PRECIOUS METALS EXTRACTION PROCESS

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With the Start of Their First Joint Venture Project in Nyarit, Mexico, Royal Mines and Minerals Corp. will be Able to Generate Revenues and Prove out Their Environmentally Friendly Lixiviation Process for Extracting Precious Metals



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Mining - Gold Ore and Silver Ore Mining
About:
Royal Mines and Minerals Corp. (RYMM-OTC: BB)
2580 Anthem Village Drive, Henderson, NV 89052
Phone: 702-588-5973

Company Profile:
http://www.royalmmc.com/

Royal Mines and Minerals Corp. is a minerals exploration company whose primary objectives are to 1) commercially extract and refine precious metals from their own and others mining assets, 2) joint venture, acquire and develop mining projects in North America, and 3) generate ongoing revenues from the licensing of their proprietary, environmentally-friendly lixiviation process.

Jason S. Mitchell

CFO and Director

Jason S. Mitchell has been with Royal Mines and Minerals Corp. (Royal Mines) for 4 years. He has been the Chief Financial Officer and Treasurer since February 1, 2008, and was appointed to the Board of Directors on May 28, 2008. Mr. Mitchell is a Certified Public Accountant and has his Masters in Accountancy from Southern Utah University. Before joining Royal Mines, he provided financial consulting and accounting services for numerous companies from 2005 through 2006. From October 1998 to October 2004, Mr. Mitchell was the corporate controller, principal accounting officer and manager of merger and acquisitions for USI Holdings Corporation (USIH), a NASDAQ listed insurance brokerage firm, where he oversaw all financial reporting responsibilities, prepared the annual and quarterly SEC filings and assisted USI in its October 2002 initial public offering.


Interview conducted by: Lynn Fosse, Senior Editor
CEOCFOinterviews.com, Published – February 11, 2011


Royal Mines and Minerals Corp. (RYMM-OTC: BB)
 

CEOCFO: Mr. Mitchell, what is the vision for Royal Mines and Minerals?

Mr. Mitchell: Our company started out as an exploration stage company in the mining sector. We started the company with 3,600 acres of mining claims just south or Searchlight, Nevada. We also have a lixiviation technology that we use to help extract precious metals from ore. We have expanded upon our early vision by looking at other joint venture projects within North America. By having a lixiviation process that we can extract precious minerals, we can offer small miners and mid-miners a solution for their mining their claims. If they don’t have a process that can extract their minerals, we can go in and form some sort of joint venture with them. So that’s kind of the direction that we’re heading for right now.

 

CEOCFO: Would you explain the lixiviation process?

Mr. Mitchell: Our lixiviation process is a chemical process. It is an environmentally friendly chemical called thiourea and our system is a zero liquid discharge system; so all of the liquid or chemicals stay within the system. In our extraction process, ore goes through the circuit and precious metals are leached out from that ore, and what’s left is what they call tailings. When the tailings come out of our system there generally is no hazardous chemicals left in the tailings and 90% or greater of the precious metals are extracted out.

 

CEOCFO: What is different about your process?

Mr. Mitchell: Our process is up to seventy times faster than the traditional mining method of cyanide. Also, it doesn’t have that cyanide label as a poisonous “harmful to the environment” chemical. Thiourea is environmentally friendly and it basically has no hazardous element to it. We do keep it enclosed within the system, so zero of it comes out. It offers a different solution to some of these small miners out there that are, especially in this day and age, looking for an environmentally friendly solution to move forward on their mining projects. It is very difficult to get permits and the go ahead on some of these mining sites if you’re not on the right side environmentally.

 

CEOCFO: How does the cost compare to more traditional methods?

Mr. Mitchell: We believe the costs are significantly less. We are still in the early stages and we are going to be going through our first full project here shortly. We actually have a Mexican project in the state of Nyarit, which is located inland between Mazatlan and Puerto Vallarta, and that is our first project. It is a 50/50 joint venture. We expect that project to accomplish two things: start cash flow for the company, and prove out our lixiviation processing technology.

 

CEOCFO: With two roads to choose from, exploration and joint venturing with your technology; what will the mix be going forward?

Mr. Mitchell: Our direction right now is to find good partners who want to joint venture on their mining projects and start cash flowing, with the ultimate goal of drilling out the property and producing a 43-101 report. Then we can actually put that drilled asset onto our books, increase our value and hopefully, entice a Freeport-McMoRan, Newmont or Barrack Gold size company to come in and actually take over that project. But we must prove it out first, and I believe we are positioned to move in that direction. The first one is always the most difficult and that is going to be our Mexican project. Our goal is to get it cash flow positive, produce from the mining site, and then bring in geologists and someone who can help us drill out the property. Then once we do that, book the asset and hopefully bring in someone like a Freeport-McMoRan to take over the project.

 

CEOCFO: What is your definition of a good project?

Mr. Mitchell: It has to be a significant ore body; a project with a high enough value per ton of gold and/or silver. We run concentrates through our lixiviation, our thiourea process, and typically, we need a value of around $8,000 or more per ton to make the numbers work.

 

CEOCFO: What’s the financial picture like for Royal Mines and Minerals today?

Mr. Mitchell: It is bright for a mining company. We struggled a little bit the last couple of years proving out our process getting a solid foundation under us and deciding on where we actually want to go with what we have. We are unique in that we have a processing plant and mining claims. Most small mining companies only have mining claims. We are unique that way, so I believe our financial future is bright because we are positioned to start cash flowing this company within thirty to sixty days. In addition, with value of precious metals today, with gold around $1,300 an ounce and silver at an all time high, we believe we’re definitely in the right industry.

 

CEOCFO: Are the investment community and the environmental community starting to pay attention; or is it still a bit early?

Mr. Mitchell: In the past we have had some issues, especially here in Nevada on the environmental side where they kind of frown upon the mining industry. Here in Nevada, we have had to deal with the Dessert Tortoise problem and getting the right permits and a plan of operations put through with the BLM. So it is harder around here, whereas down in Mexico we didn’t have to go over so many hurdles to get the operation up and started.

 

CEOCFO: Why should potential investors be looking at Royal Mines and Minerals today?

Mr. Mitchell: I believe our company right now is undervalued. We have struggled for the last two or three years finding our direction and that has hurt our stock. However, we now have some solid projects in place; number one is this Mexican project. Once we start producing on the Mexican project and generating consistent cash flow and management follows through on the objectives we have put forth for ourselves, our company will see that uptick in our stock price. We believe we are in the right sector and have the right people in place and the right team to move this company forward.

 

CEOCFO: Final thoughts, what should people remember most about Royal Mines and Minerals?

Mr. Mitchell: We believe we are at the tipping point, and it is really up to us now to prove to our shareholders, that have stuck with us, that this company can execute on a plan and create value for those shareholders.


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RYMM-Print Version


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We are still in the early stages and we are going to be going through our first full project here shortly. We actually have a Mexican project in the state of Nyarit, which is located inland between Mazatlan and Puerto Vallarta, and that is our first project. It is a 50/50 joint venture. We expect that project to accomplish two things: start cash flow for the company, and prove out our lixiviation processing technology. - Jason S. Mitchell

ceocfointerviews.com does not purchase or make
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