Global Finishing, Inc.
COMPANY DATA | INTRODUCTION
| PROJECT IN HAND | MANAGEMENT
NEWS UPDATE | CHINESE
| Address: | 240 - 455, du Marais Quebec, Quebec Canada G1M 3A2 |
| Tel No.: | (418) 527-3362 |
| Fax No.: | (418) 527-3870 |
| Web Site: | www.globalfinishinginc.com |
| Corporate Email: | gfml@email.com |
| Contact Person: | Richard Diotte |
| Position: | President |
| Traded Market: | Frankfurt |
| Traded Symbol: | G8BA |
| Outstanding Shares: | 10,261,244 |
| Public Float: | 2,300,000 |
| 52 Week High: | $ 1.00 Euro |
| 52 Week Low: | $ 0.15 Euro |
| Present Price: | Click Here |
INTRODUCTION
Global Finishing, Inc. is involved in mineral and mining development. The objective of the Company is to become a respected leader in the mining and resource sector.
The Company has embarked on a business strategy whereby it will acquire, invest and manage pre-production mining properties located in NAFTA countries. The Company will concentrate its effort on advanced precious metal properties qualified by a NI 43-101 report of a pre-feasibility study.
Global Finishing, Inc. will select a maximum of four projects ready for immediate production. These projects will be selected on the basis of being profitable within the first 12 months of operation while the payback has to be 24 months or less. Each project has to offer a possibility to expand the known resources by reinvesting part of the profit in exploration.
The Company has gathered a very senior team of professionals from the mining industry. The team will advise Global Finishing, Inc. on properties evaluation, mining methodology, project management, production and exploration.
Several projects have been identified for acquisition, negotiation and due diligence are currently under going. Two of the projects are located in the province of Quebec.
PROJECT IN HAND
(1) The first property:
Ruby Mine, California
The first property acquired is the Ruby Mine. The Ruby Mine is located near the California-Nevada border in eastern Mono County, California, about 150 miles southeast of Reno, Nevada and in the vicinity of Fish Lake Valley.
The property encompasses the workings of the Green Monster Mine, which has a history of small, but high-grade production from carbonate replacement deposits. Between 1938 and 1953, the mine produced 781 tons yielding 40,329 oz silver (Ag), 6,916 lbs. copper (Cu), 46,767 lbs. lead (Pb), and 5,775 lbs. zinc (Zn). (Source: U.S. Bureau of Mines)
The U.S. Bureau of Mines also investigated the Ruby mine during 1983, in depth, and established the presence of commercial ore remaining in the mine. This report was made prior a recent discovery of a major fault, which is believed to be the feeder zone of the Green Monster Mine. Previous mining yielded results from 36 to 1,465 ounces of Ag per ton of ore and 0.1 to 0.224 oz of Au per ton of ore.
There are other mining claims and mining operations in the general area surrounding the Ruby Mine. Larger open pit mines are also in the area, such as the Candelaria mine located to the north. The area has a history of mining and mine production that is recorded in the U.S. Bureau of Mines production records of the White Mountains RARE 11 area.
Highlight:
Contains an un-mined indicated resource totalling 1,650 tons grading 28.0 opt silver, 0.70% copper, 1.0% lead, and 4.0% zinc. There is an additional inferred resources of 1,100 tons grading 17.0 opt silver, 0.70% copper, 0.73% lead and 4.0% zinc. (Source: U.S. Bureau of Mines)
Exploration Results to Date:
Two selective check samples collected from the mine during the current work program averaged 0.025 opt gold, 241.6 opt silver, 0.47% copper, 2.26% lead, and 0.51% zinc.
Pre Production Plan:
Global Finishing, Inc. will rehabilitate the mine workings, and set up underground drill stations in order to both upgrade and expand the resource.
Planned Production Start Date: Fall of 2007.
(2) The second property:
Joe Mann Property, Quebec, Canada
On October 30, 2007 G8BA has acquired 50% interest in the Joe Mann property from Gold Bullion Development Corp. The mine is located 64 km south of Chibougamau in the province of Quebec, Canada. Since 1956 the Joe Mann Gold Mine has produced 1,253,869 ounces of gold. On September 01, 2007 the production was suspended and will resume by the end of January 2008.
With the actual proven reserve, qualified by a 43-101 the mine has a 5 years life at a cutoff grade of 0.26 ounces to the ton. Re calculation of the resources will be done at a cutoff grade of 0.125 ounce to the ton and at such grade the mine will still be profitable and benefit from an extended life.
A drilling program was started last October with the objective of proving 1,000,000 ounces below the actual workings.
MANAGEMENT
Global Finishing, Inc. has a well management team with experience in different areas.
Richard Diotte, President, Chairman and CEO
Mr. Diotte graduated from University of Laval with B.A. in Economics in 1980. He started a career in the securities industry and spent 15 years at successfully managing portfolios. He has also earned his Fellowship of the Canadian Securities Industry.
In September 1995 started his own advisory firm, Alliance Strategic (ASP) Inc. Since then Mr. Diotte has been involved with public companies needing to refocus the business agenda, structuring and deploying financing and communication campaigns. Mr. Diotte is responsible for the financing of the Company as well as refocusing the corporate activities of the Company.
