Headquartered in Phnom Penh, Cambodia, Elray Resources, Inc. is a junior exploration and development enterprise trading on the OTCBB. Their corporate mission is to become a multi-region, multi-property exploration and production mining company. They have a portfolio of four highly prospective and heavily mineralized mining tenements in Cambodia and Mexico. Their focus now is to source potential and viable projects, conduct geological assessments, and seek joint venture partners to develop these properties. Their 100-percent controlled entity in Cambodia is Angkor Wat Minerals Ltd.
Elray Resources’ properties in Cambodia total over 15,000 hectares. Cambodia has emerged as a stable and pro-business country in the region. The Asian Development Bank said the country’s annual GDP growth is forecasted at 7.5 this year. Elray Resources Inc. is strengthening their position in the country as mining has blossomed there. In addition, mining properties were recently opened up to exploration using modern techniques. Elray holds 100 percent of the license for their properties in Cambodia.
Elray Resources also has an option on a prospective property in Mexico, one of the most prolific gold and silver producing countries in the world. The company’s Analhi Project is situated in Sinaloa State, Mexico. This mining concession has some gold values, as well as rare earths and copper compounds such as oxide, carbonates, and sulphates.
Elray Resources announced last week that they appointed a project team responsible for their projects in Cambodia and worldwide. Mr. Grant Roberts and Mr. Tony McDougal will lead the team. Mr. Roberts is a geologist with 28 years experience in geology, mineral exploration, and geophysics. He has experience executing and managing geological and geophysical programs, including corporations such as BHP, Riotinto and Xstrata. Mr. McDougal is a geologist with 15 years experience in geology and mineral exploration. He has managed and supervised regional scale exploration programs in base metals, precious minerals, and coal and has worked in New Zealand, Australia, South America, and Southeast Asia.
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