First Liberty Power Corp. (OTCQB: FLPC), an innovative and diversified exploration, development and mining company focused on strategic industrial minerals for America\'s future, today announced that it has finalized the terms of an offtake sales agreement for stibnite (antimony) concentrate shipments.
The Company has entered into an agreement with Shenyang Huachang Antimony Chemical Co., Ltd. ("SHACC"), a subsidiary of New Huachang Five Star Group, whereby SHACC has certain rights to acquire ore mined at the Fencemaker antimony property by FLPC strategic partner, Stockpile Reserves LLC. SHACC will pay a premium over industry standard prices on competitive payment terms based on its desire to source from a stable jurisdiction with strong environmental and safety standards. With more than 500 metric tons of ore currently loaded for transportation, FLPC has established a first stage plan to have the raw ore upgraded to a 50 to 60% concentrate. The upgraded ore will be sold and shipped to SHACC for further refining. "While we continue to move First Liberty Power forward in many areas, the company\'s main objective remains to achieve initial revenue within our second fiscal quarter ending January 31, 2014," stated FLPC CEO, Don Nicholson. "A key component of our mid-term strategy is to be able to refine ore through to finished products in the USA. That will require a transition phase of generating the cash flow to finance such operations. With the offtake agreement in place, we are moving toward that scenario. Our expectation is that the first container will be at the shipping port by the third week of January with regular shipments to follow. More details on tonnage and concentrate levels will be provided over the following weeks, as transportation and concentrating costs become clearly established."
The Company\'s announced timetable of shipments will also require an escalation in Fencemaker mine blasts, beginning in January. Additionally, there will be intensified efforts to complete the permitting process for the planned mill site in Lovelock, Nevada to localize ore concentration.
FLPC will continue to use Pathways of Progress announcements to update advancements in their mining and overall operations. ABOUT FIRST LIBERTY POWER CORPORATION (OTCQB: FLPC):First Liberty Power Corporation is an innovative and diversified exploration, development and mining company focused on bringing to market strategic minerals for America\'s Future, having the only Antimony mine in production in the USA. The First Liberty corporate philosophy is driven by a dedication to the Pathways of Progress (POP) program. This is a program of best corporate practices designed to drive the company\'s exploration, development and mining operations, benefitting First Liberty shareholders, investors and mining partners, in addition to ensuring safety, environmental integrity, and good governance. Presently, First Liberty has interests in four properties: the Fencemaker antimony project in Nevada, the Lida Valley and Smoky Valley lithium brine projects in Nevada, and the San Juan vanadium/uranium project in Utah.