For Immediate Release
Success & Growth Continues ~ Estimated Gross Value > $50.0 Million USD, Lifts First 1.5 Tons (1,500 Kg) of Gold Dore Bars of 96.99% Purity +/- 2% Deviation to Dubai Year End 2015, Initial DMCC Registration and Licensure Approval AU MIN AFRICA Declares!
Port Elizabeth, South Africa, December 8, 2015 (SIMPLEPR) — AU MIN AFRICA (OTC-Market: Stock Symbol: GRYEF) the SOLID GOLD-DIAMOND INVESTMENT OF THE FUTURE declares the initial and conditional approval of the Registration and Commodities Licensure with the DMCC FZE, Dubai, United Arab Emirates. The success and growth of our business starts in Dubai, UAE and beyond to being a part of the ultimate business hub in this largest, fastest and best free zone in the world! GRYEF was approved to its unique strategic Gold-Diamond-Gems Commodities Global Trading and Distributorship after receiving its initial conditional Company Registration and Commodities Trading Licensure approval with the DMCC FZE (Dubai-Multi Commodities Centre) under the name AUMINAFRICA GREENGOLD DMCC. The DMCC FZE, DUBAI, UAE is The Best Free Zone Center in the World for SMEs (Small to Medium Enterprises)! As a DMCC registered and licensed company AU MIN AFRICA benefits from the innovative global commodities [GOLD-DIAMOND-GEMS] UAE Exchanges, trade finances solutions, flexible real estates, legal and regulatory frameworks which allows AU MIN AFRICA to focus on conducting with its specific business activities, enhances its stronger “Strategic Partnerships/Joint Ventures” Alliances with the already established long term major and preferred commodities Buyers and Suppliers, whereby AU MIN AFRICA then becomes the Direct Gold-Diamond Commodities Clearing House Wholesale Distributor of Record and Authorized Reseller on behalf of AU MIN AFRICA’s gold-diamond suppliers and producers.
ACCOUNTING DIVISION UPDATE: CURRENT SIGN to YIELD SIGN:
On the face of it all, the slightly seemingly baffling past silence and void results were still well and within the guidance of our persevering directors and managements. We understood all our shareholders’ concern and the lack of current News as promised previously. No News does not mean anything negative but management is continuously perfecting and working so hard to enhancing the “equity value” of all its shareholders. The failure to post the past 2nd (Q2) Quarter Financial 2015 Report 2015 ending August 31, 2015 on time had caused the removal of the Current Sign for the Yield Sign to appear as a result of this late posting of 2015 Q2 Financial Report.
Furthermore, the fact that Management had been extremely busy to overcoming the numerous challenges encountered in lifting the first 1.5 tons of Gold, in flux so to speak, and in between interviewing several accounting-consulting firms to serve as “One Stop Accounting Service Company” who will do the critical job for our GRYEF – AU MIN AFRICA in order to be fully USA SEC and OTC compliant.
Management is engaging the services of a USA based company from Los Angeles, California during the 4th Quarter, 2015 for long term services tasked in the “Accounting-Bookkeeping-SEC and OTC Compliance Filings” department for GRYEF, included but not limited to the Filings of GRYEF’s (Form 10Q) Quarterly and (Form 10K) Annual Financial Reports plus the posting via Edgar Filings of GRYEF’s Form 10 SEC Registration.
Furthermore, the OTC Compliance had been notified and had been made aware of such delay due to our transition in the hiring of a USA Based Independent Consulting Firm working with the Accounting Division for GRYEF AU MIN AFRICA. This Independent Company is tasked to do the following: 1). Prepare the GRYEF accounting and tax • 2). Management consulting on market growth strategy, market intelligence, and business plans; • 3). Preparing consolidated financial statements; • 4). Preparing audit work for outside auditors and liaison with auditors, attorneys (USA GAAP and PCAOB approved) • 5). Preparing SEC filings (8-Ks, 10-Qs, 10-Ks, Form 10 Registration, etc.); • 6). Financial projections and other business modeling; • 7). Preparation of tax returns • 8) Compiling and preparing financial statements, MD&A, and footnotes for the 2015 Fiscal year ending February 28, 2016, the 1st Quarter Ending May 31, 2015, the 2nd Quarter Ended August 31, 2015, and 3rd Quarter Ended November 30, 2015. By delegating this task to a USA-Based Company to perform the required accounting responsibilities this will alleviate the burden on the part of management in order to comply with the USA SEC requirements as a Foreign Corporation publicly traded in the USA, as well as any other projects as requested by us. Management has been working with the Accounting and Legal team and are moving forward as planned. The “Accounting Division” understood the intricacies involved, which are extremely tremendous and tedious tasks, that we hope and pray that come 2016 all the GRYEF Financials will be accurately and efficiently compiled, compliant and filed in accordance with the USA GAAP by a PCAOB Approved and Certified Accounting Firm as per strict requirement of the SEC Compliance, thereby [GRYEF] AU MIN AFRICA fulfills its mandatory fiduciary obligations to all its shareholders.
