01:29:01 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



AIS Resources Ltd
Symbol AIS
Shares Issued 83,426,366
Close 2020-01-29 C$ 0.05
Market Cap C$ 4,171,318
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A.I.S. Resources receives payment for manganese fines

2020-01-29 08:50 ET - News Release

Mr. Martyn Element reports

A.I.S. RESOURCES COMPLETES PERU MANGANESE TRADE, ZAMBIAN ORES ASSAY 53% MN

A.I.S. Resources Ltd. has received payment for the first 292 DMT (dry metric tonnes) of manganese fines sold in November, 2019. There was no discrepancy between the China import quarantine (CIQ) and Veritas Peru certificate of chemical analysis. The buyer paid the benchmark price of $3.70 (U.S.) per DMTU and the final grade was 42.75 per cent Mn.

AIS has sourced very high-quality manganese from its Zambian supplier which will be sold on a CIF basis from Dar Es Salaam Port in Tanzania. The ore was independently assayed by the company's Chinese buyer with an assay of 53.66 per cent Mn with low iron, silica and aluminum. The company will move to contracts after the Chinese new year.

The company has 1,000 tonnes of 42 per cent manganese fines ready for sale in Peru and it has negotiated an acceptable price for 30,000 tonnes of 42 per cent Mn from Brazil. The company has sent term sheets to a number of buyers it has been communicating with.

About A.I.S. Resources Ltd.

A.I.S. Resources is a TSX Venture Exchange-listed investment issuer that is managed by experienced, highly qualified professionals who have a long record of success in lithium exploration and production, manganese trading, gold exploration and production, and capital markets. Through its extensive business and mining networks, it identifies and develops projects worldwide that have strong potential for growth and near-term income with the objective of providing significant returns for shareholders.

We seek Safe Harbor.

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