MONTREAL, April 17, 2008 (PRIME NEWSWIRE) -- East Delta Resources Corp. (OTCBB:EDLT) (Frankfurt:EJK) announced today that its majority owned subsidiary, Sino-Canadian Metals Inc. has completed construction of a metals processing plant that produces a nickel-copper aggregate from ore supplied by local mines.
The facility, owned by Sino-Canadian through its Joint Venture in China, is located in Qinghai Province and has been in development for over a year. The factory was designed and built to profit from the increasing shortage of base metals processing capacity in the region, and in China in general.
The plant is scheduled to operate 24 hours a day using three shifts with an expected capacity of 50 tonnes per day. The process mixes nickel-copper ore with several other raw materials, including coal, sulfur, iron, and limestone into its furnace and upon heating generates the primary product, an intermediate form of Ni-Cu, that is Ni-Cu aggregate or iced Ni-Cu. The waste matter from the furnace is also sold as strengthening material for cement. Additionally, the raw ore used in the process contains small amounts of gold, silver, palladium and cobalt, and as such, these metals will also be produced and sold.
Victor Sun, CEO of Sino-Canadian commented, "We are quite excited about this development, as it will be our first major source of immediate cash flow. The opportunity is excellent. And with nickel and copper prices rising dramatically in recent years and expected, as most experts forecast, to continue to stay at historically high levels, the potential from this undertaking is certainly not overstated."
The Company is now preparing to commence operations and has started training required staff and testing the facility. The launch and trial operations are scheduled for the end of April, 2008, with full production to follow within a month thereafter.
Mr. Sun added, and with caution, "It is worth it to note that, depending on yields and world metal prices, a small 50 tonne plant such as ours can generate annually up to $8,000,000 gross revenues. If successful, we definitely intend to multiply our capacity at this facility, possibly as much as tenfold, and also to replicate this type of facility throughout other parts of China."
The Companies
East Delta Resources Corp. is a publicly traded Delaware corporation, headquartered in Montreal, Quebec whose primary activity is in mine development and production of gold. Through its majority owned subsidiary, Sino Canadian Metals Inc., it also participates in other mineral exploration and mining, specifically, silver, nickel, zinc and lead.
Sino-Canadian Metals Inc. is a private Delaware corporation, headquartered in Montreal, Quebec and 63% owned by EDLT. It is the intent of Sino-Canadian Metals to become a publicly traded company within the next 12 months.
The geographic focus of the Companies is China. With majority interest in several highly-prospective properties, experienced personnel, and an extensive network of contacts in China, the Companies are on-track in implementing their business plans and objectives.
Safe Harbor
Certain statements contained herein are ''forward-looking'' statements (as such term is defined in the Private Securities Reform Act of 1995). Because such statements include risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements.