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" ... what happened to your statement that if there was no significant revenue by Dec 31 2016 you would ...".
That was resolved amicably and very much to my satisfaction.
Oh Isti, Isti - the walls are closing in on you! Haven't you said for years now that El Capitan had "zip, none, nada" PMs on their property? Now I know, no revenues have been received yet but when they are. Oh Isti, Isti, all these years of prognostications all for naught. Well, at least revenues didn't come on December 25th. That would have been like Santa Claus farting in your face! Let's see how this progresses oh sage of all mining on Earth. Let's see how this progresses ...
For Immediate Release
January 4, 2018
For Further Information Contact:
Steve Antol | 928-515-1942
News Release
El Capitan Precious Metals Executes Contract with Precious Metals Buyer
Scottsdale, Arizona – El Capitan Precious Metals, Inc. (OTC/QB: ECPN) announced today that an agreement was executed in December for the sale of its precious metal hyper-concentrates. El Capitan Chairman and CEO John F Stapleton reported that the Company reached a final agreement with a buyer and has executed a Purchase Agreement for all remaining hyper-concentrates produced by the Pilot Plant from the concentrate materials stored at the bonded warehouse in Tucson, Arizona.
This sale represents the last El Capitan Pilot Program activity. It successfully completes the goals of the Pilot program, as well as demonstrates several small-scale recoveries, (5–15 pounds of hyper-concentrated material recovery of precious metals) proving the recovery technology. This sale of the remaining hyper-concentrated material to the buyer, who will smelt and refine the remaining material, demonstrates recovery and technology on a larger scale.
Per the terms of the agreement, “settlement and payment shall be a minimum of 60 days following receipt of material of sampling completion, should representation be utilized.” This transaction protocol utilizes an industry standard: Upon receipt of the concentrates the buyer will assay the material utilizing an outside representative. This assay will be compared to an independent assay performed by El Capitan. If there is a significant difference between the two, an independent umpire will be engaged to resolve the difference. Both parties agree that, in the event of a dispute or discrepancy, the entity’s valuation closest to the umpire’s will prevail.
The Pilot Program began with the development and testing of a hyper-concentration device built in China in late 2016 and shipped to the United States in the first calendar quarter of 2017. The device was installed and modified to operate in the United States in the second calendar quarter of 2017 and has processed all the concentrates from the Tucson warehouse into hyper-concentrates. After considerable experimentation and modifications during mid-2017, the Company was pleased with the effectiveness of the technology and the end results achieved. The Pilot Program achieved its purpose of proving the technology through precious metals recovery as of the end of 2017.
El Capitan is evaluating all the data generated by the Pilot Plant to determine the appropriate pathway to a Production Plan.
Liar or soothsayer? Georgei, these next couple of PM-laden smelted bars will seal your fate. Have you been a liar or a seer of truth? A man of enlightenment or a man with extreme psychological issues who lies, lies, lies? PMs or no PMs? Your legacy is on the line. As your friend and confidante I must advise you as truthfully as I can. We all await the verdict! I will help you through this as best I can should the jury not go your way.
Forum all upset at $3637 recorded for Q2. Did it ever dawn on those people that a business has to record funds when they are received? Should wait until the Q3 10Q before they go running off nutso. Think it's possible the check came in for the 13.5875 pound bar some time in July? I do. What say you Georgei?
Interesting isn't it Georgei that ECPN has been able to stay in business for all these years when most small mining startups usually go bust in a very short period of time.
You point to ECPN's long survival as a weakness. I see it as a strength in that they've been able to stay in business for as long as they have. In other words - where there's smoke there's fire, only in this case said fire is coming from a smelting furnace which has produced and sold PMs. That's the bottom line.
Your conspiracy theories are interesting but just that - an unsupported theory - unless you are prepared to offer proof of your so called "salted ore". Please provide said proof because since we are now friends, what's stopping you from offering me fact-based help?
Georgei, you seem like a real nice guy, very knowledgeable, but I just don't know. Can you provide us with more than just accusations? That would really help because I want to buy more shares but to be honest, listening to you has made me very cautious and (thanks/no thanks?) to you I haven't pulled the trigger. Any help would be appreciated.
