Jun 26 2012
Daulton Capital Corp. a gold and precious metals exploration company, is pleased to announce that it has entered into a $105 million forward Gold sales contract with Salam International Limited. Salam International Ltd is a Dubai gold trading company which procures gold and sells to large Gold refineries in Dubai & Abu Dhabi, United Arab Emirates.
The company has executed a forward gold sale contract for the sale of USD $105 million 99.9% pure gold bullion at a price equal to discount of 5 % (LME -5) to the 2nd London Metals Exchange fixing price on the date of each tranche delivery. The contract is for a term of 36 months and provides for the gold to be delivered 6 to 9 months from the date of signing as Celframe ARX Resources gears up for production at its Queensland, Australia site. The purpose of the forward gold sales contract is to enable immediate working capital to fund ongoing gold production at the ARX Springs project.
Arun Pudur, President of Daulton Capital Corp commented, "We are pleased to have entered into the agreement on what we consider to be very favorable terms for a company in the pre production phase and look forward to working closely with Salam International, a leading Gold supplier in the UAE." He added, "The value of this contract shows that the market has complete confidence in Celframe management and commitment to deliver excellence. This further seals that I & my team will deliver what we promised to all our share-holders, on time every time."
Brian Smith, CEO of Daulton Capital Corp said, "Very few Gold companies have ever managed to close a $105 Million dollar gold sale, much less for a company in pre-production stage. We also have the option to increase the value of the contract in the future as Salam's clients have the capacity to purchase MT of gold. This further shows the amount of trust clients have in Celframe and its capability to deliver."
"With these funds we will be able to escalate our production capacity faster than planned and reach near production stage in considerably less time and look forward to start delivery of gold before the time-lines," said Arun Ramachandran, Director of Daulton Capital Corp.
About Daulton Capital Corporation:
DAULTON CAPITAL CORP. (OTCBB: DUCP) is a natural resource company focused on gold and precious metals. The New Management's corporate philosophy is to be a Share Holder Value creator, with the objective of exploring, acquiring and operating Gold projects in Australia and other countries to generate real value beginning with ARX Springs Gold Project in Queensland, Australia.
Daulton Capital has formed an experienced management team with the ability to take advantage of the tremendous opportunities that are available in the natural resource sector today. Our focus will be to explore, acquire and develop gold resource projects, and continue to invest in expansion of exploration activities and seek opportunistic special situations that can add to our portfolio of assets within the resource sector.
ARX Gold Project:
The ARX Springs Gold property is located at Coonambula near Eidsvold in Queensland, Australia, and has gold resources estimated at between 16,000,000 to 18,000,000 (Sixteen to Eighteen Million) ounces of gold and estimated to generated a cash flow of $22 billion over the planned 20 year life of the mine based on current gold prices. Queensland, Australia is well known to be a prolific gold producing State since the 1867 Australian gold rush, several major gold producing companies including BHP, Glencore Xstrata, Rio Tinto, Barrick Gold and Anglo American have been active in the State of Queensland and the area where the ARX Springs gold project is located has an extensive history of gold finds going back to early 1888 in the nearby St Johns Creek gold fields.
Arun Pudur:
Arun Pudur is the founder of Celframe, a Multi-Billion Dollar Global technology company with offices in US, India & Malaysia. Renowned Business Man Mr. Arun Pudur is the CEO of Celframe Technology Group of Companies since March 2001 he is a widely accomplished and established entrepreneur and investor in the precious minerals and mining industry in Australia, South Africa and other parts of the world. He is a graduate of the University of Bangalore majoring in Business Management.
Please visit www.daultoncapital.com for more information.
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are based on the current plans and expectations of management and are subject to a number of uncertainties and risks that could significantly affect the company's current plans and expectations, as well as future results of operations and financial condition. A more extensive listing of risks and factors that may affect the company's business prospects and cause actual results to differ materially from those described in the forward-looking statements can be found in the reports and other documents filed by the company with the Securities and Exchange Commission. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
For more information, please contact
Daulton Capital Corp
Investor Relations
US Office: Celframe, The Seagram Building, 375, Park Avenue, Suite 2607, New York, NY, USA
Ph.: +1.212.6346805
Email: [email protected]
Web: www.daultoncapital.com / www.celframe.com
SOURCE Daulton Capital Corp.