Cancana JV Arranges Sales Order of 4,500 Tonnes of Manganese
April 7, 2016 (Source) — Cancana Resources Corp. (TSX VENTURE:CNY) (the “Company” or “Cancana”) and its joint venture partner Ferrometals BV (“Ferrometals”), together Brazil Manganese Corporation (“BMC”), announce a 4,500 tonne sales order of high grade (50% minimum) manganese mineral product.
The Company is pleased to announce a sales order of an additional 4,500 tonnes to a ferro-manganese client in Brazil. This purchase is on top of the sales order of 7,500 tonnes announced January 14, 2016, an order that is planned to be fully delivered by the end of April, 2016. This new order is scheduled to be delivered during the second quarter of 2016.
Cancana’s President & CEO, Anthony Julien, stated, “Our aim has been to establish a secure supply of high grade ore for Brazilian customers, then scale to a global market. This sale represents confidence in our exploration programme to meet domestic customer’s orders for high quality, high purity manganese and our operational expertise to deliver a consistent and reliable supply.”
Quarterly sales and production numbers for the first quarter of 2016 are expected to be released in the second week of April, 2016.
On behalf of the Board of Directors of
CANCANA RESOURCES CORP.
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President, CEO and Director
Cancana Resources Corp is focused on exploring and developing the BMC manganese project in Brazil with its joint venture partner Ferrometals BV. The JV is employing a two-pronged strategy at BMC, where the primary objective is to advance the project to an initial resource and onward to feasibility, while also expanding current small-scale production to support those exploration activities. Further information can be found at cancanacorp.com, and bmcorporation.com.br.
Ferrometals is a privately held mining and metallurgical group. It is a global supplier of essential minerals and micronutrients to the agriculture, steel and manufacturing industries. Building on sustainable and ecologically sound production methods, it is developing specific product lines designed to enhance the yield and growth potential of these industries. Further information can be found at ferrometals.net.
Some statements in this news release contain forward-looking information or forward-looking statements for the purposes of applicable securities laws. These statements include, among others, statements with respect to the Company’s plans for exploration and development of the Brazil properties and potential mineralization. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such risk factors include, among others, failure to obtain regulatory approvals, failure to complete anticipated transactions, the timing and success of future exploration and development activities, exploration and development risks, title matters, inability to obtain any required third party consents, operating hazards, metal prices, political and economic factors, competitive factors, general economic conditions, relationships with strategic partners, governmental regulation and supervision, seasonality, technological change, industry practices and one-time events. In making the forward-looking statements, the Company has applied several material assumptions including, but not limited to, the assumptions that: (1) the proposed exploration and development of mineral projects will proceed as planned; (2) market fundamentals will result in sustained metals and minerals prices and (3) any additional financing needed will be available on reasonable terms. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation. The Company cautions that it has not completed any feasibility studies on any of BMC’s mineral properties, and no mineral reserve estimate has been established. Because the Company production decision is not based upon a feasibility study of mineral reserves, the economic and technical viability of the property has not been established.
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