Oct 25 2013
Amarium Technologies Inc., through its wholly owned subsidiary Amarium Minerals Inc., reports that the Company's first shipment of copper production to Anglo Asia Resource Partners is currently in transit.
The initial copper shipment of 65,000 pounds to its destination in China begins the fulfillment of the copper stream sales agreement the Company entered into with Anglo Asia on June 5, 2013. Anglo Asia Resource Partners is a private Hong Kong partnership that is focused on procuring precious and base metals for the Asian market's manufacturing and industrial supply chain.
"The first copper shipment is an important milestone for Amarium, and signals an exciting new era for the Company," said Adam Carter, President and CEO of Amarium Minerals. "It is our responsibility to mine, process, transport and load copper at the port facility. This whole process was a learning experience for us, but was completed successfully without any significant logistical issues. We are encouraged by the seamlessness of the processes we set-up and look forward to continuing to fulfill the supply obligations with regular shipments to our business partner Anglo Asia."
In addition to announcing confirmation of the first copper shipment, the Company also stated that it plans to post its 3rd quarter financials in the coming weeks, for the period ending September 30, with expected earnings to reflect the Company's previously announced production at the Jovita Mine being ahead of schedule. Mr. Carter also stated, "We are looking at the feasibility of rewarding Amarium shareholders in a direct manner in the future, as the Company has been very fortunate to exceed expectations for the recent quarter. However, our first priority is growth and we need to closely evaluate our current position to make sure that the Company continues to meet or exceed its planned performance targets going forward."
Amarium is focused on the acquisition and development of base metals projects in Mexico that are currently in or near production and advanced exploration properties that will add substantially to the Company's asset foundation. Management is continuing to actively pursue mineral interests that represent significant growth, value and cash flow opportunities.
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