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Pan, As I have pointed out all I have is logic and immense volumes of circumstancial evidence. If the overwhelming logic and evidence I present does not convince an astute investor like you, then how is it going to convince an fbi agent frantically chasing terrorists to drop what he is doing to look into a 2bit mining scam?
And no!! authorities would not have gotten involved a long time ago if ecpn is a scam. How long did Bernie Madoff operate with impunity before finally undone? The obvious scams srch and irld have also operated for years and years with impunity and still do.
Pan, Newmont, Barrick and other mining companies did a thorough tecnical review of el cap in 2005 or before. If there were significant PMs there these companies would have been all over it. Word would have gotten out and in days all available land in the area staked. Didn't happen.
Dec. 11, 2003 The recently completed assays of dore bars smelted from concentrate generated from 4,000 tons of high grade sections of the El Capitan mine ore calculate back to the high graded head ore at 180 to 200 ounces of silver per short ton. these findings are very encouraging and would translate to approximately $1,000 of silver per ton in this high grade ore," stated El Capitan President, Chuck Mottley.
May 13, 2004 El Capitan Precious Metals Inc. President Chuck Mottley stated, "Our preliminary tests on the settlement ponds and tailings at the COD mine show great potential for immediate cash flow. We expect to be in production in the next 30 to 60 days."
July 28, 2004 El Capitan Precious Metals, Inc. (the "Company" or "ECPN") (OTCBB:ECPN) announced today that it has signed a new non-binding letter of intent with Asia Finance Corporation ("AFC") to deliver up to 3 million tons of iron ore per year from a property in the Southwest United States for which the Company recently acquired mining rights.
April 18, 2005 In this second quarter of 2005 we expect to be in production with a positive cash flow from our "high-grade silver" project in Nevada. Originally we planned on operating in Congress, Arizona, but changed to Nevada for logistical reasons. We have five people directly assigned to this project.
Oct. 24, 2005 We are very close to a major event that I believe will make us a major contributor to the future needs of the world. In doing that we will be creating significant value for our faithful and loyal shareholders.
.”
May 12, 2010 El Capitan Precious Metals, Inc. (OTCBB:ECPN) reports: El Capitan has entered into a joint venture agreement with Planet Resource Recovery, Inc, (PRRY.PK) to process approximately 200 tons of concentrate with Planet’s environmentally friendly recovery process (See ECPN press release of April 16, 2010). This concentrate was produced several years ago at the El Capitan property from head ore. The recovered precious metals will be sold and Planet and El Capitan will split the profits.
September 08, 2010 as soon as the Company has completed the development of the recovery processes and assay procedures, along with determining the associated costs, we will be in a position to go forward with the sale of the El Capitan Property.
March 17, 2011 07:15 AM Eastern Daylight Time
SCOTTSDALE, Ariz.--(BUSINESS WIRE)--Chuck Mottley, President and CEO of El Capitan Precious Metals, Inc. (OTCBB:ECPN), has sent the following letter to shareholders:
Dear ECPN Shareholders:
We are making progress in our research and development of the assay and extraction process of the El Capitan Property. ECPN has recently entered into a joint agreement with Wendell and Co. who is the developer of the precious metals assaying and extraction processes we are using. The results from Wendell and Co. on samples taken from the Company’s previous drilling project have been very encouraging.
The thermal decomposition process that Wendell and Co. has developed has exceeded ECPN’s minimum requirement of precious metals recovery and therefore we are moving forward. Wendell and Co. has filed a patent application on the processes in which ECPN owns a 50% interest. These processes have shown great promise on difficult to analyze ores containing gold and platinum group metals in a form often
referred to as “nano molecular particles” and “micro-clusters.”
We believe that the intellectual property that Wendell and Co. developed potentially has very significant commercial value.
June 02, 2011 What remains to be accomplished?
• Finalize the cost of gold, platinum and palladium recovery using the Wendell Method of Alkali Fusion.
• Enter into an agreement with an investment banker to represent the Company for the sale of the property.
• Sell the property.
October 05, 2011 the facts are compelling. The company has an extraordinary asset in the form of a surface minable measured reserve of 141 million tons consisting of 1.2 ounces of gold equivalent or better per ton.
December 27, 2011
It is my personal opinion, after working this past year with chemists and metallurgists, that we have developed a method – using micro-cluster technology – to recover nano particles of gold and silver. The standard method of assaying, using only two or three grams of ore, appears to limit the effect of the silver in attracting the particles of silver and gold in the micro-cluster.
