SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8K
CURRENT REPORT PURSUANT
TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): June 23, 2003
ATLAS MINERALS INC.
(Exact Name of Registrant as Specified in Its Charter)
COLORADO 1-02714 84-1533604
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(State or other jurisdiction of (Commission (I.R.S. Employer
incorporation or organization) File Number) (Identification No.)
Suite 205, 10920 West Alameda Avenue, Lakewood, CO 80226
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: 303-306-0823
NOT APPLICABLE
(Former Name or Former Address, if Changes Since Last Report)
ITEM 5. OTHER EVENTS
See Press Release attached as Exhibit 99.1 hereto.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
ATLAS MINERALS INC.
(Registrant)
Date: July 8, 2003 By /s/ Gary E. Davis
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Gary E. Davis
Corporate Secretary
ATLAS MINERALS INC. NEWS RELEASE
10920 W. Alameda Avenue, Suite 205 03-3
Lakewood, Colorado 80226 OTC Bulletin Board: ATMR
Tel: 303-292-1299 6.0 million shares outstanding
Fax: 303-297-0538 June 23, 2003
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ATLAS ACQUIRES OPTION TO PURCHASE FLUORITE PROPERTY IN MEXICO
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Denver, Colorado - Atlas Minerals Inc. (the "Company") announced today that
through its wholly-owned Mexican subsidiary, Minerales Atlas S.A. de C.V., it
has executed a six-month option to purchase the La Barra fluorite property. The
property is comprised of three claims covering 300 hectares, or approximately
740 acres, and two existing underground mines that were reportedly last mined in
early 1974. At the time the mine was idled, a reserve report prepared by the
owner, Fluoresqueda, S.A., had identified for near-term mining nearly 195,000
tons of ore at an average grade of 46% CaF2. To date the Company has not
independently verified the accuracy of this report, and, as a result, there can
be no assurance that the reported quantity and quality of ore will be available
for mining.
The property is located approximately 50 miles south of Douglas, Arizona, near
Esqueda, Sonora, Mexico. Any new mining operations on the property would be
within 12 miles of both an existing highway and railroad, with direct access by
either means to U.S. markets via Douglas. During prior operations, raw ore was
trucked to Esqueda where it was milled and concentrated for final sale and
distribution. The mill foundations and rail siding remain and will be evaluated
for possible acquisition during the option period.
From observations made by the Company, past mine development is estimated to
have accessed less than 10% of the fluorite deposit, with much of the deposit
remaining open along an apparent 3-kilometer strike length encompassed by the
claims. Assays of material collected by the Company from both the underground
mine workings and existing raw ore stockpiles have tentatively supported the
earlier reported grades, with grades of these select samples running between 80
and 90% CaF2. Currently, the U.S. consumes approximately 600,000 tons of
fluorite per annum. In 2001, all such consumption was from imports, primarily
from China (66%), South Africa (23%) and Mexico (11%).
There are three grades of fluorite -- acid grade (containing more than 97%
CaF2), ceramic grade (85% to 95% CaF2), and metallurgical grade (60% to 85%
CaF2). Nearly 80% of U.S. consumption is for the production of hydrofluoric
acid, primarily in Louisiana and Texas, and aluminium fluoride in Texas. The
2001 average U.S. Gulf import price for acid grade product was approximately
$150 per ton with metallurgical grade averaging $115 per ton FOB millsite in
Tampico, Mexico. Given the apparent high grade of the La Barra fluorite and its
proximity and access to the U.S. Gulf Coast, the Company believes that it could
have a competitive advantage in supplying product to the southern U.S. markets.
According to the Company's President, Gary E. Davis, "we are excited by the
possibility of adding another industrial mineral to complement the Company's
White Cliffs diatomite operation in Arizona. For the last year, we have been
working closely with the Sonoran government in identifying prospective
industrial minerals in the State and have developed a short list of those that
we believe could have near-term potential. During the term of the initial
six-month purchase option on La Barra, the Company will diligently evaluate the
mining claims and existing underground mines, including any purported reserves
available for near-term mining, as well as all aspects of possible future mine
development, milling, product transportation, and end use markets.'" Atlas
Minerals Inc. is principally engaged in the exploration, development and
exploitation of mineral properties and is actively in the process of identifying
new acquisition opportunities in the natural resource sector. Management's
current efforts are being directed toward the identification of possible
acquisition opportunities, primarily in the sectors of industrial minerals, base
metals, and precious metals.
For further information contact Gary E. Davis, President and Chief Financial
Officer, at 303-292-1299 On behalf of Atlas Minerals Inc.
"Gary E. Davis"
President and Chief Financial Officer
The statements contained in this release that are not historical facts are
forward-looking statements under the federal securities law. These
forward-looking statements are no guarantee of future performance, and involve
certain risks, uncertainties and presumptions that are difficult to predict.
Actual outcomes and results may differ materially from what is expressed or
implied by such forward-looking statements. The Company takes no obligation to
update publicly any forward-looking statements, whether as the result of new
information, future events or otherwise. This release is not an offer of
securities for sale in the United States; securities may not be offered or sold
in the United States without registration or an exemption from registration.