2017 Business Updates

Dec. 8, 2017

El Capitan Precious Metals Consummates Sale of Hyper-Concentrates and Completes Pilot Plant Operations

Scottsdale, Arizona – El Capitan Precious Metals, Inc. (OTC/QB: ECPN) announced today that it has entered into an agreement with a refiner that will buy, refine, and sell the hyper-concentrates generated by the pilot plant. This agreement is evidence of the Company’s continued focus on the guidance set forth at the July 2017 Shareholder Informational Meeting: to process all of the remaining hyper-concentrates at the pilot plant site and generate revenue for the Company.

According to El Capitan Chairman and CEO John F Stapleton, the Company’s path to accomplishing these goals was to identify a refiner with the capacity and technology to handle El Capitan concentrates in the quantities required and in a timely manner. The refiner with which the Company has contracted has tested the El Capitan product and followed the Company’s instructions in smelting. That refiner has generated results that make it economically feasible, for both the Company and the refiner, to process the remaining concentrates.

The Company confirmed that it is under a confidentiality agreement with the refiner and cannot release the details of the processing program and agreement. However, when financial results are realized, that information will be published. The Company also reported that the refiner has spent a significant amount of time with our contract miner, both at the pilot plant and at the mine site. The refiner’s recently completed test has given the Company assurance of its ability to recover the precious metals.

“With the successful operations at the pilot plant, we’ve made rapid progress in finalizing this agreement,” Stapleton said, “and the El Capitan board and I remain committed to increased frequency of communications and the release of information on newsworthy events as they occur.”

The Company is planning an Annual Meeting in late March 2018 and will publish details early in the new year.

Business Updates Dec. 8, 2017 (Business Release PDF)

 

Nov. 9, 2017

El Capitan Precious Metals Expands Board of Directors and Names New Corporate Counsel

Scottsdale, Arizona – El Capitan Precious Metals, Inc. (OTC/QB: ECPN) announced today that the Company’s Board of Directors has been expanded to include two additional positions and named John Balding and Robert Shirk as new Directors. These new appointments expand the Board to seven directors.

In related news, El Capitan Chairman and CEO John F Stapleton confirmed that A. Blair Dunn, Esq. has been named Corporate Counsel. Dunn replaces Arly Richau who stepped down from that position in late October.

Balding and Shirk join current El Capitan Directors Chuck Mottley, Clyde Smith, Tim Gay, and Danny Martinez.

John Balding’s career has run the gamut from data processing and military intelligence to commercial lending. He holds a degree in Mathematics from Southern Oregon University and a Masters in Business Administration from Arizona State University. Among the strengths and experience Balding brings to the El Capitan board is the ability to structure sophisticated financial transactions.

Robert Shirk, an active investor in gold and copper mines and oil wells over the past 35 years, is well-connected in the mining industry in both the United States and Canada. He is a CPA and has served as CFO for an Iowa-based real estate organization for more than 40 years. Shirk’s background includes land development, commercial construction, and operations and he has been involved in the governmental processes related to the purchase and development of raw land.

“Both new directors are welcome addition to a board that has its sights on delivering value for its shareholders,” said Stapleton, “and I know they share the current board’s vision for the future.”

As new Corporate Counsel, Dunn is a founding partner of Western Agriculture, Resource and Business Advocates, LLP. He has served as the General Counsel and Director of Agricultural Policy for the South Dakota Department of Agriculture, as well as the Chief Legal Counsel for the New Mexico water rights brokerage firm of WaterBank. Stapleton believes that Dunn’s professional and personal background is especially well suited for his new role as Corporate Counsel — having grown up on farms and ranches in Southern New Mexico and holding an undergraduate degree in Geology — and that he, like the new directors, will play a key role as the Company moves forward with initiatives to enhance the opportunities in front of it.

Stapleton acknowledged Richau for his contributions in helping the Company achieve significant milestones in the past years.

Stapleton also announced that a Finance/Audit Committee has been formed, chaired by Tim Gay. Committee members include Shirk and Company CFO Steve Antol.

Business Updates Nov. 9, 2017 (Business Release PDF)

 

Oct. 17, 2017

In response to questions, the Company posts the following information:

Scottsdale, Arizona – El Capitan Precious Metals, Inc. (OTC/QB: ECPN). In an effort to clarify the use of the word copper as used in the most recent Business Update posted on September 30, the Company offers this additional information:

When the Company melted the platinum ingot, initially, it contained too much iron as well as other minerals. Johnson Matthey had instructed ECPN to remove certain elements and re-melt the platinum ingot into a 1-kilogram (kg) Minimum Copper ingot. ECPN complied by utilizing its own copper. The use of copper as a collector is a process, used industrywide, when processing platinum.

Sept. 30, 2017

El Capitan Ships Copper-Platinum Ingot to Johnson Matthey

Scottsdale, Arizona – El Capitan Precious Metals, Inc. (OTC/QB: ECPN) reports that it shipped a 3.5-pound copper-platinum ingot to Johnson Matthey, the largest global full-service refiner of precious metals with almost 200 years of experience in the recycling and management of these valuable materials.

Johnson Matthey has confirmed receipt of the ingot and El Capitan has set up an account with Johnson Matthey for additional ingots.

