El Capitan Precious Metals Announces Contract with Logistica US Terminals for Mining Operations & Logistics to Support Iron-O...
March 03 2014 - 7:15AM
Business Wire
El Capitan Precious Metals, Inc. (OTCBB:ECPN) announced today
that the Company has reached an agreement with Logistica US
Terminals LLC. The contract, which is the first of several
contracts with high-profile mining industry companies, supports the
New Mexico mining operation plan announced by the Company several
months ago and represents another tactical initiative to support
the sale of the El Capitan property.
Under the terms of the Master Service Agreement, Logistica US
Terminals, a Texas-based Limited Liability Company and member of
LIT Group network, will finance and operate the mining of iron ore
at the El Capitan mine and provide ECPN with a turnkey solution
that also includes shipment of the iron ore to ports where buyers
will take delivery.
“This new contract with Logistica is a significant and pivotal
milestone in the 30-year history of the El Capitan property,” said
John F. Stapleton, Chairman of the ECPN Board of Directors, in a
statement released to shareholders today. “In capturing the
attention—and contract commitment—of a powerhouse in the mining
industry we have taken a huge step forward in delivering on our
strategic plan for the sale of the property,” he added. Logistica
has strategic alliances with U.S. and foreign companies to develop
turnkey logistical solutions for international transportation and
supply chain management.
ECPN President and CEO Chuck Mottley stressed the fact that, for
many years, the “Company’s forward motion has been complicated by
the presence of iron in the El Capitan ore.” He continued: “In
turning that challenge into an opportunity we have delivered a
contract with a world-class mining and logistics company and have
identified buyers for our high-quality iron ore.”
Mottley confirmed that the Company will use its minimal impact
mining permit. The permit that the Company holds can, within
limits, be modified as the iron ore mining plan dictates and
reclamation work justifies.
Stapleton reported that the Company’s investment banker has been
kept abreast of this major development and that the pending sale of
iron ore from the El Capitan site will provide revenue that will
both fund operations and generate positive cash flow. The Company
plans to retain the tailings for future disposition.
In restating the Company’s primary objective—the sale of the El
Capitan property—Stapleton summarized that today’s announcement
represents a major turning point for ECPN and “validates the
compelling and profitable value proposition the Company’s
investment banker will take to the marketplace.”
About El Capitan Precious Metals,
Inc.:
El Capitan Precious Metals, Inc. is an exploration stage
precious minerals company 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
About Logistica US Terminals
LLC:
Logistica US Terminals, LLC is a Texas Limited Liability Company
and member of LIT Group network that handles multiple large scale
intermodal and multimodal shipping assignments via its logistics
and all transloading network in Mexico and USA, infrastructure as
rail lines, warehousing, diversified truck fleet, 3PL services,
NVOCC services, packing, material handling, loading, unloading
services and bonded services. Logistica US has developed strategic
alliances with U.S. and foreign companies to develop turnkey
logistical solutions for international transportation and supply
chain management. www.youtube.com/watch?v=PDE4n9V3J8o
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.
El Capitan Precious Metals, Inc.Frank Capilla, Investor
Relations480-440-1449
El Capitan Precious Metals (CE) (USOTC:ECPN)
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