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El Capitan Precious Metals Prepares for Shareholder Meeting with News and Updates to Shareholders
El Capitan Precious Metals Prepares for Shareholder Meeting with News and Updates to Shareholders.
About this update from El Capitan Precious Metals Inc
[{"type":"text","content":"\n \n El Capitan Precious Metals, Inc., (OTCQB: ECPN) through its transfer \n agent, disseminated the following letter from Chief Executive Officer \n and Board Chairman John F. Stapleton to its shareholders today. As \n previously announced, the Company Shareholders’ Meeting will be held on \n September 28, 2016 at The Inn of the Mountain Gods in Ruidoso, New \n Mexico.\n \n \n Dear El Capitan Precious Metals Shareholder:\n \n \n It is a pleasure to report on our mining consortium’s progress, \n successes, and the status of our negotiations with a major international \n buyer.\n \n \n This year is already a record-setting year for El Capitan Precious \n Metals, Inc. The Company has mined and performed primary crushing of \n more than 100,000 tons of head ore producing precious metals \n concentrates for processing. The same concentrates have successfully \n been further crushed and refined into 88-90% pure precious metals which \n when completely processed by a refinery yields 99% pure precious metals.\n \n \n This successful recovery of precious metals from El Capitan concentrates \n has been demonstrated to several international buyers. The Company is \n now in late-stage contracting with one of these buyers for the purchase \n of concentrates over the next 12 months, FOB the mine, at a purchase \n price of more than $180 million. This contract is expected to be fully \n executed in less than 60 days.\n \n \n Subsequent to the development of the replicable and scalable recovery \n method, management has been communicating with several prospects. These \n include major mining companies who are interested in joint venture and / \n or acquisition. Our management team has already demonstrated recovery \n from our concentrates to some of these groups and several have visited \n the mine site while others are making arrangements to do so. The \n achievement of these milestones is the result of excellent teamwork and \n great sacrifices on the part of our team.\n \n \n Management has not taken salaries for almost two years and has been able \n to delay payment to our attorneys and other consultants so that the \n Company had the monies it needed to fund the critical mining tasks that \n have been required to deliver the best possible presentation of the \n value of the El Capitan mine to potential buyers. The funds from ...