• Silver Elephant Mining (ELEF) has signed a sales and purchase agreement (SPA) with a Hong Kong company
  • Silver Elephant went into the agreement through its Mongolia subsidiary, Mega Thermal Coal
  • Mega Thermal will supply 15,000 tonnes of coal from its Ulaan Ovoo mine to a Hong Kong commodity trading and logistics company
  • Silver Elephant Mining is a premier silver mining and exploration company
  • Silver Elephant Mining (ELEF) opened trading at $0.48 per share

Silver Elephant Mining (ELEF) has signed a sales and purchase agreement (SPA) with a Hong Kong company.

Silver Elephant went into the agreement through its Mongolia subsidiary, Mega Thermal Coal, to supply coal to a Hong Kong commodity trading and logistics company with a significant presence in Mongolia.

Under the SPA, Mega Thermal Coal will supply 15,000 tonnes of coal from its Ulaan Ovoo mine in northern Mongolia.

The delivery is scheduled to be completed by March 31, 2023.

“After a brief pause for the lunar new year, coal sales and delivery from Silver Elephant’s Ulaan Ovoo mine are resuming in February,” noted John Lee, CEO of the company.

“Our goal is to achieve steady continued coal sales year-round in 2023, which we expect to be the record year in sales revenue for Ulaan Ovoo,” he added.

Both parties intend to expand the sales volume under the SPA after successful completion of a trial shipment. The SPA expires on December 31, 2023.

Silver Elephant Mining is a premier silver mining and exploration company focused on its flagship Pulacayo silver project in Bolivia.

Silver Elephant Mining (ELEF) opened trading at $0.48 per share.


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