Once the value of the initial ingot is determined, the Company will communicate that information. Based upon the fact that Johnson Matthey is in possession of the ingot, that revenue will be recognized in the fiscal year closing September 30.

Business Updates Sept. 30, 2017 (Business Release PDF)

 

Sept. 26, 2017

El Capitan Reports Consistent Recovery of Precious Metals

Scottsdale, Arizona – El Capitan Precious Metals, Inc. (OTC/QB: ECPN) reports that it has received a payment of $10,665 for the gold, silver and platinum recovered from second pilot shipment from the refinery. Of the precious metals recovered, 65% is gold, 20% is silver and 15% is platinum. The results from the first two shipments, both proportionally similar, give the Company the confidence to prepare to refine the remaining highly concentrated material in significantly larger batches. This will be done under the Pilot program continuing into Fiscal 2018.

Business Updates Sept. 26, 2017 (Business Release PDF)

 

August 22, 2017

El Capitan Reports First Revenues from Precious Metals Sales and Pilot Scalability Plan for 2017

Scottsdale, Arizona – El Capitan Precious Metals, Inc. (OTC/QB: ECPN) confirms that it received its first payment on the sale of precious metals extracted from El Capitan ore in June of this year from a domestic precious metals refinery. The Company has since dispatched a second shipment of precious metal alloy bars to the refinery for processing and payment.

According to John F Stapleton, Chairman and CEO, the first shipment—weighing slightly over four pounds—was a key step in establishing protocols and procedures that will be implemented in future, larger translations. The second shipment of precious metal alloy bars had a total weight of approximately 13.5 pounds, or about three times the weight of the first shipment.

From the first alloy bar shipment, the refinery recovered gold, silver, and platinum, which represented approximately six percent of the total weight of the bar. For these precious metals, El Capitan was paid approximately $3,600, or approximately $900 for each pound of the concentrated metal alloy. Stapleton stresses that it is important to note that the bar also contained iridium and osmium and that, on the first shipment, the Company was not paid for the iridium and the osmium. That is expected to change, he stated, related to future shipments on which the refiner would pay for all precious metals in the alloy bars.

The Company estimates that, if it has been paid for the iridium and osmium metals in the first shipment, the percent of total weight subject to payment would have been 10 percent (versus six) with an added payment of $1,400, bringing the total payment to approximately $5,000.

“The bottom line,” said Stapleton,” is that the financial elements of the initial transaction calculate to and demonstrate that, had El Capitan been paid for all the precious metals in the bar, it would have received approximately $1,250 for each pound of precious metals concentrates that it produced and sold.”

Based upon one ton of precious metals concentrates, which would weigh 2,000 pounds, this would calculate to a payment of approximately $2,500,000.

Stapleton added that, while the Company, under contact terms, has not yet received payment on the second shipment of alloy bars, it has been informed that it will receive payment for all precious metals—gold, silver, platinum, iridium, and osmium—in the metal alloy bars in the second transaction and in subsequent shipments.

The Company expects its third shipment to be approximately 500 pounds of precious metals concentrates and that material is being prepared for shipment.

Stapleton stressed that in developing new methods of extracting precious metals, the process requires that the Company start with a small run which would increase incrementally with each successive run and shipment, assuring that the process and results remain consistent with increasingly large amounts of material or, alternatively, making the necessary adjustments. “That is exactly the purpose of a Pilot Operation,” said Stapleton, “and the incremental ramp up has proven to be successful.”

As announced at the July Shareholders’ Informational Meeting, once the larger shipments consistently prove to produce the same level of results, El Capitan expects to arrange for its ore to be concentrated and its precious metals to be recovered in much larger quantities in a Production Operation. Planning and discussions are already taking place to support this transition.

Company management is very confident of the attractiveness of these recovery methods, their cost-effectiveness, and their scalability.

Business Updates Aug. 22, 2017 (Business Release PDF)

 

August 8, 2018

El Capitan Announces July Sales and Shipments of Precious Metals

Scottsdale, Arizona – El Capitan Precious Metals, Inc. (OTC/QB: ECPN) announced today that in the month of July it has shipped a total of 13.5875 pounds of El Capitan precious metals recovered from its El Capitan mine site to a U.S.-based refinery. August shipments are on schedule and the Company will report both the recovery details as well as the dollar value of July shipments within the next 45 days.

According to John F Stapleton, Chairman and CEO, revenue from the initial June shipment will be realized in the quarter ending June 30, 2017 and the Company will continue to process precious metals from its concentrates.

As reported at the July 26, 2017 Shareholders’ Informational Meeting, the Company continues work in anticipation of additional mining and transport work later this year. Road improvements to support future needs and plans as well as agreements with the U.S. Forest Service are in progress and work on installation of the Jersey barriers has been completed. Photos documenting these barriers can be viewed on this page. Click photos to view full size.

Business Updates August 8, 2017 (Business Release PDF)

 

July 26, 2017

Shareholders’ Informational Meeting is being held today

A Shareholders’ Informational Meeting is being held today in Scottsdale, Arizona.
View information that will be presented below, or here is a link to the information that will be presented: