Business
El Capitan Precious Metals Announces New and Expanded Partnership with Logistica US Terminals to Sell Precious Metals Concentrates
El Capitan Precious Metals Announces New and Expanded Partnership with Logistica US Terminals to Sell Precious Metals Concentrates.
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 enhanced its relationship with Logistica US through a new agreement \n under which El Capitan will provide to Logistica concentrated ore to \n their specifications at the mine site. Logistica will transport, \n process, and refine the precious metals concentrates to sell to precious \n metals buyers. This agreement is in addition to and complements the \n previously announced agreement for the sale of iron ore for use in \n construction.\n \n \n According to El Capitan Board Chairman John F. Stapleton, the terms of \n both the iron ore agreement and the precious metals concentrates \n agreement eliminate El Capitan’s involvement in the issues of trucking, \n ocean shipping, refining, and the issues related to international \n permits, thus allowing El Capitan to focus on mining and basic \n separation, processing of ore, and remediation.\n \n \n Although market conditions for precious metals and weather-related \n issues will always impact sale prices and schedules, the Company \n anticipates that a more robust relationship with a U.S. company will \n eliminate many of these issues that have hampered the Company’s progress \n related to the sale of El Capitan ore. The terms of the new agreement \n provide for the recovery of hard costs by both parties prior to the \n distribution of profits. The Company expects to begin to realize initial \n revenues from the iron ore sales in this quarter ending March 31, and \n from precious metals concentrates by the following calendar quarter \n ending June 30, of this year.\n \n \n The new agreement, just executed, calls for El Capitan to process and \n separate the precious metals concentrates using the Company’s AuraSource \n system at the mine site. Logistica will take possession of the separated \n concentrates at the site and deliver them to a smelter for final \n processing. The AuraSource heavy metals separation system, purchased by \n the Company in April of 2014, is a state-of-the-art technology that \n separates hematite and magnetite from other ore elements.\n \n \n Stapleton stated, “Logistica has proven to be a reliable and valuable \n partner and we are pleased to have the opportunity to expand and \n strengthen our relationship with a company that is a leader in its fie...