Formation Metals Inc.(TSX:FCO) announced that it has started processing silver and gold concentrates as it received notice of its placing on the Approved Refiners and Brands official list. The Company entered into an agreement earlier this year with the Crescent Mine to process silver concentrates.
As quoted in the press release:
Quality silver has been consistently produced for at least five years at the Company’s Sunshine Precious Metals Refinery which is one of the criteria for the listing. The Refinery is part of the Company’s Big Creek hydrometallurgical complex, located in the Coeur d’Alene mining district in the Silver Valley area of northern Idaho. COMEX is a division of the New York Mercantile Exchange, a commodity futures exchange.
Formation Metals, CEO, Mari-Ann Green, commented:
The COMEX listing will attract a wider range of customers.In anticipation of the listing, we have also been preparing the hydromet plant to accept silver/copper and gold concentrates. As we gear up and have both facilities in operation the hydromet plant will serve to provide additional feed for the refinery. We are expecting a significant positive impact on revenue generation.