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A.I.S. Resources arranges supply of 30,000 tonnes a month of manganese ore and commences sales negotiations with Erdos Group

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The company has arranged a supply of 30,000 tonnes a month of manganese ore grading 48 to 52% and is in negotiations with Erdos Group, one of the world’s largest buyers of manganese.

Additional Information:

Company: A.I.S. Resources Limited
Website: http://www.AISresources.com
Stock Symbol: TSXV: AIS
Date Published: Nov 21, 2019
Transcript: Available

Video Transcript:

I’m Nadika Viswakula for InvestmentPitch Media

A.I.S. Resources Limited has arranged an additional supply of manganese ore and is in sales negotiations with a new customer.

The company has arranged a supply of 30,000 tonnes a month of manganese ore grading 48 to 52% and is in negotiations with Erdos Group, one of the world’s largest buyers of manganese.

Erdos Group, with operations in Inner Mongolia where most large silicon-manganese producers are located due to the very low cost of power, is active in metals, energy and textiles.

With a current market value of US$9.5 billion, Erdos is one of the biggest players in the manganese market.

AIS has issued a term sheet for a trial shipment of 10,000 tonnes of Manganese to Erdos, which will gross approximately US$2,000,000 subject to the final CIQ China assay of the Manganese being approximately 50%.

AIS will oversee quality control and assay, shipping and other logistics related key processes.

AIS will be buying on an FOB basis and selling CFR to Tianjin China, with shipping out of the Dar es Salaam Port in Tanzania.

The payment from Erdos will be by letter of credit of which 95% can be processed 10 days after the ship leaves Dar es
Salaam.

Detailed discussions are being held with trade and project financiers to accommodate the payment of shipping and manganese ore.

Other suppliers have approached AIS about replicating this trading strategy and discussions on supply based on grade have begun.

Phil Thomas, President and CEO, stated: “The Company is pleased to have found suppliers with such high purity of manganese in the 30,000 tonnes per month range. This will make a considerable difference to the Company’s cashflows when the transaction is completed which we expect will occur in January.”

The company’s current activities are focused on the mining and trading of manganese ores and exploration and development of lithium brine projects in northern Argentina.

The shares are trading at $0.07.

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 Nadika Viswakula for InvestmentPitch Media