Patience Georgei, patience. Things are on a big time roll. You'll hear more about it soon enough.
A local newspaper printed a very inaccurate/misleading/poorly researched article regarding the El Capitan Mine. Our attorneys need to contact them immediately and require a retraction/revision. Only a full disclosure will suffice, and it must not be tucked away in some unseen part of their paper or website. Wouldn't you agree Georgei?
They should have contacted Mr. Stapleton before they printed the report. This is not an abandoned mine!
Just goes to show that no matter how carefully you treat the land, no matter how clean the mining and reclamation process (most mines have to use cyanide to extract precious metals, the El Capitan Mine uses water and they process off-site), you just can't please the anti-mining crowd in this country. Reclamation and a 40 acre moving mining permit will probably leave the forest land looking better than when El Capitan started operating on it! Again, wouldn't you agree Georgei?
I don't know all these funny names you're bringing up Georgei. But like I have always said, you should contact the FBI if you have any proof of your allegations. They'd want to know because this would be a multi-million dollar crime.
You make powerful allegations Georgei. Posting to a message board doesn't make them so. A criminal indictment would. Unless of course you have no proof of what you say and you are making it all up. Shame shame Georgei if that is so, and I personally do not believe you.
Oh Georgei, in case you didn't read this morning's press release from El Capitan, here it is:
El Capitan Precious Metals, Inc. (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 in the Business Update posted to the El Capitan site today: www.elcapitanpmi.com
https://finance.yahoo.com/news/el-capitan-announces-july-sales-111500101.html
Interesting, wouldn't you say Georgei?
13.5875 pounds of it Georgei? Did they put that much inquart into the ore? Sounds kinda fantasticismo!
Well now Georgei, how might I ask did this inquart find its way into the ore?
Georgei, Johnson-Matthey followed the production process from feedstock ore to precious metals, and then assayed it and confirmed values. Tell me oh wise one - what was JM measuring/verifying when they analyzed that block of PMs that was smelted in that oven?
Lots of shares being sold, from the line of credit set up with that finance company I suspect. There's a great reason for that, but don't look to the forum for answers. Those who know are gone, and the two or three that do know are not about to tell some of the moaners who linger there. But their input is appreciated. They know who they are. Thank you! I'm with you 100%.
Wait 'till you see the upcoming announcement!
That's a lot of different types of inquart they put into their little PM-pie recipe, according to you, hey Georgei? Btw - have you called the FBI yet? Probably not.
Anyway, let's see what it is you say happened. According to you, they used gold inquart, silver inquart, platinum inquart, rhodium inquart, iridium inquart, ruthenium inquart, palladium inquart, and osmium inquart to pull off/out this chunk of metal outta the PM oven. Mix all those inquarts together and you get an El Capitan Mine smelter PM pie. What a recipe!
https://image.slidesharecdn.com/2017-26-07-ecpnsinfomeetingpresentation-170726164044/95/el-capitan-precious-metals-inc-shareholders-informational-meeting-22-638.jpg?cb=1501087524
You're getting funnier all the time Georgei. Funnier with every success they make.
Are you lying about El Cap having no PMs? I think so. But why believe my own eyes (and the eyes of Johnson-Matthey) when we have you, an unknown Mr. Anonymous posting on the Internet. That is hillarious stuff right there!.
Yeah - I'll make investment decisions based on your comments and your comments alone. No, I don't think so! But enjoy the upcoming quarterly report. I'm sure you'll tell us not to believe a single word it says. Because, hey - you're Georgei, King of the mining jungle! Kinda makes me smile.
You accuse them of a Bre-X type of scheme? Call the FBI Georgei. You have under two weeks left. And the Bureau would be interested in a $31M criminal activity. They have investigated far less.
So time for you to put up or shut up. If we don't see a raid of their offices, mine site and production facility in under two weeks you will have defaulted to the "guilty" position. Guilty of being a liar! I await your report.
Well then Georgei, I suggest you call the FBI. After all, if this is a scandal like your Bre-X, they are certain to be interested. If I don't hear about an FBI raid in a week or two, I will consider that you are lying.
