TORONTO, Sept. 3, 2008 (GLOBE NEWSWIRE) -- Aspire International, Inc's ("Aspire" or the "Company") (OTCBB:APIT) wholly owned subsidiary Aspire GuangXi Inc. ("AGI") announced today the release of the mining business executive summary.
Executive Summary
Summary of Business Objective
Aspire GuangXi Inc. (AGI) is an enterprise with emphasis on business in Greater China, tapping on the fast growth of the region in the decades. AGI focuses on the high-growth mining and exploration industry that can sustain its business growth in years to come.
AGI is set up as a Wholly Owned Foreign Enterprise (WOFE) in GuangXi, China with mining and exploration business licenses.
Projects
AGI focuses in base metal mining, exploration and trading business. The following are the current projects:
1. 21.3Km2 Manganese mine, currently in production with daily
capacity of 400 ton.
2. Iron mine, currently under construction for production.
Market Opportunity
AGI participates in the business of base metal mining and trading with the first project in Manganese ore. Manganese is the fourth heavily consumed metal behind iron, aluminum and copper. Manganese is a key component in steel and iron production which accounts for up to 90 percent of the metal's current consumption. Some alloy contains up to 14% of Manganese. In special alloy, which requires toughness and wear-resistance for applications such as gyratory crushers, jaw crusher plates, rail steel and cutting edges for earth-moving equipment, nickel is being replaced in part or entirely by Manganese.
Manganese ore consumption in 2006 was 10.88 million ton and is expected to grow in 2007 and 2008. The highest demand is in Asia with 6.518 million ton while the production is only 4.95 million ton. There was a shortage of 1.5 million ton in 2006, and the shortage is expected to continue to rise in 2007 and 2008. With the current price of RMB1,700 (USD240) per ton, there is a market demand of US$360 million yearly just to fill in the shortage in Asia alone.
Products and Services
AGI currently carries two different grades of Manganese ore, high grade ore with Manganese content between 30% and 44% and regular grade ore with Manganese content less than 30%. In addition, AGI produces different Manganese compounds such as Silicomanganese (SiMn) and Ferro Manganese (FeMn).
Competitive Advantages
a) One-stop shopping for Manganese ore
b) Located in GuangXi, Feng Cheng District with local highway access
and ferry port
c) Strong local government support
d) "Top of the class" sales team with years of experiences and
connections
e) Low cost and high profit margin structure
Business Model
a) Direct sales to alloy manufacturers and metal traders
b) Outsource mining labor and management to professional company
c) Partner with and/or acquire neighborhood mining sites for rapid
grow
d) Subdivide into multiple mining sites to attract individual
contractor miners.
Financial Projections
This financial projection is based on AGI's sales projection.
------------------ -------- -------- -------- -------- --------
2008 2009 2010 2011 2012
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Revenue
(USD in Thousand) $ 6,000 $ 24,000 $ 70,000 $104,000 $146,000
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Net Operating
Income/(Loss) $ 1,500 $ 6,600 $ 21,000 $ 32,000 $ 45,000
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This projection is based on the assumption of being able to raise enough capital for the mining operations.
References:
1. Report Claims Manganese Market will Exceed 11.6 Million Tons by 2010.
http://www.azom.com/News.asp?NewsID=9231
2. International Manganese Institute
http://www.manganese.org/intro.php
About Aspire International Inc.
Aspire International Inc. (OTCBB:APIT) was registered on December 18, 2007 in the state of Maryland. Perfisans Networks Corporation, (www.perfisans.com) founded in 2001, is a wholly owned subsidiary of Aspire International Inc. and is headquartered in the high-tech zone of Markham, Ontario, Canada. Aspire GuangXi Inc. (www.apit.ca) is a wholly owned subsidiary of Perfisans Networks Corporation located in GuangXi, China.
Aspire continues growing into the China and Far East market and keeps exploring various local business growth opportunities through business partnership, expansion and potential acquisitions.
More information can be obtained from the Company's web site at www.perfisans.com and www.apit.ca.
Cautionary Statement
This press release contains statements relating to future results of Aspire (including certain projections and business trends) that are "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected as a result of certain risks and uncertainties. These risks and uncertainties include, but are not limited to: the cyclical nature of the semiconductor industry and the markets addressed by the company's and its customers' products; demand for and market acceptance of new and existing products; successful development of new products; the timing of new product introductions; changes in product mix; product obsolescence; the availability of manufacturing capacity; fluctuations in manufacturing yields; pricing pressures and other competitive factors; the ability to develop and implement new technologies and to obtain protection for the related intellectual property; the uncertainties of litigation; our ability to attract and retain qualified personnel; as well as other risks and uncertainties, including those detailed from time to time in Aspire's Securities and Exchange Commission filings. These forward-looking statements are made only as of the date hereof, and the company undertakes no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise.