Star Alliance International Corp. New Year Update From the Chairman
WESTLAKE VILLAGE, CA / ACCESSWIRE / January 10, 2023 / Star Alliance International Corp. (OTC PINK:STAL) ("Star" or the "Company") is announcing an update from our Chairman.
Richard Carey, Chairman and Founder of Star Alliance International stated;
"It is with great pleasure that I can provide our shareholders an update on our progress throughout this last year.
It has, overall, been a very exciting year for us in a very tough environment. Although, like multiple companies with strong assets, the share price does not reflect the true value of the Company. However, we expect improvement over the next few months.
During the last year we entered into binding Letters of Intent to acquire a 51% controlling interest in "Genesis", our environmentally safe, gold and other complex minerals extraction process. Genesis is game changing technology that extracts gold and other minerals from Oxide and other complex ores. Lastly, we signed a binding Letter of Intent to acquire a 51% interest in both gold and lithium mines in Nigeria.
During the year we either closed or completed funding on three transactions, paying in full for the Troy mine, purchasing a 51% stake in 5 gold mines in Honduras and in December closed the purchase of the Barotex™ patents, trademark, equipment and inventory.
The Barotex asset purchase is a very significant step for the Company. The Barotex fibers are incredibly strong, (seven times stronger than steel), 50 % less weight and stronger than fiberglass, is impervious to salt water and other chemicals and will not rust and or burn. We have multiple product opportunities for this fiber, but our first product line will be in the construction industry. Other benefits of this product line are that it is recyclable and reusable. We plan to have our manufacturing plant fully operational and to have products out in the market during the first half of 2023.
We will continue to look for further opportunities in the mining industry not just for gold, but for other complex metals. We have been able to increase the extraction capabilities of our Genesis machinery extracting gold, silver and minerals from complex ores such as coal tailings with zero emissions. Our intent is to use our green technology to clean up coal and other ore tailings in an environmentally safe manner recovering up to 98% of metals from that ore.
Most people have not recognized the value of the reserves of gold, silver and lithium in our mines in California, Honduras and Nigeria. We have appraisals of the California and Honduras mines that were prepared by qualified geologists in and around 2005. Because these were prepared under the rules for mining appraisals at that time, they cannot be used to verify these reserves now, even though there has not been any mining at these locations since these appraisals were prepared. We have already started on a current appraisal in California (NI 43-101), that follows SEC guidelines. Once completed we will be able to add the values of these significant reserves to our Balance Sheet. We plan to start on the appraisals for Honduras and Nigeria as soon as possible.
We are targeting completion of these appraisals over the next 3 to 4 months.
There has been no mining at the California and Honduras sites since the original valuations and of course with the gold price hovering around $1800 per ounce we expect a staggering improvement in the value of our Company.
We will of course update you with information as soon as it is available.
During this last year our CEO, Weverson Correia has been instrumental in expanding our reach into Guatemala and Latin America. In fact, it is hard to single out individual members of the team because everyone has put in considerable time and energy to build our base of business."
We feel that next year will see considerable growth and improvements in our business and we expect to be generating revenues within the first six months of 2023.
Last of all, but most important to me is increasing shareholder value. You, our shareholders, are the lifeblood of our business. We want you to recognize that we strive to achieve the best results for our company, so that everyone reaps the benefits richly deserved. It has always been our intent to distribute part of our profits in the form of a dividends and we expect to start that practice in 2023. Being a part of our Company is being part of the Star Alliance International family and I again want to thank you for your support throughout this past year."
About Star Alliance International Corp.
Star Alliance International Corp. ("the Company", or "STAL") was incorporated in the State of Nevada on April 17, 2014, under the laws of the State of Nevada.
Star Alliance International Corp is a Worldwide Holding Company with strong assets in the US, Honduras, Guatemala and Nigeria.
Star's assets include gold mines in California and Honduras with binding letters of intent to acquire gold and lithium mines in Nigeria. In addition, Star searches out innovative new technologies that are eco-friendly including our new mining technology "Genesis" that is used for the extraction of gold. This equipment that we plan to market to gold mines worldwide has been invented, designed and built in Guatemala. Lastly, we have our patented Barotex™ technology. Barotex is the fiber, manufactured from volcanic rock, that is incredibly light, stronger than steel, wood, carbon fiber, fiberglass, aluminum and Kevlar and is recyclable. The product can be used in many everyday applications.
We anticipate continued expansion of our efforts domestically and abroad, with a particularly keen focus on breakthrough separation and processing technologies for precious metals and rare earths.
It is Star's goal to become a very well-rounded enterprise with sufficient diversification paired with a balanced approach ensuring the very best possible results and the highest possible value for our shareholders.
Safe Harbor and Informational Statement
This press release may contain forward-looking information within the meaning of Section 21E of the Security Exchange Act of 1934, as amended (the Exchange Act), including all statements that are not statement of historical fact regarding the intent, belief or current expectations of the company, its directors or its officers with respect to, among other things: (i) the company's financing plans; (ii) trends affecting the company's financial conditions or results of operations; (iii): the company's growth strategy and operating strategy; and (iv) the declaration and payment of dividends.
The words "may", "would", "will", "expect", "estimate", "anticipate", "believe", "intend", and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statement is not a guarantee of future performance and involve risks and uncertainties, many of which are beyond the company's ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors including the risk disclosed in the company's statements and reports filed with the OTC Markets. The Company claims the safe harbor provided by Section 21E(c) of the Exchange Act for all forward-looking statements.
For more information, contact STAL.
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SOURCE: Star Alliance International Corp.
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