Oracle Ridge temporarily suspending Drill Program

Facebooktwittergoogle_plusredditpinterestlinkedinmailby feather

San Manuel Miner

Rumors of the Oracle Ridge Mine closing down have been heard in the community last week. It is not clear where or how the rumors started but it may have been due in part to recent cut backs at the mine. A press release dated April 13, 2014 announcing a corporate strategy update said, “Oracle Mining has temporarily suspended the 2014 Drill Program and rationalized expenditures to manage remaining financial resources while evaluating Third Party Options and continuing to advance permitting.” The update also said, “We have not made a production decision with respect to Oracle Ridge. A decision to proceed with production will be based on the corporation completing a future Feasibility Study demonstrating economic and technical viability.” On June 9, 2014, Lori Lantz, public involvement planner, was asked about the rumors of closure. She said, “In keeping with the strategy, some work at the site has been temporarily scaled back.” She pointed out that the mine has not started up and referred to the latest press releases.

A June 6, 2014 press release announced that Oracle Mining had received additional loan funds from its lender Rich Stone Mining Investment (Hong Kong) limited in the amount of $440,000 (Canadian dollars). To read the complete Oracle Mining Corporate strategy and financial updates or keep up with news regarding Oracle Ridge Mine visit their website at www.oracleminingcorp.com.

John Hernandez (442 Posts)

John Hernandez lives in Oracle. He is retired and enjoys writing and traveling. He is active in the Oracle Historical Society. He covers numerous public events, researches historical features and writes business/artist profiles.


Facebooktwittergoogle_plusredditpinterestlinkedinmailby feather
Facebooktwitterby feather

Comments are closed.

  • Additional Stories

    70-Year-Old Oracle Man Killed in Single Vehicle Incident

    September 29th, 2016
    by

    On Sept. 27, 2016 at about 1:30 p.m., Pinal County Sheriff’s deputies responded to a single-vehicle collision at the intersection of […]


    San Manuel Homecoming set for Friday

    September 29th, 2016
    by

      Late September and early October are when high schools across the United States celebrate Homecoming and San Manuel is […]


    St. Helen Catholic Church Fall Fiesta set for Saturday in Oracle

    September 29th, 2016
    by

      This year’s Fall Fiesta at St. Helen Catholic Church will be on Saturday, Oct. 1, 2016 beginning with the […]


    Ray Homecoming is Friday

    September 29th, 2016
    by

      Ray High School is celebrating Homecoming this week with a variety of activities planned for students and the community. […]


  • Additional Stories

    Homecoming victory! Lobos win third straight game

    September 29th, 2016
    by

      After starting the season with consecutive losses, the Hayden football team has now won three-straight games, the most recent […]


    Arizona Elks presents grant to Kearny Lodge for youth programs

    September 29th, 2016
    by

      On behalf of the Arizona Elks Major Projects, Kearny Lodge #2478 earlier this month received a $1,000 Community Rewards […]


    Oracle, other local agencies train for vehicle accident emergencies

    September 21st, 2016
    by

      To the casual observer, it might have seemed like a demolition derby or wrecking crew had descended upon the […]


    Winkelman to celebrate bridge’s 100th birthday

    September 21st, 2016
    by

      In 1916, Pinal County decided to build a 419 foot long bridge over the Gila River at Winkelman. Since […]


  • Copperarea

  • [Advertisement.]
  • [Advertisement.]
  • Southeast Valley Ledger

  • Arizona Headlines & Current Weather