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A.I.S. delivers 150 tonnes high-grade manganese ore in 6 containers to dockside for export to China

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A.I.S. has a signed an Offtake Letter of Intent with a division of China Minmetals for up to 40,000 tonnes of manganese ore per month and is negotiating sales agreements with several other purchasers for its high-grade fines manganese product.

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Company: A.I.S. Resources Limited
Website: http://www.AISresources.com
Stock Symbol: TSXV: AIS
Date Published: Jul 23, 2019
Transcript: Available

Video Transcript:

I’m Megan Edwards for InvestmentPitch Media

A.I.S. Resources Limited reports that its initial trial shipment of 150 tonnes of manganese ore has arrived at Lima, Peru and has been loaded into 6 containers.

A.I.S. has a signed an Offtake Letter of Intent with a division of China Minmetals for up to 40,000 tonnes of manganese ore per month and is negotiating sales agreements with several other purchasers for its high-grade fines manganese product.

The first 6 containers, containing 150 tonnes, will be shipped during the week of July 28th, to be followed by another 350 tonnes which have been bagged at the mine site in preparation for shipping.

The company has signed a supply contract with a local miner to purchase 2,000 tonnes of manganese ore with samples averaging 45% manganese oxide, as independently tested by Centamin, an internationally respected laboratory.

Centamin’s analysis of the first 150 tonnes showed an average assay of 49.4% manganese, 0.95% iron, 2.4% silicon dioxide, which exceeded specifications.

A.I.S. will initially ship 6 containers per week for the first three weeks, totalling 18 containers, consisting of 450 tonnes, which will be followed with 40 containers totaling 1,000 tonnes every 2 weeks from the San Jorge mine.

Manganese ore recently sold in the range of US$233 to US$250 per tonne for 44% manganese content, which is calculated at US$5.30 to US$5.70 per percentage point of manganese.

The company’s Peruvian geologist and the General Manager are currently visiting three other mines in the Cajamarca area with the objective of adding lump manganese to the A.I.S. product line.

Under the terms of the purchase, A.I.S. will pay 50% when trucking commences, and the balance of 50% upon completion of the assay for each one tonne super bag received in the company’s storage area.

The company has paid a 50% deposit for 1,000 tonnes of manganese ore.

Phil Thomas, CEO, 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.”

A.I.S. Resources has been around since 1967, with strong management 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.

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.

The company recently closed a non-brokered private placement, raising gross proceeds of $355,000 from the placement of 7.1 million units priced at $0.05 per unit.

The shares are trading at $0.12.

For more information please visit the company’s website www.AISresources.com, contact Phil Thomas, President and CEO, by email at pthomas@AISresources.com or Martyn Element, Chairman, at 604-687-6820 or email melement@AISresources.com.

I’m Megan Edwards for InvestmentPitch Media