AUSTIN, Texas, Feb. 4, 2013 /PRNewswire/ -- Buyer Group International, Inc. (OTCPINK: BYRG) ("BYRG" or the "Company") today announced it has received Letter of Interest for joint development of projects in Indonesia from business development organization Indonesia Chamber of Commerce and Industry (KADIN).
Company information available at: http://www.byrg.org
"We are excited to be moving into this accelerated phase of business development. The indication in writing by the chamber to establish a joint venture and provide exclusive support through their organization is a capstone for our business development strategy," said BYRG CEO Dave Bryant. He further stated, "Indications are that KADIN wishes to be the sole regional supporter for Buyer Group International. This is a testament to the fundamental strength of our approach to business development and capitalization in the region. The projects they have indicated support for is focused towards mineral benefication including shelter, infrastructure, energy, and financial and capital services development exported by our organization to assist their government with providing job programs."
Some of the lands that will be considered for development include areas from the mineral rich Sumbawa district, consisting of three groups with indicated showings. Area of 15 Hectares (Ha), has two confirmed areas with sampling showing .36 gr/t of Au, 120 gr/t of Ag, 5.05 Ha including 35 samples, 23 rock surface samples, showing 13.8 gr/t Au, 15.5 gr/t Ag, and 183 ppm of Mo, and finally, 31.25 Ha with 3000m of trending copper gold with values showing 879 gr/t of Cu, 4.13 gr/t Au, 19 gr/t Ag, plus .93% Zn, and 5.53% Pb.BYRG and its advisors believe that strategic development of mineral rich lands will give the shareholders the best long term returns of any industry including government and municipal investment. Completion of the proposed transactions are dependent upon important contingencies, including BYRG obtaining financing and guarantees, of which there is no assurance.