SAN JOSE, Calif.--(BUSINESS WIRE)--Green Technology Solutions, Inc. (OTCBB:GTSO), an emerging precious metals exploration company, announced today that it extended its option to explore a potential acquisition or strategic partnership with the mineral development company Chery Minerals, LLC.
Currently, Chery Minerals is working to develop new gold resources in the African nations of Mali, Burkina Faso and Ghana. GTSO extended its option agreement with Chery in order to continue talks with capital investors interested in joining the African mining efforts.
“Rising demand is turning Africa into an increasingly high-reward market for gold developers,” said GTSO CEO Paul Watson. “GTSO continues to develop its relationship with Chery Minerals to enable the Company to capitalize on the incredible rise in gold prices. The African gold industry remains one of the world’s largest developers of gold resources and presents a fantastic growth opportunity for the coming years. It’s the perfect market for an aggressive startup like GTSO with an expansive international network.”
GTSO is not alone in its efforts to capitalize on the opportunity in Africa. The major mining company Randgold Resources has produced approximately 5.8 million ounces of gold and distributed more than $1.6 billion to stakeholders over the last decade thanks to its development efforts in southern Mali. The company expects to be producing 1.2 million ounces of gold per year by 2015. Tanzanian-based gold company Barrick Gold PLC, reported dramatically increased profits in the third quarter of this year, triggered by a boost in increased production and high gold prices. The company’s net profit for the period jumped to $102 million, exceeding projections.
“The success of other companies within this sector has been incredible, and we believe Africa is the next frontier for significant gold development opportunities,” Watson said.
GTSO plans to service a fast-growing global appetite for rare earth and precious metals to compete in an exciting sector that includes Kinross Gold Corporation (NYSE:KGC), MV Rare Earth/Strategic Metals (NYSEArca: REMX), SPDR Gold Shares (NYSEArca: GLD) and AngloGold Ashanti (NYSE:AU).
To track gold’s meteoric rise and learn more about GTSO’s resource development initiative, please visit www.gtsogold.com/investors.
About Green Technology Solutions, Inc.
Green Technology Solutions, Inc. [www.GTSOgold.com] is a growth-oriented company exploring precious metals production around the world. In addition to gold, GTSO pursues the acquisition of rare earths and emerging clean technology innovations. To learn more, please visit our website at www.GTSOgold.com/investors.
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