Next Graphite Announces Further Updates To Aukam Plant Construction & Mining Progress
LOS ANGELES, CA, April 03, 2018 (GLOBE NEWSWIRE) -- Next Graphite Inc. (OTC PINK: GPNE) ("Next Graphite," "GPNE" or the "Company"), a graphite development company out of the Republic of Namibia and co-license joint interest holder in the Aukam vein graphite project, is pleased to announce that major progress is continuing regarding completion of the pilot processing facility at its mining site at Aukam.
The main work being carried out by our joint venture at the Aukam site since our last press release is construction. The construction includes assembling of the pilot processing facility that will be used to process initial market product for end users to test its viability in certain end uses at scale.
In preparation for the commissioning of the plant, graphite lumps have been transported and stockpiled and further readied for processing.
Almost all of the plant components have been acquired from South Africa and Namibia, which simplifies the procurement significantly from the other options in China and Sri Lanka.
“I continue to be very pleased with the progress Next Graphite has accomplished with our joint venture partner at Aukam,” said Cliff Bream, CEO of Next Graphite.
Next Graphite’s joint venture partner is Gratomic Inc. (“GRAT” or the “Company”) (GRAT.V) (CB81.F) (WKN:A2JAP3).
About Next Graphite, Inc.:
Next Graphite Inc. is a development stage company targeting the growing specialty graphite production industry. The Company’s Africa-based Aukam Graphite Mine was established in 1940 in the current Republic of Namibia and produced USD $30 million of graphite at today's prices. The site is located on approximately 69,000 acres (27,870 hectares) in southern Namibia close to the port city of Luderitz and is estimated to contain a significant amount of high grade, vein type graphitic material.
The property hosts three underground adits that were mined periodically between 1940 and 1974. Five dumps from the historical mining occur on the property. The Company is working to transition from its current exploratory license to a full mining license and complete construction of a new graphite processing facility in 2018. Next Graphite’s joint venture in Namibia maintains high safety and environmental standards and has a comprehensive strategy of social engagement.
For more information, please visit: www.nextgraphite.com.
Safe Harbor Statement:
This press release contains forward-looking statements made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward looking statements are based upon the current plans, estimates and projections of Next Graphite Inc.'s management and are subject to risks and uncertainties, which could cause actual results to differ from the forward looking statements. Such statements include, among others, those concerning market and industry segment growth and demand and acceptance of new and existing products; any projections of sales, earnings, revenue, margins or other financial items; any statements of the plans, strategies and objectives of management for future operations; any statements regarding future economic conditions or performance; uncertainties related to conducting business in Africa, as well as all assumptions, expectations, predictions, intentions or beliefs about future events. Therefore, you should not place undue reliance on these forward-looking statements. The following factors, among others, could cause actual results to differ from those set forth in the forward-looking statements. Among others, could cause actual results to differ from those set forth in the forward-looking statements: business conditions in Africa, general economic conditions; geopolitical events and regulatory changes, availability of capital, the Company's ability to maintain its competitive position and dependence on key management. This press release does not constitute an offer to sell or the solicitation of an offer to buy any security and shall not constitute an offer, solicitation or sale of any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.
SOURCE: Next Graphite Inc.
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