Spectacular Gold Forecast Bolsters GTSO's Urban Mining Efforts
SAN JOSE, Calif.--(BUSINESS WIRE)-- As analysts predict a big rise in gold prices over the next three years, Green Technology Solutions' (OTCBB: GTSO) mining subsidiary, GTSO Resources, is hard at work developing new processes to dig the glittering metal out of discarded electronics, turning an unwanted commodity into currency.
Richard O'Brien, the CEO of major producer Newmont Mining Corp. (NYS: NEM) , said last week at MINExpo 2012 that gold may hit a price of $2,500 per ounce by 2015 as investors buy the metal as a hedge against inflation. Additionally, demand from central banks during price dips could potentially create a floor for gold prices at around $1,600, he said.
That's a terrific forecast for GTSO. With help from its partners, the company is positioning itself as a leader among urban miners in the U.S. In September, GTSO Resources signed a letter of intent to acquire Global Cell Buyers, an emerging U.S.-based e-waste recycling company. A deal may allow GTSO to optimize recovery of gold and other valuable minerals from obsolete cell phones. GTSO Resources is also in talks with a leading e-waste recycler in Latin America.
"What we're witnessing is the emergence of gold as a global currency," said GTSO CEO Paul Watson, who also attended MINExpo 2012 in Las Vegas last week. "GTSO has developed a solid business strategy to capture the unbelievable growth forecast for this market using sustainable methods, including urban mining and traditional, near-surface mining designed to have less impact on the environment."
For more information on these initiatives, please visit www.GTSOResources.com/investors.html.
Urban mining is a major pillar of GTSO's plans to compete alongside major international corporations striving for sustainable manufacturing solutions, such as Sprint Nextel Corp. (NYS: S) and Toyota Motor Corporation (NYS: TM) . The company is also exploring traditional mining opportunities in the U.S. and Africa through its joint venture with Diamond V Associates.
About Green Technology Solutions, Inc.
Green Technology Solutions, Inc. [www.gtsoresources.com] is a growth-oriented company exploring rare earth minerals and precious metals production around the world. To learn more, please visit our website at www.GTSOresources.com/investors.html.
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Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements that include the words "believes," "expects," "anticipate" or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company to differ materially from those expressed or implied by such forward-looking statements. In addition, description of anyone's past success, either financial or strategic, is no guarantee of future success. This news release speaks as of the date first set forth above and the company assumes no responsibility to update the information included herein for events occurring after the date hereof.
Green Technology Solutions, Inc.
Paul Watson, 408-432-7285
President and CEO
KEYWORDS: United States North America California
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