September 26, 2011
Aid Free Zone Southern Africa, a wholly owned subsidiary of Mineseeker, can today announce revenue figures, now that they have been reviewed by the company’s independent accounting and auditing firm in Inhambane, Mozambique. The certified numbers show revenue for August 2011 of $85,054. Additionally, after reviewing the sales enquiries and pending letters of intent from customers, the auditors also confirmed that the revenue forecast of $4.5m for 2012 was accurate and reasonable in all material respects.
Mr Eric du Plessis, the newly appointed Chief Executive Officer of Aid Free Zone Southern Africa, commented, “This was an impressive performance last month, especially when the management team was focussed on closing the deal with Mineseeker Operations, and these numbers support our forecast of revenues averaging $162,000 per month by the end of 2011, dropping slightly for quarter one of 2012 due to seasonal restrictions.
“We have also been working hard in securing additional supply of raw material for our processing plant, so that we can satisfy demand for next year”, Mr du Plessis continued. “Aid Free Zone Southern Africa has identified and established collection points in the existing plantations near to the factory. In combination with other initiatives, this will give ample raw material to enable the company to deliver revenues of up to $700,000 per month during 2012, and this number is supported by the certified due diligence conducted. This revenue will be from a diversified product portfolio including crude oil, as well as higher valued products such as virgin coconut oil, desiccated coconut and coconut cake. These products are for human and animal consumption as well as used as raw materials in the cosmetics industry, and Aid Free Zone Southern Africa have firm orders and letters of intent that support our revenue forecast for next year”.
Progress continues with negotiations with government representatives for the agricultural and other rights to further blocks of land in the area. In addition to the 1000 ha, shown as Block A above, which is in the process of being allocated, Aid Free Zone Southern Africa is discussing harvest rights on a further 80,000-100,000 hectare block nearby, to ensure supply of raw materials to increase production even further.
Edward Cross, Mineseeker CEO, added; “Perhaps most excitingly of all is the 50,000 hectare block of land, shown as Block B above, that we are in final talks about which will ensure the long term stability of the project. This is where the whole compassionate capitalism concept can be given life. An area of land that can’t be safely lived in or developed due to the threat of landmines will be allocated to us, and we will then conduct a detailed survey of the ground to identify any mines that may be present. Once cleared of the threat, we can secure a 99 year lease on the land. Through our Aid Free Zone division, the agriculture on the land will be developed, so that the local population can support themselves, removing them from poverty and reliance on aid”.
“Not only will the increased production lead to greater revenues for the coconut processing plant, but the land in question borders the coast and we are talking to the Ministry of Tourism about establishing an eco-tourist destination”, Mr Cross continued. “It is a very beautiful, unspoiled area, and with the eco-tourism market growing faster than any other sector in that industry, we expect great returns. Mineseeker is looking to sign a strategic partnership or make an acquisition to strengthen our opportunity in this market”.
About Mineseeker and Aid Free Zone
Using Mineseeker technology increases the land available for the economic benefit of the local population and enables businesses to develop the land for agriculture, tourism, mineral exploration, and construction as applicable.
Following on from its mine survey work, Mineseeker will establish in conjunction with governments and local partnerships, a land based wealth creation program delivering compassionate capitalism for the benefit of all stakeholders.
Aid Free Zones will dramatically change the landscape of the global aid programme by building economically viable communities that do not rely on aid but rather, on support to develop their own businesses by creating a market for products and resources.