July 10, 2012 In summary, Stapleton stated, “The delivery of these certified assay results to the Investment Banker will meet the remaining requirements for taking the El Capitan property to market.”
October 16, 2012 07:15 AM Eastern Daylight Time
SCOTTSDALE, Ariz.--(BUSINESS WIRE)--El Capitan Precious Metals, Inc. (OTC/BB: ECPN) announced today that the Company has completed a series of tests in Houston, Texas on ultra-concentrated ore procured from 180 tons of material previously concentrated at the El Capitan property, These tests range from 1 pound to 700 pounds of head ore and concentrates.
Chuck Mottley, EPCN CEO, stated: “The results, demonstrated by assay, are as good or better than the previously reported 1.2 OPT gold equivalent achieved in the dore bar sold to Gannon and Scott.”
With the confidence gained from these test runs, it was decided to upgrade the concentration equipment. That equipment upgrade is scheduled to be completed the week of the November 22nd, with production runs commencing immediately thereafter on the concentrates.
The process is expected to run at 2.5 tons per hour and the production on the 180 tons should be complete by the week of November 5th. The “ultra-concentrated” material will be shipped daily to an independent lab for smelting with samples being forwarded to another independent laboratory for assay.
Details of the production runs, including smelt samples and video of the process, will be displayed at the Shareholder’s Informational Meeting in November.
September 25, 2014 announced today that it has reached a final agreement for the sale of precious-metals-rich tailings from the El Capitan mine to a Hong Kong-based trading company. The terms of the agreement were not disclosed, but the Company expects to see positive cash flow in Q1 of its fiscal year, which is Q4 of the 2014 calendar year. sale of precious-metals-rich tailings marks the Company’s transition from an exploration company to an operating mining company.
December 16, 2014 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.
January 14, 2015 El Capitan Precious Metals, Inc. (OTCQB: ECPN) announced its financial outlook for the fiscal year ending September 30, 2015. ECPN expects to book revenue from sales of precious metals concentrates derived from head ore mining in the quarter ending March 31, 2015.
May 11, 2015 today reported that, as a result of a meeting between the ECPN Board of Directors and senior management of Logistica US Terminals LLC, its contract mining partner, the Company is moving forward with a plan that will enable it to meet performance projections announced in March of this year.
June 25, 2015 07:15 AM announced today that it is completing a renegotiated contract for the sale of El Capitan ore to its Hong Kong-based buyer. The most significant point in the revised agreement is an increase in the price per ton that the Chinese buyer will pay for the El Capitan ore. This is based on a higher precious-metals content than previously anticipated in the original contract.
Revenue will be recognized in the quarter beginning July 1, 2015. This is an update to the Company’s earlier guidance.
October 06, 2015 ECPN) announced today that it has realized the first payment on a large purchase order for the sale of high-quality iron ore. This revenue represents the beginning of what Company officials believe will be an on-going revenue stream—and this operating cash flow, in effect, transitions the Company from an exploration company to a mining operations company.
November 19, 2015 ECPN) announced today that it has reached a long-term agreement for the sale of iron ore that will commence in December. It is expected that this new agreement will result in the sale of approximately 45,000 tons of iron ore over the next 12 months.
January 22, 2016 Under its existing permits, El Capitan will commence sales this month, to the extent that weather permits. The plan calls for the rate and size of shipments to increase over the next several months.
Pan, You will be happy to know that ecpn has vast experience in developing numerous sundry magic potions and going into production and producing nothing (see below). So this round of going into production and producing nothing should go off without a hitch. The long line of magic potion gurus includes muttley, arrakis, Auric, wendell the loon, Planet Resources, Perfection engineering and now aurasource and davidson.
And don't you worry none about poor old chuckiepoo or stumbelton going to jail. Nobody went to jail for the blatant Delgratia mining scam. Felderhoff the Bre-X exploration manager didn't spend a day in jail and retired to the Carribean a very rich man.
Stumbelton will act as dumb as he is and point the finger at muttley and get off. When muttley is up for trial he will rave about nano-gremlins stealing his gold and then ask the judge for a private audience. He will whisper in the judges ear "hot tip, there are indications of lithium at el cap you should buy some ecpn shares and get rich". The judge will then slam his gavel a shout "cased dismissed due to the defendants mental incompetence".
Pan, I provided real info on onebeliever because you indicated in a recent post that his advice should be followed when in fact his ecpn advice over more than a decade clearly shows that following his advice results in a quick trip to the poor house.
