By: Matt Rego
El Capitan Precious Metals Inc. (OTCQB: ECPN) engages in the exploration of precious metals and minerals around Capitan, New Mexico. The exploration company holds 4 patented claims, which span 77.5 acres and 12 lode claims that cover 240 acres. El Capitan Precious Metals Inc. (OTCQB: ECPN) is seeing shares rally 45% during early trading on Tuesday, August 9, 2016. Over the past three months, the mining exploration company has seen average daily volume of around 624,000 shares. However, over 558,000 shares or dollar volume of $78,120 has already exchanged hands during early trading Tuesday.
The big news out today from El Capitan Precious Metals Inc. (OTCQB: ECPN) is the company’s announcement that they will be shaking up their management team in order to become more transaction-focused and able to capitalize on opportunities, agreements, and negotiations. The current chairman of the board of directors, John Stapleton will continue on as Chairman and will take on additional roles of CEO and President, in order to become the “single point of focus to address the potential transactions” for the company. Here is the press release detailing of the management shakedown:
El Capitan Precious Metals, Inc. (OTCQB: ECPN) Press Release:
SCOTTSDALE, Ariz.–(BUSINESS WIRE)–El Capitan Precious Metals, Inc., (ECPN) announced today that the Company has reorganized its management team to be highly transaction focused in anticipation of current opportunities, negotiations, and agreements.
John F. Stapleton, the current Chairman of the Board of Directors, will continue as Chairman and assume the roles of Chief Executive Officer and President to create a single point of focus to address the potential transactions with which the Company is currently engaged. Stapleton is working in close support to David Davidson who leads mining and recovery operations for El Capitan. Arly Richau, General Counsel, will drive the contracting activity. Steve Antol, as Chief Financial Officer, continues to support the financial analysis, as well as public filings and reporting. Each of these team members understands the operating targets and the role each needs to play in order to close a transaction.
The Company is relying heavily on an extremely talented Board of Directors. Clyde Smith, PhD, the geology expert on the property, will provide his expertise and knowledge of the property derived from his work on the original and the updated 43-101 reports. Tim Gay offers years of experience in the world of large equity transactions and corporate governance. Our newest director, Danny Martinez, has worked with our New Mexico-based counsel and has experience in dealing with leased and patented land. We have needed and sought this specific expertise and know that it will be invaluable in executing the transactions the Company anticipates.
Chuck Mottley, after many years of leading the operations of the Company, will become President, Emeritus. He will remain on the board and continue to contribute by promoting the Company through his extensive contacts in the mining industry. “This run to the goal line is a team effort,” said Stapleton, “with each of us employing our specific skills and experience in support of each other, the Company, and its shareholders.”
The Company is currently involved in the late stages of negotiations and expects to announce its first major transaction prior to the Shareholders’ Meeting on September 28, 2016 at The Inn of the Mountain Gods in Ruidoso, New Mexico.
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.