Scottsdale-based El Capitan Precious Metals says it has reached a deal to sell precious metals to a U.S.-based refinery through a Canadian broker. The contract is for one year and the company has already completed the first shipment.

The announcement comes on the heels their June report in which the mining company says its smelting processes have been validated for sale.

El Capitan is an Arizona company that holds 100 percent interest in property located near Capitan, New Mexico.