El Capitan Precious Metals, Inc. (OTCQB: ECPN) is engaged as a mining company, which maintains a 100% equity interest in the El Capitan mine in New Mexico. Shares of the precious metal miner are down 8.70%, through early trading on Friday, July 7, 2017. Over the past month, El Capitan Precious Metals, Inc. saw average daily volume of 353,777 shares. However, volume of 228,654 shares or dollar volume of $13,193, has already exchanged hands on the day.
Shares of El Capitan Precious Metals, Inc. is down today, after the company announced that it has completed the first shipment of its precious metals supply agreement to PFL Bullion Consultants. Overall, the contract has a one-year lifespan. Here is the full press release detailing of the precious metals supply agreement:
El Capitan Precious Metals, Inc. Press Release:
El Capitan Precious Metals, Inc. (OTCQB: ECPN) announced today that it has executed an agreement for the sale of precious metals to a U.S.-based refinery through the Canada-based metals broker PFL Bullion Consultants. The one-year contract, against which the Company has already completed the first shipment, is already in effect awaiting final assays and payment.
This news comes on the heels of the Company’s June report that smelting and the production of precious metals in alloy form validated the precious metals content of its concentrates as well as the precious metals recovery process.
The Company also announced details on an Informational Meeting for Shareholders slated for Wednesday, July 26, 2017. The meeting will be held at the Gainey Ranch Golf Club in Scottsdale, Arizona and is scheduled to begin at 10 am. Board Chairman John F Stapleton stated that the agenda for the Informational Meeting will include:
- an update on regulatory activities, including the agreement with the U.S. Forest Service
- an overview of the creation of the pilot processing plant
- operational details related to the pilot plan as an interim processing facility
- details on the smelting of concentrates into saleable metal
- a recap of the sale of El Capital precious metals under the agreement with PFL Bullion Consultants
- a financial report from the quarter closing June 30th
About El Capitan Precious Metals, Inc.:
El Capitan Precious Metals, Inc. is a mining company based in Scottsdale, Arizona that is principally engaged in the mining 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.