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Amarium Completes US$8.75 Million Copper Stream Sale Agreement
Amarium Completes US$8.75 Million Copper Stream Sale Agreement.
About this update from Calissio Resources Group Inc
[{"type":"text","content":"\n\n\n\n\n\n\n\nAmarium Completes US$8.75 Million Copper Stream Sale Agreement\n\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:\"0in\";\n}\n\n\n\n\n\n\n\n\n\n\nAmarium Completes US$8.75 Million Copper Stream Sale Agreement\n\nPR Newswire\n\nLAS VEGAS, June 5, 2013\n\n\n\n\n\n\n\nLAS VEGAS, June 5, 2013 /PRNewswire/ -- Amarium Technologies Inc. (PINKSHEETS: AMMG), through its wholly owned subsidiary Amarium Minerals Inc., released today that the Company has executed a Copper Stream Sale Agreement (\"Agreement\") with Anglo-Asia Resource Partners (\"Anglo-Asia\") for US$8.75 million. Under the terms of the Agreement, Anglo-Asia is entitled to 18% of the copper concentrate produced at the Jovita Mill operating in Michoacan, Mexico. Amarium will allocate the sale proceeds from the Agreement to complete the financial obligations outstanding from the Jovita Mine acquisition and the remaining funds will be expended on upgrades and expansion of the existing flotation mill and facilities. \n\n\nThe Agreement entitles Anglo-Asia, a private Hong Kong partnership that is focused on procuring precious and base metals for the Asian market, to 18% of the monthly production at the Jovita Mill. Anglo-Asia will make an initial payment of US$8.75 million to Amarium and on-going payments of US$0.75 per pound of copper produced. If the spot price of copper was to decline below US$2.50 per pound, Anglo-Asia's on-going payment obligations would be reduced to US$0.50 per pound of copper. Additional terms of the Agreement will be released at a later date.\n\n\n\nAdam Carter, President & CEO of Amarium , commented, \"The non-dilutive agreement with Anglo-Asia will allow Amarium to rapidly expand its existing production facilities at Jovita and engage in an exploration program on the property that defines our high-grade copper resource. Anglo-Asia is the perfect partner for us to advance our business plans, as they are extensively integrated in the Mainland China and Southeast Asia metals markets. Our primary goal now is to maximize throughput at the Jovita Mill and, with...