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Message from the President
I am pleased to welcome you to the Prom Resources, Inc. website. The site has been designed to help you better understand our company. Our site focuses on current results and highlights of our operations.
Prom Resources has a strong operational and management expertise with the financial capability to build on its existing asset base and strong balance sheet.
We are committed to grow as a vertically integrated company providing superior returns to shareholders.
Over the ensuing months, we will be making improvements, updating and adding information to our website. We want our site to be a valuable source of company information to current and potential shareholders. If your needs are not met, or if you have any questions about the company, please e-mail us through our visitor feedback form . I look forward to reading your comments and questions.
We hope you find your visit to our site both useful and enjoyable and we hope you drop by often.
Dror Moradov
Company History
Pursuant to the laws of the State of Florida, Prom Resources, Inc. (Formally American Benefits Group, Inc.) was incorporated on February 26th, 1996. In 1997, Prom Resources acquired several gemstone-mining perimeters in Madagascar.
Company Business Overview
Prom Resources, Inc. is currently engaged in the active exploration and extraction of gold ore, corundum and beryl material at eight different mining and exploration perimeters in Madagascar.
The Company then has agreements in place with certain third party company's to sell its extracted material.
Contact
Head Office
220 Soi Prem Sombat 5,
Pracha Songkro, Din Deang
Bangkok 10400, Thailand
Madagascar Office
Antananarivo at Lot logement 06 bâtiment
6 cité Ambanidia Antananarivo 101
Madagascar
U.S.A.
48 Wall Street, 11th Floor
New York, NY
10005
Phone: (954) 697-2199
E-Mail: info@promresources.com
Quick Facts
Company Name: Prom Resources, Inc.
Ticker Symbol: PRMO.PK
Exchanges: NQB (Pink Sheets) http://www.pinksheets.com
Incorporation Date: February 26th, 1996
Financial year-end: June 30th
Common Shares Authorized: 2,000,000,000 as of Jul 31st, 2007
Preferred Shares Authorized: 10,000,000
Shares Outstanding: 292,424,109 as of Jul 31st, 2007
Number of Share Holders of Record: 222 as of Jul 31st, 2007
Federal ID No.65-0647122
Transfer Agent: Transfer Online, Portland OR
Executive Management: Dror Moradov, President and Director
Investor Relations
This section of our website provides information on both historical and upcoming events at Prom Resources. If we do not provide you with all the information you require, please go to Information Requests, where you can request additional information on Prom Resources. Please contact our investor relations department to answer any of your questions regarding Prom Resources, its websites or any of its affiliates.
U.S.A.
48 Wall Street, 11th Floor
New York, NY
10005
Phone: (954) 697-2199
E-Mail: info@promresources.com
VIEW PROM RESOURCES' INFORMATIONAL PACKAGE
Prom Resources' Recent Information, August 23rd, 2007
Prom Resources, Inc. New Location in Antananarivo, August 22nd, 2007
Prom Resources Appoints Chief Mining Engineering Consultant, August 20th, 2007
Prom Resources Acquires an Additional 16 Gold Perimeters to Its Toliara Concession, August 3rd, 2007
Prom Resources Receives More Perimeters With Greater Potential, January 22nd, 2007
Prom Resources, Inc. Has Sent Gold Samples to Umicore for Assay, November 6th, 2006
Prom Resources Updates Property Developments, October 30th, 2006.
Officers
Dror Moradov, President/CEO;
Outstanding Shares
292,424,109 as of Jul 31st, 2007
Float 5,101,078 as of Jul 31st, 2007
Transfer Agent
Transfer Online, Portland OR 97204
Business Description
Prom Resources, Inc. is currently engaged in the active exploration and extraction of gold ore, corundum and beryl material at eight different mining and exploration perimeters in the Republic of Madagascar.
Assets
Prom Resources endeavors to maintain and support its operations through the development of a strong asset base from its Madagascar mining perimeters. Prom Resources' corundum exploration takes place in northern and southern perimeters of Madagascar, the world's fourth largest island, which is located approximately 400 kilometers off the East Coast of Africa. Prom Resources has acquired major interests in well-established and official Malagasy companies, which have corundum concessions in the north and south of the island.
