Business
Sale of Iron Ore and Precious Metals Concentrates Generates Operating Cash Flow for El Capitan Precious Metals
Sale of Iron Ore and Precious Metals Concentrates Generates Operating Cash Flow for El Capitan Precious Metals.
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 realized the first payment on a large purchase order for the sale of \n high-quality iron ore. This revenue represents the beginning of what \n Company officials believe will be an on-going revenue stream—and this \n operating cash flow, in effect, transitions the Company from an \n exploration company to a mining operations company.\n \n \n ECPN President and CEO, Chuck Mottley, reported that the complete mining \n system that is now in place and operational at the New Mexico mine site \n has created two product lines: high-quality iron ore for use in \n construction and precious metals concentrates for smelting.\n \n \n In addition to iron ore production and sales, and simultaneously, \n high-value precious metals concentrates are being processed by the \n Company’s AuraSource heavy-metals separation system at the mine \n site. The precious-metals-rich concentrates will be offered at \n competitive prices to previously identified prospective buyers. This is \n a positive revision to and expansion of our business plan that is based \n on both iron ore and precious metals sales.\n \n \n According to ECPN Board Chairman John F. Stapleton, “The iron ore \n revenues not only cover the costs of mining and crushing operations, but \n provide stability and positive cash flow for the Company.”\n \n \n Mottley added that this revenue generation represents “a major milestone \n in the decades-long history of the El Capitan property” and that these \n accomplishments are “examples of the Company achieving its established \n goals despite the challenges of the current international economy and \n mining climate.”\n \n \n Photos of on-site operations and a video of mining and crushing \n operations can be viewed on the ECPN website: www.elcapitanpmi.com\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...