El Capitan Precious Metals, Inc. (OTCMKTS:ECPN)
Scottsdale, AZ-based El Capitan Precious Metals, Inc. (OTCMKTS:ECPN) is an “exploration stage” mining company under the SEC Industry Guide which indicates it has lack of mineral deposit reserves that can be economically and legally extracted at the time of the size of the reserve’s determination. However, in the last six months, El Capitan has made steady progression in executing a business plan and in late July those efforts will be disseminated to shareholders and the world. In the meantime, interested investors would be well advised to note the company’s progression to date.
In late February, El Capitan Precious Metals, Inc. (OTCMKTS:ECPN) took possession of a Chinese-made concentrate processor known commercially as an AuraSource II. The multi-million dollar machine was specifically designed and calibrated for the final processing of El Capitan concentrates which will be sold directly to refiners. By late April, El Capitan announced that the AuraSource II was installed and operating at full capacity. CEO John Stapleton also stated that initial shipments of fully processed precious metal product had been sent to prospective buyers to determine pricing for continual sales. The pilot processing-plant operations represent the central resource in the El Capitan’s ability to take its precious metals to market and generate positive cash flow. Then last week, on June 8th, El Capitan Precious Metals, Inc. (OTCMKTS:ECPN)
Announced that the company had successfully conducted smelting demonstrations. The smelting was conducted in front of three refinery representatives who the company would like go convert into customers for its precious metals products. El Capitan’s concentrates were used to produce precious metals in alloy form. Two of the three refineries present at the demonstration are said to rank among the top precious metals refiners in the world.
El Capitan Precious Metals, Inc. (OTCMKTS:ECPN) claims that this validates their ability to recover and process precious metals from concentrates. In order to move the company forward, El Capitan is holding a shareholders meeting in late July to provide details of the processes, metallurgical results, sales updates, and pending contract commitments. Given the progress and momentum linked to ECPN, interested investors should stay well informed on the continuing news that is released by El Capitan. Given the volatile nature that positive news has on companies in the precious metal’s sector, there is little doubt that this stock could produce a quick and prolonged move if the positive momentum continues.
I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.
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About the author: Steve Clark is a 23-year Wall St professional with stints in M&A, risk management, and algorithm trading. Steve keeps his head in the game by looking for, and writing about, small companies that often get overlooked by the big investment firms.