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El Capitan Precious Metals Executes Agreement with AuraSource for Sale of 600,000 Metric Tons of Head Ore and Hosts Shareholders at New Mexico Mine Site
El Capitan Precious Metals Executes Agreement with AuraSource for Sale of 600,000 Metric Tons of Head Ore and Hosts Shareholders at New Mexico Mine Site.
About this update from El Capitan Precious Metals Inc
[{"type":"text","content":"\n \n El Capitan Precious Metals, Inc. (OTCQB: ECPN) announced that it has \n executed its agreement with AuraSource, Inc. (OTC Markets: ARAO) for the \n sale of up to 600,000 metric tons of head ore over the next 12 months. \n This agreement, as previously reported, is renewable for five \n additional, one-year terms.\n \n \n The revenue to ECPN would be $180 million per year at a cost of \n approximately $30 per ton for mining and loading. The agreement is \n contingent upon Right of Way road access and AuraSource’s ability to \n secure its buyer and financing for the prepayments to El Capitan. The \n Company is confident it will be able to provide the road access required.\n \n \n At the Shareholders’ Meeting in New Mexico last week, shareholders were \n presented with a description of the precious metals recovery process, \n including samples of the processed precious metals product.\n \n \n The votes of those shareholders present at the meeting and those \n represented by proxy re-elected the entire slate of directors. The \n shareholders also authorized an additional 100 million shares of common \n stock and ratified the appointment of MaloneBailey LLP as the Company’s \n auditors.\n \n \n The Shareholder Meeting included a trip to the mine site and \n approximately 80 shareholders saw, firsthand, the operations, the road, \n and the site that is producing the ore and concentrates. The feedback \n from those who attended the meeting expressed that the meeting was very \n informative.\n \n \n About El Capitan Precious Metals, Inc.:\n \n \n El Capitan Precious Metals, Inc. is a mining company based in \n Scottsdale, Arizona that is principally engaged in the mining of \n precious metals and other minerals. The Company’s primary asset is its \n wholly owned subsidiary El Capitan, Ltd., an Arizona corporation, which \n holds the 100% equity interest in the El Capitan property located near \n Capitan, New Mexico. www.elcapitanpmi.com\n \n \n Forward-Looking Safe Harbor Statement:\n \n \n The statements included in this press release concerning predictions of \n economic performance and management’s plans and objectives constitute \n forward-looking statements made pursuant to the safe harbor provisions \n of Section 21E of the Securities Exchange Act of 1934, as amended, and \n Section 27A of the S...