Standard Metals Processing, Inc. announced that through its subsidiary company, Tonopah Custom Processing, Inc., a memorandum of understanding to process source material for Adriat Management Group. According to the terms of the agreement, the company will take delivery of high grade gold concentrate and source material that will be processed into refined gold and/or dore bars. The company expects to process its first delivery of concentrate shortly after obtaining the requisite permits and completion of its processing facility.

The company's initial delivery is expected to be 10 tons of concentrate per month, with expected increases to 40 tons per month with the potential for 200 tons per month in the long term. Under the terms of the agreement, Standard Metals Acquisitions, Inc. will receive the exclusive processing rights within the U.S. for 10 years, with an optional 10-year extension.