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Centurion Receives Purchase Orders for 3,000 Tonnes of Agri-Gypsum Material; Closes First Tranche Financing
Vancouver, British Columbia--(Newsfile Corp. - May 11, 2017) - Centurion Minerals Ltd. (TSXV: ...
About this update from Centurion Minerals Ltd.
[{"type":"text","content":"Centurion Receives Purchase Orders for 3,000 Tonnes of Agri-Gypsum Material; Closes First Tranche FinancingVancouver, British Columbia--(Newsfile Corp. - May 11, 2017) - Centurion Minerals Ltd. (TSXV: CTN) (\"Centurion\", or the \"Company\") is pleased to announce that it has received purchase orders from three fertilizer distributors, two of which are under existing contract, for a minimum of 3,000 tonnes of agri-gypsum material to be delivered in May. The Company's Ana Sofia, agri-gypsum plant in Argentina, has been operating at minimal levels over the past two months. Until recently, its distributors have not been able to generate sales due to extreme flooding and wet weather conditions. Since early February, Argentina has experienced unusual weather events that have caused flooding and mudslides resulting in significant delays to crop harvesting across many agricultural regions. On April 12, 2017 it was reported by Investing.com (https://www.investing.com/analysis/technical-analysis-c-soybm-:-2017-04-12-200182434) that Argentina had harvested less than 6% of its soybean crop, which, in an average year would have by then been harvested, re-fertilized and re-seeded. Following recent meetings in Argentina with a number of fertilizer distributors, Centurion CFO, Jeremy Wright, comments; \"The distributors and farmers have been as frustrated as Centurion's operating team with the unusually wet conditions and resultant significant slowdown in sales and delivery of all fertilizer products.\" Several Argentine agronomists and distributors have reported (http://www.centurionminerals.com/s/ThirdPartyResources.asp) that as the fields dry, the soils will be subjected to an undesired increase in salinity levels. As a result, demand for agri-gypsum materials and other fertilizers should increase as extensive applications of these products will be required to return the soils composition to balanced levels.Commenting today from Centurion's operation's office in Buenos Aires, David Tafel, President and CEO, remarked; \"Centurion management and its local partner anticipate ramping up to plant design capacity very shortly as weather conditions normalize and the current 2,000 tonne stockpile of raw and finished goods is sold and delivered.\" Private Placement ClosingCenturion announces it has closed a first tranche of its previously announced ...