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Unico, Inc. Announces Additional Improvements to Mill and Processing Facility at Deer Trail Mine
SAN DIEGO, CA, May 19, 2006 (MARKET WIRE via COMTEX) -- Unico Incorporated (OTC BB: UNCN), a natural resource company in the precious metals mining sector, today provided additional updates on activity at the mill and processing facility at the company's Deer Trail Mine in Marysvale, Utah. Reconstruction of the mill and processing facility will improve both efficiency and capacity in processing operations at the Deer Trail Mine.
Once the mill is operational, Unico's wholly owned subsidiary Deer Trail Mining Company, LLC will begin processing current stockpiles and sell the concentrates in fulfillment of the company's five-year purchase contract with PGM, LLC, a private subsidiary of Polymet Corporation. Terms of the agreement include a monthly purchase quantity of 150 tons for the first 6-9 months and increases to 300 tons through the duration of the five-year term. Unico has estimated that the gross cash flow produced from this contract could range from $125,000 up to $450,000 per month.
Included in recently completed construction is additional progress on a new control room, updated communications infrastructure, and a new catwalk that extends from the observation deck to the proposed flotation deck.
After further engineering review and millwright work, it was also determined that it would be more advantageous not to modify the ball-mill from a grate-discharge to a pass-through open-discharge mill. As a result, the existing format will be maintained, but the system will be made more durable and its functionality improved. New rubber ball mill liners and grate assembly have been ordered, and Weir Minerals North America Rubber Engineering (www.weirminerals.com) has initiated the engineering and fabricating work. After being supplied with the forms and tooling for the specific ball-mill, Weir Minerals completed their on-site inspection of final sizing and measurements to begin fabrication. A payment of $20,371 was made as a 50% up-front fee for this work, with the balance to be paid upon completion.
"We are making excellent progress at the Deer Trail mill and processing facility and are pleased at how well the upgrades are going thus far," said Mark A. Lopez, chief executive officer of Unico, Inc. "It was decided, after consulting with Jean Duvall, the millwright working on the upgrades at the Deer Trail facility, that changing the ball-mill from a grate-discharge to a pass-through open-discharge mill would entail additional risk we are not willing to take on. As we move forward, we will continue to evaluate further changes and upgrades, but we are confident that this course is best at this time."
The ongoing reconstruction will become more visible though a series of photographs that Unico expects to make available on its website, www.uncn.com, in the coming days.
"As part of revamping our website to include the most current and complete information on the company, we will display a number of pictures that capture the improvements underway at the mill and processing facility. Unico firmly believes that while the company's most significant and long-term potential value rests in its subsidiary mine properties, the initiation of monthly revenues from its current stockpiles will be an important milestone in Unico's development. To that end, we want our shareholders to see this reconstruction work in progress," added Mr. Lopez.
To sign up to receive information by email directly from Unico, Inc. when new press releases, SEC filings or other information is disclosed, please visit www.uncn.com/IR/mailinglist.asp.
About Unico, Inc.
Unico, Inc. (www.uncn.com) is a publicly traded natural resource company in the precious metals mining sector that is focused on the exploration, development and production of gold, silver, lead, zinc, and copper concentrates at its three mine properties: the Deer Trail Mine, the Bromide Basin Mine and the Silver Bell Mine.
Forward-Looking Statements
This news release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and such Section 21E of the Securities Exchange Act of 1934, as amended. Such statements are subject to risks and uncertainties that could cause actual results to vary materially from those projected in the forward-looking statements. The company may experience significant fluctuations in operating results due to a number of economic, competitive and other factors. These factors could cause operation results to vary significantly from those in prior periods, and those projected in forward-looking statements. Information with respect to these factors which could materially affect the company and its operations are included on certain forms the company files with the Securities and Exchange Commission.
Contacts:
Gemini Financial Communications for Unico, Inc.
A. Beyer
951-587-8072
Contact via http://www.marketwire.com/mw/emailprcntct?id=31F90494DE1F9177
www.uncn.com
OTC Financial Network
Rick McCaffrey
781-444-6100, x625
Contact via http://www.marketwire.com/mw/emailprcntct?id=ADA0D09BB3DE9035
www.otcfn.com/uncn
SOURCE: Unico, Inc.
