Ecometals Reports Second Shipment of Port Stockpiled Manganese Mineralized Material From Brazil
April 22, 2010 at 12:32 PM EDT
TORONTO, ONTARIO--(Marketwire - April 22, 2010) - Ecometals Limited (TSX VENTURE:EC)(BERLIN:GDQ)(FRANKFURT:GDQ) -
Ecometals is pleased to report despatch of a second shipment of approximately 20,600t of stockpiled manganese mineralized material from Santana port in Amapa state, northern Brazil.
The material stockpiled at the port was mined previously from the former Serra do Navio manganese mine by Industria e Comercio de Minieros SA (ICOMI), but was not shipped previously by them due to prevailing economic conditions. Ecometals is the sole owner of the material at the Santana port and on this shipment, which removed the last of the material there. The material on this shipment was sold under contract to an undisclosed buyer at a negotiated price to yield gross revenue of C$0.32M.
Continuous sampling and draft survey weight during ship loading was conducted and certified by Inspectorate do Brasil Inspecoes Ltda using ISO and ASTM standard sampling and analytical protocols.
Cargo ship MV Saga Enterprise was loaded at the government docks operated by Compania Docas do Santana (CDSA) and cast off on 6 April 2010.
As previously reported, Ecometals Limited also owns, through its subsidiary Ecometals Manganes do Amapa, a further 3.3m tonnes of stockpiled manganese mineralised material at Serra do Navio for which it is currently awaiting permits to transport to, and export the material from, the Santana port . Ecometals has already negotiated provisional agreements regarding railway and loading contracts, sales agency and trade financing in respect of this material.
Ecometals Limited is a TSX Venture Exchange listed mineral exploration and development company focused on mineral resources in Latin America. Ecometals has significant manganese, iron and gold projects in Brazil at grass roots and development planning stages, as well as gold exploration activities in Ecuador.
Safe Harbor Statement: Statements contained in this release that are not historical facts are forward-looking statements which involve risk and uncertainties, which could cause actual results to differ materially from those expressed in forward-looking statements.
These include risks relating to changes in economic or environmental conditions, the granting of permits referred to, and therefore the company's ability to execute its strategic plans. The company relies on litigation protection for forward-looking statements."Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release."