Regarding your queries regarding minmetals, they are an international mining, smelting, refining and metal trading company. As a smelting and metal trading company they would have thousands of agreements with thousands of companies to buy mineral/metal concentrates. Much like Glencore they will sign an agreement with anyone who says they can supply them with quality concentrates. They don't vet the companies, they vet the concentrates when and if they arrive. When they receive concentrates that meet specs they pay right away. They never ever make silly agreements to pay for concentrates before they leave the mine site. Only companies participating in a scam would do that. Minmet tries to avoid participating in scams, but they sign so many agreements with so many companies that it could happen.
Their agreement with aurasource was to buy some iron concentrates from them. They issued a $6.5 million letter of credit for that. The letter of credit stipulated delivery of concentrates before payment. Aurasource has never ever received anything remotely close to $6.5 million, so they never made delivery. This happens all the time to Minmetals and similar concentrate buyers. Non-preforming suppliers are just part of the business. It costs them nothing but a small bit of paperwork. They have thousands of performing suppliers so a few non-performers, like aurasource, have no importance to them.
Now could you please answer some of my questions. Why do you think Newmont, Barrick etc. passed on el cap when presented the project on a platter more than a decade ago? Surely you do not believe the claptrap that Chuckiepoo knows more about metallurgy and PMs than major mining companies and has some sort of secret sauce up his sleeve.
And if el cap has significant PMs, why is there no claim rush in the area? Why can ecpn casually drop claims and then years later pick them up again when they need to have something to say to shareholders?
Pan, your man of the cloth is onebeliever whose record of bad advice is unparalleled. It is so bad that some have renamed him onedeciever. Some think he is purposely decieving people and he believes that money is the root of all evil so he is on a mission to empoor people. I think he is just overcome with his self admitted compulsive gambling problem. Judge for yourself. Below a small sampling of his deranged ramblings that are attempts to mislead people.
onebeliever » Fri Aug 31, 2012 2:19 pm
Jake...MANY are going to be kicking themselves for not buying in at .45 when they had the chance!
What a great time in history to be a part of the El Capitan family!
onebeliever » Thu Jun 16, 2011 8:12 am
I wanted you all to know that I helped a pastor friend get set up with Scottrade this week. I helped him through placing his FIRST EVER order of any kind. He never bought a stock before in his life and he is 63 years old. First stock...ECPN!! He is not the only pastor friend I have recommended this to. I believe that our word of mouth is the best advertising we can do for ECPN! I am telling people like I have never told people before!!
Hope you are telling people too before the SP skyrockets!!
by onebeliever, Tue Jun 28, 2011 3:50 pm
I want you all to know that I added to my position today. I actually feel guilty about this knowing what we all already know. I really do. I keep thinking about the person who sold their shares to me under a dollar. What if this was a family facing the possibility of losing their home and they had no choice but to sell right now? They just could not hold on another day waiting for the same news we all are waiting on...latest Arrakis results. I really feel sorry for them and hope their situation was not a must sell!
onebeliver • Nov 3, 2011 2:49 PM
Ecpn72t...Please do not give up on ECPN or me just yet. Give us these three weeks. I am thrilled they are no longer waiting on Arrakis. Copperstate is where the action is and all energy and focus will now be there!! They are getting fantastic results, so why look anywhere else?
Ecpn72t, I have faith that your faith will be restored!
JUST HANG ON!!
onebeliver • Dec 2, 2011 5:24 PM Flag
To all the Onebeliever unbelievers... You know who you are and you do not have a clue as to what is really going on! Ricketts told us all the 43-101 update will be posted to our web-site after it is reviewed. THE IMPACT ON THE SP WILL COME WHEN THE IB SIGNS!!
onebeliver • Nov 19, 2011 10:13 AM Flag
Ista...I am desperate. Trying to sound the alarm for all of you skeptics. Last days are here for all of you to be able to load up under 50 cents!! Get a few thousand shares while you still can!!
One
But, But, But Chugit assured us that a base was formed at 0.08
Candle, Sorry, I am an idealistic nitwit who is under the delusion that the OTC was set up to provide capital to innovative startups to finance bright ideas for the benefit of mankind. My bad,
chug,
issued shares March 31, 2016 = 311,181,187
issued shares June 30, 2016 = 324,969,996
only 5% dilution you say, that is 20% on an annual basis
But the next 10Q will show extreme acceleration of dilution, I predict issued shares will be 360,000,000+ in 10Q to Sep 30, 2016
Management said that the increase in authorized from 300,000,000 to 400,000,000 was only to have shares available for deal making. They said the same about increase in authorized from 400,000,000 to 500,000,000. I reckon by years end issued shares will be close to 400,000,000 and get well above that in 2017.