CONTACT: http://www.uncn.com
http://www.otcfn.com/uncn
SAN DIEGO, CA, May 19, 2006 (MARKET WIRE via COMTEX) -- Unico Incorporated (OTC BB: UNCN), a natural resource company in the precious metals mining sector, today provided additional updates on activity at the mill and processing facility at the company's Deer Trail Mine in Marysvale, Utah. Reconstruction of the mill and processing facility will improve both efficiency and capacity in processing operations at the Deer Trail Mine.
Once the mill is operational, Unico's wholly owned subsidiary Deer Trail Mining Company, LLC will begin processing current stockpiles and sell the concentrates in fulfillment of the company's five-year purchase contract with PGM, LLC, a private subsidiary of Polymet Corporation. Terms of the agreement include a monthly purchase quantity of 150 tons for the first 6-9 months and increases to 300 tons through the duration of the five-year term. Unico has estimated that the gross cash flow produced from this contract could range from $125,000 up to $450,000 per month.
Included in recently completed construction is additional progress on a new control room, updated communications infrastructure, and a new catwalk that extends from the observation deck to the proposed flotation deck.
After further engineering review and millwright work, it was also determined that it would be more advantageous not to modify the ball-mill from a grate-discharge to a pass-through open-discharge mill. As a result, the existing format will be maintained, but the system will be made more durable and its functionality improved. New rubber ball mill liners and grate assembly have been ordered, and Weir Minerals North America Rubber Engineering (www.weirminerals.com) has initiated the engineering and fabricating work. After being supplied with the forms and tooling for the specific ball-mill, Weir Minerals completed their on-site inspection of final sizing and measurements to begin fabrication. A payment of $20,371 was made as a 50% up-front fee for this work, with the balance to be paid upon completion.
"We are making excellent progress at the Deer Trail mill and processing facility and are pleased at how well the upgrades are going thus far," said Mark A. Lopez, chief executive officer of Unico, Inc. "It was decided, after consulting with Jean Duvall, the millwright working on the upgrades at the Deer Trail facility, that changing the ball-mill from a grate-discharge to a pass-through open-discharge mill would entail additional risk we are not willing to take on. As we move forward, we will continue to evaluate further changes and upgrades, but we are confident that this course is best at this time."
The ongoing reconstruction will become more visible though a series of photographs that Unico expects to make available on its website, www.uncn.com, in the coming days.
"As part of revamping our website to include the most current and complete information on the company, we will display a number of pictures that capture the improvements underway at the mill and processing facility. Unico firmly believes that while the company's most significant and long-term potential value rests in its subsidiary mine properties, the initiation of monthly revenues from its current stockpiles will be an important milestone in Unico's development. To that end, we want our shareholders to see this reconstruction work in progress," added Mr. Lopez.
To sign up to receive information by email directly from Unico, Inc. when new press releases, SEC filings or other information is disclosed, please visit www.uncn.com/IR/mailinglist.asp.
About Unico, Inc.
Unico, Inc. (www.uncn.com) is a publicly traded natural resource company in the precious metals mining sector that is focused on the exploration, development and production of gold, silver, lead, zinc, and copper concentrates at its three mine properties: the Deer Trail Mine, the Bromide Basin Mine and the Silver Bell Mine.
Forward-Looking Statements
This news release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and such Section 21E of the Securities Exchange Act of 1934, as amended. Such statements are subject to risks and uncertainties that could cause actual results to vary materially from those projected in the forward-looking statements. The company may experience significant fluctuations in operating results due to a number of economic, competitive and other factors. These factors could cause operation results to vary significantly from those in prior periods, and those projected in forward-looking statements. Information with respect to these factors which could materially affect the company and its operations are included on certain forms the company files with the Securities and Exchange Commission.
Contacts:
Gemini Financial Communications for Unico, Inc.
A. Beyer
951-587-8072
Contact via http://www.marketwire.com/mw/emailprcntct?id=31F90494DE1F9177
www.uncn.com
OTC Financial Network
Rick McCaffrey
781-444-6100, x625
Contact via http://www.marketwire.com/mw/emailprcntct?id=ADA0D09BB3DE9035
www.otcfn.com/uncn
SOURCE: Unico, Inc.
CONTACT: http://www.uncn.com
http://www.otcfn.com/uncn