Alain Zubrzycki, M.Sc.
Mr. Zubrzycki graduated in geophysics from the University of Western Ontario in 1987 and he obtained a Masters in Economics of Natural Resources from the University of Quebec in Montreal in 1993. Mr. Zubrzycki has been working in the mining and environmental sector for over 15 years.
Mr. Zubrzycki is responsible for running due diligence on the targeted acquisitions as well as structuring mining operations for the properties Global Finishing, Inc. will bring into production.
Louis Veilleux, General Manger of Operations
Mr. Veilleux will assume responsibility for managing the production start-up of the mines to be acquired by the Company. Mr. Veilleux brings more than 25 years of management experience, much of it acquired as a project manager in the mining sector and chemical industry. He has managed various exploration programs worth over $10 million for mining companies.
NEWS UPDATE
On November 29, 2007, Global Finishing, Inc. announced the preliminary results of the first hole drilled below the 1,150 m level of the Joe Mann Mine.
The first hole drilled (EE-188) intersected 2 zones: the principal vein and the south zone. The principal vein was intersected at 174.9 metres vertical depth below the 1,150-metre mine level with a core length of 2.1 metres (from 302.1 m to 304.2 m) and assayed 43.4 g/t gold, 1.96% copper, and 15.8 g/t silver. The gold assays were verified with a grade of 45.2 g/t. The second intersection (interpreted as the south zone) gave a core length of 0.3 m (from 437.7 m to 438.0 m) and assayed 23.3 g/t gold, 0.30% copper, and 13.3 g/t silver.
On October 30, 2007, Global Finishing Inc. announced that it has entered into a working agreement with Gold Bullion Development Corp. (TSX-V:GBB) regarding the Joe Mann Gold Mine located some 64 km south of the town of Chibougamau, Quebec.
The working agreement will enable Gold Bullion Development and Global Finishing to become equal partners splitting and sharing costs and profits on a 50/50 percentage basis on milling, mining and support services prorated after payment from production.
This working agreement is designed to accelerate the capital expenditure program at the Joe Mann Gold Mine. Gold Bullion has already started an initial phase of drilling on October 12, 2007 which will evaluate the extension of the known mineralized structure at depth. A reevaluation of the mining method and a recalculation of the mineral resources of the Joe Mann Mine will begin the week after. During the second week of November, a date will be set to call back employees at work to restart the mining and million of ore.
Since 1956, the Joe Mann Gold Mine has produced 1,253,869 ounces of gold.
On October 16, 2007, Global Finishing, Inc. reported that Global has recently completed the second geological examination of its high grade silver property - the Ruby Mine in California. This was carried out by Steve Russell, geologist of Virginia City, Nevada.
During the most recent visit (Oct/07), underground geological examination and sampling with assays including 98.9 oz/t silver, 0.166 oz/t gold, 0.197% copper, 20% lead and 12% zinc. At current metal prices, these values constitute a gross value of $2,512/t. Of the nine samples taken on the most recent visit by the geologist, six of these nine samples contained very strong metal concentrations.
Assays from shallow underground sampling from the first visit assayed 414 oz/t silver, 0.03 oz/t gold, 3.31% lead, 0.89% copper and 0.94% zinc.
Mr. Russell recommended carrying out a drilling program in order to evaluate the ore body extension along strike in a southwest direction. This drilling program will also investigate a major fault zone which appears to be the main feeder zone of the mineralized structure.
On September 12, 2007, Global Finishing Inc. reported the hiring of Mr. Stephen Russell, Geologist of Virginia City, Nevada. Mr. Russell and his team will begin immediately an underground work program at the Ruby Mine in California.
Part of the work program will be to perform a detailed mapping and sampling within the mine workings with an emphasis on outlining and quantifying the resources in place.
The work program is also aiming at defining targets for an underground drilling program.
Mr. Russell's team will also sample a recently discovered major fault, close to the Ruby Mine, which is considered to be the feeder zone for the Ruby.
On April 26, 2007, Global Finishing, Inc. announced the acquisition of the Ruby Mine, a high-grade, near surface silver property, located near California-Nevada boarder in eastern Mono County, California.
The property encompasses the workings of the Green Monster Mine, which has a history of small, but high-grade production from carbonate replacement deposits. Between 1938 and 1953, the mine produced 781 tons yielding 40,329 oz silver (Ag), 6,916 lbs. copper (Cu), 46,767 lbs. lead (Pb), and 5,775 lbs. zinc (Zn). (Source: U.S. Bureau of Mines).
On March 9, 2007, Global Finishing, Inc. announced the appointment of Mr. Richard Diotte as new Chairman and CEO of the Company. This nomination follows the resignation of Ms. Karine Desjardins as an officer and member of the Board of Directors. Mr. Diotte will be responsible for the financing of the Company as well as refocusing the corporate activities of the Company.
On March 6, 2007, Global Finishing, Inc. announced that effective from March 7, 2007, Global Finishing will change its OTCPK stock ticker symbol to GFML from GBFH.