El Capitan Realizes First-Ever Revenue from Sale of Precious MetalsSource: Business Wire
According to John F Stapleton, Chairman and CEO, this initial
transaction established the procedures and protocol for future shipments
and payments that will continue throughout the year. Revenue from the
initial shipment will be realized in the quarter ending
The metal bar shipped to the refinery was found to contain the following elements by weight:
The Company also announced that, in addition to this first payment, it has sent a second shipment of larger quantity in the form of precious metals bars to the same refinery for processing. The Company will continue to process precious metals concentrates from its ore and expects each successive shipment to be larger in size until maximum capacity for the pilot plant is reached.
Stapleton reported that management is very enthusiastic about the Company becoming a revenue-generating mining operation, having transitioned from an exploration company less than one year ago.
A description of the major steps in this process will be the focus of
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
El Capitan Precious Metals, Inc.
Steve Antol, 928.515.1942