Verified chain of custody Georgei, performed by JM. This from the meeting according to a forum poster:
"Johnson-Matthey Confirms PMs. 10 day long process of following (one of the guys from Johnson-Matthey) the ore through the process (raw material to smelted product) and verified results."
But you say it's all a criminal enterprise. Prove it Georgei. Call the FBI.
Well Georgei, with Johnson-Matthey refining our PMs and verifying their content, confirming their presence, it looks like you have been quite incorrect in your wild-eyed assessment that there are no PMs at the El Capitan Mine. Interesting, is it not?
Booyah! Big news for this company, and money paid for their precious metals bars is the big step investors have been waiting for. I am hoping we will soon see the stock price go above a dime.
Today is a day that should be marked on your ECPN history calendar. The meeting coming up should be very informative, and I have made plans to be there. Hope the weather isn't too hot. Hope the stock price is!
Pilot Plant Processing Operations Underway as El Capitan Precious Metals Prepares for the Sale of Precious-Metals Concentrates
Scottsdale, Arizona – El Capitan Precious Metals, Inc., (OTC/QB: 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.
Recall the last shareholder meeting. I fully expected revenues by Dec. 31st. It didn't happen. So at some point you have to realize that either there is something there or there is not. Or management is incapable of delivering. March 31st is a reasonable deadline. After that shareholders should not take any more excuses. And yes there is something that can, and probably will, be done.
Process some dirt and make money. If they can't do this by March 31st, then they never will.
Process some dirt and make money. If they can't do this by March 31st, then they never will.
A Bre-X movie "Gold" starting Matthew McConaughey? Who was the mining consultant hired to help with this production Georgei, you?
"Hollywood has taken artistic licence with the plot but the true story the film is based on - the $6billion Bre-X mining scandal - really is astonishing.
McConaughey plays 'brash, chain-smoking, pot-bellied mine prospector' Kenny Wells, who dreams of finding a mythical pot of gold which will make his fortune.
He meets a semi-mystical geologist who convinces him to come to Indonesia and eventually persuades him to make a claim on a patch of jungle in Borneo.
Wells is based on David Walsh, a Canadian mining prospector, whose company Bre-X was the darling of Wall Street in 1995 when he struck gold in Busang, Indonesia.
At one point it was claimed Busang contained 70 million ounces of gold, worth billions of dollars."
http://www.dailymail.co.uk/news/article-4148366/Matthew-McConaughey-s-movie-based-jungle-gold-rush.html
Goodbye to all. I won't be posting here anymore. There is nothing positive to be had here so, I'll just go over the the investor's forum. I wish all the El Capitan Mine investors tremendous success!
Now you sound like you are being more reasonable, which is good because even though we disagree I like talking to you and everyone else on this forum. All I can say is I will continue to repost things I read on the ecpm.lmi forum so you and anyone else interested can see the information that is posted there. But we can agree on this, and please mark the date on your calendar ...
They said on the October 5th press release:
El Capitan Precious Metals, Inc., (OTC/QB: ECPN) announced that it has executed its agreement with AuraSource, Inc. (OTC Markets: ARAO) for the sale of up to 600,000 metric tons of head ore over the next 12 months. ... The revenue to ECPN would be $180 million per year.
and ...
The Company is confident it will be able to provide the road access required.
Don't forget to take a look at the road permit as PR'd on Sept. 28th. There they display the road permit signed by President Wilson.
Now Git, we do agree on one thing. The company stated revenue would be generated over the next 12 months. That means to any reasonable person that between Oct. 2016 and Oct. 2017 we are to expect revenue. If by the latest March 31, 2017 they don't report making money, I will consider this a company making false claims and we together can proceed accordingly.
Did he or did he not post a response to a question on that private board?
I'm not going to allow you to put me under any line of questioning. That's all. End of discussion. Sorry you are so negative. I suggest you either go to the forum or re-read what I copy-n-pasted.
Believe whomever you want. Makes no difference to me. I just passed along a comment I read on this ECPN forum.
How would I know? Git - you are trying to stir up a controversy where none exists.
