SCOTTSDALE, Ariz.--(BUSINESS WIRE)--El Capitan Precious Metals, Inc. (OTCQB: ECPN) announced today that it will hold its Shareholder Meeting in June of this year. The scheduling change, from March to June, was made to accommodate the Company’s plan to present an expanded meeting agenda that will be supported by detailed operations and revenue updates.
El Capitan Board Chairman John F. Stapleton cited the impact of El Nino and unusual weather conditions on both site operations and ore shipments. He said that the weather system threatens to continue delivering heavier-than-normal snowfall that is expected to affect mining operations and, by extension, cash flow projections. The Company’s plan has been revised to accommodate the fact that shipping, over the next several weeks, may not be possible.
As announced in recent weeks, the Company has entered into agreements to sell both iron ore and precious metals concentrates. To date, the Company has mined and stockpiled approximately 100,000 tons of head ore for processing and shipping as soon as weather conditions permit. In addition, the Company has shipped 15 tons of precious metals concentrates to be used in testing and in the preparation of final processing protocols.
“A June Shareholder Meeting,” said Stapleton, “will enable us to gather product information from operations and prepare a video presentation of physical site operations as well as deliver specifics on the positive cash flow that is expected to result from the sale of iron ore and precious metals concentrates over the next several months.”
Chuck Mottley, El Capitan President and CEO, believes that the revised timing on this meeting will afford the Company the opportunity to plan and execute a results-oriented agenda that will proactively address topics that are important to El Capitan shareholders.
The El Capitan Shareholder Meeting will be held in Scottsdale, Arizona, on Tuesday, June 21 at the Gainey Ranch Golf Club. The meeting is scheduled to begin at 10:00 a.m. local time.
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.