VANCOUVER, British Columbia, Sept. 06, 2019 (GLOBE NEWSWIRE) -- A.I.S. Resources Limited (TSX-V – AIS, OTCQB: AISSF) (the “Company” or “AIS”) announced today that 1,000 tonnes of manganese has been mined, consistent with our production target of 1,000 tonnes to be produced every two weeks.
AIS Resources’ Updated Highlights of Our Current Manganese Production:
- 600 of the next 1,000 tonnes has been bagged and readied for road transport to the port.
- At the port, bags will be emptied and loose manganese ore will be loaded in containers thereby eliminating the $60 bag cost per container. More importantly, this shipping method enables AIS to completely fill the containers and ship higher tonnage, reducing shipping cost per tonne.
- To date, government customs analysis has certified the 21 containers sent at 43.24% Mn and 1.57% Fe.
- The next shipment of 1,000 tonnes is expected to be shipped mid-September with a total of 2,000 tonnes to be completed by the end of September.
AIS Resources’ Contractor Working On the Victor Mine
Two excavators are currently working at the Victor mine site and two more pits will be opened at the San Jorge mine allowing us to fulfill our production schedule. This helps us continue to move toward our short-term target of producing 10,000 tonnes a month.
AIS President Attends FerroAlloyNet 16th International Manganese Products Conference
AIS Resources CEO, Phillip Thomas attended the FerroAlloyNet Conference where he engaged a number of significant buyers and traders in discussions to buy manganese from AIS in Peru. There was a strong preference for buying from Peru versus Brazil or Africa due to the country’s stable production environment and mining focus.
"I am delighted with the positive reception our manganese product received at the Conference," stated Phillip Thomas, President and CEO. "We have significant interest from buyers at the prices we are seeking for the manganese grades we are producing. We continue to expand our production capacity and our logistics team is producing all the required documentation and analysis certificates."
About AIS Resources
A.I.S. Resources Ltd. is a TSX-V listed investment issuer that 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.
On Behalf of the Board of Directors, A.I.S. Resources Limited
President and CEO
Phillip Thomas - President and CEO
T: 604 687-6820
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.