United Resource Holdings Group, Inc. (OTCPK:URHG) announces that Phase 1 of the Dun Glen Mine retrofit will begin commissioning with final parts ordered and on schedule to be delivered by this Friday so that once phase 1 commissioning is completed 100 tons per hour can be processed using the new 42′ Super Scrubber trammel with custom 2″ by 6” herring bone patterned screens, powered by a heavy duty 16 wheel drive unit. The new circuit also includes a sluice box with custom designed riffles specific to the material found at the Dun Gen site.
The company also announces the beginning of phase 2 of the retrofit has begun, which includes the addition of the Feed Hopper grizzly, Wet Mag separator, dual jigs, hydro cyclones and a full size Wilfley table. Phase 2 will require an additional $250,000 in capital and will have a dewatering plant to provide additional processed water for the circuit to increase capacity and recovery by 20-50%.
Due to the increase in the share price, the Company also announces that it has entered into a debt settlement agreement with an arm’s length creditor, pursuant to which the Company has settled a debt of $697,088 through the issuance of 6,000,000 Common Shares.