SCOTTSDALE, Ariz.--(BUSINESS WIRE)--El Capitan Precious Metals, Inc., (OTCQB: ECPN) reported today that the AuraSource II machine that will process its concentrates is fully operational at the planned capacity. The machine has been modified to accommodate U.S. power source requirements and enhanced to increase throughput for the final processing of El Capitan concentrates.
“Most important,” according to John F. Stapleton, El Capitan Chairman and CEO, “is the news that initial shipments of the fully processed precious metals product have been sent to prospective buyers to determine pricing for the on-going sale of the material.”
Stapleton also confirmed that, for the Quarter ending March 31, the Company has completed an agreement with the U.S. Forest Service for the use of the Right of Way with facility to support commercial production. A copy of that agreement is published on the Company’s website. The remaining requirement in support of the agreement is the installation of Jersey barriers on specified parts of the road. Those barriers have been ordered and are being delivered for installation.
As reported earlier this year, the pilot processing-plant operations represent the central resource in the Company’s ability to take its precious metals to market and thereby achieve positive cash flow. Stapleton and the Company anticipate several announcements and updates over the coming weeks, all of which will move forward its agenda for revenue generation and enhancement of the asset value of the New Mexico property.
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.