On Wednesday, there were a number of companies that had come into the news cycle owing to significant announcements, and one such company was HIRU Corporation (OTC:HIRU). The company provided key updates on its entry into a major new project, and it could be a good idea for investors to consider taking a closer look into it. HIRU Corporation announced yesterday that it had completed the acquisition of a major gold mine in West Africa.
The initiative from the company marked a major step in its aim to build partnerships with central banks and important stakeholders in Africa in the task of gold procurement. The company also noted that its Chief Operating Officer, who had been recently appointed, was an affiliate of the West Africa-based project. Another significant step from the company was the establishment of a regional office located in Dubai to oversee its mining projects and other projects on which HIRU Corporation may operate as joint ventures. In the news release, it was further noted that it would release more detailed updates in separate filings and press releases in the future.
Other than that, the other important aim of the Dubai-based venture would be to procure gold from different central banks and verified sellers based on the African continent. Such a strategy would help the company meet its strategic goal of profitability in the business of re-selling gold in the dynamic Dubai market.
The company would look to make this operation a success by buying gold at competitive prices, deploying efficient transportation methods, and also through all important licensing agreements. The company noted that it planned to procure the gold from the London Metal Exchange at world prices, which would ensure its competitiveness since it would enable the company to offer the gold at a 15% discount.
