Business
A.I.S. Resources Completes Peru Manganese Trade, Zambian Ores Assay 53% Mn
VANCOUVER, British Columbia, Jan. 29, 2020 (GLOBE NEWSWIRE) -- A.I.S. Resources Limited (TSX-V – AIS, OTCQB: AISSF) (the “Company” or “AIS”) announces that it h
About this update from Ais Resources Ltd
[{"type":"text","content":" VANCOUVER, British Columbia, Jan. 29, 2020 (GLOBE NEWSWIRE) -- A.I.S. Resources Limited (TSX-V – AIS, OTCQB: AISSF) (the “Company” or “AIS”) announces that it has received payment for the first 292 DMT (“dry metric tonnes”) of Manganese fines sold in November 2019. There was no discrepancy between the China Import Quarantine (“CIQ”) and Veritas Peru certificate of chemical analysis. The buyer paid the benchmark price of US$3.70 per DMTU and the final grade was 42.75% Mn. AIS has sourced very high quality manganese from its Zambian supplier which will be sold on a CIF basis from Dar Es Salaam Port in Tanzania. The ore was independently assayed by our Chinese buyer with an assay of 53.66% Mn with low iron, silica and aluminum. We will move to contracts after the Chinese new year. We have 1,000 tonnes of 42% manganese fines ready for sale in Peru and we have negotiated an acceptable price for 30,000 tonnes of 42% Mn from Brazil. We have sent term sheets to a number of buyers we have been communicating with. About AIS Resources A.I.S. Resources Ltd. is a TSX-V listed investment issuer that is managed by experienced, highly qualified professionals who have a long track record of success in lithium exploration and production, manganese trading, gold exploration and production and capital markets. Through their extensive business and mining networks, they identify and develop projects worldwide that have strong potential for growth and near term income with the objective of providing significant returns for shareholders. The Company's current activities are focused on trading of manganese ores from Peru, Zambia and Brazil and exploration and development of gold projects in Peru and North America. On Behalf of the Board of Directors, A.I.S. Resources Limited Phillip Thomas President and CEO Contact Phillip Thomas - President and CEOE: [email protected]: www.aisresources.com Martyn ElementChairmanT: 604 687-6820E: [email protected] ADVISORY: This press release contains forward-looking statements. More particularly, this press release contains statements concerning the anticipated use of the proceeds of the Private Placement. Although the Corporation believes that the expectations reflected in these forward-looking statements are reasonable, undue reliance should not be plac...