GOLD TRADING DIVISION UPDATE: 1.5 TONS AND MORE OF GOLD DORE BARS
Certainly, the company missed the filings and yet our projections for revenue forecasts were still within and even expected to be more than the estimated and yet is still predicting over $170.0 Million gold sales for Fiscal year 2015 ending February 28, 2016. The lifting of the first 1.5 Tons (1,500Kg) of Gold Dore bars of 96.99% Purity from Africa to Dubai, UAE as previously announced are currently still within the pipeline. The GRYEF’s Trading Division had encountered several challenges yet are nearing to overcome after the numerous twists and turns encountered along the windy road to succeeding as the result of “Beyond the Control of the company that include lawful order of Government Rules or of Banking Authority, Act of War, Rebellion or Sabotage, Fire, Flood, Earthquake or other natural disasters plus any other cause not within the control of AU MIN AFRICA and the Management or which is by exercise of reasonable diligence, may seem and are unable to foresee in advance and yet are working diligently in the resolution of the “snag” soon to be resolved and hoping Great News to come out on before December 31, 2015.
Part of the problem is not with the GRYEF’s management but it has to do with factors and unavoidable circumstances that is beyond the management control. GRYEF had been exceeding its expectations for several months, an expectation that it will overcome all these road blocks and soon will be baked into the share price of GRYEF. We suggest our GRYEF shareholders to increase our patience and understanding towards the GRYEF management who are constantly beating to become successful against all odds!
While there is good news coming, GRYEF will soon be successful at getting the high end of the market, and furthermore to get the safe and legal way to lift the first and initial 1,500Kg (1.5 Tons) Gold Bars logistically to enter into the Dubai FZE (Free Zone Emirates). These Gold Commodities which were already committed and ready for distribution to its 6 Committed and Preferred Major Gold Buyers around the world shall generate an estimated Gross Revenue in excess of Fifty Million ($50,000,000.00 USD) just for these first gold sale commodities alone that does not even account for the diamond commodities’ estimated revenues, yet TBD and projected to be generated for this coming year 2016.
ABOUT AU MIN AFRICA http://www.auminerals.biz
AU MIN AFRICA headquartered in Port Elizabeth, RSA – Republic of South Africa is a diversified gold-diamond mining company whose primary business enterprise is “Precious Metals (Gold, Silver, Diamond) and Minerals” from the world’s renowned mineral-rich continent of Africa and is focused mainly in the Gold-Diamond-Gems’ Supplying, Reselling and Distribution including but not limited to other commodities such as silver, platinum, palladium, copper, precious metals and precious gems such as amethyst, diamond, emerald, etc.! AU MIN AFRICA is committed to the implementation of sustainable livelihood for the African Citizens, safe-to-the-environment mining technology in the productions of commodities and productions of the most sought after gold and diamond commodities representing profitable endeavors, thereby enhancing its Shareholders’ Equity Capital Value and achieving fiscal strength based on the principle of PROFIT-PEOPLE-PLANET. Management continues to focus on achieving increased PROFIT, while conducting business with utmost consideration and compassion for the PEOPLE and the protection of our PLANET and the Environment.
FORWARD-LOOKING STATEMENTS: Forward-looking statements involve known and unknown risks, uncertainties, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements in this release include statements regarding gold, diamond, gems, minerals production in future periods and factors that could cause actual results to differ materially from anticipated results. These include risks and uncertainties such as: risks relating to estimates of explorations of gold minerals reserves, mineral deposits and production costs, mining and development risks, the risk of commodity price fluctuations, political and regulatory risks, and risks of obtaining required operating permits and other risks and uncertainties. These stocks are very highly speculative and may be unsuitable for all but very aggressive investors. AU MIN AFRICA disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
SOURCE: AU MIN AFRICA
CONTACT: Njabulo – IR
[t] + 971 52 286 7963
[t] 1(888) 785.1113 – Toll Free