Coronet Metals Leases Liberty Precious Metals Testing and Processing Facility

Coronet Metals Inc. (TSXV:CRF, OTCQX:CORMF) announced that they have leased, with an Option to Purchase, the Liberty Precious Metals Testing and Processing Facility.

As quoted in the press release:

 The Liberty Facility is part of Coronet’s strategy of acquiring precious metals projects which it expects will generate near‐term production and cash flow with significant upside potential. Liberty is permitted to process up to 50 tons per day of precious metals feed including high grade ore and flotation/gravity concentrates from Nevada and out‐of‐state facilities.

Coronet’s President and CFO, Theo van der Linde, said:

Completing the Liberty agreement further establishes Coronet in the mining friendly state of Nevada. High precious metals prices have given rise to the re‐opening of historical mines, but there is a shortage of processing capacity. The White Caps and Liberty transactions put Coronet in a strong position to advance operations in Nevada, strengthening its ability to expand through internal growth or additional acquisitions and continue to advance Yanamin.

To view the whole press release, click here.