Green Technology Solutions (OTC:GTSO) announced today that it is negotiating a letter of intent with Arizona-based WCI Brokers to acquire the Rio Del Monte Mining properties and assets in La Paz County, Ariz. GTSO is interested in potentially developing the mine into a domestic source of rare earth elements. As I write, shares of GTSO are down 11 percent at $3.55 per share on volume of just over 73,000 shares.The Rio Del Monte property and assets include 400 deeded acres and 20 federal patent claims as well as the associated rights needed to operate the mine. Though gold and silver were once mined at Rio Del Monte, the property has most recently been used as a gravel operation. Once both parties sign the letter of intent, Green Technology Solutions will have 90 days to negotiate a potential purchase.
“This property has never been mined for rare earths before, but based on our analysis, Rio Del Monte could become a very profitable domestic source of such critical materials,” said GTSO President and CEO John Shearer. “We look forward to conducting our due diligence on this opportunity and negotiating the definitive acquisition soon.”
Green Technology Solutions acquires, develops and implements the newest clean mining technology to enable its partner clients to expand operations throughout the world. Environmental restrictions represent the largest restriction to mining industry growth and operations. GTSO focuses on overcoming these environmental restrictions with clean mining technology.
For more information, please visit http://www.GreenTech-Solutions.com.
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