AIS Resources, Ltd. (TSXV: AIS) (OTCQB: AISSF) is engaged within the exploration, development, extraction, and trading of primarily lithium and manganese. Canadian-listed shares of the manganese mining company surged 100%, during trading on Tuesday, July 23, 2019. Over the past three months, AIS Resources has seen average daily volume of 101,421 shares. However, volume of 2.49 million shares or dollar volume of C$298,800, exchanged hands during trading on Tuesday.
Shares of AIS Resources skyrocketed on Tuesday, after the company announced that it has delivered 150 tonnes of manganese ore. The ore made its initial shipment and has arrived in Lima, Peru, where it will be loaded into six containers for export to China. An additional 350 additional tonnes of manganese ore has been bagged at AIS Resources’ mining site in preparation for shipping. Once the initial six containers has been completed, AIS Resources plans to follow with an additional 40 containers totaling around 1,000 tonnes every two weeks from its San Jorge mine. The goal is to hit a monthly target of 10,000 tonnes. Here is the full press release detailing of the delivery:
AIS Resources, Ltd. Press Release:
VANCOUVER, British Columbia, July 23, 2019 (GLOBE NEWSWIRE) — A.I.S. Resources Limited (TSX-V – AIS, OTCQB: AISSF) (the “Company” or “AIS”) announced today that the Company’s initial trial shipment of 150 tonnes manganese ore has arrived at Lima, Peru and has been loaded into six containers. AIS provides the following update:
Highlights of the Manganese Ore initial shipment include:
- 150 tonnes of high-grade fines manganese ore has been loaded into six containers to be shipped the week of July 28, 2019.
- 350 additional tonnes has been bagged at the mine site in preparation for shipping.
- Centamin analysis of the 150 tonnes showed an average assay of 49.4% Mn, Fe 0.95%, SiO2 2.4% which is an excellent specification.
- Manganese Ore has recently sold in the range $233- $250 USD per tonne for 44% Mn content ($5.30-$5.70 USD per percentage Mn)
Short-term target of 10,000 tonnes Manganese Ore per month:
After this initial cargo of 6 containers per week for three weeks, AIS will follow with 40 containers totaling 1,000 tonnes every two weeks from the San Jorge mine. As mining progresses at other locations this will be increased to our short-term target of 10,000 tonnes per month.
- AIS is also negotiating additional sales agreements for high-grade fines manganese products with several purchasers who will be receiving the trial shipments.
- Our Peruvian geologist and General Manager are currently visiting three other mines in the Cajamarca area with the objective of adding lump manganese to the AIS product line.
Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/e49d0efe-8245-4f99-a3ac-5c0e690bbe34
https://www.globenewswire.com/NewsRoom/AttachmentNg/fb0ef160-3fe3-40d7-a16a-146ab0ccf795
https://www.globenewswire.com/NewsRoom/AttachmentNg/c354ca3f-397d-4cfd-965f-53869361d7cd
AIS Resources President and CEO, Phillip Thomas stated, “I am delighted we have completed loading the first six containers, and will be shipping manganese ore the week of 28th July 2019. We are elated at the grade of the Manganese fines ore our supplier has been able to produce.”
About A.I.S. Resources
A.I.S. Resources Ltd. is a TSX-V listed investment issuer, is managed by experienced, highly qualified professionals who have a long track record of success in lithium and manganese trading, exploration, production and capital markets. Through their extensive business and mining networks, they identify and develop projects worldwide that have strong potential for growth with the objective of providing significant returns for shareholders. The Company’s current activities are focused on the mining and trading of manganese ores in Peru, and exploration and development of lithium brine projects in northern Argentina.
ADVISORY: This press release contains forward-looking statements. More particularly, this press release contains statements concerning the anticipated use of the proceeds of the Private Placement. Although the Corporation believes that the expectations reflected in these forward-looking statements are reasonable, undue reliance should not be placed on them because the Corporation can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. The intended use of the proceeds of the Private Placement by the Corporation might change if the board of directors of the Corporation determines that it would be in the best interests of the Corporation to deploy the proceeds for some other purpose. The forward-looking statements contained in this press release are made as of the date hereof and the Corporation undertakes no obligations to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
