excellence and profitability. With a commitment to transparency and a strong focus on efficiency, Managements aim is to deliver exceptional results and value to our stakeholders.
SOURCE: Osceola Gold, Inc.