Double Crown Resources Signs 8 Year Agreement for High Grade Barite from China
01 April 2014 - 1:30PM
Business Wire
Planned Contracts for Product Valued at $5.5
Million per Month
Apr. 1, 2014 --Double Crown Resources, Inc. (OTCQB: DDCC), a
fully reporting company, (hereinafter, "Double Crown"), is pleased
to report the signing of a new, 8 year Master Purchase Agreement
(MPA) with a strategic mineral mining company in China for monthly
shipments of high grade barite. This agreement will provide Double
Crown with 30,000 metric tons of high grade barite per month
(market value approximately $5.5 million per monthly shipment). The
MPA was negotiated and signed to procure product for a long-term
oilfield service contract with a major petroleum drilling company
now in late stage development and near finalization. The barite
product from this Chinese mining source has been fully tested and
verified to meet or exceed petroleum grade API standards. Processed
barite is a key mineral commodity with growing market demand for
use in off-shore petroleum drilling operations.
Double Crown's Chief Operating Officer Antonio B. Castillo
traveled to China for the purpose of negotiating and signing the 8
year MPA for this valuable source of high grade barite. Photos of
Mr. Castillo on site with the Chinese company representatives may
be viewed on our company website via this direct link:
http://www.doublecrownresources.com/component/content/article/8-site-pages/48-china-photos.html.
Mr. Castillo is still traveling in Asia evaluating and working on
additional new business developments.
Initially, the China-sourced high grade barite will be processed
before importation to the United States. Arrangements are currently
being made to receive shipments at Corpus Christi and other
commercial ports in Texas. After Double Crown's own processing
plant & bulk terminal in New Orleans, Louisiana becomes fully
operational, we intend to process future shipments of raw ore and
other commodities there. Multiple design advancements for the
upgrade of the New Orleans plant have been planned for best
possible use in our unique means of strategic commodity product
distribution. Some of the latest technologies have been
incorporated into the upgrade planning to maximize the resources
and performance of this plant to best serve Double Crown customers.
At capacity, the plant will be able to load and dispatch one full
intermodal unit train per day. We have signed the necessary
contracts with the engineering firms, as well as the contracts with
the project management consultants for all planned upgrades. Double
Crown is now prepared to secure financing for this major corporate
development project.
Regarding the signing of the 8 year MPA for high grade barite
from China, CEO & Chairman of the Board Jerold S. Drew
commented, "Double Crown Resources is moving forward swiftly now to
establish a global range of top quality, long term sources for the
vital commodities our customers need in both on-shore and off-shore
oilfield drilling operations. The demand for important minerals
like barite, as well as related commodities, has never been
stronger, especially with the great expansion of shale oilfield
drilling projects we see today. Industry projections anticipate
this demand will continue to grow for decades to come. Our
management has worked very hard to secure the best possible sources
of top quality commodity products to support the drilling industry
and to develop the most effective, cost-efficient and
environmentally friendly methods of delivery. We intend to do our
utmost to accomplish that mission for the benefit of all our
customers, associates and shareholders."
About Double Crown Resources, Inc.
Double Crown Resources, Inc. is a natural resource exploration
and development company holding a 100% interest in the Bateman gold
& nickel prospect near Thunder Bay, Ontario, Canada. In
addition, Double Crown is targeting new properties as well as
oilfield supply & service projects that have the potential for
near-term positive cash flow. The company is presently reviewing a
number of new natural resource properties that are near to, or in
production, located in North, South and Latin America. Multiple
oilfield service projects are currently under active development.
Double Crown Resources, Inc., originally founded in 2006, is based
in Henderson, NV.
Neither this press release nor any related calls or discussions
constitutes an offer to sell, or the solicitation of an offer to
buy, any securities.
Forward-Looking Statements
You should not place undue reliance on forward-looking
statements in this press release. This press release contains
forward-looking statements that involve risks and uncertainties.
Words such as "will," "anticipates," "believes," "plans," "goal,"
"expects," "future," "intends," and similar expressions are used to
identify these forward-looking statements. Actual results could
differ materially from those anticipated in these forward-looking
statements for many reasons, including the risks we face as
described in this press release. For further information about
Double Crown Resources, Inc., please refer to its website at
http://www.doublecrownresources.com/.
Double Crown Resources, Inc.Jerold S. Drew, CEO & Chairman
of the Board10120 S. Eastern Ave. Suite 200Henderson, Nevada
89052Phone: (707) 961-6016Email: info@doublecrownresources.com