El Capitan Precious Metals Inc. announced that it is completing a renegotiated contract for the sale of El Capitan ore to its Hong Kong-based buyer. The most significant point in the revised agreement is an increase in the price per ton that the Chinese buyer will pay for the El Capitan ore. This is based on a higher precious-metals content than previously anticipated in the original contract.

The company also reported that it has procured containers for the shipment of the ore and that it will commence shipping immediately upon the contract completion early in July.