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VANCOUVER, British Columbia, Jan. 29, 2020 (GLOBE NEWSWIRE) -- A.I.S. Resources Limited (TSX-V – AIS, OTCQB: AISSF) (the “Company” or “AIS”) announces that it has received payment for the first 292 DMT (“dry metric tonnes”) of Manganese fines sold in November 2019. There was no discrepancy between the China Import Quarantine (“CIQ”) and Veritas Peru certificate of chemical analysis. The buyer paid the benchmark price of US$3.70 per DMTU and the final grade was 42.75% Mn.
AIS has sourced very high quality manganese from its Zambian supplier which will be sold on a CIF basis from Dar Es Salaam Port in Tanzania. The ore was independently assayed by our Chinese buyer with an assay of 53.66% Mn with low iron, silica and aluminum. We will move to contracts after the Chinese new year.
We have 1,000 tonnes of 42% manganese fines ready for sale in Peru and we have negotiated an acceptable price for 30,000 tonnes of 42% Mn from Brazil. We have sent term sheets to a number of buyers we have been communicating with.