Trading on the OTC Bulletin Board, United Mines Inc. is an exploration stage mineral exploration company. The Company focuses primarily on Gold (Au), Silver (Ag) and Copper (Cu). They have been in the mining industry since January 2005. They formerly went by the name King Mines, Inc. and changed their name to United Mines, Inc. in March of 2005. United Mines Inc. has their headquarters in Tucson, Arizona.
The Company currently owns four groups of mining claims. These groups include one primary silver exploration stage mining project, seven gold exploration stage mining projects, three copper exploration stage projects, and one placer gold exploration stage project. These projects are all located in Arizona, USA.
The four groups of mining claims include 92 unpatented Bureau of Land Management (BLM) mining claims in Southern Arizona, totaling 1,840 acres. They also own three Arizona State Land Department (ASLD) Mineral Exploration Permits, Nos. 08-110135, 08-110136, and 08-110137, each of which are each good for 5 years, currently thru April 13, 2011. This Arizona state land department position totals 1,920 acres of land. These are renewable annually, at $2.00 per acre for year one, no charge per acre for the second year, and $1.00 per acre for years 3 to 5, plus a $500 renew application fee. This fee had been paid thru April 13, 2011.
For Gold Mines, United Mines Inc. has the Ajax Mine Group, the Big Three Mine Group, and the Ostrich Mine Group. For Silver Mines they have the Clark Mine Group, the Mary G Mine Group, and Associated Silver Projects. These include the Waterman, Walapi, Liberty, and Cerro Mine projects.
For Copper Mines, the Company has the Blue Copper Mine Group, the Green Copper Mine Group, and the Red Bed Group. In addition, United Mines has the La Colorada Twin Plant Facility. This facility consists of two mineral processing and recovery circuits. One is a high-grade ore crushing, milling, and concentrating plant; the other is the adjoining heap leach facility. The high-grade mill, when updated, will have a capacity of 100-plus tons per day. The heap leach circuit will have an initial total capacity of 50,000 tons.
For Phase 1 work, United Mines aims to fast-track exploration projects to feasibility stage, then to production using their cost-effective technical capabilities as funding becomes available. Immediate plans include the modification and upgrade of their existing high-grade ore-processing mill.
The Company has identified and controls over 45,000 tons of highly mineralized Ag material in their 100 percent owned side cast mine dumps, which will enable them to begin metals production quickly. They are anticipating near-term success at adding significant ore-grade material to the current mineralized inventory as large exposures and outcroppings of highly mineralized rock have undergone identification.
Phase 2 exploration will utilize shallow trenching and drilling to define shallow surface exposed silver and gold mineralization that may be extracted by open cut mining. This will provide additional mill feed of both high grade and lower grade ores for the twin processing plants.
A Phase 3 exploration effort will follow to test for deeper concealed targets that have been indicated by geological investigation. As additional reserves are undergoing delineation, the current leach facility permit will be amended to increase heap leach pad capacity to approximately 550,000 tons.
In December, United Mines, Inc. announced that they signed an investment Letter of Intent with a major China investor group arranged by LehmanJones and Partners [Hong Kong] Ltd. LehmanJones has been engaged to lead, manage, and advise United Mines investments and fund raising in China, Hong Kong, and across Southeast Asia as growth capital advisors. Initial consultations, strategic investment structure, and private investor meetings took place in Beijing, China, resulting in a binding Confidential Letter of Intent (LOI).
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