El Capitan Precious Metals Consummates Sale of Hyper-Concentrates and Completes Pilot Plant Operations
El Capitan Precious Metals Inc., (OTCQB: ECPN) announced today that it has entered into an agreement with a refiner that will buy, refine, and sell the hyper-concentrates generated by the pilot plant. This agreement is evidence of the Company’s continued focus on the guidance set forth at the July 2017 Shareholder Informational Meeting: to process all of the remaining hyper-concentrates at the pilot plant site and generate revenue for the Company.
According to El Capitan Chairman and CEO John F Stapleton, the Company’s path to accomplishing these goals was to identify a refiner with the capacity and technology to handle El Capitan concentrates in the quantities required and in a timely manner. The refiner with which the Company has contracted has tested the El Capitan product and followed the Company’s instructions in smelting. That refiner has generated results that make it economically feasible, for both the Company and the refiner, to process the remaining concentrates.
The Company confirmed that it is under a confidentiality agreement with the refiner and cannot release the details of the processing program and agreement. However, when financial results are realized, that information will be published. The Company also reported that the refiner has spent a significant amount of time with our contract miner, both at the pilot plant and at the mine site. The refiner’s recently completed test has given the Company assurance of its ability to recover the precious metals.
“With the successful operations at the pilot plant, we’ve made rapid progress in finalizing this agreement,” Stapleton said, “and the El Capitan board and I remain committed to increased frequency of communications and the release of information on newsworthy events as they occur.”
The Company is planning an Annual Meeting in late March 2018 and will publish details early in the new year.
About El Capitan Precious Metals, Inc.:
El Capitan Precious Metals Inc. is an exploration stage company (as defined by the Securities and Exchange Commission’s Industry Guide 7) based in Scottsdale, Arizona that is principally engaged in the exploration of precious metals and other minerals. The Company’s primary asset is its wholly owned subsidiary El Capitan, Ltd., an Arizona corporation, which holds the 100% equity interest in the El Capitan property located near Capitan, New Mexico. www.elcapitanpmi.com
Forward-Looking Safe Harbor Statement:
The statements included in this press release concerning predictions of economic performance and management’s plans and objectives constitute forward-looking statements made pursuant to the safe harbor provisions of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended. Forward-looking statements are statements that are not historical facts. Words such as “expect(s),” “feel(s),” “believe(s),” “will,” “may,” “anticipate(s)” and similar expressions are intended to identify forward-looking statements. These statements include, but are not limited to, statements regarding the expected completion, timing and results of metallurgical testing, interpretation of drill results, the geology, grade and continuity of mineral deposits, results of initial feasibility, pre-feasibility and feasibility studies and expectations with respect to the engaging in strategic transactions. All of such statements are subject to risks and uncertainties, many of which are difficult to predict and generally beyond the control of the Company, that could cause actual results to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. Specifically, there can be no assurance regarding the timing and terms of any transaction involving the Company or its El Capitan property, or that such a transaction will be completed at all. In addition, there can be no assurance that periodic updates to the
Company’s geological technical reports will support the Company’s prior claims regarding the metallurgical value and make-up of the ore on the New Mexico property. Additional risks and uncertainties affecting the Company include, but are not limited to, the possibility that future exploration, development, testing or mining results will not be consistent with past results and/or the Company’s expectations; discrepancies between different types of testing methods, some or all of which may not be industry standard; the ability to mine precious and other minerals on a cost effective basis; the Company’s ability to successfully complete contracts for the sale of its products; fluctuations in world market prices for the Company’s products; the Company’s ability to obtain and maintain regulatory approvals; the Company’s ability to obtain financing for continued operations and/or the commencement of mining activities on satisfactory terms; the Company’s ability to enter into and meet all the conditions to consummate contracts to sell its mining properties that it chooses to list for sale; and other risks and uncertainties described in the Company’s filings from time to time with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements that speak only as of the date hereof, and we do not undertake any obligation to revise and disseminate forward-looking statements to reflect events or circumstances after the date hereof, or to reflect the occurrence of or non-occurrence of any events.
View source version on businesswire.com: http://www.businesswire.com/news/home/20171208005124/en/
Contact
El Capitan Precious Metals Inc.
Steve Antol, 928-515-1942