Guaranteed
The 100 ton a week of concentrates daveyboy is producing at el cap will not produce any significant income this year, next year or before during and after the end of time
Aurasource will never ever produce any significant PMs from el cap dirt
Nobody will ever produce significant PMs from el cap dirt
In this century there will be no sale of ecpn for more than $0.01 per share
Candle, you missed the point.
Is it OK for some to make money from others because of management lies?
pan, you are right it is 1 micron in size. They have shown zero metallurgical data indicating why they should need this size. It is all just hocus pocus
Candle, if they do a pump and new people believe it then there could be a run. If it is based on falsehoods put out by the company will it bother you that the buyers coming in will get screwed? Maybe just a little?
Pan, The truth id none of ecpn claims make any sense
Pan,
!0,000 mesh doesn’t exist
Cyanide leaching is one of the most common methods of gold extraction. ECPN announced test results from a cyanide test work on very finely ground drill hole composite in a Feb 2009 PR. You should look it up, the work was done by experts, very interesting.
Your expert witness says the main separation is done at 5 mm which is actually quite coarse. OK for separation of coarse grained magnetite ore. This and further testimony of you expert witness says that the gold is with the magnetite, the hematite has bugger all and the non-magnetic has silver and PGEs. It seems strange that at one point ecpn was talking about selling magnetite iron concentrates for their iron content only.
Then he says the magnetite has lower PMs and the PMs are in a 10-15% con. This is inconsistent. Also Smith said in his geologic report that he though drilling results indicated PMs were associated with hematite.
The only ore grade signed off by a geologist is Smith’s 0.02 opt.
If the head grade is 0.4 and the con the ship is 10% to 15% of head ore then the cons would be multi ounce. They could afford to remove the dirt with wheel barrows if that was true.
1. gold occurs in important quantities in most platinum-paladium deposits
2. Clyde Smith said 0.02 opt Au at El cap, Chuckiepoo said 1.2 opt numerous sundry times, 0.00 is much closer to 0.02 than 1.2 is. Therefore Clyde is much more in agreement with git than with chuckiepoo, stumbelton or daveyboy
3. trace amounts of gold silver and platinum are found in almost all rocks but trace amounts have absolutely no economic significance.
pan, how old is smith and what did he have to say for himself at the last shareholder meeting?
Also why did he associate with mining scammer chuck ager (of dalgracia fame google it)?
invest, I don't know much about it but it seems getfugu were exonerated. I think they are similar to ecpn in one way though, in 2009 the share price reached $+3.00. It now is at $0.0004
invest, according to its PRs it has been on the verge of producing income since 2004. How much longer are you going to give it to get off the verge and actually produce?
pan, I guessed you missed this
"The agreement is contingent upon AuraSource’s ability to secure its buyer and financing for the prepayments to El Capitan."
Pan, Minmetals is associated with 100s of companies, they will buy mineral concentrates from anybody who has the quality they want. They will never buy mineral concentrates with a pre-payment before mineral leaves the minesite. That is just not how it is done.
read the Aurasource 10Ks and 10Qs, there is no $6.5 million in revenues announced in the PR. Not even close. It seems now ecpn is the one and only thing they have going.
panferfoolsAu,
That aurasource PR was actually to ship some of flimflam larry's dirt.Never seemed to happen. They are a good fit with ecpn, they put out lots of unfulfilled promises. probably larry's influence.
even, well if the PMs are there and davidson knows what he is talking about then revenues should come well before the end of the year, what could possibly stop it except for ista being correct about the PMs at el cap?
even, there are 11 weeks until the end of the year, using your numbers there should be at least $2,750,000 in revenue from Davidson's concentrating. Betcha the revenue reported in the 10Q ending Dec 31 2016 reports revenue between $0.00 and $25,000. Less than 1% of what you are saying the revenue will be. If revenue is more than $25,000 I sing your praises on this board and vice versa.
PS - there is absloutely zero problem with the forest service or anyone else in removing 1 ton of dirt per week.
Panferfoolsgold, A sem scan can see gold in a sample with 0.001 opt gold, that grade is highly uneconomic, but the sem scan seeing gold means it is free and highly amenable to leaching, funny how ecpn reports the dirt is not amenable to leaching
even, international mining companies look at hundreds of projects every year, and do a deal on 2 or 3.
Franky, they choosed ARAO cuz they were the only ones they could get to sign a deal to buy dirt. But their dirt buying is contingent on financing so will never happen
invest, but you do buy into the entire real mining industry ignoring the best PM deposit in the world.
