CVMR® (USA) Inc. and Auxico Resources Canada Inc. announced today that they have entered into a strategic alliance according to which CVMR® will manage and refine Zamora Silver and Gold assets in Mexico. Zamora has 16 mines with these untapped resources.
NEW YORK – March 1, 2016 – CVMR® will produce Nano silver powders for the defense, aerospace, electronics, automotive and medical industries. Nano powders of silver typically sell at multiples of current silver prices. Samples with 20 g/t of gold and 14 kg/t of silver are currently being tested for refining at CVMR® Corporation in Canada.
Auxico has also reached an agreement to lease 2,600 Hectares of port facility in an industrial zone in Coatzacoalcos to build a CVMR® designed modular plant for refining of silver and gold, while using the CVMR® facility in Tennessee for production of highly specialized nano powders.
David Drake, Chairman of multi-family office LDJ Capital where CVMR Chairman and CEO Kamran Khozan is a Board Advisor, says, “This company is doing extremely well in the area of nanotechnology of vaporization for these precious metals and intellectual property applications. Right now is a great time for expansion for the companies who have the means to do so. This is one company that is expanding in the current economical situation.”
CVMR® is the leader in the metal refining and manufacturing of metal powders, super alloys, metal 3D printing feed materials, and metal parts of high value. The demand based product pricing of CVMR® has proven to be highly successful. CVMR® has been supplying many different segments of the manufacturing and consumer markets over the past 28 years.
In a conference call to CVMR® Mr. N. Victor Emmanuel, Chief Operating Officer and Executive Vice President of CVMR® stated that, “CVMR® has been negotiating this deal for some time and we are delighted that we can now proceed with building our plants to refine these minerals in Mexico and in the United States. Our refining tests have proven quite positive and we are now determining the morphology of the powders required by various industries.”
Mr. Sergiy Kotun, Senior Chemical Engineer at CVMR® elaborated on the industrial uses of silver by stating, “silver has unique elemental properties that make it very difficult to substitute. Its uses span almost to every sector of industrial application. From wound dressings, creams, and antibiotic coating on medical devices to jet engines.”
Mr. Mohammad Al Quayyum, Senior Electrical/Process Engineer at CVMR® added, “Almost all electronics are configured with silver, from turning out the lights to turning on your television set, if it has an on/off switch, it is likely that silver is playing an important role behind the scenes. Silver is an ingredient in molded items like insulating handles for stoves, key tops for computers, electrical control knobs, domestic appliance components, and electrical connector housings. In the soldering and brazing of pipes, faucets, ducts and joints, silver provides safety, strength and quality unrivaled by any other material.”
More than 150 million ounces of silver are used each year to produce ethylene oxide and formaldehyde, both of which are essential ingredients in plastics. Approximately 90% of the silver that is employed as industrial catalyst is used for the production of ethylene oxide. Ethylene oxide is the foundation for plastics including polyester, the textile used in mainstream fashion today. About 25% of ethylene oxide production is used to produce antifreeze coolant for automobiles and other vehicles. Over 36 million ounces of silver are used annually in the automotive industry.
CVMR® (USA) President, Mr. Michael Hargett has extensive Latin American business experience and speaks Spanish fluently. He was reached by phone at his office in Oak Ridge, Tennessee. He stated that “CVMR® has extensive international experience and we are quite excited to market the unique products we will be producing in Mexico and the United States, worldwide. We are currently negotiating with a number of Chinese based international organizations to evaluate the strength of that market in the near future for our silver-based products. These nano powders are complimentary to the other metal powders CVMR® produces for industry and powder metallurgy applications. Each use generates a high performance material for innovative technologies.”
Use of silver in the solar panels was about 60 million ounces in 2014, and has been growing at the rate of 7% in US and 12% in Germany. The Chinese statistics in this sector were not available at the time of writing this news item, but it is speculated that the volume of silver used in this sector is much higher in China than US and Germany.
Mr. Joel Scodnick, P.Geo., an independent geological consultant working for Auxico commented that Auxico and CVMR® are not speculators. They are interested in the physical trade of silver, although paper trade in silver and the futures market in this sector are quite important, CVMR® is more interested in innovation and uses of silver in various segments of the industrial market.”
Chairman and CEO of CVMR® group of companies, Mr. Kamran M. Khozan, and Mr. Pierre Gauthier, President of Central American Nickel were in a closed session conference with a number of executives from the defense industry in London, England, today and were not available for comment.
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