Projects
Ambohilovolovo Property
The company’s 80 Gold /Ore Perimeters in the Antananarivo province in the area of Ambohilovolovo has shown potential for significant gold prospects. The initial grab samples taken from these properties that were sent to the refinery yielded as follows:
- Wgt. In (gms) --- 8.93
- Used (gms) --- 0.04
- Wgt. Ret (gms) --- 8.53
- % Au (%) --- 91.30
Much of the work to date on the Ambohilovolovo property has focused on Gold/Ore Grab samples and assays. Mr. Gino Rasamison has begun to evaluate the property and looks to begin a Feasibility Study and program. The prospect is comprised of a linear, gold bearing quartz stockwork exposed along the southern flank of a trending ridge. This zone appears to be parallel to the trend of the ridge and is bisected by a narrow north-south river valley.
The company will continue to ship and process its grab samples and hopes to use the proceeds from these shipments to fund further exploration.
http://www.maplandia.com/madagascar/antananarivo/antananarivo-nord/antananarivo/
Ankavandra Property
Prom has acquired extensive land holdings with potential for significant gold prospects. The company currently holds approximately 48 Gold /Ore Perimeters of permits in in the Toliara province in the area Ankavandra. These target areas are considered primary targets for the company, and an initial exploration and sampling program is planed for the 2Q of 08.
http://www.maplandia.com/madagascar/antananarivo/antananarivo-nord/antananarivo/
At this time most of our efforts are directed to the collection of gold bearing mined material from artesianal labor. The Company’s planned second phase will follow the same path of low investment high return pattern that will allow operations to support future growth.
At the first phase a small, one ton per hour washing plant (shake table) will be used to separate the tested ore dug in pits that will be 3m deep at first and spaced 100m apart on a grid. Manual hand drilling of 2m at the bottom of each pit will define if to extend the pit depth to 5m. In areas where positive mineralization will be detected the pitting will be zoomed in to 50m apart spacing.
Ilaka-Sakaraha Property
The Company has secured 64 Corundum perimeters in the Toliara province in the area of Ilaka-Sakaraha. This area is well know for alluvial corundum. Currently the company allows local villagers to hand cob the perimeters and then purchase this material from them at an expectable cost. This process has proven to be economical to date, due to the following reasons
- Current workers have limited resources to dig down past 6 feet
- Material is average grade and can be sold for a high profit
- Current mining laws allow for locals to inhabit this area
http://www.maplandia.com/madagascar/antananarivo/antananarivo-nord/antananarivo/
Madagascar FAQ
Location: Measuring 988 miles in length and 357 mile wide, Madagascar is the world's fourth largest island and is located south of the equator, 250 miles off the East Coast of Africa.
Terrain: The versatile terrain of Madagascar features a chain of mountains that cascade through the east-center of the island into the Indian Ocean, providing shelter and nutrients to a lush tropical coastal plain. To the west of the mountains, a wider, drier plain hosts forests and vast areas of savanna grassland.
Climate: Being located close the equator Madagascar maintains mostly tropical temperatures. However, the temperatures can drop to freezing at higher elevations in the south. Rainfall in Madagascar also varies. The Eastern coast experiences rain on almost a daily basis, whereas the South averages only 51 days of rainfall per year.
Culture: Madagascar is believed to have been virgin territory that was initially inhabited by only a small number of people. By the early 1400's, inhabitants from lands surrounding the Indian Ocean, such as Malaysia, Java, and Africa had settled in Madagascar. During the 1500's Madagascar was a prominent station in the development of trade routes between Europe and the Far East. By the late 1600's pirates ruled the waters surrounding the island. All of these historical events have lead to the assembly of a culturally rich and diverse Malagasy nation.
Language: The first language of Madagascar is Malagasy while the official business language is French. Some English is spoken in Madagascar but is mostly limited to the capital city of Antananarivo and major resort areas. Due to a large early Arabic influence, the many dialects spoken within this island nation have a distinctive Arabic flavor.
How does the political environment of Madagascar factor into PROM's production? Madagascar, a Democratic Republic, has created an atmosphere, through economic reforms and racial harmony, which is favorable to the foreign investor. The Malagasy government is determined to increase foreign investment and has given PROM a strong sense of support. PROM is a welcome addition to the economy of the island Republic, because PROM provides employment, aids economic development, and maintains sensitivity to the Malagasy culture and environment.
What is the current economic condition of Madagascar? Madagascar, classified as a Third World Nation, suffers from insufficient health and educational facilities and a substantial portion of the population suffer from malnutrition. Agriculture, forestry and fishing are the staples of the Malagasy economy, accounting for 35% GDP and 70% of export earnings; but a 3% annual population increase, over-foresting, and a considerable level of land erosion is taking its toll on economic conditions.