Capital Financial Global Acquires 10 Year Stream of Gold Ore Concentrates in Off-Take Agreement
Date : 07/30/2014 @ 6:00AM
Source : PR Newswire (US)
Stock : Capital Financial Global, Inc. (PC) (CFGX)
Quote : 0.0022 0.0 (0.00%) @ 2:05AM
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Capital Financial Global Acquires 10 Year Stream of Gold Ore Concentrates in Off-Take Agreement
SALT LAKE CITY, July 30, 2014 /PRNewswire/ -- Capital Financial Global, Inc. (OTC Pink: CFGX), announced today that it has successfully acquired a ten-year stream of gold ore concentrates in an off-take agreement with mining company Noble Metal Kings.
The agreement calls for a minimum of 100 kilograms (3,215 troy ounces) per month, at 80% purity, with a price of 85% of spot, spanning a period of 10 years.
"We expect this transaction to provide us with a ten-year income stream," said Mr. Paul Edward Norat, CEO of Capital Financial Global, Inc. "As we generate revenue through selling the gold material, we'll solidify the vertical through-put we need in the distribution chain to start financing ore-related projects, which is a market in which we believe we can effectively compete."
The acquired gold material is expected to be delivered and sold to Quantum Refiners, LLC, in Atlanta, Georgia, which owes upwards of $5.1 million dollars to Capital Financial Global, Inc.
Disclosures can be found on the Company's website and its online disclosure portal at:
www.capfiglobal.comwww.otcmarkets.com/stock/CFGX/filingsAbout Capital Financial Global, Inc.
Capital Financial Global, Inc. (CFGX) is a specialty finance company that offers asset-backed financing and loan advisory services to insurance trusts & pension funds, owners of commercial real estate, owners of residential real estate portfolios, and owners of mining & precious metals assets.
Our Market Positioning & Differentiation
Unlike traditional banking models, CFGX offers organizations needed liquidity by using an asset-backed approach rather than a traditional credit approach to originating new loans, buying and selling existing loans, and converting distressed collateral into cash or trade-able form.
Our Revenue Model
We seek revenue from loan fees, interest rate spreads on loans we hold, and margins on loans sold in whole or in part to institutional investors, hedge funds, or other secondary market participants. We also seek revenue by charging loan servicing fees and by selling distressed assets that we acquire for our own investment or through some type of foreclosure.
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