Alto Group Holdings, Inc. (OTC:ALTO), a mining and commodities trade company headquartered in New York, announced today completion of the acquisition of mineral rights in the Horse Shoe Bar gold mine. Shares of Alto Group closed on Friday at $0.0127 per share and averages 7.9 million shares traded per day. The company has a 52-week range between $0.01 and $0.17 per share.Situated on the middle fork of the American river near Forest Hill California, the "Horse Shoe Bar" got its name because of its being naturally shaped like a horse shoe, over a mile and a half around, a few hundred yards wide.
Even though this is a Gold extraction project, it is also being viewed as an "Environmental reclamation project" in that Alto Group will be restoring natural native habitat and cleaning up old mine tailings where there was gravel extracted for a dam project up river in the early 1950s.
There are a number of exemptions regarding remedial restoration and clean ups for old mine tailings, mine dumps, mine pits and flood damage that will help expedite permitting.
According to the press release, from historical records, documents and recent testing, Alto Group estimates conservatively that there is approximately $25 to 35 million in gold (at $800.00 per ounce) on the Horse Shoe Bar in itself.
For more information on Alto Group visit the company’s Web site: http://www.altomines.com/.
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