Britannia Executes MOU to Distribute 6,000,000 Tons of 'Ready Mined' Iron Ore From Asia
March 18 2014 - 8:52AM
Marketwired
Britannia Executes MOU to Distribute 6,000,000 Tons of 'Ready
Mined' Iron Ore From Asia
Malaysian Iron Ore Producer Explores Exclusive 10 Year
Arrangement With Britannia Mining
NEW YORK, NY--(Marketwired - Mar 18, 2014) - Britannia Mining,
Inc. (OTC Pink: BMIN) (PINKSHEETS: BMIN) (or the Company), the
successor of a merger between UK based mining development company
Britannia Mining Plc and U.S. based Micron Enviro Systems (Former
Symbol: MSVS), announces that it has executed a Memorandum of
Understanding (MOU) with an iron ore producer in Malaysia, and is
positioning to finalize iron ore distribution contracts of over $60
Million. Under the terms of the contract, Elit Mestika Mining will
make available to Britannia 600,000 metric tons (Mt) of iron ore
each year.
"My trip to Malaysia was extremely successful," stated Kenneth
Roberts, CEO of Britannia Mining. "We were able to build a number
of key strategic relationships and secure ample product for our
iron ore supply chain. We are now finalizing a definitive agreement
for 50,000 Mt per month. As the MOU reflects, this supply will be
ongoing and the resulting commodity transactions will provide the
company with a monthly revenue source. Once the price is finalized,
we will be well on the way to closing up financials."
The MOU calls for the parties to complete the commercial aspects
in order to position the definitive agreements. Once complete, the
transaction will infuse product into Britannia's iron ore supply
chain with as much as 6,000,000 metric tons, over the course of the
agreement. The MOU indicates the term will be five (5) years with
an option to extend by five (5) years. Britannia will also be
provided with road transportation and port loading facilities.
With investment dollars proposed by REM Capital, management is
building its financial framework, allowing the company to quickly
transition from MOU to a Definitive Supply Contract within Q2.
Anticipated revenues from immediate cash producing projects such as
this, far exceed the Company's initial conservative
projections.
Mr. Roberts concluded, "While we will remain diligent in our
exploration of both Malawi and the Yukon, ramping up Britannia's
natural resource supply chain greatly strengthens and grows the
Company's financial resources. It is important for us to generate
revenues both in the immediate and near term to ensure both
continuous growth and efficient exploration."
About Britannia
Mining Britannia Mining is a natural resources development
company that is focused on acquiring high quality mineral, mining
and other commodity based projects. The company is committed to
developing revenues by conducting exploration, evaluation and
trading activities. The company's mission is to secure commodities
by developing immediate and near term product pipelines for iron
ore and other natural resources.
Acquisition Focus The company is targeting revenue
producing assets and is currently in negotiations regarding
acquisition and trading of mineral stockpiles.
Exploration Focus The company has been developing a
high grade iron ore project in Malawi and is currently renewing the
Exclusive Prospecting License (EPL) for iron ore over 650 sq km at
Nthale Blantyre. The company is targeting 100 Million Tons (MT)
iron at Nthale Hill (20 sq km).
Britannia Mining has inherited the legacy projects (Gold claims)
of the former Micron Enviro Systems in the Yukon and plans to
conduct sampling on this area.
For more information, please visit www.BritanniaMining.com.
Safe Harbor This
news release contains forward-looking statements. Forward-looking
statements are statements which relate to future events. In some
cases, you can identify forward-looking statements by terminology
such as "may,'' "should,'' "expects,'' "plans,'' "anticipates,''
"believes,'' "estimates,'' "predicts,'' "potential'' or "continue''
or the negative of these terms or other comparable terminology.
These statements are only predictions and involve known and unknown
risks, uncertainties and other factors that may cause our or our
industry's actual results, levels of activity, performance or
achievements to be materially different from any future results,
levels of activity, performance or achievements expressed or
implied by these forward-looking statements. While these
forward-looking statements, and any assumptions upon which they are
based, are made in good faith and reflect our current judgment
regarding the direction of our business, actual results will almost
always vary, sometimes materially, from any estimates, predictions,
projections, assumptions or other future performance suggested
herein. Except as required by applicable law, including the
securities laws of the United States, the Company does not intend
to update any of the forward-looking statements to conform these
statements to actual results. Readers are referred to the sections
entitled "Risk Factors'' in the Company's periodic filings with the
United States Securities and Exchange Commission, which can be
viewed at http://www.SEC.gov. For all details regarding working
interests in all of BMIN's mining prospects or any previous news
releases go to OTC Markets website. You should independently
investigate and fully understand all risks before making investment
decisions.
Contact: Team BMIN (646) 580-1153
www.britanniamining.com