CMC Metals purchased 100 percent ownership of a 50 ton per day mill located in Bishop, California. The mill was constructed by Mammoth Mountain Mining in 1985 and is connected to grid power and is located one mile from a paved highway outside Bishop CA. To provide an initial mineralized material supply the mill, the company identified the Radcliff deposit and has acquired its 50 % interest from PBI.
The mill is being prepared for operations and the Company is identifying further potential sources of mineral supply. The Company intends to use the mill to gain participation interests in regional gold development opportunities.