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El Capitan Precious Metals Announces Agreement for Sale of 600,000 Metric Tons of Head Ore
El Capitan Precious Metals Announces Agreement for Sale of 600,000 Metric Tons of Head Ore.
About this update from El Capitan Precious Metals Inc
[{"type":"text","content":"\n \n El Capitan Precious Metals, Inc., (OTCQB: ECPN) announced today that it \n has reached an agreement in principle on the terms and conditions \n for the sale of 600,000 metric tons of head ore. This agreement is an \n annual agreement with options to renew for five additional years. \n Finalization and publication of this agreement are subject to certain \n conditions, the most significant of which is that El Capitan \n successfully repeats the recovery demonstration of the precious metals, \n consistent with results of the recently completed demonstration.\n \n \n The agreement also provides that title to the ore will transfer to the \n buyer at the mine site once it is loaded into the transport vehicles \n provided by the buyer. Prepayment will be provided for all ore \n transfers. The required demonstrations are currently being scheduled for \n this month, thereby satisfying all the conditions that are required of \n El Capitan. Details of the agreement will be disclosed when all \n requirements are met.\n \n \n In support of the demand for El Capitan ore, the Company has recently \n completed the filing of claims on an additional 2,000 acres proximate to \n the current mining operation site. According to John F. Stapleton, \n Chairman and CEO, these new claims had been identified previously by \n Clyde Smith, Ph.D., geologist and El Capitan Director, as valuable to \n the Company’s strategic mining plan.\n \n \n The Company’s 2016 Shareholders’ Meeting is slated for September 28, \n 2016 at The Inn of the Mountain Gods in Ruidoso, New Mexico.\n \n \n About El Capitan Precious Metals, Inc.:El \n Capitan Precious Metals, Inc. is a mining company based in Scottsdale, \n Arizona that is principally engaged in the mining of precious metals and \n other minerals. The Company’s primary asset is its wholly owned \n subsidiary El Capitan, Ltd., an Arizona corporation, which holds the \n 100% equity interest in the El Capitan property located near Capitan, \n New Mexico. www.elcapitanpmi.com\n \n \n Forward-Looking Safe Harbor Statement:The statements included in \n this press release concerning predictions of economic performance and \n management’s plans and objectives constitute forward-looking statements \n made pursuant to the safe harbor provisions of Section 21E of the \n Securities Exchange A...