Eagle Oil Holding Company (EGOH:OTC) Provides Details On Its Newly Acquired Ecuadorian Mining Assets
By: Eagle Oil Holding Inc.
The concessions are located in the province of Loja in Ecuador. The three concessions have a total of 2843 mining hectares and are approved for exploitation. The properties can be in production within 60 days. Miners can expect to extract 2,061 cubic meters per day of fine gravel that should contain 1.5 grams of gold per cubic meter. The mining company will work 24 days per month.
Ecuador is one if the most attractive countries in the world to mine for gold because their mining laws were updated on January 1st, 2010 in the favor of foreign mining corporations. Ecuador is also a proven gold producer where the government is very friendly to the mining sector with a favorable economic and positive political climate. The Corporate tax rate is 22%, with 3% Royalties and a 25% Income tax rate for ex-pats. There are no restrictions on metals and profit exportation as well as good infrastructure and easy road access.
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Further updates will be forthcoming
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For More Information, Ken Williams, CEO | Eagle Oil Holding Company
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