Dallas, Texas (November 9, 2011) – StockGuru Shines its Spotlight on the Shelron Group, Inc. (OTCBB: SRNG), a New York based mineral exploration and development company focused on acquisition, exploration, evaluation, and development of mineral resource properties in Africa and South America. The Company closed on November 8, 2011, at $0.084, trading in a fifty-two week range of $0.09 – 0.0021.
The Company announced yesterday, that besides Africa, Shelron group enters into gold exploration in Chile based on the country’s potential, and the company’s strategy to explore gold in Africa and in the Americas.
Shelron is interested in more deals to increase its portfolio and opportunities. The focus of the company is to adhere to its acquisition criteria and only acquire a prospecting license in Chile that can potentially be developed into proven reserves or productive metal resource mines.
Chile Gold Production:
In five years, the country is expected to become one of the largest producers of the metal worldwide.
That’s where Chile strives to be among the countries that produce the largest amount of gold in the world.
The Andean nation isn’t there yet – but it’s getting close, officials said.
Chile is ranked 17th in the global ranking of gold production, according to Bloomberg, with 39.494 metric tons in 2010, according to the Chilean Mining Ministry.
China is ranked atop the list with 324 metric tons produced annually, followed by Australia (223 metric tons); South Africa (220); United States (219); Russia (205); Peru (182), Indonesia (166), Canada (96); Ghana (90) and Uzbekistan (75), according to Bloomberg.
But Chilean officials are optimistic their continued investment in the sector will enable the industry to ascend the rankings into the top 10. They also envision gold rivaling copper as the main source of revenue for the economy.
“Gold has become a secure haven for investors,” said Vicente Pérez, an analyst who works for the Chilean Copper Commission (Cochilco).
The country is home to US$9 billion in investments in its gold and silver mining sector, according to Cochilco.
Gabriel Balcázar, a corporate mining consultant, said the investments made to increase the production of gold also will make the Andean nation an even bigger player in the silver market.
Chile is ranked fifth in the world in silver production with 1,607 metric tons annually, just behind fourth-place Australia (1,727 metric tons). Peru, with 3,471 metric tons, tops the list, according to 2010’s figures by the United States Geological Survey.
Balcázar, however, said Chile has the potential to move into the top four.
About Shelron Group
Shelron Group, Inc. (OTCBB : SRNG) is a New York based mineral exploration and development company focused on acquisition, exploration, evaluation, and development of mineral resource properties in Africa and South America. The Company incorporated in Delaware and is headquartered in New York.
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