Do you buy into that letting valuable concentrates gather dust while share are sold at <0.10 to raise money is logical?
Do you buy into that grades and PM metal mix varies wildly willy nilly in a uniform magnetite skarn?
Do you buy into that chuckie and his mates know more about metallurgy than the world top metallurgists?
Do you buy into a bankrupt failed company paying $180 million for a pile of dirt?
Do you buy into the only thing holding back huge production at el cap is the FS?
Do you buy into that flimflam larry is not keeping things going so he can unload some more of his shares?
salting can be easily done in seconds, do you buy into davidson carrying the samples around during the day sleeping on the samples at night?
invest, step back and take a look at the big picture. chuck and larry go way back, larry walked away with $millons. larry could not have done it without chuck.
Have a look at some past mining scams like Bre-X and Delgracia. Obvious scams. Anyone prosecuted? No. What are they going to charge chuck or stumbelton with? Falsefying assays? The data comes from the labs. Adding inquart to samples? How they gonna prove who put the inquart in the samples?
What they could be prosecuted for is failing to divulge all the nil assays they recieved. chuckie will say those assays were no good on account of nano-gremlis, however, the prosecution could argue it is material information that had to be released.
As far as Davidson and Aurasource maybe they are as fooled as you are. There has never ever been more than small samples showing PMs. A few grams goes a long way in a 10 kg sample. Davidson appears to be delusional like wendell the loon and david hudson.
The bottom line is it is in no way complicated to sell PMs. If the 7 tons of concentrates they have gathering dust really has the 450 opt they say it has then they could sell it in minutes. What logic is there in selling shares at <$0.10 when you have saleable concentrates worth $millions.
If they really have 141,000,000 tons at 0.4 or 0.1 or 0.05 there would be huge interest from the mining industry and they would act in weeks not decades. They showed many of the important companies back in 2004. None have even bothered to stake any claims in the area. Them or nobody else. These are verifiable facts. ecpn have a long, continuous and consistent history of promising things which never happen (verifiable falsehoods). Basing decisions on what they put out in PRs flies in the face of logic and history. It is like expecting isis to suddenly stop being murderous.
invest, Actually I have disclosed why I post about ecpn many times. I hate mining scams and I hate charlatan snake oil salesmen taking advantage of innocents like you, chugit and franky. Are you man enough to admit I have been right about ecpn over and over?
invest, Aurasource is broke will not buy anything from ecpn or anybody else unless someone/something gives it money to do so
Why don't ecpn sell ore/concentrates to a real mining company or smelter? The metal trading business is vibrant and there are many buyers for precious metal concentrates.
Chugit, the 8-K from 14 Jan 2015 says different
Scottsdale, Arizona – El Capitan Precious Metals, Inc. (OTCQB: ECPN) announced its financial outlook for the fiscal year ending September 30, 2015. ECPN expects to book revenue from sales of precious metals concentrates derived from head ore mining in the quarter ending March 31, 2015.
The Company plans to mine 350,000–400,000 metric tons in Fiscal 2015, yielding gross revenues from the sales of its precious metals concentrates of $22–26 million, while continuing to stockpile its iron ore until prices become more favorable. El Capitan expects such revenues to yield $4.5–5.3 million of pre-tax profit for fiscal 2015 booked on an accrual basis in accordance with Generally Accepted Accounting Principles (GAAP) with a cumulative positive pre-tax profit expected in the quarter ending June 30.
git, My tone on the ecpn ihub board was an attempt to not get banned. However, paranoid i-invest, the moderator, noticed that georgiporgi's registration email is istauwidawascle.yahoo and I cannot post on that board anymore because he banned me. I reckon you will be banned shortly.
I am just a guest here, you are official. Why don't you open a new board here on ihub, Call it something like ecpn - The Truth. We can post the truth and maybe save a few newbees from throwing their money away.
As proof I am me, I will post an ecpn message here before I post it on yahoo.
he only posts as georgeiporgi on ihub, the yahoo email is the automatic email address you get when you signup to post at Yahoo. Yes istauwidawascle is none other than Istaquio.
ista does not have pm ability, he can receive messages at istauwidawascle@yahoo.com
so gitreal, what is your idea for the ecpn scammers?
Mr Gold, If Newmont tested the ore years ago and found gold why didn't they buy the mine back then? Surely they could figure out how to get it out. They have been looking mighty hard for PMs
Chugit, Why are they storing the concentrates and selling shares cheaply. Doesn't make sense if the concentrates are worth so much