Owner
Post by Franko10 ™ on Oct 24, 2005 6:27:33 GMT -5
Shareholder Letter from Chuck Mottley, ECPN CEO (bwire)
SCOTTSDALE, Ariz. (Business Wire) -- El Capitan Precious Metals, Inc. (OTCBB:ECPN) reports:
To: ECPN Shareholders
From: Chuck Mottley, President and CEO
Re: The Future of ECPN
I believe that ECPN is on the right track in anticipating the future needs of not only this country but of the world. Here are four of the basic needs and what ECPN is doing about meeting those needs.
Energy--Fuel Cells
Fuel cells and hydrogen will be an important part of the future as we move away from fossil fuels. Platinum, because of its high resistance to heat (approximately 3,000 degrees), is in great demand. The demand is increasing beyond the supply as evidenced by it's rising price (over $900 an ounce) which is close to twice the price of gold. Even though we will be selling our major platinum deposit, the El Capitan Mine, we are currently testing other properties with mineralized ore at our plant in Colorado which are showing potential for precious metals, especially in the platinum groups. I am very optimistic about the potential of this project and expect it to enable us to have a positive cash flow in the near future.
Energy--Nuclear
There are approximately 100 nuclear energy plants in some stage of construction being built in China, India and Russia. It is just a matter of time before we start building new nuclear plants in the U. S. This is going to create an increased demand for the fuel for these plants. ECPN is in the process of testing a uranium property in California and the preliminary data has been encouraging. Our plans are to sell this property to a major mining company after collection of sufficient data.
Steel Industry--Iron Ore
I believe that the future of the steel industry lies in the "direct smelt" technology which bypasses steel mills and produces an end product that can be used by mini-mills. We are in touch with this new technology and are positioning ourselves for any near future opportunities.
Gold
The huge budget deficits coupled with the current balance of payments and the declining value of the dollar have caused the world to put more value in the intrinsic value of gold which has historically been considered "real money". We have acquired the rights to properties believed to have gold values and are testing them for potential future development or sale. We intend to continue to build an inventory of such properties and be prepared for a potential future "financial meltdown". Our vision in this area is supported by the rise in the price of gold from $260 per ounce just a few years ago to over $460 per ounce today. Our gold reserves, in the ground, have almost doubled.
Summary
Upon the conclusion of the sale of the El Capitan Mine the Company should be in a position to finance future projects without having to raise the financing from either investors or lending institutions. I want us to be self financed without debt.
I have been fortunate enough, with the help of friends, to have raised this year approximately $3,000,000 for ECPN's working capital. Those monies have allowed us to drill the El Capitan Mine and gather sufficient data to market it to a major mining company as well as continue with our other projects.
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.
El Capitan Precious Metals, Inc. is an exploration stage company that owns a 40% interest in the El Capitan mine located near Capitan, New Mexico as well as a joint venture and 20% ownership of 13 mining claims and other assets known as the C.O.D. mine located near Kingman, Arizona. In addition, the Company owns contractual rights to the Rainbow Valley mine consisting of 1660 acres and 100 % of the Weaver mine, both near Phoenix, Arizona.
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. This press release contains forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially. These risks and uncertainties include, among others, the results of metallurgical testing, 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 iron ore and other products; fluctuations in world market prices for the Company's products; competition from iron ore producers worldwide, which producers have greater resources and more established operations than those of the company; the company's ability to arrange transportation from its mining properties to ocean ports on satisfactory terms; the Company's ability to obtain or maintain regulatory approvals; the company's ability to obtain financing for the commencement of mining activities on satisfactory terms; the Company's ability to obtain necessary financing; and other risks and uncertainties described in the Company's filings from time to time with the Securities and Exchange Commission. The Company disclaims any obligation to update its forward-looking statements.
El Capitan Precious Metals, Inc.
Vice President
Ron Perkins, 480-607-7093
www.elcapitanpmi.com
SCOTTSDALE, Ariz. (Business Wire) -- El Capitan Precious Metals, Inc. (OTCBB:ECPN) reports:
To: ECPN Shareholders
From: Chuck Mottley, President and CEO
Re: The Future of ECPN
I believe that ECPN is on the right track in anticipating the future needs of not only this country but of the world. Here are four of the basic needs and what ECPN is doing about meeting those needs.
Energy--Fuel Cells
Fuel cells and hydrogen will be an important part of the future as we move away from fossil fuels. Platinum, because of its high resistance to heat (approximately 3,000 degrees), is in great demand. The demand is increasing beyond the supply as evidenced by it's rising price (over $900 an ounce) which is close to twice the price of gold. Even though we will be selling our major platinum deposit, the El Capitan Mine, we are currently testing other properties with mineralized ore at our plant in Colorado which are showing potential for precious metals, especially in the platinum groups. I am very optimistic about the potential of this project and expect it to enable us to have a positive cash flow in the near future.
Energy--Nuclear
There are approximately 100 nuclear energy plants in some stage of construction being built in China, India and Russia. It is just a matter of time before we start building new nuclear plants in the U. S. This is going to create an increased demand for the fuel for these plants. ECPN is in the process of testing a uranium property in California and the preliminary data has been encouraging. Our plans are to sell this property to a major mining company after collection of sufficient data.
Steel Industry--Iron Ore
I believe that the future of the steel industry lies in the "direct smelt" technology which bypasses steel mills and produces an end product that can be used by mini-mills. We are in touch with this new technology and are positioning ourselves for any near future opportunities.
Gold
The huge budget deficits coupled with the current balance of payments and the declining value of the dollar have caused the world to put more value in the intrinsic value of gold which has historically been considered "real money". We have acquired the rights to properties believed to have gold values and are testing them for potential future development or sale. We intend to continue to build an inventory of such properties and be prepared for a potential future "financial meltdown". Our vision in this area is supported by the rise in the price of gold from $260 per ounce just a few years ago to over $460 per ounce today. Our gold reserves, in the ground, have almost doubled.
Summary
Upon the conclusion of the sale of the El Capitan Mine the Company should be in a position to finance future projects without having to raise the financing from either investors or lending institutions. I want us to be self financed without debt.
I have been fortunate enough, with the help of friends, to have raised this year approximately $3,000,000 for ECPN's working capital. Those monies have allowed us to drill the El Capitan Mine and gather sufficient data to market it to a major mining company as well as continue with our other projects.
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.
El Capitan Precious Metals, Inc. is an exploration stage company that owns a 40% interest in the El Capitan mine located near Capitan, New Mexico as well as a joint venture and 20% ownership of 13 mining claims and other assets known as the C.O.D. mine located near Kingman, Arizona. In addition, the Company owns contractual rights to the Rainbow Valley mine consisting of 1660 acres and 100 % of the Weaver mine, both near Phoenix, Arizona.
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. This press release contains forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially. These risks and uncertainties include, among others, the results of metallurgical testing, 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 iron ore and other products; fluctuations in world market prices for the Company's products; competition from iron ore producers worldwide, which producers have greater resources and more established operations than those of the company; the company's ability to arrange transportation from its mining properties to ocean ports on satisfactory terms; the Company's ability to obtain or maintain regulatory approvals; the company's ability to obtain financing for the commencement of mining activities on satisfactory terms; the Company's ability to obtain necessary financing; and other risks and uncertainties described in the Company's filings from time to time with the Securities and Exchange Commission. The Company disclaims any obligation to update its forward-looking statements.
El Capitan Precious Metals, Inc.
Vice President
Ron Perkins, 480-607-7093
www.elcapitanpmi.com
