ECPN Begins Transport of Precious Metals Concentrates
December 16 2014 - 7:15AM
Business Wire
In completing its transition from an exploration company to an
operating mining company, El Capitan Precious Metals, Inc. (OTCBB:
ECPN) has achieved its most significant milestone. The Company
reports that it has begun transport for delivery of its precious
metals concentrates.
After months of meetings with various constituencies, ECPN has
secured its Amended 40-Acre Permit from the Division of Mining and
Minerals of the State of New Mexico. This permit allows the Company
to operate mining activities and remediate the land,
simultaneously.
The Company has also received an Air Quality Permit from the
State of New Mexico and a new five-year Road Permit from the U.S.
Forest Service.
Company representatives have met with the Lincoln County
Commission and have learned that no further local compliance is
required. ECPN is currently in full regulatory compliance with the
U.S. Forest Service, the State of New Mexico, and Lincoln County in
regard to its current mining operations plan at the El Capitan mine
site.
ECPN began transporting precious metals concentrates from the El
Capitan mine site in fulfillment of its contract with a Hong
Kong-based trading company. The Company plans to operate through
the winter months to deliver on that contract. This decision, in
support of the Company’s precious metals mining, provides both
long-term cash flow and profitability for the Company according to
its operating plan. Revenues will be recognized under GAAP
accounting rules when title for the concentrates changes from the
seller to the buyer in Hong Kong.
According to Chuck Mottley, ECPN President and CEO, the Company
is expanding its active mining operations as it continues to pursue
other contracts for the sale of its concentrates.
John F. Stapleton, Chairman of the ECPN Board of Directors,
stated: “Attaining these significant milestones is a fitting
opening to a year of accomplishments and sets the Company up for
building its profitability through 2015.”
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.
El Capitan Precious Metals, Inc.John Stapleton, 480-440-1449
El Capitan Precious Metals (CE) (USOTC:ECPN)
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