Funny comment here if you are implying I am tasked by management to do anything:
An Ihub poster is now designated to forward comments by company management
IHub is a board where investors in the stock can share information and opinions. I saw it and shared it. If you are were an investor you'd be happy and say; "Thanks Pan"! I would respond; "You're welcome".
Well it was placed on this public board right after it was posted so no unfair advantage to anyone. Besides it was also information that was already put out at the stockholders meeting.
True. The forum is not run by the company. I believe it is a board run by an investor/investors.
Complain to the company Git. In the meantime, I'm just passing it on.
Well seeing how I reposted it immediately after it appeared on the forum I'd have to say No! It isn't "selective disclosure". As for the forum, here's a link (though somehow I think you already have it):
ecpn.lmi.net/
If I hear anything else I'll let you know. Some very nice people posting over there. I applaud their selfless efforts. Hope this helps. I am glad to lend a hand. Are you new to mining investing? Well, many of us are and I for one am glad to get all the help I can. Even from you and Georgei! Especially Georgei, even though he is down on this mining company. I consider him to be my friend. We all have something to add.
All is ready for launch according to a comment on the company forum:
OK everyone...even though every bone in my body is aching from a long travel day, I want to keep my promise to you...
Here is my most recent question to JS...
Hi John...Only one question please. Are you still confident we will book our first revenue before the end of the year?
Thank you so much!
His answer I put in all caps just to clearly distinguish his words from mine...
EQUIPMENT FOR PILOT PLANT PROCESSING IS ON IT'S WAY. WE ARE ANTICIPATING REVENUE THIS MONTH.
JOHN
Now a little added rumblings coming in from several different shareholders to me...not management to me...Once I got several confirmations of this I am ok to pass it along as I received it...
Others have been told the discussions with the FS are now going very well. The FS initiated the desire to meet with all parties involved. Meetings and discussions are taking place.There will be a signed written agreement with the FS to give us full access to the road that we need and want. Others have been told once the signed agreement is completed, it will then be announced to all...
Opinions and disclaimer from me...please do not forget I am only a messenger...My personal opinion is that we have a "reasonable" chance to hear about both of the above before Christmas...Either announcement, when it does come, will be HUGE in and of itself...Both will be MASSIVE after all the waiting and pain we have all endured...
What say you Georgei?
Gerogei, the fact that ECPN has not dropped sub-penny like tons of penny stocks do, or that the company has not had to declared BK like lots of small mining companies do, says something. It says that millions of dollars of equipment have been purchasable by the company (someone needed to believe enough in it in order to finance the machinery) and that many purchasers of the stock think there's something commercially viable at the mine.
If this were a total criminal enterprise as you suggest, by now there would be no ECPN. And too many people with good reputations would have to be "in on it", in on something that could put them at risk of criminal prosecution, and as such - I just don't buy this "scam" stuff. Nowadays ignorance is not a defense. Company officials are held responsible for making sure they know what's going on. Fiduciary duty. The real bereaved people here? Those who bought in at over a buck. They must feel like total crap by now. I understand. But they were poor investors. That said, they have had ample opportunity to average down or get out.
And please Georgei, let good people express their opinion freely on a closed company forum. That in no way influences the public at large.
Well, at least the stock price isn't going below a penny. If it were that worthless we'd see it go to 0.001 cents. Or BK. That it isn't!
Reporting of revenues. I wonder what's holding it up? At the very least Aurasource should have made many (combined) small truckloads of concentrate available to their Hong Kong buyer by now. Even without this machine they need to have delivered (I read it on the company website by a very knowledgeable commenter - the need for some machine to process the ore).
El Capitan should have been paid for concentrates and they could have shipped tons to China for processing by now. Isn't the company supposed to be paid at the mine site when the "cons" (that's short talk for concentrates) are trucked off-site? That has happened already according to that knowledgeable person on the website. No need for a road permit to take small truckloads out (they already have that). Anyone with information on this please chime in. Even Georgei.
Where's the money???
2.66M shares traded. Just WOW! People are very interested in this stock. We know who's selling. Now - who's buying?