Cyprium Mining (CUG-V) Oct 16, '14 secures mill feed for Aldama Plant
First deliveries mill feed to the Aldama plant expected shortly
Cyprium to purchase mill feed, process and sell concentrates
Use of the Aldama plant by Cyprium to also serve as optimization of plant operations ahead of production from Las Cristinas
Cyprium Mining s pleased to announce that, through its wholly-owned Mexican subsidiary Cypriumex S.A. de C.V., it has signed a mill feed purchase agreement with SkyFall Industries S.A. de C.V. a Chihuahua, Mexico based company specializing in the offering of services for small and medium mines for mineral treatment and commercialization of concentrates. Under the agreement of an indefinite period, Cyprium will immediately start buying mill feed from SkyFall for processing at the Aldama plant, with first deliveries expected in early November. Cyprium recently announced that it has secured the exclusive use of a 100 metric tons per day flotation plant located outside the City of Chihuahua. Under that five year agreement, Cyprium will use the plant on a variable cost basis and will be responsible for the supervision of all metallurgic processes, including quantitative chemical analysis, assaying of samples and determining feed grades.
"Our partnership with SkyFall is a positive development for Cyprium and our vibrant local mining sector which is characterized by several small to medium size miners but a lack in efficiently run processing facilities. We believe that SkyFall's long history in dealing with and purchasing minerals from several small and medium sized miners in Chihuahua State when combined with Cyprium's professionally run processing plant will be a winning proposition for all involved", said Andre St Michel, President and CEO of Cyprium. "We are finalizing plans to receive the first shipment from SkyFall and are expecting to start treating minerals at the Aldama plant shortly."
"When we start and ramp up production at our Las Cristinas property we intend to process minerals from both our property and SkyFall's minerals at the Aldama plant in order to maintain the plant operating at full capacity," Mr Andre St Michel concluded. |
