Gemini Explorations, Inc. (GXPI.OB) is a mining and development company that is focusing its efforts in Colombia, South America. The company has successfully capitalized on the management team’s 15 years of experience by utilizing existing business relationships in the region to create an intermediate gold company.
Colombia has historically been one of the largest gold producing countries in the world, yet only a marginal portion has been explored with modern techniques. Using antiquated equipment, the Dept of Antioquia area currently produces over 1 million ounces of gold per year.
Due to Colombia’s past economic and political instability, the country’s mineral resources have remained untouched. In recent years, the political environment in Colombia has stabilized and the economy is now flourishing. In 2006, the country reported Latin America’s fastest GDP growth.
With the passing of an investment-friendly mining code, Colombia has now become one of the most favorable mining frontiers. The 2001 Mining Act helped clarify ownership and mining rights, providing added protection for foreign investors and promoting environmentally-friendly mining practices. Several foreign mining companies, like South Africa’s AngloGold Ashanti Ltd and Colombia Goldfields Limited, have begun to operate in the country.
The potential in Gemini’s La Planada site is estimated at over $3 billion. Interestingly, operators near La Tapata have approached Gemini with requests to process their gold with the new equipment being placed at the site through joint ventures. These types of agreements would provide Gemini with unexpected supplemental revenue.
With the combination of Colombia’s improved political climate and its vast untouched mineral potential, Gemini is in a great position to capitalize on the country’s mineral resources.
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